Frequently Asked Questions

About Funded Knight

As a modern prop trading firm, we evaluate traders through prop trading challenge and provide simulated funded accounts to those who successfully pass the challenge. Funded Knight’s mission is to empowers talented traders who lack capital to pursue a sustainable career in the financial markets.

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, United States, Yemen, Venezuela.

No, Funded Knight is not a broker. We offer our clients simulated funded accounts, which they can operate after successfully completing an evaluation process. It is important to note that Funded Knight does not handle client funds or conduct trading on behalf of the public. Due to this unique aspect, the usual regulatory requirements for firms dealing with client funds or providing trading services to the general public do not apply to Funded Knight.

Proprietary or prop trading is a program 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 funds 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.

 

Currently we offer Fortex 7 as our trading platform, it is Clean, intuitive, and simple to use. Fortex 7 is generally used by professional inter-bank traders but it is available to retail traders now. Fortex offers web terminal, desktop terminal and iOS/Android native app.

For more details on Fortex 7, visit https://www.fortex.com

Evaluation Programme

For Funded Knight One Challenge, the profit target is 10% of the 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 Funded Knight challenge, the daily loss limit is 5% of the 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 $95,000 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 Funded Knight challenge, the overall loss limit is 8% of the evaluation account size.

Example: If your evaluation account size is $100,000, your simulated account would violate the overall loss limit if your equity reached $92,000 (inclusive of commission) at any point of time.

If you achieve the profit targets after closing all open positions, 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 genuine 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.

We do not have any maximum time limit for you to pass our evaluation, you can therefore take as much time as you need. For Funded Knight challenge, the minimum trading days are 3 days.

All evaluation/simulated funded accounts have leverage as below:

1:100 for FX
1:25 for Commodities
1:20 for Indices
1:5 for Cryptocurrency​

We do not limit on the number of evaluation accounts you can have. However, we have a maximum capital allocation limit of $600,000 (prior to scaling) per client at any given time. This can be understood as 3 simulated funded accounts with size $200,000, or 6 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.

Yes, you may initiate KYC anytime after purchasing any challenge, please ensure that you provide genuine and valid legal documents during KYC.

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

At Funded Knight, we trust our clients with their risk management. Clients are free to trade during any news events without restrictions. It is the responsibility of the traders to monitor high-impact news events and plan their trades accordingly.

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.

Specifically, positions held overnight on Wednesday will be subjected to a 3-day swap instead of the usual overnight rollover. To avoid any surprises or unexpected costs, we strongly advise all traders to review their open positions and take necessary actions.

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.

You are free to use any Expert Advisors/Trading Bots to trade evaluation/simulated funded accounts but if there are more than 1 client using the same Expert Advisors/Trading Bots and have similiar entries and exits, it may violate the Prohibited Strategies rule – Engaging in mass organized trades.

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 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. Engaging in mass organized trades:
Mass organized trades are prohibited irrespective of the number of accounts, trade direction, or trade size.

3. HFT (High-Frequency Trading):
High-Frequency Trading (HFT) in any form is prohibited. 

4. 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.

5. Exploit errors or latency in the pricing and/or platform(s) provided by the Broker.

6. Utilize non-public and/or insider information or Front-run trades placed elsewhere.

7. 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 that 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.

8. 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.

There are 2 consistency rules applied to all challenge phase:

Profit Consistency rule:
The profit of the best trading day should NOT exceed 30% of the total profits.

Volume Consistency rule:
Any single trade lot size should NOT exceed 30% of your total lots traded during the challenge.

These consistency rules do not apply to simulated funded account.

During challenge phase, all trades has a Minimum Trade Duration of 2 minutes (either manually or TP/SL being triggered or by EA).

This Anti-Scalping Rule does not apply to simulated funded accounts.

No, there is no lot size limit for all evaluation/simulated funded accounts.

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.

Profit Split

Once you have started trading your simulated funded account, the system will process profit split to your client portal wallet every 7 days if your simulated funded accounts are in profit and no open position.

You can make purchase of new evaluations using credit in your client portal wallet or request withdrawal to RISE. Please note that we do not process withdrawal during weekends/public holidays and they will be processed on the next business day.

Currently, we only process withdrawal via RISE. You can withdraw fiat currency to your bank or cryptocurrency to your wallet from RISE. The process typically take 2-3 business days. We are actively exploring other withdrawal options to bring convenience to our funded traders.

The evaluation fee paid covers your access to our client portal and the evaluation process. The fee is not refundable as they are payment for these provided services.

There is no minimum amount for payout, the system will withdraw any profit every 7 days (all positions must be closed) from your simulated funded account to your client portal wallet.

The minimum amount to request for each withdrawal to RISE is $50.

Other

Any clients who misuse/abuse the wallet feature will get a permanent ban from our services to maintain the integrity and security of our platform. We value your cooperation in keeping our platform safe for everyone.

Certificates will be awarded for successfully passing our evaluation phase, as well as for the payout split. Our system will send the certificate to your email registered with us.

We cannot accept clients who fail KYC (Know Your Customer) or AML (Anti-Money Laundering) checks for several important reasons.

First, it is a legal requirement. Most countries have strict rules to prevent money laundering, fraud, and other financial crimes. Accepting clients who fail these checks can lead to heavy fines, penalties, or even the loss of our license to operate.

Second, these checks protect us from risk. Clients who fail KYC/AML may be involved in illegal activities, which could harm our business or reputation. Working with such clients might damage the trust of other customers and business partners.

Third, regulators often review our compliance with KYC/AML laws. If we are found to have accepted high-risk clients, we could face serious consequences.

Lastly, we have an ethical duty to ensure our services are not used for criminal purposes. This helps build trust with our clients, partners, and the wider community.

By following KYC/AML rules, we stay compliant, protect our business, and contribute to a safer financial system. Accepting clients who fail these checks goes against these goals.

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.