SFX Funded’s Ignite Challenge offers aspiring traders an exciting opportunity to prove their skills and manage a funded account with sizes ranging from $5,000 to $100,000. Designed to identify profitable traders who can efficiently manage risk, the challenge consists of a two-phase evaluation process, each with clear profit targets and risk management rules.
A Step-by-Step Guide to SFX Funded’s Ignite Challenge
Let’s see what it has:
- Phase One: Setting the Stage for Success
In the first phase of the Ignite Challenge, traders have to achieve a profit target of 7%. This target must be reached while adhering to strict risk management guidelines: a maximum daily loss of 3% and a maximum trailing loss of 8%. Traders have 30 calendar days to meet the profit target and must trade at least five active days to progress to the next phase. The challenge also offers leverage of up to 1:30, giving traders the flexibility to enhance their positions.
- Phase Two: Reaching the Final Goal
So, phase two of the Ignite Challenge is a continuation of the evaluation, with a slightly lower profit target of 6%. Similar to phase one, the trader must stay within the 3% daily loss limit and the 8% trailing loss limit. You have 30 calendar days to hit the profit target, and once again, you must trade a minimum of five active days.
- Achieving Funded Status
After successfully completing both evaluation phases, traders will have a funded account. The funded account comes with a minimum withdrawal requirement of 5%, and traders are only required to maintain the same 3% daily loss and 8% trailing loss rules. This system allows traders to keep the flexibility and control over their trading while also benefiting from the opportunity to withdraw profits.
SFX Funded’s Ignite Challenge provides a structured yet flexible route for skilled traders to demonstrate their abilities and unlock the potential of a funded account. With the right strategy and risk management, traders can achieve long-term success and grow their trading careers.
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