The FundedNext Trading Competition has a set of rules that participants must adhere to. Here are the key rules for the competition:
Single Account Registration: Each participant is allowed to register only one account using a single email address and IP address. Registering multiple accounts will lead to disqualification from the competition.
Daily Drawdown: Our daily loss limit specifies that you are permitted to lose 5% of your initial account balance on any given day. So here is how the calculation works:
Daily loss limit = Your Last day's Balance - Today's Balance/Equity
Maximum Allowable Drawdown: The maximum allowable drawdown in the competition is set at 10% of the initial balance. Participants must ensure their drawdown does not exceed this limit.
Prohibited Use of EAs: The use of Expert Advisors (EAs) is not allowed during the competition. Participants are expected to engage in manual trading only.
Minimum Trading Days: To be eligible for winning a prize, participants must actively trade for a minimum of 5 days during the competition period.
Leverage: The leverage for the competition follows the standard levels of 1:100 for all FX pairs and 1:30 for commodities and indices.
Position and Lot Size Limits: Throughout the trading period, you are welcome to open as many positions as you wish. But, participants can execute a maximum of 5 positions at a time. The lot size limits are set at 5 lots for FX instruments and 3 lots for indices and commodities. The maximum lot size is 5/per position for Forex pairs, and the Maximum lot size is 3/per position for indices and commodities.
For Example:
5 Lot EURUSD
3 Lot XAUUSD
3 Lot GER30
3 Lot US30
5 Lot GBPUSD
Total Lot: 19
Total Position: 5 (Max Position)
Trade Closure: There is no restriction on closing your trades. Feel free to hold them overnight or over the weekend. But please know that all the trades in the FundedNext Competition account will be automatically closed 15 minutes before the competition ends.
Kindly refer to the image below to learn more about the rules of the FundedNext competition.
It's important to thoroughly review and understand these rules before participating in the FundedNext Trading Competition. Failure to comply with any of the rules may result in disqualification from the competition.