Speedy Challenge

The fast-track route to a funded live account – achieve the same profits, trading at half the drawdown limit.

Introduction to the Speedy Challenge

The Speedy Challenge involves just one phase of trading but under tighter risk-management constraints. There is no second step required to progress to the Ultimate Traders live account since it is comparatively much more demanding than the classic evaluation. Depending on their level of experience, a forex trader may opt for this challenge for a faster path to funding.

Speedy Challenge Evaluation Process

The stepping stone between you and a live funded account is the evaluation process. After successful completion of the Speedy Challenge, the trader will be awarded an Ultimate Traders account of the same size capital.

PHASE 1

Challenge

A short evaluation before you can start earning. Meet the profit target and become an Ultimate Trader.

Start earning

Well done! You’re an Ultimate Trader. Trade with our capital, generate profits and you will keep up to 90% of the profits. If you’re profitable enough, we will increase your balance based on our scaling plan.

START EARNING

Choose the Best Funding Model

In summary, the Speedy Challenge is more demanding than the Classic Challenge because there is less room for error with drawdown limits. However, for the experienced trader who can manage this effectively, it is a faster route to a funded account.

*All prices shown exclude VAT. VAT will be added upon checkout for clients from the EU and the UK only.

If beneficial to your trading style, you can choose to include our bundle of trading add-ons at the stage of purchasing your challenge. Each add-on is also available individually:

No Stop-Loss – Removing the mandatory stop-loss requirement
Weekend Holdings – The ability to hold trades over the weekend (this will not affect leverage)
90/10 Split – An increase to 90/10 gains split throughout the entire funded account stage

Speedy Challenge Trading Rules

The trader aims for a 10% profit target whilst respecting the stated loss limit, stop-loss and max lots at risk. These same trading rules will also apply to the funded Ultimate Traders account, with the exception of the profit target and minimum trading days, which will no longer apply.

Minimum 3
Trading Days

At least one trade must be opened on at least 3 separate days to qualify. This is no longer required when trading on the funded Ultimate Trader account.

4% Max Daily Drawdown

Every 24-hour period your equity (balance + floating P&L) will be ‘recorded’ and your loss during the next 24-hour period should not exceed 4% of this recorded value.

6% Max
All-Time Loss

The max loss limit is calculated just once, based on your account size, and trails up until it equals the initial account balance, after which it remains permanently fixed there.

10% Profit Target

A 10% profit target must be achieved. If you register for a $100,000 size account, your aim is to trade this into a $110,000+ account. There is no fixed time limit in which you must achieve this.

Max Lots

Traders are allowed to have a maximum number of open lots equal to 1/10,000 the size of the account capital at risk. For a $100K that means 10 lots. Trades in profit are not considered at risk and those lots will be returned to the initial allocation.

Weekend trading and Stop-Loss

All trades are required to open with a stop-loss in place and close before the weekend. By default, we will close any positions failing to do so. However, traders who wish to operate without these restrictions may do so for a 10% premium on their selected plan.

Previous slide

Next slide

Minimum 3 Trading Days

At least one trade must be opened on at least 3 separate days to qualify. This is no longer required when trading on the funded Ultimate Trader account.

4% Max Daily Drawdown

Every 24-hour period your equity (balance + floating P&L) will be ‘recorded’ and your loss during the next 24-hour period should not exceed 4% of this recorded value.

6% Max All-Time Loss

The max loss limit is calculated just once, based on your account size, and trails up until it equals the initial account balance, after which it remains permanently fixed there.

10% Profit Target

A 10% profit target must be achieved. If you register for a $100,000 size account, your aim is to trade this into a $110,000+ account. There is no fixed time limit in which you must achieve this.

10% Profit Target

A 10% profit target must be achieved. If you register for a $100,000 size account, your aim is to trade this into a $110,000+ account. There is no fixed time limit in which you must achieve this.

Max Lots

Weekend trading and Stop-Loss

Benefits of Speedy Challenge

As its name suggests, the Speedy Challenge is a faster route to the Ultimate Trader funded account. Not all prop trading firms offer this single-phase. If you are a trader with a high level of experience and stringent money-management, this may be your preferred choice of evaluation.

No fixed period to reach profit target

On both the live and evaluation accounts, we encourage you to profit only on the days you believe the markets best permit, without time pressure.

Fast-track evaluation

A faster alternative to the standard 2-phase forex evaluation, recommended for the more experienced trader.

Value for Registration Fee

The registration fee is a fractional portion of the account balance and is not bettered by any other prop trading firm. Moreover, the fee refunded upon the first withdrawal from the live account.

Value for Registration Fee

The registration fee is a fractional portion of the account balance and is not bettered by any other prop trading firm. Moreover, the fee refunded upon the first withdrawal from the live account.

Trade the news

Trading economic announcements is a key part of fundamental analysis and is allowed as part of your prop trading strategy.

Scalping and Hedging permitted

These techniques are essential to day trading and may also be used as part of a prop trading strategy.

EAs permitted

When used correctly, EAs can be useful tools. Provided they aren’t used in an abusive manner, they are allowed for prop trading.

Scalping and Hedging permitted

These techniques are essential to day trading and may also be used as part of a prop trading strategy.

EAs permitted

When used correctly, EAs can be useful tools. Provided they aren’t used in an abusive manner, they are allowed for prop trading.

No fixed period to reach profit target

On both the live and evaluation accounts, we encourage you to profit only on the days you believe the markets best permit, without time pressure.

Fast-track evaluation

A faster alternative to the standard 2-phase forex evaluation, recommended for the more experienced trader.

Value for Registration Fee

The registration fee is a fractional portion of the account balance and is not bettered by any other prop trading firm. Moreover, the fee refunded upon the first withdrawal from the live account.

Trade the news

Trading economic announcements is a key part of fundamental analysis and is allowed as part of your prop trading strategy.

Scalping and Hedging permitted

These techniques are essential to day trading and may also be used as part of a prop trading strategy.

EAs permitted

When used correctly, EAs can be useful tools. Provided they aren’t used in an abusive manner, they are allowed for prop trading.

Previous slide

Next slide

Speedy Challenge FAQ

We’ve included some of the most commonly asked questions regarding the Speedy Challenge below. If you can’t find what you’re looking for, then go ahead and visit our prop trading FAQ page. We cover topics such as evaluation rules, trading account types, profit split and loss limit, account scaling plans, maximum forex leverage, add-on features, the program fee, and more.

What is a Speedy Challenge?

The Speedy Challenge is one of two methods of evaluation that Ultimate Traders uses to identify traders suitable for funded accounts. It is best suited for a highly experienced trader.

How is the Speedy Challenge different from the Classic one?

The Speedy Challenge occurs in one phase rather than two. The profit target is the same as the first step of the Classic Challenge, however, the drawdown rules are stricter and therefore there is less room for error.

What are the benefits of the Speedy Challenge?

The Speedy Challenge is a faster way for very experienced traders to receive an Ultimate Traders funded account. It costs the same fee as the Classic forex challenge and, equally, can lead to a real trading account with the same size capital and scaling options.