XLTRADE CONDITIONS | 500k lite

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XLTRADE  FUNDING

Below we describe the requirements and procedure to become a funded trader.
The first step every trader has to pass is the initial evaluation.

EVALUATION​

• DURATION  SIXTY CALENDAR DAYS | 60 | MINIMUM 30 DAYS 

• PERFORMANCE TARGET  TEN PERCENT | 10%

• PERFORMANCE CYCLE   THIRTY CALENDAR DAYS | 30

• STRATEGY RESTRICTION  NONE

• LOT SIZE RESTRICTIONS   NONE

• MAX. ACCOUNT DRAWDOWN  FIVE PERCENT | 5% 

• DAILY DRAWDOWN   NO LIMIT

• OVERNIGHT POSITIONS  YES

• POSITIONS OVER THE WEEKEND  YES

• EA TRADING  YES

 

DURATION
The duration of the evaluation period is sixty calendar days (60) starting with the date trading has commenced. The evaluation period is divided into two performance cycles of 30 calendar days each.

Example: The evaluation period ends on the 60th (30th) day after trading has commenced.

 

The evaluation period will be shortened to thirty calendar days (30) in the event a trader generates impeccable results.

PERFORMANCE TARGET
A performance target of 10% has to be achieved during each performance cycle. 
Example: If a trader starts trading on the 5th of a month, the target has to be achieved within 30 calendar days and the performance cycle ends on the 30th day of the following month.

 

PERFORMANCE CYCLE

A performance cycle is thirty calendar days starting periodically at the day trading has commenced.

Example: If a trader starts trading on the 5th of a month, the performance cycle starts on the 5th of

the month and ends on the 30th day of the following month.

 

MAXIMUM ACCOUNT DRAWDOWN | EVALUATION

At any time, the account balance must be maintained within a moderate risk range and must not drop below 5% during each performance cycle for the entire evaluation period. The high watermark for the account drawdown is the start balance and the realized/unrealized balance or equity (whatever is higher) each Friday at 12 pm, PT thereafter.

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EXAMPLE:

Start balance: The account balance or the realized/unrealized equity must not drop below the

USD 475 000 level based on the start balance (USD 500 000).

Account increase: In the event, the account grows (to USD 520 000 as an example) and the account balance or realized/unrealized equity sits at USD 520 000 on a Friday, 12 pm, PT, the assessment basis is

USD 520 000 (high watermark) and holds for the following week (drawdown level USD 494 000).

In the event, the account grows, the high watermark adjusts accordingly each Friday, 12 pm, PT.

In the event, that the account value drops below USD 520 000, the historically highest value

(high watermark USD 520 000) represents the assessment basis for the maximum drawdown.

 

MAXIMUM ACCOUNT DRAWDOWN | FUNDED ACCOUNT
At any time, the account balance must be maintained within a moderate risk range and must not drop below 5%.

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The assessment value for the account drawdown is the start balance.
 

EXAMPLE:

Start balance: The account balance or the realized/unrealized equity must not drop below the

USD 475,000 level based on the start balance (USD 500 000).

> THERE IS NO TRAILING DRAWDOWN ON A FUNDED ACCOUNT.

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MAXIMUM DAILY DRAWDOWN

There are no restrictions on the daily exposure, but a trader is required to maintain a moderate risk level

in order to avoid the maximum account drawdown during the trading week.

 

OVERNIGHT POSITIONS

Open positions may be maintained overnight.

 

OVER WEEKEND POSITIONS

Open positions may be maintained over the weekend.

 

STRATEGY RESTRICTIONS

There are no strategy restrictions. A trader may trade any style and/or utilize any EA as long as the risk parameters are maintained.

 

INSTRUMENTS TRADED

• Equity Indices

• Stocks

• Forex

• Cryptos

• Metals

• Oil

• Commodities

 

TRADING PLATFORM

During the evaluation and the funded level, a trader trades on the XLTRADE MetaTrader platform.

 

RELEVANT TIME ZONE

The relevant time zone for all trading is GMT -4  (EDT/EST).

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TERMINATION

Any account will be terminated in the event of

• the maximum account drawdown

• failure to commence trading
   

In the event of termination, the evaluation may be repeated. The assessment fee (setup fee) applies again.

At any time, XLTRADE is entitled to terminate any account. In such an event, all profits accumulated on a funded account (if any) will be paid to the trader.

 

NUMBER OF ACCOUNTS

A trader is allowed to combine up to five evaluation accounts at one registration. The accounts may be managed simultaneously by using a trade copier implemented by the trader. On request, XLTRADE merges all accounts into one single account at funded status.

 

EVALUATION ACCOUNT

During the evaluation period, a trader trades on an evaluation account in the amount of

USD 500 000 exclusively set up for the trader.

 

FUNDED ACCOUNT
After the successful completion of the evaluation, the trader becomes eligible for funding in the amount of USD 500 000 and is entitled to a profit payout in the event of success.

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• MINIMUM PERFORMANCE   NONE

• PERFORMANCE CYCLE   THIRTY CALENDAR DAYS | 30

• PROFIT SHARE   NINETY PERCENT | 90%

• PROFIT PAYOUT  WEEKLY | IN FULL OR IN PART

• STRATEGY RESTRICTION  NONE

• LOT SIZE RESTRICTIONS   NONE

• ACCOUNT DRAWDOWN  FIVE PERCENT | 5%

• DAILY DRAWDOWN   NONE

• OVERNIGHT POSITIONS  YES

• POSITIONS OVER THE WEEKEND  YES

• ACCOUNT INCREASE  25% | PER THREE MONTHS

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PROFIT SHARE

After the evaluation period, a trader is no longer bound to the 10 % profit target.

The trader will receive a share of 90% of the profits generated during each performance cycle.

 

PROFIT PAYOUT

The trader receives his/her account summary each Friday, EOD, GMT -4 (EDT/EST).

XLTRADE releases the payout within 24 hours once approved and requested by the trader.  

A trader has the option to request the profit payout in full or in part.

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SETUP PROCEDURE – EVALUATION

Upon successful payment of the setup fee, the trader receives the link for the

• EVALUATION ACCOUNT

implemented on the MetaTrader platform provided by XLTRADE.
 

The trader receives her/his personal

•  ACCOUNT LOGIN DETAILS 

immediately upon receipt of the setup fee.
 

Upon receipt of the account login details,  the trader is required to commence trading within seven calendar days in order to avoid termination.

SETUP PROCEDURE – FUNDED ACCOUNT

In the event, a trader has passed the evaluation in compliance with the given performance and risk parameters, the trader receives a

• USD 500 000 FUNDED ACCOUNT

being eligible for a profit share in the amount of

• NINETY PERCENT | 90%

after each performance cycle in the event of positive returns.

 

> A funded account is no longer bound to the 10% profit target.

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FUNDING CRITERIA
To achieve funded status, a trader must meet the criteria during the Evaluation as follows:

• Ten percent (10%) Performance in a cycle during the Evaluation

• Absence of any drawdown violation during the Evaluation

• Five percent (5%) maximum account drawdown over the period

• Evenly spread trades over each cycle (even if there are no minimum trading days)

 

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SCENARIOS - EVALUATION PERIOD

• In the event, a trader does not achieve the profit target at any given performance cycle during the evaluation period, the trader has the chance to start the evaluation again (the trader receives a free repeat (no fees apply)).

• In the event, a trader finalizes any given performance cycle during the evaluation process with negative results, the trader has the chance to restart the evaluation (the setup fee applies again).

• In the event a trader hits the maximum account drawdown, the trader has the chance to repeat the evaluation (the setup fee applies again).

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SCENARIOS - FUNDED ACCOUNT

• In the event, a trader achieves positive results at any given week, the trader is eligible for a weekly profit payout in the amount of ninety percent (90%) of the achieved profits.

• In the event a trader achieves negative results in any given week, the trader is not obliged to cover the losses.

• Any funded account will be terminated after three consecutive months of losses.

• In the event a trader hits the maximum account drawdown, any account will be terminated with immediate effect.
  
  > THERE IS NO TRAILING DRAWDOWN ON A FUNDED ACCOUNT.

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REFUND OF SETUP FEE
In the event of a 10% profit generation in the first month of trading on the funded account, a trader will receive a full refund of the setup fee.

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ACCOUNT INCREASE | TOP-UP

If a trader demonstrates profitable trading on a consistent basis on the funded account, the account increases by 25% every three months.

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AGREEMENT

When a trader starts the evaluation or has received a funded account, the trader agrees and is bound

to the conditions above.