6. Prop Trading Challenges
The following outlines various prop challenge scenarios:
Prop Challenge Progress Bar
During the Prop Challenge, clients can track their progress using a progress bar.
The progress bar is updated every 10 minutes.
Passing The Challenge
Upon passing a prop trading stage, the existing prop trading account is disabled.
The process then 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.
On the next day, the challenge progress bar will be updated to reflect that they have hit the maximum loss. A message will also be displayed informing the client that they have failed the challenge.
Clients can choose to retry the challenge by clicking "Reset Challenge".
Upon resetting the challenge, the client will have the opportunity to participate again by paying the registration fee.
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 a client qualifies for a free repeat, his trading account will be disabled, and a message will be shown stating that their trading period has ended. They'll also be informed that they can retry this step for free.
To give the challenge another shot, clients can simply click "Retry This Step".
The challenge will be reset, and clients will be given a new set of trading account credentials to trade.
Last updated
