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FAQ: Instant Funding
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Instant Funding
Instant Funded Accounts
1. Do I need to complete KYC or sign a trader contract to start trading in an Instant Funding Plan?
A Trading contract and KYC are both required, however to start trading using our Instant Funding Plan, these steps won’t need to be completed until you request.
2. What happens if I do not pass KYC?
If you fail to pass the KYC process when requesting a withdrawal, the withdrawal will be rejected, your gains forfeited, and your account closed. We strongly encourage you to ensure you meet KYC requirements before choosing the Instant Funding Plan.
3. How do I withdraw the gains in my Instant Funded Account?
Traders can request a withdrawal of the profits in their funded account through their trader dashboard at any time. However, withdrawals are limited to one request every 30 days. The minimum withdrawal amount is the greater of $100 or 1% of the account's starting balance. When a withdrawal is approved, we willalso withdraw our share of the gains, and your max trailing drawdown will lock in at your starting balance. The trailing drawdown does not reset when you requesta withdrawal. Example: You have taken an account from $100,000 to $120,000. You then request a withdrawal of $16,000. In this scenario, you will receive$12,000 and we would retain $4,000. This would also take the balance of the account down to $104,000, and your Maximum Trailing Drawdown is locked in at$100,000. So, you would have $4,000 maximum you could lose on the account before it would violate the Maximum Trailing Drawdown rule. If you take a fullwithdrawal of the gains in your Funded Account, the Maximum Trailing Drawdown will lock in at the starting balance and trigger the Maximum Trailing Drawdownbreach rule, resulting in the forfeiture of your Funded Account.
4. If I have a hard breach in my Funded Account and there are gains in the account, do I forfeit those gains?
If you have gains in your funded account at the time of a hard breach, you can still request the withdrawal of your portion of those gains.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 gains in your funded account, you would be paid your portion thereof.
5. Am I subject to any position limits?
The maximum position that you may open is generally determined by your available margin.We reserve the right to increase the margin requirement, limit the max order size or limit the number of open positions you may enter or maintain in the FundedAccount at any time, and to revise in response to market conditions the drawdown levels at which trading in the Funded Account will be halted. We or the liquidityprovider(s) reserve the right to refuse to accept any order.
6. Do we manipulate the pricing or executions you receive inyour Funded Account?
No. We do not have any control over pricing from the liquidity provider(s) or on the executions on your trades.
7. Who is the counterparty to my trades?
For purposes of managing risk and minimizing transaction costs, we may offset or negate market risk and act as the direct counterparty to certain trades initiated in the Account. Such trades are executed at prices provided by arm’s length third parties. This framework is intended to ensure you receive real marketexecution on your trades, while simultaneously allowing us to manage risk dynamically by routing existing positions or future orders to third parties for executionas we deem appropriate. We believe that such real market execution and dynamic risk management would not be possible or as cost-effective if trades wereexecuted in simulated accounts. Regardless of whether we act as counterparty to your trades, the gain or loss on your funded account is not calculateddifferently. However, when we act as the counterparty to your trades, there is an inherent potential conflict of interest because your trades do not result in netgain or loss to us, as your trades would if we were not the direct counterparty.
