With the Pay Later Challenge, you complete the evaluation first and only unlock your PineX Trader Account once you have passed. So you test your trading skills first and activate the account afterwards.
The evaluation consists of a single phase with a profit target of 4 %. Once you pass the evaluation, separate rules apply in the PineX Trader Account — you'll find the key differences between the two phases in the overview below.
How you receive your Pay Later Challenge: (as of 14.04.2026)
Every customer who purchases a Challenge at PineX Capital automatically receives a Pay Later Challenge for free as a bonus gift. After your purchase, you will receive a separate email with all the information about it.
Participation is entirely optional. The Pay Later Challenge expires 15 days after issuance if it is not used.
Note: For anything not specifically covered in this article, the general Rulebook of PineX Capital applies.
Overview
Feature | Evaluation phase | PineX Trader Account |
Profit target | 4% | No target |
Max. daily loss | None | 3% |
Max. total loss | 8% trailing | 6% trailing |
Consistency rule | None | 20% of total profit |
Minimum trading days | 1 | 3 (each ≥ 0.5 % profit) |
Time limit | 15 days | None |
Reward Rate | / | 80% (100% with Add-on) |
Payout | / | After 21 exchange days |
How the Pay Later Challenge works
What happens during the evaluation?
In the evaluation phase you reach a profit target of 4 % of your starting capital. There is no daily drawdown and no consistency rule — you trade with full flexibility. The minimum trading day requirement is one day.
What happens after passing the evaluation?
Once you have reached the profit target, your account is reviewed by our team. During this review, we make sure that all rules have been followed and that your performance meets the requirements.
After a successful review, you automatically receive an email with a personal payment link to activate your PineX Trader Account. Once the payment is received, your account is created within a few minutes and automatically unlocked in your PineX Capital Dashboard — from that point on, you can start trading right away.
The process at a glance:
You pass the evaluation phase and reach the profit target
Your account is reviewed by our team
You receive an email with the payment link
Once paid, your PineX Trader Account is automatically unlocked
You can start trading right away
Maximum drawdown
The maximum drawdown is trailing and is based on the higher value between balance and equity at the time of the market rollover (0:00 CET Berlin). It rises as soon as your balance or equity reaches a new high, but does not fall back down when your equity declines again. Once the drawdown level reaches your starting capital, it is locked.
Evaluation phase: 8 % trailing
PineX Trader Account: 6 % trailing
After a reward payout, the trailing drawdown in the PineX Trader Account is reset to 6% below the starting capital. This model protects your profits and ensures disciplined risk management.
Daily drawdown
Evaluation phase: no daily drawdown
PineX Trader Account: 3 %, based on the higher value between balance and equity at the time of the market rollover (0:00 CET Berlin)
Consistency rule
The consistency rule applies exclusively in the PineX Trader Account. To receive a reward payout, your most profitable trading day must not account for more than 20 % of your total profit within the payout period. This ensures that your success is based on several solid days rather than a single large trade.
If the 20 % threshold is exceeded, your account is not blocked — you can continue trading as normal. The reward payout is simply not possible until further profits bring your best day back below the 20 % threshold. There is no consistency rule in the evaluation phase.
Minimum number of trading days
Evaluation phase: no requirement.
PineX Trader Account: To request a reward payout, you must complete at least 3 qualified trading days. A qualified trading day is a day on which you achieve at least 0.5 % profit on your starting capital. Days with lower profit, losses or no trades do not count.
Example – $10,000 account
A qualified trading day occurs when you realise at least $50 in profit. If you make a profit of $80 on day 1, $30 on day 2 and $120 on day 3, only day 1 and day 3 count as qualified.
Profit Split & payouts
In the PineX Trader Account, the Reward Rate is 80 % by default. With the matching Add-on it can be increased to up to 100 %. Reward payouts are possible after 21 exchange days (Saturdays and Sundays do not count).
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.
Leverage & trading conditions
For the Pay Later 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 & Weekend Holding
Evaluation phase: News trading as well as holding positions overnight and over the weekend are fully permitted. You can implement your strategy without restrictions.
PineX Trader Account: News trading is not permitted, and positions must not be held over the weekend. All open trades must be closed before the weekend.
Around major economic events, a restricted window of 5 minutes before to 5 minutes after the event applies in the PineX Trader Account, during which the affected instrument must not be traded.
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.
Further trading conditions
For permitted trading styles, the use of Expert Advisors (EAs) and copy trading, leverage per asset class, fees, 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 drawdown, the daily drawdown or other applicable provisions can lead to the immediate closure of the account. Closed accounts cannot be reactivated.