Overview
The Royal Challenge is a two-phase challenge that offers traders the flexibility of unlimited trading days and equity/balance-based drawdown calculations. This challenge is designed to accommodate long-term strategies while offering generous scaling and payout opportunities.
☑️ Unlimited Trading Days for optimal strategy flexibility.
☑️ 5% Daily Drawdown and 10% Max Drawdown.
☑️ Phase 1 (8% Profit Target) and Phase 2 (5% Profit Target).
☑️ First Withdrawal: 30 Days (14 Days with add-on).
☑️ Weekend Holding Allowed.
☑️ EA’s, cBots & Trade Copiers Allowed.
☑️ VIP Program: 95% Reward Split with Anytime Payouts.
☑️ Scaling: 25% every 3 months, up to $1.2M in Challenge and $600K in Funded Accounts.
Summary:
The Royal Challenge gives traders the flexibility to take their time, with unlimited trading days and the ability to hold trades over the weekend. With generous scaling and a VIP program offering a 95% reward split, this challenge is perfect for traders looking to grow their accounts up to $1.2M in challenge funds and $600K in funded accounts.
Objectives
Metric | Royal Challenge Phase 1 | Royal Challenge Phase 2 | Royal Challenge Funded |
Profit Target | 8% | 5% | - |
Max. Daily Drawdown | 5% | 5% | 5% |
Max. Initial Deposit Drawdown | 10% | 10% | 10% |
Minimum Trading Days | 5 | 5 | - |
Maximum Trading Days | Unlimited | Unlimited | - |
Lot Size Limits | No | No | No |
News Trading Allowed | No | No | No |
EAs are Enabled | Yes* | Yes* | Yes* |
Holding Over the Weekend is Allowed | Yes | Yes | Yes |
*EAs cannot be used with DXtrade & Match-Trader platforms
NOTE:
All Phase 1 & 2, as well as Funded Accounts, are routed through a simulated feed, therefore simulating, real market conditions.
After signing and submitting the contract, your Royal Challenge Funded account will be enabled to trade within 24-48 hours (excluding weekends).
200K Challenge Example
In the case of a 200K virtual balance demo account, you must not have a 10,000 virtual balance drawdown based on your balance or equity (whichever is higher) on your trading account within a 24-hour period starting at 5pm EST.
Pricing
Account Size | Price | First Payout Bonus |
5K | $60 | $60 |
10K | $120 | $120 |
25K | $189 | $189 |
50K | $289 | $289 |
100K | $489 | $489 |
200K | $1,158 | $1,158 |
Understanding Max Daily and Total Drawdown
Daily Drawdown
Daily Loss | 5%
In the course of one working day, the maximum daily drawdown on the account (which consists of the demo account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the demo balance or virtual equity, whichever is greater when the day changes at 5pm EST.
The daily drawdown amount is always fixed to 5% of the initial demo balance. This includes simulated commissions and simulated swap fees. If the account at any point breaches the daily drawdown the account is violated.
Note: We also utilize a reconciliation module that reviews breaches the following day to add an additional layer of verification for any breach activity.
Examples
Your max daily loss will reset each day between 4:57 pm est - 5:03pm EST. For example, if you start with a $100,000 account your max daily loss will be set at 5% (5,000). If you end the day making $4,000 your TFT account balance will now be at $104,000. Your daily loss now be set at 99,000. Your account will be breached if you fall below $99,000 in equity at any point throughout the day.
Example 2: If your account is a $100,000 challenge and you have a position open that is $5,000 in virtual profit when the new day starts the daily drawdown would be calculated as $105,000 - $5,000 = $100,000. If your equity goes below $100,000 at any point you have violated the max daily drawdown.
Reset Time
The daily drawdown resets every day between 4:57 pm EST- 5:03pm EST. To ensure smooth functionality, we advise our TFT traders to not execute trades in between the window of 4:57 PM - 5:03 PM EST when the drawdown is being reset. Once your last balance/equity (whichever is higher) is pulled for the trading day your dashboard will update with your new daily breach level. This is the amount your account virtual equity must stay above in order to not be breached.
Drawdown Rules by Account Size
The following chart shows the maximum daily drawdown loss and overall maximum loss by account size for all Royal accounts.
Account Size | Maximum Daily Loss | Maximum Total Drawdown |
50,000 | 2,500 | Equity/Balance must not drop below 45K |
100,000 | 5,000 | Equity/Balance must not drop below 90K |
200,000 | 10,000 | Equity/Balance must not drop below 180K |
Maximum Drawdown
Maximum Total Drawdown | 10%
The maximum total drawdown is 10%. Therefore, the equity of the account must not fall below 90% of the initial demo account balance both for open and closed positions, including simulated commissions and simulated swaps
Drawdown Examples
Click the button below to navigate to a page that outlines drawdown examples and scenarios so you are well aware of how the drawdown rules work for the Royal Challenge at The Funded Trader.
Please note both the daily drawdown and max drawdown breach on an account include commissions, swap fees and dividends as well.
Note: We also utilize a reconciliation module that reviews breaches the following day to add an additional layer of verification for any breach activity.
Violations
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.
Holding Trades & Simulated Weekend Crypto Trading
Challenge Type | Hold Trades Overnight | Hold Trades Over Weekend | Weekend Crypto Trading |
Royal Challenge | Yes | Yes | Yes |
Note: Holding trades over the weekend refers to keeping positions open after 5 pm EST on Friday.
Weekend Crypto Trading & Maintenance Schedule
For Weekend Crypto Trading Hours and Maintenance Schedule, please follow this article for more details.
NOTE: All Phase 1, 2, 3 and as well as TFT Funded Accounts are routed through a simulated feed, therefore simulating real market conditions.
A payout means you are paid based on data which is measured by simulated profit.
Royal Challenge Scaling
Eligibility: Traders must show profitability of at least 6% over a 3-month period.
Scaling Increase: 25% increase of initial demo account balance per scaling event.
Royal Challenge Scaling Examples
Initial Virtual Starting Balance | Scaling Event | New Virtual Starting Balance |
100K | 25% of original starting balance added to virtual starting balance | 125K |
125K | 25% of original starting balance added to virtual starting balance | 150K |
150K | 25% of original starting balance added to virtual starting balance | 175K |
A full overview of the Scaling Program can be read in this article.
Royal Challenge Pricing
Account Size | Price | With 14 day withdrawals Add-on | Third Payout Bonus |
$5k | $60 | $72 | $60/$72 |
$10k | $120 | $144 | $120/$144 |
$25k | $189 | $227 | $189/$227 |
$50k | $289 | $345 | $289/$345 |
$100k | $489 | $585 | $489/$585 |
$200k | $1,158 | $1,390 | $1,158/$1,390 |