How do I start the Ability Challenge?

1. Go to the Ability Challenge section on our home page. 2. Choose your desired account size, such as the $240,000 account. 3. Review the program rules. For any questions, visit our Help Center. 4. Click the "Take the $240k Challenge" button under your chosen program's banner, enter your billing details, and complete your payment. 5. After payment, you will receive your account credentials via email within a few minutes, allowing you to access the Trading Platform. Ability Challenge Overview Challenge Time Limit The Ability Challenge consists of a two-phased evaluation process where a trader has unlimited trading days to complete both phases of the challenge. Minimum Trading Days You must trade a minimum of 4 trading days in order to pass the challenge, though there is no time limit on achieving the profit target for either phase Profit Target Challenge Phase has a profit target of 10% Verification Phase has a profit target of 5% Daily Drawdown Challenge Phase has a daily drawdown of 7.5% Verification Phase has a daily drawdown of 5% Maximum Drawdown Challenge Phase has a maximum drawdown of 15% Verification Phase has a maximum drawdown of 10%

Is news trading allowed for the Ability Challenge?

Yes, traders are permitted to trade during news events in both the challenge phases and on the Ability Live account.

What is the consistency rule for the Ability Challenge?

Consistency in Trading: Traders must maintain consistency in trade duration and lot sizes to meet the 4-day minimum trading requirement. Example: If a trader opens a single large trade of 15 lots on the first day and then several small trades of 0.1 lot each on the next three days, they will not meet the consistency requirement. Risk Team Review: The risk team may review a trader's consistency based on their trading style, considering factors like trade size and duration. They may request traders to continue trading for additional days to thoroughly analyze their trading style.

What is the payout process and profit split for the Ability Challenge?

First Payout: You can request your first payout 30 days after placing your first trade on the Ability Live phase account. Subsequent Payouts: After the first payout, you can request payouts on a bi-weekly basis. Profit Share: The profit share for the first payout is 75%. If you withdraw over 10% profit in the first payout, the profit share will increase to 85% for all subsequent payouts.

What is the Scaling Process for the Ability Challenge?

Scaling is designed to gradually increase a trader's demo account balance based on consistent simulated trading performance over time. Eligibility: Traders must demonstrate a monthly profitability of at least 2.5%. Scaling Increase: The account balance is doubled (100% increase) during each scaling event. Review Cycle: The account is reviewed every 3 months. Traders must make at least one withdrawal within this period.

Are there any hidden or recurring fees?

One-Time Joining Fee: The Ability and Funded Trader Programs require a one-time joining fee, which varies based on the starting capital and type of account you choose. Purpose of Fees: These fees are not for profit but to cover essential expenses like data, technology, and administration to support your trading journey. Commitment and Support: The fees help ensure your commitment to trading with us, as we aim to build long-term relationships with our traders. For detailed information on fees and program offerings, visit www.audacitycapital.co.uk/funded-trader-program.

How and when do I receive a refund for the Ability Challenge fee?

Eligibility: Traders are entitled to a refund after successfully passing the two-phase challenge and becoming an Audacity Trader. Processing: The refund will be processed along with your first payout from trading on a live account.

How do I start the Funded Trader Program?

1. Navigate to the Funded Trader Program section of our home page. 2. Select the account size you would like to participate in, for example, the $60,000 account size. 3. Familiarize yourself with the program's rules. If you have any questions, check out our Help Center for more information. 4. Click the "Get Funded" button at the bottom of your desired program's banner, enter your billing details, and complete your payment. 5. Within a few minutes after completing the payment, you will receive your account credentials in your email and will be able to access the Trading Platform. Funded Trader Program Overview Time Limit The program offers unlimited trading days to achieve a 10% profit target. Minimum Trading Days Trade a minimum of 5 days, with at least 3 days being profitable. Profit Target Aim for a 10% profit. Daily Drawdown Maintain a daily drawdown limit of 5%. Maximum Drawdown Program imposes a maximum drawdown of 10%.

Is News Trading Permitted in the Funded Trader Program?

Restrictions During Major Events: Traders in the Funded Trader Program are prohibited from holding open positions during significant news events like the Non-Farm Payroll release, Interest Rate decisions, and Central Bank speeches. Notification from Risk Management: Our risk management team will notify you via email when this rule is applicable. Following the conclusion of the news event, a 30-minute waiting period is required before resuming trading. Stay Informed: To stay updated on important market news and economic events, we recommend utilizing websites like https://www.forexfactory.com/. They offer comprehensive information to help you make informed trading decisions.

What is the profit share for traders who achieve their target on the Funded Trader Program?

Payout Eligibility: You can request your payout once you reach a 10% profit milestone on your account. - For $7.5k, $15k, $30k, and $60k account sizes the profit share is mentioned below: More than 30 Days to reach target = Your profit share is 50% Less than 30 days to reach target = Your profit share is 60% - For $120k and $240k account sizes, the profit share of the trader increases: More than 30 Days to reach target = Your profit share is 60% Less than 30 days to reach target = Your profit share is 70% - For $480k, $960k, and $1.92m account sizes, the profit share of the trader further increases: More than 30 Days to reach target = Your profit share is 70% Less than 30 days to reach target = Your profit share is 80%

How Does the Scaling Process Work for the Funded Trader Program?

Achieving Profit Targets: Whenever a trader hits the 10% profit target, the account size will be doubled.

What is the Consistency Rule for the Funded Trader Program?

Consistency in Trading: Traders must maintain consistency in trade duration and lot sizes to meet the 5-day minimum trading requirement. Example: If a trader opens a single large trade of 15 lots on the first day and then several small trades of 0.1 lot each on the next three days, they will not meet the consistency requirement. Profitable Days Requirement: At least 3 out of the 5 trading days should be profitable throughout the account. Risk Team Review: The risk team may review a trader's consistency based on their trading style, considering factors like trade size and duration. They may request traders to continue trading for additional days to thoroughly analyze their trading style.

What are the available payment methods?

You can purchase the challenge account via Debit card, Credit card, Paypal, Bank Transfer or Crypto Currency.

What is the leverage?

The leverage for the Ability Challenge is 1:100 for both the challenge and the verification phase as well as during the Live phase for all the assets. The leverage for the Funded Trader Program is 1:30 across all assets.

What are the spreads?

You can check out our spreads by logging into this test spreads account. Please note that the account is on read-only mode so you can’t place any trades, however, you are free to checkout the spreads of all the instruments that we offer. Account number: 54555 Password: Yq!8YsYa Server: AudaCityGlobal-Live MT5 Download Link - https://www.audacitycapital.co.uk/download-mt5/

Which broker do you associate with?

Audacity Capital trades exclusively through commercial liquidity provider, avoiding common retail broker brands. Our operations are unique, with distinct trading conditions and requirements. Confidentiality is paramount to us, and we take extensive measures to ensure the anonymity of our suppliers.

What are the criteria involved in determining daily drawdown and maximum drawdown within the Ability Challenge program at Audacity Capital?

The maximum daily drawdown on the account is calculated based on the balance or equity, whichever is greater when the day changes at 12 am UK time. The daily drawdown amount is always fixed at 7.5% of the balance or equity whichever is higher at 12 am UK time for Ability Challenge phase(5% during the Verification and Live phase). This includes commissions and swap fees. If the account equity at any point throughout the day breaches the daily drawdown level then the account is violated. Examples: Scenario 1 The trader has a $120k Account. They have a max daily drawdown of $9k during Challenge Phase, so the Daily Drawdown level is set at $111k for the day. The trader opens the first trade and makes $3k. Their balance is now $123k. They open another position and close it at a loss of $10k. The balance is now $113k. Result - The Account is fine since the Daily drawdown level for the day was set at $111k and the balance is 113k. Scenario 2 The trader has a $60k Account. They have a max daily drawdown of $4.5k during the Challenge Phase, so the Daily Drawdown level is set at $55.5k for the day. The trader opens the first trade and holds it till the end of the day at a profit of 4k and the day resets. At 12 am UK time, the balance is 60k and floating equity becomes 64k so for that day the daily drawdown limit becomes $4.8k(7.5% of 64k), and the daily drawdown level is set at $64k - $4.8k = $59.2k. Now suppose the trade reverses and closes at a loss of $1k and the balance becomes $59k. Result - The Account is violated since the daily drawdown level for the day was set at $59.2k and the balance became $59k. Scenario 3 The trader has a $120k Account. They have a max daily drawdown of $9k during the Challenge Phase, so the Daily Drawdown level is set at $111k for the day. The trader opens the first trade and holds it till the end of the day at a floating loss of 6k and the day resets. At 12 am UK time, the balance is 120k and floating equity becomes 114k so for that day the daily drawdown level will calculated from the balance as it is higher than equity and will be set at $111k. Now the trade closes at a losses of 10k and the balance becomes $110k Result - The Account is violated since the daily drawdown level for the day was set at $111k and the balance became $110k Note - While holding open positions onto the next trading day always be cautious of the daily drawdown calculation as it can vary depending on your balance or equity. Maximum Drawdown: Maximum Total Drawdown | 15% and 10% The maximum total drawdown is 15% during the challenge phase. Therefore, the equity of the account must not fall below 85% of the initial account balance both for open and closed positions, including commissions and swaps. Example: For a $60k Challenge account, your equity shall never go below $51k The maximum total drawdown is 10% during the Verification and Live phase. Therefore, the equity must not fall below 90% of the initial account balance both for open and closed positions, including commissions and swaps. Example: For a $60k Verification account, your equity shall never go below $54k