First of all, it is recommended to read the ,,How to start" FAQ collection in case this is something new for you.
To complete our evaluation and receive the Virtually funded StartTrader 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 three phases.
In each phase, your goal is to make 2% (1st Phase), 3% (2nd Phase) and 6% (Phase 3) profit while avoiding suffering a Daily Loss limit of over 3% and a Max Loss Limit of *6%. Please note both of these drawdown rules apply and are monitored in parallel, and breaching any of them results in failing the particular StartTrader Challenge phase account or Virtually Funded StartTrader account.
There are a few other rules that make sure that only diligent traders pass the evaluation phase. Before you start, make sure to check the verification rules in detail.
There are so called consistency rules applied by default on all accounts of StartTrader - there is a maximum daily profit monitored for each Challenge phase:
Phase 1: max 40% of your Profit Target can come from 1 day
Phase 2: max 40% of your Profit Target can come from 1 day
Phase 3: max 40% of your Profit Target can come from 1 day
*Virtually Funded Phase: max 1% of profit calculated from the starting balance can come from 1 day
For more information about the working process of maximum daily profit please read this FAQs.
Once you complete your profit target, check that you also have the required amount of trading days. A trading day is a day where at least one trade was opened.
If your profit and minimum 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 third phase, we will contact you and set up the StartTrader Virtually Funded account. We will ask you to verify your identity using an automated system and send you a contract for becoming a professional trader.
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.
Also keep in mind that you have a maximum of 180 days for each Phase (Phase 1, Phase 2, Phase 3). Once you get your StartTrader Virtually funded account, there is no time limit.
In order for the account to remain active, you must fulfill the condition of at least 1 trade per 30 days on the account.