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Daily Loss is calculated based on the highest recorded equity balance at the start of each trading day.
Daily Loss Update
Daily Loss is updated daily at 00:00 UTC. This means your base balance and Daily Loss limit will be recalculated at this time.
All positions must be closed before 00:00 UTC, as carrying positions overnight is prohibited.
(Each asset has its own closing time. Please check the closing time for each asset on our platform under the "Off Session Time" tab.)
The Maximum Loss Limit is the amount your equity or balance can't go below. This rule is set to % of each model of the initial account size. For example, if you have a $100.000 account and the Maximum Loss Limit is 5%, your equity or balance can't go below $95.000 at any moment.
Example
You have chosen to go for a $10.000 account. The Maximum Loss Limit is 5% of the initial balance, which is $10.000 for this example,
Maximum Loss = $10.000 * 5% = $500.00 Maximum Loss Limit.
This means your equity/balance can't go lower than $10.000 - $500 Maximum Loss Limit= $9.500
If your equity/balance goes below $9500 at any specific moment in time, your account will be closed.
Is a Stop Loss Required?
A stop loss is mandatory in the Instant Funding only. It's not allowed to risk more than 1% of the initial account balance, and you must set a stop loss within 3 minutes for every position you open.