Fast Pass Challenges
What is the Consistency Rule
1.) The first thing to note is that we require our traders participate in 5 minimum trading days for each withdrawal. Notably, executing 0.01 lot positions or employing placeholder trades of short duration falls short of meeting the criteria for a valid trading day during the funded stage. The process is straightforward: Trade according to your normal strategy for 5 separate days
2.) 50% Consistency Rule: no single trading day can be 50%+ of your total profit. This metric is calculated based on the day the trade was opened, and upon its equity, not the balance.
3.) Lot Size Consistency Range Rule (For Funded Paradise Traders) Your average trade size calculated at the time of your payout review is used to calculate a trading range. The range is determined by adding 100% to your average trade size to determine the maximum value and subtracting 75% to determine the minimum value. If your average trade size was 20 Lots. This means that any trades that fall within the range of 5 to 40 lots would be considered consistent with your strategy.
4.) If you are not within the “50% Consistency Rule” and you request a payout, your payout will be denied. Then your funded account balance will be reset and you may continue to trade again.
Trades that are inconsistent with the “Lot Size Consistency Range Rule” are subject to review/deduction from total profit split. The lot size consistency range calculation is determined by all closed orders on an account from the first trade into the requested withdrawal date. Your average trade is a final number which is calculated once a payout is requested.
To calculate your average, divide the total lot volume traded throughout the period by the total number of closed orders. After finding your average, simply multiply by 0.25 and 2.00 to find the bottom and top of your consistency range. After the range has been calculated, Please note that orders that close within 2 minutes of each other will be treated as one order when deducting lot size orders in profit from the average range, as the metric is based on closed orders
Lot Size Consistency Range Calculation:
Total Lot Volume Traded/Trades Executed: Lot Size Average
Lot Size Average x 0.25: Bottom Of Consistency Range
Lot Size Average x 2.00: Top Of Consistency Range
Since all pair classes have 1:100 leverage
When calculating the lot size average gold/forex pairs, indices and crypto have to be converted to be consistent on the margin requirements of each trade
For example:
.2 nas/us30 is equivalent to 2.00 Gold/forex pairs
.01 nas/us30 is equivalent to 0.1 Gold/forex pairs
Another example:
If there is an instance you are doing .1 lot size on nas/us30 and .1gold/forex pairs
The indicie pair lot sizes will be multiplied by 10 on the lot size average calculation
In some instance the indicie lot sizes are kept the same and the gold/forex pair lot sizes are divided by 10 instead
How Long Will Fast Pass Usage Be Available?
The use of Fast Pass EA’s on our 1-Step Evaluation will be available for a limited time.
The most popular request we have received, by far, leading up to launch, has been to enable the use of Fast Pass EA’s during the evaluation stage. As a result, our team has custom built our simulated trading program to sustain longevity while having higher passing rates than most firms.
We have seen other firms introduce Fast Pass usage with extremely high profit splits. Although this may look pleasing to the trader, the main question is how well can something of that nature be sustained.
Our commission payout structure of 50% during the first month may be lower than what you’ve commonly seen. However, we much rather execute our own business model at a high level, and offer our traders a great experience (Fast payouts, High Score Bonus Prizes, Giveaways), rather than creating something that cannot be sustained long term.
What Is The Payout Schedule for Fast Pass Accounts?
Payout 1: Your first payout will be 20 calendar days from the first trading day on your experienced trader account. Performance Commission: 50%
Payout 2: After your first payout, your account balance will be reset. You now have access to biweekly payouts for life. You are now eligible for higher commission payouts. Performance Commission: 70%
Payout 3: Once the third payout is reached, your account balance will be reset again. Performance Commission: 80%
Payout 4: Once the fourth payout is reached, your account balance will be reset yet more. Performance Commission: 95%
A trader will be eligible to receive accounts with reset balances at a 95% commission amount every 14 days. If your account is in drawdown at any of the above eligibility dates, you can simply continue trading your account until you are eligible.
All payouts are performance commission while trading a simulated market environment.
please note when requesting a payout, you may not trade on the account or your payout may result in a decline.
Do You Allow High Frequency Trading?
At this time, there are no restrictions towards the trading style you use during the evaluation stage. If it works on our servers, you can use it. However, to find more information on the strategies that are not allowed on during the experienced trader stage, you can check below at “Which Trading Styles Do We Accept On This program?”.
Is there a Profit Cap?
There is a 6% profit cap on all accounts and payments cycles.
1st payout is 50% profit share
2nd payout is 70% profit share
3rd payout is 80% profit share
4th payout is 95% profit share
You may trade over 6% on your account, but only 6% will be counted for the payment cycles.