How does The City Trader determine drawdown?

Our drawdowns are calculated as a static value off the beginning capital deposited into your trading accounts and evaluations. For example if you have a $100,000 account your 6% permitted drawdown will remain at $94,000. If you trade the account to 5% in profit your maximum drawdown remains at $94,000.

How does The City Trader determine the maximum daily drawdown?

The maximum daily drawdown is calculated using the equity which resets and the end of the 24 hour trading day.

What does The City Trader's Spread and Commissions mean?

We are partnered with Eightcap as our broker to offer industry leading spreads and commissions for traders. To understand their account offering that we use see here: https://www.eightcap.com/en/trading/trading-conditions/spreads/

In The City Trader, where can I obtain your trading platform?

Platform 4: https://www.eightcap.com/en/trading-platforms/-4/download–4-platform/ DXTrade: https://embedded.dx-eightcap.com.

How frequently may I take money out of The City Trader?

Once you become a live funded trader, you must trade with us for at least 30 active trading days: An active trading day counts when a new trade is opened and not based on its duration. This requirement encourages consistent trading performance: Remember, we are looking to create long term trader success. Not the smash and grab trader”. After the first payout, we will be able to make bi-weekly payouts to traders

When I finish The City Trader's evaluation phase, will I get a certificate?

Yes. Absolutely so you can hang it proudly on your desk as a constant reminder of all your hardwork!

Do we tamper with the prices or executions you get in The City Trader's Funded Account?

No. We operate at arm’s length with the broker. All market pricing and trade executions are provided by the broker and are not changed or modified by us. Additionally, we do not mark up transaction costs established by the broker through adjusting bid-offer spreads, markups/markdowns, commission charges or swaps.

Can I have full access to The City Traders Discord community?

Yes. All Traders trading our assessments and funded accounts are encouraged to hang out in our trading community to share their experiences. https://mee6.xyz/i/8ffmvPJQu2

What is the minimum age requirement to participate in your funded account programme at The City Trader?

You must be at least 18 years of age, or the applicable minimum legal age in your country, to purchase an assessment.

The City Traders Prop Firm Details and Reviews, Legit or Scam?

The City Traders

Email Not Provided

Details About The City Traders

Legal Name: The City Traders Ltd

Company Number: ABN 71 661 045 950

Country of Registeration: GB

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

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

About The City Traders

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.