Prop Trading with FOREXer
We have revolutionized the way successful traders are discovered through our unique two-step Evaluation Process. This dynamic process includes the exciting Prop Trading Challenge and Verification, carefully designed to unearth your trading talents. As a pioneering forex prop firm, we enable traders to showcase their skills and gain substantial funding.
Upon successfully conquering the Evaluation Process, you'll gain access to a prop account with a generous balance of up to $200,000 USD. The journey may be filled with challenges, but fear not! Our educational tools, Account Analysis, and Performance Coaches are here to accompany you on your thrilling quest toward financial independence. Partnering with a prop firm like us allows you to focus on your trading strategies without risking your own capital, making it an ideal choice for aspiring professional traders.
Evaluation Process
We assess your trading abilities in the first two stages.
01.
FOREXer Real Challenge
The Real Challenge is the first step in the Evaluation Process. To move on to the Verification stage, you've got to prove your trading skills and show that you can stick to the Trading Objectives with discipline.
02.
FOREXer Verification
Verification is the final step on your journey to becoming a Prop Trader. If our evaluation team determines that the trader lacks a specific strategy, the evaluation phase may be repeated multiple times without any charges. After successfully completing the Verification stage and having your results confirmed, you'll receive the opportunity to move to the next step and trade on a Real Account. It's the last hurdle before you're in!
03.
FOREXer (Trader)
Withdraw Real Profits
As you transition into the role of a Successful Trader with your Prop Trading Account, remember to trade responsibly and consistently. You can earn up to 90% of your profits. Proof your consistent profit-making abilities on your Prop Trading Account, to expand your account through our Scaling Plan.
Understand Your Trading Goals
Before granting you the opportunity to trade with us, we must ensure your ability to handle risk. That's why we've established Trading Objectives. Meeting these objectives demonstrates your discipline and expertise as a trader.
Balance:
FOREXer
Real Challenge
Verification
FOREXer
By purchasing a GMPFA account, two accounts are created: a wallet account and a trading account. The wallet account is charged with an initial capital of $200,000 and is non-withdrawal. The trading account always has a tradable balance of $1000 and only the XAUUSD symbol can be traded on it.
This structure allows the trader to trade with only $1,000 of balance in the trading account with strict control of risk and capital, while the original capital remains in the wallet.
Maintaining peace of mind is essential for you to concentrate entirely on your trading performance. We aim to spare our traders from undue stress, and that's why there are no time constraints during the Trading Period. You have the freedom to take as much time as necessary to reach your Profit Target.
To achieve this goal, you should engage in trading for a minimum of four days within the current duration cycle. On each of these days, it's essential to open at least one position. A trading day is defined as any day when at least one trade is carried out. If a trade spans multiple days, we only count the day when the trade was initiated as the trading day.
This rule can also be referred to as the "trader's daily stop-loss." As per our regulations, this stop-loss is set at 5% (or 10% in the case of the Aggressive version) of the initial account balance. In essence, this rule stipulates that at any given moment during the day (CE(S)T = Central European (Summer) Time), the cumulative result of all closed positions, when added to the current open floating profits/losses, must not exceed the predetermined daily loss limit. The calculation formula is as follows:
Current daily loss = results of closed positions on the current day + result of open positions.
For instance, in an Prop trading Challenge with an initial account balance of $200,000, the Max Daily Loss limit stands at $10,000. So, if you incur $8,000 in losses from your closed trades, your account balance should not decrease by more than $2,000 on that day. Additionally, your open floating losses should not exceed -$2,000. This limit includes commissions and swaps.
Conversely, if you make a profit of $5,000 in a day, you can tolerate losses of up to $15,000, but not beyond that threshold. It's important to note that your Maximum Daily Loss takes into account your open trades as well. For instance, if you suffer $6,000 in losses from closed trades in a day and then open a new trade with a floating loss of around -$5,700, which eventually turns positive, it will still be too late. At one point, your daily loss exceeded -$11,700 in equity, surpassing the allowed limit of $10,000.
Keep in mind that the Maximum Daily Loss resets at midnight CE(S)T. For example, if one day you earn a profit of $4,000 and simultaneously hold an open position with a floating loss of $13,000, you won't violate the maximum daily loss on that day. The current daily loss would be $9,000 ($4,000 closed profit - $13,000 open position). However, if you still hold that position with a $13,000 open loss after midnight, you would exceed the daily loss limit. This is because your previous day's profit doesn't carry over to the new day, and the open loss of $13,000 surpasses the maximum daily permitted loss of $10,000.
The Maximum Daily Loss size provides traders with ample room for trading while ensuring a well-defined daily risk for investors. Both traders and investors benefit from this rule as it prevents the account value from dropping below the specified limit. This is why the Maximum Daily Loss limit encompasses potential floating losses as well.
This rule can also be referred to as the "account equity stop-loss." Throughout the account duration, the trading account's equity must never fall below 90% of the initial account balance. In the case of a prop trading challenge with a $100,000 balance, this means the lowest allowable account equity would be $90,000. Once again, this includes both closed and open positions (account equity, not balance). The calculation logic is akin to that of the Maximum Daily Loss; the key difference is that it applies not just to a single day but to the entire testing period. This limit encompasses commissions and swaps.
Having 10% of the initial account balance as a buffer offers traders the opportunity to demonstrate that their account is fit for investment. It acts as a safeguard, ensuring that traders can stay in the game even if they experience some initial losses. For investors, it provides assurance that the trader's account will never dip below 90% (or 80% in the case of the Aggressive version) of its value under any circumstances.
In Challenge and Verification stages, the Profit Target is defined as 10% (or 20% in the Aggressive version) of the initial balance. Meeting the profit target entails a trader achieving a profit equivalent to the sum of closed positions on the designated trading account at any point during the unlimited Trading Period. It's important to note that, in order to progress to the next phase, all positions must be closed. For instance, if you're participating in a prop trading challenge with a $100,000 account balance, your profit target would be $10,000 during the Challenge and the Verification stages.
In these accounts, transactions are executed as conditional orders. The maximum transaction volume is 1 lot, while the minimum is 0.1 lot. The profit-to-loss ratio for each transaction is set at a minimum of 2 to 1. Additionally, a mandatory (automatic) trailing stop loss ranging between $3.50 and $5 is implemented to manage risk and protect capital during transactions.
If the applicant completes the process of opening a prop account within 10 days after the initial request, the input fee paid for activating the challenge stage will be refunded to their trading account as a tradable amount (bonus).
- Transaction and Withdrawal Limits: The bonus is exclusively for trading purposes and cannot be withdrawn. Its sole purpose is to enhance the trader's trading power.
- Validity Period: The bonus is valid for one calendar month.
- Profit Withdrawal: Profits earned using the bonus can be withdrawn only after the bonus has been removed from the account.
- Abuse and Enforcement: If the bonus is abused (e.g., through arbitrage), the Forex Broker may cancel the bonus or suspend the account for review. Post-review actions may include fund recovery or account adjustments.
- Adjustments for Abuse: In cases of abuse, the Forex Broker will adjust the account balance to reflect the removal of the bonus and ensure fair trading practices.
The fee paid for the GMpFA account is non-refundable.
| FOREXer Challenge | ||||||
| Account Balance | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 | |
| Trading Period | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | |
| Minimum trading days | 4 days | 4 days | 4 days | 4 days | 4 days | |
| Maximum Daily Loss | $500 | $1,250 | $2,500 | $5,000 | $10,000 | |
| Maximum Loss | $1,000 | $2,500 | $5,000 | $10,000 | $20,000 | |
| Profit Target | $1,000 | $2,500 | $5,000 | $10,000 | $20,000 | |
| Refundable Fee | $200 | $300 | $400 | $600 | $1,100 | |
*Remember: Feel free to try out the entire process in the demo account for free before moving on to the real challenge.
Evaluation & Advancement Criteria for Prop Traders
Beyond the fundamental guidelines, we distinguish traders based on adherence to the below criteria. Traders who meet or exceed the profit targets without exceeding loss limits in any stage, and who adhere to at least 5 of the below criteria, are eligible to advance to the next stage. Our rigorous approach aligns with the standards upheld by the best prop firms, ensuring that traders evolve into smart prop traders proficient in prop trading strategies. This culminates in achieving the status of a successful and smart prop trader, marking a significant milestone in trading proficiency and discipline.
- Maximum Loss to Average Win Ratio (ML/AW): Should be less than 1.
- Profit Factor: Must be greater than 2, indicating profitable trading.
- Winning Days to Losing Days Ratio (WD/LD): Greater than 1.
- Maximum Number of Trades: less than 15 trades per month. (less than 3 in a week)
- Market Direction and Trend: Trades must align with market trends for profitability.
- Trade on No More Than 3 Symbols: Focus is essential.
- Trade Maximum 2 Specific Days a Week: Encourages discipline.
- Winning Trade Percentage: Over 75% of trades should be profitable.
- Daily Loss Trades: Less than 2 per day.
Key Hightlights
All-Inclusive Account
Our All-Inclusive Account aligns seamlessly with all trading style and requirements. With the All-Inclusive Account, there are no limitations on holding positions over the weekend or trading during macroeconomic announcements.
Scaling Plan
Our goal is to foster lasting business partnerships. If you can maintain consistency and profitability, we will boost your Prop Trading Account balance by 25% every 4 months as part of the Scaling Plan.
Free Trial
If you remain uncertain, you have the opportunity to experience the entire process at absolutely no cost. The Free Trial account mirrors our Challenge in terms of trading conditions but in a more condensed format.
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Payment System
While the standard payout ratio for all Prop Traders stands at 80:20, we're flexible and open to more. Recognized as a leading forex prop firm, we offer opportunities akin to those provided by the best prop firms.
A successful FOREXer who earns a profit of at least 10% of their trading balance is eligible to take steps to receive their profit. As a smart prop trader, you can request payouts at any time, which are processed just 14 days after success. Additionally, you have the freedom to select your Profit Split Day (any day of the month), and you can adjust this up to three times. Ultimately, we ensure your withdrawal aligns with your preferred day.
In the event you meet the conditions of our Scaling Plan, your Account balance will not only increase by 25%, but the payout ratio will automatically escalate to an impressive 90:10! This flexibility and growth potential make our prop trading environment highly attractive to those seeking to excel in the field.
The most popular retail trading platform
As one of the best prop brokers, we offer our clients the best trading solution with our FOREXER5 accounts, powered by data feeds directly from our pool of prime liquidity providers. We aim to replicate real market conditions with super-raw spreads, very low commissions, and no markup on all demo trading accounts with virtual funds.
We're not just your typical Modern Prop Trading Firm.
Discover the advantages of partnering with FOREXer.
Account Evaluation
Upon establishing this project, we recognized the importance of providing our traders with an impartial assessment of their trading outcomes. Why? Regardless of whether a trader is a novice or an expert, an alternative perspective holds immense value. For numerous traders, trading can be a solitary endeavor, and often, even those closest to you may not grasp the extent of your actions on the computer for extended hours.
Customer Support
Engaging with traders is of utmost importance to us. We aim to provide support not only during the journey to becoming a smart prop trader but also thereafter. Our skilled Customer Support experts are readily available to assist you through email, phone, or live chat. We offer multilingual support in many international languages, and our Customer Support is recognized as one of the top performers in the industry.
FOREXer Academy
Knowledge is the key. Our complimentary academy was established to offer fundamental and advanced learning to all, recognizing the vital role education plays in your trading triumphs. In each segment of the Academy, various incentives await your progression, keeping you inspired in your learning and ultimately aiding you to navigate your trading path more smoothly. Don't hesitate, get started now.
Please note that your performance in the Free Trial or any external trading history doesn't determine your eligibility for an Real Account. Our Evaluation Process is specifically designed to assess your trading skills and grant access to the Prop Trading Account.
In recognition of its exceptional services and commitment to prop trading, oue brokerage has been selected as the best prop trading broker of 2024 by ProFX. This accolade underscores our status as a leading forex prop firm among the best prop firms globally. With a strong emphasis on providing an optimal trading environment, our brokerage continues to set the standard in prop trading by offering unparalleled resources and support to its clients.
Upon passing the Verification phase, you may be considered for the role of a Prop Trader , pending review of your trading activities. To formalize a Prop Trading Account agreement, submit identification documents and complete the required process. Finalization of the contract depends on adherence to our internal procedures.
Once you've met all 4 Trading Objectives and your trades are checked, you can move on to the next step right away. So, in total, you can start using your Real Account after just 8 trading days.
In about 1-2 business days, we'll give you the new login details for the Verification stage.
To clarify, the accounts provided to clients are simulated accounts with virtual funds. Upon becoming a FOREXer, you'll receive access to one of these simulated accounts. You're eligible to retain up to 90% of the profits generated on this account.
If you want to trade with more money, you can do another Challenge. Each challenge has to start from scratch, even if you've passed one before. You can't have more than $400,000 in total across all your Accounts at once. For example, you could have two accounts with $200k each, or four accounts with $100k each. But be careful not to sign up for multiple accounts. If we find out you're using the same trading strategies across different accounts and it adds up to more than $400,000, we might suspend those accounts.
On the other hand, if you're consistently making money on your Account, we might give you even more money to trade with. We call this our Scaling Plan.
