Questions? You’re covered.
In order to become a funded trader, the first step is to choose the assessment tier that fits you best and take the We Fund Traders Audition — an assessment of your skills, risk management, and profitability as a trader. Once you pass the audition, we’ll set you up with a funded account.
It’s that easy.
Unlike other firms, we don’t have a minimum number of days, trading days or unique trades. To pass the We Fund Traders Audition, simply generate a return of 10% in your account while not incurring a daily drawdown of 5% or a maximum trailing drawdown of 6%.
Unlike other prop trading firms that can take 3 to 5 business days or more to review and verify your assessment, We Fund Traders will get you into a funded account within 24-48 hours.
Simply email in your withdrawal request to firstname.lastname@example.org and as long as you have made 10% over 30 days your withdrawal request will be authorised.
First, it’s important to understand that there are two different types of breach: a hard breach and soft breach. A violation of the daily or maximum drawdown constitutes a hard breach. A soft breach occurs if, for example, a trader does not close positions by market close on Friday, or if they place a trade without a stop-loss. If a soft breach occurs, the trade is closed, and the trader can continue to trade.
During the We Fund Traders Audition, in the event of a hard breach, account access will be revoked. If a funded trader incurs a hard breach of the trading rules, trading account access will be revoked. Any profits earned by the trader at that time will be distributed.
In either case, traders can always start again with another We Fund Traders Audition.
If you do not trade in any 30-day period, the account will expire.
For example, if you were $1k in profit your HWM = $26000 (based on $25k account audition).
Maximum Drawdown limit is 6% of starting Balance from HWM = $26000 – 0.06*25000 = $24,500
A trader can have multiple accounts but can only have one account per audition tier. Each account is independent and starts with an audition.
All WeFundTrader Audition accounts are demo accounts with virtual funding. Upon successful completion of the audition, traders receive login credentials to a live trading account with real funds. Traders are then entitled to 90% of profits generated in the live account.
Trading hours are set by our broker, EightCap, and WeFundTraders has no control over them. Traders can locate the specific trading hours for each product on the trading platform under Specifications. This can be navigated to by right-clicking on any product in the Market Watch window of the platform and selecting Specifications from the dropdown menu.
On normal market days Single Stock CFDs open 5 minutes after and close 5 minutes before normal US Stock Market hours. Additionally, holidays can have an impact on available trading hours for all products.
Traders may have a maximum number of open lots with risk equal to 1/10000 the size of their account.
Below are the maximum open lots across all pairs that a trader can have at any given time.
$25K – 2.5 lots with risk
$50K – 5 lots with risk
$100K – 10 lots with risk
$250K – 25 lots with risk
$500K – 50 lots with risk
$1 million – 100 lots with risk
Note: These are the maximum available lots with risk, your account still has margin requirements and you may not be able to trade up to the maximum lots listed above if you do not have the margin available.
For example, if you are in the $100k plan you will have 10 open lots with risk available.
If you buy 5 lots of EURUSD at 1.20 and your stop loss is at 1.18, you would have 5 lots on with risk, so you would have 5 still available. If the EURUSD moves up to 1.25, and you update your stop loss to be at 1.20, which would be your open price, you no longer have risk on that trade. So, you would again have 10 lots available, even though you currently have 5 lots open.
In the event that you put on too many trades with risk, then our system will liquidate all trades that currently have risk.
This is only considered a soft breach though, which means, even though you violated the rule, you can continue on trading, and should you reach your 10% profit target (without violating daily or maximum loss limits), you would be upgraded to a live funded account.
But what constitutes a lot?
Forex – 1 lot = $100k notional
Index – 1 lot = 10 Contracts
Cryptos – 1 lot = 1 coin
Stocks – 1 lot = 100 shares
Silver – 1 lot = 5000 ounces
Gold – 1 lot = 100 ounces
Oil – 1 lot = 100 barrels
We do not limit your trading style or strategy, in any way. Whether your strategy involves discretionary trading, hedging, algorithmic trading, or anything else, you can use it with WeFundTraders. The only requirements are adherence to the trading rules.
Forex, Metals, Oils and Indices receive up to 10:1 leverage. Individual stocks receive 5:1 leverage. Cryptocurrencies receive 2:1 leverage. Traders can purchase an add-on at checkout to increase leverage on forex and metals to 20:1.
You just request your profits by emailing email@example.com and when approved profits will be distributed typically within 24 hours.
The relationship between a trader and WeFundTraders is based on the contract agreement agreed to by you at the time you sign up for your audition. This agreement is legally binding to both parties.
There are a few reasons.
First and foremost, the fee covers various operating expenses for WeFundTraders — including technology platforms, personnel, customer service functions, marketing and all the healthy expenditures that make a company strong.
In addition, the fee ensures that the trader is committed to the process and committed to successful, disciplined trading practices. When a trader has skin in the game, so to speak, they are incentivized to treat their account responsibly and with the utmost care. After all, the fee is but a small token of commitment rewarded with hundreds of thousands of dollars in real capital to trade. The best part of this arrangement for traders is that it is the only capital they risk. Traders cannot lose more than this fee, as losses on a live funded account are covered by WeFundTraders.
The WeFundTraders Audition fee serves as a filter for serious traders. The WeFundTraders community only works when it is comprised of experienced traders that can consistently generate a profit. With limited resources, the WeFundTraders Audition process reveals those who are committed and responsible traders.
At the end of the day, the WeFundTraders program is an extremely valuable service — a win-win for everyone — and the service is accurately priced to support a symbiotic relationship.