Official Tournament Rules

These are the rules every PnL World tournament follows. When an article, an email or a page says something different, this page wins. Any change to these rules is announced with a date before it applies — never applied silently.

1. Formats

The Free Arenas are always-on practice tables — Crypto, Forex and Stocks: no clock, no rating, start over at any time. Forex and Stocks tables follow their market hours: outside them new orders cannot be placed and open positions carry over.

Each tournament page shows its markets (a single market or the crypto basket BTC, ETH, SOL, XRP, BNB), starting bankroll, entry fee and prize places.

2. Entry

• Entry stays open for the whole time a tournament is running. A late entry starts with the full bankroll and the remaining time.
• Every trader at a table starts with the same virtual bankroll.
• A tournament needs at least two traders. If the field is too small at the bell, nothing is rated and entry fees are returned.
• During open testing, entry fees and prizes use test credits. No real money is involved.

3. Trading and execution

• Prices are live market data (Binance for crypto). Positions are simulated; nothing is opened on an exchange.
• Orders are executed by the platform engine: market orders fill against the live order book (large orders get realistic slippage); limit, stop, take-profit and stop-loss orders trigger on live prices.
• Taker and maker fees and funding on perpetual positions apply as on an exchange and are part of your result.
• Liquidation follows exchange rules on the mark price.
• Other traders' open positions are hidden while a tournament is live. Standings (places and results) are visible throughout.

4. Your tournament result

Tournament result = (result equity − starting bankroll) ÷ starting bankroll, where result equity counts closed trades, fees, funding and open positions at the current mark price as if closed now, including the exit fee.

The terminal shows this number live as Tournament result. The standings use exactly the same number.

5. How places are decided

1. Accounts that were not liquidated, from the highest result to the lowest.
2. Equal results: the smaller maximum drawdown ranks higher; if that is equal too, the earlier entry ranks higher.
3. Liquidated accounts rank below every account that was not liquidated. A liquidated finish still counts as a rated result.

A trader who makes no trades finishes on 0%. Maximum drawdown is the largest fall of result equity from its own previous peak; it does not change the result.

6. The bell

At the end time, all open positions are closed at market with the same fee, and the final standings are fixed. Results are public and permanent.

7. Prizes

Prize pools are formed from entry fees after the platform fee. Prize places and amounts depend on the field size and are shown on every tournament page before you join. Prizes are credited after the tournament has finished.

8. PnL World Rating (PWR)

• Every rated finish adds points: format weight × place share × field strength. Format weights for the winner: Hourly 25, 4-Hour 40, Daily 75, Weekly 250, Monthly Major 1,000, Quarterly Final 3,000, World Championship 10,000.
• Points never expire. A trader with no rated tournament for 180 days is marked Inactive until the next rated finish.
• After five rated tournaments a trader is placed in a division (see Divisions).
• Practice tables (Free Arena) are not rated.

9. Verification and the public rankings

• Anyone can trade. To appear on the public World Rankings, a trader confirms they are a unique person (phone verification). One person, one rating.
• Verification is private: the rankings show the name you chose, never your real name unless you choose to use it as your name. Every trader also has a permanent UID — an 8-digit number on their card that never changes.

10. Fair play

Multiple accounts used to farm points or move results between accounts, collusion, and exploiting platform errors are not allowed. Results that break the rules can be reviewed after a tournament and removed from the record.

11. Changes to these rules

Changes are published on this page with the date they take effect. Finished tournaments keep the rules they were played under.