Everything About The Funded Trader Royal Challenge

In the world of financial trading, aspiring traders often seek opportunities to prove their skills and gain access to capital for trading in the real markets. One such avenue is "The Funded Trader Evaluation Program," and in this article, we'll delve into the details of the Royal Challenge within this program.

The Funded Trader Evaluation Programs

Before we dive into the specifics of the Royal Challenge, let's first understand what The Funded Trader Evaluation Programs are all about. These programs are designed to identify and support talented traders who can potentially manage a funded trading account. It's a two-step evaluation process that helps traders showcase their trading abilities.

Royal Challenge Details

The Royal Challenge is the latest addition to this exciting program. Similar to the Standard and Rapid Challenge, it offers a two-step evaluation process. However, the Royal Challenge distinguishes itself with some unique features:

1. No Limits and EAs Allowed
   • In the Royal Challenge, there are no restrictions on the use of Expert Advisors (EAs), and traders can trade without worrying about lot size limits.
2. Best Drawdown to Target Ratio
   • The maximum drawdown allowed in this challenge is 10%, while the virtual profit target for phase 1 is 8%. This combination makes the Royal Challenge one of the most cost-effective challenges available in the market.
3. Simulated News Trading Allowed
   • Unlike some other challenges, the Royal Challenge allows traders to engage in news trading without any restrictions.

How much leverage do you offer?

The availability of leverage can significantly impact a trader's strategy. Here's what you need to know about leverage in the Royal Challenge:

• Phase: Challenge
  • Forex: 1:200
  • Gold & Commodities: 1:40
  • Indices: 1:20
  • Crypto: 1:2
• Phase: Simulated Funded
  • Forex: 1:100
  • Gold & Commodities: 1:40
  • Indices: 1:20
  • Crypto: 1:1

Time Frame for Completing the TFT Evaluation Process for the Royal Challenge

The Royal Challenge underwent a significant upgrade as of July 17th, 2023. Now, traders have unlimited simulated trading days to complete the challenge.

For accounts purchased before July 17th, 2023, here's the evaluation timeline:

• Phase 1: 35 calendar days from the date of the first trade (ends at 5pm EST on the last day of this phase).
• Phase 2: 60 calendar days after passing Phase 1 (ends at 5pm EST on the last day of this phase).

The key takeaways from this challenge are:

• No lot size limits.
• EAs are enabled.
• Lower simulated profit target of 8%.
• Holding positions over the weekend is allowed.
• Simulated daily drawdown is calculated with simulated equity and balance.
• Unlimited simulated trading days for accounts purchased on or after July 17, 2023.

Objectives

The Royal Challenge sets specific objectives for traders in different phases:

Royal Simulated Challenge Phase 1

• 8% simulated Profit Target
• Simulated Max. 5% Daily Drawdown (Daily floating loss + closed loss)
• Simulated 10% Max. Initial Deposit Drawdown
• Minimum Simulated Trading Days: 5
• Maximum Simulated Trading Days: Unlimited

Royal Simulated Challenge Phase 2

• 5% Simulated Profit Target
• Simulated Max. 5% Daily Drawdown (Daily floating loss + closed loss)
• Simulated 10% Max. Initial Deposit Drawdown
• Minimum Simulated Trading Days: 5
• Maximum Simulated Trading Days: Unlimited

Royal Simulated Challenge Funded

• NO Simulated Profit Target
• Simulated Max. 5% Daily Drawdown (Daily floating loss + closed loss)
• Simulated 10% Max. Initial Deposit Drawdown

Once you've signed and submitted the contract, your account will be enabled for trading within 24 hours (excluding weekends).

When can I withdraw my payouts for the Royal Challenge?

Traders in the Royal Challenge are eligible to receive 80% of their simulated profits after 30 days for the first withdrawal. Subsequent payouts can be requested at the end of every 14-day period, counted from the first trade after the last withdrawal.

Starting October 6, 2023, if you opt for the 14-day add-on when purchasing the Royal Challenge, you can request your first eligible payout in as little as 14 days.

Promotions

If you've purchased an account with a special profit promotion, that percentage will be the account's base simulated profit split. For example, if you bought an account with a 90% promotion, your simulated profit split will remain at 90% for all subsequent withdrawals.

Royal Challenge Scaling Plan and Enhanced Simulated Profit Split

The scaling plan for the Royal Challenge allows funded traders to grow their demo account size based on consistent performance. This means adding 25% of their initial demo account balance to the balance of their simulated funded account over time.

Review Process

Simulated funded accounts from the Royal Challenge are reviewed every 3 months. To be eligible for a demo account size increase equal to 25% of their original demo account balance, a trader must meet specific criteria, including profitability.

Simulated Daily Drawdown and Simulated Maximum Drawdown Scaling

The daily and maximum overall drawdown amount is adjusted in accordance with the new initial funding demo balance. Scaling takes place by 25%, and the respective simulated daily and simulated maximum drawdowns also scale by 25%.

Maximum Simulated Funded Account Balance Potential

Traders can potentially grow their demo account virtual balances up to $1.5M simulated funds through the scaling plan.

Increased Simulated Profit Split

Once traders qualify for the scaling plan, they become eligible for 90% payouts, which means they are paid based on data measured by simulated profit.

Simulated Daily Drawdown

The maximum simulated daily drawdown is 5%, and it's calculated based on the demo balance or simulated equity, whichever is higher when the day changes at 5pm EST.

Reset Time

The simulated max daily drawdown resets every day at 5:00 PM EST. To avoid issues, traders are advised not to execute trades between 4:57 PM - 5:03 PM EST when the drawdown is being reset.

Maximum Simulated Total Drawdown

The maximum simulated total drawdown is 10%, and it applies to both open and closed positions, including simulated commissions and simulated swaps.

Violations

Any violation of the rules mentioned above will result in the termination of your trading account and disqualification from the program.

Transitioning from Phase 1 to Phase 2 in the Standard, Rapid, and Royal Challenge

If you're looking to transition from Phase 1 to Phase 2 in the Standard, Rapid, or Royal Challenge, here's what you need to know:

Before moving to Phase 2, ensure you've successfully completed Phase 1. The transition timeline varies for different challenges:

• Standard and Royal Challenge participants: 12 hours after successfully completing Phase 1.
• Rapid Challenge participants: 6 hours after successfully completing Phase 1.

It's crucial to meet the virtual profit target and other predefined parameters outlined in the program's rules. Make sure all open simulated trades are closed before the transition.

In conclusion, the Royal Challenge offers traders a unique opportunity to showcase their skills and potentially access capital for trading. With its flexible rules, simulated trading days, and attractive profit potential, it's a program worth considering for those looking to advance their trading careers.