Frequently Asked Questions (FAQs)
Here are some of the commonly asked questions and their answers. If you don’t find what you are looking for, contact us and we will help you further.
There is no catch. There are two reasons we are running free challenge as follows:
1 – We are not your typical prop firm. We are, in-fact, a software company that creates software for prop firms. By asking you to take our challenge, we benefit in multiple ways – first we get your help in testing / improving our software and secondly, we also get an opportunity to promote our software to future potential customers.
2 – We also work with a fund that is always looking for skilled traders. We hope to attract skilled traders that can potentially trade for the fund once they prove their skills.
- Audition fee: $0 (FREE)
- Account type: Demo
- Your profit share: 5%
- Profit target: 10%
- Daily Loss Limit: 5%
- Max drawdown: 8%
- Hold over weekend: Allowed
- Expert Advisors: Allowed
- Max days to reach target: 30
- Min trading days: 10
- HFT – not allowed
- Max lots open at any given time cannot exceed 1.
We are a free and fun service. We rely on promotional offers we show from our partners and other referral income. In order for us to be successful and be able to provide a long-term service, we need your active participation in our community. In this regards, we require that you hold an active account in our FPC Community network, have at least 5 friends in your circle and have posted at least 5 messages in the community. This will be one of the eligibility criteria for payouts. We may add other criteria from time to time. Please check this page actively on regular basis.
If you successfully complete the challenge, we will pay you 10% of the profit made. For example – if you were to make 600 profit and complete the challenge, we will pay you 60 USD cash reward for your participation.
Note: in order to protect us against cash flow challenges, we will be capping the profit share to 75 USD per trader.
At any given time, you can hold only one active trading account in our challenge. However, you can apply again once your existing challenge is over. Also note that, once you have successfully completed a challenge, you cannot participate in the free challenge again. In that case, we will contact you to be part of a special traders group that may get other bebefits.
We use wise payments to pay out our members. You must have a valid wise account for the same. All payments will be initiated in US Dollar only.
Yes, daily and overall drawdown limits will include open trade equity. For example, if you have lost 10 dollars for the day and if you have additional -10 USD in negative open trade equity (OTE), your overall daily drawdown is counted as 20 USD. Same will be counted towards your overall drawdown limit.
We require you to create a free trader account at Coinexx (MT4 Only) – a demo account is needed. Your name must appear in our referrals list – otherwise the entry to this challenge will be restricted.
We have no direct relationship with the broker. We are simply their affiliate promoter. In other words, when you create an account with Coinexx (MT4 Only), you are signing up as our affiliate or referral with them.
You must create a demo account worth 5,000 (10K) initial balance and 1:100 leverage with Coinexx(MT4 Only) after creating your user account with them as our affiliate (use the affiliate link given on How it works section). Also make sure you create the account in USD base currency. Even if you create it in any other currency, our profit share will be paid out in USD only.
We don’t have any consistency rules but we will do manual audit of your trading activity before we approve your payment. If we find that you had employed any “unethical” means to reach the target, we reserve the rights to deny your payout. For example arbitrage trading is considered unethical. Also, if we find that you traded very big lots for the important news cycle and then traded very small lots just to meet the number of trading days, we consider this as “gambling” or “unethical” approach. This is just an example. We reserve the rights to deny any payouts if we find any similar approaches in your trading.
You can trade all or any symbols that the broker offers. We have no restrictions on that.
An account is marked as target reached when equity of the account crosses the pre-defined target percentage from the starting balance. Since the actual trading account may still remain open, the system will count only the balance when the equity has hit pre-defined target percentage. If the trader continues to trade in that account after the system has marked the account as “TARGET REACHED”, that delta trading activity is not considered for profit share calculations.
If you have already reached target on one account and successfully completed the challenge, you cannot create further accounts. Instead, we will contact you to be part of an exclusive group of traders where we can discuss further opportunities of funded accounts etc from other firms with you. Please contact us for that and we will provide details. However, once you have reached target once, you cannot continue with the free challenge anymore.
You can try up to 3 times.
Yes, if you successfully complete the challenge, we will consider you to trade full time for a USA-based fund. There will be additional scrutiny of your trading style and strategy. You must be able to trade within USA trading regulations. We will provide another USA-based demo account for you to further showcase you trading skills. Once you pass the additional scrutiny, you will be given a real money trading account and receive a profit split. The exact details of this arrangement will be worked out on case-by-case basis.
