Details About Karma Prop Traders
Legal Name: Karma Prop Traders FZCO
Company Number: 36581
Country of Registeration: AE
CEO: Eshan Bala
Support Mail: [email protected]
Phone: Not available
Payment Modes: Crypto, Credit/Debit Card
Withdrawal Methods: Rise, Crypto
Website: https://karmaproptraders.com/
Banned Countries:
Challenge Details at Karma Prop Traders
Types of Challenges: Two Phase Challenge
Trading Platforms: cTrader
Trading Instruments: Forex, Commodities, Indices, Crypto
Broker: Purple Trading
Max Allocation: $100,000
Scaling: $200,000
Trading Competitions: Does not organize Trading Competitions
Free Trials: Does not offer free Trials
About Karma Prop Traders
Karma Prop Trader was a prop trading firm focused on sustainability and transparency which offered traders the chance to trade with real capital after passing their challenges.
Company Information
Company Name: Karma Prop Trader
Company Legal Name: Karma Prop Traders FZCO
Company Registration No.: 36581
Country of Registration: United Arab Emirates
CEO Name: Eshan Bala
Challenge Details
Karma Prop Trader offered two challenge programs, Stability Challenge and the Action Challenge.
Stability Challenge
Pricing:
- Size: $10,000 - $59
- Size: $25,000 - $135
- Size: $50,000 - $245
- Size: $100,000 - $389
Rules:
- Profit Target (Phase 1): 6%
- Profit Target (Phase 2): 6%
- Max Drawdown: 8%
- Daily Drawdown: 4%
- Profit Share: 80%
- Drawdown Type: Balance-based
- Time Limit: Unlimited
- Leverage: 1:100
- Payout Frequency: 10 business days for the first payout, 4 business days for subsequent payouts
- Allows Copy Trading: Yes
- Minimum Trading Days: None
- Scaling Plan: Yes
Action Challenge
Pricing:
- Size: $10,000 - $70
- Size: $25,000 - $160
- Size: $50,000 - $295
- Size: $100,000 - $460
Rules:
- Profit Target (Phase 1): 8%
- Profit Target (Phase 2): 4%
- Max Drawdown: 8%
- Daily Drawdown: 4%
- Profit Share: 80%
- Drawdown Type: Balance-based
- Time Limit: Unlimited
- Leverage: 1:100
- Max Lot Size: N/A
- Payout Frequency: 10 business days for the first payout, 4 business days for subsequent payouts
- Allows Copy Trading: Yes
- Minimum Trading Days: None
- Scaling Plan: Yes
Spreads and News Trading Rules
Spreads:
Karma Prop Trader offered competitive spreads.
News Trading Rules:
News trading was allowed during evaluation Phases. however, during the Funded Phase, traders could not place or modify trades 4 minutes before and after high-impact news events.
Other Important Rules
Daily Drawdown Calculation:
Daily Drawdown was calculated based on equity based drawdown, which means the drawdown limit will keep recalculating based on the account size or floating balance.
Countries Banned from Purchasing:
Traders from the following countries are not eligible for Karma Prop Trader’s services:
- Afghanistan
- Central African Republic
- Congo (Brazzaville)
- Cuba
- Iran
- Iraq
- Korea (North)
- Libya
- Pakistan
- Russia
- Sudan
- Syria
- United States
- Venezuela
Prohibited Trading Strategies:
- High-Frequency Trading (HFT)
- Grid Trading
- Arbitrage
- Account sharing
- Opposite Account Hedging / Group Hedging
Payout Methods
Karma Prop Trader offered two payout methods.
- Rise
- Cryptocurrency
Trading Commissions
Karma Prop Trader keeps trading commissions low, offering traders a competitive edge.
- Stability Challenge: $3 per standard lot (round turn) for Forex and commodities
- Action Challenge: $5 per standard lot (round turn) for Forex and commodities
- No commission is charged on indices and crypto.
Company Legal Name: Karma Prop Traders FZCO
Company Registration No.: 36581
Country of Registration: United Arab Emirates
CEO Name: Eshan Bala