Express Challenge

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General FAQ
Standard Evaluation
Express Challenge
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Payout System
Can I have more than one Express Challenge account?

You can have a maximum of 300k funding from Elites Funding. You can reach this funding limit with a single program or a combination of Express and Evaluation programs.

Do I need to close my positions overnight/weekend?

No. You’re permitted to hold your trade overnight and over the weekend for the Express Challenge program.

How much is the profit split for Express Challenge?

With Elites Funding, you’ll get up to a 90% profit split.

You’ll get an 80% profit share initially. With scale-up, you’ll be eligible for a 90% profit share.

How do you calculate the Maximum Daily Loss?

This principle, often termed the “trader’s daily stop-loss,” constitutes a fundamental element of our trading framework. According to our guidelines, this stop-loss is established at 3% of the initial account balance.

It stipulates that at any given time during the day, the total outcome of all completed trades combined with the current unrealized profits or losses on open positions must not surpass the predetermined daily loss limit. This is calculated using the following formula:

Current daily loss = Total outcome of completed trades for the day + Outcome of open positions.

For instance, let’s consider an initial account balance of $100,000, with the maximum daily loss set at $3,000. If you incur losses of $2,400 from closed trades, your account should not decrease by more than $600 on that day. Additionally, the total of your open floating losses should not exceed -$600. It’s crucial to note that this limit incorporates commissions and swaps.

Conversely, if you earn $1,500 in profits in a single day, you can withstand losses of up to $4,500, but no more. Remember, your Maximum Daily Loss encompasses your open trades as well. For example, if you realize losses of $1,800 from closed trades in a day and subsequently open a new trade resulting in a floating loss of -$1,710 before eventually turning positive, you’ve already exceeded the daily loss limit, as your equity momentarily stood at -$3,510, exceeding the permitted loss of $3,000.

Be mindful that the Maximum Daily Loss resets at midnight. For instance, if you earn a profit of $1,200 in one day and simultaneously hold an open position with a floating loss of $3,900, you’re within the daily loss limit for that day, with a current daily loss of $2,700 ($1,200 profit from closed trades – $3,900 from open position). However, if you retain this position with an open loss of $3,900 after midnight, you’ll breach the daily loss limit, as profits from the previous day do not carry over, and the $3,900 open loss exceeds the $3,000 maximum daily permitted loss.

How do you calculate the Maximum Overall Loss?

This principle, commonly referred to as the “account stop-loss,” dictates that the equity of the trading account should always remain above 94% of the initial account balance throughout the account’s duration. For example, in the context of a Challenge with a starting balance of $100,000, this means that the lowest possible equity of the account can be $94,000. Once again, this encompasses both closed and open positions (account equity, not balance), and the calculation logic mirrors that of the Maximum Daily Loss, albeit spanning the entire testing period rather than just a single day. This threshold incorporates commissions and swaps.

Allocating 6% of the initial account balance provides traders with a sufficient buffer to demonstrate the suitability of their account for investment. It acts as a safety net, ensuring that traders can continue trading even if they experience initial losses. Crucially, this assurance extends to investors, who can rely on the fact that the trader’s account will never fall below 94% of its value under any circumstances.

What will happen If I break the 3% daily loss limit?

If a trader violates the daily drawdown rule, his account will be suspended.

Is there any profit target in the evaluation phase??

Yes, You have to reach a 10% profit target in evaluation phase with NO TIME LIMIT.

How many days will I get to complete the evaluation phase?

For the evaluation phase there is NO TIME LIMIT. You can complete this phase as soon as you can by following the rules and reaching the 10% profit target.

Please keep in mind that if your account is inactive (with no new trades) for more than 60 days, we will close the trading account without the possibility to reopen it.

When will I get the funded account in Standard Evaluation model?

There is no restricted time limit to wait. If you hit the profit target by complying with all the rules, after you pass the evaluation phase all you need to do is pass the KYC and sign the trading agreement contract.

As soon as our team checks your details, you will receive the funded account. 

When will I receive my refundable fee?

The fee which you pay to take part in a challenge is refundable only if you reach the Funded account.

Once you reach the funded account you must also complete the minimum 10 trading days for this phase, until you can make your first payout request.

Your fee will be refunded together with your first payout.

Is there any profit target in the Express Challenge model funded account?

No. Once you have completed the evaluation phase you will become one of our Elite crown traders.

At this point, there is no profit target at all. You’ll get a chance to trade freely and make as much profit as you want.

If I complete the profit target before 4 days will i get the funded account?

No, there is a minimum of 4 trading days, so you must trade for at least 4 days before passing the phase.

How much profit share will I get from the funded account?

After receiving your funded account you will get a profit share of 80%. What’s even more exciting, with the first scale-up, you’ll be eligible for a 90% profit share.

Will I have to follow the 3% daily loss limit rule in the funded account?

Yes, you would have to follow this rule.

Will I have to follow the 6% overall loss limit rule in the funded account?

Yes, you would have to follow this rule.

Do I need to send any documents for verification?

Before receiving a funded account in any of our models, you need to provide us with the following documents so that we can verify your identity:

1. Photo of your National ID/ Passport/ Driving License.
2. Photo of your recent Utility Bill/ Phone Bill/ Tax Documents/Bank Statement.

You can send these at [email protected]

What happens to the profits I made if my Funded Account is suspended?

If your funded account has been suspended in profit, you will be eligible for 50% of the profits you made if your trades comply with the following two criteria:

1. All of your funded account trades must have SL.
2. You must not lose more than 1% of your account size on any individual trade.

You must meet both of the criteria mentioned above. Then you will have seven days after the violation to request the 50% profit disbursement from the suspended funded account.

What does DBDD Violation mean?

DBDD stands for Daily Balance Drawdown Detected!

This means that you violated the rule that does not allow you to lose more than 5% of the account balance available at the begining of the trading day. 

Please keep in mind that this rule applies for equity as well, meaning that if your open trades will reach -5% of the account balance available at the beginning of the trading day, your opened trades and your account will be closed.

You can always check how much you are allowed to lose in a single day from your member area. Under the chart, there is a value “Today permited Loss”

What does OBDD Violation mean?

OBDD stands for Overall Balance Drawdown Detected!

This means that your balance has reached -10% of the initial deposit and your account has been closed for violating this rule. This rule also applies for your equity. So if your equity has reached -10% of the initial balance, your open trades will be closed and your account will be suspended for violation.