The Funded Trader Monthly Competitions | April 2024

Forex_Captain
Mar 22, 2024

The Funded Trader Competitions

The Funded Trader, a prop firm platform, hosts monthly free trading competitions with a substantial prize pool of over $10,000 in cash and $7.475 million worth of virtual funded challenge accounts. These competitions are designed for traders to showcase their skills, compete for cash prizes, and potentially earn funded trading accounts.


How to Join The Funded Trader Competition:

Participating in The Funded Trader Competition is a simple process in 3 steps:

1. Visit The Funded Trader registration page.

2. Log in to the dashboard, tap "Free Competition," click "Upcoming Competition," and participate.

- After participation, you will receive an email with your MT5 trading account ID and password.

3. Log in to your MetaTrader terminal, where you'll find the trading account automatically credited with a virtual fund of USD 100,000, enabling you to start trading on the competition start date next month.

- During the live competition, achieving at least 25%+ profit makes traders eligible for a $10K Free royal challenge account after the competition ends.

- All participants who pass and achieve a ranking in the competition receive a 100% discount code, applicable to challenge account purchases.


Prize Rewards:

Prizes are distributed based on ranking positions. refer to the ranking details below:


bonus $10k Dragon Challenge

Additionally, there is a bonus of a $10k Dragon Challenge for anyone achieving over 25%+ profit in the Competition Account, even if they are outside the top 150 ranks.

Competition Rules:

Participants must adhere to the competition rules, including a 5% Max Daily Drawdown, a 10% Max Total Drawdown, and a requirement to meet 5 Minimum Trading Days. February 

Profit Withdrawal Conditions:

Profit withdrawal conditions vary based on the type of funded challenge account received. Traders need to achieve a specific profit target and maintain daily and total drawdown limits.

For example, if a trader receives a 25k phase 2 Knight Challenge account, they must achieve a 20% profit target and maintain a 3% daily drawdown and 6% max total drawdown.

After completing both phases, traders receive a Live sim $25k Funded Account with profit withdrawal conditions, including a profit split of 85%-95%.

Traders can request a profit payout 7 days after the first trade.


Additional Points to Consider:

- EAs are not allowed.

- No taking advantage of unrealistic fills in the demo environment.

- Daily Drawdown is calculated based on the higher of Balance or Equity.

- Lot size rules apply for different asset classes.

- Only one account per person is permitted.

- The competition starts on the first day and ends on the last day of the month.


Conclusion:

The Funded Trader provides an enticing opportunity for traders to engage in free trading competitions, offering a platform for learning and earning without risk. Traders should thoroughly understand and agree to the terms and conditions before participating.

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