`RULES
Hello Traders! We welcome you to our proprietary trading firm rules and guidelines. Please make sure you read through all our rules to ensure our program is a good fit for you.
Our rules are set for two reasons: it will result in our traders creating/following a trading plan and to ensure our proprietary trading firm is scouting real talent. They are there to help you not hurt you in your trading career.
Here is a breakdown of how all our rules and guidelines work:
Number of trading days:
During our challenge our traders are required a minimum of 30 trading days in order to provide our risk team with proper data to analyze your trading strategy in depth.
During Phase 1, there is a 10 trading days minimum requirement that must be met. If the trader hits their profit target within 5 trading days, it does not mean they may take micro lot sizes the remaining 5 trading days in order to pass the challenge. We will allow traders to reduce position sizing to reduce risk, however, it must be within reason of their average position sizing they placed during the challenge (Minimum 30% of the average lot taken)
Example: Average lot size traded during challenge 1.00 standard lot -> positions must be no lower than .20 after passing.
Max Daily Loss (5%) or 50% Profitable Days:
During our BTTFX Funding challenge there will be a max daily loss of 5% based off the starting balance of the account each day.
If max daily loss is ever violated the risk team will disable trading privileges. On a live account there will be a 5% daily drawdown review. The risk team will analyse the traders track record, if they see profitability on the account but they just went over the daily 5% limit and those trades came back to profit, the account may stay active (upon risk team discretion).
If 5% daily is violated and risk team disables trading on live account they will still receive a payout if profit is in the account.
Max Loss:
During our Global FX Funding challenge there will be a max loss limit in place at 10% drawdown. This is to protect not only your trading but our firm’s capital, we are looking for traders that are well with mitigating their risk.
As your account grows you may use the profit in your account as a buffer on top of the 10% max loss (based off initial balance).
Example: 100k account – current open/closed profit is 8k
Max loss is 100k*10% = 10k+8k (current profit) = 18k
In simple terms:
100k account – can never go below 90k equity
200k account – can never go below 180k equity
1M account – can never go below 900k equity
Risk Parameters:
Our number one priority is to help our clients trade with funded capital, however, risk management is extremely important. Global FX Funding understands that many Forex traders will over leverage which results in poor performance.
All our accounts have a set leverage of 1:100 and is not negotiable. But it may be lowered to 1:50 or 1:10 until your first withdrawal (based off our assessment by our risk team).
In addition our traders are not allowed to have more than 20 lots open at a time on a 100k account. 10 lots on the $50,000 plan, 5 lots on the $25,000 plan.
This rule is in place to help traders not over leverage and manage risk appropriately.
If they participate in our Capital Growth Plan that will increase as their account size increases.
Ex: 210k account = 40 lots
Ex: 1.03M account = 200 lots
Trading Styles:
Global FX Funding allows all types of trading styles on our platform and encourages traders of all styles to participate in our challenge. Our true ECN broker with raw spreads accommodates scalpers all the way up to swing traders with our open guidelines on holding trades over the weekend.
The only exception we have is on EA’s, we do not allow any hedging because our brokerage is regulated. All other types of EA’s are accepted.
Trading Options:
Global FX allows trading on all Forex pairs (Major, minor, crosses), Gold, indices (US30, SPX500, NAS100, GER30, UK100, FRA40), and crypto pairs (BTCUSD, ETHUSD, LTCUSD & DASHUSD).
Commissions are higher than normal on Crypto pairs, trade at your own risk.
Losses:
You are not reliable for any losses on our challenge or live (funded) accounts.
Adding Funds:
You are not allowed to add funds to your account at any time.