Managing your trading account effectively requires a clear understanding of the options available. Two common actions, resetting an account and renewing an account, are distinct features. Misunderstanding their differences can lead to confusion.
Here's what you need to know:
What is an Account Reset?
An account reset is a manual action you take to restore your trading account to it's original state, whether it's breached or not. This option is ideal if you are seeking a fresh start without waiting for the next billing cycle.
When you reset an account:
1) Your account balance is restored to its initial balance.
2) Your progress starts over, including any gains or losses accumulated.
Key Point: A reset does not extend the life of your evaluation account. It restores its condition while keeping the same date tied to your current billing cycle.
What is an Account Renewal?
A renewal happens automatically every 30 days unless you cancel your account before the next billing date. Renewal ensures uninterrupted access to your evaluation account, allowing you to continue trading.
When your account renews:
1) Your subscription is extended for another 30 days.
2) Your evaluation progress remains intact, if the account is not in breached status. Gains and losses carry over.
3) If the evaluation account is in breached status at the time of the billing, it will be automatically reactivated and its balance will be restored to its initial balance.
Key Point: Renewal does not reset your evaluation account, unless your account is breached at the time of rebilling. Additionally, you're provided with a reset credit if your evaluation account is not breached at the time of the rebilling.
It's crucial to understand the differences between resetting and renewing your account to effectively manage your trading journey. MyFundedFutures is not responsible or liable for any resets performed in user error or due to misinterpretation of accounts. If you have any questions or need further clarification, reach out to support team at [email protected].