Password changes on evaluation accounts:
Any accounts that change their master or investor passwords at any time during the challenge automatically forfeit the challenge and are not eligible to continue trading. This is because in order to review your account, we need to have access to it, so if it is found that your password has been changed, there is not way for us to know if you have failed or not or if your strategies are legitimate. This means not connecting your account to services such as myfxbook, since they require users to change their investor password.
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.
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 the that phase.
All accounts are demo accounts, it is against our rules to take advantage of this:
Even when a client becomes a Funded Trader, they will be provided a demo account with virtual funds equal. This account is connected to our Master account that places trades in the live market, according to the trades of our Funded Traders using a 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, and any use of a strategy that takes advantage of demo accounts will result in closure of a Funded Trader’s account, whether in the evaluation phase or while funded.
Some example of these strategies include:
1. Use of the guarantee of compliance with limit orders (including Takeprofit and Stoploss)
2. Use of platform or data freezing due to a Demo Server error
3. Use of a delayed data feed
4. Trading on delayed charts
5. Trading at a time of significant macroeconomic reports, and being filled at an unrealistic price due to the volatility of the event
These are the most common strategies that people use to take advantage of demo accounts, but it is possible that there are more out there. If any account is seen to be using unfair strategies or an unrealistic trading style, they will not be eligible to be funded.
To learn more about this rule check out this article.
Trading Responsibly on Funded Accounts
If you fail the funded account in 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 and we no longer wish to work with individuals who trade this way.
If you do not trade the account for 65 days the account will be marked has failed as it will expire. If your account does expire you can request to get a new account if you wish to start after 65 days. The reason behind this is we pay hosting fees for the accounts and want to limit our expenses in the even that the account is inactive.
Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. CFTC Rule 4.41