GENERAL TERMS OF USE
These XLtrade General Terms of Use (the “GTU”) govern your rights and obligations in connection with the use of services provided by XLtrade (the “Services”), offered mainly through the www.xltrade.net website (the “Website”). Please read this GTU carefully. You are under no obligation to use the Services if you do not agree or understand any portion of these Terms, nor should you use the Services unless you understand and agree to these Terms.
INTRODUCTORY PROVISIONS
This GTU govern your (“you”, “your”, or the “User”) rights and obligations in connection with the use of the Services provided by XLtrade which is operated by Chimara Ltd (“we”, “our”, or the “Provider”).
By registering on the Website or, where registration is not required, not later than by your first use of the Services, you are entering into a contract with the Provider, the subject of which is the provision of the Services of your choice. The GTU form an integral part of such a contract and, by executing the contract with the Provider, you express your agreement to this GTU.
The Services are only intended for persons over the age of 18 residing in the country for which the Services are available. By registering on the Website, you confirm that you are over 18 years of age. If you are under 18 years of age, you may not use the Services. You undertake to access the Services solely from one of the countries for which the Services are available. You acknowledge that your access to and use of the Services may be restricted or prohibited by law in some countries, and you undertake to only access and use the Services in accordance with applicable laws.
ACKNOWLEDGEMENT AND AGREEMENT
By using the services offered by XLtrade by using our website www.xltrade.net, the user agrees that we and any other entities associated with XLtrade shall not be held liable for any direct, indirect, consequential loss or any damages whatsoever arising from this usage, or the use of any information, signals, messages, education, and any other information contained or disseminated in regard to its use and understanding. Use this site and the services offered by XLtrade at your own risk. Neither guarantee of performance results nor any anticipated return on investment is offered at any time. Past performance is no guarantee of future results. None of the information provided by XLtrade constitutes a solicitation to trade Forex or buy or sell any Forex contracts.
By using the XLtrade website and other services provided, you agree not to hold XLtrade or any of its affiliates, partners, or subsidiaries liable for decisions that are based on information contained in blog posts, reader responses to blog posts, or information anywhere else on their website or in promotional material.
Notwithstanding any other agreement or other communications between XLtrade and users or potential users to the contrary, receiving or using any material provided by XLtrade or accessing or using XLtrade's website, at any time and through any means, whether directly or indirectly, represents acknowledgement and agreement by such person of the foregoing terms of the General Disclaimer and Terms and Conditions.
GENERAL DISCLAIMER
All information and material provided by XLtrade is for educational purposes only and should not be considered as specific investment advice. XLtrade is not providing this information as advice, nor are we providing this information based on or tailored to your specific circumstance or trading activity. The information that we provide or that is derived from our website should not be a substitute for advice from your financial or investment advisor(s).
RISK DISCLOSURE STATEMENT, DISCLAIMER, AND INDEMNIFICATION
By continuing to access or use www.xltrade.net, or any product or service provided by XLtrade, you signify YOUR
ACCEPTANCE OF THESE GENERAL TERMS OF USE.
This brief statement does not disclose all the risks and other significant aspects of trading in leveraged investments. Considering the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk. You should carefully consider whether trading is appropriate for you, with careful consideration paid to your experience, objectives, financial resources, and other circumstances. Never trade with money you cannot afford to lose.
I. Risks associated with FOREX TRADING
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency. Investments in foreign exchange speculation may also be susceptible to sharp rises and fall as the relevant market values fluctuate. The leveraged nature of Forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. Not only may investors get back less than they invested, but in the case of higher risk strategies, investors may lose the entirety of their investment. It is for this reason that when speculating in such markets it is advisable to use only risk capital.
II. Risk Disclaimer for Forex Trading
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial markets and foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with financial markets and foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
III. Benefits and Risks of Leverage
Leverage affords traders the ability to enter a position worth many times the account value with a relatively small amount of money. This leverage can work with you as well as against you. Even though the Financial and Forex market offers traders the ability to use a high degree of leverage, trading with high leverage may increase the losses suffered. Please use caution when using leverage in trading or investing.
IV. Electronic Trading Risks
Before you engage in transactions using an electronic system, you should carefully review the rules and regulations of the exchanges offering the system and/or listing the instruments you intend to trade. Online trading has inherent risk due to system response and access times that may vary due to market conditions, system performance, and other factors. You should understand these and additional risks before trading.
V. Market Opinions
Any opinions, news, research, analyses, prices, or other information offered by XLtrade, is provided as general market commentary and does not constitute investment advice. XLtrade will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
GENERAL TERMS OF USE
All materials, tools and ancillary content purchased will be delivered in digital form.
All content on www.xltrade.net and content communicated in email correspondence, webinars, seminars, or other events, is intended for educational purposes only and should not be considered as investment advice, nor should it be construed as a replacement for investment advice from qualified financial advisors. Xltrade and its affiliated companies, its directors, management, traders, instructors, and coaches will not be held responsible for any losses incurred by the user.
All information provided by www.xltrade.net and its contractors are general advice and the user will use to apply this general advice and trade at their own risk.
While our trade ideas, from our wider understanding of and experience from trading the financial markets, hold merit, they do not guarantee success or profit and you should not undertake the act of trading them unless you are fully aware of risk management and how to place an order with the broker correctly.
Users should understand that past performance is not indicative of future results and that the value of investments and income from them may go up as well as down and are not guaranteed.
You may lose the entire amount invested. With some leveraged investments such as spread bets and CFDs, your losses may potentially be unlimited.
INTELLECTUAL PROPERTY AND PROPRIETARY INFORMATION
You acknowledge and understand that XLtrade has invested a substantial amount of time and effort, and has incurred substantial costs, in developing its Proprietary Information. XLtrade's Proprietary Information is not in the public domain and reasonable steps are continuously taken to ensure that this Proprietary Information remains secret. The term “Proprietary Information” shall mean trade secrets, confidential knowledge, data, or any other proprietary information of XLtrade. By way of illustration but not limitation, “Proprietary Information” includes trade secrets, inventions, ideas, patterns, processes, formulas, trading methods, source and object codes, data, programs, compilations, written training course materials, know-how, improvements, discoveries, publications, developments, educational courses, designs and techniques, information regarding plans for research, development, new products, marketing and selling materials and methods, business plans, budgets and unpublished financial statements, licenses, methods of operations, prices and costs, business practices, customer sources and lists, and suppliers. XLtrade derives economic value, both actual and potential, from not having its Proprietary Information generally known or ascertainable by other persons who can obtain economic value from its unauthorized disclosure or use. Such Proprietary Information may not be used, reproduced, or disclosed to any other parties for any other purpose without the expressed written permission of XLtrade. Specifically, you agree that you shall not for any reason, at any time, without the written consent of XLtrade, disclose to any person or entity any of XLtrade's Proprietary Information.
INTELLECTUAL PROPERTY
www.xltrade.net, including but not limited to text, content, photographs, video, audio and graphics, and goods (the “Service”), is protected by copyrights, trademarks, service marks, international treaties, and/or other proprietary rights. The Service is also protected as a collective work or completion under International copyright and other laws and treaties. All individual articles, columns and other elements making up the Service are also copyrighted works.
ACCURACY OF INFORMATION
The content on this website is subject to change at any time without notice and is provided for the sole purpose of assisting users to make independent decisions regarding their interest in XLtrade's products and the Financial and Forex market. XLtrade has taken reasonable measures to ensure the accuracy of the information on this website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website or distributed through other means. There are no explicit or implicit warranties of accuracy or timeliness made by XLtrade or its affiliates.
These same provisions apply to any and all educational products and services, trading systems, indicators, tools, publications, blog posts, opinion pieces, or any other material provided in connection with the same.
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DISCLAIMER OF WARRANTY
ANY AND ALL INFORMATION PROVIDED BY XLTRADE OR DERIVED FROM XLTRADE'S WEBSITES IS PROVIDED “AS IS” AND XLTRADE MAKES NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
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DISTRIBUTION
This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to on this website is available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of their own country of residence and comply with any local law or regulation to which they are subject.
TESTIMONIALS
Testimonials found on this website, in any educational program, or any promotional materials, may or may not be representative of all reasonably comparable Users. Past performance is not indicative of future results or success.
The individuals quoted in the testimonials used were not paid to be quoted unless specifically identified. The testimonials used on this website are non-representative of all Users; certain accounts may have worse performance than that indicated. Individual results vary and no representation is being made that Users will or are likely to achieve profits or incur losses comparable to those that may be shown.
THIRD-PARTY
Any links provided or referenced to other websites are offered as a matter of convenience and in no way are meant to imply that XLtrade endorses, sponsors, promotes, or is affiliated with the owners of or participants in those sites, or endorses or warrants any information contained on those sites unless expressly stated. XLtrade does not endorse, guarantee or warranty any third party products advertised on its site, in its promotional materials, or otherwise referenced in any information provided by XLtrade or derived from XLtrade's website, and XLtrade expressly disclaims any responsibility and accepts no liability with respect to such information and products.
OUR COMMITMENT TO RESPONSIBLE INTERNET USAGE
Users of this website must be at least (18) years of age and have the legal authority to accept the General Disclaimer and Terms and Conditions. XLtrade does not knowingly collect or solicit information from anyone under the age of 18. If you are under the age of 18, you should use this website only with the involvement of a parent or guardian and should not submit any personal information to us. If you are under the age of eighteen (18), your parent or legal guardian must be a counterparty to acceptance of all disclaimers, warranties, agreements, and terms and conditions. We do not solicit, collect, or maintain information at our website from those we know are under the age of thirteen (13). XLtrade is committed to safe and responsible internet usage.
ELECTRONIC COMMUNICATIONS POLICY
You agree and consent to receive electronically all communications, agreements, documents, notices, and disclosures (collectively, “Communications”) that are provided in connection with your experience with XLtrade and your use of our services.
Communications include but are not limited to:
Agreements and policies to which you agree (e.g., the XLtrade's General Terms of Use and the XLtrade's Privacy Policy), including updates to these agreements or policies;
Annual disclosures
Transaction receipts or confirmations; and
Any other information pertaining to our relationship with you or the product you purchased.
How to Withdraw Consent
You may withdraw your consent to receive communications electronically by writing to us at contact@xltrade.net.
If you fail to provide or if you withdraw your consent to receive communications electronically, XLtrade reserves the right to either deny, restrict or deactivate your access or charge you additional fees for paper copies.
Updating Your Contact Information
It is your responsibility to keep your primary email address up to date so that XLtrade communicate with you electronically. You understand and agree that if XLtrade sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic communications, XLtrade will be deemed to have provided the communication to you.
Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add XLtrade to your email address book so that you will be able to receive the communications we send to you.
You can update your primary email address or street address at any time by contacting XLtrade. If your email address becomes invalid such that electronic communications sent to you by XLtrade are returned, XLtrade may deem you to be inactive, and you will not be able to access any information until we receive a valid, working primary email address from you.
ADDRESS & GOVERNING LAW
Chimara Ltd, 124 City Road, EC1V 2NX London, UK. Company number: 8986533.
The company is governed by the laws of England and Wales.
XLTRADE FUNDING
Below the requirements and procedure are described to become a funded trader.
OVERVIEW
To become eligible for funding, the client (subsequently 'the trader') must pass an initial evaluation (evaluation period) where the trader must demonstrate profitable trading within particular risk measures.
The initial evaluation is divided into two performance cycles (phases). The minimum of a performance cycle is thirty (30) calendar days.
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During the evaluation, the trader must achieve a performance of ten percent (10%) in a cycle. The trader can reach the performance target without a time limit.
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The evaluation period can be shortened to thirty calendar days (one performance cycle) in the event a trader generates impeccable results.
EVALUATION​
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DURATION - MINIMUM ONE CYCLE
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PERFORMANCE TARGET - 10% | PER CYCLE
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PERFORMANCE CYCLE - 30 THIRTY CALENDAR DAYS
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STRATEGY RESTRICTION - NONE
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LOT SIZE RESTRICTIONS - NONE
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MAX. ACCOUNT DRAWDOWN - 10%
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WEEKLY DRAWDOWN - FIVE PERCENT | 5%
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OVERNIGHT POSITIONS - YES
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POSITIONS OVER THE WEEKEND - YES
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TRADING ON NEWS - YES
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EA TRADING - YES
DURATION
The duration of the XLTRADE evaluation is divided into two (2) performance cycles starting with the date trading has commenced.
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The evaluation can be finalized in one performance cycle (30 calendar days) if a trader generates impeccable results.
PERFORMANCE CYCLE
A performance cycle has no time limit but is subject to a minimum of thirty (30) calendar days.
A cycle starts at the date trading has commenced.
PERFORMANCE TARGET
A performance target of ten percent (10%) has to be achieved during each performance cycle.
MAXIMUM ACCOUNT DRAWDOWN | EVALUATION
At any time, the account balance must be maintained within a moderate risk range and must not drop below ten percent (10%) during each performance cycle. The assessment value for the maximum account drawdown is the start balance of each cycle.
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EXAMPLE (USD 500 000):
Start balance: The account balance or the realized/unrealized equity must not drop below USD 450 000.
MAXIMUM WEEKLY DRAWDOWN | EVALUATION
During the evaluation, the weekly drawdown level is five percent (5%) in the event the account grows.
EXAMPLE (USD 500 000):
If 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, midnight, PT, the assessment basis for the weekly drawdown level is
USD 520 000 (high watermark) and holds for the following week (drawdown level USD 494 000).
The assessment value (high watermark) adjusts accordingly each Friday, midnight, 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 weekly 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 ten percent (10%) during each performance cycle. The assessment value for the account drawdown is the start balance.
EXAMPLE: The account balance or the realized/unrealized equity must not drop below USD 450 000 based on the start balance (USD 500 000).
MAXIMUM WEEKLY DRAWDOWN | FUNDED ACCOUNT
The weekly drawdown on a funded account is five percent (5%).
OVERNIGHT POSITIONS
Open positions may be maintained overnight.
OVER WEEKEND POSITIONS
Open positions may be maintained over the weekend.
TRADING STRATEGY
There are no strategy restrictions. The trader may trade any style and utilize any EA as long as the risk parameters are maintained. However, before funding, any trading strategy will be reviewed and, at XLTRADE's sole discretion, a trading strategy may get rejected. HFT bots are not allowed.
MINIMUM TRADING DAYS
There are no minimum trading days during the evaluation, but a trader must demonstrate reasonable trading by placing trades evenly spread over the cycle.
INSTRUMENTS TRADED
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Equity Indices
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Stocks
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Forex
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Cryptos
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Metals
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Oil
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Commodities
TRADING PLATFORM & ACCOUNTS
During the evaluation and at funded status, the trader trades on the XLTRADE MetaTrader 5 platform.
All XLTRADE accounts operate on a simulated basis that reflects prevailing market conditions.
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
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the violation of the drawdown levels
An Evaluation account will be terminated if the account balance is below the start balance after thirty (30) calendar days from the date the trader has commenced 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, the trader trades on an evaluation account in the amount initially selected:
USD 50 000
USD 100 000
USD 500 000
USD 1 000 000
USD 5 000 000
FUNDED ACCOUNT
After the successful completion of the evaluation, the trader becomes eligible for funding and is entitled to weekly profit withdrawals in the event of success.
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MINIMUM PERFORMANCE - NONE
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PERFORMANCE CYCLE - WEEKLY
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PROFIT SHARE - 90%
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PROFIT PAYOUT - WEEKLY
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STRATEGY RESTRICTION - NONE
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LOT SIZE RESTRICTIONS - NONE
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ACCOUNT DRAWDOWN - 10%
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WEEKLY DRAWDOWN - 5%
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OVERNIGHT POSITIONS - YES
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TRADING ON NEWS - YES
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POSITIONS OVER THE WEEKEND - YES
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ACCOUNT INCREASE - 25% | THREE MONTHS
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SCALING - THREE STEP SCALING
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PROFIT SHARE
On a funded account, the trader is no longer bound to the 10% profit target.
A trader will receive a share of 90% of the profits generated during each performance cycle.
PROFIT WITHDRAWAL
The trader can request the payout of his/her profits each Friday, EOD. On a Withdrawal day, all open positions/orders must be closed/deleted.
PROFIT PAYOUT
The trader receives his/her account summary each Friday, EOD, GMT -4 (EDT/EST).
The payout is released within 24 hours once approved by XLTRADE.
The trader has the option to request the profit payout in full or in part.
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SETUP PROCEDURE – EVALUATION
The trader receives her/his personal
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ACCOUNT LOGIN DETAILS
immediately upon receipt of the setup fee.
SETUP PROCEDURE – FUNDED ACCOUNT
In the event, that the trader has passed the evaluation in compliance with the given performance and risk parameters, the trader receives the
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FUNDED ACCOUNT
being eligible for a profit share in the amount of
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NINETY PERCENT | 90%
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, the trader must meet the criteria during the evaluation as follows:
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Ten percent (10%) performance in a cycle during the evaluation (no time limit).
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Demonstration of proper risk management.
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Absence of any drawdown violation during the evaluation.
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The maximum account drawdown must not exceed five percent (5%).
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Evenly spread trades over each cycle (even if there are no minimum trading days).
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SCENARIOS - EVALUATION PERIOD
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At the end of the thirty (30) calendar days, the trader is not subject to a time limit to reach the performance target.
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In the event, that the trader does not achieve the profit target at any given time (minimum thirty (30) calendar days) during a performance cycle, the trader can request a new evaluation account.
For this, the account must be above the start balance. -
In the event, that the trader finalizes any given performance cycle during the evaluation process with negative results (below the start balance), the trader has the chance to restart the evaluation (the setup fee applies again).
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In the event a trader violates any drawdown level, the trader has the chance to repeat the evaluation (the setup fee applies again).
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SCENARIOS - FUNDED ACCOUNT
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In the event, that the trader achieves positive results, the trader is eligible for a weekly profit payout in the amount of ninety percent (90%) of the profits generated. The profit payout can be requested in full or in part.
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In the event the trader achieves negative results in any given week, the trader is not obliged to cover the losses.
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Any funded account will be terminated after three consecutive months of losses.
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In the event a trader violates the maximum account drawdown, the account(s) will be terminated with immediate effect.
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In the event a trader violates the weekly drawdown, the account(s) will be terminated with immediate effect.
REFUND OF SETUP FEE
In the event of positive results in the first month of trading on the funded account, the trader will receive a full refund of the setup fee.
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ACCOUNT TOP-UP
If the trader demonstrates profitable trading consistently on the funded account, the account increases by 25% every three months.
ACCOUNT SCALING
At funded status, the trader will receive an account increase as described below in the event of a ten percent (10%) performance based on the previous account balance. The account scaling is exclusively available with the XLTRADE Pro accounts ($ 1 MIO PRO, $ 500K PRO).
The trader is not bound by a time limit to achieve the performance target. A minimum of fifteen (15) trading must be maintained during the account scaling. If the trader opts for the account scaling plan, the account top-up does not apply.
$ 1 Mio Pro account | Scaling levels
$ 1,000,000 > $ 1,500,000 > $ 2,000,000 > $ 3,000,000
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$ 500K Pro account | Scaling levels
$ 500,000 > $ 800,000 > $ 1,000,000 > $ 1,500,000
CONFIDENTIAL INFORMATION
The communication in connection to XLTRADE Accounts (emails, messages, account statements, a.s.o.) is strictly confidential and must not be made public. XLTRADE reserves the right to take legal action in the event of non-compliance. Non-compliance shall be deemed to result in a penalty of $ 50,000.
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AGREEMENT
When the trader starts the evaluation or has received a funded account, the trader agrees and is bound
to the conditions above.
XLTRADE INSTANT FUNDED ACCOUNT
Below we describe the procedure of how to trade on an XLTRADE Instant Funded Account.
TRADING PLATFORM
Metatrader 5 (MT5).
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TRADABLE MARKETS
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Equity Indices
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Single Stocks
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Forex
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Cryptos
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Metals
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Oil
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Commodities
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RAW SPREADS
XLTRADE utilizes a raw spread model on all tradable instruments.
COMMISSIONS
No Commissions on all Account levels.
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ACCOUNT LEVERAGE
The trader may utilize a maximum leverage of 1:500.
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ACCOUNT LEVELS
XLTRADE provides instant funded accounts as below:
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$ 10,000
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$ 20,000
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$ 50,000
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$ 100,000
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Higher accounts on request
The trader may maximize his/her profit potential by exploiting the maximum leverage (1:500) based on the account balance.
​EXAMPLE
If the trader trades on a $ 100,000 Funded Account, the trader may exploit the maximum leverage based on the $ 100,000 Account.
FUNDED ACCOUNT
​The trader receives the Funded Account immediately once the setup fee is received.
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NUMBER OF ACCOUNTS
The trader may open and maintain accounts of any level without limits. However, XLTRADE at its sole discretion is entitled to limit the number of accounts of a trader or reject traders from account opening.
RELEVANT TIME ZONE
The relevant time zone for all trading is GMT.
FUNDED ACCOUNT SUMMARY
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PROFITS | 100%
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PROFIT PAYOUT | MONTHLY
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PROFIT ACCUMULATION | UNLIMITED
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STRATEGY RESTRICTION | NONE
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LOT SIZE RESTRICTIONS | NONE
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STOP-LOSS REQUIREMENT | NO
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EXPERT ADVISORS | YES
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ACCOUNT DRAWDOWN | 10%
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WEEKLY DRAWDOWN | 5%
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POSITIONS OVERNIGHT | YES
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POSITIONS OVER THE WEEKEND | YES
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TRADING ON NEWS EVENTS | YES
​PROFIT ACCUMULATION
​The profit accumulation on a Funded Account is unlimited.
​PROFIT SHARE
​The profit share on a Funded Account is one hundred percent (100%).
PROFIT WITHDRAWAL
The trader may request his/her profit withdrawal periodically every thirty (30) calendar days starting from the date the trader has commenced trading.
Withdrawals may be made via bank wire and Crypto. Upon withdrawal request, the trader will be asked to provide bank details or a Crypto link.
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The trader is required to submit the withdrawal request to XLTRADE three (3) business days before the Withdrawal Day.
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In the event, that the trader requests the withdrawal of his/her profits, all positions/orders must be closed/deleted on a Withdrawal Day. The withdrawal request may be rejected if the trader maintains open positions/orders on a Withdrawal Day.
To become eligible for a profit withdrawal, the contribution to the profits of a single position must not be more than twenty-five percent (25%), nor must the contribution to the profits be more than twenty-five percent (25%) in a single trading day.
A single losing trade must not account for more than three percent (3%) of the balance.
MINIMUM TRADING DAYS
To become eligible for profit withdrawal, a minimum of fifteen (15) trading days must be maintained in a performance period.
STRATEGY
There are no strategy restrictions. The trader may trade any style and utilize any EA as long as good risk management/contribution is in place. However, any trading strategy will be reviewed and, at XLTRADE's sole discretion, a trading account may get terminated in the event an unreasonable trading strategy is utilized. HFT bots are not allowed.
MAXIMUM ACCOUNT DRAWDOWN
The maximum account drawdown on a Funded Account is ten percent (10%) based on the start balance.
Example ($ 100,000)
If the start balance is $ 100,000, the balance or equity must not drop below $ 90,000.
Any violation of the Maximum Account Drawdown will result in the termination of the account.
WEEKLY DRAWDOWN
The Weekly Drawdown allowance is five percent (5%) based on the start balance and as the account grows each Friday, end of day (EOD).
EXAMPLE ($ 100,000 account balance)
If the account balance or equity (whatever is higher) grows to $ 105,000 (Example) and the balance sits at $ 105,000 (Example) on a Friday, midnight, PT, the assessment basis for the Weekly Drawdown level is $ 105,000 (Example, high watermark). This value holds for the following trading week. As a result, the balance or equity must not drop below $ 99,750 (Example (5%)) during the following trading week. The assessment value (high watermark) adjusts each Friday, midnight, PT. In the event, that the balance or equity drops below $ 105,000 (Example), the historically highest value (high watermark $ 105,000 (Example)) represents the assessment basis for the Weekly Drawdown. Any violation of the Weekly Drawdown will result in the termination of the account.
DEACTIVATION
​A Funded Account will be deactivated (terminated) in one or more of the following situations:
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The trader violates the maximum account drawdown.
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The trader violates the weekly drawdown levels.
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The trader has a maximum balance drawdown of more than five percent (5%).
​In any situation, the trader receives notifications by email.
TERMINATION
​In the event of account irregularities, legal/regulatory/technical issues, risk issues, inactivity, violation of the maximum account drawdown, the weekly drawdown level, or other issues, XLTRADE is entitled to terminate a Funded Account at any time. The trader acknowledges that XLTRADE is not obliged to provide detailed reasons for Account Termination.
ACCOUNT REVIEW
​Regularly, XLTRADE reviews active Funded Accounts regarding trading activities and risk exposure.
SETUP FEE - REFUND
If the trader demonstrates profitable trading over the period of three consecutive months starting from the date the trader has commenced trading, the setup fee will be refunded.
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CONFIDENTIAL INFORMATION
The communication in connection to XLTRADE Funded Accounts (emails, messages, account statements, a.s.o.) is strictly confidential and must not be made public. XLTRADE reserves the right to take legal action in the event of non-compliance. Non-compliance shall be deemed to result in a penalty of $ 50,000.
ACKNOWLEDGEMENT
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The trader is aware that he/she trades on capital provided by the company (funded account).
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The trader acknowledges that, even if there are no risk specifications, he/she trades the account on a reasonable risk level.
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The trader acknowledges that he/she is entitled to withdraw profits periodically every thirty (30) calendar days starting from the date the trader has commenced trading.
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The trader acknowledges that fees are non-refundable unless in the event of success.
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The trader acknowledges that any communication in connection to XLTRADE Funded Accounts must be kept strictly confidential.​
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AGREEMENT
By purchasing an account, the trader agrees and is bound to the above-mentioned conditions.