What’s the Difference Between the Pro and Prime Challenges?

The Pro and Prime accounts differ mainly in the leverage that is offered and the trading restrictions.

Leverage

• Pro Accounts (challenge and Hola Prime accounts): Offer leverage of up to 100:1.
• Prime Accounts (challenge and Hola Prime accounts): Offer leverage of up to 30:1.
  
  

Weekend and News Trading

• Hola Prime Pro Accounts (1-Step and 2-Step):
  
  News Trading
  It is normally allowed in Challenge Phases. However, in the Hola Prime accounts, traders can hold trades at any time but are not allowed to execute (open or close) any trade on the instruments affected by high-impact news, during the window of 5 minutes before to 5 minutes after the release of such news. Please note that the execution of trade includes market execution as well as pending orders, including Stop Loss and Take Profit orders.
  You are allowed to hold trades on the affected instruments opened 5 minutes prior to the news release. If your Stop Loss or Take Profit is activated during this window of 5 minutes before and 5 minutes after, it may be taken as a violation of the Hola Prime Agreement. 

If trades for any of the affected instruments are opened/closed during the 5 minutes before and after the news release window, all trades will be closed by the system, and trading will be disabled. Traders can later contact us to get the account re-enabled and continue trading.

However, other non-targeted instruments (affected by low and medium-impact news) can be traded normally during news hours. 

For Instance, you can trade AUDNZD during the US – CPI release. However, you are not allowed to open or close USDJPY or GBPUSD during the window of 5 minutes before to 5 minutes after the CPI release.

For example, there is a high-impact news speech scheduled at 03:00 EST.

• Condition I: You are not allowed to open or close any trade (including limit, stop, TP, & SL of any trade) between 02:55 & 03:05.
• Condition II: If you are opening the trade before 2:55 and closing (including limit, stop, TP, & SL of any trade) at any time between 02:55 & 03:05, it will be considered a violation of our Terms of Service.
  Condition III: If you are opening the trade before 02:55 and closing the same trade after 03:05, the trade will be considered valid, and the profit will be counted.

For news announcements affecting USD, the restriction applies for Forex pairs with USD currency involved, including the Indices offered, namely US30, NAS100, and SPX500.

Note: Trades can be held during any news event- High, Low, or Medium.  The news release schedule and their impact levels can also be monitored in our Economic Calendar within the Client Portal. Trades with 3 blue bars are high Impact, 2 bars are medium Impact, and 1 bar is low Impact.

Weekend Holding
Holding trades over the weekends is normally allowed in Challenge Phases. However, for Hola Prime accounts, weekend holding is considered a soft breach, and any trade remaining open at 15:45 EST on Friday will be automatically closed by the system. The trading account will be disabled at that time, and you can get the accounts re-enabled to continue trading Monday onwards.

Why are trades closed at 15:45 EST?
Traders might get a worse fill if trades were closed at 17:00 EST when the weekend rollover takes place. To avoid this, trades are being closed at 15:45 EST. Additionally, it takes us time to go over all accounts and close trades in bulk. 

Note: Profit from trades that are closed by the system on Friday will be counted toward the payouts. Similarly, the trader is responsible for the violation in case any loss/deductions result in the breach of the daily loss limit or maximum loss limit in the respective account. 

Hola Prime Prime Accounts (1-Step or 2-Step):

News Trading

In Prime Challenge and Hola Prime accounts, traders can trade freely during any news hours, allowing them to take advantage of market volatility and execute trades without limitations during high-impact news events.

Weekend Holding

In Challenge and Hola Prime Accounts, traders can trade 24×7, ensuring they remain in their positions without the need to close positions before the weekend.