Frequently Asked Questions
Thank you for considering The Prop Trading your choice of Prop Firm.
In order to trade a funded account all traders are required to pass our Evaluation Program.
Select your preferred account size and sign-up for the Evaluation Program. After completing the program, you will be offered a funded account.
To be eligible for a funded account, traders are required to take part in our evaluation process trading on a demo account on Metatrader5. You will receive your account parameters including profit target and loss limits according to the account size you have chosen.
Check Profit Target and Loss limits for details.
What is the Program duration?
Your Evaluation Program begins when you are sent out the account login details, unless advised otherwise. If you wish to start at a later date please let us know immediately after receiving login credentials.
Our evaluation program is divided into two steps. Step 1 traders have 30 calendar days to reach the profit targets and meet the funded account eligibility criteria, including minimum trading days. If the profit target in step 1 is reached and the criteria is met before 30 days, the trader may proceed to the next phase.
Step 2, traders have 60 calendar days to reach the profit targets and meet the funded account eligibility criteria, including minimum trading days. If the profit target is reached and the criteria is met before 60 days, the trader will become eligible for a funded account.
We offer 3 account sizes: 50K, 100K and 200K. The account size is the amount of capital allocated to your account balance. Your will be trading the same account balance for Evaluation step 1 and 2 and funded accounts.
Please check our scaling plan.
Leverage for all account sizes is 1:200
You can start trading a funded account as soon as you successfully complete the Evaluation Program. However, for each step 1 and step 2 of the Evaluation Program traders are required to trade at least 10 days. Please note, a position open and held over a number of days before closing will be counted as a single trading day.
We offer a free trial where you can trade under the same conditions as the real Evaluation for 14 days, and it is completely free. We encourage traders to familiarise themselves with the MT5 trading platform and put their skills to the test before applying for the real Evaluation Program.
Please note, your free trial account is not eligible for a funded account and neither will we consider your results performed on external trading platforms.
To request your Free Trial Account: https://theproptrading.com.au/my-account
Choose your Evaluation Program according to the amount of capital you want to trade. Greater account sizes give more flexibility to trade more lots, open more positions simultaneously and can potentially generate higher payouts.
Most importantly choose a program that best suits your strategy and experience.
You can sign up for multiple Evaluation Programs at the same time. Once you pass the Evaluation Programs and start trading the Funded accounts you can merge all your accounts into one up to 500K.
See EAs and Copy Trading.
You can trade news release. There are no restrictions or disqualifying rules regarding trading outside market hours or holding (*) over-the-weekend positions.
(*) You are not allowed to trade or hold Crypto currencies over-the-weekend. During Evaluation Program trading or holding Crypto currencies over the weekend is considered a violation to the rules, and your account will become ineligible for funding. If you violate the rules regarding trading or holding Crypto currencies over the weekend on funded phase your account will be ceased, and the Agreement will be terminated.
No. We are a Proprietary Trading Company.
We use The Brokers Capital – BRK Holdings – they provide MT5 platform with ultra-low spreads, no commission and fast execution. You can request a Free Trial account and test the platform.
No. We are responsible for the funding and liable for the losses in your trading account. Our traders will not be charged as a result of losing trades.
There is no specific timeframe to become a successful trader. We understand the importance of theoretical knowledge, but it is equally beneficial to put your expertise into practice. Trading professionally is a continuous learning career since the market is always evolving.
If you are confident with your strategy and consistent with your results we encourage you to apply.
EAs are allowed. Please note, even though we allow EAs you cannot trade multiple accounts connected via copier executing identical trades simultaneously. This would be easily identified by our risk management team and considered a violation to our rules. During Evaluation Program if you violate EAs rules your account will become ineligible for funding. If you violate EAs rules on funded phase your account will be ceased, and the Agreement will be terminated.
Copy trading is allowed from your own account to one of our Evaluation Program accounts. You cannot place the same trades manually or via copier on two or more accounts. After you pass Evaluation you can merge up to 500K into one account. This would be easily identified by our risk management team and considered a violation to our rules. During Evaluation Program if you violate copy trading rules your account will become ineligible for funding. If you violate copy trading rules on funded phase your account will be ceased, and the Agreement will be terminated.
The objective of our evaluation process is to assess your ability to make a profit, be consistent and maintain adequate risk management. Traders are not offered remuneration during or for simply completing the Evaluation Program.
Yes, if you have not violated the trading parameters on step 1 including maximum daily and total losses and your account equity is not below the initial balance you may be entitled to 2 Evaluation retakes after the initial attempt free of charge.
Please make your account review request for a retry directly on our website under “My Account”.
If you happen to violate the trading parameters on step 1 including maximum daily and total losses or your account equity is below the initial balance, you may apply again for another Evaluation Program.
If you have violated the trading parameters on step 1 including daily and total drawdowns within 7 days from the date you signed up, you may be entitled to one account reset at a discounted price.
Please make your request directly on our website on My Account under “Reset My Account”
Most Forex pair trading hours are 24 hours per day during the week. The market officially opens on Monday morning at 8 am AEST, local time in Sydney, Australia and closes on Friday afternoon at 4pm GMT-5, local time in New York. Check your local time zone.
Indices CFDs trading hours vary depending on the market you are trading.
Crypto CFDs follows Forex trading hours.
Yes, after you have successfully completed the Evaluation Program and proceeded to funded phase you will receive a refund of the initial fee (except reset fee) with your first monthly withdrawal.
Please check our refund policy.
Please refer to the list of instruments allowed to trade, over 50 Forex pairs including all majors, Metals, the top 10 Indices CFDs and the main Cryptos CFDs on MT5 platform. Please be advised that our brokers platform provides other instruments, however, when trading Evaluation or Funded accounts you are not allowed to trade any instruments except for the ones listed.
During Evaluation Program you must not trade any instruments except from the list above. If you trade non allowed instruments is a violation to the rules, and your account will become ineligible for funding. If you violate instruments allowed to trade on funded phase your account will be ceased, and the Agreement will be terminated.
Profit Target is your trading objective, if you achieve this result you are offered a funded account
Step 1: Reach 8% profit target within 30 days without violating any trading parameters.
Step 2: Reach 4% profit target within 60 days without violating any trading parameters.
Traders are remunerated 80% of the net profit share resulting from their trading activities.
Once you complete the Evaluation Programs and start trading the Funded accounts you can merge your accounts into one of up to 500K.
There is no limit to how much you can grow your account using the Scaling Plan and profits accumulated. We do not limit profitable traders, in fact we support your growth.
Max daily loss is based on 5% of the Initial account balance calculated by subtracting it from the account balance when the account resets. For instance, on a 200K Account the max daily loss is fixed $10.000.
Example using an $200,000 account:
Your daily loss is $10,000 and today you have already made $2,000 profit, so you only hit the daily loss if you lose $12,000 today.
The account equity must not hit/exceed the max daily loss throughout the day including unrealized positions. The starting point for the calculation of max daily limit is the reset time.
Max Daily loss
If our account equity hits or exceeds the Maximum Daily Loss including the floating positions at any time during a 24-hour cycle, the open trading positions will be closed, and your account will become ineligible for funding. If you violate max daily limit on funded phase your account will be ceased, and the Agreement will be terminated.
Max Daily Limit reset time is the standard 12:00AM (midnight) provided on the Metatrader Platform. Please note, time may vary according to Eastern European Summer Time (EEST). Please check your time zone. We recommend the use of the clock found on “Market Watch” (Ctrl+M) on your trading platform.
The maximum drawdown allowed in your account during the Evaluation Program is 10%.
Example using a $200,000 account. Max total loss is 10% of your initial balance = $20,000.
If you already have a profit of $ 10,000 accumulated during the trading period, you will only reach the max total loss if you accumulate a $ 30,000 loss.
Max Total loss
Your account equity including unrealized/floating positions must not decrease below 90% of your initial balance at any given time.
If your account equity hits or exceeds the Maximum Total Loss at any time including the floating/unrealised trades, the open positions will be closed, and your account will become ineligible for funding. If you violate maximum total loss on funded phase your account will be ceased, and the Agreement will be terminated.
If you have successfully completed phase 1 before the 30 days, please make your account review request directly on our website under “My Account”. This verification should take 24 hours and if successful you will automatically receive an email confirmation to begin phase 2.
If you have successfully completed phase 2 before the 60 days, Please make your account review request directly on our website under “My Account”. This final verification should take 24 hours and if successful you will automatically receive the Approval and the next steps to start trading a funded account.
Our Evaluation Program is run on a Metatrader5 demo account with live market data.
The Funded accounts are also on Metatrader5 demo, linked to our live corporate account via cutting-edge technology that copies your trades and enables us to capitalize on your ability to make profits.
Spreads from 0.5 Pip
No brokerage fees, no commissions.
During the Evaluation Program you can trade the maximum position size allowed by the margin available on your trading platform.
Once you complete Evaluation and progress to funded account, there is a temporary maximum lot exposure per instrument. For instance, the 50K account 2.5 lots, the 100K account 5.0 lots and the 200K account 10 lot. Please note, this limit is per instrument so you can still trade your max lot exposure with multiple instruments. After 3 months into the funded accounts The Prop Trading will have learned more about your trading style the max lot exposure per instrument will be removed.
For example, on 200K account you can open multiple 10 lots per instrument simultaneously such as 10 XAUUSD + 10 EURUSD +10 USDJPY + 10 NAS100 or any other instrument/pair of your preference. You may not trade lot sizes over the limit on the same pairs simultaneously.
Traders from any nationality or background are welcome to apply. There are no restrictions or pre-requisites for traders to be accepted into our program.
After the last trading session of every month you will receive an account profit/loss summary. Based on your results you may choose to make a partial or full profit share withdrawal or maintain the profits in your trading account to build up some equity and create a buffer for potential drawdowns.
Please note, If you choose not to withdraw your 80% Profit share The Prop Trading will also maintain our 20% profit share in your trading account for growth.
To be eligible for a payout on funded accounts, on the last trading day of each month all your positions must be flat at 12:00AM (midnight) Eastern European Summer Time (EEST) provided on Market Watch on your MetaTrader Platform. If your account has open/unrealized positions your floating balance will be rolled over to the next monthly cycle.
If you chose to withdraw, once we receive your confirmation the amount will be deducted from your account balance. You will be required to send as an invoice with the details of the withdrawal. The Payouts are processed on the 10th day via Bank wire and Paypal.
There is no minimum withdrawal required.
Accounts are reviewed for extra capital allocation every 3 months.
Your account equity must increase 6% in three consecutive months, or average monthly growth of 2%, and at least 2 out of these 3 months your account must close in profit.
Your account will be eligible for a 25% extra capital allocation, provided that at the time of the review, the current account balance is not below the initial balance and no withdrawal is made on the period.
Your account parameters will be adjusted in the same proportion to reflect the capital growth.
Yes, to reinforce our strong commitment to our traders success and long-lasting partnerships, The Prop Trading will refrain from withdrawing our 20% Profit Share every time the traders refrain from withdrawing their 80% Profit Share and help them grow their account balance faster.