How does Express Funding work?
Who is eligible for Express Funding?
Traders who have received a Funded trader account through OneUp Trader but received an FTA termination in the past 30 days.
What are the benefits of having an Express Funding Account?
Traders will now be able to complete the Evaluation in just 5 trading days to become a funded trader again. This program is specifically designed for traders who have previously demonstrated their trading skills and may only need to go through some of the evaluation processes again.
What is the monthly fee for an Express Funding Account?
The monthly fee for Express Funding will be based on the account size that you are eligible for:
(NB: You can only purchase an Express Funding Account of the same size as your previously Funded Account)
As a reminder, the subscription billing recurs every 30 days.
What are the rules and parameters of the Express Funding Account?
The rules for an Express Funding Account are the same as for a normal Evaluation account, except traders can now fast-track the process and complete it within five (5) trading days!
Trading Days
You must trade a minimum of 5 trading days to be eligible for placement with our funding partners. Holidays and Weekends are not included.
Permitted Products
Trade permitted products: 6A 6B 6C 6E 6N 6J 6S CL E7 EMD ES GC GE GF HE HG HO LE M2K MES MNQ MYM NG NKD NQ PL QI QG QM QO RB RTY SI UB YM ZB ZC ZF ZL ZM ZN ZS ZT ZW
Permitted Times
All positions MUST be closed by 3:15 PM CT. Trading day starts at 5 PM CT and ends at 3:15 PM CT (excluding holidays and weekends). No positions must be opened between 3:15 PM CT to 5 PM CT.
Max Position Size
Your maximum position size is based on the account size you choose, and this is the maximum allowable open positions across all products at any given time.
Profit Target
Your required profit target is based on the account you choose. It is the minimum amount of net profits needed for placement with our funding partners.
Consistency
Traders must demonstrate the ability to trade in a consistent and regular trading pattern throughout the Evaluation.
Traders must have three (3) other best trading days' net profits total summed up to equal 80% or more of the largest day's net profit.
Consistency example:
BEST TRADING DAY: $1,000 (net after commissions).80% of the Largest trading day = $800 (The total sum of three (3) other best trading days' must be equal to or greater than the best day).
SUM / TOTAL OF 3 OTHER BEST TRADING DAYS
Trading Day 4 - 2nd Best Trading Day: $400 (net after commissions).Trading Day 9 - 3rd Best Trading Day: $300 (net after commissions).Trading Day 15 - 4th Best Trading Day: $240 (net after commissions).___________________________________$400 + $300 + $240 = $940 (Over $800).
The consistency can also be completed within two (2) days.
For example:Largest trading day = $1,0002nd largest day = $800
Trailing Drawdown
Do not allow your Account Balance to hit or exceed this amount. The Trailing Drawdown will increase a defined distance as your account balance increase.
*Please monitor this in Rithmic R|Trader under Auto Liquidate Threshold Value
Video Tutorial -
How many times can a user have an Express Funding Account within a 30-day period?
Users can have an Express funding account a maximum of two times within a 30-day calendar period.
What Account Size can I purchase?
A user can purchase an Express Funding Account the same size as the previous Funded Account size.
What happens when a user cancels their Express Funding Account subscription?
When a user cancels their subscription to the Express Funding Account, they will lose the Express Funding Account offer, and the user can only start a regular Evaluation Account.
What options do users have if they hit the trailing drawdown?
If users hit the trailing drawdown, they will be given the option to reset their account for $100.
What happens if a user's Express Funding Account subscription renews and their account hits the trailing drawdown or violates an Evaluation rule?
If a user's Express Funding Account subscription renews and their account has violated a rule, they must reset their account for $100 to continue trading.
