We allow weekend trading on the TopTier Competition accounts provided that the instruments are tradeable on the weekend (eg. cryptocurrencies).
Swing Trading - Competition
You are allowed to swing positions over the weekend on your TopTier Competition accounts.
Disqualification
Competition participants become disqualified if they breach any of our rules. Once a trader becomes disqualified from the competition their rank will be changed to “DQ” for “Disqualified.” If this occurs, there will be no way to reinstate disqualified traders back into the competition. Traders will have to wait until the next month’s registration begins in order to participate in another competition.
Please note that even after a trader becomes disqualified, they might still be able to place trades on the competition account. However, any trades placed after being disqualified will not count in the competition.
Account Inactivity - Competition
Competition accounts are automatically disabled after 30 days of inactivity from the date of issue by the broker. So please make sure to start trading once the competition starts to avoid the risk of your account being disabled.
To avoid your account from being disabled please log into your account at least once every 30 days to avoid the account from being disabled.
If your competition account becomes disabled, you will not be able to participate in the competition for the said month and will have to wait for the registration of the next month’s competition.
Max Overall Drawdown - Competition
The max overall simulated drawdown limit for the TopTier Competition is based on your initial simulated balance and is 10% of that value.
For example, if you have an initial sim balance of $100,000.00, your max overall sim drawdown limit would be $10,000.00. Meaning that your sim account’s equity would not be allowed to go below $90,000.00.
Another example would be if you had an initial sim balance of $100,000.00 but your current sim balance is $150,000.00, your max overall sim drawdown limit would still be $10,000.00 which is based on your initial sim balance. Meaning that your sim account’s equity would not be allowed to go below $90,000.00.
A simple way to calculate the max overall sim drawdown is:
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Initial Sim Balance X 0.10 = Drawdown Limit
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Initial Sim Balance – (Initial Balance X 0.10) = Drawdown Equity Limit
Note that exceeding the max overall simulated drawdown limit will result in the automatic disqualification of your account.
Daily Drawdown Limit - Competition
The daily simulated drawdown limit for the TopTier Competition is based on the day’s starting virtual balance and is 5% of the value at 5PM EST.
For example, if you have a virtual balance and equity of $100,000.00 at 5PM EST, your daily sim drawdown limit would be $5,000.00. Meaning that your account’s sim equity would not be allowed to go below $95,000.00.
Another example would be if you had a sim balance of $150,000.00 at 5PM EST but your equity was $175,000.00, your daily sim drawdown limit would be $7,500.00 which is based on your sim balance at 5PM EST. Meaning that your account’s sim equity would not be allowed to go below $142,500.00.
A simple way to calculate the daily sim drawdown is:
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Starting Day’s Balance X 0.05 = Drawdown Limit
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Starting Day’s Balance – (Starting Day’s Balance X 0.05) = Drawdown Equity Limit
Note that exceeding the daily sim drawdown limit will result in the automatic disqualification of your account.
Dashboard
As a competition account holder, you do not have access to the challenge dashboard. However, you may track your progress using the competition standing using the below link.
Competition Standing URL: https://app.toptiertrader.com/competitions
Important Dates
Below are the four dates you need to keep in mind when participating in the competition.
Registration Start Date: 15th of the month
Registration End Date: Last day of the month
Competition Start Date: 1st of the month
Competition End Date: Last day of the month
Prizes
The top 8 traders in the competition will be crowned champions and earn a free challenge account depending on their position. The challenge account would be 100% free and would need to be passed in order for the trader to become funded.
Below are the prizes based on ranking:
- 1st Place – 100k Plus Challenge
- 2nd Place – 50k Plus Challenge
- 3rd Place – 50k Plus Challenge
- 4th Place – 25k Plus Challenge
- 5th Place – 25k Plus Challenge
- 6th Place – 10k Plus Challenge
- 7th Place – 10k Plus Challenge
- 8th Place – 10k Plus Challenge
Winners of the competition will be contacted within 5 – 10 business days to claim their prize.
Registration
In order to participate in our monthly competition, you’d need to register beforehand and prepare for the start of the competition. Registration starts on the 15th of every month and ends on the last day of said month.
You are only allowed to register one account for each competition. Multiple accounts will lead to disqualification.
You may register for the competition using the below link
Competition URL: https://app.toptiertrader.com/competitions