Company Information

Company Name: FXRK
Company Legal Name: X SHARPE LLC
Company Registration No.: 7357486
Operating Since: 12 September 2023
Country of Registration: United States of America
CEO Name: Undisclosed

Challenge Details

FXRK offers two types of challenges to help traders secure funded accounts: the One-Step Challenge and the Two-Step Challenge. Here are the details :-

One-Step Challenge

Pricing:

• $5,000 Account: $39
• $15,000 Account: $59
• $25,000 Account: $99
• $50,000 Account: $159
• $100,000 Account: $349
• $200,000 Account: $799

Rules:

• Profit Target: 10%
• Total Loss: 6%
• Daily Loss: 3%
• Profit Share: 80% (up to 90% with scaling)
• Drawdown Type: Balance-based
• Time Limit: Unlimited
• Leverage: 1:100
• Max Lot Size: No limit
• Payout Frequency: Every 7 days
• Allows Copy Trading: Yes
• Minimum Trading Days: 3

Two-Step Challenge

Pricing:

• $5,000 Account: $39
• $15,000 Account: $59
• $25,000 Account: $99
• $50,000 Account: $159
• $100,000 Account: $349
• $200,000 Account: $799

Rules:

• Profit Target (Phase 1): 8%
• Profit Target (Phase 2): 5%
• Total Loss: 10%
• Daily Loss: 5%
• Profit Share: 80% (up to 90% with scaling)
• Drawdown Type: Balance-based
• Time Limit: Unlimited
• Leverage: 1:100
• Max Lot Size: No limit
• Payout Frequency: Every 7 days
• Allows Copy Trading: Yes
• Minimum Trading Days: 3

Scaling Plan

FXRK offers a fairly simple scaling plan that allows traders to grow their accounts up to $1.5 million.

Eligibility Criteria:

• Traders will have to achieve a 10% profit over 4 consecutive months.
• Traders will also have to withdraw at least two payouts during this period.

Increment : 

• The account size will be increased by 25% of the initial balance.
• Profit Split will be increased from 80% to 90%.

Spreads and News Trading Rules

Spreads:

FXRK has partnered with IC Markets to provide spreads as low as 0.1 Pips.

News Trading Rules:

FXRK permits traders to trade during news events and also hold their positions.

Other Important Rules

Daily Drawdown Calculation:

The daily drawdown is calculated based on the higher of equity or balance at the end of the day and is aligned with the following time zones:

• During Summer Season: GMT+3
• Winter: GMT+2

The Daily Drawdown type is Equity-based Drawdown which means the Daily Drawdown limit can change based on PnL of the account.

Countries Banned from Purchasing:

FXRK does not offer their services in these following countries:

• North Korea
• Democratic Republic of the Congo
• Iran
• Libya
• Somalia
• South Sudan
• Sudan
• Yemen
• United Arab Emirates (UAE)

Prohibited Trading Strategies

To maintain fair practices, FXRK does not allow:

• Tick scalping
• Reverse arbitrage
• Autotrading with certain strategies
• Latency exploitation
• High-frequency Trading
• Use of emulators
• Reverse arbitrage trading
• Hedging and hedge trading
• Tick scalping
• Martingale and grid strategies
• Latency trading
• Hyperactive trading
• Account sharing
• Exploiting server errors or platform vulnerabilities

Failure to adhere to these rules may result in warnings, profit adjustments, or account closure.

Payout Methods

FXRK provide payouts through the following payout methods:

• Wise
• Crypto
• Bank Transfer

Trading Commissions

Though FXRK has not mentioned their trading commissions charged on their trading platform.

IP Rule

To ensure account integrity, FXRK enforces a strict IP policy:

• Traders should use a single device and IP address for trading activities.
• In exceptional cases requiring multiple IPs, proof (e.g., plane ticket or passport) may be requested.
• Violations may result in warnings, profit adjustments, or account closures.