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Karma Prop Traders

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Details About Karma Prop Traders

Legal Name: Karma Prop Traders FZCO
Company Number: 36581
Country of Registeration: AEAE
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:AFCFCGCUGWIRIQKPLYMLPKRUSOSDSYAEUSVEVNYEXK

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
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About Karma Prop Traders

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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.