Generally speaking this service has no fees attached to it with no recurring fee of any kind.
We do however have to insure the slot allocated to each trader. We do this by buying swaps at a substantial cost to us. So if you fail the evaluation or verification stages and wish to repeat the process then we may ask you to cover these costs upfront.
we will pay you 50% of the profits you make on your account, every 30 days.
In certain circumstances optional settings, additional features, risk or management tasks may incur some costs.
To be completely transparent with you, Click here to see the Price-list for all items.
We are not a Broker and we do not deduct any Taxes or any other external fees in your name. You get what you have earned.
It is your responsibility to report the profits you make to your local authority and abide by their laws & tax regulations.
We can provide you with more detailed statements if needed upon request.
If you are a high risk trader (which can result in much greater returns),
we may be willing to extend your risk levels up to 10% per day and 20% total (based on the initial Capital).
But, you will have to pay an additional insurance fee (as a one time payment) for this to be considered. Also you will need to enrol again with the new settings to prove that you can handle it. The additional fee for this is between 300 - 700 SGD (depending on the Initial Capital).
If you fall into this category then this should first be discussed with our team but can be an option if you require it.
the Daily Loss Counter does reset every day at Midnight CEST (in about 6 hours 1 minute )
When you enrol for the evaluation you can choose another account size.
Also we are prepared to gradually increase your account providing you have consistent profits.
If you achieve flawless money management and risk management, you are good to go.
Generally speaking you should already have a solid trading track record that makes first contact with us a lot easier.
That is down to you and will depend upon your ability to trade consistently. We impose no upper limits on this figure.
you are supposed to demonstrate your abilities, so generally speaking both Evaluation and Verification can not be restarted!
if you however did not break any of the Trading rules, and your account balance is Equal or higher than the initial deposit. (meaning you just did not meet the profit targets)
our team will restart the Evaluation and assign you a new account free of charge.
NO the account parameters are based on absolute values.
so it's not a 5% drawdown but the cash value your equity can never go below.
If you have a higher balance during the month that does allow greater risks as the threshold is farther away.
Generally speaking, the imposed limits should NEVER be a issue in your trading,
but to make sure we do provide Downloads for Indicators, algo and ea (Expert Advisors) to keep you informed about this numbers
If you complete the Evaluation & the Verification with success you automatically become eligible for live trading. We will contact you and you will need to complete some documentation, but after that you are ready to go.
Pending Orders have to be removed !!
Open positions can be held open, if they are reasonably sized or the position is Hedged.
please note "REASONABLY SIZED" since this is about exposure only. not about how this trade may play out when markets do re-open. more details under "Real World Execution"
Protection of capital is top of your priorities, so a stoploss order is recommended, but we do not require you to do it. Any form of protection you may employ is fine.
You can if you wish but there is no requirement to do so. You can manage the account as you see fit as long as you maintain it within the parameters given.
Trading accounts have a "rollover" every 30 days after the account has been started. We will settle the deposit to your EnFoid Lenders Account on the following weekend after interest has been paid to your account.
The very same guarantee(s) you have when working with an other company. There is no difference, we will have a legally binding contract.
Failure to follow our Trading Rules or if we detect any abusive and/or Fraudulent behaviour concerning your account. If we decide to terminate our agreement without you breaking the rules, we will refund you any and all expenses that occurred to establish the contract in the first place.
Our risk management team is constantly watching accounts especially when they near limits set out in the Trading Rules. We may contact you in these instances. If you cross the limits then you are considered a risk to our capital and our systems will automatically close all of your positions and suspend your account.
Whilst we are actively invested in longer term opportunities we see great potential in the short term arena that is under resourced. Our CEO actively Day-Trades and recognises this missed opportunity to generate income and sees it as a win-win for all involved.
There are no risks to you!
the Company will pay for losses you may generate, and there is no requirement for you to cover any losses. Your only risk is the time you invest.
We are NOT a brokerage company, nor do we do any form of financial advice, so do not fall under the regulatory restrictions related to acceptance of clients from the USA or elsewhere.
In fact, lots of Prop Traders or full time traders do have a small company registered for tax and security. We encourage you to do so as well. You are however not allowed to re-sell the product/platform to any other clients.