Overall Rules and Conditions FAQS
Restrictions
At TEFX we do not allow anyone to place more than 20 Lots at any given time. This includes open and pending trades.
Reason
At TEFX we are looking for low to moderate risking traders in which we are able to copy their trading strategies to our corporate trading account.
The higher the lot utilized the higher the slippage.
KYC (Know Your Client)
KYC is very important and is mandatory, KYC enforces AML (Anti-Money Laundering) techniques by requiring PII (Personally Identifiable Information) to be sent to us. This is in order to help us ensure that you are who you say you are.
More than 30 days inactive?
If you are going to be inactive for more than 30 days, please send us a courtesy email or ticket in your dashboard support terminal.
At TradersEdgeFX we allow long-term inactivity. You MUST send a request to support if you would like to stay inactive for an extended period.
If a request is NOT sent to support and your account remains inactive for 30 days, it will be considered a violation, and the simulated account will be breached.
Currently, we do NOT accept clients from the following countries: Afghanistan, Belarus, Bosnia and Herzegovina, Burundi, Cambodia, Central Africa Republic, Cuba, Democratic Republic of Congo, Ethiopia, Eritrea, Guinea Bissau, Guinea, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Malaysia, Mali, Myanmar, Nicaragua, North Korea, North Macedonia, Oman, Papua New Guinea, Republic of Congo, Russia, Serbia, Somalia, South Sudan, Sudan, Syria, Tajikistan, Ukraine (Regions – Crimea, Donetsk, Luhansk), Vanuatu, Venezuela, Vietnam, Yemen, and Zimbabwe.
Why Can’t These Countries Trade With TEFX?
There is an organization in the USA called OFAC and they strictly forbid business with the above countries.
You can request a refund if you have not placed a trade on your simulated trading account within 7 days of purchase.
There is no Refund on passed challenges.
Credit / Debit Card
Crypto- Please ensure you are using the correct currency and gateway.
How can I be paid?
TradersEdgeFX has two payment options.
1. Bank Transfer
2. Crypto
When applying for simulated payout your account will go through a review process, after passing the process the funds will be submitted to the account that was placed at the time you requested payout.
Yes, there is a 6% profit cap on the initial balance, this is in place to ensure that your strategy works long term.
At TEFX we need to see how your strategy works longer term to compare risk vs longevity.
We start looking at your trading patterns as well as your risk patterns around month 2 of having the simulated TEFX account. This was we can test the longevity of the account as well as the strategy deployed.
Around month 3 is when we decide whether or not your strategy is conducive to have trades copied to our company account. The profit cap will be lifted if we decide to copy your trades.
- Copy trading of other persons’ signals and/or Account Management
- Tick scalping.
- Latency arbitrage trading.
- Reverse arbitrage trading.
- Hedge arbitrage trading.
- Any use of emulators.
- Using the same strategy and/or set files of another party.
- HFT Bots are NOT permitted.
- Martingale Bots are NOT permitted.
Please be very careful when using a 3rd party EA, if the set files are anywhere remotely close it will be flagged as trade copying and the account will be breached. The more people using the same strategy increases the risk associated with that strategy, therefore it is prohibited.
Copying in between you accounts
Yes, you can copy trades between your own accounts as long as they are trading in the same direction. No Hedging between accounts is allowed.
Copying between other accounts
You cannot copy between other individual’s accounts as this is counted as copy trading and not allowed.
Trading News
You may not trade 5 minutes before or after any red (Major) news event. This includes opening or closing of any trades. News trading is only a breach if the news has a direct impact to that asset.
You can check HERE to see when there are red folder news events.
Why am I not able to trade during news times?
There are 2 major reasons for not allowing trading during news.
1. Trading during news times severely increases risk associated with the account and is not conducive to what we are looking for at TEFX.
2. There is little to no slippage incorporated within the demo style trading accounts. In a real market scenario, a $300 gain may result in a $200 loss on the company corporate account due to slippage.
What is the Minimum Trade Hold Time
At TEFX we require a minimum hold time of 60 seconds on all trades.
Why is there a minimum hold time?
There are a few reasons we require a minimum hold time.
1. This helps prevent HFT usage on TEFX Accounts
2. Trades held less than 60 seconds is not conducive to copying to our corporate account.
What if I close before one minute
If you do close before 60 seconds.
1st occurrence: Profits will be removed from your account.
2nd occurrence: Profits will be removed from your account, and you will be warned.
3rd occurrence: Account is breached
A trading day is from 0000 – 2359 CEST+3. This is also the time the server resets.
No, you are not required to utilize a Take Profit or Stop Loss. Although we highly recommend it.
Your Same Account
Yes, you can manually hedge in the same account.
Time limit on passing
At TEFX there is no time limit to pass, take the evaluation at your own pace.
More than 30 days inactive
If you are going to be inactive for more than 30 days, please send us a message as a courtesy.
After the first day completed
Daily drawdown is calculated based on the Previous Days Equity at closing (0000 CEST+3)
Daily Drawdown includes open trades when turnover occurs. This is to instill risk management practices within your strategy.
EX 1
Balance 100k + 2k profit in open trades = 102K equity
Daily Drawdown limit 6% of 100K= 6k
102k Equity – 6K = 96K Breach for Drawdown if equity hits this.
First day of purchase
Your first day of trading, drawdown is set at 6% of the initial balance.
You may not have a trade open or close within 2 minutes of NYSE open.
This rule is due to demo environment conditions with virtually perfect execution. These types of strategies are not conducive of long term account retention.