The time on our platform server is based on UTC (Coordinated Universal Time). The dashboard’s countdown
and 24-hour reset occur at 22:00 UTC, which corresponds to 23:00 CET (Central European Time) during
standard time.
Examples of Different Time Zones:
UTC (Coordinated Universal Time):
– Countdown/24-hour reset at 22:00 UTC.
CET (Central European Time):
– During standard time, the reset is at 23:00 CET.
– During daylight saving time (CEST, Central European Summer Time), the reset is at 00:00 CEST (midnight).
EET (Eastern European Time):
– During standard time, the reset is at 00:00 EET (midnight).
– During daylight saving time (EEST, Eastern European Summer Time), the reset is at 01:00 EEST.
EST (Eastern Standard Time):
– During standard time, the reset is at 17:00 EST.
– During daylight saving time (EDT, Eastern Daylight Time), the reset is at 18:00 EDT.
Summary:
Winter Time:
CET: 23:00
EET: 00:00
EST: 17:00
Summer Time:
CEST: 00:00 (midnight)
EEST: 01:00
EDT: 18:00
These settings are used to ensure that the closing of a daily bar corresponds to the New York trading closing
time (17:00 EST). This alignment helps provide consistency and clarity for all users regardless of their local time
zones.
Account rolling is a form of trading that closely resembles gambling. In this approach, traders purchase multiple
trading challenge programs, trade aggressively or recklessly, and hope to complete some of them. The idea is
that whenever they blow up an account through such aggressive or reckless trading, they can switch to another
and continue in the same manner, believing that eventually, their “strategy” will pay off, leading to a huge
profit.
Reasons We Do Not Accept Account Rolling:
Principles of Sensible Trading:
-Account rolling goes against the principles of sensible and responsible trading that we promote. It encourages
reckless behavior rather than thoughtful and strategic trading.
Quality of Trading Data:
It is very hard for us to utilize any trading data from such an approach. The data derived from aggressive and
reckless trading does not contribute to the development of robust trading strategies.
Integrity of the Trading Environment:
Although this technique does not slow down our servers or harm other traders, it undermines the integrity of
our trading environment. We aim to foster a community of traders who engage in responsible and
well-planned trading activities.
Our Commitment:
We are committed to maintaining a high standard of trading practices and ensuring that our platform supports
the growth and success of traders who adhere to sensible trading principles. This is why we have implemented
an anti-gambling policy and do not accept account rolling.
By adhering to these principles, we ensure a fair and productive trading environment for all our users.
Yes, we have an inactivity rule. If your account remains inactive for 29 days without a single trade placed, it will
be terminated. This rule is in place to ensure active engagement and efficient use of resources.
Details:
We encourage regular account activity to keep your account operational. Make sure to open or close at least
one trade every 29 days to keep your account active.
We incur significant running costs for account opening, account maintenance, and hosting users on our dashboard servers. Therefore, we ask our traders to remain active or to contact us if they need to pause their
accounts for reasons such as health problems, personal reasons, or technical issues.
Account Recovery:
If no contact is made and the account is terminated due to inactivity, it cannot be recovered unless the trader
pays a small fee to cover the associated costs.
We appreciate your understanding and cooperation in maintaining active engagement with your account.
Our risk department is dedicated to ensuring the integrity and security of our platform by thoroughly
investigating all our clients. We employ a combination of automated systems and manual reviews to monitor
and analyze various activities and behaviors.
Monitoring and Tracking:
Our automated system tracks all activities performed by our traders. This includes trading behavior, potential
trading cheating, risky practices, and prohibited practices.
We also monitor account sharing, IP sharing, IP activity, and device activity.
Compliance Checks:
We perform checks related to KYC (Know Your Customer) fraud, AML (Anti-Money Laundering) practices, and
detecting money mules.
These practices are standard in the financial industry and essential for adhering to strict KYC and AML
regulations.
Manual Review and Verification:
While the initial flagging is done automatically, our risk department manually reviews and confirms all flagged
activities.
We prioritize the presumption of honesty and engage with clients to gather additional information when
needed.
Decisions are made carefully, based on a comprehensive view and sufficient evidence.
Consequences of Fraudulent Activity:
Users caught cheating or committing fraud will face severe consequences, including account closure,
blacklisting from our services, and sharing of personal and activity details to relevant authorities.
Our commitment to maintaining a secure and compliant platform means we take these processes seriously to
protect our community and adhere to industry standards.
In our commitment to support our traders through every step of their journey, we’re excited to introduce an automatic and immediate Second Chance Account feature. This benefit is available once for each challenge purchased, at no additional cost to you! However, please note the following adjustments to the challenge limits:
- Two-Step Challenge Accounts:
- The daily loss limit will be adjusted from 5% to 3%. However, the total allowable drawdown will remain unchanged.
- One-Step Challenge Accounts:
- The total allowable drawdown will be adjusted from 8% to 6%. The daily loss limit will remain unchanged.
It’s important to note that these adjusted limits will apply not only to your Second Chance Account but will also continue through to the Elite Phase.
These changes are designed with your success in mind, aiming to provide additional opportunities while maintaining the integrity and sustainability of our trading community. We believe these adjustments will further support your trading strategy and risk management, enhancing your pathway to the Elite Phase.
In cases where we observe that a challenge has been passed through a very limited number of trades, which is often associated with a high risk of hedge trading between different proprietary firm accounts, or by utilizing trading strategies with not allowed Expert Advisors (EAs)—specifically, hidden EAs or high-frequency scalping EAs—we will transition the associated live account to an “evaluation” status. During this period, the leverage available to the trader will be reduced to 1:30. This measure is implemented to mitigate excessive gambling or risk to our company, as we are unable to replicate these trades on live accounts.
It’s important to note that when clients employ prohibited trading strategies, we directly close their accounts. However, when we find irregularities that don’t explicitly breach our rules but still present concerns, we adopt the evaluation approach.
A trader under evaluation is required to demonstrate consistent trading practices. Upon achieving this, and at the time of their third payout, the trader’s account will be reinstated to the normal leverage level. This policy is in place to ensure both the integrity of our trading environment and the safeguarding of our company’s interests.
Funded Elite is committed to transparency. There are absolutely no hidden rules when you join our program. Every essential detail you need to know can always be found right here in our FAQ section.
If you encounter technical issues, such as platform outages or data feed disruptions, please reach out
to our support team immediately. We will work to resolve the issue promptly and ensure it doesn’t
affect your challenge progress.
No, we do not impose a specific time limit on how long you can hold a trade in any of our programs. However, please note that excessively short holding times may be flagged as High-Frequency Trading (HFT) Ex- multiple trades under the 30 – 60 -120 -180 sec mark, which is strictly prohibited, depending on the trader account history and operation behavior.
While not mandatory, we strongly recommend using stop losses in the Sim environment. A stop loss helps safeguard your virtual capital, limits potential losses, and provides a predefined exit point. It’s a responsible risk management practice that promotes disciplined trading and long-term success.
