To ensure a successful trading journey in the Propywise Challenge, it is imperative to follow these general guidelines and restrictions set by Propywise. Please note that the specific numbers and timeframes given below as an example refer to the 2-Step Challenge. If you are participating in the One Step or another challenge, please refer to the terms of your plan.
Maximum Daily Drawdown: Propywise sets a maximum daily drawdown, meaning that total losses should not exceed a certain percentage of the initial balance or equity in one trading day.
Example (2-Step Challenge): maximum 5% of the initial balance.
Maximum Overall Drawdown: The total drawdown cannot exceed a set limit as a percentage of the initial balance; this ensures that your balance/equity will never fall below a certain level.
Example (2-Step Challenge): maximum 10% of the initial balance.
Minimum Trading Days: Each Propywise Challenge has a minimum number of trading days to ensure that the outcome is not a fluke but reflects systematic trading activity.
Example (2-Step Challenge): Minimum 3 trading days for each step.
There is no minimum trading days requirement in the Funded Account.
Copy Trading: Propywise permits traders to engage in copy trading from another Propywise account, prop firm, or retail broker, as long as the accounts are owned by the same individual. This allows traders to replicate trades across any accounts they personally manage.
However, it is strictly prohibited to conduct copy trading between multiple accounts not owned by the same individual, including those of relatives, family members, or friends.
IP Address: Propywise is committed to maintaining a secure trading environment. To prevent complications associated with IP addresses, it is strongly recommended that traders use a single device with a unique IP address for their trading activities on our platform.
VPN/VPS Service: Propywise users are allowed to employ VPN and VPS services for accessing the platform. VPN users are advised to use paid VPN services and choose a specific IP within a country for consistent tracking. VPS users should opt for paid services with dedicated IP addresses and refrain from sharing connections.
EAs/Indicators: Traders at Propywise are permitted to use Expert Advisors (EAs) and Indicators to enhance their trading strategies. It is crucial for each trader to ensure that their trading parameters are uniquely tailored to their own trading style and account needs.
Restricted Trading Strategies: Propywise strictly prohibits any form of cheating or exploitation of the platform, which violates our Terms of Service (TOS) agreed upon during registration. Traders are encouraged to read our Terms of Service thoroughly to avoid any unintended breaches.