Pass our Gate Way Challenge
We Pay Your Prop
Duration
30 Trading Days
Minimum Time
Trade 10 days
Profit Target
10%
Daily Drawdown
5%
Overall Drawdown
10%
MyPropChoice is not a white label provider of The Funded Trader or any vendor on our website.
All Prop Firm account discounts are made possible by means of a preliminary evaluation administered by MyPropChoice.
Watch the video below to understand how MPC’s Gate Way Challenge works.
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Customer
FAQ
Information source The Funded Trader
Official Website
The Standard Challenge consists of a two-phased evaluation process where a trader has 35 calendar days from the date the first trade is taken to achieve a 10% profit target. The 35-day period ends at 5pm EST on the last day of this phase.
During the trading period, the trader must not hit the maximum daily drawdown of 6% equity at any time based on the initial balance of their account. The trader must also not hit the maximum total equity drawdown of 12% from the starting balance of the account. The trader must trade a minimum of 5 trading days during the allowed 35 calendar days.
After passing Phase 1, the trader then has 60 calendar days to pass Phase 2 of the challenge by achieving a 5% profit target while abiding by the same daily and maximum drawdown rules above in addition to trading a minimum of 5 additional trading days (that is, a minimum of 10 trading days). The 60-day period ends at 5pm EST on the last day of this phase.
Please also note that with Phase 2, traders will be trading live conditions.
Any violation of the rules above will result in the termination of your trading account and you will not be eligible to move forward in the program with that account. Traders are more than welcome to start over by joining the program with a new trading account.
Phase-1
If a trader ends Phase-1 of the Standard Challenge in profit without violating the maximum daily loss or total loss while satisfying the minimum required days, they will be eligible for a retry if they run out of time for Phase-1.
Phase-2
If a trader ends Phase-2 of the Standard Challenge in profit without violating the maximum daily loss or total loss while satisfying the minimum required days, they will be eligible for a retry if they run out of time. However, they will have to start back on Phase-1.
Traders are not eligible for retries under any other circumstances.
It is important to note that in leveraged trading, it is the responsibility of the trader to actively manage any open positions, and be mindful of the required margin level to maintain those positions at all times.
For all Challenge and Funded Accounts, our Margin Rules are as follows:
Margin Call level - 110%
Stop Out level - 100%
If you reach 110% you get a Margin Call and you will not be able to open any trades.
If you reach 100% Margin or below, a Stop Out will occur at which MetaTrader will start to close any open positions one by one, starting with the most unprofitable position.
To maintain and manage your margin levels, you may need to decrease the margin you are trading on by reducing the lot size of your positions. We highly recommend and encourage trader's to always user proper risk management, and utilize stop losses to make sure you avoid margin call on the account.
We allow trading of the instruments available on your trading platform. This typically includes forex, commodities, indices, and crypto. We also document these instruments on The Funded Trader Available Instruments sheet.
NOTE: Due to increased volatility in the crypto asset class, we have disabled crypto trading on the following accounts:
Eightcap Accounts: only Funded Accounts
***You are still free to trade crypto for Phase 1 & Phase 2 of challenges on Eightcap Accounts only***
Please note disabled trading for crypto is effective May 12th 2022 until further notice.
Which broker does TheFundedTrader use?
Currently offering all of The Funded Trader’s accounts are provided on EightCap.
They allow traders to use the MT4 (MetaTrader 4) platform.
Where is The Funded Trader Located?
14001 W HWY 29, Suite 102, Liberty Hill, TX 78642