Challenge Time Limit
The Ability Challenge consists of a two-phased evaluation process where a trader has unlimited trading days to complete both phases of the challenge.

Minimum Trading Days
You must trade a minimum of 4 trading days in order to pass the challenge in phase 1 & 2, but there is no minimum trading days for the funded stage. Though there is no time limit on achieving the profit target for either phase

Profit Target
Challenge Phase has a profit target of 10% 
Verification Phase has a profit target of 5%

Daily Drawdown
Challenge Phase has a daily drawdown of 7.5% 
Verification Phase has a daily drawdown of 5%

Maximum Drawdown
Challenge Phase has a maximum drawdown of 15% 
Verification Phase has a maximum drawdown of 10%

For reference to MetaTrader server times:
March - October*
MT5 : 22:00 GMT+1(12am GMT+3)

November - February*
MT5 : 22:00 GMT+0(12am GMT+2)
*please note times are subject to change due to daylight saving time in the UK

Eligibility: Traders are entitled to a refund after successfully passing the two-phase challenge and becoming an Audacity Trader.

Processing: The refund will be processed along with your first payout from trading on a live account.

Note: Refund fees are processed alongside the first payout, provided the payout amount exceeds the fees.

Additionally, the account must remain compliant with all rules to be eligible for both the refund and payout.

If the required profit hasn’t been reached:

• You can still proceed with a standard withdrawal of your initial 75% profit share

Or, you may choose to continue trading to increase your profits and become eligible for both the payout and the refundable fee

Daily Drawdown

Daily Drawdown | Phase 1 -  7.5% and Phase 2 - 5%
Daily Drawdown

• The maximum daily drawdown threshold resets every day at 12AM GMT+2 time based on balance or equity whichever is higher during the rollover, making it static for the day.
• Reset timing will be as follows as per the daylight savings time:
    March - October*
      MT5 : 22:00 GMT+1(12am GMT+3)
    November - February*
      MT5 : 22:00 GMT+0(12am GMT+2)
  *please note times are subject to change due to daylight saving time in the UK

Examples:
Scenario 1
The trader has a $120k Account. They have a max daily drawdown of $9k during Challenge Phase, so the Daily Drawdown level is set at $111k for the day. The trader opens the first trade and closes it with a profit of $3k. Their balance is now $123k and the new daily drawdown threshold will remain $111k. They open another position and close it at a loss of $10k. The balance is now $113k.
Result - The Account is still active since the threshold has not been reached.

Scenario 2
The trader has a $60k Account. They have a max daily drawdown of $4.5k during the Challenge Phase, so the Daily Drawdown level is set at $55.5k for the day. The trader opens the first trade and holds it till the end of the day at a profit of 4k and the day resets. At 12AM GMT+2 server time, the balance is 60k and floating equity becomes 64k so for that day the daily drawdown limit becomes $4.8k(7.5% of 64k), and the daily drawdown level is set at $64k - $4.8k = $59.2k. Now suppose the trade reverses and closes at a loss of $1k and the balance becomes $59k.
Result - The Account is violated since the daily drawdown level for the day was set at $59.2k and the balance became $59k.

Scenario 3
The trader has a $120k Account. They have a max daily drawdown of $9k during the Challenge Phase, so the Daily Drawdown level is set at $111k for the day. The trader opens the first trade and makes a loss of 6k and the day resets. 

At 12AM GMT+2 server time, the balance is 114,000 so for the next day the daily drawdown level is calculated from the balance and will be set at $105450 (7.5%* 114,000). Let's assume you have opened another trade the next day, and made a profit of $3k. The new account balance is 117,000 and the daily DD threshold is still the same at $105,450. You later open another trade and make a loss of $12,000. New balance or equity will be at $105,000.

Result - The Account is violated since the daily drawdown level for the day was exceeded by $450


Maximum Drawdown

Maximum Total Drawdown | Phase 1 - 15% and Phase 2 - 10%

• The maximum total drawdown is 15% during the challenge phase. Therefore, the equity of the account must not fall below 85% of the initial account balance both for open and closed positions, including commissions and swaps. Example: For a $60k Challenge account, your equity shall never go below $51k
• The maximum total drawdown is 10% during the Verification and Live phase. Therefore, the equity must not fall below 90% of the initial account balance both for open and closed positions, including commissions and swaps. Example: For a $60k Verification account, your equity shall never go below $54k.

First Payout: You can request your first payout 14 days after placing your first trade on the Ability Live phase account.

Subsequent Payouts: After the first payout, you can request payouts on a bi-weekly basis.

Profit Share: The profit share for the payout will depend on your profit percentage. If the profit is below 10% then you will get 75% profit share, else if you withdraw over 10% profit within 30 days, the profit share will increase to 85%..

Profit Share After Account Doubling: Once you’ve doubled your account twice and consistently achieved over 10% profit, you'll qualify for up to 90% profit sharing.

Note: You cannot request a payout once the account has been breached even if the account is in profit.

• Phase 1: 10% of initial account balance.
• Phase 2 (Verification): 5% of initial account balance.