Frequently Asked
Questions
We’re here to help, please read the rules and FAQs below.
If you cannot find the answers you’re looking for please submit a ticket and our team will get back to you.
FAQs
Our drawdowns are calculated as a static value off the beginning capital deposited into your trading accounts and evaluations. For example if you have a $100,000 account your 6% permitted drawdown will remain at $94,000. If you trade the account to 5% in profit your maximum drawdown remains at $94,000.
Watch this video for explanation: https://youtu.be/N6NfQ9vKNYA?list=PLzxVgvESL1Wm357pPSQtJySFWmhc1QhTP
The maximum daily drawdown is calculated using the equity which resets and the end of the 24 hour trading day.
Watch this video for explanation:
https://www.youtube.com/watch?v=OLxestcitQ4&list=PLzxVgvESL1Wm357pPSQtJySFWmhc1QhTP&index=5
There are zero monthly 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 active trading days: An active trading day counts when a new trade is opened and not based on its duration. This requirement encourages consistent trading performance: Remember, we are looking to create long term trader success. Not the smash and grab trader”. After the first payout, we will be able to make bi-weekly payouts to traders
No. Absolutely not. No trader should be forced into making trades for arbitrary time limits. Traders should only trade when the strategy tells them to. We do request that a trade is placed at least every 30 days to keep the account active. Trading 0.01 buying and immediately selling would ensure there is no account breach.
Watch this video for explanation:
https://www.youtube.com/watch?v=FfpzaUVH0tQ&list=PLzxVgvESL1Wm357pPSQtJySFWmhc1
There is a minimum of 4 trading days in the evaluation phase. In the funded phase, 30 active trading days for ‘Day Traders’ is required. 20 active trading days for ‘Swing Traders’ defined as traders that hold positions for more than 2 days on a consistent basis.
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.
No. Copying the trades of other traders is not permitted. You can however use trade copiers to copy your own trades on other accounts you hold with The City Traders. It is essential to make sure you do not place identical trades simultaneously with other traders using our platform. Beware of third party signal providers. If we detect identical trades from other traders the account will be
suspended. EA’s are allowed , but we suggest using unique parameters to avoid a breach. Our servers are designed to spot these violations.
This is strictly prohibited. We actively discourage 3rd party services that ‘promise to pass prop assessments’ on behalf of traders. 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.
Yes. Absolutely so you can hang it proudly on your desk as a constant reminder of all your hardwork!
To request a withdrawal, please go to your dashboard and select the Withdrawal/ Profit Share option to request a withdrawal. Please ensure you have completed the Contractor agreement and KYC which should have been completed on passing the assessment phase. Our risk team will then evaluate your account to ensure there has not been a breach of our trading rules and conditions. Payouts will be made via Crypto Currency or bank Transfer.
The evaluation phase and the initial funded phase is traded in the simulated environment. Our broker runs all live simulated live accounts through a ‘bridge provider’ which sole aim to offer the exact same simulated condition as the live account. This means the exact same liquidity conditions that live accounts experience will be replicated in the simulated environment. The City Traders Ltd has zero influence related to slippage, execution times and fills. After the initial funded stage, if the trader is proving consistently successful after 4 months, The City Traders aims to fund the Live account with the broker on ‘margin’. This means that the exact account size will not necessarily be matched with the deposit held with the broker.
No. We operate at arm’s length with the broker. All market pricing and trade executions are provided by the broker and are not changed or modified by us.
Additionally, we do not mark up transaction costs established by the broker through adjusting bid-offer spreads, markups/markdowns, commission charges or swaps.
As regularly commented, our aim here at The City Traders is to create ‘career funded traders’ akin to being a ‘City Trader’. We therefore encourage growing the account and using the power of compounding. We cap monthly withdrawals to 5% on the first and secoond month of the profits.
You must be 18 years or older to join this site.
Due to regulatory conditions, we are unable to offer services with traders residing in the following countries: Cuba, Iran, North Korea, Myanmar, Russia (or the Crimea, Donetsk or Luhansk regions of Ukraine), Somalia and Syria.
The provision of services is not extended to individuals who appear on sanction lists, possess criminal records associated with financial crime, terrorism, or have been previously prohibited due to breach of contract, with no allowances.
US residents are able to purchase assessments by utilising the DX Trade platform.
Links to the DX Trade will automatically be set when you select ‘Yes’ to ‘Are you a US Citizen’ at the checkout.
The exact same assets will be available to all.
Click Here to see the list of instruments.
Yes, you are , with restrictions. We allow the use of EA’s and indicators including risk manager tools.
However, certain strategies are strictly prohibited in the funded stage:
-High-frequency trading (manually or using a bot)
-Hedge arbitrage trading
-Tick scalping
-Grid Trading
-Martingale
-One-sided betting
-Latency arbitrage trading
-Reverse arbitrage trading
-Copying trades from other traders
Any use of the aforementioned strategies will be considered a violation of the rules of The City Trader rules and your account will be terminated. Third party EA’s must be verified prior to using it on your live account.
No. The evaluation phase is for us to see if you can trade efficiently, manage risk, control emotions and to be overall consistent. We do not risk our capital during this evaluation phase so withdrawals are not permitted.
We are looking for a consistently profitable trader, if you think you have the skills and experience, you can apply for a $250,000. A history of trading result from our other funding accounts is required.
The City Traders are not tax advisors and therefore unable to comment on individual tax liabilities resulting from your trading. Our traders retain the sole responsibility for their tax affairs with their
relevant tax authority.
Yes. Payouts will only be made to persons in the name of the account that signed the KYC. Payments to bank accounts will only be made to such a name.
Yes, traders are allowed to trade news. However due diligence is encouraged. Forex in particular can experience increased volatility and wider spreads over high impact news events. We recommend stick risk management at all times.
Yes we do. Traders should be aware of the risks associated with weekend holding.
You are able to purchase assessments via Credit Card, debit cards and cryptocurrencies.
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 as long as each account is not of the same size.
We aim to process payouts as quickly as possible. Our average withdrawal processing time is within 1-4 business days. Bank transfers can take up to 14 days depending on receivers bank and location.
Yes. All Traders trading our assessments and funded accounts are encouraged to hang out in our trading community to share their experiences. https://mee6.xyz/i/8ffmvPJQu2
Our permitted leverage is 1:10
Watch this video for explanation:
https://www.youtube.com/watch?v=l25zfwEUbD8&list=PLzxVgvESL1Wm357pPSQtJySF
You must be at least 18 years of age, or the applicable minimum legal age in your country, to purchase an assessment.
