The following outlines various prop challenge scenarios:
Prop Challenge Progress
During the Prop Challenge, your clients can track their progress by clicking onto the respective challenge.
There will be three main tabs displayed:
Overview
Profit Sharing
Trade History
Overview
Under the Overview tab, your clients can gain a comprehensive view of their prop challenge statistics, including profit targets, maximum losses, and more.
Max loss and max daily loss are updated every 10 minutes.
The rest of the data are updated once a day.
Additionally, they can access their account information, encompassing:
Start Date: Marks the challenge's initiation, signaling when your client received their trading account credentials.
End Date: Indicates the challenge's conclusion. If ongoing, "N/A" will be displayed.
Initial Balance: Represents the starting balance of the trading account.
Current Stage: Identifies the current stage of the challenge.
Status: Depicts the challenge status, such as failed, in progress, completed, and so forth.
Your clients can also view a graph illustrating the fluctuations in your balance and equity over time.
Furthermore, your clients have the option to select the trading accounts they wish to view details for. If they have progressed to the second stage, they can still access their stage 1 details by selecting the corresponding trading accounts.
Profit Sharing - your clients can view the amount they receive from profit sharing and their respective payout status.
Trade History - Your clients can access a record of the trades they have executed for the challenge, along with their respective details.
For challenges that are currently "Pending Approval", no data will be displayed until the challenge request is approved.
Passing The Challenge
Upon passing a prop trading stage, the existing prop trading account is disabled.
The challenge status will be updated to "Completed" and the end date will be reflected as well.
The process depends on your approval settings.
Automatic: Trading account credentials are automatically created and sent to the client.
Manual:
You will need to approve the request from the Back Office.
Once approved, your client will receive the new trading account credentials to start trading.
Failing The Challenge
If clients fail the challenge, their trading accounts will be disabled, preventing further trading activity. The status will reflect as "Failed".
Refund of Participation Fee
Enabling participation fee refunds means clients receive a refund of their registration fee if they make a profit in the live stage challenge.
To qualify for a refund, the trader's profit percentage must be above 0.
You can find refund details on the CRM Backoffice Portal under Reports > CRM Transactions.
Clients can also check the CRM Client Portal under Funds > Transactions.
Retry Challenge
If you have enabled the "free retry" option for the self-trading challenge, as long as the customer meets all the relevant conditions and their profit amount is positive, your customers can try the challenge again for free.
Your clients won't get the "Free Repeat" option if they hit the daily loss limits or overall loss limits.
When your client qualifies for a free repeat, their trading account will be disabled and the status will display a "RETRY" button.
To give the challenge another shot, clients can simply click "RETRY".
Upon resetting the challenge, you will be issued another trading account, and the status of the challenge will change to "In Progress".
