V7.39.0 – Customizable Retry Fees for Prop Challenges

Stay ahead with our latest Prop Trading System updates—discover all the new features here!

Released Date - 26 March 2025

We’re pleased to introduce "Customizable Retry Fees", a strategic new feature designed to enhance how traders engage with your prop challenges while opening new channels for revenue growth.

Retries were previously available at no cost by default. With this update, you can now choose to charge a fee for each retry attempt, adding a new layer of monetization to your challenge structure. Whether you prefer to keep retries free to maximize participation or assign fees to encourage more committed trading, this feature gives you the flexibility to align the retry experience directly with your business goals.

Key Function Highlights

1. Customizable by Stage: Set different retry fees for each stage of your prop challenge, enabling you to price retries according to difficulty—such as applying higher fees for more advanced stages—while maintaining full control over trader progression.

2. Upfront Fee Display: Retry fees are disclosed to traders upfront, before they register for any prop challenge, ensuring they understand all potential costs before committing to participate or retry.

3. Flexible Approval Workflows: Configure retry approvals as manual or automatic. For automatic approvals, you can specify eligible payment methods, such as those with instant deduction from e-wallets, while other PSP methods can be routed for manual review to maintain operational flexibility and risk control.

4. Retry Fee Analytics: Easily filter your reports to view the total amount collected from paid retry fees, offering deeper insight into revenue composition and trader engagement across your challenges.

1) Configure Retry Fees

To configure Retry Fees, follow these steps:

1

Create or Edit Prop Challenge

1. Navigate to Prop Trading > Challenge Settings.

2. Click "New Challenge" or the "Edit" icon to edit your challenge.

   

2

Configure Retry Fees

1. Navigate to "Challenge Rule".

   
2. If "Allow Retry" is enabled for the stage, you’ll be able to configure the retry fee settings.

3. By default the "Retry Fee" is set to "Free".

4. To charge clients for retrying a stage, select "Chargeable" and enter the desired fee amount.

   
5. The payment methods configured for the registration fee will also apply to retry fees. Only these methods will be available when clients make a retry payment.

   

3

Save and Publish Your Challenge

1. Click "Next".

   
2. Complete the configuration for the remaining steps.

3. Click "Publish" to publish your challenge.

   
4. Review your changes and click "Publish Now".

   

2) Updated Retry Challenge Logic

In this release, the retry challenge logic has been updated.

Previously, to qualify for a retry, the trader's closed P&L had to be positive at the time of assessment, and the trader needed to meet the challenge criteria, including minimum trading days and trading volume. Additionally, the maximum daily loss or maximum loss must not have been exceeded.

Now, traders must first fail the challenge in order to be eligible for a retry. As long as there is a retry attempt remaining, the trader can retry the stage.

3) Approval Process for Challenge Retry

You can configure the approval process for paid challenge retries by following these steps:

1

Navigate to "Approval Settings"

1. Go to "Settings".

2. Select "Approval Settings".

   

2

Configure Approval Settings

1. Click the "Edit" icon.

   
2. Find the setting for "Prop Paid Retry".

3. Choose one of the following options:

   1. Manual Approval - The retry request will require your review and approval before it can proceed.

   2. Automatic Approval - The system will automatically approve the retry request after payment, with no action needed from you. You can further specify:

      1. Auto-Approve for Online Payments Only - Automatically approve only if the trader pays via online payment methods (e.g., PSP). Other payment methods will still require your review.

      2. Auto-Approve for Account Balance Deduction Only - Automatically approve only if the retry fee is deducted from the trader’s account balance. Other payment methods will still require your review.

      
4. Click the "Save" icon to save your changes.

   

The approval process for paid retry fees is closely linked to your Live Stage request approval settings.

• If a trader is retrying a Live Stage, then after you approve the paid retry request, you will also need to review and approve the Live Stage request—but only if Live Stage approval is set to Manual.

• If the Live Stage approval is set to Automatic, no further action is required after the retry fee is approved.

Special Scenarios:

• Scenario 1

  • If a trader pays for a retry during the Live Stage and the retry payment is approved, but the newly generated Live Stage request is rejected, the system still allows the trader to retry again, as long as retry attempts remain.

  • However, the previously paid retry attempt will still be counted as used—it will not be refunded.

• Scenario 2:

  • If a trader successfully completes the Demo Stage and submits a request to enter the Live Stage, but the broker rejects this Live Stage request, the trader cannot retry the Demo Stage, even if retry attempts are still available.

  • The system treats the rejection of the Live Stage request as a failure of the challenge, and therefore no retry is permitted.

4) Permission Settings

After configuring the Approval Settings, make sure to assign the appropriate permissions to your team members:

• Read Prop Paid Retry Requests – Allows users to view all prop paid retry requests (view-only access).

• Approve/Reject Retry Requests – Grants permission to approve or reject prop paid retry requests.

• Download Prop Paid Retry Requests – Grants permission to download data related to prop paid retry requests.

5) View Retry Challenge Rules

Your traders can view the retry rules you've configured for each prop challenge by following these steps:

1

Navigate to Prop Trading

1. Navigate to Prop Trading.

2. Click "New". This will display all available challenges for participation.

   

2

View Prop Challenge Parameters

Traders will be able to see the challenge details, including retry settings:

1. Retry Current Stage

   1. Yes – The trader is allowed to retry the current stage.

   2. No – Retry is not allowed for the current stage.

2. Maximum Retry Count – The total number of retry attempts allowed.

3. Retry Cost

   1. Free – No cost to retry.

   2. Amount – A fee is required to retry the stage.

   

3

View Retry Settings Description

1. Traders can also click on the Retry Settings to view detailed descriptions of each parameter.

2. A tooltip will appear, providing clear explanations of what each setting means and how it affects their retry attempts.

   

6) Trader Retry Challenge

To retry challenge, trader can follow these steps:

1

Check Challenge Status

1. Go to the "Prop Trading" page.

2. If the trader has failed a challenge and a free retry attempt is available, the status will show "Stage X Retry," where X represents the specific stage the trader can retry.

   
3. If the retry attempt requires payment, the status will display "Stage X Pending Payment."

   

2

Free Retry

1. For free retry, the trader will need to click the "Retry" button.

   
2. When the mouse hovers over the "Retry" button, a message will appear saying: "You can retry the challenge from this stage without starting over from the beginning."

3. This means that if a trader fails at Stage 2, they can retry directly from Stage 2 without having to restart from Stage 1.

   
4. The stage will automatically restart, and the trader will receive new trading account credentials via email to begin trading.

5. The Trading Status will be set to "Enabled", and the Status will display "In Progress".

6. The Retry Attempt count will be reduced by 1, and the trader will be able to see how many retry attempts remain.

   

3

Chargeable Retry

If a retry fee applies:

1. The trader will need to click "Pay to Retry".

   
2. The trader will be redirected to the payment page.

3. Coupons and promo codes can also be applied to offset the retry fee.

4. Select the preferred payment method and click "Complete Payment" to finalize the payment.

   

4

Chargeable Retry Approval Process

1. If the approval process is set to manual, the trader will be redirected to the Request History page after completing the payment.

2. The status will appear as "Pending".

   
3. You will need to approve the request on the Approvals page before the trader can retry the challenge:

   1. Navigate to "Approvals".

   2. Select "Prop Paid Retry".

   3. Click "Review" to review the retry request.

      
   4. Approve or reject the request.
   5. If the trader is retrying a Demo Stage, once the request is approved, a new trading account will be created, and the credentials will be sent via email. The trader can then begin trading immediately.

   6. For a Live Stage retry, if the approval process for live stage is set to manual, you will also need to review and approve the Live Stage request before the trader receives their account credentials.

      
   7. If the Live Stage approval is set to automatic, you only need to review and approve the paid retry request. Once approved, the trader will receive their new trading account credentials. You do not need to review the Live Stage request manually—however, a system-generated record will be created to indicate that the Live Stage request was automatically approved.

      
4. If the approval process is set to automatic, the trader will be redirected to the Request History page, where the status will show as "Approved". They will then receive their new trading account credentials via email and can start trading immediately. However, if the trader is retrying a live stage, the process will also depend on the Live Stage Approval setting you have configured.

7) Retry Fee Analytics

You can easily filter your reports to view the total amount collected from paid retry fees, offering deeper insight into revenue composition and trader engagement across your challenges.

To do so, follow these steps:

1

Navigate to CRM Transactions Report

1. Navigate to Reports > CRM Reports.

2. Select "Transactions".

   

2

Filter the Report

1. Click the "Filter" icon.

   
2. Under "Type", click "Show More".
3. Select "Prop Trading Retry Fee".

4. Click "Search".

3

Report Analysis

1. The report displays all prop challenge re-attempts made by your clients, along with the corresponding retry fees paid.

   
2. You can click on “Total” to view the total amount of retry fees collected.