The rules, in plain words.
Everything that passes, funds or ends an account, with worked examples. The numbers on this page come from the same table the server uses.
One set of rules, 5 sizes
Every assessment uses the same rules. Only the account size changes, from $10,000 to $200,000, and the fee with it. There is one assessment step, not two: pass it and the account is funded.
| Rule | Every account |
|---|---|
| Profit target | 10% |
| Daily loss limit | 3% |
| Max drawdown | 10% |
| Time limit | None |
| Profit split | 80% to you |
| Fee | $89–$1,080 |
An account keeps the rules it started with, even if a plan changes later.
Profit target
10%of the starting balance
The profit target is the gain that passes the assessment. It counts closed trades only: your balance must reach the starting balance plus the target, with no position open.
When you pass, the same account becomes a funded account and its balance goes back to the starting size. Profit above the target at that moment is not paid, so there is no reason to overshoot.
- Starting balance
- $10,000
- Profit target (10%)
- +$1,000
- You pass at a balance of
- $11,000
Close your positions with a balance of $11,000 or more and the account is funded.
Daily loss limit
3%of the day's opening equity
The daily loss limit is the most your account can lose in one day. It is measured from your equity at 00:00 UTC, when each trading day starts. Equity is your balance plus the profit or loss of your open positions.
If your equity falls below that day's opening equity minus the limit, the account ends. Each day starts fresh from the new opening equity. A withdrawal lowers that day's opening equity by the same amount, so taking profit never counts as a loss.
Equity is judged on the price you would close at — the bid for a buy, the ask for a sell — as often as fresh prices arrive, at most twice a second per source, so a new trade starts at minus the spread, and a spread that widens, at the 17:00 New York rollover for example, moves equity with it. A close, a stop-out or a payout fills at that same bid or ask, the price you'd actually trade at.
- Equity at 00:00 UTC
- $10,250
- Daily loss limit (3%)
- −$307.5
- The account ends below
- $9,942.5
On a day that opens at $10,250, you can lose up to $307.5, open trades included, before the account ends.
Max drawdown
10%of the starting balance
The max drawdown is a fixed floor under your starting balance. If your equity ever drops below it, the account ends.
The floor is static: it never moves up with your profit, not after the pass and not after a withdrawal. It is checked before the daily limit, so a drop through both counts as a drawdown breach.
- Starting balance
- $10,000
- Max drawdown (10%)
- −$1,000
- Floor, for the account's whole life
- $9,000
Even if the account grows, its equity must stay above $9,000.
Consistency
30%the most one day may be worth
No single trading day may be worth more than 30% of the profit you have made. It is measured on closed trades, per UTC day, inside the phase you are in: the assessment counts on its own, and a funded account starts again at zero when it passes.
The rule exists to tell trading from gambling. One enormous day and nothing else is a bet that came off, and it says nothing about the next hundred days; the same profit spread over a week is a method. Nothing is lost when you break it — you keep trading until the rest catches up.
- Profit target (10%)
- $1,000
- The most one day may be worth (30%)
- $300
- A day worth more than that
- keep trading
Pass with $1,000 of profit and your best day must be $300 or less. If one day made $1,000 on its own, the account stays in the assessment until the profit reaches three times that day.
In the assessment the pass waits: you reach the target, the account keeps running, and the dashboard says what profit would bring your best day inside the limit. On a funded account the withdrawal goes through as usual and the payout waits for a person to look at it.
Leverage
15×/50×crypto / forex; lower on some Perpl markets and other instruments
Leverage lets you open a position bigger than the margin it locks. A crypto order goes up to the market's own maximum on Perpl, which runs from 15× on BTC down to 3× on LIT. On MonFunded liquidity the cap depends on the kind of instrument: 50× on forex, 30× on metals and indices, 10× on energies and base metals. An order above its cap is refused.
No position is closed on its own loss. If the account's margin level (equity ÷ margin in use) falls to 50%, the position losing the most is closed, then the next, until it is back above; a warning shows at 100%. In practice the daily loss and max drawdown end an account long before it gets there.
- Margin you lock
- $500
- Leverage
- 15×
- Largest position
- $7,500
Markets and prices
8 + 95crypto perps + MonFunded liquidity instruments
The challenge trades two liquidity sources, never mixed up, and the app shows each market's source. On Perpl: 8 crypto perpetuals, BTC, ETH, SOL, MON, HYPE, ZEC, LIT, and PUMP, priced from Perpl's order book on Monad and filled at Perpl's bid and ask. From MonFunded liquidity: 95 instruments of forex, metals, energies and stock indices, below.
A perpetual, or perp, follows a coin's price with no expiry date. You can go long, which profits if the price rises, or short, which profits if it falls.
Forex and CFDs: MonFunded liquidity
50×forex; on 95 instruments
Next to Perpl's perps, the challenge trades 95 instruments from MonFunded liquidity: 7 forex majors, 21 minors and 40 exotics, 12 metals, 3 energies and 12 stock indices. MonFunded liquidity is the firm's own: prices from an institutional feed, and MonFunded takes the other side of every trade. The broker's own crypto instruments are left out, because Perpl is the challenge's crypto venue. They exist only in the simulated challenge; the Perps screen trades on Perpl alone.
An order is sized in lots: each instrument has its contract size, smallest lot and lot step, and the app shows the units and the dollars a size comes to. It fills at the feed's bid or ask, the real spread with no markup, at the first fresh quote after a short delay on the server (0.05 to 0.15 seconds), never at the price you saw. Leverage goes up to 50× on forex, 30× on metals and indices, and 10× on energies and base metals. One order can be $5,000,000 at most on forex ($2,000,000 on metals and indices, $1,000,000 on energies and base metals), and so can all your open positions in one instrument together. The 60-second minimum hold applies here too.
Profit and loss are always in dollars. An instrument priced in another currency, such as EUR/GBP in pounds or the Germany 30 index in euros, makes its result in that currency, converted to dollars through a forex pair at the current rate.
Each instrument trades in its own hours: forex from Sunday 17:00 to Friday 17:00 New York time (21:00 or 22:00 UTC), metals, energies and indices in their markets' sessions, and none on market holidays; the app says when a closed one reopens (for example "Closed · opens Sunday 21:00 UTC"). A closed instrument takes no orders and no closes. In its hours it trades only on a live price: a quote at most 3 seconds old and, after any gap, a steady run of fresh quotes. If the price feed stops, MonFunded liquidity is paused: nothing is filled or closed, not even by a stop-out, until prices are live again, and the app says so. While one of your positions has no live price, your whole account waits with it: no orders on any market, no closes and no withdrawals, and the account is judged on live prices once they are back (after 10 minutes, at the last good ones). A close that meets no fresh quote within 10 seconds lapses: the position stays open. Your positions stay open through a close or a pause and count at their last price. When the market is live again, its price counts at once: if it opens away from where it closed, that price can move a position toward a stop-out or end the account. There are no swaps or rollover fees.
Every order has a floor: $10 minimum, on any instrument. An account can hold 20 working orders at once. When an instrument's order book is thin or missing, it fills at most $5,000 of notional every 60 seconds at the top of the book, entries and exits together; an order that needs more depth than sits at the best price fills up to 1% past it.
- Perpl: 8 crypto perps, priced from Perpl's order book on Monad and filled at its bid and ask with no markup, up to Perpl's own maximum (15× on BTC), around the clock. They trade in the challenge and on the Perps screen.
- MonFunded liquidity: 95 instruments of forex, metals, energies and stock indices, priced by an institutional feed and filled at its bid and ask with no markup, sized in lots, up to 50× on forex, in each instrument's hours while prices are live. They trade in the simulated challenge only.
Orders fill at the next quote
An order is accepted at once but fills at the first price published after it reaches the server, never at the price you saw on screen. Closing a position works the same way.
This makes seeing a price a moment early worthless, which keeps the challenge fair for everyone. An order that gets no fresh price in time is cancelled, and its margin comes back.
Minimum hold
60 sper position
Every position must stay open for at least 60 seconds after it fills before you can close it. The app shows a countdown.
Cancelling an order that hasn't filled is always allowed. A stop-out and the end of an account are never held back.
No time limit, several assessments at once
An assessment has no deadline and no minimum number of trading days. Take a week or a year.
You can run up to 5 assessments at once on one wallet. Funded accounts don't count against that limit — but one wallet can hold at most $400,000 of funded account size at a time, whatever the tier or however many accounts it's spread across.
Funded accounts and withdrawals
80%of every withdrawal, to you
After the pass the account is funded: the same daily loss limit and max drawdown, no target and no time limit. You can request a payout once the account is flat — no open positions and no working orders.
Of every withdrawal you receive 80% and MonFunded keeps 20%. You choose USDC or AUSD, and the contract pays it onchain from its public reserve to the wallet that paid for the assessment. If our payout is ever late, you can claim it from the contract yourself with the signature the app gives you.
A payout takes all the profit at once — there's no amount to choose, once it reaches $10. The account pauses until that payout is released or declined; released, it trades on from its starting balance.
Every payout, including your first, passes an automated review of the rules before it is released. Most are then paid automatically, within minutes, and tracked onchain; some are released by a person on our team after that review.
- Equity
- $10,600
- Profit you can withdraw
- $600
- You receive (80%)
- $480
- MonFunded keeps (20%)
- $120
Fair play
The server watches every account's own trading and checks it without anyone asking. Two things it refuses outright, at the moment you try them:
| Refused at the order | What it means |
|---|---|
| Hedging | Holding both sides of one instrument at once. It parks risk instead of taking it and makes the daily loss limit meaningless. The other side is refused while a position is open; close the first one instead. |
| Opposite sides, one market, your own accounts | Long on one of your accounts and short on another in the same market at once. Refused the same way hedging is — close one side first. |
| Closing inside 60 s | Every position stays open at least 60 seconds, so a fill is a trade rather than a reaction to the next tick. |
These are reviewed rather than refused. Each is computed by the server as it happens, and when one is present a payout is held for an admin to approve or decline with a reason, instead of paying:
| Reviewed at a payout | What it means |
|---|---|
| Martingale | 3 losing trades in a row, each at least 1.8× the size of the one before it. Doubling down after a loss is how an account dies; a run of it is a system, not a bad day. |
| Copy trading | The same trade on two or more accounts within 10 seconds, 3 times in one UTC day, whoever holds them. Both accounts are flagged, in either direction. |
| Mirror trading | The opposite trade to another account's, within 10 seconds, 3 times in one UTC day. Both accounts are flagged, in either direction — copy trading's mirror image. A single mirror where both positions are worth at least 300 of their account's balance is remembered for 48 hours and flags the pair the moment either account ends or passes, even without three repeats. |
| Oversized positions | A single position that locked more than half the account's balance. One trade that size is a bet on one number. |
| Shared accounts | An IP address used by another address within 24 hours holds every payout on both accounts for review, the same as the other rows here. Ending an account for it is still a person's decision, never an automatic one. |
| Wallet screening | The wallet a payout would go to is flagged by our screening, or our screening could not check it. The payout is held for review instead of paying. |
Shared accounts — one person behind several wallets, or several people behind one — can also end an account for conduct, with the fee kept. To spot them, the server keeps the IP address of each sign-in, entry and order. The privacy policy says how.
Nothing on this page ends an account by itself except a shared account, and that is a person's decision on a flag, never an automatic one. The rest either refuse an order as you place it, or hold money until someone has looked.
When an account ends
Breaking the daily loss limit or the max drawdown ends the account, in either phase. Open positions are closed at the market price and pending orders are cancelled.
There are no resets: a new assessment is a new account with a new fee. Fees are non-refundable once the account is active; the refund policy has the details.
The Live tier
$500 to $2,000real AUSD on Perpl
The Live tier is built and not switched on yet. When it opens, it invites our best funded traders to trade real money.
MonFunded funds a Perpl account with $500 to $2,000 in AUSD and makes you its operator: you can open and close positions, but you can't withdraw from it.
Our risk engine watches the account live and applies the same daily loss limit and max drawdown. The Live tier is by invitation only, and the terms of each account come with the invitation.
Every rule at a glance
Every rule the server enforces, generated straight from the list it reads to run the challenge and check a payout — nothing here can say something the engine doesn't do.
| Rule | What it says | What happens |
|---|---|---|
| Profit target | You pass the assessment once your balance, on closed trades only, reaches the starting balance plus the plan’s target. | A limit on every trade |
| Daily loss limit | If equity falls below the day’s opening equity minus the plan’s daily loss limit, the account ends. | Ends the account |
| Max drawdown | If equity ever drops below the fixed floor under the starting balance, the account ends. | Ends the account |
| Consistency | No single UTC day may be worth more than 30% of the profit made in the phase. | Holds the payout for a person |
| Leverage | An order above its category’s leverage cap is refused. | Refused at the order |
| Lot size | Each instrument has its own smallest lot, lot step and largest lot; an order outside them is refused. | Refused at the order |
| Minimum order size | An order below $10 is refused. | Refused at the order |
| Order size cap | One order, and all of one instrument’s open positions together, are capped per category; an order above the cap is refused. | Refused at the order |
| Stop-out and margin call | No position is closed on its own loss. If the account’s margin level (equity ÷ margin in use) falls to 50%, the position losing the most is closed, then the next, until it is back above; a warning shows at 100%. In practice the daily loss and max drawdown end an account long before. | Closes positions |
| Minimum hold | A position stays open at least 60 seconds before you can close it. | Refused at the order |
| Hedging | Holding both sides of one instrument on your own account at once is refused. | Refused at the order |
| Cross-account hedging | Long on one of your accounts and short on another, in the same market at the same time, is refused. | Refused at the order |
| Stop-loss and take-profit distance | A stop-loss, take-profit or trailing stop must sit at least the spread away from the price it is measured from (one price step at the least): a stop on the losing side, a target on the winning side. | Refused at the order |
| Working order price | A working order’s price must sit at least the spread away from the market (one price step at the least): a buy limit below the ask and a buy stop above it, a sell limit above the bid and a sell stop below it. | Refused at the order |
| Working orders | An account can hold 20 working orders at once. Cancel one before placing another. | Refused at the order |
| No-book fill cap | Without a live order book, an instrument fills at most $5,000 of notional a minute at the top of the book, entries and exits together. | A limit on every trade |
| Fill slippage band | An order that needs more depth than sits at the best price fills up to 1% past it. | A limit on every trade |
| Assessments per wallet | One wallet can run up to 5 assessments at once. | Refused at the order |
| Funded size per wallet | One wallet can hold at most $400,000 of active funded account size at a time, whatever the tier or however many accounts it’s spread across. | Refused at the order |
| Live prices required | An account trades only on live prices: nothing is filled, closed or judged while a price feed is paused or a market is closed. | Refused at the order |
| Flat to withdraw | A payout can be requested once the account is flat: no open positions and no working orders. | Refused at the order |
| Minimum withdrawal | A payout must be at least $10. | Refused at the order |
| Profit split | Of every withdrawal you receive 80% and MonFunded keeps the rest. | A limit on every trade |
| One payout at a time | The account pauses — no new orders — until a requested payout is released or declined. | Refused at the order |
| Balance matches the cycle | The account’s balance must equal its starting size plus this cycle’s closed profit and loss. | Holds the payout for a person |
| Martingale | 3 losing trades in a row, each at least 1.8× the size of the one before, holds a payout for review. | Holds the payout for a person |
| Oversized positions | A single position that locked more than 50% of the account’s balance holds a payout for review. | Holds the payout for a person |
| Copy trading | The same trade on two or more accounts within 10 seconds, 3 times in one UTC day, holds a payout for review, whoever holds them. | Holds the payout for a person |
| Mirror trading | The opposite trade to another account’s within 10 seconds, 3 times in one UTC day, holds a payout for review — copy trading’s mirror image. A single mirror where both positions are worth at least 300% of their account’s balance is remembered for 48 hours and flags the pair the moment either account ends or passes. | Holds the payout for a person |
| Shared accounts | An IP address used by another address within 24 hours holds every payout on both accounts for review. Ending an account for it is still a person’s decision. | Holds the payout for a person |
| Wallet screening | A payout wallet flagged by our screening, or one our screening could not check, is held for review instead of paying. | Holds the payout for a person |
| Other accounts of this wallet | An unresolved conduct finding on any of this wallet’s other accounts holds this payout too, and once any account of this wallet has ended for conduct, every later payout of the wallet waits for a person to review it. | Holds the payout for a person |
| Equity guard | Once a guard fires, new orders wait until you remove it or set a new level. | Refused at the order |
| News pause | With it on, no new trades on a market from 5 minutes before to 5 minutes after a high-impact economic release for its currencies. You can always close. | Refused at the order |
| Equity guard range | An equity guard must sit above the drawdown floor and below your equity now. | Refused at the order |
| Guard and edit changes per day | The equity guard can be set, moved or removed at most 50 times a day; other changes to levels and working orders share a separate cap of 2,000. | Refused at the order |
| Orders per day | An account can place at most 500 orders a UTC day; the next one is refused until midnight UTC. | Refused at the order |
| Partial close minimum | A partial close can’t leave a piece smaller than the instrument’s minimum; close the whole position instead. | Refused at the order |
| Reserve coverage | A payout the reserve can’t cover is refused before it happens. | Refused at the order |