Frequently asked questions
Find your questions answered below, if you have other inquiries that are not found below, you can email us.
-
Getting
Started - The Funded Account
-
Risk
Management -
Other Queries
(coming soon)
Getting Started
Our Evaluation Process is designed in a way to provide us with sufficient grounds to ascertain your trading skills and allow you to profit in the live account stage consistently.
The path of a trader is challenging, and our educational speaker, account analyst, and performance coach are here to guide our clients.
Please note that Bit-Prop does not provide services to persons in/from Iran, Syria, Myanmar and North Korea, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.
The Funded Account
Once you meet all Trading Objectives and your trades are reviewed, you can move on to the next phase right away. All in all, you can start managing our fund after as few as 10 trading days.
Every 30th of the month you can request payouts for any profits that you generated. We will process your payment as quickly as possible (usually within 24 hours). Take note that in order to be eligible for a payout, your funded account balance has to be exceeds $100 in profits. In any case you are not withdrawing any profit in a month, the profit will automatically be withdrawn to your wallet at the 30th of the following month.
Risk Management
If you have a starting balance of $200,000, 5% daily loss equals to a $10,000 loss. If your account falls below $190,000 within any given trading day, you are in violation of the Daily Loss rule.
The capital in any of the accounts (includes demo and live account) cannot at any given time drop below 10% of the initial account value.
For example:
If you have a starting balance of $200,000, 10% of this equals $20,000. This means if your account falls below $180,000 at any given moment you are in violation of the Max Drawdown rule and thus the account will be disabled.
How do I calculate the Max Drawdown?The maximum Drawdown allowed is a constant of 10% of your initial account size. This means that if you have a $200,000 account, the maximum overall loss you can incur is $20,000 (10% of $200,000) at any given time.
It’s important to note that the maximum drawndown of 10% includes both the realized and unrealized profit and loss (P&L) of your open positions.
How to define a trading day?
A trading day is defined as a day where at least one trade is executed. For example if a trade is held over a number of days, the only day that will be considered a “Trading Day” is the day the position was opened, which means only one day.
- Met the profit target of 10%,8% in the respective stages
- Traded a minimum of 5 trading days from both stages
- Closed all active trades on the phase 2 account
Important:
Once you are a Bit-Prop trader you will trade on a live account and therefore will be required to provide the required Identity (KYC) documents.
Other Queries
- Getting Started
- The Funded Account
- Risk Management
- Other Queries (coming soon)
Getting Started
Our Evaluation Process is designed in a way to provide us with sufficient grounds to ascertain your trading skills and allow you to profit in the live account stage consistently.
The path of a trader is challenging, and our educational speaker, account analyst, and performance coach are here to guide our clients.
Please note that Bit-Prop does not provide services to persons in/from Iran, Syria, Myanmar and North Korea, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.
The Funded Account
Once you meet all Trading Objectives and your trades are reviewed, you can move on to the next phase right away. All in all, you can start managing our fund after as few as 10 trading days.
Every 30th of the month you can request payouts for any profits that you generated. We will process your payment as quickly as possible (usually within 24 hours). Take note that in order to be eligible for a payout, your funded account balance has to be exceeds $100 in profits. In any case you are not withdrawing any profit in a month, the profit will automatically be withdrawn to your wallet at the 30th of the following month.
Risk Management
If you have a starting balance of $200,000, 5% daily loss equals to a $10,000 loss. If your account falls below $190,000 within any given trading day, you are in violation of the Daily Loss rule.
The capital in any of the accounts (includes demo and live account) cannot at any given time drop below 10% of the initial account value.
For example:
If you have a starting balance of $200,000, 10% of this equals $20,000. This means if your account falls below $180,000 at any given moment you are in violation of the Max Drawdown rule and thus the account will be disabled.
How do I calculate the Max Drawdown?The maximum Drawdown allowed is a constant of 10% of your initial account size. This means that if you have a $200,000 account, the maximum overall loss you can incur is $20,000 (10% of $200,000) at any given time.
It’s important to note that the maximum drawndown of 10% includes both the realized and unrealized profit and loss (P&L) of your open positions.
How to define a trading day?
A trading day is defined as a day where at least one trade is executed. For example if a trade is held over a number of days, the only day that will be considered a “Trading Day” is the day the position was opened, which means only one day.
- Met the profit target of 10%,8% in the respective stages
- Traded a minimum of 5 trading days from both stages
- Closed all active trades on the phase 2 account
Important:
Once you are a Bit-Prop trader you will trade on a live account and therefore will be required to provide the required Identity (KYC) documents.