Two Steps Challenge Rules
The Two Steps Challenge at FXRK is designed to evaluate your trading skills under real market conditions. Below are the specific rules you need to follow:
Phase 1 Target:
To progress to Phase 2, you need to achieve an 8% profit target. This target must be reached while adhering to all other trading rules.
Phase 2 Target:
After successfully completing Phase 1, your goal in Phase 2 is to achieve a 5% profit target. This phase is essential to further prove your consistency and risk management abilities.
Time Limit:
There is no time limit to achieve your targets. This allows you to trade at your own pace without the pressure of a deadline.
Drawdown Based:
Your Maximum Daily Loss is calculated based on your account Balance at the start of the day, not the Equity, which provides more control to the trader. It’s important to manage your trades carefully to stay within the permitted drawdown levels.
Payout Frequency:
If you succeed in the challenge, you will receive your payouts on a weekly basis, providing a consistent and reliable income stream.
Max Daily Loss:
The maximum loss (Closed + Open Positions) you can incur in a single day is 5% of your initial account balance. Staying within this limit is crucial to avoid disqualification.
Max Total Loss:
Across the entire challenge, you cannot lose more than 10% of your account balance. This rule ensures that risk is managed effectively across all trading days.
Profit Split:
Once you pass the challenge, you’ll be eligible for a profit split. FXRK offers a competitive 80% / 90% profit split, rewarding you generously for your trading success.
Trading Leverage:
You will trade with a leverage of 1:100, providing ample opportunity to capitalize on market movements while requiring prudent risk management.
News Trading:
You are permitted to trade during news events. This can be a double-edged sword, so ensure you’re prepared for the volatility that news trading can bring.
Weekend Holding:
You are allowed to hold positions over the weekend. This gives you flexibility but also requires careful consideration of potential market gaps.
One Step Challenge Rules
The One Step Challenge at FXRK offers a streamlined evaluation process where you can prove your trading abilities in just one phase. Below are the specific rules you need to follow:
Phase 1 Target:
Your goal in this single-phase challenge is to achieve a 10% profit target. This is the main requirement to successfully pass the challenge.
Time Limit:
There is no time limit for this challenge. You can take your time to reach the profit target without the pressure of deadlines.
Drawdown Based:
Your Maximum Daily Loss is calculated based on your account Balance at the start of the day, not the Equity, which provides more control to the trader. It’s important to manage your trades carefully to stay within the permitted drawdown levels.
Payout Frequency:
Payouts are made on a weekly basis, ensuring you receive regular income as you continue to meet the challenge’s requirements.
Max Daily Loss:
The maximum loss allowed (Closed + Open Positions) in a single day is 3% of your initial account balance. Adhering to this limit is essential to avoid disqualification.
Max Total Loss:
You cannot lose more than 6% of your account balance throughout the challenge. This rule ensures your risk is managed effectively.
Profit Split:
Once you pass the challenge, you are eligible for a profit split. FXRK offers an attractive 80% / 90% profit split, allowing you to earn substantial rewards for your trading success.
Trading Leverage:
You will be trading with a leverage of 1:100, offering significant potential for profit while requiring careful risk management.
News Trading:
You are permitted to trade during news events. While this can create volatility, it also offers opportunities for those who can manage the risks effectively.
Weekend Holding:
You are allowed to hold positions over the weekend. This gives you the flexibility to maintain positions as market conditions evolve.