All our Monevis Challenge accounts have Maximum daily drawdown of 5% from the end of day closing balance. This drawdown is set every day at 23:05 CET time.

Example 1: Equity is higher than the balance at the start of the day

At the start of day 5, your account balance is $105.000, and your equity is $107.000. The Daily Loss Limit is 5% of the equity because it is higher:
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Daily loss = $107.000 * 5% = $5.350 Daily Loss Limit.

This means your equity can't go below $107.000 - $5.350. Daily Loss Limit= $101.650 on day 5.

If your equity goes below $101.650 at any moment on day 5, your account will be closed.

​Example 2: Balance is higher than the equity at the start of the day

At the start of day 7, your account balance is $100.000, and your equity is $99.000. The Daily Loss Limit is 5% of the balance because it is higher:
​
Daily loss = $100.000 * 5% = $5.000 Daily Loss Limit.

This means your equity can't go lower than $100.000 - $5.000. Daily Loss Limit= $95.000 on day 7.

If your equity goes below $95.000 at any moment on day 7, your account will be closed.