Below you will find all the information related to our Brand new Freedom 75k Account.
We are introducing a new way of Drawdown calculation 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 the 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 Pro Drawdown Calculated?
The Pro Drawdown is updated at the end of the trading day during your evaluation and also Live Account. You can keep track of your Pro Drawdown using your Trading Dashboard at the end of every trading day 15.10 CT or 16.10 EST.
The new Pro Drawdown will only take into consideration the realized profits at the end of the trading day, 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. You new account balance will be $77,000 and your Pro Drawdown $74,500.
3. What will happen if my account Balance drops below Pro Drawdown?
If your Account Balance drops below the Pro Drawdown number your account will be liquidated.
You are now allowed to Drop Below Drawdown at any given moment during your trading day.
4. Why is important to calculate the Drawdown at the end of the day?
The new way of calculating the Drawdown is important because it allows UProfiters to trade freely and taking advantage of opportunities in the markets without worrying 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.
What happens when I reach the profit target in less than 10 days?
You should continue trading a minimum of 10 trading days, regardless of having reached the target in fewer days. 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 rest of the evaluation days to be eligible to be trade a Live Account.