Privileged

Maximum drawdown is the maximum your account can drawdown before you would hard breach your account.
When you open the account, your Max Drawdown is set at 9% of your starting balance. This will be static for the duration of the account.

Daily loss limit for the Privileged Challenges is calculated as below:

Permitted Daily Allowed Loss = (day starting balance) * (allowed daily drawdown percent) / 100

For example:

You start a 100k challenge and open one trade and you are still holding that trade when the day rolls over with a floating profit of $1,500. Your drawdown will be based on your day starting balance ($100,000) even though your equity is higher ($101,500). Ex:  4% of 100,000 is 4,000. Your account cannot go below 100,000 – 4,000 = 96,000.

You start a 100k challenge and open one trade and close that trade before the day ends with a loss of $1,500. Your drawdown will be based on your updated balance 98,500. Ex:  4% of 98,500 is 3,940. Your account cannot go below 98,500 – 3,940 = $94,560$.

We do not require a stop loss on trades.

$5,000,000

Yes, you can trade news.

Yes. On every account, we require you to place at least one trade every 40 days. If this is not done we will consider your account inactive and a breach of your account will occur.