The Whale Order is a proprietary trading firm that offers competitive funding opportunities for traders around the globe. With a maximum funding allocation of $2 million per trader and flexible trading rules, this firm is structured to attract serious traders. This article will explore the complete details of The Whale Order, including its evaluation process, trading rules, prohibited trading strategies, and more.
Company Information
- Company Name: The Whale Order
- Company Legal Name: Prop Account, LLC
- Support Email: [email protected]
Challenge Details
The Whale Order offers a 1-Step Challenge that provides traders with a unique and simplified path to funding. Below are the details of the pricing and the rules you need to follow for this challenge.
Pricing
- Size: $25,000 – $250
- Size: $50,000 – $450
- Size: $100,000 – $750
- Size: $200,000 – $1,500
- Size: $400,000 – $3,000
- Size: $500,000 – $3,500
Rules
- Profit Target: 10%
- Daily Loss Limit: 5%
- Maximum Drawdown: 6%
- Profit Share: 75% and can increase up to 90%
- Leverage: Forex, Metals, and Indices are 10:1. Equity Shares are 5:1. Cryptos are 2:1
- Trading Period: Unlimited
- Minimum Trading Days: 0
- Payout Frequency: 30 Days
Scaling Plan
The Whale Order does not offer any scaling plan.
Spreads and News Trading Rules
Spreads
The Whale Order uses RAW accounts provided by ThinkMarkets for Forex and Equity Share CFDs, which means that these accounts come with competitive spreads and commission charges.
News Trading Rules
Traders are allowed to trade during news events. This means you can hold positions during volatile market times, giving you more flexibility to implement your trading strategies.
Other Important Rules
Daily Drawdown Calculation
The daily drawdown is a safeguard to limit losses. It is calculated using the previous day's account balance, reset at 5 PM EST each day. Unlike other firms that use the previous day's equity, The Whale Order uses the account balance, allowing traders to grow their profits while minimizing the risk of losing the entire account.
Countries Banned from Purchasing
Traders from OFAC-listed countries are not allowed to participate in the program. This restriction is standard to maintain compliance with international regulations.
Prohibited Trading Strategies
To ensure a fair and regulated trading environment, The Whale Order prohibits the following strategies:
- Exploiting Errors or Latency: Utilizing any discrepancies or delays in the broker’s pricing.
- Insider Trading: Using non-public or insider information.
- Front-running: Placing orders in anticipation of other trades.
- Broker Relationship Jeopardy: Any strategy that may harm the broker’s reputation or relationship with The Whale Order.
- Third-Party Strategies: Using external strategies or those designed solely for passing challenge accounts.
- Inconsistent Trading: Using one strategy for the evaluation and switching to another post-funding.
- Equity CFD Manipulation: Holding Single Share Equity CFD positions during earnings releases.
- Arbitrage: Attempting to arbitrage between accounts, either with The Whale Order or other firms.
Payout Methods
The Whale Order processes profit withdrawals through Deel, a well-known global payroll and compliance platform. Traders can choose from various withdrawal methods provided by Deel, depending on their country and preference.
Trading Commissions
The Whale Order uses ThinkMarkets' RAW accounts, which carry commission charges for Forex and Equity Share CFDs. Other trading products like indices and cryptocurrencies do not have commission charges.
