To complete our evaluation and receive the virtually funded SwiftTrader account (please see Do I trade real money on provided accounts? for details on how Fintokei manages the funds) and Performance reward from it, you must successfully pass one evaluation phase.
In this phase, your goal is to make 10% profit while avoiding suffering a daily loss of over 3% and a Maximum loss of over 6%. Please note both of these rules apply and are monitored in parallel, and breaching any of them results in failing the particular SwiftTrader Challenge phase account or Virtually Funded SwiftTrader account.
There are a few other rules that make sure that only diligent traders pass the challenge phase. Before you start, make sure to check the verification rules in detail.
It is also important to follow the rule of maximum risk on open trades. Breaking this rule does not lead to losing account, but it triggers warning or eventually Consistency rules application.
Once you complete your profit target, check that you also have the required amount of 5 trading days. A definition of trading days is available HERE.
If your profit and 5 trading days requirements are complete, make sure to close all open trades. Only once the trades are closed and you are in the required % profit, can the phase be considered as passed.
As soon as you pass the evaluation phase, we will contact you through email and set up the SwiftTrader virtually funded account. We will ask you to verify your identity using an automated system and send you a contract. Available payout on the virtually funded account will be unlocked after reaching the Minimum profit for payout that. must be reached for every payout.
In order for the account to remain active, you must fulfill the condition of at least 1 trade per 30 days on the account.