To streamline violation deductions and improve the overall funded process as well as payouts, we have updated our approach to make deductions directly on challenge and funded accounts on a daily basis. Below are some frequently asked questions regarding these changes:
What is changing in the risk process?
For Funded Accounts, violations have been deducted on the following day since October 21st, 2024.
Starting November 18th, Phase 1 and Phase 2 accounts will follow the same process, with violations deducted the next day instead of at the payout level or directly on the violation date.
How will I know if my account is affected?
Our Risk Team will notify you directly if deductions are applied to your account, whether it is a Funded Account or a Phase 1/Phase 2 account.
When will deductions occur?
Funded Accounts: Violations have been deducted within 1 business day of the violation date since October 21st, 2024.
Phase 1 and Phase 2: Deductions will be processed within 1 business day of the violation date starting November 18th, 2024.
What happens if a deduction leads to a breach of the maximum loss limit?
If the deduction causes a breach of your maximum loss limit, the account (Funded, Phase 1, or Phase 2) will be considered breached, meaning it is failed and no longer tradeable.
What should I do if a deduction significantly reduces my daily loss limit?
We strongly encourage traders to pause and resume trading the next day after the daily loss reset to minimize the risk of breaching the daily loss limit.
Does this affect payouts for Funded Accounts?
No, these changes are specific to violation deductions and do not impact how or when payouts are processed for Funded Accounts.
Who should I contact for questions about the updated process?
For any questions or clarifications about the updated deduction process for Funded Accounts, Phase 1, or Phase 2, please contact our Risk Team.