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The City Traders

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GB

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Details About The City Traders

Legal Name: The City Traders Ltd
Company Number: ABN 71 661 045 950
Country of Registeration: GBGB
CEO: Andrew Lockwood
Support Mail: Not available
Phone: Not available
Payment Modes: Crypto, Credit/Debit Card
Withdrawal Methods: Crypto, Deel
Website: https://thecitytraders.com
Banned Countries:

Challenge Details at The City Traders

Types of Challenges: One Phase Challenge
Trading Platforms: DXTrade, Metatrader
Trading Instruments: Forex, Crypto, Indices, Commodities
Broker: Eightcap
Max Allocation: $100,000
Scaling: $Not available
Trading Competitions: Does not organize Trading Competitions
Free Trials: Does not offer free Trials
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About The City Traders

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The City Traders Ltd, established on August 8, 2019, and headquartered in London, UK, is a premier proprietary trading firm led by CEO Andrew. It offers a unique, one-step challenge program designed for aspiring prop traders to build a sustainable and profitable career. The program includes a single assessment phase with a 10% profit target, a 6% static maximum drawdown, and a 4% daily drawdown. Participants enjoy the flexibility of weekend holding and news trading with no time limits, leveraging up to 1:10, and an attractive 80% profit share. Account sizes range from $10,000 to $100,000, catering to various trader needs.

Company Information

  • Company Name: The City Traders
  • Company Legal Name: The City Traders Ltd
  • Company Registration No.: [Information not provided]
  • Operating Since: August 8, 2019
  • CEO Name: Andrew Lockwood
  • Registered in: London, UK

Challenge Details

Pricing:

  • Size: $10,000Price: $110
  • Size: $15,000Price: $125
  • Size: $25,000Price: $225
  • Size: $50,000Price: $350
  • Size: $75,000Price: $500
  • Size: $100,000Price: $600

Rules:

  • Profit Target: 10%
  • Total Loss: 6%
  • Daily Loss: 4%
  • Profit Share: 80%
  • Drawdown Type: Static Based Drawdown
  • Time Limit: Unlimited
  • Leverage: 1:10
  • Max Lot Size: No max lot size rule
  • Payout Frequency: 14 days
  • Allows Copy Trading: Yes
  • Min Trading Days:
    • 4 trading days in the evaluation phase
    • 30 active trading days for Day Traders
    • 20 active trading days for Swing Traders

Scaling Plan

The City Trader does not offer any scaling plan as of now.

Spreads and News Trading Rules

Spreads:

The City Traders partners with Eightcap as their broker to provide industry-leading spreads and commissions. To see live spreads, Traders can go through this link : https://www.eightcap.com/en/trading/trading-conditions/spreads/

News Trading Rules:

Traders at The City Traders are allowed to trade during news events. However, it’s crucial to remain diligent. High-impact news can lead to increased volatility and wider spreads, so practicing effective risk management is essential.

Other Important Rules:

Daily Drawdown Calculation:

The maximum daily drawdown is calculated based on equity that resets at the end of the 24-hour trading day. Understanding this metric helps traders manage their risk effectively.

Countries Banned from Purchasing:

The City Traders does not offer their services to all the OFAC sanctioned countries.

Gambling Rules:

The City Traders maintains a professional trading environment. Any activities deemed as gambling will not be tolerated, and appropriate actions will be taken if rules are violated.

Prohibited Trading Strategies:

While EAs (Expert Advisors) and indicators are allowed with certain restrictions, The City Traders prohibits several trading strategies in the funded stage. These include:

  • High-frequency trading (manually or using a bot)
  • Hedge arbitrage trading
  • Tick scalping
  • Grid Trading
  • Martingale
  • One-sided betting
  • Latency arbitrage trading
  • Reverse arbitrage trading
  • Copying trades from other traders

Using any of the above strategies may result in account termination.

Payout Methods:

The City Traders provides two payout methods :

  • Bank Transfer
  • Cryptocurrency

Trading Commissions:

The City Traders has not clearly mentioned the trading commission for each asset type. 

Account Sharing Rule:

To maintain security and compliance, The City Traders has strict rule that traders are not allowed to share their accounts to any third party service or a person.