Maximum Daily Loss | 5%
In the course of one working day, the maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) must not exceed 5% of the initial balance of the account. Please note this includes commissions.
The max daily drawdown resets every day at 5:00 PM EST. Once your last balance is pulled for the trading day your dashboard will update with your new Daily Breach Level. This is the amount your account equity must stay above in order to not be breached.
Daily Funded Drawdown Rules
The following chart shows the daily drawdown loss and overall max loss by account size for the Rapid Challenge.
Maximum Total Drawdown | 8%
The maximum total drawdown is 8%. Therefore, the equity of the account must not fall below 92% of the initial account balance both for open and closed positions, including commissions and swaps.
Any violation of the rules above will result in the termination of your trading account and you will not be eligible to move forward in the program with that account.
Please note both the daily drawdown and max drawdown include commissions and swap fees as well.