When you request a withdrawal, the Max Drawdown locks at your starting balance, regardless of profits made.
This means the buffer created by your profits is reduced by the amount withdrawn.
Withdrawing all available profit would put your account at risk of breaching the drawdown thresholds.
Example:
Initial balance $10,000
Profit: $50 ( the minimum that can be withdrawn)
Total balance $ 10,050
Payout for $50 – the full profit as per this example – processed.
As the withdrawal was placed and processed, this means the following:
- The balance after the withdrawal is $10,000
- The MAX drawdown is now locked at the initial balance, MAX drawdown locked at $10,000
- From the above 2 points, we know that the Balance after the withdrawal is the same as the MAX drawdown = $10,000
- Therefore, if a trade is placed, the equity will go below the MAX drawdown breaching the account.
It is advised to leave some buffer in your account to avoid the above scenario from happening. This is not to say it’s bullet proof as this depends on each person’s decision; you may leave a buffer and still – based on the trading activity, market conditions etc – to still breach the account.
The final decision whether buffer will be left or how much is to be left, is on each person.
Instant Funding is a new type of FXIFY program that throws you into the deep-end of Funded Trading. The FXIFY Instant Funded program allows traders to skip the initial evaluation phases of a typical challenge, however with Instant Funded you can start trading on a funded account instantly! For more information, please see the rest of our FAQs regarding Instant Funding or contact support@fxify.com.
Please note: Once the Account is bought, it should show on your Profile’s Dashboard ( under ” Trading accounts” section) in about 20-30 minuets.
Once created, make sure to sign the contract for this account from the ” Contracts ” section.
Important note: Verification will be required before the payout gets processed. Make sure to have valid Proof of ID and Proof of Address.
The Instant funded program has an 8% Max Trailing Drawdown.
The MAX trailing Drawdown will stop trailing, it will LOCK at the initial balance if any of the below happens:
- A withdrawal is requested
- The profit made is 8% on the initial balance.
The above 2 reasons will cause the Drawdown to LOCK at the initial balance for the remaining of the account’s validity, as per the Instant Funding account’s rules and offerings.
The daily drawdown on all Instant Funded programs is 8%, based on the balance at the end of the previous day. Based on the balance recorded at 5PM EST time.
The Instant Funding account is a funded account, right from the start:
- There isn’t any profit target. You can make as much profit as you can.
- There isn’t any minimum or maximum days. Considering the account will not breach any of the rules, you can keep on using it. The first payout can be requested 14 days after the first trade is placed though (any subsequent payout requests will also be on a bi-weekly basis, every 14 days).
IMPORTANT: Even if there may not be a minimum or maximum trading days, since there isn’t any profit target, there still is the Inactivity breach! If the account is not used for 60 calendar days in a row, the account is considered inactive and it is a hard breach. If you want to keep on using the account, make sure 1 trade is placed every now and then, before 60 continuous days.
