What are the Challenge and Signal Provider Rules

Condition / Rule

Challenge - Phase 1

Challenge - Phase 2

Signal Provider

Profit target

8%

        5%

n/a

Daily Loss Limit

5%

Daily Profit Limit

(Consistency rule)

5% Profit Cap

Upon reaching this point, all open positions will be closed and trading will cease until the following day

2% Profit Cap

Upon reaching this point, all open positions will be closed and trading will cease until the following day

n/a

Max drawdown

10% (trailing)

Max Leverage

Up to 100:1 (FX and Gold)

Up to 50:1 (CFD, Indices and Commodities)

Retry discount

20%

20%

20%

Max capital allocation

n/a

n/a

500k USD

Minimum trade size

0.1 lot or 1 CFD Index

Inactivity time

20 days

20 days

20 days 

News Trading

2 min before and 2 min after news events trading is not permitted. Trades open or closed during this window will be considered a soft breach during the Challenge phases.

Profit or Loss realized from closing the trades during the news window will not be reverted on the account

2 min before and 2 min after news events trading is not permitted. Trades open or closed during this window will be closed with PL realized on the account and this will be flagged as soft breach.

3 soft breaches will result in hard breach and account will be terminated

Copy Trading

Copying from the account to other non-Oanda companies and 3rd parties is allowed. 

However, copying into the Oanda account from external companies or 3rd party services is not allowed. (hard breach: results in account closure)

StopLoss required

Not required

Flatten on Friday?

Not required

Hold Positions overnight

Allowed

Refund challenge fee

n/a

n/a

100% on first payout