FREQUENTLY ASKED QUESTIONS
We are with you every step. We have a team of experts available 24/7 to help you gain all the clarity you need and for you to achieve real results. While you wait why not check our FAQ section for all your queries in one place?
If you have further unanswered questions, contact support department and we’ll get back to you promptly.
Email: [email protected]
Our drawdowns are calculated as a static value off the beginning capital deposited into your trading accounts and evaluations
Currently we run a 2 phase evaluation program and as such there are no ongoing fees.
We are partnered with Eightcap as our broker to offer industry leading spreads and commissions for traders. To understand their account offering that we use see here: https://www.eightcap.com/en/trading/trading-conditions/spreads/
Once you become a live funded trader, you must trade with us for at least 30 days for your first payout, and after that we can payout bi-weekly
Yes, we give traders 30 days for phase 1 and 30 days for phase 2 to pass the evaluation.
There are no profit targets required to be reached on the live funded account. However, the account must end in a positive balance at the end of the 30 day trading period to make a withdrawal.
However, certain strategies are strictly prohibited in the funded stage:
– High-frequency trading (manually or using a bot)
-Hedge arbitrage trading
-Latency arbitrage trading
-Reverse arbitrage trading
-Copying trades from other traders
Third-party EA must be verified prior to using it on your live account.
The purpose of the evaluation is for us to make sure that you are a consistent trader without any capital risk. As our evaluation is set up to test your trading without risking capital, you cannot withdraw profits on this phase.
Social Trading Club Funding was founded by experienced traders and liquidity risk managers. We see $200.000 as an optimal maximum amount of capital before excess levels of slippage and poor trade conditions not suited to retail traders will set in.
We classify our live traders as independent contractors. As such you invoice us for your earnings and must report this yourself to your relevant tax authority.
Yes, as we are on the lookout for individual traders and often make payouts to bank account for our live traders. As such accounts must be created in your own name.
No, we do not allow News trading at Social Trading Club Funding. We define news trading as any trade opened or closed within 10 mins before or 10 mins after any major high impact news event.
If a trade is opened outside of this window, you can leave the trade open subject to the position not being closed within 10 minutes before/after news.
High impact News events are classified as any “red folder” in the Forex Factory calendar. https://www.forexfactory.com/calendar/.
Yes our program allows for weekend and overnight holding of trades.
Trade with ASIC regulated Eightcap’s platform
We do not allow for account merging due to risk management and tracking purposes. You can however have up to three challenges at one time totalling a maximum of USD 600k in funding.
As we are evaluating the trading of individuals you are solely responsible for your account login details. If you share account passwords with others it will violate our terms and conditions and as such it is not permitted.