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The 2-Step objectives on an Access account: a 5% daily and 12% maximum drawdown, and one trading day per phase.
The daily drawdown is 5% of the account’s starting balance of the day. If your account balance or equity falls below it, this will be considered a violation of the rules. The limit resets at midnight (broker time).
Example 1
You start trading with a $50,000 account and your daily drawdown is 5% ($2,500). If your account balance or equity falls below $47,500 at any point in a day, it will be considered a violation of the rules.
Example 2
You start trading with a $50,000 account and gain a 2% ($1,000) profit. Your daily drawdown then increases to 7% ($3,500) for the given day. If your account balance or equity falls below $47,500, it will be considered a violation of the rules.
Example 3
You have a $100,000 account, the maximum daily loss limit is $5,000, and you have gained $1,000 in profit on that day. You will be allowed to lose $1,000 (your profit) + $5,000 (your daily loss limit) = $6,000 for that day only. The next day your daily loss limit resets and is calculated from the starting balance of the day, which is $101,000.
Maximum drawdown is 12% of the account’s initial balance, and the balance or equity of the account should not exceed the limit.
Example
You start trading with a $50,000 account and your maximum drawdown is capped at 12% ($6,000). If your account balance or equity falls below $44,000 at any point in a day, it will be considered a violation of the rules.
Phase 1: 1 trading day. Phase 2: 1 trading day. Funded: 1 trading day.
Only opening and closing a trade on the same day counts as a trading day. For instance, if a trade opens on a Monday and closes on Wednesday, it counts as 1 trading day.
The first reward is 80% of the profits. From the second reward onward, traders receive 85%. After scale-up, 95%.
The first payment is made after four weeks, and every two weeks (14 days) after the first payment.
Traders can request a reward through the dashboard once they have met all the requirements and complied with all the rules. Rewards are paid on the second and last Tuesday of every month.
If a rule is violated
If any of the rules are violated, the trader will not be able to withdraw or request a reward on profits. Example 1: you have a $10,000 account and are $300 in profit — if rules are violated you will not be able to withdraw the $300. Example 2: you have a $50,000 account and are $5,000 in profit — if you lose $3,000 you will not be able to withdraw the remaining $2,000, since the 5% daily drawdown limit is triggered and it is considered a violation of the rules.
The sections next to this one in the help centre.
If an answer here did not settle it, these are the three places that will — in the order they are usually the right one.
Compare the objectives for every model and stage, see exactly what is payable and when, and start where it suits you.
FOREXIVE provides demo accounts with fictitious funds for simulated trading only. Rewards depend on performance and the rules of the applicable programme.