FAQ’s
Funding Process:
How will you receive your challenge account logins?
As soon as your payment is confirmed, we’ll email you your login details right after your KYC has been approved.
What happens if you violate the rules?
The main rule can result in immediate disqualification:
(1) Max Absolute Drawdown.
For transparency, we use an automated system that will instantly close all your open trades and freeze your account if this rule is breached.
Account reviews are manually conducted.
If a rule violation is detected, that account will be suspended and not eligible for future payouts. However, you can start a new funding account.
Once funded, do you have to wait to request a profit share?
NO! you can request a payout as soon as you’ve completed 10 Active Trading Days after placing your first trade on the account and a 5% net profit.
What is the payout frequency?
LV1 Payouts
The first payout on LV1 can be requested after 10 Active Trading Days and a 5% net profit achieved. Following this, any subsequent payouts can be requested during the last five days of each calendar month.
LV2 Payouts
On LV2 & LV3, payouts can be requested bi-weekly every 10th to 15th and 25th to 30th of each calendar month.
LV3 and Higher Levels Payouts
Starting from LV4 and higher levels, payouts can be requested Weekly, any time once a week.
It is important to remember to comply with all the rules and requirements of the Instant Funding Program to remain eligible for payouts. The payout system is designed to reward successful traders and provide a reliable income for those who prove their trading skills.
What are the stop loss rules?
Traders who don’t use stop losses tend not to survive long in trading. That’s why we require you to place a stop loss on every trade.
Not using a stop loss is considered a light breach – it won’t lead to the termination of your funded account, but our risk management system will automatically close trades without a stop loss within 1 minute after placing the trade to ensure proper risk management.
*Note that any trades closed without a stop loss and in profit will not be counted towards your profit target objectives.
Can you use EA’s?
You can trade with any algorithms or EA that you developed or bought to use personally.
However, we prohibit using Martingale, High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, Any Tick Scalping Strategies, Copy Trading of other person signals, any Reverse Arbitrage Trading, any Hedge Arbitrage Trading, and the use of any emulators.
Is Copy Trading allowed?
Copy trading is prohibited in the following cases:
– When buying an EA online and multiple traders end up using the same EAs resulting in mirrored trading activity and/or copy trading, where the same trades are taken on more than 2 accounts. In such a case, we would contact you and let you know to terminate using the EA.
– Copying other traders’ trades using Social Trading Tools or other copy trading softwares or using challenge or evaluation pass services.
Can you Hedge trades?
Yes! we have no issues with hedging positions. However, you need to be aware that risk is not reduced when hedging positions. Each open position is still considered a new position.
Can you Retry?
- We provide a 10% discount on your next Challenge or Instant Funding purchases.
- We also offer a 5% discount on your next Direct Funding purchases.
What happens when you Pass?
Once you reach the profit target objective, simply sit back and relax while our team manually reviews your account. As soon as you’re approved, you’ll receive an email with your new login details right away.
Please send an email to hello@fxselects.com and include the following information:
1. Account name
2. Account number
After reviewing your account, we will contact you with the next steps.
How do you request a payout?
We process payouts through a Bank Transfer
Please email hello@fxselects.com the subject “Payout Request” and specify the amount you would like to payout.
KYC?
To get verified, we will ask you the following:
- Proof of ID: National ID, Passport, or Driver’s Licence.
- Proof of Address: Recent Utility Bill, Bank Statement, or Internet Bill.
What Broker do you use?
We’ve partnered with a prestigious 3rd party institutional prime liquidity provider regulated in Cyprus.
CySEC is one of the most reputable regulators in the European Union.
Why does it Matter?
Being regulated in Cyprus means that you can trust in the safety and security of your trading journey with us. By meeting our KPI performance benchmarks, our profitable traders get connected with “Broctagon,” which helps us facilitate an optimized trading environment, creating a pathway for our traders to flourish and succeed.
What Platforms do we offer?
Currently, we are only offering MetaTrader 5 for Windows and Mac OS.
What are the spreads and commissions?
Our commissions are $2.25 per lot per side.
Also, we have one of the lowest spreads in the industry, with an average spread of 0.1 pip on EURUSD. Our spreads are also very competitive on indices.
What Symbols can you trade?
Forex Majors: EURUSD, GBPUSD, NZDUSD, AUDUSD, USDCHF, USDCAD, USDJPY.
Forex Minors : EURGBP, EURNZD, EURAUD, EURCHF, EURCAD, EURJPY, GBPNZD, GBPAUD, GBPCHF, GBPCAD, GBPJPY, NZDAUD, NZDCHF, NZDCAD, NZDJPY, AUDCHF, AUDCAD, AUDJPY, CADCHF, CADJPY, CHFJPY.
Commodities: Gold, Silver, Oil.
Major Index Stocks: S&P500, US30, US100, DAX, UK100, F40, JP225, STOXX50, AUS200, .CHC50, ES35, HKCHKD, N25, SWI20, RUS2000
We offer swap free accounts!
we offer Swap Free accounts.
If you require one due to religious reasons, simply make a payment and then send us an email at hello@fxselects.com with documentation that verifies your religion.
Once we’ve confirmed its validity, we’ll convert your account to a Swap Free account.
*Please note that to be eligible for the Swap Free account, your account must not have been traded.
We’re committed to accommodating your needs in line with your beliefs.
Can you use a VPS for your EA?
Yes!
Server Location
Amsterdam
fxselects.com is owned and operated by Smith Capital Investments Ltd, a limited company registered in the England.
© 2023 Copyright Smith Capital Investments Ltd. All Rights Reserved.
Disclaimer
Smith Capital Investments Ltd does not undertake any regulated activities. Smith Capital Investments Ltd does not act as or conduct services as a broker. Smith Capital Investments Ltd is not a financial institution of any kind. It’s not a broker, and it does not market for any brokerage services. Smith Capital Investments Ltd does not act as or conduct services as a custodian. Purchases of programs should not be considered deposits. All program fees are used for operation costs including, but not limited to, staff, technology and other business-related expenses. Information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Risk Disclosure: The Services Provided On This Website Are Professional Skill-Assessment Services. The Outcome Of The Proposed Services Is Necessarily Determined By The Individual Professional Skill Level And Ability To Perform Under The Program Guidelines And Objectives As Elaborated For Each Service Separately. Clients Are Advised To Conclude A Thorough Study Of The Requirements Of The Funding Programs Before Signing Up For Any Of The Services.
All accounts operate within a simulated trading environment. These platforms mirror real trading activities, but they do not engage with genuine money or assets. Any earnings, profits, or losses experienced within this simulated trading environment do not translate to actual financial outcomes and cannot be claimed or actualized beyond this educational context.
Hypothetical performance Disclosure: Hypothetical Performance Results Have Many Limitations, Some Of Which Are Described Below. No Representation Is Being Made That Any Account Will Or Is Likely To Achieve Profits Or Losses Similar To Those Shown; In Fact, There Are Frequently Sharp Differences Between Hypothetical Performance Results And The Actual Results Subsequently Achieved By Any Particular Funding Program. One Of The Limitations Of Hypothetical Performance Results Is That They Are Generally Prepared With The Benefit Of Hindsight. In Addition, Hypothetical Trading Does Not Involve Financial Risk, And No Hypothetical Trading Record Can Completely Account For The Impact Of Financial Risk Of Actual Trading. For Example, The Ability To Withstand Losses Or To Adhere To A Particular Trading Program In Spite Of Trading Losses Are Material Points Which Can Also Adversely Affect Actual Trading Results. There Are Numerous Other Factors Related To The Markets In General Or To The Implementation Of Any Specific Trading Program Which Cannot Be Fully Accounted For In The Preparation Of Hypothetical Performance Results And All Which Can Adversely Affect Trading Results.
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