To receive a $10,000 prop account in FeneFx, you need to participate in one of the challenges designed by this platform. These challenges are created to assess your trading skills, capital management, and ability to adhere to the rules. Below, all the steps to participate in these challenges, the related rules, and how to purchase a prop account are explained so that you can be fully prepared to start your journey.
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Types of Challenges to Receive a $10,000 Account
FeneFx offers two types of challenges to obtain a $10,000 prop account: a two-step challenge and a one-step challenge. Each of these challenges has its own rules and conditions that you must carefully review and choose based on your abilities and trading style.
Two-Step Challenge
In this challenge, you must successfully pass two stages to access the main account:
1. First Stage:
- Minimum Required Profit: 10% of the initial account balance.
- Minimum Trading Days: 5 days.
- Maximum Daily Risk: 5% of the account balance.
- Maximum Total Risk: 12% of the account balance.
- Time Limit: Unlimited.
2. Second Stage:
- Minimum Required Profit: 5% of the initial account balance.
- Minimum Trading Days: 5 days.
- Maximum Daily Risk: 5%.
- Maximum Total Risk: 12%.
- Time Limit: Unlimited.
Participation Fee: $88
This amount is paid to enter the challenge, and after successfully completing the challenge and making the third withdrawal, the full amount paid will be refunded to you.
One-Step Challenge
This challenge is suitable for those who want to access the main account more quickly. In this challenge, there is only one stage:
- Minimum Required Profit: 12% of the initial account balance.
- Minimum Trading Days: 5 days.
- Maximum Daily Risk: 4% of the account balance.
- Maximum Total Risk: 8% of the account balance.
- Time Limit: Unlimited.
Participation Fee: $114.4
In this challenge as well, the registration fee will be refunded to you after successfully completing the challenge and making the third withdrawal.
How to Participate in the Challenges
To get started, follow these steps:
1. Register on FeneFx
First, visit the official FeneFx website and create a user account. During registration, make sure to enter your personal information correctly to avoid any issues in later stages.
2. Choose the Type of Challenge
After logging into your account, go to the challenges section and select either the two-step challenge or the one-step challenge based on your needs and abilities. Keep in mind that each challenge has different rules that must be strictly followed.
3. Pay the Challenge Fee
Pay the participation fee for the challenge. FeneFx offers various payment methods, including options for payments from within Iran. After payment, your trading account details (such as username and password) will be sent to you to start the challenge.
4. Start Trading
You can now start your trades. Be mindful of the rules regarding maximum daily and total risk, minimum trading days, and profit targets. For example, in the two-step challenge, you must achieve at least 10% profit in the first stage, while in the one-step challenge, this requirement increases to 12%.
Important Rules When Participating in Challenges
1. Daily Drawdown Rule:
- In the two-step challenge, the maximum daily loss is 5%, while in the one-step challenge, it is reduced to 4%.
- This percentage is calculated based on the balance at the beginning of the day, so careful trade volume calculation is essential.
2. Total Drawdown Rule:
- In the two-step challenge, you cannot lose more than 12% of the account balance.
- In the one-step challenge, the total allowed drawdown is limited to 8%.
- Exceeding these limits will result in failing the challenge.
3. Minimum Trading Days:
To successfully complete each stage, you must actively trade for at least 5 trading days. This ensures more stable results and a more accurate evaluation.
Benefits of Receiving a $10,000 Account
After successfully passing the challenge and receiving the main account, you can enjoy the following benefits:
1. High Profit Sharing:
- For the first and second withdrawals, you receive 80% of your profits.
- From the third withdrawal onward, this share increases to 90%.
2. Capital Growth:
- With successful performance, your capital can increase by up to 30%.
3. Challenge Fee Refund:
- The full amount paid for the challenge will be refunded.
4. Support and Training:
- FeneFx provides mentoring sessions, trading psychology training, and capital management education to support you on your journey to success.
Key Tips for Success in the Challenges
- Trading Plan:
- Before starting, develop a well-defined trading strategy that includes risk management and capital control.
- Emotional Control:
- One of the main reasons traders fail is the lack of emotional control.
- FeneFx helps you master trading psychology principles.
- Focus on Rules:
- The challenge rules are strict and precise.
- Even minor violations can result in failing the challenge.
- Utilize FeneFx Support:
- If you have any questions or issues, use FeneFx’s professional support team, available from 8 AM to 12 AM.
Important Notes About Buying an Account
- Choosing a Reliable Broker:
- FeneFx collaborates with trusted global brokers, ensuring the provided accounts are fully reliable.
- Flexible Payment Options:
- Payment from within Iran is possible, with transparent pricing and no hidden fees.
- Reviewing Terms and Conditions:
- Before purchasing, carefully read all challenge rules and conditions to fully understand the details.
By following these steps and tips, you can confidently participate in FeneFx challenges and obtain your $10,000 prop account. This account can be a major step forward in your professional trading career.
