Below you will find all the information related to our Brand new Freedom 75k Account.
We are introducing a new way of Drawdown calculations for our Freedom 75k Account.
(please refer to FAQ #2.)
Account Balance ------$75,000
Profit Target ---------- $4,250
Maximum Contracts ---8 contracts
Daily Loss Limit---------$1,600
Pro Drawdown ----$2,500
Minimum 10 days of operation.
Monthly Subscription ----$245
1. How Much Are Commissions?
Commissions are $.50 per side per contract or $1 round trip for MNQ, MES, M2K, MYM.
Commissions are $2.50 per side per contract or $5 round trip for all other Futures Products.
2. How is the Pro Drawdown Calculated?
The Pro Drawdown is updated at the end of the trading day during your evaluation and also with the Live Account. You can keep track of your Pro Drawdown using your Trading Dashboard at the end of every trading day 3:10 PM CT or 4:10 PM EST.
The new Pro Drawdown will only take into consideration the realized profits at the end of the trading day and is always calculated when your account balance reaches a new high at the end of any trading day. So, if you make $1,500 on your first trading day, your account balance will be $76,500 and your Pro Drawdown will be $74,000. On your next trading day, you make a $1,700 Profit but you continue trading and end up with a losing trade of $1,200, making your PnL for the day $500. Your new account balance will be $77,000 and your Pro Drawdown $74,500.
3. What Happens If My Account Balance Drops Below the Pro Drawdown?
If your Account Balance drops below the Pro Drawdown number, your account will be liquidated.
You are now allowed to drop below the Drawdown at any given moment during your trading day.
4. Why is it Important to Calculate the Drawdown at the End of the Day?
This way of calculating the Drawdown is very important. It allows UProfiters to trade freely while also taking advantage of trading opportunities. All this without needing to worry about a Trailing Drawdown that will count realized AND unrealized profits. The new Pro Drawdown will only take into consideration the realized profits at the end of the trading day.
5. What Happens If I Reach the Profit Target in Less Than 10 Days?
You should continue trading the required minimum of 10 trading days regardless of having reached the target earlier. It is important that the trader continues to trade similar leveraged products to those used to reach their target. If you achieve your Profit Target trading E-Minis you must continue trading the E-Minis, or similar leveraged products, the remainder of the evaluation days in order to be eligible to trade a Live Account.