Introduction
We are committed to supporting our traders and providing them with the necessary tools to succeed in the market. That is why we welcome different trading approaches, including automated trading tools like EAs, Algos, or Bots. We understand that every trader has a unique trading style, and we encourage them to explore and experiment with various strategies.
However, it is important to keep in mind that our program has specific guidelines and restrictions that traders must adhere to when using automated tools. These guidelines are in place to ensure that all traders have an equal opportunity to succeed and that the trading environment is fair and equitable. Our team carefully monitors all trading activity to detect any potential violations of these guidelines.
It is also important to note that we have a zero-tolerance policy for any unethical trading practices, such as latency arbitrage, account arbitrage or any other forms of cheating. Such practices not only violate our guidelines, but they also undermine the integrity of the trading environment and can have a detrimental effect on other traders.
You have the freedom to open long and short positions simultaneously on the same market with our platform. However, engaging in 'grid trading' tactics, where you take opposite positions on multiple accounts, whether during an evaluation or live account, is considered cheating and strictly prohibited. The account(s) will be closed without a refund. For example, opening a long position for EURUSD on one account and a short position for EURUSD on another account would constitute opposite positions.
Detail on Trading Spreads, Commissions, etc.
We have partnered with ThinkMarkets as our broker to ensure that our trading costs are among the most competitive in the market. We understand that traders are always looking for ways to optimize their trading strategies, which is why we have taken steps to keep our fees low. We have eliminated the need for data fees, so you can focus on your trading without any additional costs. We offer RAW Forex Markets for MT4 and MT5, while all other markets are Standard.
For further information on ThinkMarket's specifications, do refer to the following link: https://www.thinkmarkets.com/uk/markets/contract-specifications/
Risk Management
Traders who successfully achieve their evaluation's profit target must undergo an assessment of their trades by our risk management team before being granted an Instant Funding account. If any evidence of non-compliance with proper trade risk management is found, we reserve the right to withhold the account.
Simply reaching the profit target by taking a limited number of trades at maximum leverage does not provide adequate evidence of proper risk management.
A trade can consist of multiple executions or similar entries on the same market held at the same time, rather than just a single trade execution on our platform.
While we generally give traders the benefit of the doubt, we have observed cases where individuals are willing to accept the loss of their evaluation fee and take on extreme over-leveraged trades to pass their evaluation phase quickly. Allowing such individuals to trade with real money would result in significant losses and diminish our ability to continue providing Instant Funding accounts to our successful traders.
Stacking
Opening large positions or large quantities consecutively on a single instrument, also known as "stacking". This can be considered a form of gambling, along with opening consecutive positions in profit or loss, especially when the initial position exceeds proper risk management limits. However, it's important to note that opening multiple positions on correlated instruments or currency pairs can still lead to over-leveraging, which is another form of gambling.
Instant Funding reserves the right to take action and breach a trader's account without a refund if we suspect that the trader is engaging in gambling behavior. However, we will only take this action after careful consideration and if the trader's behavior falls within certain prohibited categories.
Scaling in or diluting positions is a common strategy, but it must be managed effectively to avoid increased stress and mistakes. Traders must consider their Maximum Daily Loss objective to ensure responsible trading.
**It's worth mentioning that opening and closing trades within close proximity to each other is not prohibited. This is a popular method for traders to 'get around' trading, however, we do not allow this as it is still a form of layering, also known as stacking.**
Hedging
Martingale is where you have one position open, you open a position on the same instrument up to or the same size as the original position.
You have the freedom to open long and short positions simultaneously on the same market with our platform. However, engaging in tactics, where you take opposite positions on multiple accounts, whether during an evaluation or live account, is considered cheating and strictly prohibited. The account(s) will be closed without a refund.
For example, opening a long position for EURUSD on one account and a short position for EURUSD on another account would constitute opposite positions.
Example
If you open a 2 lot BUY on EURUSD, then up to 2 lot SELL on EURUSD, this is entirely allowed, hedging is a great way for traders to manage risk.
Martingale
Martingale is where you have one position open, you open a position on the same instrument in the opposite way that is larger than the original.
Example
If you open 2 lot BUY on EURUSD. Then you open a 4 lot SELL on EURUSD.
News Trading
You are allowed to trade any news events on your account throughout Phase-1 and Phase-2 of the challenge. However, if you intend to trade news events on Instant Funding accounts, you must be aware of the potential risks involved, such as slippage.
We will not adjust any positions that experience slippage as a result of your trading style. Therefore, it is your responsibility to evaluate the associated risks before engaging in such trades.
Copy Trading
Copy trading is allowed, however the trades must be yours. Copying it to one of our immediate accounts is acceptable however copying it to multiple instant accounts is not permitted.
Please keep in mind that we do not provide funding for multiple accounts that employ the same trading strategy, which we define as accounts that execute identical trades in the same market at almost the same time.
Do get in touch with our customer support if you have further inquiries!