Company Information

Company Name: FirstClass Forex Funds
Company Legal Name: FirstClass Trading Solutions Ltd.
Company Registration Number: Undisclosed
Operating Since: Undisclosed
CEO Name: Undisclosed

Challenge Details

FirstClass Forex Funds offers traders a two-phase challenge, Here are the details :-

Pricing:

The challenge pricing depends on the account size you wish to pursue. Here are the options:

$25,000 Account: $205
$50,000 Account: $315
$100,000 Account: $525
$200,000 Account: $985

Rules:

Profit Target (Phase 1): 10%
Profit Target (Phase 2): 7%
Total Loss: 12%
Daily Loss: 3%
Profit Share: 75% (can go up to 90% after 4 payouts)
Drawdown Type: Static Drawdown
Time Limit: 30 days for Phase 1, 60 days for Phase 2
Leverage: 1:30
Max Lot Size: No limit
Payout Frequency: 30 Days
Allows Copy Trading: Allowed
Minimum Trading Days: 5 Days

Scaling Plan

FirstClass Forex Funds offers a scaling plan where traders who achieve a consistent profit target of 10% over four months while following all risk management rules, will be eligible for a virtual increase in their simulated account. To apply for scaling, traders need to contact customer support for assistance. There is no max scaled up limit mentioned by FirstClass Forex Funds.

Spreads and News Trading Rules

Spreads:

Details on spreads have not been provided.

News Trading Rules:

News trading is prohibited in FirstClass Forex Funds, meaning traders cannot trade during specific high-impact news events. While the exact prohibited window isn't stated, We advise avoiding trades at least one hour before and after a major news release to not trigger any soft breach.

Other Important Rules

Daily Drawdown Calculation:

The daily drawdown is calculated based on either the equity or balance, whichever is higher at the end of the trading day. This ensures a fair evaluation based on account balance and prevents excessive risks in short-term trades.

Countries Banned from Purchasing:

FirstClass Forex Funds restricts clients from certain countries, primarily due to regulatory or geopolitical reasons. The countries currently banned include:

Russia
Cuba
Sudan
Somalia
Iran
Syria
North Korea
Libya
Afghanistan
Burundi
Central African Republic
Republic of Congo, Crimea
Democratic Republic of Congo
Eritrea
Guinea
Guinea Bissau
Iraq
Liberia
Myanmar
Papua New Guinea
South Sudan
Vanuatu
Venezuela
Yemen
Zimbabwe

Prohibited Trading Strategies:

To ensure fairness and risk compliance, FirstClass Forex Funds prohibits specific trading strategies. These include:

Martingale EA’s
Copy trading of others' signals or account management service
Tick scalping
Latency arbitrage trading
Reverse arbitrage trading
Hedge arbitrage trading
Use of emulators
Duplicating strategy settings used by other traders

Payout Methods

FirstClass Forex Funds has not mentioned their payout methods.

Trading Commissions

FirstClass Forex Funds has not provided any information on trading commissions.

IP Rule

IP-Address rules or restrictions have not been mentioned, We adivce traders to use the same device from which they have purchased the challenge.

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