Please note that all accounts we provide to our clients are demo accounts with fictitious funds and any trading is in a simulated environment only.
As you attempt to achieve the profit targets on your way to the Ultimate Traders funded account, there are specific dos and don’ts along the way. Here, we clarify exactly what these prop trading rules are.
Classic
Speedy
At least one position must be opened on at least 3 separate days to qualify. This applies to the Challenge (first) phase, the Verification (second) phase and the funded Ultimate Trader account.
A 10% profit target must be achieved during the first phase (Challenge). For example, a $100K account must be traded up to a $110K+ account. This profit target halves to just 5% for the Verification phase. The profit target is no longer required if progress is made to the funded Ultimate Trader account.
Every 24-hour period your equity (balance + floating P&L) is ‘recorded’ and your losses during the next 24-hour period should not exceed 6% of this recorded value.
So, for a 100K account, Daily Drawdown is calculated at 6K, meaning your equity is not allowed to drop below 94K within the first 24-hour period. If you have closed positions in 2K profit and have open positions in 4K profit at the time of the reset, your equity is recorded at 106K and should not fall below 100K during the next 24-hour period.
For both the evaluation stage and funded Ultimate Trader accounts, exceeding drawdowns is considered a hard breach and the account has failed if this occurs.
This limit is calculated just once, based on your account size, and stays static.
So, for a 100K account, Max Drawdown is calculated at 12K, meaning your equity is never allowed to fall below 88K.
For both the evaluation stage and funded Ultimate Trader accounts, exceeding drawdowns is considered a hard breach and the account has failed if this occurs.
News trading is a strategy in financial markets where traders make decisions based on the release of economic news or events, such as government reports, corporate earnings, or geopolitical developments. The idea is to capitalize on the market’s reaction to these events, which can lead to significant price movements in a short period. Traders typically aim to enter or exit positions quickly, taking advantage of market volatility right after major news announcements.
This is not allowed with default account, however can be granted with the purchase of News Trading add-on for 10% extra.
In case the add-on is not purchased, but the trader is news trading, we will first send a warning. If the actions continue, the account will be suspended for 24 hours. On third instance, the account will be disqualified which will lead to complete account cancellation.
Classic
Speedy
At least one position must be opened on at least 3 separate days to qualify. This applies to the Challenge (first) phase, the Verification (second) phase and the funded Ultimate Trader account.
A 10% profit target must be achieved. If you register for a $100,000 account, you aim to trade this into a $110,000+ account during the challenge. There is no fixed time period in which you must achieve this.
Every 24-hour period your equity (balance + floating P&L) is ‘recorded’ and your losses during the next 24-hour period should not exceed 4% of this recorded value.
So, for a 100K account, Daily Drawdown is calculated at 4K, meaning your equity is not allowed to drop below 96K within the first 24-hour period. If you have closed positions in 2K profit and have open positions in 4K profit at the time of the reset, your equity is recorded at 106K and should not fall below 102K during the next 24-hour period.
For both the evaluation stage and funded Ultimate Trader accounts, exceeding drawdowns is considered a hard breach and the account has failed if this occurs.
This limit is calculated just once, based on your original account size, and stays static.
So, for a 100K account, Max Drawdown is calculated at 6K, meaning your equity is never allowed to fall below 94K.
For both the evaluation stage and funded Ultimate Trader accounts, exceeding drawdowns is considered a hard breach and the account has failed if this occurs.
News trading is a strategy in financial markets where traders make decisions based on the release of economic news or events, such as government reports, corporate earnings, or geopolitical developments. The idea is to capitalize on the market’s reaction to these events, which can lead to significant price movements in a short period. Traders typically aim to enter or exit positions quickly, taking advantage of market volatility right after major news announcements.
This is not allowed with default account, however can be granted with the purchase of News Trading add-on for 10% extra.
In case the add-on is not purchased, but the trader is news trading, we will first send a warning. If the actions continue, the account will be suspended for 24 hours. On third instance, the account will be disqualified which will lead to complete account cancellation.
This page should now have you covered on all the technicalities of the Ultimate Traders evaluation rules but if you’re still unsure of anything, you can always refer to the prop trading FAQ for more information. Below, we’ve included some of the more common questions our prop firm receives:
Entrusting capital to a person you’ve never met before requires a high degree of confidence. So, before awarding a funded live account, our prop trading rules ensure that positive results during the evaluation were based on sound strategy and not random fortune.
Any prop trading rules relating to drawdowns that are ignored will result in a hard-breach of the account, meaning the challenge has failed. More minor incidences, such as news trading without appropriate add-on or having multiple profiles will result in a soft-breach.
In case of a soft-breach, in the first instance, a warning will be sent. On second instance, the account will be suspended for 24 hours and any open trades will close. Third instance leads to account cancellation.
Yes, there are some differences related to the limits for each challenge, and also some similarities (although the sentiment behind both challenges is the same). For example, the maximum losses on the Speedy Challenge are only half of what is permitted on the Classic Challenge. But, the Speedy Challenge has the potential to be completed in half the time – so there is an exchange. For clarification on the remaining differences, you can refer to the precise rules listed above.
Risk Disclaimer: The information provided on this website does not constitute investment advice, recommendation or solicitation to engage in any investment activity. Trading in financial markets carry a high level of risk.
The information on this site is not directed at residents of any country and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations.
This website is operated by Ultimate Traders Evaluation Ltd a UK based company with registration number 14665391 and address Summit House, 170 Finchley Road, London, NW3 6BP, United Kingdom.
Ultimate Traders does not offer its services to residents of certain jurisdictions such as Belarus, Canada, Iran, Myanmar, Russia, Syria, United States, North Korea, Sudan, US Virgin Islands
Please note that all accounts we provide to our clients are demo accounts with fictitious funds and any trading is in a simulated environment only.