What are the general trading hours?
Our trading assets FX, Metals, Commodities, Shares and Indices are all only quoted 24/5. Crypto is quoted 24/7. You can hold any positions over the weekend we offer no pricing, thus meaning you cannot open, close or modify any positions from Friday market close until Sunday market open.
What is the limit on the maximum number of accounts that are permitted?
There is no restriction on the number of challenges you can purchase, and you can participate in multiple challenges simultaneously. However, concerning active accounts running concurrently, each user is limited to a combined starting equity of up to a maximum of $600,000.
What is the maximum Leverage offered for trading?
FundsCap provides prop traders in the industry with a maximum of leverage 1:100. This leverage option allows traders to effectively enhance their trading capabilities while maintaining a practical approach to risk management. The leverage ratio offered empowers traders to strategically optimize their trading strategies and prudently capitalize on market opportunities.
Does my Trading Period commence when I initiate my first trade?
The trading period initiates with the execution of your first trade, rather than the activation of your account. Consequently, if you receive your account on a Saturday but execute your first trade on a Tuesday, your trading period will start on Tuesday, not Saturday.
What is the Maximum Daily Loss limit?
Traders are safeguarded from incurring losses surpassing 6% of their equity.
How the overall Drawdown works?
If you have an initial balance of $50,000, a 12% drawdown would amount to $6,000 . This implies that if the balance of your account drops below $44,000 at any point, it would be considered a violation of the overall drawdown rule.
How the Daily Loss is being calculated?
The constant value of the Maximum Daily Loss is 6%. For example, if a trader has a $100,000 account, his maximum daily loss would be $6,000 (6% of $100,000) on the first day.
It is important to note that our platform calculates the daily DD considering the current Equity in relation to the balance 24h ago and the equity includes both the realized and unrealized profit and loss (P&L) of the trader's open positions.
To illustrate, let's consider the same example of a trader with a $100,000 account. Let's say he incurred a loss of $1,500 at 2pm on the first day of trading, leaving him with a balance of $98,500 at the end of that day. The following day, the maximum daily loss limit would be $6,000 (6% of $100,000) until 2pm and after that time it would reset, allowing the trader to potentially lose up to $5,910 (6% of $98,500). ); because new the balance 24 hours ago is US$ 98,500.
It is important to adhere to this rule as violating it will result in an automatic failure of your challenge account. The same Daily Extraction rule applies to all three steps (Evaluation, Verification, and Funding) of each challenge.
Is there a possibility of receiving a second chance if I violate the trading rules?
In the event of a breach of any Trading Objectives, the associated account will be disabled, making it ineligible to proceed with the Evaluation steps. If the breach occurs on your FundsCap Account, the Agreement corresponding to that account shall be terminated. Should you desire to try again, you have the option to start anew by ordering a fresh FundsCap Challenge or reset your challenge immediately at discounted fees.
What is the Profit Target?
The Profit target for a Challenge is set at 8% of the initial balance, and in the Verification phase is 5%. The Profit target signifies that a trader needs to achieve a profit from the cumulative sum of closed positions on the assigned trading account.
Is the use of EAs and indicators permitted by FundsCap?
At FundsCap, traders are permitted to utilize Expert Advisors (EAs) and Indicators to enhance their trading strategies, provided that they do not violate our Responsible Trading Policy, contained in item 7 of the T&C. It is crucial for each trader to customize their trading parameters to align with their unique trading style and account requirements. This flexibility allows traders to optimize their trading approach and maximize their potential for success.
Am I allowed to trade from multiple IP locations?
FundsCap places a strong emphasis on maintaining a secure trading environment for all traders. To ensure smooth operations and avoid potential complications, it is generally recommended that traders utilize a single device with a unique IP address while engaging in trading activities on the FundsCap platform systems. This approach helps ensure a consistent and secure trading experience.