Frequently Asked Questions
About Funded Knight
Funded Knight seeks skilled traders through a comprehensive 1-step and 2-step evaluation process: The Ninja Challenge and The Knight Challenge. Traders who successfully complete the evaluation gain access to a simulated funded account, where they can potentially earn up to 95% of the profits made.
We understand that trading is a challenging career so we offer educational resources, detailed account analysis, and trading journaling tools to support our clients’ growth and success. Remember, our client’s success is our success.
We welcome anyone who is above the age of 18 with the passion and skills in trading to join us!
Funded Knight values the diversity of traders around the world, however, we are unable to accept clients from the following countries (both nationals and residents) due to regulatory restrictions and compliance requirements: Afghanistan, Belarus, Central African Republic, Congo (Brazzaville), Congo (Kinshasa), Cuba, Guinea-Bissau, Iran, Iraq, North Korea, Libya, Mali, Russian Federation, Somalia, South Sudan, Sudan, Syria, Yemen, Venezuela.
No, Funded Knight is not a broker. We offer our clients simulated funded demo accounts, which they can access after successfully completing a 1-step or 2-step evaluation process.
Proprietary or prop trading is a programme where traders trade using the simulated capital of a prop trading firm rather than their own funds. The prop trading firm will provide not only simulated capital but also education, software, analysis and other supports for traders’ success.
The prop trading firm allocates an agreed amount of simulated capital to a trader to trade with. Prop traders face the same trading conditions as standard traders. They can use different strategies to trade with proper risk management.
The prop firm’s main goal is to identify genuine profitable traders to trade the prop firm’s capital for profits. Once a profitable trader is identified, the prop firm will enter a partnership with the trader and do profit sharing on the profits generated with the trader.
Evaluation Programme
Yes, of course! At Funded Knight our mission is to make trading accessible to anyone! You are welcome to try out our trading conditions and platforms for FREE! You can find the link to get a free trial on our website home page.
The Ninja (1-step) Challenge is an accelerated evaluation designed for experienced and profitable traders who are seeking rapid advancement and quick access to substantial trading capitals. With lower maximum loss limit and higher profit target, it allows skilled trading professionals to pass the evaluation efficiently by reaching only one profit target. Elevate your trading career with our fast-track Ninja Challenge now!
The Knight (2-step) Challenge is a trading evaluation designed for consistent performers. With an increased maximum loss limit and lower 2 steps profit targets, this evaluation offers greater buffer against market volatility and losing streaks, allowing skilled traders to demonstrate their expertise over extended periods, emphasizing consistency and resilience.
You should choose the evaluation that best aligns with your trading style.
For Ninja (1-step) Challenge, the profit target is 10% of evaluation account size. For Knight (2-step) Challenge, the profit targets are 8% + 5% of evaluation account size.
As a professional modern prop trading firm, we prioritize risk management and trader’s success. Daily loss limit is introduced to protect your evaluation account, help you maintain discipline, avoid emotional decisions and cultivate sustainable trading habits.
The daily loss limit is calculated live based on the sum of realized and unrealized loss (inclusive of commission) in the day compared to your evaluation account balance or equity (whichever is higher) at 5 pm EST. For all challenges, the daily loss limit is 4% of evaluation account size. Example: If your Daily Starting Balance (i.e., the higher of balance or equity previous day at 5 PM EST) was $100,000, your simulated account would violate the daily loss limit if your equity reached $96,000 anytime during the day. The daily drawdown will not change until 5 PM EST.
The overall loss limit is calculated based on the evaluation account size of your choice. For Ninja (1-step) Challenge, the overall loss limit is 7% of evaluation account size. For Knight (2-step) Challenge, the overall loss limit is 10% of evaluation account size.
Knight (2-step) Challenge Example: If your evaluation account size was $100,000, your simulated account would violate the overall loss limit if your equity reached $90,000 (inclusive of commission).
For Knight (2-step) Challenge, if you achieve the profit target 1, you will automatically receive phase 2 evaluation account credentials by email within 24 business hours (available also on Dashboard).
If you achieve all profit targets, we will conduct a comprehensive review of your evaluation account to ensure all rules were followed. This review process typically takes 2-3 business days. Once completed, you will be invited for a KYC (Know Your Customer) verification process and signing of RISE and Funded Knight contracts.
You will receive email which will guide you through the process. Please ensure that you provide accurate and valid legal documents during KYC. The KYC approval process may take up to 2 business days if the submitted documents meet the required criteria. If additional document submissions are needed, the overall process may be extended.
Once KYC and contracts signing are completed, you will receive your simulated funded account credentials by email (available also on Dashboard).
There is no minimum or maximum trading days for the evaluation process. We do not have any maximum time limit during which you have to pass our evaluation, you can therefore take as much time as you need.
We do not limit on the number of evaluation accounts you can have. However, we have a maximum capital allocation limit of $500,000 (prior to scaling) per trader or strategy at any given time. This can be understood as 2 simulated funded accounts with size $250,000, or 5 simulated funded accounts with size $100,000, etc. Please be aware we only allow 1 client registration per individual. We reserve the right to suspend all accounts if multiple registrations are discovered.
Your evaluation accounts or simulated funded accounts will be breached if they are inactive for 30 calendar days. To avoid the account inactivity period timeout, you should execute at least 1 single trade within a period of 30 calendar days.
Rules
You are free to hold your trades during news events. However, you should be careful when trading during high impact news releases. You should NOT execute any new trade or close an existing trade, on the targeted instruments, in the window of 3 minutes before until 3 minutes after the release of the high impact news events. Profit from those trades that are opened or closed (either manual or TP/SL being triggered or by EA) during the 6 minutes window will be removed. In the event any deductions result in the breach of the daily loss limit or overall loss limit, the client is responsible for the violation. This restriction applies to all forms of trade executions, such as manual, pending, stop loss and take profit orders. During high impact news speeches, the prohibited window will extend 3 minutes prior to the speech until 3 minutes after the speech has been finished.
Additionally, only high-impact news events that have a direct correlation with the trading pairs will be taken into consideration. If the news is not directly correlated to your trading pair or is low or mid-impact, you are free to take trades. For example, if you want to take a trade in EURUSD, and there is high-impact news on JPY, you can still open the EURUSD trade as the JPY news is not directly correlated to your trading pair. But if the news were in USD or EUR, then you would be restricted from opening or closing a trade 3 minutes before and after the news.
We are using forexfactory red folder label as definitions of high impact news events:
https://www.forexfactory.com/calendar
You are free to hold trades overnight and over the weekend without any restrictions, however, it is important to note that holding trades overnight may incur swap fees, also known as rollover or overnight financing charge.
You are free to trade cryptos during the weekend, however, the trading platforms may perform maintenance during weekend and you might not be able to amend/close your trades during the maintenance period.
Using any off-the-shelf or third party Expert Advisors/Trading Bots to trade evaluation/simulated funded accounts are prohibited. We may require to prove that your Expert advisors/Trading Bots are your own by presenting the code for any doubts we have, at our own discretion.
We aim to provide traders with flexibility in choosing their trading styles and strategies. However, we do have restrictions in place to prevent abusive practices and ensure fair trading experiences. Violation of any of these requirements may result in warning, breach of account and termination of agreement.
1. Reverse Trading/Group Hedging:
Hedging or executing reverse trades within a single account or across multiple accounts are prohibited. Group hedging involves individuals coordinating opposing trades across one or multiple accounts to exploit prop firm rules, this practice is prohibited.
2. HFT (High-Frequency Trading):
High-Frequency Trading (HFT) in any form is prohibited.
3. Hyperactivity:
Warnings will be sent if any account sends more than 2,000 messages per day for the initial occurrence. Updating your entry, TP/SL orders entail sending a message to the server. If an account reaches this limit for the third time, it will be considered hyperactive, and the account will be breached. Furthermore, if an account generates 15,000 messages in a day, the account will be forcefully disabled to prevent further strain on the system.
4. Arbitrage Trading:
Arbitrage trading refers to the practice of exploiting price discrepancies or time lags across different markets or platforms to generate risk-free profits. At Funded Knight, any form of arbitrage trading is strictly prohibited due to its unethical nature and potential to disrupt fair market conditions.
5. Tick Scalping:
Tick scalping refers to a trading strategy where traders aim to profit from small price fluctuations by executing a high volume of trades within a short time frame. At Funded Knight, limitations have been imposed on tick scalping as a result of its capacity for market manipulation and disruptive trading practices.
6. Exploit errors or latency in the pricing and/or platform(s) provided by the Broker.
7. Utilize non-public and/or insider information or Front-run trades placed elsewhere.
8. Gambling/All-or-Nothing Trading/One-sided Betting/Any form of Martingale:
We reserve the right to breach the account if we deem any trading styles to lack proper risk management. Example, a trading style where you can lose the account in one trade idea or consistently takes positions in a single direction without considering market conditions or conducting the proper analysis.
9. Drastic change in trading style/strategies:
Utilize one strategy to pass an evaluation and then utilizing a different strategy in a simulated funded account or changing from one strategy to another every few days are prohibited.
10. Abuse of the demo/simulated environment:
Abuse of demo environment is characterized by continuously executing large-volume trades without a clear or logical trading strategy. This behavior disregards fundamental market analysis and risk management practices and does not provide us with viable trading data. Evaluation/simulated funded accounts engaging in consistent, high volume trades without a coherent strategy may be flagged for review. This allows us to assess and take appropriate action to maintain a fair trading environment consistent with our mission of obtaining credible trading data. Accounts identified to be consistently executing large-volume trades without a clear strategy may face warnings, temporary limitations on trading activities, or in severe cases, suspension, or a permanent ban from our services.
Every evaluation should be passed independently. You are only allowed to copy trades between Funded Knight simulated funded accounts. You are also allowed to copy trades from Funded Knight account to your personal trading accounts or to other prop firm accounts and vice versa. However, copying trades from third parties is strictly prohibited.
All evaluation/simulated funded accounts must be traded solely by the account owner. Sharing login information with other individuals is strictly prohibited. Therefore, we strongly discourage accessing any evaluation/simulated funded accounts through VPN or VPS to ensure accurate data tracking within our internal systems.
The engagement of any services related to account management, pass-your-challenge, signal or copy trading from third party is strictly prohibited. Any engagement in such activities will result in the rejection of simulated funded accounts and payout as well as a permanent ban from our services.
Accessing your evaluation/simulated funded accounts with multiple IP addresses is permitted, provided it is solely accessed by the account owner. The region of your IP addresses used to log into the evaluation/simulated funded accounts must remain consistent. If our Risk Team detects a change in the region, they may contact you to confirm and request proof, such as airline tickets, passport stamp, or live video of the location.
If our internal systems detect irregularities in the IP addresses, such as multiple IP addresses from different regions accessing the same evaluation /simulated funded accounts, or a single IP address accessing different evaluation/simulated funded accounts, we may request additional documents from you to prove that evaluation accounts are solely accessed by the you.
Accessing your evaluation/simulated funded accounts with multiple devices is permitted, provided it is solely accessed by the account owner. We understand you might want to access your evaluation/simulated funded accounts from PC, mobile phones, tablets and etc. In general, if our internal systems detect irregularities in the number of unique devices, such as more than 5 unique devices accessing your evaluation/simulated funded accounts, we may request additional proofs from you to prove that evaluation/simulated funded accounts are solely accessed by the you.
$8k = Max 4 lots open position at anytime
$12k = Max 6 lots open position at anytime
$25k = Max 10 lots open position at anytime
$50k = Max 20 lots open position at anytime
$100k = Max 40 lots open position at anytime
$250k = Max 80 lots open position at anytime
Payout
Once you have received your simulated funded account, you can request your first payout in 21 calendar days after your first trade and subsequently, you can request payout every 10 calendar days. Please note that we do not process payouts during weekends/public holidays, so if your payout day falls on a weekends/public holidays, it will be processed on the next business day.
Currently, we only process payout via RISE. You can withdraw fiat currency to your bank or cryptocurrency to your wallet from RISE. We are actively exploring other payout options to bring convenience to our funded traders.
Upon successfully completing your evaluation and collecting your first payout, we will refund your evaluation fee along with your second payout.
If your simulated funded account is breached, it is no longer eligible for payouts, even if the simulated funded account is still in profit.
If your simulated funded account is breached after you have requested a payout, payout will still be processed even though you lost your simulated funded account.
The minimum amount to request for each payout is 0.5% of your simulated account size. Example: $40 on a 8k simulated account.
Other
95% profit split is one of the features of our Royal Knight status clients.
In order to qualify for the Royal Knight status, you must not fail more than 2 accounts in the last 3 months, and process at least 5 payouts on a single simulated funded account, each with at least 5% profit prior to the split. If you fulfil the criterias, please email to our support at support@fundedknight.com to request for Royal Knight status, we will review the application on a case-by-case basis. We prioritize responsible and balanced trading strategy that make long-term success.
Our Royal Knight status clients at Funded Knight is a remarkable offering that we believe sets us ahead in the industry, providing exclusive benefits to our most consistent and dedicated traders. By qualifying Royal Knight status, clients can enjoy some of the most exciting benefits such as:
1. Potential access up to $2 million or above in capital to supercharge your trading.
2. On-Demand Payout for greater financial flexibility.
3. Monthly allowance of 0.5% of account size to pay for any trading expenses.
4. A dedicated seat at our trading floor in headquarter
Each Royal Knight status clients is unique and the package may vary depending on trading style, strategies and past performance. We prioritize responsible and balanced trading strategy that make long-term success.
Ready To Level Up Your Trading To Next Level?
Join our challenge and discover your true trading potential. We are here to support you every step of the way with our powerful tool and virtual funding. Your success is our mission. Remember, we are looking for authentic traders, not bounty hunters.