In the Express Challenge (both on your Challenge Phase and FundedNext Account), you are not allowed to open or close any trade for 5 minutes before and after the news. This restriction applies to all trade types, including Market Execution and Pending Orders. (Including SL and TP orders).
As an illustration, on May 2nd, a high-impact news event occurred at 7:30 AM. As per our rules, traders were restricted from opening or closing trades from 7:25 AM to 7:35 AM (5 minutes before and 5 minutes after the news).
However, please note that you are allowed to hold your running trades during news events.
Additionally, only high-impact news events that have a direct correlation with the trading pairs will be taken into consideration. If the news is not directly correlated to your trading pair or is low or mid-impact, you are free to take trades.
For example, if you want to take a trade-in EURUSD, and there is high-impact news on CNY, you can still open the EURUSD trade as the CNY news is not directly correlated to your trading pair. But if the news were in USD or EUR, then you would be restricted from opening or closing a trade 5 minutes before and after the news.
Please refer to the image below to see which currency news events are directly correlated to your trading pair:
Now, what will happen if there is any News Trading in your account?
For Express Challenge accounts:
You won't receive any profits at the end of your trading cycle, and your account will be reset to its initial balance. However, if your account wasn't profitable at the end of the trading cycle (which lasts for 4 trading weeks), it won't be reset to the starting balance.
For Express FundedNext Accounts:
In an Express FundedNext Account, you will receive the profit share after deducting the amount made from news trading, and your account will be terminated. On the other hand, if you experience losses, your account won't be reset, but it will be terminated.