Challenges you design, rules the engine enforces

Staff build each challenge in the back office: its phases, its rules and its payout schedule. The rules engine then checks every account on every price, and acts the moment a limit is touched.

The rules

Percentages are of the phase's starting balance unless a rule says otherwise. Equity includes open profit and loss, commission and swaps.

Daily loss limit: Measured from the balance, the equity, the higher of the two, or the initial balance. The day resets at 00:00 UTC. Profit closed during the day doesn't move the floor until the next reset.
Maximum loss: Fixed, trailing, or trailing until it reaches the initial balance. A trailing floor follows the highest equity.
Profit target: Met when the balance reaches the target after costs, with nothing open or pending.
Minimum trading days: A day counts when its first position opens. A phase can't pass before enough days are counted.
Trading period: A deadline set from the moment the phase starts. If the target isn't met by then, the phase fails, on time, by timer, whether prices arrive or not.
Maximum lots per order: An order above the limit is refused.
Warnings: Warning levels before a limit, for example at 70, 80 and 90 percent of the allowance. Each one is written to the account's journal.

What happens at a breach

Equity touches a floor. Touching counts: equity at the floor is a breach, one cent above is not.
The account locks at once. Pending orders are cancelled and requests in flight are refused.
Open positions close at the accepted price.
The breach record is written: the rule, the rule-set version, the equity, the floor, the price ID and the sequence number.

The breach record of a test account: rule Daily loss limit (rule set v1), equity $99,487.50, floor $99,500.00, quote Q5250, sequence 6, the time and reference values, and a green note that the replay from the journal matched every recorded event. — The breach record of a test account, as staff see it. The replay at the bottom rebuilt the account from its journal.

The breach record of a test account, as staff see it. The replay at the bottom rebuilt the account from its journal.

The challenge builder

Everything about a challenge is set in one editor in the back office.

Phases: Up to seven phases, the last one funded, with a profit split. Each phase has its own rules, leverage and commission.
Passing a phase: A pass can open the next phase automatically, or wait for a staff member to review it.
Payout schedule: The first payout after a set number of days, then every set number of days after that.
Account sizes: Several account sizes per challenge, each priced on its own.
Identity checks: Each challenge says where an approved identity check is needed: before buying it, before the funded account opens, before a payout, or not at all.
Copying: Each challenge says whether its accounts can copy trades: not at all, only between the trader's own accounts, or from public strategies too.
Add-ons: Optional extras bought at checkout can change one setting of the challenge they are bought with, such as the profit split or the payout schedule. More on add-ons
Versions: Every saved change creates a new version, and each change needs a reason. A version never changes once it has been sold: accounts keep the rules they were bought with.

The challenge editor's phase table: profit target, daily loss limit, maximum loss and its type, minimum trading days, trading period, leverage, commission, automatic pass, profit split and payout schedule for Phase 1, Phase 2 and Funded. — The phase table in the challenge editor, on test data. Saving creates the next version.