Audacity Capital’s Funded Trader Program offers an exciting opportunity for traders to access capital without going through a lengthy evaluation phase. Here’s a straightforward look at what this program entails and what you need to know to make the most of it.
What is the Funded Trader Program?
Audacity Capital’s Funded Trader Program is designed for traders who want to manage a trading account without the usual evaluation process. Instead of spending time proving your trading skills, you can start trading right away with your desired capital.
How Does It Work?
The program is focused on your trading performance and following certain rules while also providing you instant funding rather than a formal evaluation. This means you can jump straight into trading with funded capital and making profits without delays.
Profit Targets and Withdrawals
Although there’s no evaluation phase with a profit target, you still need to achieve a 10% profit before you can withdraw any money. This ensures that traders are performing well and consistently.
Daily Drawdown Limits
The program sets a daily drawdown limit of 5% based on equity. This means that if your equity decreases, the drawdown limit adjusts accordingly. Keeping track of your equity is crucial to avoid hitting this limit.
Maximum Drawdown
There’s a maximum drawdown limit of 10%, based on your initial balance. This absolute drawdown limit does not change with fluctuations in your equity, giving you a clear boundary for potential losses.
Minimum Trading Days
You need to trade for at least 5 trading days and show that you're profitable on at least 3 of those days. This ensures that you’re not only active but also achieving positive results.
Flexibility in Trading Days
One of the benefits of the Funded Trader Program is that there’s no upper limit on how many trading days you can use. You can trade at your own pace and take as much time as you need to meet the program’s requirements.
Profit Sharing and Payouts
Audacity Capital offers up to 80% of the profits to traders, which is a generous share. Payouts are made bi-weekly, so you receive your earnings every two weeks, keeping your cash flow steady.
Trading Conditions
The program offers leverage of 1:30 on various trading instruments, including major and minor forex pairs, Gold, and indices like the DAX, S&P500, US30, and NAS100. This leverage helps you manage larger trades with less capital.
News Trading Restrictions
News trading is not allowed. You must wait for 30 minutes after a news release before entering trades. This rule helps avoid the volatility that often accompanies news events.
Holding Trades Overnight and Over the Weekend
You can hold trades overnight and over the weekend without needing special approval. This flexibility is useful for traders who use longer-term strategies.
Account Sizes
You can choose from three account sizes: $7,500, $15,000, and $60,000. The right account size depends on your trading strategy and how much capital you need.
Conclusion
Audacity Capital’s Funded Trader Program simplifies the process of accessing trading capital by removing the evaluation phase. With flexible trading days, a generous profit share, and straightforward rules, it offers a great opportunity for traders who want to focus on their trading without added pressure.