Trading on behalf of our City Funding program requires good knowledge of the rules
How long does it take to get my Funded account?
We work with a company called Deel to issue trader agreements and process withdrawals of profits. Upon passing your Assessment, you will receive an email from Alicia from Deel email@example.com with instructions on how to access and complete your Trader Agreement. Once the agreement is completed and supporting Know Your Customer documents provided, your Funded account will be created, funded and issued to you typically within 24-48 business hours.
Once I pass will I be provided with real or a demo account?
Once you pass the Assessment, we provide you with a live account, funded with real capital.
What are the rules for the Funded account?
The rules for the Funded account are exactly the same as your Assessment account. However, with a Funded account, there is no cap on the profits you can generate.
If I have a hard breach in my live account and there are profits, do I forfeit those profits?
If you have profits in your Funded account at the time of a hard breach, you will still receive your portion of those profits. For example, if you have a $100,000 account and you grow that account to $110,000. Should you then have a hard breach we would close the account. Of the $10,000 in profits, you would be paid your 75% portion ($7,500).
How do I withdraw my profits?
When you are ready to withdraw your profits, please send an email to our support email address firstname.lastname@example.org with the amount you would like to withdraw. We will then post your profit share into your Deel account, which you can withdraw via any of the available methods they offer. (wire transfer, PayPal, Payoneer, Coinbase, Revolut, ACH and other popular methods)
When can withdraw profits from my funded account?
You can withdrawal your profits at any time, once per calendar month. At the time of any withdrawal request, we will also withdraw our share of the profits made, as well. Note that you can make your first withdrawal at any time from day one. Important Note: Once you request a withdrawal, your maximum trailing drawdown will remain at your starting balance and does NOT reset. This means that if you take a full withdrawal of your share of the profits made in your account, it will also serve as a hard breach of your account. So, for example, If you have a starting account of $100,000 and take this to $120,000 your maximum trailing drawdown would be locked at $100,000. If you withdraw the $20,000 profit, your account would be in hard breach as it would hit the maximum trailing drawdown of $100,000. If you were to withdraw $18,000 of the profit, your account would now be at $102,000, just $2,000 away from the max trailing drawdown. If however, you grow the account to $250, 000 and withdraw $100,000, thus leaving $150,000, it would still leave you a $50,000 buffer for your drawdown. This encourages equity growth and long-term success.
General Q and A
What products can I trade?
You can trade any products offered by EightCap. This includes FX pairs and CFD Indices, Metals, Equity Shares, and Cryptocurrencies.
What platform can I trade on?
Our risk management technology is currently integrated platforms offered by EightCap, including EightCap’s MT4 and MT5 platforms. These platforms, along with pricing and execution are provided by our broker, EightCap.
What are the trading hours?
Trading hours are set by EightCap. We do not have any control over the trading hours. You can see the trading hours for each product by right-clicking on any product in the Market Watch window of the MT4 or MT5 platform and selecting Specifications from the dropdown menu. Please note that holidays can have an impact on available trading hours.
Do the accounts charge commissions?
We use the RAW accounts from EightCap. These accounts have commission charges for Forex and Equity Share CFDs. The other products do not carry a commission.
Can I trade during the news events?
What is the permitted leverage?
In line with sound risk management practices, we allow up to 10:1 leverage. Forex, Metals, and Indices are 10:1. Equity Shares are 5:1. Cryptos are 2:1. You can purchase an extra add-on to your trading account that doubles the leverage on FX and Metals trades.
Can I use EXPERT ADVISORS?
EA's, Copy Traders, Scripts, and Indicators are all allowed.
What countries are accepted?
All countries, excluding OFAC listed countries, can take part in our program.
How many accounts/challenges am I allowed?
You are permitted to take 1 EVALUATION at a time. $2 million max per person (can be made up of multiple assessments, provided none are same size at the same time)