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FAQs

What are the Rules for the N Challenge?

• 5% Daily Loss Limit (hard breach).

• 6% Max Trailing Drawdown (hard breach).

• Must place a trade once every 30 days (hard breach).

• Stop-loss required for each trade (soft breach) unless you have purchased the extra add-on to bypass this rule.

• Flat for the weekend – all positions closed on Friday at 3:45PM EST (soft breach) unless you have purchased the extra add-on to bypass this rule.

• Maximum open positions (in lots) must not exceed 1/10000th the size of the N Challenge account (soft breach). For example, a $100k account can have up to 10 lots open with risk and 1:10 leverage. In case of higher leverage this changes accordingly.

What is the difference between a Hard Breach and Soft Breach rule?

• Soft breach means that we will close all trades that have violated the rule. However, you can continue trading in your N Challenge or Funded account.

• Hard breach means that you violated either the Daily Loss Limit or Max Trailing Drawdown rule. Both rules constitute a hard breach. In the event you have a hard breach, you will fail the N Challenge or have your Funded account taken away.


How do you calculate the 5% Daily Loss Limit?

• Daily Loss Limit is calculated based on the previous day’s end of day (5pm EST) balance.

• Example: If your prior day’s end of day balance was $1,000,000 you would breach the Daily Loss Limit of 5% should your equity the next day fall to $950,000.

How do you calculate the 6% Max Trailing Drawdown?

• Maximum Trailing drawdown is the maximum your account can drawdown before you would hard breach your account. When you open the account, your Max Trailing Drawdown is set at 6% of your starting balance. This 6% trails your closed trading balance until you reach 6% profits in your account.

• Once you have achieved 6% in your account the max trailing locks in at your starting balance, and no longer trails your account.

• Example: If your starting balance is $100,000, you can drawdown to $94,000 before you would violate the Maximum Trailing Drawdown rule. Then for example let's say you take your account to $102,000 in closed balance. This is your new high-water mark, which would mean your new Maximum Trailing Drawdown would be $96,000. Next, let's say you take your account to $110,000 in closed balance, which would be your new high-water mark. At this point your Maximum Trailing Drawdown would be locked in at your starting balance of $100,000. So, regardless of how high your account goes, you would only breach this rule if your account drew back down to $100,000 (note, you can still violate the Daily Loss Limit). For example, if you take your account to $170,000, as long as you do not drawdown more than 5% in any given day, you would only breach if your account equity reaches $100,000.

Why do I have to place a stop loss on trades?

In line with sound risk management practices, we require a stop loss on every trade. If you fail to place a stop loss at the time of placing the trade/order, we will close the trade. This is only soft breach rule, so you can continue trading in your account.

*You can purchase an extra add-on to your trading account that bypasses this stop loss rule.

Can I hold positions over the weekend?

We require all trades to be closed by 3:45pm EST on Friday. Any trades left open after this time will automatically be closed. Note, this is only a soft breach and you will be able to continue trading once the markets reopen.

*You can purchase an extra add-on to your trading account that bypasses this weekend rule.

What is 1 lot equal to on the Trading Platform?

• Forex - 1 lot = $100k notional

• Index - 1 lot = 10 Contracts

• Cryptos - 1 lot = 1 coin

• Stocks - 1 lot = 100 shares

• Silver - 1 lot = 5000 ounces

• Gold - 1 lot = 100 ounces

• Oil - 1 lot = 1000 barrels

How many lots can I trade? (Max Lots with Risk)

Below are the maximum open lots across all pairs that a trader can have at any given time. These are based on 1:10 leverage and vary according to the chosen leverage.

• $5K - 0.5 lot with risk

• $10K - 1 lot with risk

• $25K - 2.5 lots with risk

• $50K - 5 lots with risk

• $100K - 10 lots with risk

• $250K - 25 lots with risk

• $500K - 50 lots with risk

For example, if you are in the $100k plan you will have 10 open lots with risk available.

If you buy 5 lots of EURUSD at 1.20 and your stop loss is at 1.18, you will have 5 lots on with risk, so you would have 5 still available. If the EURUSD moves up to 1.25, and you update your stop loss to be at 1.20, which would be your open price, you no longer have risk on that trade. So, you would again have 10 lots available, even though you currently have 5 lots open.

If you put on too many trades with risk, then our system will liquidate all trades that currently have risk.

Please note, margin and leverage requirements still apply. So, even though these are the maximum lots that can be traded, it is possible based on the leverage of the account that you may not be able to trade up the maximum.

Is there a breach for inactivity?

Yes. If you do not place a trade at least once every 30 days on your account, we will consider you inactive and your account will be breached.

*Upgrades:

Note: Double Leverage only applies to Forex and Metals

- Hold Over the Weekend (+10% on Fee)

- Double Leverage (up to 1:50) (+25% on Fee)

- Stop Loss Not Required (+10% on Fee)

- 90% Profit Share (+20% on Fee)

How Long does it take to receive my Funded account?

We work with a company called Deel to issue trader agreements and process withdrawals of profits.

Upon passing your N Challenge, you will receive an email from Gabriella from Deel gabriella@deel.support with instructions on how to access and complete your Trader Agreement.

Once the agreement is completed and supporting Know Your Customer documents provided, your Funded account will be created, funded and issued to you typically within 24-48 business hours.

Once I pass the N Challenge am I provided with a demo or live account?

Once you pass the N Challenge, we provide you with a live account, funded with real capital.

What are the rules for the Funded account?

The rules for the Funded account are exactly the same as your N Challenge account. However, with a Funded account, there is no cap on the profits you can generate.

If I have a hard breach in my live account and there are profits, do I forfeit those profits?

If you have profits in your Funded account at the time of a hard breach, you will still receive your portion of those profits.

For example, if you have a $100,000 account and you grow that account to $110,000. Should you then have a hard breach we would close the account. Of the $10,000 in profits, you would be paid your 90% portion ($9,000).

How do I withdraw my profits?

When you are ready to withdraw your profits, please do so through the trader's dashboard.

We will then post your profit share into your Deel account, which you can withdraw via any of the available methods they offer.

When can I withdraw profits from my Funded account?

You can withdrawal your profits at any time, once per calendar month. At the time of any withdrawal request, we will also withdraw our share of the profits made, as well.

Important Note: Once you request a withdrawal, your maximum trailing drawdown will be set at your starting balance. This means that if you take a full withdrawal of your share of the profits made in your account, it will also serve as a breach of your account.

Do I have to use one of your accounts for the N Challenge or can I use my own?

We have risk management software that is synced with the accounts we create. This allows us to analyze your performance in real time for achievements or rule violations. As such, you must use an account that we provide to you.

What Countries are accepted?

All countries, excluding OFAC listed countries, can take part in our program.

What is the minimum age I must be to be part of your program?

You must be at least 18 years of age to purchase an N Challenge.

Where do I track the progress of my account?

Upon purchasing an N Challenge, you will receive access to a trader dashboard where you can monitor your N Challenge and Funded accounts. The dashboard is updated every time we calculate metrics, which occurs roughly every 60 seconds. It is your responsibility to monitor your breach levels.

What Platform can I trade on?

Our risk management technology is currently integrated with the most well known trading platforms. These platforms, along with pricing and execution are provided by our broker, EightCap.

What products can I trade?

You can trade any products offered by EightCap. This includes FX pairs and CFD Indices, Metals, Equity Shares, and Cryptocurrencies.

What is the leverage?

In line with sound risk management practices, we allow up to 25:1 leverage on Forex, Metals, and Indices are 10:1. Equity Shares are 5:1. Cryptos are 2:1.

*You can purchase an extra add-on to your trading account that doubles the leverage on FX and Metals trades.

What are the trading hours?

Trading hours are set by EightCap. We do not have any control over the trading hours. You can see the trading hours for each product by right-clicking on any product in the Market Watch window of the trading platform and selecting Specifications from the dropdown menu.

Please note that holidays can have an impact on available trading hours.

Additionally, pursuant to the no holding trades over the weekend rule, we close all open trades at 3:45pm EST on Fridays.

*You can purchase an extra add-on to your trading account that bypasses this weekend rule.

Do your accounts charge commissions?

We use the RAW accounts from EightCap. These accounts have commission charges for Forex and Equity Share CFDs. The other products do not carry a commission.

Can I use an Expert Advisor?

Yes, you can trade using an Expert Advisor.

Can I trade during the News?

Yes, you can trade during the news.

How will I see the charge on my Statement?

Charges come across in the name of Dashboardanalytix.com.

How are taxes handled?

When trading a Funded account for our firm, you are treated as an independent contractor. As a result, you are responsible for any and all taxes on your profit share.