Succeed in the challenge by following the below requirements:
8% PROFIT in 30 days
MINIMUM 10 DAYS of trading
MAXIMUM Daily Loss (Drawdown) (Equity) of 5%:
- for the $25K account - $1250
- for the $50K account - $2500
- for the $100K account - $5000
- for the $200K account - $10000
MAXIMUM Overall Loss of 12%:
- for the $25K account - $3000
- for the $50K account - $6000
- for the $100K account - $12000
- for the $200K account - $24000
DAILY LOSS (DRAWDOWN) CALCULATION:
(Equity at the current time - The end of the previous day equity) / The end of the previous day equity) X 100
This formula will result in a percentage that would be your daily loss (drawdown).
Please note that the Maximum Daily Loss is reset at midnight MetaTrader Server time.
Failure to comply with these requirements will cause you to fail the challenge. However, you may go ahead and try again by purchasing a new account.
After phase 2, our Trading Experts will investigate your trading style and consistency before providing you with a funded account. Please keep the below points in mind whilst trading on a demo account:
- MAX OVERALL PROFIT IN 1 TRADING DAY = 20-30%
- LOT SIZES.
- IF/WHEN POSITIONS ARE SCALED.
- POSITION SIZES BEFORE/DURING NEWS EVENTS / MARKET CLOSURES.
- POSITION SIZES CONSISTENCY.
- IF/HOW STOP LIMITS ARE USED.
Once our team has investigated thoroughly, they will determine whether your applied strategy is adequate for EmpowerFX. You will be notified via email if you are granted a funded account or not.
IMPORTANT The MetaTrader server time can change between GMT+2 and GMT+3 due to daylight savings time adjustments. You can find the current MetaTrader server time displayed in the top left corner of your MetaTrader account.
