When you complete both steps (Step 1 Evaluation and Step 2 Verification) of the Funded Account Challenge successfully and pass the trading evaluation, you will move to the Step 3 Funded Trader and you will be granted trading access to a Funded Account controlled by the FUNDEDFOREX LLC.
There are some points to remember while trading on a Funded Account:
Trading Period - Indefinite.
Maximum Daily Loss - 8%.
Maximum Overall Loss - 11%.
Max Allocation Rule: $600K per Funded Trader & Every Funded Account must be Traded Differently. Meaning if it’s the same Strategy or Software a trader must use different pairs between accounts or if it’s the same pair, a trader must be taking different trades or using a different strategy.
Consistency Rule: In order to be eligible for your profit-share payout, you would need to be consistent in your trading activities. It means that the Highest Profit Day parameter on your Dashboard can not exceed 50%. In case this parameter has been breached, your profit share won't be paid out until you continue trading to have The Highest Profit Day at 50% or less."
Kindly check the following example for a 100.000 account:
End of Day 1: 120.000 balance - > profit of 20.000 in 1 day -> overall profit 20.000
One-day profit reported to overall profit is calculated as follows = highest profit in one day/overall profit * 100 =? %
Following the formula for the first day we have =20.000/20.000 * 100 = 100%
End of Day 2: You kept trading and made a profit of 10.000 that day; the balance is at 130.000 -> profit of 10.000 in 1 day (the highest profit in one day is still 20.000) -> overall profit 30.000
Following the formula we have = 20.000/30.000 * 100 = 66%.
End of Day 3: You kept trading and made a profit of 30.000; balance is at 160.000 -> profit of 30.000 in one day (this became the highest profit in one day) -> overall profit 60.000
Following the formula we have = 30.000/60.000 * 100 = 50%.
As you can see you have started with a 100% profit in one day and by trading and making profits the next few days you have successfully lowered the percentage to 50%.
Additionally, kindly review the list of prohibited trading strategies for the Funded Accounts by clicking/tapping here.
