What guidelines must be adhered to in the Sparta Challenge?
To ensure a smooth trading experience in the Oxiprop Challenge, adherence to the following guidelines and constraints is imperative.
Maximum Daily Drawdown:
Traders are permitted a maximum daily drawdown of 5% from their initial account balance on any given day.
Maximum Overall Drawdown:
A permissible overall maximum drawdown is set at 10% of the initial account balance, ensuring that the account balance or equity does not fall below 90% of the initial balance at any point throughout the trading journey.
Minimum Trading Days:
In the Oxiprop Challenge (inclusive of both Challenge and Oxiprop accounts), a minimum of 5 distinct and separate trades must be executed during the trading journey. Trading days need not be consecutive, and traders enjoy the freedom of taking an unlimited number of trades.
Copy Trading:
Oxiprop facilitates copy trading from another Oxiprop account, prop firm, or retail broker, provided these accounts are owned by the same individual. Copy trading between accounts owned by different individuals, including relatives, family members, or friends, is strictly prohibited.
EAs/Indicators:
Traders at Oxiprop are permitted to use Expert Advisors (EAs) and Indicators to enhance their trading strategies. It is crucial for each trader to ensure that their trading parameters are unique and tailored to their individual style and account.
Restricted Trading Strategies:
Oxiprop strictly prohibits any form of cheating or platform exploitation, as outlined in the Terms of Service (TOS) agreed upon during registration. Traders are advised to thoroughly read the TOS to prevent unintended consequences.
Consistency:
Achieving consistent profitability at Oxiprop requires traders to maintain their trading habits within a specified range based on their weekly average. This range considers factors such as trading days, number of trades, and lot size. The consistency rule is applicable only to the Sparta Consistency Account.
News Trading:
In the Oxiprop Challenge (on both Challenge and Oxiprop accounts), trading 5 minutes before and after news releases is not allowed due to high market volatility. Opening and closing trades during this period may result in violations, affecting pending orders or running trades.
What constitutes the Profit Target for the Sparta Challenge?
The profit objective in the Oxiprop Challenge is detailed as follows:
Oxiprop Challenge Account:
In the Oxiprop Challenge, the objective is to enhance your account by 25% gradually. While there's no specific timeframe to achieve the 25% target, trading occurs in 4-week cycles, and a minimum of 10 days of trading is required in each cycle.
For instance, consider an account with $15,000. To fulfill the Challenge, a profit of $3,750, equivalent to 25% of the initial balance, is required. This doesn't have to be attained in a single trading cycle. For example, earning $1,875 in the first month results in a 12.5% account growth. If another $1,875 is earned in the subsequent month, the account grows an additional 12.5%. Cumulatively, this achieves the 25% growth target. Traders can take as many trading cycles as needed, provided they adhere to the rules and meet the minimum required days of trading.
Oxiprop Account: In the Oxiprop Account, there is no specified profit target.
What percentage of the Profit am I entitled to in the Sparta Challenge?
At Oxiprop, we highly appreciate your potential to achieve remarkable results. The Oxiprop Sparta Challenge provides you with the opportunity to start earning from the initial month. As a trader in the Challenge Phase, you stand to earn 15% of the generated profit in each trading cycle. Upon growing your account by 25% and acquiring an Oxiprop account, you become eligible for a profit share of up to 90%.
Here's a breakdown of how it operates:
Assume you commence with an Oxiprop account balance of $100,000. If you generate a profit of $15,000 during a 4-week trading cycle, you will directly receive a profit share of 15%, which amounts to $2,250.
For instance, if your profit reaches $15,000 in a $100,000 account, you'll consistently receive a 15% profit share until you reach the 25% growth target. If you generate an additional $10,000 profit in the subsequent month, you'll receive a 15% profit share on that amount, contributing to an overall 25% growth in your initial balance.
Once your account achieves a 25% growth, you'll be upgraded to an Oxiprop account with an increased profit share. On your first withdrawal, you'll receive a 60% profit share, followed by 75% on the second withdrawal, and an impressive 90% profit share from the third withdrawal onwards.
It's crucial to note that you'll be eligible for a profit share only if you adhere to the rules before the Challenge Phase or Oxiprop account payout.
What is the timeframe allotted for completing the Challenge Phase in the Sparta?
There is no time constraint for completing the Oxiprop Challenge, allowing traders the flexibility to take as much time as needed for its fulfillment.
However, it is essential to maintain a minimum of 10 trading days in each trading cycle. This requirement entails taking a minimum of 10 individual and separate trades each month, entering a new trade on at least 10 separate days within the month. Importantly, trading days need not be consecutive, and to simplify further, there is no maximum limit on the number of trades taken each month.
Failure to meet the 10 minimum trading days will result in the non-receipt of profits at the end of the trading cycle, and your account will be in breach. It is important to note that only executed trades contribute to the count of trading days.
Is there a specified duration to achieve the Profit Target in the Sparta Challenge?
At Oxiprop, we recognize that traders may employ diverse trading styles and have varied preferences in achieving their profit targets. In both the Oxiprop Sparta Consistency and Non-Consistency accounts, there is no rigid time limit imposed for reaching the profit target.
Additionally, it's worth noting that there is no monthly profit target in the Oxiprop Sparta Challenge. This flexibility allows traders the freedom to pursue their profit objectives without the pressure of monthly targets.
What transpires upon successful completion of the Challenge Phase in Sparta?
Upon successfully reaching the account growth and fulfilling the minimum trading days in the Oxiprop Challenge, our system will conduct an automatic profit check at the conclusion of that specific day.
If you have adhered to all the rules and achieved the profit target, a pop-up message will appear on your dashboard, providing access to the verification center. In the verification center, you can proceed with the KYC verification process.
It's important to note that if you have previously undergone the KYC verification process when receiving a payout from your account, you won't need to repeat the entire KYC process. In such cases, you only need to sign the agreement file and submit it.
Once the verification process is complete, you can expect to receive your Oxiprop account within approximately 24–48 hours.
How is the Sparta Consistency rule implemented at Oxiprop?
Here is the Consistency rule for the Oxiprop Sparta Challenge:
Non-Consistency Sparta Account:
Not applicable to non-consistency accounts.
Consistency Sparta Account:
To assist traders in developing a profitable trading strategy, Oxiprop has implemented the following rule. This rule is designed to help refine trading habits, ensuring consistent gains every week.
Traders in the Consistency Sparta Account are required to maintain consistency every week. A safe way to adjust risk consistency is to stay within +/- 200% of your weekly average or by a deviation of 2.0. The three key performance indicators (KPIs) used are the number of trading days, trades, and lot size. Each week, the average of these KPIs is calculated, and a maximum (Total x 2) and minimum (total/2) are set to determine the consistency that needs to be maintained.
Let's illustrate with an example:
- Week 1: Trade freely without worrying about consistency.
- Week 2: The average number of trades and lots taken in week 1 determine the consistency for week 2.
- Week 3: Consistency for week 3 is determined by averaging the number of trades and lots taken in weeks 1 and 2.
- Week 4: Consistency for week 4 is determined by averaging the number of trades and lots taken in weeks 1, 2, and 3.
Now, using a starting week as an example:
- On the first day, you took 10 trades with a total lot size of 12.
- On the second day, there were 15 trades with 11 total lots.
- On the third day, 19 trades with a total of 15 lots.
- On the fourth day, 26 trades with 18 total lots.
For week 1:
- Average number of trades = 70/4 = 17.5 trades.
- Average lot size = 56/4 = 14 lots.
Consistency for week 2 would be:
- For trades: Max (Average number of trades in week 1 x 2) = 17.5 x 2 = 35, Min (Average number of trades in week 1/2) = 17.5/2 = 8.75.
- For lot size: Max (Average lot size in week 1 x 2) = 14 x 2 = 28, Min (Average lot size in week 1/2) = 14/2 = 7.
From this example, the average lot size needs to be between 7 and 28, and the average number of trades needs to be between 8.75 and 35, or it will be considered a violation.
It's crucial to note that any violation of the rules may prompt a review of your account by our agent. Payouts for that particular cycle may be paused, and your account will be reset to the initial balance at the start of the next cycle, with no termination of the account.
Is compliance with the Consistency rule mandatory for the Oxiprop Sparta account?
You would have to follow the consistency rule in the Sparta Oxiprop Consistency account. Consistency is beneficial for traders as it helps refine their trading skills and achieve steady gains each week.
However, some traders may prefer more flexibility in their trading approach. In such cases, non-consistency accounts provide the desired freedom and accommodate their trading preferences.
What are the consequences of failing to meet the Consistency rule in both the Challenge and Oxiprop Account?
If you're in profit and have met the minimum trading days requirement but fail to meet the consistency rule in your Oxiprop account, in that case, your account will be reset to its initial balance. However, please note that no profit will be shared. The account balance will be returned to its initial amount.
If you're at a loss, cannot meet the minimum trading day requirement, and fail to meet the consistency rule in your Oxiprop account, as a result, your account will be breached. There will be no reset to the initial balance. Since you're in a loss, thus no profit share will be provided, and the account will be breached.
How do Non-Consistency Sparta accounts differ from Consistency Sparta accounts at Oxiprop?
In a Non-Consistency account, you have the freedom to hold trades overnight and over the weekend, without any consistency rule to follow. The Oxiprop account size will be 25% of the challenge account size.
Consistency can be advantageous for traders in refining their skills and achieving consistent gains. However, Non-Consistency accounts offer flexibility for traders who prefer more freedom in their trading approach.
Why isn't Weekend Holding an option for an Sparta-Consistency account at Oxiprop?
To ensure adherence to the consistency rule, it is important to regularly monitor and update the numbers in your Oxiprop account. This requirement is the reason why holding positions over the weekend is not permitted.
Regularly reviewing and adjusting the numbers helps maintain consistency and accuracy in your trading activities. By following this practice, you can effectively track your progress and make informed decisions to achieve your trading goals.
What amount from Oxiprop will I receive upon successful completion?
You will find the Oxiprop amount for our Sparta Challenge below:
Consistency Sparta account:
You can start your journey with a 15K/25K/50K/100K and 200k Challenge account. Once you are eligible for an Oxiprop account, you receive the full amount of your Challenge account on your Oxiprop account.
Sparta 6K Package = Oxiprop Account $6,000
Sparta 15K package = Oxiprop Account $15,000
Sparta 25K package = Oxiprop Account $25,000
Sparta 50K package = Oxiprop Account $50,000
Sparta 100K package = Oxiprop Account $100,000
Sparta 200K package = Oxiprop Account $200,000
Non-Consistency account:
You can start your journey with 15K/25K/50K and 100K Challenge accounts. Once you are eligible for an Oxiprop account, you receive 25% of your Challenge account on your Oxiprop account. You can check the amount below:
Sparta 6K Package = Oxiprop Account $1,500
Sparta 15K Package = Oxiprop Account $3,750
Sparta 25K Package = Oxiprop Account $6,250
Sparta 50K Package = Oxiprop Account $12,500
Sparta 100K Package = Oxiprop Account $25,000
Why the Oxiprop amount is 25% on the Non-Consistency account?
Consistency is crucial for traders to improve their trading skills and steadily increase their profits on a weekly basis. This is why traders must adhere to the consistency rule in the consistency account, as it promotes discipline and regular progress.
However, some traders prefer more flexibility in their trading approach. For those traders, the non-consistency account is a better choice, as it allows for greater freedom in trading decisions.
The Non-Consistency account offers features that are not available in Consistency accounts. For example, holding trades over the weekend is a common trading strategy that can be implemented in non-consistency accounts, but not in consistency accounts. Thus, enabling traders to execute their preferred trading strategies effectively.
To strike a balance between consistency and flexibility, there is a requirement of 25% of the initial amount in the non-consistency account. This ensures that traders maintain a certain level of commitment while enjoying the additional features and trading opportunities provided by the non-consistency account.
Can I secure an Oxiprop account by achieving a 25% account growth within 10 days?
As the minimum trading days for an Sparta Challenge are 10 days on every 4 trading cycles, you have to maintain 10 minimum trading days even if you reach the profit target earlier.
If you can achieve a 25% growth in your account within 10 days by complying with all the rules, then you will be eligible for an Oxiprop account.