We offer a FundingPips 1-Step Evaluation course which is based on one Student Phase, which you need to pass to become a Master trader . It's crucial that you have a dynamic trading system & risk management profile to pass the evaluation course. After reaching the profit target in Phase 1, the evaluation stage will be manually reviewed by our Risk Team. This review process will be completed within two working days.
The Phase of the 1-Step Model
The Student Phase (Phase I)
The student phase is to test your trading skills while defining yourself as a trader. During the student phase, you must achieve a profit target of 10% without breaching any other rule and have 3 minimum trading days.
The Master Account
You have proven that you mastered your trading skill and will be offered to trade for a Master account.
The Maximum Daily Loss & Loss Limit
Maximum Daily Loss
The Maximum Daily Loss is the amount the trader is allowed to lose every day. For the purpose of this rule, the higher value between equity and balance will be used. This rule is set to 4% of the starting equity or balance every day. The rule states that the equity of the day, which is the result of the currently floating PnL (Profit and Loss) in sum with all closed positions of that day must not hit the Maximum Daily Loss Limit. The daily maximum loss resets at 00:00 CE(S)T/server every day.
You can know more about when do I breach the Daily Loss Limit here
The Maximum Loss Limit
It the amount your equity or balance can't go below. This rule is set to 6% of the initial account size. For example, if you have a $100.000 account and the Maximum Loss Limit is 6%, your equity or balance can't go below $94.000 at any moment.
You can know about this topic here
Allowed to hold trades during news and over the weekend
During the Evaluation (Student)
You are allowed to hold trades over the weekend and trade during the news in the evaluation stage.
During the Funded (Master only)
You are allowed to hold trades during news and over the weekend. Profit from trades that are opened or closed 5 minutes prior to and after high impact news events and/or speeches on the affected currency will not be counted on the Master account UNLESS the trade was executed 5 hours prior to the event*. This restriction applies to all forms of trade execution, such as manual, pending, stop loss and take profit orders. During news speeches, the prohibited window will extend 5 minutes prior to the speech until 5 minutes after the speech has been finished. High impact News event trading will result in the deduction of any profits made from trades executed within the restricted 10-minute window.
Our system will automatically close the affected trades that are opened within the prohibited time window. We use Forex Factory as our news calendar source. In the event any deductions result in the breach of the daily loss limit or maximum loss limit, the trader is responsible for the violation. Read more about news trading in our FAQ "Can I hold trades during news and over the weekend?".
Note: To help swing traders while preventing news gamblers, trades that are opened 5 hours prior to a high impact news event are excluded and allowed to close within the prohibited time window. The profits of these trades will be counted.
We do not support purposely trading news and it will lead to a termination.
Daily 10 lot limit rule (Master only and soft breach only)
The 10 lots limit per day rule means you can only open a total of 10 lots each day. If you go over this limit, any open trades will be closed, and you won't be able to trade until the next day. This limit resets at midnight CE(S)T. If you have trades open at midnight, they count towards the next day's limit. This rule only applies to the Master account of the 1-Step & 3-Step model and it is NOT a hard breach. You will not lose the Master account for exceeding the daily lot limit.
Leverage
You can trade Forex, Crypto, Indices, Metals & Energies with RAW spreads. Forex and Metals have a 2$ commission per lot. Crypto, Indices, and Oil are commission-free. The leverage depends on the evaluation model you choose.
Forex: 1:50
Metals: 1:20
Indices: 1:20
Energies: 1:10
Crypto: 1:2
Rewards
The Payday: Tuesday Reward
A trader is eligible to request a reward every Tuesday. An 80% reward split will be applied.
Master accounts started on Monday can be requested on Tuesday (the next day).
Master accounts started on Tuesday can be requested on Tuesday (same day).
Master accounts started on Wednesday can be requested on Tuesday (after 4 trading days).
Master accounts started on Thursday can be requested on Tuesday (after 3 trading days).
Master accounts started on Friday can be requested on Tuesday (after 2 trading days).
This means that the reward schedule can range from the same day to 4 trading days.
On-Demand Rewards + 100% reward split
Once a trader earns a Hot Seat in our firm, the trader receives On-Demand rewards with a 100% reward split applied. More can be read in our FAQ "What is the Hot Seat program?"
Note: Transfers are subject to exchange rates and transaction fees. The minimum amount for a reward is 1% of the initial balance including our split.
Prohibited Trading Strategies
Trade the way you want. Use an "EA", hold during news, hold trades over the weekend and trade lot sizes as big as the leverage allows for as long as it is not: Gap trading, high frequency trading, server spamming, latency arbitrage, toxic trading flow, hedging, long short arbitrage, reverse arbitrage, tick scalping, server execution, opposite account trading, which are all prohibited. Also, copy trading or account management by a third-party vendor is prohibited. Such activities with FundingPips will result in account termination. Keep in mind that using a third-party Expert Advisor is allowed as long as it is a trade or risk manager. Using any other third-party Expert Advisor is not allowed. This will lead to a denial of the evaluation or reward and closure of the account.