How is the maximum daily loss calculated?

The maximum daily loss allowed is the maximum amount to which your equity can fall from the equity recorded the previous day minus 5% (for the second phase) or 4% (for the first phase) of the initial balance.

Every day between 23:05 CE(S)T, the equity of your account is automatically recorded and taken as a reference for evaluation throughout the following day.
We recommend that you verify that the initial daily equity has been updated in the account dashboard to certify that the maximum daily loss computation has been reset for the coming day.

For example, if you purchased an account with an initial balance of $100,000, then the maximum daily loss limit is -$5,000 (5%), which is the maximum amount your equity could drop to overnight.

Let's imagine that the trader trades under the previous example and the equity at 23:05 CE(S)T is 103.000€, then the next day's equity cannot fall below 98.000€ (103.000€ - 5.000€).
Continuing the previous example, if the equity at 23:05 CE(S)T is $99,000, then the next day's equity cannot fall below $94,000 ($99,000 - $5,000).

If at any time your account equity drops below the daily loss allowed, then we will notify you that the phase has not been passed, and you will have to go through the program again to regain access.