Kaptal Rulebook.

The Kaptal Promise

Every Challenge, Reward and Live Kaptal account is governed by this Rulebook. Marketing pages describe the product. This page is the source of truth. If anything on the website, dashboard or a sales chat conflicts with this Rulebook, this Rulebook prevails unless Kaptal publishes a dated changelog entry that says otherwise.

Read this together with the Terms, Risk disclosure, Eligibility and Privacy pages. Buying a Challenge, creating an account or using the Platform is acceptance of all of them.

How these rules bind

Kaptal is a proprietary trading firm in formation. Challenge and Reward accounts are simulated evaluation accounts. They use live or delayed market data to reproduce trading conditions. They are not brokerage accounts, they do not hold your deposits as trading capital, and the notional balance is not money you own.

Where Kaptal later copies a signal into live markets, that live position belongs to Kaptal. Any amount paid to you is a performance-based reward for evaluation data and trading skill — not an investment return, profit share in a managed account, or interest on a deposit.

Definitions

• Starting balance — the notional account size at activation ($5,000, $50,000 or $100,000).
• Balance — account value from closed, realised P&L only. Open positions are excluded.
• Equity — Balance plus unrealised (floating) P&L on all open positions.
• Start-of-day balance — Balance snapshot at 00:00 UTC.
• Account buffer — realised profit above the Challenge starting balance on a Reward account.
• Challenge account — the evaluation account you buy.
• Reward account — the simulated funded account issued after a Challenge is passed and KYC is complete.
• Live Kaptal account — a live-conditions account issued only after Kaptal completes a risk assessment. Maximum one per trader.
• Breach — automatic flatten and permanent close of that account. No reset and no appeal on that account.
• Red-folder news — high-impact scheduled events Kaptal marks on the Platform (typically rate decisions, CPI, NFP, GDP and equivalent prints).
• Launch lock — the first 1,000 traders who purchase three accounts of any size lock an 85% reward split for life on eligible Reward accounts.

1. Choose your account

Kaptal offers three Challenge plans: Scout, Operator and Vanguard. All accounts use the same percentage rules.

Leverage caps by market are published on the Platform and may differ between Challenge, Reward and Live. Using maximum leverage is optional.

How it works

1. Choose a size, pay the Challenge fee, and receive a Challenge account.
2. Grow realised Balance by 10% without touching either equity floor.
3. Complete KYC. Kaptal activates a Reward account of the same size.
4. Trade the Reward account and request payouts from the buffer under the split that applies to you.
5. If you meet Kaptal's risk criteria, you may be invited to a single Live Kaptal account.

2. Profit target

• Reach +10% realised from starting balance.
• Floating profit does not count until the position is closed.
• There is no time limit.
• There is no consistency rule.
• There are no minimum trading days. One qualifying trade can pass the Challenge.

The target applies only to Challenge accounts. Reward and Live accounts have no profit target.

3. Maximum drawdown

• Maximum overall drawdown is 5% of starting balance.
• Drawdown is static. It does not trail profits. The dollar floor is set at activation and never moves.
• Breach is measured on Equity, including floating loss. You do not need to close a trade for a breach to fire.
• Touching or crossing the floor is a breach. There is no grace period.

4. Daily loss limit

• Maximum daily loss is 5% of start-of-day Balance.
• The daily limit resets every day at 00:00 UTC.
• Daily loss limit in dollars = 5% × start-of-day Balance. Equity floor for that day = start-of-day Balance − that amount.
• Breach is measured on Equity, including floating P&L. A momentary print at the floor is enough.

The daily allowance scales with realised Balance: it shrinks after a losing day and grows after a winning day. The static 5% drawdown floor never scales.

Breach

If Equity reaches or falls below either floor:

1. All open positions are closed.
2. That account is permanently disabled.
3. No payout is due from a breached account.
4. You are not billed for the trading loss.

There is no soft breach, no reset on the same account, and no appeal that restores a breached account. To trade again, buy a new Challenge, subject to account limits and eligibility. Kaptal may refuse repeat purchases after prohibited-practice findings.

Trading freedom — markets and hours

Trade the markets Kaptal lists on the Platform, which may include:

• Crypto
• Indices
• Stocks and single-name equivalents
• FX
• Tokenized assets

• 24/7 trading where the underlying market is available.
• Weekend trading is allowed where the venue supports it.
• There is no mandatory flatten at cash-market close.
• Gaps, funding, halts, weekend holes and thin liquidity still count toward Equity and can breach an account.

Kaptal may add, halt or remove an instrument. An open position in a delisted or halted market may be flattened at the last available mark.

News trading

• You may hold through red-folder news. There is no mandatory flatten-at-news rule.
• You may not open or close a position in the 5 minutes before or the 5 minutes after a red-folder release on an instrument Kaptal treats as sensitive to that event.
• The blackout is measured on server time. Partial closes, reversals and scale-ins count as opening or closing.

Permitted trading strategies

You may use any strategy that can realistically be executed in live market conditions and that does not breach this Rulebook.

• Scalping is allowed if each closed fill has been open for more than 120 seconds. Holds of 120 seconds or less may be voided and repeated use is prohibited conduct.
• Swing trading is allowed.
• Automated and API trading is allowed if it complies with the prohibited-practices policy. You are responsible for the bot.
• VPNs are allowed for ordinary privacy. A VPN used to hide a restricted jurisdiction, a second identity, or account sharing is prohibited.

Copying your own external account into a single Kaptal account is allowed. Mirroring the same book across multiple Kaptal accounts is not.

Prohibited practices policy

The following is prohibited and may end every account on the profile, forfeit pending rewards, and ban future purchases:

• Manipulating the platform, marks, or price execution.
• Exploiting technical errors, stale data, or feed abnormalities.
• Latency arbitrage, tick sniping, or any strategy designed to harvest Kaptal infrastructure rather than take market risk.
• Coordinated trading or collusion with other users.
• Hedging the same or offsetting risk between Kaptal accounts, or between a Kaptal account and an external account, so that the book has no genuine market risk.
• Account sharing, selling, or renting access.
• Using another person's identity, KYC documents, or payment method.
• Activity intended to create artificial trading results, including wash trades, self-dealing, or evaluation farming that treats the fee as a lottery ticket.
• Opening or closing inside the news blackout, or scalping at or under 120 seconds, after notice.
• Circumventing eligibility, sanctions, or account limits with multiple profiles, devices, or payment instruments.

Kaptal monitors correlation, device and payment reuse, IP and VPN patterns, hold times, and news-window prints. Kaptal decides, acting reasonably, whether conduct falls in this list. Kaptal may pause trading or payouts while it reviews a book. Findings on prohibited conduct are final for that account.

Consistency

There is no consistency rule. You may make a large portion of profits in a single trade or a single day. You do not have to distribute profits evenly. The two equity floors and the prohibited practices policy are the guardrails.

Reward split and payouts

Split

• Once funded on a Reward account, the standard split is 80% to you.
• The first 1,000 traders who purchase three accounts of any size lock 85% for life on eligible Reward accounts. The 90% upgrade is not available at launch.
• Kaptal retains the remainder. There is no hidden reduction after the split is assigned.

What you can request

• You may request up to 50% of the account buffer (realised profit above starting balance) in a single payout.
• The split is applied to the requested amount.
• Minimum payout is $100 after the split.
• Each later payout requires a higher realised Balance than the realised Balance recorded at the previous successful payout request. You must grow the account again before requesting the next reward.
• You must be flat on all positions when you request a payout. Opening a position while a reward is pending delays processing until you are flat again and Kaptal restarts the review.
• Rewards are processed Monday to Friday during market hours as published on the Platform. Weekend and holiday requests queue to the next processing window.
• Payouts are not available on Challenge accounts or breached accounts.
• KYC must be complete. Kaptal may request a source-of-funds or wallet-control check before the first payout or any later payout.

Payout method, currency and network (card, bank, or on-chain stablecoin) are those Kaptal publishes at the time of the request. Network fees charged by third parties may be deducted from the amount sent. Kaptal does not guarantee a settlement time; “processed” means Kaptal has approved and instructed the payment, not that the receiving venue has credited you.

Account scaling and inventory

• Up to 5 Challenge accounts at once.
• Up to 3 Reward accounts at once.
• Only 1 Live Kaptal account.
• Only traders who pass Kaptal's risk-assessment criteria are moved to Live Kaptal. Passing a Challenge does not create a right to Live conditions.

Limits apply per natural person, not per email. Related profiles, household payment instruments and shared devices may be treated as one trader.

Move to Live Kaptal

Live Kaptal is an invitation, not a product you can buy. If Kaptal moves you:

• You receive a new Live account with the same percentage conditions as the original Challenge (10% is not a Live target; 5% static drawdown and 5% daily loss continue to apply).
• The Live account's static drawdown dollar amount equals the original Challenge starting drawdown (5% of that Challenge starting balance). The simulated Reward balance is not additional live capital you own.
• Traders who have held the qualifying Challenge or Reward account for 30 days or more may take one final payout under the Reward rules above. Any remaining simulated balance is then forfeited when the Live account is issued.
• Traders who have held the qualifying account for under 30 days forfeit the remaining simulated Challenge or Reward balance. No final simulated payout is due.

Identity verification

KYC is not required to browse or, where offered, to buy and trade a Challenge. KYC is required before a Reward account is activated and before any payout. Typical evidence is a government ID and a liveness check. Kaptal may also require proof of address, payment-method ownership, or a wallet-signature test.

Kaptal screens against sanctions and PEP lists and may re-screen at any time. Failed, expired, or mismatched KYC pauses payouts and can close accounts without a refund of the Challenge fee.

Fees and costs

• The Challenge fee is due on purchase. Once the account is activated or 14 days have passed since purchase, whichever is earlier, the fee is non-refundable except where mandatory consumer law says otherwise.
• Spreads, commissions, swaps, borrowing and funding published on the Platform are charged to the simulated or Live book and count toward P&L and Equity floors.
• Kaptal does not charge a separate inactivity fee in this version of the Rulebook.
• You never deposit margin and you are never asked to top up a Challenge or Reward account.

Execution, capital and conflicts

Challenge and Reward fills are paper fills against Kaptal's marks. Kaptal may, trade by trade, copy a signal to a live venue, warehouse it internally, or hedge a book-level residual. You do not choose the method. P&L on your dashboard is the figure that matters for rules and rewards unless Kaptal voids a print under the prohibited-practices policy.

You do not own the account, the positions, or the notional capital. The relationship is a contract for evaluation access and, if earned, discretionary performance rewards. It is not employment, partnership, joint venture, or an investment mandate.

Kaptal earns Challenge fees, retains a share of Reward payouts, and may benefit when internally warehoused flow loses. Those conflicts are inherent in this model. The published Rulebook, labelled fills where offered, and the two equity floors are the controls.

Risk acknowledgment

By buying a Challenge or using the Platform you acknowledge the Risk disclosure in full, including that leveraged markets can move faster than you can react, that simulated fills can differ from live fills, and that a Reward or Live account can still fail on the same 5% / 5% floors.

Changes and changelog

Kaptal may update this Rulebook. The current version always lives at this URL. Material changes are dated below. Active Reward and Live accounts keep the risk parameters (target, drawdown, daily loss, split) that applied at that account's activation, unless a change is required by law or is needed to stop abuse. Challenge accounts purchased after a changelog date use the new text.

v1.0 — 15 September 2026

• Initial public Rulebook.
• Account plans: Scout $5,000, Operator $50,000, Vanguard $100,000.
• 10% realised profit target; no time limit; no consistency; no minimum days.
• 5% static drawdown from starting balance; 5% daily loss from 00:00 UTC Balance.
• News: hold-through allowed; no open or close ±5 minutes around red-folder prints.
• Minimum hold 120 seconds; automation and ordinary VPN use allowed.
• Reward split 80% standard, 85% for life after three launch accounts; 50% of buffer; $100 minimum; step-up balance for later payouts.
• Inventory: 5 Challenge, 3 Reward, 1 Live. Live move and 30-day final-payout rule as set out above.

Quick reference

Questions on a live account belong in Platform support. This Rulebook is not personalised advice. Consumer rights that cannot be waived in your country still apply — see the Terms.