A trader who had completed with success the trading evaluation phase, and currently trading for Funded Trader.
The initial balance of the account once a trader successfully meet all of the objectives in the evaluation account.
TP EVALUATION ACCOUNT
(Take Profit Evaluation Account) is the account the trader receives to trade. The fund authorised personnel will monitor and evaluate the trading activity in this account to verify the trader is complying with the trading policy of the fund. The evaluation account balance is lower by one fourth of the portfolio account balance, received one the trader is qualified. E.g. To qualify for a fully funded $40,000 account, a trader must trade an evaluation account of a $10,000.
A trader is entitled to a share of the profits made in the assigned trading account, whether it is on an evaluation account or in a portfolio manager account.
Once a trader becomes an official portfolio manager for Funded Trader, the fund may promote the trader’s account as specified by the growth scheme. By default, any portfolio manager for the Funded Trader. Yet it is the sole privilege of the fund to deny or delay promotion or change the promotion terms. The growth scheme may change according to the fund’s decision.
EVALUATION ACCOUNT OBJECTIVES
The trading policy a trader must apply in their trading activity in order to qualify for a portfolio manager for Funded Trader.
EVALUATION ACCOUNT FEE
A fee a trader pays for the fund for the privilege receive a real money trading account with profit sharing and to be evaluated by the fund’s trading directors for becoming a portfolio manager for Funded Trader.
EVALUATION ACCOUNT TRADING GUIDELINES & OBJECTIVES
Meeting all the following guidelines and objectives entitles the trader to perform as a portfolio manager for Funded Trader, with a fully funded trading account.
Trading activity is limited to Forex Majors currencies and their combinations: USD, EUR, GBP, JPY, CHF, AUD, NZD, CAD.
The following is a list of securities permitted to trade:
Forex Majors: EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, USDCHF.
Forex Majors Crosses: AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, NZDCAD, NZDCHF, NZDJPY.
A trader must avoid trading any other securities unless requested and permitted by the funds official representative. Trading securities which are not permitted for trading may result a termination of the evaluation account.
OWNERSHIP OF ACCOUNTS, TECHNOLOGY and FUNDS
- MAX EXPOSURE – The maximum allowance of lot summarised by all open positions, regardless the trade direction (Long or Short). Exceeding the max exposure value, will automatically disqualify the trader, and cause the final termination of the evaluation account. Any position at profit with SL above profit (minus commissions and swap charges), may be ignored in calculating the max exposure.
- MAX DRAWDOWN – The maximum drawdown allowance in the account. A Drawdown (DD) is the maximum change of equity value between the equity peak value and the trough equity value. This includes closed and open orders. Exceeding the Max Drawdown limitation, will disqualify the trader, and cause the final termination of the evaluation account.
- MINIMUM TRADES – The minimum count of trades required in the evaluation account is 40. A trader must exceed the number of minimum trades to qualify for a portfolio manager account.
- STOP-LOSS PER POSITION – Any position must have a hard stop loss value not greater than the value specified. Failing to place stop loss orders will cause the final termination of the evaluation account, and disqualify the trader.
- TIME LIMIT – The period of time that a trader should accomplish the evaluation objectives is up to 6 months. After the due date, the account will be terminated and the trader will be disqualified. If any profits exist in the account, the fund will send the trader’s share of profits. The time limit may be extended if a trader request from the fund, and by the fund directors approval.
Trading on TP evaluation account entitles the trader to withdrawal profit by the percentage level specified in the plan of choice.
Profits withdrawals are paid in three possible circumstances:
- A trader had completed with success the evaluation objectives.
- A trader files a withdrawal request.
- A trader was disqualified and the account balance contains profits.
- Once a trader completed with success the evaluation objective, the fund will terminate the account, pay out the profits for the trader by the specified split, and reward the trader with a new portfolio manager account.
- A trader of an evaluation account may apply for a profit withdrawal request only once. Once a profit withdrawal requested, the fund will close all open positions, terminate the account and the trader is announced disqualified. Any profits will be paid by the specified split.
- Once a trader had been disqualified while profits exist in the account, the fund will close all open orders and terminate the account from further trading. Any left profits will pay out by the specified split.
TERMINATION OF AN EVALUATION ACCOUNT
The fund will terminate an evaluation account by the following circumstances:
- A trader had exceeded the Maximum Drawdown Allowance
- A trader had exceeded the Maximum Exposure Allowance
- A trader had exceeded the Time Limit without accomplishing the evaluation objectives
- A trader fails to apply proper stop loss for all trades
Once an evaluation account is terminated, It will be disabled from further future trading. A terminated account will not be recovered.
A Trader of a terminated evaluation account may apply again for new evaluation plan from start. The current evaluation fee for the chosen account, regardless of the amount of the original fee paid, would become payable again in the event the trader wanted to open another trading account.