At SeacrestFunded, we provide traders with flexibility in choosing their simulated trading styles and simulated strategies. However, we do have restrictions in place to prevent abusive practices and ensure fair simulated trading experiences. Please find below a comprehensive list of prohibited simulated trading practices. Violation of any of these requirements will result in immediate failure and closing of your demo account: We no longer allow EAs on Platform 5. You are allowed to use copy traders as long as they are not an EA.
1. Copy Trading:
Engaging in simulated trades that mimic another trader or group of traders across multiple accounts.
Using market-purchased Expert Advisors (EAs) that facilitate copy trading. To mitigate the possibility of violating this rule, we recommend using different set files or adjusting settings.
2. Reverse Trading/Group Hedging:
Simulated Hedging or executing simulated reverse trades within a single demo account is permissible.
However, executing a simulated buy trade on one demo account and a simulated sell trade on another demo account is prohibited. This violates the rule against simulated reverse trading or simulated hedging across multiple demo accounts.
Simulated Group hedging involves individuals coordinating opposing positions across one or multiple prop firms or simulated prop firms to reduce/eliminate risk and exploit prop firm or simulated prop firm rules. This practice is also prohibited.
3. Account Management Services:
Purchasing or providing live account or demo account management services or engaging in prop firm or simulated prop firm passing services is strictly forbidden.
Sharing your demo account information or allowing someone else to pass a challenge on your behalf is prohibited. Violation of this rule will result in the loss of all involved demo accounts.
4. HFT (High-Frequency Trading):
High-frequency trading (HFT) is strictly prohibited at our firm.
Engaging in HFT methods will be considered a violation, and demo accounts associated with such practices will be terminated.
5. Using Max Leverage/High Leverage and Gambling type Trading:
THIS RULE IS ONLY FOR FUNDED ACCOUNTS:
Maxing out your leverage or close to it regardless of your SL is not a trading practice we condone or allow here. This also goes for gambling-type trading which also includes the above-mentioned. Your position size or sizes should not total more than 2% max risk of your account or your profits will be subject to removal. This is not a casino and gambling-type trading is not permitted here.
You will get a warning the first time with possible removal of your profits on the first violation and a reduction in leverage.
On the second violation, your account will be disabled until your leverage is reduced on your account once again.
On the third violation, your account will be terminated for gambling.
We maintain these restrictions to uphold a fair and transparent simulated trading environment.
Disclaimer:
All content published and distributed by MyFunded Capital LTD; SeacrestFunded; and its affiliates (collectively, the “Company”) is to be treated as general information only. None of the information provided by the Company or contained herein is intended as investment advice, an offer to buy or a solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any future contract, security, company, or leveraged instruments. Leveraged products such as CFD’s and FX trading are complex instruments with a high risk of losing money. The information on the website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. Copyright (c) 2023-2024. All right Reserved. MyFunded Capital LTD.