Trading Rules for the NEOM Funded Prime Challenge (2-Phase Evaluation)
The NEOM Funded Prime Challenge is a structured two-phase trading evaluation designed to test participants before they are given access to simulated evaluation accounts. Below are the full details of the rules and requirements for the challenge across both evaluation phases, as well as the simulated evaluation account phase.
Overview of the Challenge Phases
Phase 1
Evaluation Goal: 8% of the initial account balance.
Daily Drawdown Limit: 5% (static, calculated based on the start-of-day balance).
Maximum Drawdown Limit: 8% (static, calculated based on the initial account balance).
Minimum Trading Days: 4 days.
Phase 2
Evaluation Goal: 5% of the initial account balance.
Daily Drawdown Limit: 5% (static, calculated based on the start-of-day balance).
Maximum Drawdown Limit: 8% (static, calculated based on the initial account balance).
Minimum Trading Days: 4 days.
simulated evaluation account (Post-Evaluation)
Evaluation Goal: Unlimited (no predefined limit).
Daily Drawdown Limit: 5% (static, calculated based on the start-of-day balance).
Maximum Drawdown Limit: 8% (static, calculated based on the initial account balance).
Minimum Trading Days: 5 days.
Performance Reward Cycle: Every 14 days.
General Trading Regulations
Participants participating in the challenge must also adhere to the following general rules:
Leverage: 1:30 leverage is provided.
Recognition Tier: Participants receive 80% of the simulated result during the simulated evaluation account phase.
Weekend Trading: Allowed.
Expert Advisors (EAs): Allowed.
News Trading: Allowed.
Definition of a Profitable Trading Day
A trading day will qualify as a “profitable” trading day if the following conditions are met:
Minimum Profit Threshold: The account achieves at least 0.30% profit relative to the day’s starting balance.
Trade Duration: Each trade must remain open for more than 2 minutes.
Aggregated Result: If multiple trades are placed in a single day, their combined result must meet the 0.30% profit threshold.
Time Measurement: Trading days are measured in UTC, starting at 22:00 and concluding at 21:59:59 the following day.
Related Performance Reward and Risk Details
Drawdown Management: Both daily (5%) and maximum (8%) drawdown limits are assessed. Violating these limits will result in disqualification from the challenge.
Performance Rewards: During the simulated evaluation account phase, performance rewards are processed every 14 days directly to the participant.
By following these rules and meeting the set targets, participants can progress through the NEOM Funded Prime Challenge phases to reach a simulated evaluation account and advance through the Recognition Tier.