Setting Up Prop Challenges

The process for setting up a new prop challenge involves the following steps:

1. Creating A New Challenge

To create a new prop challenge, follow these steps:

Step 1

Navigate to the "Challenge Settings" section and select "New Challenge."

Step 2

1. Fill in the following fields:

   • Challenge Name

   • Challenge Time Zone

   • Challenge Start Time

   • Upload Cover Thumbnail - this will be reflected in the Client Portal as below:

     
   • Upload Campaign Poster - this will be reflected in the Client Portal as below:

     
   • Enter Challenge Details in the respective languages - this will be reflected in the Client Portal as below:

     
   • Select "Show Challenge Details First" if you want clients to view the challenge details first before seeing the available packages.

2. Upon providing the required information, finalize the process by clicking the "Save" button.

   

2. Configuring Challenge Settings

To configure the challenge settings, follow these steps:

Step 1

1. Locate the challenge for which you want to configure settings and click the "Settings" icon.

   
2. You can only configure the settings for challenges that are upcoming.

3. Click "New Package" to create a new package. You can create multiple packages for a single challenge.

   

Step 2

1. Fill in the package name.

2. Select the account currency.

   

Step 3

1. Fill in the package rules.

2. Configure the number of steps.

   • You can add more steps by clicking the "Plus" icon.

     
   • You can remove steps by clicking the "Delete" icon next to the step.

     
   • The minimum number of steps is 2.

3. Configure the settings for each step.

   • Fill in the step names.

   • Select the account type (demo or live) for each step.

   • Choose the initial balance that will be funded in the trading account. The initial balance remains the same across all steps.

   • Select the server group.

     
   • Set the challenge requirements, including leverage, trading period (maximum: 100 days), minimum trading days, minimum trading volume, maximum daily loss, maximum loss, profit target, free repeat, maximum retry count, and fee.

     

4. You have the capability to conceal specific challenge settings from clients by selecting the "Hide" icon.

   
5. Additionally, you can customize the challenge settings name in your preferred languages.

   • To achieve this, just click the "Language" icon.

     
   • Enter the challenge settings name in the respective languages.

   • Click "Save".

Step 4

1. Select the Payment Method for the Registration Fee (if any). The available payment methods are:

   • Purchase Package Directly - You will need to select the payment methods accepted.

   • Deduct from Account Balance

   
2. Decide whether you want to upgrade traders to the next step immediately after they pass the previous step. If you select "Yes", the trader will be upgraded to the next step at the end of the day if the profit target is met, without the need to wait for the trading period to conclude.

3. Indicate whether the fee is refundable.

   

Step 5

Fill in the profit sharing details.

1. Choose between automatic or manual profit sharing methods.

   • Manual Distribution: The system calculates the profit distribution automatically. However, manual review and approval from you are required before the profit sharing amount is distributed to the recipients' wallet.

   • Automatic Distribution: The system autonomously calculates and distributes the profit sharing amount to the intended recipients' wallet. No manual intervention is needed.

     
2. Specify the steps at which you want profit sharing to be distributed. Enable profit sharing for various steps by clicking the "Enable" button.

   
3. Enter the profit sharing percentage for each recipient. Additionally, determine the number of upline levels for profit sharing distribution by clicking the "Add" icon.

   
4. Select the profit sharing settlement period:

   • For settlement every fixed number of days, specify the required number of days.

   • For settlement on the nth day of the month, enter the desired day. If set to the 31st day and the month lacks a 31st, the settlement will automatically occur on the last day of the month.

     
5. Indicate the upline client types eligible to receive profit sharing distribution—either all client types or IBs only.

   

Step 6

1. Set up the participation fee commission rules.

   • When a trader pays for the participation fee, commission rebates will be given to the client's uplines.

   • Click "Add" to add the number of levels. By default, level 1 will be the trader who paid the participation fee. Level 2 refers to the direct referrer of the trader.

   • Choose whether the commission rebate amount is fixed or a percentage.

   • Fill in the commission amount.

2. Click "Save" to finalize your configuration.

   

3. Challenge Allocation Across Client Groups

You have the flexibility to assign different challenges and packages to specific client groups, tailoring offerings to their unique business requirements. Assigned client groups gain visibility of the challenge and packages, while unassigned groups won't have access.

• All client groups will be automatically selected by default for existing challenges and packages.

• Modifying assigned client groups is possible even after the challenge has commenced.

• Existing challengers can still view and participate in the challenge, even if they are not part of the assigned client groups. However, upon completion or full failure of the challenge, participants will no longer have visibility of the challenge.

To assign a challenge/package to client groups:

1. Locate the challenge/package and click the "Client Groups" icon.

   
2. Select the client groups where the challenge and package will be visible.

3. Click "Save."

   

If a challenge or package does not have any assigned client group, an "!" icon will remind you to make an assignment.

4. Calculation Logic for Maximum Daily Loss and Maximum Loss

A) Maximum Daily Loss

1. The CRM compares the latest obtained equity with the equity at the end of the previous day to determine if the trader has reached the maximum daily loss threshold.

2. Challenge fails when: Latest Equity - Previous Day Equity ≤ - Maximum Daily Loss

For Example:

Initial Equity: $10,000

Maximum Daily Loss = 5% x $10,000 = $500

Previous Day Equity	Latest Equity	Equity Change	Challenge Failed
$10,000	$11,000	$11,000 - $10,000 = $1,000	$1,000 ≥ - $500 Challenge has not failed.
$11,000	$8,500	$8,500 - $11,000 = -$2,500	-$2,500 ≤ -$500 Challenge has failed.

B) Maximum Loss

1. The CRM compares the latest obtained equity with the initial equity to determine if the trader has reached the maximum loss threshold.

2. Challenge fails when: Latest Equity - Initial Equity ≤ - Maximum Loss

For Example: Initial Equity: $10,000

Maximum Loss = 10% x $10,000 = $1,000

Initial Equity	Latest Equity	Equity Change	Challenge Status
$10,000	$11,000	$11,000 - $10,000 = $1,000	$1,000 ≥ - $1,000 Challenge has not failed.
$10,000	$8,500	$8,500 - $10,000 = -$1,500	-$1,500 ≤ -$1,000 Challenge has failed.