Can I Run Multiple Challenges on the Same Firm?

Introduction

Many traders wonder how they can run multiple challenges on the same prop firm. This article will guide you through the process, including strategies to diversify across firms and run multiple challenges while adhering to platform requirements.

Running Challenges Across Multiple Prop Firms

One of the best strategies to manage multiple challenges is to diversify across several prop firms. For example, if you're based in the U.S., you can utilize firms such as:

• E8
• Funding Pips
• FXIFY
• Blue Guardian
  
  

Starting Point

If you’re just starting out, a good approach is to run one challenge on each of these firms. For instance:

• One challenge on E8
• One on Funding Pips
• One on FXIFY
• One on Blue Guardian

This way, you begin by spreading out your challenges and limiting risk across different platforms.

Running Multiple Challenges on the Same Prop Firm

If you want to run more than one challenge on the same prop firm, the only way to do so is by trading different symbol pairs.

Example:

• Challenge 1: You could run a strategy using the USD/CHF pair.
• Challenge 2: On a second challenge with the same firm, you could use a different pair, such as XAU/USD.

By using different pairs for each challenge, you avoid accidentally hedging between challenges, which could cause conflicts or trading issues.

Why Diversifying Across Prop Firms is Important

Diversifying across multiple firms is not just about running more challenges; it’s also a way to protect yourself. If something goes wrong with one firm, such as:

• The firm unexpectedly shutting down
• The firm banning or restricting your account (rare but possible)

Diversifying ensures that your funding isn’t tied up in one firm, minimizing potential risks to your overall strategy.

FXIFY: A Special Consideration

Some firms, like FXIFY, have stricter policies when it comes to running multiple accounts. For example, it is common for FXIFY to deny second account requests. Because of this, it’s a good idea to focus on getting one account funded with FXIFY and then move on to other firms.

Conclusion

Running multiple challenges on the same prop firm is possible, but it requires trading different symbol pairs to avoid conflicts. It's also a smart strategy to diversify across several prop firms to protect your funds and reduce risk. Start with one challenge on each firm, and once those are running, consider adding more challenges with different pairs or firms as needed. Always keep in mind each firm's rules, especially those like FXify that may limit additional accounts.