Rules for The Funded Trader Competition
Our competitions at The Funded Trader are open to anyone who wishes to participate. The following rules apply to each competition. Breaching any of these rules will immediately disqualify competition participants.
1. Eligibility
To participate in our competitions, participants must be at least 18 years old. No individuals under the age of 18 are eligible to become our clients. All participants are required to acknowledge and accept this requirement.
2. Prizing
Prizes for winning participants will be distributed within 10 days of the competition's end.
3. Schedule
The competition will begin at its scheduled starting time and will end at its announced finish time. Any entrant submitting an entry past the finish time will be disqualified.
September Competition will end at 11:59pm EST on September 30th. Please make sure to close all positions before this time.
October Competition will start on October 1st, and all accounts will be enabled by 12PM EST the same day and will end at 11:59pm EST on October 31st.
4. Participation
All competition entrants must create a valid The Funded Trader account and agree to The Funded Trader Terms of Service. Entrants must adhere to the rules and regulations of the competition.
You may only have one registered account through one email address and one IP address; if you register multiple accounts you will be immediately disqualified
5. Breaches of rules
Any and all breaches of competition rules will result in immediate disqualification from any and all competitions. This disqualification is at the sole discretion of The Funded Trader.
6. Modifications of rules
The Funded Trader reserves the right to modify these rules at any time. It is the responsibility of each entrant to check this page for rule modifications.
7. Expert Advisor (EA) and Trade Copier Rules
Usage of EAs and trade copiers are not allowed in the competitions.
8. Simulated Trading News
Simulated Trading news is permitted in The Funded Trader competitions. You are strongly advised to use adequate risk management and be aware of issues such as like slippage that can occur at high volatility news drivers.
9. Simulated Drawdown Rules
The simulated daily drawdown for the competition is calculated based on the demo balance or simulated equity, whichever is greater when the day changes at 5.00 pm est. The simulated daily drawdown amount is always fixed at 5% of the initial balance.
For the $100k account, the simulated daily drawdown will always be $5k minus the demo balance or simulated equity (whichever is higher when the day resets at 5:00 pm EST or 00:00 GMT+3). The simulated max daily drawdown resets every day at 5:00 PM EST. To ensure smooth functionality, we advise our simulated traders to not execute trades in between the window of 4:57 PM - 5:03 PM EST when the drawdown is being reset. Once your last simulated balance/equity (whichever is higher) is pulled for the trading day your dashboard will update with your new simulated Daily Breach Level. This is the amount your account simulated equity must stay above in order to not be breached.
Simulated 10% Max Total Drawdown
9. Broker and Lot size rules
As this month's competition is on ThinkMarkets - please make note of the following symbol information:
1. For FX pairs, Indices and Commodities (Gold & Silver)
Tradeable pairs will have the "x" suffix (Example: EURUSDx, NAS100x, XAUUSDx,).
5 lots Max for Forex Pairs & 3 lots Max for Commodities
3 lots Max for Indices
2. For Oil, and Crypto
Tradeable pairs will NOT have a suffix (Example: BTCUSD).
3 lots Max for Crypto & Oil
Leverage is the same as our Standard Regular Simulated Funded accounts
5 Simulated Minimum Trading Days
You are able to hold trades overnight and over the weekend
No taking advantage of unrealistic fills in the demo environment
Due to technical limitations with ThinkMarkets, the lot size rule will now be capped at 3/5 lots per side. What does this mean? This means that the net lot size position will be capped at 3 lots (indices/commodities/crypto) and 5 lots (for FX) per order side (buy or sell), as hedging is allowed. Traders can basically open a 3/5 lot SELL and a 3/5 lot BUY on the same pair, and still be within the lot size rule. Here's a breakdown example below:
Example 1:
5 lots GBPUSD BUY
5 lots GBPUSD SELL
3 lots US30
3 lots NAS100
1 lots GOLD
Total Positions: 5
Example 2:
5 lots EURJPY
5 lots GBPJPY
5 lots AUDJPY
5 lots CADJPY
5 lots CHFJPYTotal Positions: 5
Even if you decided to open 0.01 lots, you would still be limited to 5 positions across the entire account.
For Example 3:
0.01 lots GBPUSD
0.01 lots GBPAUD
0.01 lots GBPNZD
0.01 lots NZDCAD
0.01 lots GOLDTotal Positions: 5
Example 4:
5 lots GBPUSD SELL
5 lots GBPUSD SELL (Broker will deny this trade, as it puts the net position on GBPUSD at 10 lots)
3 lots US30
3 lots NAS100
1 lots GOLD
There are no soft breach rules. The lot sizes are restricted at the broker level, meaning you will not be able to open any positions or lot sizes that exceed the limitations.
For any questions or concerns about rules and regulations, please reach out to our team at [email protected].
Becoming Disqualified
If your account is not active for more than 14 days, it will become expired and be disqualified from the competition. If this occurs, you will not be able to participate in the current competition but you are welcome to join the following month's competition.
If you see "DQ" on your dashboard, your account has breached one or more of the competition rules and therefore is not permitted to compete. Please do not contact Support as they will not be able to reverse the breach. You are, however, welcome to register for next month's competition.
Please note that all trades must be closed prior to the competition's end in order to be eligible for the respective prizes.