General Challenge-Rules
Last updated
Last updated
For each individual instrument, the margin used must not exceed allowed part of your available margin.
For any given instrument, the maximum trade size you can open depends on:
Available Margin (AM): Your current cash value minus margin used by any open positions you have at the moment. When no positions are open, available margin is same as cash value
Margin Limitation % (ML): The percentage of available margin you are allowed to use for a single instrument. You can find ML in % for each level in scaling table under column called 'Margin Limitations'.
Leverage (L): The leverage provided for the instrument. Ex. for XAUUSD.CFD, Leverage is 1:10.
The formula to calculate the Maximum Trade Size is:
Maximum Trade Size= [AM×ML×L] / [Instrument Price x 100]
Example Scenario: Starting Level (100% Margin Limitation)
Currently No open position in your account and you want to open position on XAUUSD.CFD.
Available Margin (AM1*): $20,000
Margin Limitation % (ML): 100%
Leverage for XAUUSD.CFD (L1*): 1:10, so L1 is 10
*1 in front of AM and L indicates that this is first position you are going to open.
Maximum Allowed Trade Size for XAUUSD.CFD = [AM1 × ML × L1] / [Instrument Price x 100] = [20000 x 100 x 10] / [2700 x 100] = 74.07 So you can open maximum of 74 qty for XAUUSD. Now lets assume, you have opened a position on XAUUSD.CFD with 30 Qty only, despite you were allowed to open 74 qty. So you have used $8100 for opening position on XAUUSD.CFD with 30 qty. So available margin now is, $20000 - 8100 = $11900
Now, you want to open another position on BTCUSDMINI.CFD.
Available Margin (AM2*): $11900
Margin Limitation % (ML): 100%
Leverage for BTCUSDMINI.CFD (L2*): 1:10, so L2 is 10
*2 in front of AM and L indicates that this is first position you are going to open.
Maximum Allowed Trade Size for BTCUSDMINI.CFD = [AM2 × ML × L2] / [Instrument Price x 100] = [11900 x 100 x 10] / [10297 x 100] = 11.56
So you can open maximum of 11 qty for BTCUSDMINI.CFD
So in this way, we calculate available position size for your account. If you dont like to calcualte it by yourself, you can also use the indicator we made in AgenaTrader software called: "Available Position Size".
In above sceanrio, you can apply your own instrument and margin limitation % as per your level in Trading challenge.
This formula ensures that as your available margin decreases or increases (due to open trades), or as your allowed margin percentage reduces at higher levels in your challenge, your maximum position size is automatically updated.
The Daily Drawdown represents the maximum amount that you are allowed to lose in a single day. Your Daily Drawdown limit is refreshed daily on your Dashboard at 00:00 UTC.
If your equity (cash-value + open P&L) hits your daily loss limit, your challenge will be marked as failed and your open positions / orders will be flattened automatically. You can continue trading if you buy an account reset or a new challenge.
The Maximum Drawdown rule specifies the highest amount you are allowed to lose in your current challenge level.
If your equity (cash-value + open P&L) hits your Maximum Drawdown limit, your challenge will be marked as failed and your open positions and orders will be flattened automatically. You can continue trading if you buy an account reset or a new challenge.
In case you trade on multiple challenge-accounts, you only can have one active challenge-account in which you are trading in level 4 or higher. If you would get to level 4 or higher with a second account, you need to choose which of your accounts you want to enable for payouts. Each user can have max. one active account that is eligible for payouts.
