Funded Trading: Before You Start the Fortunes Funding Challenge
Funded trading challenges give you a chance to test your trading strategy and earn evaluation firm financing. For instance, Fortunes Funding offers both single- and dual-phase challenge programs specially geared toward cryptocurrency and Forex traders. Those who pass will be invited to become funded traders with access to as much as $500,000 in Fortunes Funding virtual capital.
Before you begin, it’s important to understand how the one- and two-phase challenges work. You should also familiarize yourself with Fortunes Funding documentation requirements and the payout rules that apply to challenge winners who become funded traders.
The One-Phase Funded Trading Challenge
Fortunes Funding’s one-phase challenge allows both crypto and Forex specialists to put the strength of their trading strategies on full display. It features an unlimited trading period and a minimum trading period of just one day. This gives successful traders an efficient route to earning.
Participants pass the challenge by meeting a payout target of 10%. You can use leverage of up to 30x, but you lose the challenge if you incur a daily drawdown (loss) of 3% or a maximum drawdown of 6%.
Simulated accounts start at $5,000 and go as high as $200,000 in currency. Bonus fees available upon becoming eligible for your initial payout, you will receive a one time bonus equivalent to your initial challenge fee.
The Two-Phase Funded Trading Challenge
The two-phase challenge has a challenge stage and a verification stage. Pass the initial challenge, then you’ll move to the second stage that tests your abilities an additional time.
Compared to the one-phase challenge, the payout targets in both phases of the two-phase challenge are lower and more accessible. In fact, the verification stage’s payout target ranks among the most attainable of any major funded trading challenge program.
In both phases, participants have an unlimited number of days to pass the challenge, and no minimums apply. Here are the rules for phase one:
- Payout target: 9%
- Daily drawdown: 5%
- Maximum drawdown: 10%
You cannot use leverage in phase one of the funded trading challenge, but you can access up to 100x leverage in phase two. To pass the second phase, you must satisfy the following conditions:
- Payout target: 4.5%
- Daily drawdown: 5%
- Maximum drawdown: 10%
For the two-phase challenge, simulated accounts start at $5,000 and go up to $300,000. As with the one-phase challenge, refundable fees rise on a sliding scale as you choose a higher initial balance in your simulated account.
Regular and Swing Trading
Participants in the two-phase funded trading challenge can also opt for regular or swing trading. In regular trading, neither weekend holding nor news trading is allowed.
However, weekend holding and news trading are both permitted in the swing trading challenge. But leverage is capped at 30x rather than the 100x available to regular traders.
Important Things To Know Before You Begin the Fortunes Funding Challenge
Before you enroll in the Fortunes Funding challenge, consider the following FAQs as you decide whether the program is right for you:
What platforms do participants trade on?
Participants in the funded trading challenge use the ThinkMarkets trading platform.
Which asset classes can participants trade?
You can trade any financial instrument available through the ThinkMarkets platform. Major options include indices, commodities, Forex, and cryptocurrencies. Most of our funded trading challenge participants focus on the crypto and Forex markets.
Are participants limited to only one account?
No. You can take part in the challenge using any number of funded accounts. But your accounts cannot contain a total of more than $500,000 in initial funds.
What happens if I pass the challenge?
If you pass the challenge, you’ll have the opportunity to become a funded trader with Fortunes Funding. Funded traders can access up to $500,000 in evaluation firm capital and keep 80% of their payout shares. If you qualify for Fortune Funding’s scaling plan, your payout share can rise as high as 90%.
Before you officially begin funded trading, you’ll need to submit some documents to Fortunes Funding. These requirements are necessary to verify your identity and satisfy anti-money laundering regulations. We’ll ask you to provide:
- A valid government-issued photo ID (driver’s license, passport, or government ID card)
- Proof of address no more than 60 days old (utility bill, phone bill, or bank statement)
- A selfie
Get Started With Funded Trading Today
Through the Fortunes Funding Trading Challenges, you can prove you have what it takes to become a funded trader. Select the challenge that best suits your trading style and experience today. You’ll be one step closer to earning support from a evaluation firm.
The Fortunes Funding program is open, ongoing, and accepting new participants. Get to know us and our trading community on our Discord channel or purchase your simulated account through the Fortunes Funding challenge dashboard. Good luck to all!
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