Frequently Asked Questions
Find answers to the most commonly asked questions about MyPropTraders here.
Our Mission ?
At MyPropTraders, our mission is to empower traders by providing unparalleled access to capital, advanced trading tools, and expert guidance. We strive to create a supportive and innovative trading environment where talent can thrive and potential is maximized. By fostering a community of dedicated traders, we aim to transform aspirations into achievements and drive success in the global trading landscape.
How Do I Become Funded By MyPropTraders ?
To trade with a funded account, all traders must successfully complete our Evaluation process. Choose your desired account size and sign up for the Evaluation. Upon passing the Evaluation, you will be granted access to a funded account.
What Account Sizes Available ?
We offer 5 account sizes: 10k, 25K, 50K, 100K and 200K. The account size is the amount of available balance to trade on the account. Your will be trading the same account balance throughout the whole process.
How Many Accounts Can I Trade ?
You can purchase and trade multiple Evaluations at the same time. We allow you to merge funded accounts up to a maximum of 400k.
Our scaling plan allows you to grow your account to $2,000,000.
I have passed the Evaluation Program, what is next?
Once completing phase 2 objectives you can complete the KYC and sign the contract in your dashboard. Once completed the process can take up to 24 hours to receive funded credentials.
You will be notified by email once you pass each stage and automatically sent your new credentials.
What are the available Payment Methods?
You can pay for the evaluation via debit/credit card & Crypto.
Is Copy Trading Allowed ?
Yes with MyPropTraders you are allowed to use copy trading, however please note that the copy trading is allowed only between same types of accounts, that means you can copy trades between multiple challenge accounts or copy trading between multiple funded accounts.
Can I change the credentials of the account ?
No. Users are not allowed to change the credentials of the account. It is considered a serious violation.
How Do Payouts Work ?
Traders can request a payout 14 days after their first trade on a funded account and again 14 days after their first trade post-withdrawal. To qualify, your account balance must be above the initial balance with no violations, and all positions must be closed. Payouts are processed within 24 hours and can be requested through your dashboard. Withdrawals are handled via Riseworks.io, allowing transfers to both bank and crypto. Payments under $2000 can be withdrawn directly to crypto.
What is the Profit Split?
The profit split a trader receives is 85%.
What is an Evaluation ?
The Evaluation is a two-step process where you are required to trade on a demo account.
When does the Evaluation Start ?
Your Evaluation starts from the moment you place your first trade on your account.
Do you have a Scaling Plan ?
Yes, we have a scaling plan. With our scaling plan you can grow your account to a maximum of $2,000,000.
In order to scale your capital and grow, you must make 10% within a 3 month period. If you achieve this, we will increase your account size by 30% of your initial balance.
How is the Maximum Daily Loss calculated ?
Maximum Daily Loss rule keeps your risk management strategy consistent by not allowing you to loose more than 5% of your account each day. Threshold is being calculated on 23:05 CEST time and always considers your ending day balance for the next day.
What is the Maximum Loss Limit ?
Maximum drawdown rule protects you from risking more than 10% from your initial balance. This level is set once you purchase your challenge from your initial balance and remains same during the whole duration of your challenge.
Is Martingale Strategy Allowed ?
Yes, Martingale strategy is permitted for traders at MyPropTraders across all phases of our accounts. We believe in providing traders with the freedom to explore various trading strategies, including Martingale, to suit their individual preferences and risk tolerance levels.