Glossary: MLL, DLL, EOD, Max Size and more

EXL's rules use a few market names and acronyms. Here is what each one means, in a few words. Each rule also has its own article, with the reason behind it and examples.

Loss limits

• MLL (Max Loss Limit): how much the account can lose in total. It sets a balance floor: hitting the floor fails the evaluation or closes the funded account.
• DLL (Daily Loss Limit): how much the account can lose in one session. Depending on the plan, hitting it pauses the account until the next session or fails the evaluation.
• Drawdown: a pullback in the balance. In the rules, the drawdown type says how the MLL floor moves.
• EOD (end of day): the EXL Funding drawdown type. The MLL floor rises when the session closes at the highest balance so far, and it never goes down.
• Static: the EXL Career drawdown type. The floor stays fixed from day one and does not rise with profit.
• Lock: in the EXL Funding funded account, the point where the MLL floor stops rising and stays fixed.

Contracts and size

• Max Size: the limit on contracts open at the same time. What counts is the combined exposure: minis and micros can be combined.
• Mini and micro: two versions of the same futures contract; the micro is the smaller one. For Max Size, 1 mini counts as 10 micros.
• Account size: the simulated starting balance. The number in the plan's name (such as 50K) is that balance, in thousands of dollars.

Days and sessions

• Session: the CME trading session, which rolls over at 5 p.m. Chicago time. It is the “day” for every daily rule.
• Daily result: the sum of the trades closed in the session, after commissions.
• Traded day: a session with at least one trade closed by you.
• Positive day: a session with a result equal to or greater than the plan's minimum.

Evaluation and payouts

• Profit target: the profit the evaluation account needs to reach to pass.
• Approval consistency: in the evaluation, your best day's profit cannot exceed a percentage of your total profit. If it does, the target rises.
• Payout consistency: in the funded account, the same idea measured in each payout cycle, with its own percentage. It is a different rule.
• Funded account: the account you trade after passing (or from the start, in Direct), whose validated profit becomes a payout.
• Payout cycle: the period between payouts in which you meet the requirements to request the next one.
• Buffer: in Pro and Direct, the minimum balance the account must keep after a payout.
• Profit split: the percentage of the amount withdrawn that you keep.
• Reset: a new evaluation account, with the same rules, after a failure, on plans that offer it.

EXL Career

• Challenge: the EXL Career evaluation.
• Level-up trigger: the profit that moves you up a level automatically. It is also the cap for each payout on that level.
• Trigger receivable: the trigger amount set aside for you when you move up a level, paid when you request it in a payout window.
• Extra Boost: a Career add-on that, when you hit a level's MLL, sends you back to the previous level instead of ending your career.

Rules Sheet and add-ons

• Rules Sheet: the summary of the rules recorded at your purchase (product, size, add-ons, price paid and version of the Terms). Your Rules Sheet does not change, and it is what applies to your account.
• Add-on: an option chosen at purchase that changes one of the plan's rules or the platform.