Question & Answers
Learning forex trading can seem overwhelming at first, but there are many resources available to help you get started. Some popular options include online courses, webinars, and trading books. It’s important to choose resources from reputable sources and to focus on building a strong foundation of knowledge before jumping into trading. Practicing with a demo account can also be a helpful way to apply what you’ve learned and gain experience in a risk-free environment. Finally, remember that forex trading is a long-term game, so it’s important to stay patient and disciplined in your approach.
If you’re new to forex trading, the first step is to educate yourself on the basics of the market. This includes understanding how currencies are traded, the factors that impact exchange rates, and the different trading strategies available. Once you feel confident in your knowledge, you can open a forex trading account with a reputable broker or prop firm and start practicing with a demo or funded account. This will allow you to get a feel for the platform and test out your trading strategy without risking your own real money. Once you’re ready to start trading for real, make sure you have a solid plan in place and always manage your risk.
Trading forex involves buying and selling currencies in the foreign exchange market. To get started, you need to open a forex trading account with a reputable brokerage firm that offers access to the market. Once you have funded your account, you can start placing trades using the platform provided by the broker. It’s important to have a sound trading strategy and risk management plan in place to ensure long-term success. Some key tips for trading forex include staying up-to-date with market news and events, using technical analysis to identify trends, and managing your trades with stop-loss orders.
KYC stands for Know Your Client. KYC is a mandatory process for verifying your identity. It’s a regulation that we have to abide by for issuing members like you with a live account that contains real funding capital.
It is not mandatory to have a stop-loss on your positions for any of the 3 programs. However, it is highly advised to trade with a stop-loss to manage risk effectively.
Note: For Evaluation Funded accounts, if you wish to claim 50% split upon violation in profits, it is must to have a stop-loss in every trade. Please refer to Evaluation Rule#07
Any market participant (e.g. Banks or individuals) who carries out exchange of foreign currencies for profit is a forex trader.
In order to be profitable through the exchange of foreign currencies, one needs to have a good understanding of fundamental and technical aspects of the financial markets along with proper risk management.
Foreign exchange trading is where the market participants do exchanges of foreign currencies for profit. For example, EUR/USD is a currency pair for trading the euro against the U.S. dollar. Euro will be bought in anticipation of the U.S. dollar weakening against the Euro for profit.
The Forex or foreign exchange is where the exchange of foreign currencies takes place for reasons such as trade, commerce and tourism, etc. It is the most liquid and by far the largest financial market in the world.
Our program enables traders to trade without risking their own capital. Traders are rewarded for the profits they make on simulated accounts (that is how we mitigate risk/loss) while fine tuning their skills in the process.
Partial trade closures are counted as separate trades in your trading history. If you have a Consistency Enabled Account, be sure to include partial trade closures as separate trades for the consistency calculations.
To refresh the account means to bring the account back to initial balance but in order to qualify for a refresh, your account must not have a violation.
To reset the account means you have a violation on your account and you want to receive a new account at a discounted price.
You will fund your Live account from the profits you make on your Demo account. So when you make a profit on your Demo account, your Live account size increases.
Once your live account reaches 10% of the initial account balance of the demo account, then you will receive your live account. It takes at least 3 months to receive the live account.
All of our traders start on a demo (simulated) account trading in live markets and while earning real profits.
Every month we will add your profits from your demo account to your live account up to a maximum of 3.5% of the initial account balance.
Once your live account reaches 10% of the initial account balance of the demo account, then you will receive your live account.
Traders in our program can trade as often and when they want. We do not have any limits on the number of trades or restrictions on time slots. That being said, one must remain consistent while trading (i.e. if you are placing 2-5 trades each day, you cannot suddenly place 20 trades without being flagged)
On Consistency Enabled Accounts (CEA), you will receive payments bi-weekly (every 2 weeks). On Non-Consistency Accounts (NCA), you will receive payments every 4 weeks (NOT monthly).
Traders in our program have the potential to start earning from day one. These are refer to as Expertise Earnings (EE). Once you receive/earn 10% of your original account size, you will be given a live account to trade, from which you can earn Funded Earnings (FE). You can trade both accounts simultaneously as well!
You can merge your Rapid accounts if they meet the following criteria:
– The accounts must be at initial balance (so if the account has been traded on, then you will need to wait until after your next payout when the account is reset to initial balance).
– Total amount must not exceed $100,000. However, we allow a total allocation of $300,000 per member
Rapid demo accounts can only be merged with other Rapid demo accounts and Rapid Live accounts can only be merged with other Rapid Live accounts.
To merge your accounts, please send an email to [email protected] with the account numbers that you wish to merge.
A safe way to increase or decrease your risk parameters is to keep within +/- 200% of your average or deviation by a factor of 2.
Two main KPI we use here are trades and lot size. Each week, we will take an average of the mentioned KPIs and place a ceiling (avg x 2) and floor (avg / 2) for the trades.
Any trades outside these parameters will raise a flag on an account and be a possible violation.
Daily drawdown is 5% of the starting equity or balance of the day every 5:00pm EST.
Daily drawdown is NOT fixed 5% of initial starting balance.
The overall drawdown is 12% of the initial account balance.
The profit target for Phase 1 is 8%.
The profit target for Phase 2 is 5%.
For Phase 3 (Live account), there is no profit target or minimum to withdraw.
When you receive your Live account, you will receive 75% of your profits on your first month.
On the 2nd month, you will receive 80% of your profits.
Every month after, you will receive 85% of your profits.
Live Month 1 = 75%
Live Month 2 = 80%
Live Month 3+ = 85%
Your evaluation will start on the day you make your first trade. If you wish to start 30 days after the purchase, you must inform us via email to [email protected] with your metatrader account number.
Here is the complete payout schedule for the Evaluation program:
After you complete Phase 2, you will be paid 2% of the profit target in Phase 1.
When you receive your Live account (Phase 3), you must complete a minimum of 10 trading days then you will receive your first payout 30 days after you place your first trade. After the first payout, the biweekly payments will be 14 days AFTER each withdrawal.
You can only receive your refund and Phase 2 bonus when you receive your first payout on the Live account. So after 30 calendar days in the Live account, you will be paid the following:
-4% of the profit target in Phase 2
-112% refund of the purchase fee
-75% profit split of the first month
If your account is in drawdown after 30 days, then you will have to wait until you have made profit in the account. Otherwise, we won’t be able to process your payout with the bonus and refund.
If you violate the account before the first payout then unfortunately, you will not be eligible for the refund or the 4% payout bonus of Phase 2.
When you receive your live account, you must complete a minimum of 10 trading days then you will receive your first payout 1 month after your first trade on the account.
After the first month, you will be paid bi-weekly (14 days).
You can only merge your Evaluation accounts if they meet the following criteria:
– Must be Live accounts
– The accounts must not have been merged before.
– The accounts must not have been traded OR have already received the first payout on both accounts.
– The accounts must be at the initial balance.
– Total amount must not exceed $300,000. However, we allow a total allocation of $600,000. (For example: You can have 2x 300k to have the maximum allocation of 600k)
PLEASE NOTE THE FOLLOWING:
– During evaluation phase, accounts cannot be merged and must be traded separately.
– Accounts can only be merged ONCE.
To merge your Live accounts, please send an email to [email protected] with the Live account numbers that you wish to merge.
Congratulations on passing Phase 1 of your Evaluation! Please make sure you have no remaining open or running trades, completed the minimum requirement of 5 trading days and have reached the profit target of 8% with no violations on your account.
You can upgrade your Phase 1 account to a Phase 2 account from your Dashboard. However, this option will only appear if you have completed the requirements to pass.
Congratulations on passing Phase 2 of your Evaluation! Please make sure you have no remaining open or running trades, completed the minimum requirement of 5 trading days and have reached the profit target of 5% with no violations on your account.
You can upgrade your Phase 2 to a Live account from your Dashboard. However, this option will only appear if you have completed the requirements to pass.
Live accounts will initially be on “READ-ONLY” mode and trades will be disabled until you provide the required KYC documents and signed contract.
To get your live account activated, please follow the instructions below:
1. Download the Independent Contractor Agreement below.
2. Sign the contract.
3. Send an email to [email protected] with the following:
– Your full name
– Phase 2 account number
– Signed contract
– Proof of identity card
– Proof of address document
Once you are done, please allow up to 48 hours for the Account Provisioning team to verify your documents and enable trading on your Live account.
To provide your proof of identity, you can send any official government issued identification that includes a photo of you, such as the following:
– Driver’s License
– National Identity Card
To provide your proof of address, you can send any official document that provides your name and home address of no older than 3 months, such as the following:
– Bank Statement
– Utility Bill
– Phone Bill
– Tax Documents
Yes. You will receive 112% refund with your first payout on the live account.
Even if your account reaches profit target, if at any point your account violates a trading objective, it will not be eligible to proceed to the next phase
A trading day is only counted when you open a trade on that day.
You will have 30 Calendar days to complete Phase 1 and you will have 60 Calendar days to complete Phase 2.
You can have as many Evaluation accounts as you wish up to a maximum of $600,000. However, you can only merge accounts up to $300,000 ONLY if they are live accounts. During the evaluation phase, accounts cannot be merged and must be traded separately.
For example, you can have:
– 2x 200k accounts + 2x 100k account
– 6x 100k accounts
– 3x 200k accounts
– 2x 300k accounts
However, the total allocation of $600,000 is combined with your Rapid accounts (if you have any).
For example, you can have:
– 2x 100k Rapid + 2x 400k Evaluation
– 3x 100k Rapid + 300k Evaluation
The maximum account size you can purchase is $300,000.
The maximum account size you can merge up to is $300,000.
The total allocation we allow per member is $600,000.
Scaling up is unlimited.
The profit share in the Accelerated program is 50% for all account sizes.
– Profit Target: Your account will increase every time your account grows by 10%
– Overall Drawdown: 5% of starting account balance
– Assured funding: Max account size is lower than Emphatic
– One Time Registration Fee: Accounts are 2x more affordable than Emphatic
– Profit Target: Your account will increase every time your account grows by 20%
– Overall Drawdown: 10% of starting account balance
– Assured funding: Max account size is higher than Conventional
– One Time Registration Fee: Accounts are 2x more expensive than Conventional
When you reach the profit target:
On Phase 1, your account size will increase by 2x.
On Phase 2, your account size will increase by 1.5x
On Phase 3, your account size will increase by 2x.
On Phase 4, your account size will increase by 1.5x
We allow a maximum of 3 Accelerated accounts per member.
Congratulations on reaching the profit target! You may now scale up your account by hitting the “upgrade” button on your account analyzer.
There is no consistency rule in this program. In other words we don’t restrict lot sizes. You can trade any lot size and place as many trades as you wish.
However, we do have a maximum lot size per trade but you are allowed to open multiple positions at the same time.
The limit per position is as follows:
– 50 lots for forex
– 50 lots for metals
– 100 lots for indices
– 100 lots for cryptocurrency
We don’t restrict your trading. However, Please remember consistency and risk management is the key to being a profitable trader.
No. There is no time limit. You can trade at your own pace and earn at your own pace. We will not push you to earn and threaten your account.
Unfortunately, we do not merge accounts in the Accelerated program.
Assured funding refers to the maximum account size of that account (when you reach the last Phase).
To receive the maximum account size, you must scale up your account.
There are no daily drawdown limits, however there is an overall drawdown limit.
You can increase your account size by reaching the profit target. This is called scaling up.
The profit target for Conventional is 10%.
The profit target for Emphatic is 20%.
There is no time limit to reach the profit target.
You can scale up your account every 5 calendar days.
Your account will continue to increase until you reach the last phase.
here are no daily drawdown limits, however there is an overall drawdown limit.
The only time the overall drawdown increases is when your account size increases. This is after you reach the profit target and get scaled-up.