The Forex Funder offers monthly trading competitions as an outstanding opportunity for traders to participate in challenging contests and win significant prizes. These competitions are open to all traders, providing a free platform for enhancing trading skills and winning rewards. All traders are invited to join in these monthly events.
The rules for participating in The Forex Funder's competitions are as follows:
Single Account Policy: Each trader is allowed only one account, associated with a unique email and IP address. Creating multiple accounts will lead to immediate disqualification.
5% Virtual Maximum Daily Drawdown: The daily loss is capped at 5% of the initial account balance. For example, a $100k demo account has a $5k maximum daily drawdown, calculated from the higher of the initial virtual balance or simulated equity at 5 p.m. EST.
10% Virtual Maximum Total Drawdown: The total loss limit is set at 10% of the initial demo account balance.
Minimum Trading Days: Participants must engage in at least 5 simulated trading days.
Demo Environment: Exploitation of unrealistic fills in the demo environment is prohibited.
No Expert Advisors: The use of automated trading systems (EA's) is not allowed.
Swing Trading: Holding positions for several days is permitted
News Trading: Trading based on economic news is allowed.
Lot Size and Leverage
Lot Size: A maximum of 5 lots can be traded across all active trades/assets.
Leverage: Following the March Competition, we have adjusted our leverage settings from 1:100 to 1:10. This change was implemented in response to a significant amount of fraudulent activity related to the maximum 5 lots rule. Our priority is to ensure a fair and secure trading environment for all participants, and this adjustment is a step towards achieving that goal.
Traders will be disqualified from the competition for inactivity if their account remains dormant for more than 14 days. Disqualified participants cannot engage in the ongoing competition but are welcome to join the competitions in the following months.
Registration for the monthly competitions requires creating a profile on theforexfunder.com. After registration, traders should go to the user dashboard, find the "Competitions" section, and click "register" to join the competition.
By adhering to these rules and guidelines, traders can enjoy a fair and competitive experience, improving their trading skills and vying for rewards in The Forex Funder's monthly trading competitions.