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FAQ
- What rules do I need to follow in the Vantage Elite Challenge?
- Can I trade news?
- Can paused accounts be reactivated?
- What happens if I have more than $400,000 in Challenge Accounts?
What rules do I need to follow in the Vantage Elite Challenge?
In the Vantage Elite Challenge, you must adhere to the following rules:
- Minimum trading days: 4 days
- Maximum daily loss: 5% for Basic accounts, 10% for Plus+ accounts1
- Maximum total loss: 10% for Basic accounts, 20% for Plus+ accounts2
- Profit target: 10% for Basic accounts, 20% for Plus+ accounts
Example:
A trader has chosen a $10,000 Basic account for the Vantage Elite Challenge. They must adhere to the following rules:
- Minimum trading days: 4 days
- Maximum daily loss: 5% ($500)
- Maximum total loss: 10% ($1,000)
- Profit target: 10% ($1,000)
The below scenarios are calculations that are done based on the start of the day balance.
Scenario 1:
| Day | |||
| 1 | 2 | 3 | |
| Start of Day Account Balance ($) | 10,000 | 11,000 | 10,800 |
| Max Loss Account Threshold ($) | 9,000 | 9,000 | 9,000 |
| Max Daily Loss Account Threshold ($) -This is based on your start of day balance. | 9,500 | 10,500 | 10,300 |
| End of Day Account Balance ($) | 11,000 | 10,800 | 10,200 |
In this scenario, the trader exceeded the maximum daily loss limit on Day 3, hence breaching the challenge rules. As a result, the account is closed, and the trader must resubscribe to a new account to attempt the challenge again.
Scenario 2:
| Day | |||
| 1 | 2 | 3 | |
| Start of Day Account Balance ($) | 10,000 | 9,600 | 9,200 |
| Max Loss Account Threshold ($) | 9,000 | 9,000 | 9,000 |
| Max Daily Loss Account Threshold ($) | 9,500 | 9,100 | 8,700 |
| End of Day Account Balance ($) | 9,600 | 9,200 | 8,900 |
In this second scenario, the trader exceeded the maximum total loss limit on Day 3, hence breaching the challenge rules. As a result, the account is closed, and the trader must resubscribe to a new account to try the challenge again.
1Maximum daily loss is based on trailing drawdown. The trailing drawdown is recalculated daily based on your account balance at the start of each day, adjusting with any profits or losses.
2Maximum total loss is based on absolute drawdown. Absolute drawdown measures the largest loss from your initial account balance during the challenge, and it remains constant throughout the challenge.
