FAQ
We’re here to help you.
Below are our most commonly asked questions. But if you need more assistance don’t hesitate to contact us
What brokers/liquidity providers do you use?
We utilize an aggregate source of pricing and liquidity from multiple brokers and liquidity providers. The current liquidity providers use a number of different tier 1 banks, prime brokers, market makers and other liquidity sources to derive their pricing, and those underlying liquidity providers change constantly. Aggregating liquidity providers while maintaining multiple sources of liquidity allows us to provide competitive pricing and execution, while reducing reliance on a sole liquidity provider.
All market pricing and trade executions are provided by the brokers, without any alterations or modifications on our part. Moreover, we do not adjust transaction costs such as bid-offer spreads, markups/markdowns or swaps beyond what is set by our brokers.
Please note that the composition of liquidity providers may vary depending on the trading platform.
Where do I track the progress of my account?
Upon purchasing an Instant Funding Plan, you will receive access to a trader dashboard where you can monitor your Instant Funded Account. The dashboard is updated in near real time as we calculate your account metrics. It is your responsibility to monitor your breach levels.
What products can I trade?
You can trade any products streamed by the Liquidity Provider into the available platforms, as such products may change from time to time. This includes FX pairs and CFD Indices, Commodities, Metals, and Cryptocurrencies.
What Platform can I trade on?
Our technology is currently integrated with DXtrade, MatchTrader & cTrader platforms via GooeyTrade.
How many Instant Instant Funded Accounts may I have active at one time?
A maximum of $190,000 in active Instant Funding plans per person is permitted, consisting of up to one of each plan size.
What is the leverage?
We offer up to 50:1 leverage on Forex and Metals, up to 10:1 leverage on Indices, up to 5:1 leverage on Oil and up to 2:1 leverage on Cryptocurrencies.
What are the trading hours?
Trading hours are generally set by the Liquidity Provider, unless set by our rules. We do not have any control over the trading hours. You can see the trading hours for each product by using the following methods:
DXtrade – Right click symbol, select “Instrument Info”
MatchTrader – Click symbol to expand, select “Info”
cTrader – Navigate to Symbol Window, scroll down to see “Market Hours” for selected symbol
How are affiliates credited?
Affiliates are credited for referrals when a user creates an account using a link or discount code provided by the Affiliate.
Do your accounts charge commissions?
Instant Funded Accounts receive the same pricing and commissions as charged by our Liquidity Provider to other, self-funded, retail trading accounts.
What is the minimum age I must be to be part of your program?
You must be at least 18 years of age, or the applicable minimum legal age in your country, to purchase an Instant Funding account.
How will I see the charge on my Statement?
How are taxes handled?
When trading a Funded Account for our firm, you are treated as an independent contractor. As a result, you are responsible for any and all taxes on your gains.
Can I use an Automated Strategy?
Subject to our policy on Prohibited Trading as described below, you can trade using an automated strategy.
What is the Instant Funding Plan?
The Instant Funding Plan allows traders to start with a fully funded account without needing to complete an assessment phase.
Am I trading on a real account?
FX2 traders receive a simulated account for trading. It’s crucial to understand that this account does not involve real funds, and trades are executed in a simulated environment using market quotes from liquidity providers. FX2 traders may never engage in actual transactions on live markets through their FX2 Accounts.
FX2 simultaneously operates its own independent trading activities utilizing real financial resources. During this process, FX2 may incorporate trading data obtained from FX2 Traders’ demo accounts, which is strictly for analytical purposes.
It goes without saying. that while FX2 traders do not have access to real funds or live accounts, they are of course eligible for a genuine financial reward based on the success of their simulated trades on the FX2 account, provided there is compliance with contractual conditions.
How do I request a payout and how are they processed?
A request can be easily made by clicking the request payout button in your dashboard. The minimum payout is 1% of your initial balance. Withdrawals are processed within 48 hours, with options for Crypto payouts or direct bank transfers via our partner, Rise.
You can create a Rise account here.
What are the trading commissions?
In cTrader, Forex and Metals trades are $4 per lot per round trip, while Indices, Energies, and Crypto trades are commission-free. In DXtrade, Forex and Metals trades are $7 per lot per round trip, while Indices, Energies, and Crypto trades are commission-free.
Can I trade with expert advisors?
It depends which FX2 platform you’re using. As of the moment, DXtrade doesn’t currently integrate with expert advisors. If you are trading with MT5 or cTrader, then you may use expert advisors, as long as they aren’t high-frequency-trading, arbitrage or other malicious, cheating EAs.
Which trading practices are forbidden?
At FX2 Funding, we prioritize the integrity of our trading community and the fair operation of financial markets. To uphold these principles, we strictly prohibit certain trading activities aimed at manipulating, abusing, or exploiting the trading system. Traders found engaging in prohibited activities will face account suspension or termination without refund.
- High-Frequency Trading (HFT):
High-Frequency Trading (HFT) involves the use of advanced computer algorithms and high-speed communication networks to execute a large number of trades within milliseconds. This practice seeks to profit from small price differentials and market inefficiencies.
- Latency Trading:
Latency trading involves trading based on delayed market data or exploiting execution delays to secure guaranteed profits. At FX2 Funding, we condemn latency trading due to its unethical nature and its violation of fair trading principles.
- One-Sided Betting:
One-sided betting entails consistently taking positions in a single direction without proper market analysis. This speculative approach disregards fundamental news, economic indicators, or technical signals, increasing the risk of substantial losses.
- Arbitrage Trading:
Arbitrage trading exploits price disparities or time discrepancies across different markets or platforms to generate risk-free profits. This practice is strictly prohibited at FX2 Funding to maintain fair market conditions.
- Hedging or Group Hedging Across Various Accounts:
While hedging within the same account is permitted, utilizing multiple accounts for hedging purposes is prohibited as it does not constitute a valid trading strategy. Engaging in hedging activities across multiple accounts is not allowed.
- Use of Platform or Data Freezing Due to Demo Server Errors:
Any attempt to gain an unfair advantage through platform or data freezing resulting from demo server errors is strictly forbidden. Such actions undermine fair competition and will result in investigation and potential sanctions.
- Account Sharing and Third-Party Provider:
Customers are prohibited from granting access to their evaluation and funded accounts to third parties or engaging in trading activities on behalf of others. This includes cooperation with third-party individuals or entities for account management or trading purposes.
Additionally, customers must adhere to standard risk management practices when trading financial markets, including maintaining appropriate position sizes relative to their account equity.
The FX2 Risk Management Department retains the discretion to identify and address forbidden trading practices, which may result in account termination or stricter risk management guidelines.
Can I hold a trade overnight or over the weekend?
Yes, holding trades over these periods is permitted.
Can I trade news events?
In all FX2 programs, the trader may hold trades during high-impact news events. However, any trades executed within a window of 3 minutes before to 3 minutes after a high-impact news event will be considered a soft breach. In such cases, any profits made during the news event will be removed and any losses will be the responsibility of the trader. This rule applies to all order types, including market orders and pending orders (e.g. Take Profit, Stop Loss, Limit Order, Stop Order). The FX2 risk-management team will review each account individually and make decisions based on various factors and risk parameters. Swing traders holding trades for extended periods will be dealt with more leniently, but it’s recommended to avoid executing any pending orders prior to high-impact news events.
What are considered news events?
Please refer to the ForexFactory calendar for a list of applicable news events with high impact, the red label icon. Restrictions will only apply to the currencies affected by the news event. For example, high impact news affecting the USD will restrict trading on USD-denominated pairs such as EUR/USD, GBP/USD, XAU/USD, US indices, etc.
What is the max capital allocation?
The maximum capital allocation is currently $300,000, with restrictions on account combinations.
Can I merge my accounts?
You cannot merge your accounts. You may use your own trade copier, if you have multiple FX2 accounts.
Is FX2 Funding a broker?
No, FX2 Funding is not a broker. We provide simulated trading accounts to traders who successfully pass our evaluations.
How do I become an affiliate?
Joining our affiliate program is straightforward. Visit our website, fill out the necessary details, and submit your application for review.
Which countries are ineligible for the programs?
FX2 welcomes traders from around the world with the exception of residents or citizens from the following countries:
- United States of America
- Canada
- Afghanistan
- Central African Republic
- Congo (Brazzaville)
- Congo (Kinshasa)
- Cuba
- Guinea-Bissau
- Iran
- Iraq
- Korea, North
- Libya
- Mali
- Russian Federation
- Somalia
- South Sudan
- Sudan
- Syria
- Venezuela
- Yemen
Please note that the list is subject to change, and it is essential to verify eligibility based on the latest updates from FX2.
Do you have a Discord channel?
Yes, join our Discord community here.
What is the profit target?
The profit target is 10%. Once achieved without breaching the daily or maximum drawdown limits, you will be assigned a virtual funded account.
How does the daily drawdown work?
This is the max loss allowed per day. If your negative threshold exceeds it, the account is terminated. It’s calculated as -4% of the higher value between the closed balance and equity (all open and closed trades) at 5pm EST. For example, starting the day with a closed balance of $103,000 and equity of $105,000, the daily drawdown is -$4,200 ($105,000 x -4%). If anytime during the day the equity falls below $100,800, the account closes.
How is the maximum drawdown calculated?
The maximum drawdown starts at 6% below your starting balance and trails from the high water mark of your closed balance. If your equity falls below this threshold, your account will be terminated. Once you achieve a 6% gain (with a closed balance), the drawdown limit is locked at your original starting balance, and you can freely compound the account.
What is the leverage?
Leverage offered includes 1:100 on FX pairs, 1:30 on Metals, 1:25 on Indices, 1:10 on Energy, and 1:2 on Crypto.
Is there a profit target once I'm funded or can I withdraw whatever amount I want?
Once a trader is funded, there is no profit target per se, but it’s unadvisable to withdraw profit before reaching 5-6%, because once you request a payout your maximum drawdown will be your initial starting capital balance.
Example: A $100,000 funded trader who profits $3,000 may request a payout for $2,000. After receiving his payout, his account balance will be $101,000 and his new maximum drawdown will be at $100,000, not leaving him enough room to trade comfortably. It is suggested that this trader make at least $5,000 – $6,000 of profit and then anything above that should be requested as a payout.
Is there a minimum trading day requirement?
No, there are no minimum trading days required to pass the evaluation.
Is there a time limit to complete the evaluation?
No, take as long as you need. There’s no rush.
What happens after passing the evaluation?
After passing, you’ll need to complete KYC verification and sign a contract. The verification process by our risk management team may take up to 48 hours.
How does the profit split work?
The profit split is 80/20. You can opt to increase your share to 95% by purchasing the add-on upon checkout. Payout requests are available bi-weekly, starting 14 days after your first trade.
What are the profit targets?
The initial target in the first step is 8%. After reaching this target, a second simulated account will be sent to you with a 5% target. Traders who successfully complete both phases will be assigned a virtual funded account.
How does the daily drawdown work?
This is the max loss allowed per day. If your negative threshold exceeds it, the account is terminated. It’s calculated as -4% of the higher value between the closed balance and equity (all open and closed trades) at 5pm EST. For example, starting the day with a closed balance of $103,000 and equity of $105,000, the daily drawdown is -$4,200 ($105,000 x -4%). If anytime during the day the equity falls below $100,800, the account closes.
How is the maximum drawdown calculated?
The maximum drawdown is fixed at 10% of your initial balance throughout the account’s lifetime. For example, with $100,000 two-phase account, your negative equity cannot go below $90,000 at any time.
What is the leverage?
The leverage settings are identical to the 1-step program. Leverage offered includes 1:100 leverage on all the FX pairs, 1:30 on Metals, 1:25 on Indices, 1:10 on Energy and 1:2 on Crypto.
Is there a minimum trading day requirement?
No, there are no minimum trading days required to pass the evaluation.
Is there a time limit to complete the evaluations?
No, take as long as you need. There’s no rush.
What is the profit split and how does it work?
The profit split is 80/20. You can opt to increase your share to 95% by purchasing the add-on upon checkout. Payout requests are available bi-weekly, starting 14 days after your first trade.
What happens after passing each one of the two evaluations ?
Upon successful completion of the 1st evaluation, you’ll need to complete KYC verification and sign a contract. The verification process by our risk management team typically takes up to 48 hours.
Are there any add-ons?
Yes, add-ons for the two-step evaluation are available in the purchase process. You can boost your profit split to 95% and reduce the payout interval from 14 days to 5 days.
Who is the counterparty to my trades?
For purposes of managing risk and minimizing transaction costs, we may offset or negate market risk and act as the direct counterparty to certain trades initiated in the Account. Such trades are executed at prices provided by arm’s length third parties. This framework is intended to ensure you receive real market execution on your trades, while simultaneously allowing us to manage risk dynamically by routing existing positions or future orders to third parties for execution as we deem appropriate. We believe that such real market execution and dynamic risk management would not be possible or as cost-effective if trades were executed in simulated accounts. Regardless of whether we act as counterparty to your trades, the gain or loss on your funded account is not calculated differently. However, when we act as the counterparty to your trades, there is an inherent potential conflict of interest because your trades do not result in net gain or loss to us, as your trades would if we were not the direct counterparty.
Do we manipulate the pricing or executions you receive in your Funded Account?
No. We do not have any control over pricing from the liquidity provider(s) or on the executions on your trades.
Am I subject to any position limits?
The maximum position that you may open is generally determined by your available margin.
We reserve the right to increase the margin requirement, limit the max order size or limit the number of open positions you may enter or maintain in the Funded Account at any time, and to revise in response to market conditions the drawdown levels at which trading in the Funded Account will be halted. We or the liquidity provider(s) reserve the right to refuse to accept any order.
If I have a hard breach in my Funded Account and there are gains in the account, do I forfeit those gains?
If you have gains in your funded account at the time of a hard breach, you can still request the withdrawal of your portion of those gains.
For example, if you have a $100,000 account and you grow that account to $110,000. Should you then have a hard breach we would close the account. Of the $10,000 in gains in your funded account, you would be paid your portion thereof.
How do I withdraw the gains in my Instant Funded Account?
Traders can request a withdrawal of the profits in their funded account through their trader dashboard at any time. However, withdrawals are limited to one request every 30 days. The minimum withdrawal amount is the greater of $100 or 1% of the account’s starting balance. When a withdrawal is approved, we will also withdraw our share of the gains, and your max trailing drawdown will lock in at your starting balance. The trailing drawdown does not reset when you request a withdrawal. Example: You have taken an account from $100,000 to $120,000. You then request a withdrawal of $16,000. In this scenario, you will receive $12,000 and we would retain $4,000. This would also take the balance of the account down to $104,000, and your Maximum Trailing Drawdown is locked in at $100,000. So, you would have $4,000 maximum you could lose on the account before it would violate the Maximum Trailing Drawdown rule. If you take a full withdrawal of the gains in your Funded Account, the Maximum Trailing Drawdown will lock in at the starting balance and trigger the Maximum Trailing Drawdown breach rule, resulting in the forfeiture of your Funded Account.
What happens if I do not pass KYC?
Do I need to complete KYC or sign a trader contract to start trading in an Instant Funding Plan?
A Trading contract and KYC are both required, however to start trading using our Instant Funding Plan, these steps won’t need to be completed until you request a withdrawal.
Simply reach out to FX2’s dedicated support team and we’ll be in touch to help you out as soon as possible.
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