The 2-Step Challenge tests your trading skills across two consecutive phases. If you pass both phases without breaching the trading rules or loss limits, you qualify for a Pinex Trader Account.
The model is designed for traders who prefer a clearly structured evaluation process with fair targets and static loss limits. The trading conditions remain the same from the Challenge through to the Pinex Trader Account.
Note: For anything not specifically covered in this article, the general Rulebook of PineX Capital applies.
Overview
Feature | Phase 1 | Phase 2 | PineX Trader Acc. |
Profit Target | 8% | 5% | No Target |
Max. daily loss | 4% | 4% | 4% |
Max. total loss | 10% (static) | 10% (static) | 10% (static) |
Min. trading days | None | None | 4 |
Reward Rate | / | / | 80% (100% with Add-on) |
Payout | / | / | Every 21 exchange days (14 Add-on) |
How the 2-Step Challenge works
Phase 1 – Profit target 8 %
In Phase 1 you reach a profit target of 8 % of your starting capital. There are no minimum trading days. Follow the trading rules and loss limits. Once you pass, you automatically advance to Phase 2.
Phase 2 – Profit target 5 %
In Phase 2 the profit target is 5 %. Again there are no minimum trading days, and the same trading rules and loss limits apply. Once you pass, your entire evaluation period is reviewed. This review usually takes 3 business days, but in individual cases it may take longer.
Pinex Trader Account
After a successful review you receive your Pinex Trader Account. From this point on there are no profit targets. Before a payout, a minimum of 4 trading days must be completed. The Reward Rate is 80 % by default (up to 100 % with Add-on), and payouts are possible every 21 exchange days (14 with Add-on).
Drawdown rules
The drawdown rules apply identically in both Challenge phases and in the Pinex Trader Account. Exceeding them counts as a serious breach (Hard Breach) and leads to the immediate closure of the account.
Maximum Daily Drawdown – 4 %
The maximum daily drawdown defines the highest loss an account may reach within a single trading day. For the 2-Step Challenge it is 4 %.
How is it calculated? At the daily reset at midnight 0:00 CET, the higher value of your balance or your equity is taken. 4 % is deducted from that value — the result is your daily drawdown limit for the coming day.
Example 1: Higher equity
With a balance of $105,000 and equity of $107,000, your equity must not fall below $102,720 on that day.
Example 2: Higher balance
With a balance of $100,000 and equity of $99,000, your equity must not fall below $96,000 on that day.
Dashboard: The daily loss limit is updated several times a day.
Maximum Drawdown – 10 %
The maximum drawdown is the total amount below which your balance or equity must not fall. For the 2-Step Challenge it is 10 % of the original starting capital and remains fixed (static) — it does not move up as your account balance grows.
Example:
On a $100,000 account, your balance or equity must never fall below $90,000.
Risk management
The 2-Step Challenge has no separate consistency rule and no fixed maximum loss per trade. The provisions of the general Rulebook apply.
Reward Rate & payouts
Reward Rate
Traders receive a Reward Rate of 80 % by default. With the matching Add-on it can be increased to up to 100 %.
Example
A performance difference of $5,000 can result in a reward payout of up to $4,000 in accordance with the PineX Trader Program Agreement.
Payout system
Regular payouts take place every 21 exchange days. Important: these are exchange days, meaning days on which the markets are open — Saturdays and Sundays do not count. With the «14-day payout schedule» Add-on, the cycle is reduced to every 14 exchange days.
After a payout request, the account is first reviewed for possible rule breaches. This is followed by KYC verification, during which you select your payout method — cryptocurrency or bank transfer. Reward payouts are granted exclusively to participants who have complied with all trading and reward conditions and have fully completed the verification process.
Minimum number of trading days
Before a payout, a minimum of 4 trading days must be completed in the Pinex Trader Account. What counts as a valid trading day is defined in the general Rulebook.
Add-ons
Add-ons are optional extras that can be added at purchase for an additional fee and that go beyond the standard conditions.
100 % Reward Rate – increases the reward rate to up to 100 %.
14-day payout schedule – payouts already every 14 exchange days.
Leverage & trading conditions
For the 2-Step Challenge, leverage is set per asset class as follows:
Instrument | Leverage Evaluation | Leverage PineX Trader Acc |
Forex | 1:100 | 1:50 |
Metals | 1:20 | 1:20 |
Indices | 1:20 | 1:10 |
Crypto | 1:2 | 1:1 |
Energies | 1:30 | 1:30 |
US Stocks | 1:5 | 1:5 |
EU Stocks | 1:30 | 1:30 |
Fees: No fees apply during the evaluation phase. In the Pinex Trader Account, the standard fee conditions apply.
News Trading
News trading is not permitted. Around major economic events — such as interest rate decisions or macroeconomic releases — a restricted window applies during which the affected instrument must not be traded.
Restricted window: from 5 minutes before to 5 minutes after the event. Opening or closing a position on the affected instrument within this window counts as a rule breach and leads to the closure of the account.
Example:
If a news release is published at 18:00, trading on the affected instrument is restricted from 17:55 to 18:05. A position opened at 18:04 falls inside the restricted window and constitutes a breach.
Weekend Holding
Holding or trading positions over the weekend is not permitted. All open positions must be closed before the weekend. There is no Add-on for this on the 2-Step Challenge.
Further trading conditions
For permitted trading styles (e.g. day trading, swing trading, scalping), the use of Expert Advisors (EAs) and copy trading, as well as the trading platform used, the provisions of the general Rulebook apply.
Rule breaches
Compliance with all rules is mandatory. Breaches of the maximum daily drawdown, the maximum drawdown or other applicable provisions can lead to the immediate closure of the account. Serious breaches (Hard Breach) apply both during the Challenge phases and in the Pinex Trader Account. Closed accounts cannot be reactivated.