Overview of the Elite Challenge at Top One Futures
At Top One Futures, we offer a dynamic and flexible approach for traders to prove their skills and qualify for a Sim Funded Account through our Elite Challenge. This challenge is designed for traders who demonstrate strong risk management and the ability to meet profit targets, all while ensuring fair and transparent rules for evaluation. Here’s a breakdown of the key elements:
1. Profit Target
Traders in the Elite Challenge must reach a 6% profit target to qualify for a Sim Funded Account. This target is based on the initial account balance:
$50,000 account → $3,000 profit target
$100,000 account → $6,000 profit target
$150,000 account → $9,000 profit target
Unlike other firms, we have no consistency rule during the challenge phase, meaning traders can reach their profit target in any number of days or with varying profit distribution. Whether you hit the target in one big move or over several sessions, as long as you stay within the risk parameters, you qualify for the next phase.
2. Risk Management: Drawdown Rules
At Top One Futures, risk management is key, and our Daily Drawdown and Max Trailing Drawdown are in place to protect traders:
Daily Drawdown: Set at 2.5% of the account balance, based on the end-of-day balance. If this is breached, trading will pause for the day, but you can resume the following day.
Max Trailing Drawdown: The starting Max Trailing Drawdown is set as follows:
$50,000 account → $2,000
$100,000 account → $3,500
$150,000 account → $5,000
This trailing drawdown adjusts dynamically based on your highest closed balance at the end of the day. For example, if you reach a balance of $51,000 on a $50,000 account, the trailing drawdown moves to $49,000. If the balance drops below this level, the account is breached.
Once you reach the drawdown limit plus $100, it locks at your starting balance, ensuring it no longer trails with your account growth.
3. Activation Fee
After successfully completing the Elite Challenge, there is a one-time activation fee of $149 to activate your Sim Funded Account. This fee applies to all account sizes and covers the transition from challenge to live trading.
4. No Contract Scaling Requirements
There are no contract scaling requirements for Elite Accounts. The maximum number of contracts allowed for each account size is fixed and does not change as you progress through the challenge. This provides flexibility and allows traders to choose the account size best suited to their trading goals.
5. Consistency Rule for Sim Funded Accounts
While there is no consistency rule during the Elite Challenge phase, once you transition to an Elite Sim Funded Account, a 25% consistency rule applies. This rule ensures that no single trading day’s profit exceeds 25% of your total profits, promoting steady and sustainable performance.
6. Challenge Account Reset
If your account is breached, you can reset your challenge account at a reduced fee rather than purchasing a new evaluation:
$50,000 Challenge Account → $39
$100,000 Challenge Account → $79
$150,000 Challenge Account → $119
This reset restores your account to its starting balance and gives you a fresh start, allowing you to continue your evaluation without starting from scratch.
7. One-Day Pass
At Top One Futures, we offer the flexibility to pass the Elite Challenge in just one trading day. If you hit the 6% profit target on the first day and follow the rules, you can immediately qualify for a Sim Funded Account. This offers a fast, flexible path to funding without unnecessary delays.