Frequently Asked Questions
Check out our list of rules and questions below, if you cannot find your answer feel free to reach out to our support team at support@thefundedpeak.com
Migration to DXtrade
Dear Traders, We are excited to announce that we will transition from the existing platform to the new and improved DXtrade platform. DXtrade offers a customizable trading experience, allowing you to tailor your screen to display exactly what you need. It’s also easier to access, login, and manage trades, with faster response times and support for multiple instruments. We aim to ensure a consistent trading experience for all our clients, so we plan to migrate all accounts to DXtrade. This transition will provide uniform trading conditions across the board. Our tech team is working diligently to implement a smooth transition and to enhance the overall trading experience for all traders.
What Does This Mean for You?
Withdrawals
- All withdrawal requests will be paused starting Tuesday, August 20th at 2300 GMT.
- This pause will continue until the migration to DXtrade is complete.
- Rest assured, this migration will not affect your current or future payouts.
Trading
- You can continue trading on existing platforms as usual until Thursday, August 22nd at 2300 GMT.
- If you're already using DXtrade, your trading will not be impacted.
Closing Trades
- Please close all trades on existing platforms before Thursday, August 22nd at 2300 GMT.
- At that time, any open trades on existing platforms will be automatically closed, and your trading accounts on these platforms will be disabled.
How Will the Migration Work?
- We will take a snapshot of your trading account before the migration.
- All existing platforms accounts will be migrated to DXtrade during the weekend of August 24-25.
- Your accounts and personal data will be securely transferred during this process.
- You will receive new trading credentials for DXtrade by 2300 GMT on Sunday, August 25th.
- If you haven't received your new account details by Wednesday, August 28th, please contact support with your name, email address, and old account number. To assist us in the identification of the emails please put in the subject line “Migration to DX” Only active trading accounts will be migrated.
- Note: You will not be able to trade from Thursday, August 22nd at 2300 GMT until you receive your new DXtrade credentials
Next Steps:
Familiarise yourself with DXtrade
We encourage you to familiarise yourself with the DXtrade platform while continuing your trading strategies.We appreciate your patience and understanding as we make this important transition. This change represents a significant step forward in enhancing your long-term trading experience with our firm.Our team is committed to making this process as seamless as possible. Thank you for being a valued member of our trading community.Best regards,
Support Team.
Our drawdowns are calculated as a static value off the beginning capital deposited into your trading accounts and evaluations
Currently we run a 2 phase evaluation program and as such there are no ongoing fees.
We are partnered with Eightcap as our broker to offer industry leading spreads and commissions for traders. To understand their account offering that we use see here: https://www.eightcap.com/en/trading/trading-conditions/spreads/
Once you become a live funded trader, you must trade with us for at least 30 days for your first payout, and after that we can payout bi-weekly.
No, there are unlimited trading days.
There are no profit targets required to be reached on the live funded account. However, the account must end in a positive balance at the end of the 30 day trading period to make a withdrawal.
Yes, on Peak Challenges you are allowed to use EA’s and indicators, including tools for managing risk and automated trading systems. However, certain strategies are strictly prohibited in the funded stage:
-High-frequency trading (manually or using a bot)
-Hedge arbitrage trading
-Tick scalping
-Grid Trading
-Martingale
-One-sided betting
-Latency arbitrage trading
-Reverse arbitrage trading
-Copying trades from other traders
If any of these strategies are detected in your live account, it will be considered a violation of the rules and The Funded Peak will terminate your account.
Third party EA must be verified prior to using it on your live account.
The purpose of the evaluation is for us to make sure that you are a consistent trader without any capital risk. As our evaluation is set up to test your trading without risking capital, you cannot withdraw profits on this phase.
The Funded Peak was founded by experienced traders and liquidity risk managers. We see $900.000 as an optimal maximum amount of capital before excess levels of slippage and poor trade conditions not suited to retail traders will set in.
The minimum withdrawal amount is $100.
We classify our live traders as independent contractors. As such you invoice us for your earnings and must report this yourself to your relevant tax authority.
Yes, as we are on the lookout for individual traders and often make payouts to bank account for our live traders. As such accounts must be created in your own name.
Yes, traders are allowed to trade news. We would recommend to be careful and use proper risk management.
Yes our program allows for weekend and overnight holding of trades, only on our Peak challenges.
Unfortunately, this is not permitted.
For more information, please see the Schedule of Assessment.
We do not allow for account merging due to risk management and tracking purposes. You can however have up to three challenges at one time totalling a maximum of USD 900k in funding.
As we are evaluating the trading of individuals you are solely responsible for your account login details. If you share account passwords with others it will violate our terms and conditions and as such it is not permitted.
To request a withdrawal, please go to your dashboard and select the Withdrawal/ Profit Share option to request a withdrawal.
Once you send your request, our payments team will verify if you meet the eligible criteria to make a withdrawal, if so they will process the payout either via Cryptocurrency or Bank Transfer.
Please notice that once you create a Funded account, you will be required to sign the Independent Contractor Agreement and fill out the Payment Method form, where you will provide your preferred payment method to process your future requests.
We aim to process payouts as quickly as possible. Our average withdrawal processing time is within 1-4 business days.