Please find answers to the most commonly asked questions we receive in relation to our Funded Trader Program and Education/Mentoring. If we’ve missed anything, use the contact form at the bottom of the page and we’ll get back to you:
Question: Are evaluation accounts demo accounts?
Answer: No. You will be trading on a live account from day one. Once you pass the evaluation, you will move to a fully-funded account with increased capital. The difference between the evaluation and the fully funded account is the capital size, profit split increase and assets tradable.
Question: Is there a time limit on the initial valuation stage?
Answer: Yes – it’s one year. If by the end of that one year period you have not reached the 6% target, 50% of the profits made will be paid to you and the account will be closed. If the account is in drawdown by the end of the one year period, it will simply be closed. However, you can always re-apply if you wish to try again.
Question: Once I have completed the evaluation stage and I have my initial portfolio to manage, how often are the profits paid out to me?
Answer: You will be paid automatically every month. You do not have to do anything except informing us where you want owed profits to be paid.
Question: How do I get paid my profit share?
Answer: Preferably via Bank Transfer or alternatively PayPal. We will send an email with a breakdown of the profit share owed before sending out payment.
Question: Do you only pay out 55% of the profits made when we reach 12.5% of our initial portfolio management stage?
Answer: No, you are paid 50% of any profits you make each month automatically. The 12.5% target is for the account growth purpose. When the trader reaches a 12.5% profit target, we double the account – we do not keep any unpaid profits.
Question: Is there a minimum requirement once we’re funded to the first stage ($20,000.00 or $40,000.00)?
Question: Are my profits that are paid taken off the account balance?
Answer: Yes, any profit withdrawals you make will result in us paying you 55% and withdrawing the remaining 45% of profits accrued. For example, on a $50,000.00 fully funded account, your profit target is 12.5% ($6,250) and in your first month you make 6% ($3,000.00) bringing your account balance up to $53,000.00. You can chose to:
- Withdraw the full amount
- Withdraw a partial amount
- Keep the funds as a buffer to the drawdown (4% of initial account balance e.g. 4% of $50k = $2000.00 so drawdown level is $48k)
If you decide to withdraw the full amount in the above example (55% of $3,000.00), $1650.00 will be transferred to you and $1350.00 (45%) will also be withdrawn and so your account balance reduce back to $50,000.00. However, as you have already made and booked a 6% profit, you only need to make another 6.5% (to bring it up to the 12.5% target) in order to progress to the second funded account stage of double the account balance. You are not penalised for making any withdrawals.
Question: How much does it cost me to sign up?
Question: Do I have to be a Client of yours in order to sign up for the Funded Trader Program?
Answer: No. You’ll automatically be provided with lifetime access to our education when you join the Funded Trader Program if that’s included with your purchase.
Question: If I achieve profits higher than the target during the evaluation period, will I get paid half of the said total profits or half of the target?
Answer: During the evaluation, you will only be paid half of the target you are given. Anything above that will not be paid. For example, if the given target is 6%, then you will be paid 50% of the 6% (50% profit share). Any profits made above 6% will not be paid.
Question: What if I hit the evaluation target in a short amount of time?
Answer: You’d be doing a good job! In this situation, carry on trading the same way until you finish the 30 active trading day period. We use the trade quantity and time requirements to show us that you will be a responsible trader and trust to allocate capital to you so can trade our capital.
Question: What is the maximum exposure limit?
Answer: The maximum exposure limit is the maximum lot size the trader can open at the same time while trading.
- For example, if the max lot size a trader can open is 0.50 lots, then the trader can open 1st position on EURUSD 0.20 + 2nd position on NZDJPY 0.20 + 3rd position on GBPCAD 0.05 + 4th position on USDCHF 0.05. So, the total lot size open at the same time would be 0.20 +0.20 + 0.05 +0.05 = 0.50.
- However, the trader can always open more than 0.50 lots after moving the stop loss to break even.
- For example, if the trader moves the stop loss of the previous trade [EURUSD 0.20 lots] to break even and covers the risk, then the trader will have another 0.20 lots new allowance.
- However, If the trader has 2 or more position open in the opposite direction on the same currency pair (hedging), it does not reduce the max exposure.
Question: What is the maximum exposure lot sizes for the funded accounts?
Answer: The max exposure general rule for all accounts is 5:1. We look at lot size and not the actual $ value of a position. We calculate the max exposure based on the maximum lot size opened at the same time.
- 0.5 lots for the $40K evaluation funded account.
- For example, during the evaluation phase, the trader can open a max of 0.50 lots at the same time. Then, during the portfolio manager phase, the max exposure will grow relative to the account growth. This means the max lot size will be 2 lots (0.50 lot x 4) during the $40K fully funded account, then 4 lots (2 lots x 2) during the $80K fully funded account and so on …
Question: Am I allowed to risk more than the max lot exposure?
Answer: Yes, you can under 1 condition. To move your stop loss to breakeven. For example, if you have reached the max lot exposure of 0.50 lots on open trades, and you moved the stop loss of all open trades to breakeven, then you would be able to open another 0.50 lots. Please remember, the most important thing is to have a max of 0.50 risk at the same time for all the open positions combined.
Question: What happens to the lot sizes every time an account is doubled?
Answer: The lot sizes also double to scale with the account.
Question: Can I hold positions overnight/over the weekend?
Answer: Yes to both.
Question: What FX pairs can I trade during the evaluation?
Answer: Trading any combination of USD, GBP, EUR, JPY, NZD, AUD, CHF, CAD is allowed. Indices and Gold are allowed to be traded once you are fully funded.
Question: Do you allow International Traders?
Answer: Yes, we do. We allow traders from all continents and countries including the USA & Canada.
Question: Can I use my own indicators and EAs?
Answer: Yes of course.
Question: What is the spread and the commission fee structure?
Answer: During normal volatility sessions, the major FX pairs, like EUR/USD, GBP/USD, USD/JPY, will have a spread from 0.4 to 0.9 pip. The commission rate is $9 per 1 standard lot round turn, and the overnight swap fees will be collected and/or paid nightly.
Question: What platform do we need to use for the Funded Trader Program?
Answer: MetaTrader4 (MT4) is the platform
- The brokerage we use is LMAX Group who are authorised and regulated by the Financial Conduct Authority (FCA Firm Reference Number 783200).
- The STP (or Straight Through Processing) requires no dealing desk. All orders are routed to the liquidity provider, and prices are executed at the bid/ask rate provided by the liquidity provider.
- Liquidity providers, in this case, are hedge funds, big banks, and investors that effectively act as counter-parties to each trade.
- It is vital you understand that you are one of our traders and not the broker’s client. We are the broker’s client.
Question: Once I have paid the initial one time fee, are there any ongoing fees?
Question: Is there any legally binding contract that I would need to sign that would make me liable for any losses?
Answer: No. Risk is managed via the back end and limits are pre-defined on the platform to enable you to stay within your risk limits from day one. Therefore, there’s no contract other than the agreed risk limits, drawdowns and 55% profit split. If your drawdown is hit, positions will be closed and the account will be terminated.
Question: Once I have paid the one time fee, how long do I have to wait to receive my login details for the evaluation account?
Answer: Up to 24 hours.
Question: If I require any technical support, who should I contact?
Answer: Please either call 0203 051 7507 or email email@example.com