• Singapore, 4 years 1 month ago
    Proprietary (Prop) Trading changes & updates

    We currently overhauling the Proprietary systems to provide a better experience to our Traders, and more stability overall.
    as a result, there will be a few changes applied to different parts of the systems and the way we do these things.

    All these changes will come into effect on March 31 2020 23:59 SGT

    Team Manager

    • Launch of the Team Manager v2.
      Team Leaders can access accounts they overview at a single page

    EnFoid Accounts

    • Traders with Option18 activated can opt-out the Proprietary profits by 25%, 50% or 75%.
      This means even with Option18 active, the profits are not locked for withdrawal within the month they are debited.

    Fast-Track Traders

    • We will be removing the 50% rule from the Evaluation and Verification Tests.
      you will qualify even if you have more losing than winning days.
    • the Weekend rule will be relaxed.
    • Account restart’s, however, will still require the 50% rule to be met.
    • The 50% rule still applies to Live accounts in order to discourage any form of “Revenge Trading”.
    • The EnFoid account must have at least 1% of the requested capital available when enrolling. (previously 0.8%)
    • The condition of the security deposit being released will now only apply to those who achieve a Live Account. (previously only passing of Verification was required).
      This means that the locked security deposit will now be available once the Live account is traded with profits (on the first Payday)

    Members/Traders having an account ID smaller than 612-5602 are exempt from this security deposit change.
    until 1 July 2020.

    Free Enrolment

    The success rate of free enrolled users is around 0.6% and this makes it very clear that most free users are not able to do what they thought.
    Generally, there is a desire for money with the belief in a different outcome using larger funds.

    We will be taking the following steps to help ensure that only the most suitable candidates have the opportunity to trade with us

    • We will confirm that you have enough experience with the selected trading platform, are able to navigate around it and understand how to place trades before taking the free test.
      Free Traders have to present some level of commitment, and this starts by being pro-active and figuring out the basics themselves.
    • The trader must accept that we do not provide education on the subject of trading or the general usage of the selected trading platform. These are subjects the individual should already be familiar with.
    • Free Traders using our systems will able to be pro-active and willing to perform their own research concerning the basics of trading using search engines or traditional media.
      Our support team is not a replacement for Google.   
    • Free Traders are expected to bring value to the online community in some form.
      This could be through sharing resources, knowledge or supporting other members.    
    • We will be restricting the Enrolment test to 1 attempt. If this is not passed then no account can be assigned.
    • If a free Trader breaks the Drawdown rules (daily and/or Maximum) more than once, funding and re-try will be denied. Fast-track is then the only route available to funding.
    • If a failed user attempts to enroll again using different credentials, fake names or any other untrue data we will decline to fund and pay the trader even if they completed the challenge.
    • If the community requirement is ignored we will stop providing any and all support to the trader and can refuse to fund.
    • You have to be a proactive community member, helping others in the challenge to become a good trader in order to get Free Enrolment!
      This is Non-negotiable! It’s important you understand this.

    bypassing this requirement is seen as an indication that the trader is just trying to bypass the Deposit requirement and cares little about paying forward.



    Original post on the SwingFish Blog