Welcome to our 2 Step Challenge FAQ page, where we aim to answer all of your questions regarding our 2 Step challenges, funding and trading platform. We understand that trading can be a new experience for many of our clients, which is why we have compiled a list of frequently asked questions to help provide clarity and guidance. Our team of experts are always available to answer any additional questions you may have, so please don’t hesitate to join our Telegram for more information.
The Daily Loss Limit is the maximum your account can lose in any given day. Daily Loss Limit is calculated using the previous day balance which resets at 5 PM EST. Daily Stop compounds with the increase in your account.
Example: if your prior day's end of day balance (5pm EST) was $100,000, your account would violate the daily stop loss limit if your equity reached $95,000 during the day. If your floating equity is +$6,000 on a $100,000 account, your new- day (5pm EST) max loss is based on your balance from the previous day ($100,000). So, your daily loss limit would still be $95,000.
Maximum drawdown is the maximum your account can drawdown before you would hard breach your account. When you open the account, your Maximum Drawdown is set at 8% of your starting balance. This 8% is static and does not trail.
Positions can be held over the weekend although only Crypto allows weekend trading
Exceptions:
Yes. We will consider you inactive and your account will be breached if you do not have any trading activity on your account for 30 consecutive days.
Upon passing your Assessment, you will receive an email with instructions on how to access and complete both your “Know Your Customer” verification and your “Trader Agreement”. Once both are completed and supporting documentation is provided, your Funded Account will be created, funded and issued to you typically within 24-48 business hours. You will receive a confirmation email once this account is being enabled.
Once you pass the Assessment, we provide you with a funded account, backed by our capital. The capital in your funded Account is notional and may not match the amount of capital on deposit with the Liquidity Provider. A Funded Account is notionally funded when actual funds in the account (i.e., the equity in a Funded Account represented by the amount of capital) differs from the nominal account size (i.e., the size of the Funded Account that establishes the initial account value and level of trading).
Notional funds are the difference between nominal account size and actual capital in a Funded Account.
Use of notional funding does not impact your trading conditions in any way.
No. We do not have any control over pricing from the liquidity provider or on the executions on your
trades.
For purposes of managing risk and minimizing transaction costs, we may offset or negate market risk and act as the direct counterparty to certain trades initiated in the Account. Such trades are executed at prices provided by arm’s length third parties. This framework is intended to ensure you receive real market execution on your trades, while simultaneously allowing us to manage risk dynamically by routing existing positions or future orders to third parties for execution as we deem appropriate. We believe that such real market execution and dynamic risk management would not be possible or as cost effective if trades were executed in simulated accounts. Regardless of whether we act as counterparty to your trades, the gain or loss on your funded account is not calculated differently. However, when we act as the counterparty to your trades, there is an inherent potential conflict of interest because your trades do not result in net gain or loss to us, as your trades would if we were not the direct
counterparty.
The maximum position that you may open is determined by your available margin. We reserve the right to increase the margin requirement, limit the number of open positions you may enter or maintain in the Funded Account at any time, and to revise in response to market conditions the drawdown levels at which trading in the funded account will be halted. We or the Liquidity Provider reserve the right to refuse to accept any order.
The rules for the funded account are exactly the same as your Assessment account. However, with a funded account, there is no profit target.
If you have gains in your funded account at the time of a hard breach, you will still receive your portion
of those gains.
For example, if you have a $100,000 account and you grow that account to $110,000. Should you then have a hard breach we would close the account. Of the $10,000 in gains in your funded account, you would be paid your portion thereof.
Traders can request a withdrawal of the gains in their funded account at any time in their trader dashboard, but no more frequently than once per thirty (30) days. So, if you make gain in your funded account, you can request a withdrawal. When you are ready to withdraw the gains from your funded account, click the Withdraw Profits button in your trader dashboard and enter the amount to withdraw. All such gains are distributed via the available outbound payment solutions offered from time to time. Once your withdrawal request is approved, we will pay the monies owed to you. We reserve the right to change the withdrawal methods and options at any time.
Your first withdrawal can be requested at any time, subject to an 80/20 profit split. Thereafter, you can request a withdrawal of the gains in your account every 30 days. When a withdrawal is approved, we will also withdraw our share of the gains. The drawdown does not reset when you request a withdrawal.
Example: You have taken an account from $100,000 to $120,000. You then request a withdrawal of $16,000. In this scenario, you will receive $12,800 and we would retain $3,200. This would also take the balance of the account down to $104,000, and your Maximum Drawdown will remain$92,000. So, you would have $12,000 maximum you could lose on the account before it would violate the Maximum Drawdown rule. If you take a full withdrawal of the gains in your Funded Account, the Maximum Drawdown will still remain at $92,000.
We have risk management software that is synced with the accounts we create. This allows us to analyze your performance in real time for achievements or rule violations. As such, you must use an account that we provide to you.
Subject to compliance with applicable laws and regulations, traders from all countries, excluding OFAC listed countries, can take part in our program, unless otherwise limited at the Company’s discretion.
You must be at least 18 years of age, or the applicable minimum legal age in your country, to purchase
an assessment.
Upon purchasing an Assessment, you will receive access to a trader dashboard where you can monitor your Assessment and Funded Accounts. The dashboard is updated every time we calculate metrics, which occurs roughly every 60 seconds. It is your responsibility to monitor your breach levels.
Our technology is currently integrated with DXtrade, MatchTrader & cTrader platforms via GooeyTrade.
You can trade any products streamed by the Liquidity Provider into the available platforms, as such products may change from time to time. This includes FX pairs and CFD Indices, Commodities, Metals, and Cryptocurrencies.
We offer up to 50:1 leverage on Forex and Metals, up to 10:1 leverage on Indices, up to 5:1 leverage on Oil and up to 2:1 leverage on Cryptocurrencies.
Trading hours are generally set by the Liquidity Provider, unless set by our rules. We do not have any control over the trading hours. You can see the trading hours for each product by using the following
methods:
DXtrade – Right click symbol, select “Instrument Info”
MatchTrader – Click symbol to expand, select “Info”
cTrader – Navigate to Symbol Window, scroll down to see “Market Hours” for selected symbol
Please note that holidays can have an impact on available trading hours.
Funded accounts receive the same pricing and commissions as charged by our Liquidity Provider to other, self-funded, retail trading accounts.
Subject to our policy on Prohibited Trading as described below, you can trade using an automated strategy.
You are also prohibited from using any trading strategy that is expressly prohibited by the Company or the Liquidity Providers it uses. Such prohibited trading (“Prohibited Trading”) shall include, but not be limited to:
To view all Prohibited Uses, please review our Terms and Conditions here,
https://dashboardanalytix.com/client-terms-and-policies/?v=3acf83834396
Trading within 3 minutes before or after a News Event is prohibited. If the Company determines that trading has, in fact, occurred during the News Event. Any traders identified as having trading during a News Event during the challenge phase are subject to having those trades removed, having the leverage on their account reduced or having their account breached altogether. The Company has sole and absolute discretion in determining what constitutes a News Event.
Charges come across in the name of dashboardanalytix.com.
When trading a Funded Account for our firm, you are treated as an independent contractor. As a result, you are responsible for any and all taxes on your gains.
Affiliates are credited for referrals when a user creates an account using a link or discount code provided by the Affiliate.
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Copyright © 2024 FX Capital Funding. All rights reserved. Developed & Powered by TAD Media.
DISCLAIMER: FX Capital Funding is provided by Forest Park FX LTD. Forest Park FX LTD offers fee-based simulated trading assessments for Potential Traders. All funding assessments are provided by Forest Park FX LTD and all assessment fees are paid to Forest Park FX LTD. If you qualify for a Funded Account, you will be required to enter into a Trader Agreement with Forest Park FX LTD. Forest Park FX LTD does not provide any trading education or other services.
Ready to take your trading to the next level? Join our Prop Firm Challenge today and get started with Funded Trader Accounts for as low as $35. Don’t miss out on this opportunity to grow your trading capital and achieve your financial goals. Click here to get started now!
Copyright © 2024 FX Capital Funding. All rights reserved. Developed & Powered by TAD Media.
DISCLAIMER: FX Capital Funding is provided by Forest Park FX LTD. Forest Park FX LTD offers fee-based simulated trading assessments for Potential Traders. All funding assessments are provided by Forest Park FX LTD and all assessment fees are paid to Forest Park FX LTD. If you qualify for a Funded Account, you will be required to enter into a Trader Agreement with Forest Park FX LTD. Forest Park FX LTD does not provide any trading education or other services.