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