How Challenges Work

Every Proovly challenge follows the same structure. One week, real MT5, real money. Here’s the full lifecycle.

1. Pick your tier

Three entry tiers, all paid in USDC on Base:

Tier	Entry fee	Starting balance	Max seeded balance on graduation
Bronze	29 USDC	$1k	$5k
Silver	49 USDC	$2k	$10k
Gold	99 USDC	$5k	$25k

Rules are identical across tiers. Only the starting balance, the fee, and the eventual seeded account size differ. Pick the tier that matches how you actually trade — not the biggest one you can afford.

2. Pay the entry fee

Connect any EVM wallet (Coinbase Smart Wallet, MetaMask, Rabby — RainbowKit modal), pick your tier, and sign one transaction. The ChallengePayment contract on Base pulls USDC from your wallet, forwards it to our treasury, and emits a ChallengeEntryPaid event.

Our backend indexes that event and, within seconds, issues you:

• A Challenge ID (the unique identifier for this run)
• An EA API key (a signed token your EA uses to report stats)
• Links to open a broker account via our RoboForex or Exness IB link

3. Open a broker account

Follow the IB link for your chosen broker and open a cent account (not a standard account — cent accounts let you trade with small balances without weird minimum position sizes).

Deposit the starting balance for your tier. This is your money — we don’t touch it. If you fail the challenge, the remaining balance stays in the broker account under your name and you can withdraw it at any time. The entry fee is what pays us.

RoboForex and Exness both support cent accounts, MT5, and EA hosting. Pick whichever broker works best for your jurisdiction. Our IB commission is the same either way, and our rules don’t care which one you use.

4. Install the Proovly EA

Download Proovly.ex5 from your dashboard. Drop it into:

<MT5 data folder>/MQL5/Experts/

Open MT5, attach it to any chart (doesn’t matter which — the EA watches the whole account, not a single symbol), and enter your Challenge ID and API key in the EA input parameters. Hit OK. A smiley face appears in the top-right of the chart — you’re streaming.

Full install walkthrough lives on the EA install page.

5. Trade the week

Your challenge window is Monday 00:00 UTC to Friday 23:59 UTC, synced to the forex market week.

The rules in short:

• Profit target: +8% on starting balance
• Daily drawdown: 5% of peak-equity-today
• Max drawdown: 10% of peak-equity-all-time
• Min trading days: 3 separate days with at least one closed position
• Week-close rule: end the week above starting balance

Trade whatever symbols your broker offers. Use whatever strategy you want. Hold positions overnight if you want. Use news events if you want. The rules engine only cares about the four numbers above — nothing else.

Your EA reports your live stats every 5–10 seconds. Your dashboard shows you exactly how close you are to each limit in real time, with amber warnings at 70% usage and red warnings at 90%.

6. Pass, fail, or carry

At the end of Friday:

• Pass: profit target hit, no drawdown breach, three trading days logged, closed the week profitable. Your challenge status flips to passed. Your on-chain ELO updates. The graduation flow kicks in.
• Fail (breach): you broke a drawdown rule mid-week. The EA sees the breach on its next heartbeat, the rules engine marks you failed, and the dashboard locks. Your broker account is still yours — withdraw it whenever.
• Fail (target): you didn’t breach anything but you also didn’t hit +8%. The challenge ends Friday at the close, marked failed_target. Less painful for your ELO than a drawdown breach.
• Carry: not allowed in Phase 1. One challenge = one week. If you want another shot, enter the next week’s cohort.

7. Graduation (passed traders only)

Within 24 hours of passing, a seeded account is created for you on the same broker. Initial balance depends on your tier (see the table above). We wire the capital from our treasury.

You trade the seeded account under the same rules — the drawdown limits still apply, the EA still reports — but there’s no profit target anymore. The seeded account is yours to grow. Every payout cycle (currently monthly), we calculate gross P&L, take 30%, and send the remaining 70% to your wallet in USDC.

Read the graduation page for the full handover flow and the profit share page for the payout math.

8. What goes on-chain

Exactly one thing: the event. When you pass, EloRegistry.sol on Base mainnet records:

ChallengePassed(wallet, challengeId, tier, profitPct, timestamp)

That event is your credential. Your challenges themselves are off-chain (they have to be — MT5 is not a blockchain), but your proven-pass record is a public, on-chain, portable number that any future platform can read. Read more on the on-chain reputation page.