Password Changes on Evaluation Accounts Any accounts that change their master or investor passwords at any time during the challenge will automatically forfeit the challenge and are not eligible to continue trading. In order to review your account, we need to have access to it. If it is found that your password has been changed, there is no way for us to know if you have failed or passed, or if your strategies are legitimate. For example, connecting your account to services such as myfxbook, which requires users to change their investor password, would breach this rule.
Who Can Trade Your Account All accounts associated with our challenges must be traded on by only the trader who owns the account and must not be altered once a phase is passed.
Altering Accounts Once you pass Phase 1 or Phase 2, please do not alter the account in any way and make sure to close all positions. Altering an account after it has passed a phase will result in the account being invalid and therefore cause the trader to have to redo that phase.
Trading Demo Accounts All accounts are demo accounts. Therefore, it is against our rules to take advantage of any of the following: Even when a client becomes a Funded Trader, they will be provided a demo account with virtual funds equal to their account size. This account is connected to The Funded Trader’s Master account that places trades in the live market according to the trades of our Funded Traders using copy trading software. This is where the real cash flow is generated. Funded Traders are entitled to 80% of the profits made in this account. This is a common practice in this industry and allows the administration of funded accounts as well as risk management to be much simpler. For this reason, it is against our rules to take advantage of strategies that generate risk-free, consistent profits only on demo accounts. Our Funded Traders are expected to be trading on their accounts as if they are live accounts. Any use of a strategy that takes advantage of demo accounts will result in the closure of a Funded Trader’s account, whether in the evaluation phase or while funded. Examples of strategies that go against our rules include:
- Use of the guarantee of compliance with limit orders (including take profit and stop loss)
- Use of platform or data freezing due to a Demo Server error
- Use of a delayed data feed
- Trading on delayed charts
- Trading at a time of significant macroeconomic reports, and being filled at an unrealistic price due to the volatility of the event
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- These are the most common strategies that we have seen people use to take advantage of demo accounts, though this list does not represent all possible strategies that would go against our trading rules. If any account is seen to be using unfair strategies or an unrealistic trading style, they will not be eligible to be funded.
- Trading Responsibly on Funded Accounts If you fail your funded account within the first day that you acquire it, you will no longer be eligible for funding with our firm. This behavior is deemed as reckless and unprofessional. We only wish to work with individuals who trade professionally.
- Expired Accounts If you do not trade the account for 65 days then that account will expire and be marked as failed. If your account does expire, you can request to get a new account if you wish to start after the 65 day period. This ensures that traders are actively participating in our program while limiting hosting fees for accounts that expire and become inactive.
