How does it work?
The 10K DRAWDOWN account is only available by participating in the 10K DRAWDOWN challenge. When you pay your €19 registration fee for the challenge, you receive a 10K DRAWDOWN account and are included in the pool of traders participating in the challenge for 1 month.
Position size
The following rules only apply to the 10K DRAWDOWN account challenge!
Traders in the 10K DRAWDOWN account can open up to 25 E-mini contracts intraday, all instruments included.
Over-night and Over-Week positions are authorized within the limit of 25 E-mini contracts.
Registrations
You can register several times, simultaneously or not, in order to obtain more 10K DRAWDOWN accounts and increase your chances of success.
No restriction on the number of entries per participant.
When the challenge is in progress, you can join and participate up to 7 days before the end date of the challenge. After this time, entries will no longer be possible and you will have to wait for the opening of the next 10K DRAWDOWN challenge.
Starting the challenge
You can find the start dates for each challenge on the page 10K DRAWDOWN.
Target
When you sign up for the 10K FULL MARGIN challenge, you are added to the pool of traders taking part in the challenge. Your objective is to finish 1st in the pool at the end of the month by making the biggest profit in the pool and you win the 10K FULL MARGIN account.
Ranking
A ranking will be visible in your Dashboard area. The ranking will be updated every day at the end of the day.
Ranking rule
The ranking will be subject to the following rule:
Each trader will be represented by the trading account that has achieved the highest ranking. If you have registered with more than one account, these will not be counted in the final rankings. However, you will benefit from a 20% promotional code for each of these accounts as soon as you register.
Earnings
All participants win a prize at the end of the challenge. Each winner of the 10K DRAWDOWN LIVE account will not be able to participate in the challenge thereafter as long as they have an active 10K DRAWDOWN LIVE account, in order to give everyone the chance to win a 10K DRAWDOWN LIVE account.
Here is a list of the prizes and how they were won:
1st: 10K Drawdown LIVE account
2nd: CASH 100K Swing account
3rd: CASH 50K Swing account
4th: CASH 100K Fundamental account
5th: CASH 50K Fundamental account
6th: 100K Swing Challenge Account
7th: 50K Swing Challenge Account
8th: 100K Fundamental Challenge account
9th: 50K Fundamental Challenge account
10th: 50K Fundamental Challenge account
Top 10% (excluding top 5): 70% discount code on all Challenge accounts (except 10K DRAWDOWN and MASTER)
Top 50% (excluding top 5 and top 10%): 50% discount code on all Challenge accounts (except 10K DRAWDOWN and MASTER).
Top 100% (excluding top 5, top 10% and top 50%): 30% discount code on all Challenge accounts (except 10K DRAWDOWN and MASTER).
10K DRAWDOWN LIVE account rules (real account awarded to the challenge winner)
- 8 lot E-mini et/ou 8 E-micro lot
- The 10K DRAWDOWN account is worth US$10,000.
- Drawdown MAX $10,000 (EOD). The Drawdown EOD stops when the trader's account reaches $20,000.
- 2 500 $ of profits to be made to validate the withdrawal threshold. Below this threshold, no withdrawals can be made by the trader.
- Traders must leave a minimum of $2,000 in their account when requesting withdrawals.
- No payment amount limit from D+1 of the account financed. Provided you have reached the withdrawal threshold
- No minimum trading day for payment requests
- Activation Life-time, 250 € Free
- Monthly business flow fee of $122 deducted directly from the DRAWDOWN 10K Account
- Over-Night and Over-Week authorized up to a maximum of 1 E-mini or 1 E-micro lot (this limit may be increased depending on the trader's results).
- Profit split scalable up to 90% !!!
At the beginning, the profit split is 50% for the trader and 50% for Phidias Propfirm For each $5,000 of PNL withdrawn gross by the trader, the profit split evolves as follows:
Up to $2,500 PNL withdrawn: 50% for the trader, 50% for Phidias Propfirm
Between $2,501 and $5,000 PNL withdrawn: 60% for the trader, 40% for Phidias Propfirm.
Between $5,001 and $7,500 PNL withdrawn: 70% for the trader, 30% for Phidias Propfirm
Between $7,501 and $10,000 PNL withdrawn: 80% for the trader, 20% for Phidias Propfirm.
Over $10,000 of PNL withdrawn: 90% for the trader, 10% for Phidias Propfirm.
Calculation of instalments for a withdrawal of $30,000 :
- Up to $2,500 PNL withdrawn: ($2,500 * 50%) = $1,250
- Between $2,501 and $5,000 PNL withdrawn: ($2,500 * 60%) = $1,500
- Between $5,001 and $7,500 PNL withdrawn: ($2,500 * 70%) = $1,750
- Between $7,501 and $10,000 of NLP withdrawn: ($2,500 * 80%) = $2,000
- Over $10,000: ($20,000 * 90%) = $18,000
Total for a withdrawal of $30,000: $1,250 + $1,500 + $1,750 + $2,000 + $18,000 = $24,500. Thus, if the trader withdraws $30,000, he will receive $24,500.
Profit splits are calculated on the trader's cumulative withdrawals, so when the trader has withdrawn more than $10,000 in total from his Master account, the trader will always receive 90% of the amounts subsequently withdrawn.
- The position size limit evolves according to the gains made on the account. Here's how position sizes evolve according to winnings on the 10K DRAWDOWN account:
For every $10,000 of winnings realized on the account and left available on the capital, 1 additional E-mini lot or 1 additional E-micro lot is authorized for position-taking up to a maximum of 4 additional E-mini lots or 4 additional E-micro lots.
Example the trader earns $25k after a period of work on the 10K DRAWDOWN account, bringing his total capital to $35k, the trader can now commit 2 additional E-mini lots or 2 E-micro lots (Intraday and Over-night / Over-Week) i.e. 3 E-mini lots or 3 E-micros lots in total in the market.)
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