V7.14.0 - Prop Trading 1 Step-Challenge, Tailored Profit Sharing and more!

Learn about all the details of all our recent Prop Trading System updates here.

Released Date - 6 June 2024

Exciting times lie ahead as we offer you more options and flexibility for your Prop Trading Challenges, allowing you to stay ahead of your competitors! Now, you can create one-step challenges where clients pay a registration fee and instantly receive a funded live account.

In addition to automated profit sharing, you'll now have the option to manually configure profit sharing settlements, giving you full control over when profits are distributed to your traders.

With our expanded range of system-generated notifications in the CRM, both you and your clients will effortlessly stay informed via email or pop-up alerts on challenge outcomes and profit-sharing settlements. Keep reading to explore all the details and discover other exciting functionalities!

Summary

1. One-Step Prop Challenges: Provide clients with a fresh prop challenge experience through single-step prop challenges. Upon paying the registration fee, clients can gain immediate access to a funded live account.

2. Manual Profit Sharing Settlement: Have full control over profit sharing arrangements and settlements with manual configuration, ensuring precision over when traders receive payouts.

3. Enhanced System-Generated Notifications: Stay informed with supplementary notifications, providing prompt updates to both you and your clients regarding unsuccessful prop challenges or the status of profit sharing settlements.

4. Unlimited Trading Period: Offer traders the freedom to navigate prop challenges without time constraints through an unlimited trading period, providing ample opportunity for them to excel and enhancing the appeal of your prop challenges to attract more participants.

1) One-Step Prop Challenges

You can now provide clients with a fresh prop challenge experience through single-step prop challenges. Upon paying the registration fee, clients can gain immediate access to a funded live account.

To do so, follow these steps:

Step 1

1. Navigate to Prop Trading > Challenge Settings.

2. Click "New Challenge".

   

Step 2

1. Fill in the Basic Information.

2. Click "Next".

   

Step 3

1. By default, there will be 3 steps shown. You can delete steps 2 and steps 3 by clicking the "Delete" icon.

   
2. Fill in the challenge parameters and click "Next".

   
3. Fill in the "Profit Sharing" and "Participation Fee Commission" tabs and click "Publish".

   
4. Review the details and click "Publish Now".

   
5. Click "Confirm" to proceed to publish the challenge.

   

2) Manual Profit Sharing Settlement

You now have full control over profit sharing arrangements and settlements with manual configuration, ensuring precision over when traders receive payouts.

• Selecting manual profit sharing settlement means that profit sharing settlement will only be triggered manually by you.

• Exceptions are when a trader successfully completes or fails a challenge; in these cases, the system will automatically initiate a profit sharing settlement.

To setup manual profit sharing settlement, follow these steps:

Step 1

1. Navigate to Prop Trading > Challenge Settings.

2. Click "New Challenge" or the "Edit" icon.

   

Step 2

1. Navigate to the "Profit Sharing" tab.

2. Select "Manual" for profit sharing settlement.

   
3. Save and publish your challenge accordingly.

Step 3

For manual profit sharing settlement, your clients will only see the profit sharing percentage; they won't have information about the profit sharing settlement period.

To manually trigger profit sharing settlement, follow these steps:

Step 1

1. Navigate to Prop Trading > Participants.

2. Locate the client you wish to trigger profit sharing settlement for and click the "Profit Sharing" icon.

   

Step 2

1. A popup notice will appear. Click "Confirm" to proceed.

   
2. If the profit sharing payout method is set to automatic, the profit sharing amount will be distributed automatically to the trader's CRM wallet. You can track the status of profit sharing payouts in the Profit Sharing Report.

   
3. If the profit sharing payout method is set to manual, you will be required to manually distribute the profit sharing amount.

   

3) Enhanced System-Generated Notifications

You can now stay informed with supplementary notifications, providing prompt updates to both you and your clients regarding unsuccessful prop challenges or the status of profit sharing settlements.

The following email and pop-up notifications are added:

1. Challenge Failure - this will be sent to you and your client automatically when your client has failed a prop challenge.

2. Profit Sharing Successful - this will be sent to you and your client automatically when profit sharing has been successfully paid out to your client's CRM wallet.

You can view and amend the notification template via Notification Settings > Notification Templates.

4) Unlimited Trading Period

You can now offer traders the freedom to navigate prop challenges without time constraints through an unlimited trading period, providing ample opportunity for them to excel and enhancing the appeal of your prop challenges to attract more participants.

To do so, simply select "Unlimited" as the Trading Period when configuring your prop challenges.