Company Information

Company Name: Nova Funding
Company Legal Name: Prop Trade Tech Pty Ltd
Company Registration No.: ABN 71 661 045 950
Operating Since: March 8, 2024
CEO Name: Undisclosed

Challenge Details

Pricing

$25,000 Account: $297
$50,000 Account: $397
$100,000 Account: $597
$200,000 Account: $997

Rules

Profit Target: 10%
Total Loss: 8%
Daily Loss: 4%
Profit Share: Starts at 50%, increases up to 80%
Drawdown Type: Trailing Equity Drawdown
Time Limit: Unlimited
Leverage: 1:100
Max Lot Size: No limit
Payout Frequency: Every 14 days
Allows Copy Trading: Yes
Minimum Trading Days: None

Scaling Plan

Currently, Nova Funding does not offer any scaling plan.

Spreads and News Trading Rules

Spreads

Nova Funding has not mentioned the spreads which are applied on their website.

News Trading Rules

Nova Funding has not mentioned any information related to News trading rule on their website.

Other Important Rules

Daily Drawdown Calculation

Nova Funding calculates daily drawdown based on the equity of the account each day at 5:00 PM EST. This drawdown is equity based drawdown which means the drawdown limit can increase or decrease as the account balance grows or shrinks.

Initial Account Balance at Reset Time: This resets daily at 00:00 PM Market Watch Time (5:00 PM EST).
Highest Equity Point of the Day: Ensure your equity doesn’t drop 4% below either the initial balance at reset or the highest equity point within the day.

Countries Banned from Purchasing

Due to U.S. government restrictions, traders from the following countries are prohibited:

Cuba
Iran
Lebanon
Syria
North Korea
Libya
Sudan
Somalia

Prohibited Trading Strategies

To maintain a fair trading environment, the following strategies are not allowed:

Grid Trading: Including the use of grid trading software.
Martingale Trading: Or any tools implementing martingale systems.
Latency Arbitrage: Exploiting delayed data feeds.
Hedging Orders: Across multiple accounts.
News Volatility Exploitation: Using guaranteed limit order fills to profit from news events.
Delayed Data Feeds: Leveraging outdated data for risk-free profits.
Copy Trading Across Accounts: Sharing strategies with other users on the platform.
Third-Party Account Management: Managed accounts by external entities.
High-Frequency Trading (HFT) Bots: Automated systems designed for ultra-high-speed trading.

Payout Methods

Nova Funding offer traders two payout methods for withdrawals :-

Cryptocurrency: USDT-TRC20, USDT-ERC20, or Bitcoin (BTC).
Bank Wire Transfer: Direct bank payouts.

Trading Commissions

Nova Funding has not mentioned the trading commission charged on their trading platform.

IP Rule

Nova Funding allow traders to trade using only one IP Address. Traders are not allowed to trade using multiple accounts and traders are also not allowed to trade one account using multiple IP Addresses.

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