Buy Now, Pay Later Challenge â FAQ
Overview
What is the Buy Now, Pay Later Challenge?
The Buy Now, Pay Later Challenge allows traders to activate any account size with just $10. You trade under live challenge conditions and only pay the full account fee once you pass the challenge and are ready to receive your funded account.
Account Parameters
The drawdowns vary between Challenge and Funded Phase, please see below to understand the changes in drawdown.
Challenge Phase
Maximum Drawdown: 8% trailing (high-watermark)
Daily Drawdown: 4%
Funded Phase
Profit Cap: 5% per payout cycle
Maximum Drawdown: 6% trailing (high-watermark)
Daily Drawdown: 3%
Profit Consistency Rule: 20%
Payout Frequency: Every 14 days (bi-weekly)
Max Funding: $200,000
Trading Rules
Stop Losses
Stop loss is no longer required. This applies to all accounts.
News Trading
News trading is allowed at all times.
Expert Advisors (EAs)
â EAs are not allowed on Instant Funding accounts.
Copy Trading
Allowed for copying your own trades.
Copying other tradersâ trades in the same timeframe is not permitted.
Tick Scalping
Please avoid any attempts at tick scalping, and keep trades open for over 2 minutes.
Consistency Rules
Profit Consistency (from 1st June 2025)
No single trading day may equal or exceed 20% of your total profit for that payout period.
Example:
If you make $1,000 in one day, you must reach $5,000 total profit before youâre eligible for a payout.
Note: Consistency is calculated on total profit, not the profit cap.
(e.g., On $10,000 total profit, 20% = $2,000, regardless of a 5% withdrawal cap.)
You cannot request a payout until this rule is met.
Drawdown & Targets
Maximum Drawdown (Trailing High-Watermark, 6%)
The breach level = Highest balance/equity (HWM) â 6% of that HWM.
Example (start $100,000):
At start: HWM = $100,000 â Breach level = $94,000.
If equity peaks at $105,000 â HWM = $105,000 â Breach level = $98,700.
If balance later peaks at $110,000 â HWM = $110,000 â Breach level = $103,400.
Daily Drawdown (3%)
Recalculated daily at 5pm EST using the higher of balance or equity at reset.
Limit = that higher value minus 3% of the initial balance.
Example 1 (floating profit):
$100,000 account; 5pm equity $102,000 â Next day equity must stay â„ $99,000.
Example 2 (floating loss):
5pm equity $98,000 and balance $100,000 â Use balance; next day equity must stay â„ $97,000.
Payouts
Profit Split
80% from the first payout onward.
Payout Schedule
Bi-weekly (every 14 days).
Instant Payouts
Not available on the Buy Now, Pay Later Challenge.
Profit Cap & Max Withdrawal
Profit Cap per cycle = 5% of initial balance.
Max Withdrawal per cycle = 5% of initial balance.
Example: On $200,000, max withdrawal per cycle = $10,000.
24-Hour Payout Guarantee
Once eligible and requested, payouts are processed within 24 business hours.
If we miss this, you receive an extra 10% on your profit split.
Exceptions: weekends/holidays, compliance or risk reviews, or delays in Rise onboarding/user response.
Rule Breaches & Payout Denials
Soft Breaches (Profit Deductions)
If you break a rule (e.g., Tick Scalping, or other restrictions), the profit from that trade is deducted from your total profit.
If deductions are less than your profit, the reduced payout is still processed.
If deductions are greater than your profit (e.g., $3,000 profit but $4,000 deducted), your payout is denied.
You have a maximum of 20 soft breaches before account closure, this is detected at payout stage. Not automatically
If you have 50% or more of trades being soft breached, your payout will be declined. For example, if you have 15 trades and 10 of them are in breach of our rules, the payout will be declined
Payout Denial Penalties
1st denial: profit split halved.
2nd denial: account closed.
Floating Loss Rule (from 16th September 2025)
If your account equity ever falls more than 1% below the starting balance (including floating losses, swaps, and commissions), penalties apply:
1st breach: Profit split is halved.
2nd breach: account closed.
Example: On $100,000, if equity drops below $99,000, the system will register a breach. A second occurrence closes the account.
â ïž Applies only to accounts purchased after 15th June 2025.
Resets
Free Reset
Not available on the Buy Now, Pay Later Challenge.
Buy Now, Pay Later Terms
Pay only $10 upfront to activate any challenge account size.
You trade under live challenge conditions with full rules in effect.
Once you pass the challenge, youâll receive a link to complete the full account payment before receiving your funded account.
Failing or breaching the account means forfeiting the $10 activation fee.