How many accounts can I own?
How many accounts can I own?
You can purchase unlimited challenge accounts.
However, the maximum funded allocation is limited to:
$300,000 total, or
2 funded accounts, whichever is reached first.
Please note:
This limit applies only to funded accounts, not evaluations
For certain regions (Malaysia, Pakistan, Indonesia), the maximum funded allocation is $100,000
Can I start paper trading before entering a challenge?
Can I start paper trading before entering a challenge?
No, you cannot have a paper trading account before you enter a challenge. However, you can check the Tournaments tab in TradersYard to see if any upcoming tournaments are available. Participation is free, and once the countdown ends, you'll have an active account in WebTrader.
Image options
See how you can connect an active Challenge Account with WebTrader: https://docs.tradersyard.com/traderchallenge/quick-start-guides/connect-your-challenge-or-tournament-to-the-webtrader
What is leverage trading and margin?
What is leverage trading and margin?
Margin is the capital required to open a position, while leverage allows you to control a larger position with less capital. We as a Prop firms provide leverage to amplify your trading potential, but it’s essential to have risk management strategies to mitigate the inherent risks of margin trading.
Margin= 1/Leverage
Example: XAUUSD.CFD Trade with 1:10 Leverage
Cash Value: $50,000
Leverage: 1:10
Price: $4,100/ CFD
Trade Size: 1 of XAUUSD
To calculate the margin required for 1 CFD of Gold:
Margin= Trade Size x Price / Leverage =1×4,100 / 10 = 410 So you need $ 410 to buy 1 CFD of Gold with leverage of 1:10.
This $ 410 will be taken from your cash value, and you can check this amount taken as margin in account manager under "Used Margin"
As your initial cash value was $ 50000, an you have used $ 410 out of it to buy 1 CFD of Gold, your available margin is $ 49590. This available margin can be used to open other trades.
Available Margin= Cash Value - Used Margin
You can also check that $ 4100 is taken as used buying power in the account manager.
Used Buying Power= Trade Size x Price = 1 x 4100 =4100
To know more on Margin Trading, please check article
What is a mini instrument and what is a margin for it?
What is a mini instrument and what is a margin for it?
We have mini instruments such as BTCUSDMINI.CFD, US100MINI.CFD, US30MINI.CFD, CH20MINI.CFD.
In order to make it possible to trade with less cash value, these MINI instruments are introduced. As per name, you need to spend margin 10 times less in order to open a position
Example: US100MINI.CFD Trade with 1:20 Leverage
Cash Value: $50,000
Leverage: 1:20
Margin: 1/Leverage
Price on chart: $20,820/ CFD
Trade Size: 1 of US100MINI.CFD
Quanity divider: 10 for MINI instruments
To calculate the margin required for 1 CFD of Gold:
Margin= (Trade Size x Price) / (Leverage x Quantity divider) = (1 x 20820) / (20 x 10) = 104.1 So you need $ 104.1 to buy 1 CFD of US100MINI.CFD with leverage of 1:20.
This $ 104.1 will be taken from your cash value, and you can check this amount taken as margin in account manager under "Used Margin"
As your initial cash value was $ 50000, and you have used $ 104.1 out of it to buy 1 CFD of US100MINI.CFD, your available margin is $ 49895.9. This available margin can be used to open other trades.
Available Margin= Cash Value - Used Margin
You can also check that $ 2082 is taken as used buying power in the account manager.
Used Buying Power= Trade Size x Price / Quantity divider = 1 x 20820 / 10 = 2082
To know more on Margin Trading, please check article
How do I enable Bid/Ask lines to view the spread?
How do I enable Bid/Ask lines to view the spread?
To view the spread, enable the Bid/Ask lines as explained here: https://docs.tradersyard.com/webtrader/enable-bid-and-ask-lines-to-see-the-spread
How can I see my challenge-progress?
How can I see my challenge-progress?
You can view your progress in the Challenge Dashboard in TradersYard. The separate elements on your dashboard are explained here: Challenge Dashboard
What does the different challenge-status definitions mean?
What does the different challenge-status definitions mean?
Running:
The account is active and tradable. The trader is currently participating in the challenge and has not breached any rules or completed the objectives yet.
Passed
The trader has successfully completed the challenge by meeting all profit targets and staying within the rules (e.g., drawdown limits). The account is eligible for progression (e.g., verification or funded stage).
Profit Target Reached
Your account has reached the required profit target. To proceed to the next phase or funded stage, all open positions must be closed and all required rules must be met.
Waiting for Reward
Your funded account has met the Reward eligibility conditions and is currently waiting for the Reward request to be processed.
Failed
The trader has breached challenge rules (e.g., max drawdown) or did not meet requirements within the timeframe. The account is closed as failed.
Blocked
The account is temporarily restricted from trading. This can happen due to rule violations, payment issues, or administrative actions. The trader cannot place trades until the issue is resolved.
Will I be compensated if a trade is affected by a system outage, glitch or a bug?
Will I be compensated if a trade is affected by a system outage, glitch or a bug?
Yes, compensation may be provided if a system outage, glitch, or bug affects your trade. However, eligibility for compensation requires that:
A Stop Loss (SL) and Take Profit (TP) were set at the time the order was placed.
A support ticket is submitted within 30 days of the incident.
Trades that do not meet both of these requirements will not be eligible for compensation. All claims are subject to review and verification.