2-Step Account Rules:
Phase 1:
- Simulated Gains Target: 8%
- Simulated Daily Drawdown Limit: 5%
- Simulated Max Loss: 8%
- Minimum Trading Days: 1
- Challenge Time Limit: Unlimited
Phase 2:
- Simulated Gains Target: 5%
- Simulated Daily Drawdown Limit: 5%
- Simulated Max Loss: 8%
- Minimum Trading Days: 1
- Challenge Time Limit: Unlimited
Live Sim Account:
- Simulated Gains Target: None
- Simulated Daily Drawdown Limit: 5%
- Simulated Max Loss: 8%
- Minimum Calendar Days to First Payout: 14 days after first trade
- Simulated gains Split: 80%
In the 2-Step demo account program at MyFundedFX, we have specific rules and simulated targets for each phase. Here's a breakdown of the rules and simulated targets:
Phase 1:
During Phase 1, traders aim to achieve a simulated profit target of 8% of the starting demo account balance. They should manage their simulated trades carefully to stay within the daily simulated drawdown limit of 5%. The maximum acceptable simulated loss in this phase is capped at 8%. Traders are required to trade on a simulated basis for a minimum of 1 day, and there is no time limit for completing the challenge.
Phase 2:
In Phase 2, traders work towards a simulated profit target of 5% of the starting account balance. Similar to Phase 1, they traders need to stay within the daily simulated drawdown limit of 5% and ensure the maximum simulated loss does not exceed 8%. The minimum simulated trading requirement remains at 1 day, and there is no time limit for completing the challenge.
Simulated Prop Demo Account:
Once traders successfully complete Phase 2 in simulated trading, they enter the Simulated Prop Demo Account phase. In this phase, there is no specific profit target. Traders are still required to adhere to the 5% daily simulated drawdown limit and ensure the maximum simulated loss does not exceed 8%. A minimum of 14 calendar days must pass after the first simulated prop demo account trade before the first payout is made. Traders receive an 80% split based on net gain, if any, in their simulated prop demo account trading performance.
These demo account rules are designed to guide traders through a progressive journey while maintaining risk management. Traders are encouraged to focus on achieving the simulated profit targets, managing simulated drawdowns effectively, and meeting the specific requirements for each phase.
If you have any further questions or need additional information about our account rules, please feel free to reach out to our support team. We are here to support you throughout your trading experience with MyFundedFX.
Disclaimer:
All content published and distributed by MyFunded Solutions LLC out of Delaware, MyFundedFX, and its affiliates (collectively, the “Company”) provided for general informational and instructive purposes only. None of the information provided by the Company or contained herein is intended as investment advice, an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of, any security, investment, company, or fund. Leveraged products such as CFD’s and FX trading are complex instruments with a high risk of losing money. Please note; The information on the website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. Copyright (c) 2023. All right Reserved. MyFunded Solutions LLC out of Delaware.