What is the Evaluation phase?
The Evaluation phase is a challenge to assess your trading skills. Traders must meet a profit target within set rules to progress to a funded account.
Is there a minimum number of trading days?
Yes, there are 5 trading days, you can complete the challenge at your own pace in the given time as long as you meet the profit target within the time limit.
What is the profit target?
The profit target varies by account type but typically ranges between 8-10%.
Can I reset my evaluation if I fail?
Yes, we offer an account reset option where you can restart the evaluation for a fee.
What happens if I breach the rules during evaluation?
A breach in any rule (e.g., exceeding maximum drawdown) will result in immediate disqualification from the evaluation phase.
What is the daily drawdown limit?
The daily drawdown limit is 5%, and it is static. This means the maximum loss allowed in a single day is 5% of the account value. The calculation is based on whichever is higher whether your balance or equity.
Balance is the amount in your account after all closed trades.
Equity: The current value of your account, including open trades (floating profit/loss).
For example: If your account balance is $10,000 and your equity is $12,000 due to open profits, the drawdown is calculated based on $12,000.
If your account balance is $10,000 and your equity drops to $9,000 due to open losses, the drawdown is calculated based on $10,000.
This ensures fair calculations based on your highest account value.
When can I withdraw my first payout?
You can withdraw your first payout after 21 trading days or 30 calendar days for all payouts by default.
Do you have a maximum withdrawal rule?
At FundedBits, the first two payouts are subject to a limit. They are capped at $10,000 of your initial account balance which means, you can only withdraw a maximum of $10,000 on your first two withdrawals.
For example, if you start with a $100,000 account, your first two payouts can be a maximum of $10,000 each.
Why Are These Limits in Place?
These restrictions help ensure stability by allowing us to evaluate your trading performance over time. Since the period between purchasing the program and receiving the first payouts might not be enough to fully assess your trading practices, this cap provides a safeguard for both you and FundedBits.
What Happens After the First Two Payouts?
Once you've received your first two payouts, the limit is lifted. There are no further restrictions on how much profit you can withdraw, allowing you full access to your earnings. You can withdraw as much as you want without any cap.
Why This Approach Works for You
These payout restrictions provide a controlled, secure environment to prove your trading skills. Once you've demonstrated consistent performance, you're given the freedom to withdraw your profits without restrictions.
All Giveaway payout request are subject to this Rule:
- All giveaway account are eligible to withdraw only 2% of their account size each payout.
So this means that $100,000 account is eligible to make 2% which is 2,000 USD Profit in each payout.
After the payout the account will reset to default.
We understand this may be hard but rest assured our aim is to embark on stability.
How Do Giveaway Account Rules & Payouts Work?
Giveaway accounts follow the same trading conditions as purchased accounts but have a key difference in payouts.
All giveaway accounts can withdraw only 2% of their account size per payout. After withdrawal, the account resets to its starting balance for continued trading.
Example:
If John wins a $100,000 giveaway account and he proceeds to make $5,000 in profit. This rule keeps his maximum withdrawal to 2% per payout which is $2,000. After withdrawing, his balance resets to $100,000 for continued trading.
This structure ensures fair access to funded trading opportunities while maintaining long-term stability.
In Conclusion
First two payouts: Withdraw up to $10,000 of your initial account balance.
After the first two payouts: No restrictions, withdraw freely.
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