Criteria & Rules
Learn about Rails Play Evaluation criteria, winning and failing, and our rules.
Evaluation Criteria
Each evaluation account begins with an initial starting balance of $100,000 in simulated capital. Using that simulated capital, you'll need to reach the target equity without breaking any criteria or rules to win.
Learn more about the evaluation criteria and definitions below:
Target Equity
+15%
The target equity is the amount of profit you need to make in your evaluation account to win. It is based on your initial simulated capital amount.
Note: You must close your positions to realize your profits to reach your target equity.
Daily Loss Limit
-3%
The daily loss limit defines the lowest point your account balance can reach in a day. It is recalculated daily, based on your balance at 00:00 UTC, and set as a percentage (3%) below that starting balance.
Note: Both open and closed positions (unrealized and realized PnL) are considered in this figure.
Max Drawdown
-5%
The max drawdown defines the lowest your account balance can reach for the entire evaluation. This is fixed as a percentage (6%) below your initial balance. Unlike the daily limit, this number never changes. Note: Both open and closed positions (unrealized and realized PnL) are considered in this figure.
Both the Daily Loss Limit and Max Drawdown rules are in force at the same time. If your equity falls below EITHER of these thresholds, you will have failed the evaluation.
See examples below:
Example Profit Target Calculation
Your account equity begins with $100,000.
Profit Target = 15%
$100,000 + 10% = $15,000
Your account equity must exceed $115,000 to pass.
Reminder: unrealized P&L and fees are considered in your account equity balance.
Example Daily Loss Limit calculation
At 00:00 UTC, your balance including unrealized PnL from all open positions is $105,000.
Daily Loss Limit = $105,000 – 3% = $101,850
Your daily loss equity limit is $101,850 until the next reset at 00:00 UTC. This means that if your account equity balance (including fees and unrealized P&L) reaches or falls below $101,850 at any time, you will have failed the evaluation.
Example Max Drawdown calculation
Your evaluation starts with $100,000.
Max Drawdown = $100,000 – 5% = $95,000
Your max drawdown equity limit is $95,000 for the entire evaluation. This means that if your account equity balance (including fees and unrealized P&L) reaches or falls below $95,000 at any time you will have failed the evaluation.
What is simulated capital?
In Evaluations, simulated capital is a notional balance that looks like real money but exists only for evaluation or training. When you buy an evaluation, you are provided the notional amount within an evaluation on Rails Prop. You cannot withdraw or receive payouts from this capital, and there is no monetary value.
Need help? Our FAQs cover most questions! If you still need help, please send us an email.
Program Rules
The following rules are in place for all evaluation accounts on Rails Play:
Time Limits: There are no minimum or maximum time limits for any of our evaluations, but all trades must remain open for at least 60 seconds. A purchase cooldown applies after 3 consecutive wins.
Positions per Market: You may only have one position per market.
Hedging: Hedging within the same account is not permitted. You may only have one position per market, and only one evaluation account at a time.
Copy Trading: Any copy trading must be copying your own trades. Copying third party strategies including but not limited to copy trading other traders’ and analysts’ ideas and copy trading signals from any type of trading community, social media, research reports, crowdsourced ideas, and similar entities – is prohibited.
Weekend Position Holdings: Positions can be held over the weekend, and all trading is 24/7. The only exceptions are during scheduled maintenance or unexpected service interruptions.
Multiple Evaluations: You are limited to only one evaluation at any given time. You must wait until you win or fail the current evaluation before purchasing another one. Trading more than one evaluation at a time is prohibited.
News Event Trading: We allow trading during all news events, subject to accessibility of data and pricing information from our Index Price providers. There is no rule or restriction on news trading.
VPN Usage Policy: We allow the use of VPNs for trading, however, you cannot use VPNs in an attempt to conceal or misrepresent the jurisdiction in which you are operating or evade applicable laws and regulations.
Prohibited Trading Practices: Users are prohibited from using any trading strategy that is expressly prohibited by our Terms of Service.
Refund Policy: We do not offer refunds. Our full policy is available in our Terms and Conditions.
As a reminder, both the Daily Loss Limit and the Max Drawdown apply at the same time. If your account equity falls below either threshold, your evaluation fails. There are also multiple prohibited trading practices that you can see in more detail below:
Prohibited Trading Practices
Such prohibited trading (“Prohibited Trading”) shall include, but not be limited to:
Exploiting errors or latency in the pricing and/or platform(s).
Utilizing non-public and/or insider information.
Front-running of trades placed elsewhere.
Trading in any way that creates regulatory issues for Rails Prop or any of its affiliates, customers or vendors.
Utilizing any third-party strategy, off-the-shelf strategy or one marketed to win evaluations.
Attempting to arbitrage your account with another account with the Company or any third-party company, as determined by the Company in its sole and absolute discretion.
Using trading strategies that are difficult to replicate in the live market, or come at a heightened risk when attempting to do so. This includes but is not limited to: trades that would risk being auto-deleveraged due to Margin Requirements, trades resulting in exceedingly large fluctuations in unrealized gains/losses, and more.
Executing trade ideas belonging to or inspired by any third-party, including but not limited to copy trading other traders’ and analysts’ ideas and copy trading signals from any type of trading community, social media, research reports, crowdsourced ideas, and more.
Trading more than one Rails Prop Evaluation at the same time.
Account sharing of any nature, including but not limited to sharing credentials with other users and/or trading multiple accounts from the same household, devices, or IP address.
Winning the Evaluation
Users have won the evaluation when their equity balance (realized profits only) reaches the Profit Target, and none of the failure conditions have been triggered.
Note: All rules and conditions apply at all times and are enforced simultaneously.
Here's what to expect if you win the Rails Play Evaluation:
You'll be prompted to claim your trading credit in the My Account page.
Once claimed, your trading credit will be automatically credited to your active Rails account balance, within your Rails Play Sub-Account.
If you don't have an active Rails account with the same email, you must create one.
The trading credit reward is withdrawal locked, but eligible to be traded with up to 5x leverage with no loss limits.
Profits earned on your Rails Play Sub-Account over and above the trading credit value can be withdrawn, subject to profit share rules.
Consecutive Win Purchase Cooldown
To keep Rails Play fair and accessible for everyone, a purchase cooldown applies after a series of successful evaluations.
If you achieve three (3) consecutive Winning Evaluations, you must wait 24 hours from the time the third win is recorded before purchasing another Rails Play Evaluation.
“Consecutive” means wins without any failing evaluation in between. Any failed evaluation resets the consecutive win count to zero.
This cooldown governs purchase eligibility only. All other rules still apply, including that you may hold only one Rails Play Evaluation at a time.
Circumvention is prohibited. Attempting to evade the cooldown (including via multiple accounts, shared devices/IPs, or other means) violates the Program Rules and may result in termination of the evaluation without refund and/or other remedies.
Failing the Evaluation
Even if you fail your evaluation, you still earn Rails Points rewards!
An Evaluation is considered failed if any of the following conditions occur:
Account equity falls below the Daily Loss Limit
Account equity falls below the Max Drawdown
Use of prohibited trading practices are detected
Any violation of the Terms and Conditions
Note: Estimated Trade Fees and Unrealized PnL are both considered in the account equity balance.
If the evaluation is failed, all positions are automatically closed. The failed evaluation account is then disabled, and you can purchase a new evaluation if you wish to try again.