To ensure a successful trading journey in the 2-Step Challenge, it's essential to adhere to the following guidelines and restrictions:
Maximum Daily Drawdown: Traders are allowed a maximum daily drawdown of 5% of their initial account balance.
For traders participating in 2-Step Challenges, a daily drawdown of up to 5% is permitted in phase 1 and 4% is permitted in phase 2.
To calculate your daily drawdown limit, use the following formula:
Daily Loss Limit = Initial Balance of the day × Daily Loss Limit Percentage of Your Enrolled Challenge Account
When calculating the daily drawdown, please note that swap charges, commissions, and fees are included in the total amount.
If you exceed the daily drawdown limit, your account will be “Paused” and marked with a "Daily Loss Limit" and you will no longer be able to trade.
Maximum Total Drawdown: Traders are allowed a maximum drawdown of 10% of their initial account balance in phase 1 and 8% in phase 2.
Minimum Trading Days: Traders are required to execute a minimum of 1 individual trades on 3 separate days throughout the 2-Step Challenge. Consecutive trading days are not mandatory.
Copy Trading: Traders can engage in copy trading from their own Prop Number One Accounts, prop firms, or retail brokers. However, copying trades from accounts not owned by the same individual, including those of relatives or friends, is strictly prohibited.
IP Address: To ensure a secure trading environment, it's recommended to use a single device with a unique IP address during trading activities.
VPN/VPS Service: Clients can use VPN and VPS services for platform access. Paid VPNs and VPS services with dedicated IP addresses are recommended to ensure consistency and security.
EAs/Indicators: Traders are permitted to use Expert Advisors (EAs) and indicators to enhance their trading strategies, ensuring parameters are tailored to their individual trading styles and accounts.
Restricted Trading Strategies: Any form of cheating or exploitation of the platform is strictly prohibited and goes against Prop Number One's Terms of Service (TOS). Traders should thoroughly review and understand the Terms of Service to avoid unintended consequences.