If you want to do prop firm myforexfunds is much better, 1200 drawdown cost $84,2400 drawdown cost $139, no monthly fee.
Hello! We do allow you to trade indices when you hit a $120k account with us. We also accept Profit withdrawal and monthly fee payments from Paypal. We are currently offering a referral discount on the monthly fee. For every trader that you recommend and get accepted into our program, we waive £35. If you have any more questions, I am happy to help
Hello, Audacity Capital provides an initial LIVE capital of $15k which doubles every time the trader hits the 10% target. We do not give demo accounts, evaluations, or challenges. The trader will be managing real money straight away.
Hello, Our traders mainly use the economic calendar on https://www.fxstreet.com/economic-calendar You can trade all major and minor pairs. We also allow traders to trade commodities and indices when they reach the stage 4: $120k account size
so to be clear 15k is real 15k and then the leverage is? so total nominal exposure one can take .. by the way since this involves OTC FX , which broker and in which jurisdiction?
Yes, Real $15k. Our leverage is 1:5. On the initial $15k account, the maximum lot size we allow is 0.5 cumulative. The size of your account and lot size doubles every time you hit the 10% target. So you can potentially get funded up to $480k with a maximum lot size of 16. We do not use a broker, we have a liquidity provider that allows you to pay no commissions or swaps, which is why we charge a £99 monthly fee.
They have 10% drawdown, so you still think it is real 15K? A real 15K does not have any drawdown rule. "No Loss Liability You have 10% Drawdown and you’re not liable to losses." https://www.audacitycapital.co.uk/
Ok thanks so 15k real x 5 = 75K notional , but you say Max lot size = 0.5 = 50K notional so what is cumulative lot size? Also with FX being OTC and only one liquidity provider.. is then not a Market making model meaning if more of your traders win the liquidity provider is going to loose! Where as if this was a true exchange there is less conflict of interest!
Sorry I am confused ,, the rep say it is real 15k you are doubting it? what is the logic ? COuld you please explain it will benefit all of us!
It is real money, but they have a drawdown rule(check their website) that if you lose 10% of 15K, you are done. That means they never give you more than 10% of 15K. Every prop firm has this drawdown rule: so you never get funds more than their drawdown, and they never risk more than drawdown. Every trader who takes prop firm challenge should understand this: No matter what is the amount they call that account, drawdown is the amount you get from them. If on a $100000 account, drawdown is $500, then you get $500, not $100000,because once you lose $500, you are out and need to purchase another challenge.