Orion Funded rules: drawdown, daily loss and reset time

Orion Funded has 5 programs with verified rules, and the maximum loss is static on 3 and intraday trailing on 2. The daily loss limit resets at 00:00 UTC on every program. The table for each program below gives the profit target, daily loss limit and maximum loss, with the verification date and the firm's own source.

Verified on against Orion Funded’s own rules: orionfunded.com/faq/programs/challenge-phases, orionfunded.com/faq/programs/max-drawdown. Consistry re-reads every firm’s pages weekly.

Orion Funded rules by program

Orion Funded Standard 2-Step

Verified October 5, 2026 · source

Orion Funded Standard 2-Step: a 6% profit target in each of 2 phases, a 3% daily loss limit that resets at 00:00 UTC, and a 6% static maximum loss.

Orion Funded Standard 2-Step limits
PhaseProfit targetDaily loss limitMaximum lossMaximum loss type
Phase 16%3%6%Static
Phase 26%3%6%Static
Daily reset
The daily loss limit resets at 00:00 UTC.
Daily loss calculation
The limit is 3% of the day's opening balance or equity.
Maximum loss
The maximum loss is 6%, static: a fixed floor below the starting balance that never moves.
Minimum trading days
At least 4 trading days per phase.
Consistency rule
No consistency rule.
News trading
Restricted on funded accounts only: no opening or closing trades within 2 minutes of high-impact releases. Evaluation: no timing restriction (news trading as a strategy is prohibited everywhere). Funded: no opening, closing, modifying or stop orders within 2 minutes either side of a high-impact event. The consequence is not stated. source

Program notes. 6% target in each phase; daily loss 3% OF the greater of the previous day's closing balance or equity (it shrinks after a losing day), equity counts in real time; 6% static max from the starting balance. At least 4 trading days per phase; no time limit; no best-day rule. Leverage up to 1:100 FX. News: free during the evaluation (news trading as a strategy is prohibited); funded accounts have a ±2-minute window with no opening, closing, modifying or stop orders. Holding overnight and over weekends is allowed. MT5 or MatchTrader. 30 days without a trade expires the account. 80% split, bi-weekly; fee refunded on the 4th payout. Accounts bought before 22 March 2026 (pre-V2.2) keep their old terms. The firm's own terms define a calendar day in UAE time while its help centre says the daily limit resets at midnight UTC, we use UTC; confirm in your dashboard.

Orion Funded Swing 2-Step

Verified October 5, 2026 · source

Orion Funded Swing 2-Step: 8% then 5% profit targets, a 5% daily loss limit that resets at 00:00 UTC, and an 8% static maximum loss.

Orion Funded Swing 2-Step limits
PhaseProfit targetDaily loss limitMaximum lossMaximum loss type
Phase 18%5%8%Static
Phase 25%5%8%Static
Daily reset
The daily loss limit resets at 00:00 UTC.
Daily loss calculation
The limit is 5% of the day's opening balance or equity.
Maximum loss
The maximum loss is 8%, static: a fixed floor below the starting balance that never moves.
Minimum trading days
At least 4 trading days per phase.
Consistency rule
No consistency rule.
News trading
Allowed. No news timing restriction in the evaluation or on the funded Swing account; news trading as a strategy is still prohibited. source

Program notes. 8% then 5% target; daily loss 5% OF the greater of the previous day's closing balance or equity; 8% static max from the starting balance. At least 4 trading days per phase; no time limit; no best-day rule. Lower leverage than Standard (1:30 FX, 1:15 indices, 1:9 metals). No news restriction on the funded account (news trading as a strategy still prohibited). Holding overnight and over weekends is allowed. MT5 or MatchTrader. 30 days without a trade expires the account. 80% split, bi-weekly; fee refunded on the 4th payout. Accounts bought before 22 March 2026 (pre-V2.2) keep their old terms. The firm's own terms define a calendar day in UAE time while its help centre says the daily limit resets at midnight UTC, we use UTC; confirm in your dashboard.

Orion Funded Select 3-Step

Verified October 5, 2026 · source

Orion Funded Select 3-Step: a 5% profit target in each of 3 phases, a 5% daily loss limit that resets at 00:00 UTC, and a 5% static maximum loss.

Orion Funded Select 3-Step limits
PhaseProfit targetDaily loss limitMaximum lossMaximum loss type
Phase 15%5%5%Static
Phase 25%5%5%Static
Phase 35%5%5%Static
Daily reset
The daily loss limit resets at 00:00 UTC.
Daily loss calculation
The limit is 5% of the day's opening balance or equity.
Maximum loss
The maximum loss is 5%, static: a fixed floor below the starting balance that never moves.
Minimum trading days
At least 4 trading days per phase.
Consistency rule
No consistency rule.
News trading
Restricted on funded accounts only: no opening or closing trades within 2 minutes of high-impact releases. Evaluation: no timing restriction (news trading as a strategy is prohibited everywhere). Funded: no opening, closing, modifying or stop orders within 2 minutes either side of a high-impact event. The consequence is not stated. source

Program notes. 5% target in each of three phases; daily loss 5% OF the greater of the previous day's closing balance or equity; 5% static max from the starting balance, the daily and the overall limit are the same size, so one bad day from the start can end it. At least 4 trading days per phase; no time limit; no best-day rule. Leverage 1:30 FX. News: free during the evaluation; funded ±2-minute window. Holding overnight and over weekends is allowed. MT5 or MatchTrader. 30 days without a trade expires the account. 80% split, bi-weekly; fee refunded on the 4th payout. Accounts bought before 22 March 2026 (pre-V2.2) keep their old terms. The firm's own terms define a calendar day in UAE time while its help centre says the daily limit resets at midnight UTC, we use UTC; confirm in your dashboard.

Orion Funded Nova 1-Step

Verified September 26, 2026 · source

Orion Funded Nova 1-Step: a 4% profit target, a 4% daily loss limit that resets at 00:00 UTC, and an 8% intraday trailing maximum loss that keeps rising with new highs and has no lock point.

Orion Funded Nova 1-Step limits
PhaseProfit targetDaily loss limitMaximum lossMaximum loss type
Rules4%4%8%Intraday trailing
Daily reset
The daily loss limit resets at 00:00 UTC.
Daily loss calculation
The limit is 4% of the day's opening balance or equity.
Maximum loss
The maximum loss is 8%, trailing: it follows the peak and it is recalculated on every tick. It sits a fixed distance behind the peak. It has no lock point and keeps rising with every new high.
Minimum trading days
No minimum days, no time limit, no best-day rule in the evaluation.
Consistency rule
No consistency rule.
News trading
Restricted on funded accounts only: no opening or closing trades within 2 minutes of high-impact releases. Evaluation: no timing restriction (news trading as a strategy is prohibited everywhere). Funded: no opening, closing, modifying or stop orders within 2 minutes either side of a high-impact event. The consequence is not stated. source

Program notes. Pay after you pass. Evaluation: 4% target, 4% daily loss, 8% TRAILING max loss, the floor follows your high and only locks (at the funded starting balance) after the first approved payout, so it never locks during the evaluation. The firm says the floor follows the balance; its own configurator says the equity high, we trail equity, the stricter reading, at a fixed distance (the firm does not say fixed or percent). Daily loss is 4% OF the greater of the previous day's closing balance or equity (it shrinks after a losing day). No minimum days, no time limit, no best-day rule in the evaluation. Funded: 3% daily, 5% trailing lock, 20% best-day rule gates payouts, first 3% of profit is a non-withdrawable cushion, ±2-minute news window. Holding overnight and over weekends is allowed. MT5 or MatchTrader. 30 days without a trade expires the account. 80% split, bi-weekly; fee refunded on the 4th payout. Accounts bought before 22 March 2026 (pre-V2.2) keep their old terms. The firm's own terms define a calendar day in UAE time while its help centre says the daily limit resets at midnight UTC, we use UTC; confirm in your dashboard.

Orion Funded Zero (Instant)

Verified October 5, 2026 · source

Orion Funded Zero (Instant): no profit target, a 3% daily loss limit that resets at 00:00 UTC, and a 6% intraday trailing maximum loss that stops trailing once it reaches the starting balance.

Orion Funded Zero (Instant) limits
PhaseProfit targetDaily loss limitMaximum lossMaximum loss type
RulesNone3%6%Intraday trailing
Daily reset
The daily loss limit resets at 00:00 UTC.
Daily loss calculation
The limit is 3% of the day's opening balance or equity.
Maximum loss
The maximum loss is 6%, trailing: it follows the peak and it is recalculated on every tick. It is a percentage of the peak. It stops trailing once it reaches the starting balance.
Minimum trading days
Not recorded in the verified rules.
Consistency rule
Yes, a 20% best-day rule. Payouts: 20% best-day rule, first 3% of profit is a non-withdrawable cushion.
News trading
Restricted: no opening or closing trades within 5 minutes of high-impact releases. The profit share on those trades is reduced. News trading is allowed, but trades opened or closed within 5 minutes of a high-impact event are paid at a 50% split instead of 80%. source

Program notes. Instant account, no target. 6% TRAILING max loss: the floor is 6% below your high-water mark and locks for good at the starting balance once it reaches it (high-water mark ~+6.38%); a payout does not change it. The firm builds the high-water mark from closed balance only; we trail equity, which can only put the floor earlier, never later. The firm's terms (GTC V3.01, 16 Sep 2026) still say the floor locks only on the first approved payout; we follow the newer help centre. Daily loss 3% OF the greater of the previous close balance/equity, reset midnight UTC (it shrinks after a losing day). Payouts: 20% best-day rule, first 3% of profit is a non-withdrawable cushion. News allowed, but trades opened or closed within 5 minutes of a high-impact event pay a 50% split instead of 80%. Holding overnight and over weekends is allowed. MT5 or MatchTrader. 30 days without a trade expires the account. 80% split, bi-weekly; fee refunded on the 4th payout. Accounts bought before 22 March 2026 (pre-V2.2) keep their old terms. The firm's own terms define a calendar day in UAE time while its help centre says the daily limit resets at midnight UTC, we use UTC; confirm in your dashboard.

What Orion Funded says

These sentences are copied from Orion Funded’s own pages and stored next to the numbers above. Each links to the page it came from.

Maximum loss type · Orion Funded Standard 2-Step
“The daily loss limit is 3%. The maximum drawdown is 6%, calculated on a static basis: it is fixed at the starting balance and does not adjust as the account gains.”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

Daily loss limit · 4 programs
“The daily loss limit is calculated from the greater of your previous day’s closing balance or closing equity. It resets at the start of each calendar day, measured in UTC time (midnight to midnight, UTC).”

Source: orionfunded.com/faq/programs/daily-loss

Maximum loss type · Orion Funded Swing 2-Step
“The daily loss limit is 5%. The maximum drawdown is 8%, calculated on a static basis: it is fixed at the starting balance and does not adjust as the account gains.”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

Maximum loss type · Orion Funded Select 3-Step
“The daily loss limit is 5%. The maximum drawdown is 5%, calculated on a static basis: it is fixed at the starting balance and does not adjust as the account gains.”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

Maximum loss type · Orion Funded Nova 1-Step
“The maximum drawdown is 8% during the evaluation and 5% once funded, calculated on a Trailing Lock basis: the threshold follows the account balance and, upon the first approved payout, locks at the funded starting balance.”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

Daily loss limit · Orion Funded Nova 1-Step
“The daily loss limit is 4% during the evaluation and 3% once funded.”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

What the daily limit is measured from · Orion Funded Nova 1-Step and Orion Funded Zero (Instant)
“The Maximum Daily Drawdown is calculated as a percentage of the account balance, equal to the daily loss limit specified for the relevant program, and is not a fixed monetary amount.”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

Maximum loss type · Orion Funded Zero (Instant)
“For Orion Zero, the trailing lock is 6%. The initial floor is $94,000. As the HWM increases, the floor moves upward. When the HWM reaches approximately $106,383, the 6% trailing floor reaches the $100,000 starting balance, so the floor locks permanently at $100,000.”

Source: orionfunded.com/faq/programs/max-drawdown

Maximum loss · Orion Funded Zero (Instant)
“The daily loss limit is 3%. The maximum drawdown is 6%, calculated on a Trailing Lock basis”

Source: storage.googleapis.com/orn-core-fe-media-prod/terms_doc/GTCs%20(V3.01)%20EN.pdf

Orion Funded rules, questions answered

Does Orion Funded have a trailing drawdown?

Orion Funded Standard 2-Step, Orion Funded Swing 2-Step and Orion Funded Select 3-Step: No. The maximum loss is static: a fixed floor below the starting balance that never moves. Orion Funded Nova 1-Step: Yes. The maximum loss trails the peak. It is recalculated on every tick. It sits a fixed distance behind the peak. It has no lock point and keeps rising with every new high. Orion Funded Zero (Instant): Yes. The maximum loss trails the peak. It is recalculated on every tick. It is a percentage of the peak. It stops trailing once it reaches the starting balance.

When does the daily loss limit reset at Orion Funded?

All Orion Funded programs: The daily loss limit resets at 00:00 UTC.

How is the daily loss limit calculated at Orion Funded?

Orion Funded Standard 2-Step and Orion Funded Zero (Instant): The limit is 3% of the day's opening balance or equity. Orion Funded Swing 2-Step and Orion Funded Select 3-Step: The limit is 5% of the day's opening balance or equity. Orion Funded Nova 1-Step: The limit is 4% of the day's opening balance or equity. Orion Funded states: "The daily loss limit is 4% during the evaluation and 3% once funded."

Does Orion Funded have a consistency rule?

Orion Funded Standard 2-Step, Orion Funded Swing 2-Step, Orion Funded Select 3-Step and Orion Funded Nova 1-Step: No consistency rule. Orion Funded Zero (Instant): Yes, a 20% best-day rule. Payouts: 20% best-day rule, first 3% of profit is a non-withdrawable cushion.

What is the minimum number of trading days at Orion Funded?

Orion Funded Standard 2-Step, Orion Funded Swing 2-Step and Orion Funded Select 3-Step: The program notes state: At least 4 trading days per phase. Orion Funded Nova 1-Step: The program notes state: No minimum days, no time limit, no best-day rule in the evaluation. Orion Funded Zero (Instant): The verified rules do not record a minimum number of trading days.

Can I trade news at Orion Funded?

Orion Funded Standard 2-Step, Orion Funded Select 3-Step and Orion Funded Nova 1-Step: Restricted on funded accounts only: no opening or closing trades within 2 minutes of high-impact releases. Evaluation: no timing restriction (news trading as a strategy is prohibited everywhere). Funded: no opening, closing, modifying or stop orders within 2 minutes either side of a high-impact event. The consequence is not stated. Orion Funded Swing 2-Step: Allowed. No news timing restriction in the evaluation or on the funded Swing account; news trading as a strategy is still prohibited. Orion Funded Zero (Instant): Restricted: no opening or closing trades within 5 minutes of high-impact releases. The profit share on those trades is reduced. News trading is allowed, but trades opened or closed within 5 minutes of a high-impact event are paid at a 50% split instead of 80%.

Tracking Orion Funded rules automatically

Consistry is a trading journal for prop firm traders. It applies these verified Orion Funded limits to your trades and shows the daily room left, the distance to the maximum loss and your progress through each phase, so you do not have to work them out by hand. Logging trades and accounts is free.

Rules change and firms run promotions. Everything on this page is re-checked weekly and dated, but the account you are trading is the final word: confirm the live numbers in your Orion Funded dashboard before you rely on them.