Growth
FXGM has developed a unique 2 & 3 step evaluation course for Forex Traders. This evaluation process consists of the FXGM evaluation and the verification and is specifically tailored to discover trading talents.
Upon successful completion of the evaluation course, you are offered a placement with FXGM where you can remotely manage the FXGM Account with a balance of up to $2,000,000 USD.
Stage 1: The FXGM Challenge is the first stage of the 3 step evaluation that is built based on consistency, by collecting a longer period of data we can analyse and study how we can improve and develop a deeper understanding how you trade. Our aim is to turn retail traders into institutional traders with our support and backing, we always reward our traders for this reason we have lowered our fees.
Stage 2: The FXGM Evaluation is the fast track process of the evaluation process. Starting from here means your only doing a 2 step evaluation and you need to succeed here to advance into the Verification stage. Prove your trading skills and discipline in observing the trading objectives. Before we allow you to trade for our Firm, we need to be sure that you can manage risk. For this reason, we developed trading objectives. By meeting the trading objectives, you prove that you are a disciplined and experienced trader. Your trading style is entirely up to you.
Stage 3: The Verification is the second and final step to gain access to our funded accounts. This is to ensure consistency and to consolidate a traders strategy.
Stage 4: All traders start with a $100K trading book once they pass the verification, regardless of their background, experience, or track record. We give all our traders an equal opportunity to prove themselves as profitable traders. Traders need to make 10% growing the account to $110k to qualify for larger capital or withdraw profits.
Stage 5: If you can make a 10% return on your $100K trading book – growing your account to $110k, we will top up your account by $200k.
Stage 6: If you can make a 10% return on your $200K trading book – growing your account to $220k, we will top up your account by $400k.
Stage 7: If you can make a 10% return on your $400K trading book – growing your account to $440k, we will top up your account by $1M. A net balance of $1M. Traders are required to make 10% of $1M whilst also maintaining previous profits, growing the account to a net of $1.1M. Once this is achieved, traders will be given a $1.5 million account.
Stage 8: Congratulations, you’re at the top. A profit split of 50/50 applies throughout. Exceptional traders will be evaluated for further capital and up to 80% profit split. You can withdraw at any time. However, if you withdraw any part of the growth amounts retained along the way your account will be rolled back to the lower levels. Therefore, you may withdraw your share of the retained profit at any point of this path, however, you will not be able to grow further without reaching the net figures for each stage.
Trading Terms
Max Exposure
The maximum allowance of lots summarised by all open positions, regardless of the trade direction (Long or Short). Exceeding the max exposure value, will automatically disqualify the trader, and cause the final termination of the evaluation account. Any position at a profit with SL above profit (minus commissions
and swap charges), may be ignored in calculating the max exposure.
- Traders must not exceed maximum lot size of 0.10 lots at any given time on the $5K.
- Traders must not exceed maximum lot size of 0.20 lots at any given time on the $10K.
- Traders must not exceed maximum lot size of 0.50 lots at any given time on the $25K.
- Traders must not exceed maximum lot size of 10 lots at any given time on the $50K.
- Traders must not exceed maximum lot size of 20 lots at any given time on the $100K.
- Traders must not exceed maximum lot Size of 40 lots at any given time on the $200K.
- Traders must not exceed maximum lot Size of 80 lots at any given time on the $400K.
- Traders must not exceed maximum lot Size of 200 lots at any given time on the $1 Million.
- Traders must not exceed maximum lot Size of 300 lots at any given time on the $1.5Million.
- Traders must not exceed maximum lot Size of 400 lots at any given time on the $2 Million.
Max Drawdown
The maximum drawdown allowance in the account. A Drawdown (DD) is the maximum change of balance value between the balance peak value and the trough balance value. It includes closed and open orders. Exceeding the Max Drawdown limitation, will disqualify the trader and cause the final termination of the evaluation account. 10% drawdown is based on $100K, $200K, $400K, $1M, $1.5M and $2M. If the trader hits 10% drawdown, FXGM will terminate access to the account.
Spread commissions
Major and Minor Forex pairs – $7 per lot
Metals – $7 per lot
Crypto – 0.5%
Indices – 0.0004%
Stocks – 0.2%
How are daily loss and positive days calculated?
Traders will need to choose between having a 50% positive days or 5% the daily loss as a rule on their evaluation. Positive day rule only applies on the evaluation stage and not on our funded accounts. Once your on a funded account a 5% review will be be applied and feedback will be given by risk desk.
Daily loss formula: Current daily loss = results of closed positions of this day + result of open positions.
Positive days formula = balance on each day > 0 net of swap and commissions.
Over Night & Over Weekend Trading.
No restrictions on trades, however, swap charges will be incurred.
News Events
No restrictions on the timing of entries in relation to the timing of news releases.
Trading Instruments
Major/minor forex pairs, gold, oil, indices*, crypto* and stocks*
Strategy Limits
EA’s and Trade Copiers are allowed. Ea’s are required to follow the lot size cap rule and must not be grid or martingale. Ea’s are allowed to use virtual/hidden stop losses.
Martingale and over leveraging trading strategies are not allowed.
Multiple trades placed at the same price and time will not be allowed, unless they are placed with at least a 5 pip difference.
Withdrawals
If you withdraw any part of the growth amounts retained along the way your account will be rolled back to the lower levels. Therefore, you may withdraw your share of the retained profit at any point of this path, however you will not be able to grow further without reaching the net figures for each stage.
Withdrawals are Bi-weekly which will be processed on the 14th and 25th of each month.
Losses
Traders are not liable for any losses occurred on the funded account this will be covered by FXGM
