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.