Prop accounts, especially the $20,000 FeneFx account, offer a unique opportunity for traders looking to secure funding and profit from professional trading. This article will provide all the necessary details regarding challenges, rules, and how to purchase this account so that you can easily start your journey towards obtaining this account.
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Choosing the Type of Challenge: Two-Step or One-Step?
Before anything else, you must choose the type of challenge you wish to take. FeneFx offers two types of challenges for the $20,000 account:
- Two-Step Challenge: Suitable for traders aiming for funding with more flexible rules.
- One-Step Challenge: Ideal for traders who want to reach the funded account faster by completing a single challenge step.
Each of these challenges has specific rules and conditions, which will be explained below.
Rules and Conditions of the Two-Step Challenge
The Two-Step Challenge consists of two main phases, each requiring the achievement of specific targets.
Phase One
- Profit Target: 10% of the initial account balance.
- Minimum Trading Days: 5 days.
- Maximum Daily Drawdown: 5% of the starting day’s balance.
- Maximum Overall Drawdown: 12%.
- Time Limit: Unlimited.
Phase Two
- Profit Target: 5%.
- Minimum Trading Days: 5 days.
- Maximum Daily Drawdown: 5%.
- Maximum Overall Drawdown: 12%.
- Time Limit: Unlimited.
Funded Account Features After Passing the Two-Step Challenge
- Maximum Profit Split: 90%.
- Scaling Plan: 30% capital increase after successful trading cycles.
- Minimum Trading Days: 10 days.
- Registration Fee: $138.
Rules and Conditions of the One-Step Challenge
The One-Step Challenge is the fastest way to obtain a $20,000 prop account. The conditions for this challenge are as follows:
Challenge Stage
- Profit Target: 12% of the initial account balance.
- Minimum Trading Days: 5 days.
- Maximum Daily Drawdown: 4%.
- Maximum Overall Drawdown: 8%.
- Time Limit: Unlimited.
Funded Account Features After Passing the One-Step Challenge
- Maximum Profit Split: 90%.
- Scaling Plan: 30% capital increase after successful trading cycles.
- Minimum Trading Days: 10 days.
- Registration Fee: $179.4.
How to Buy and Register for the Challenge
To purchase the $20,000 prop account from FeneFx, follow these steps:
- Visit the FeneFx Website: Go to the official FeneFx website. This platform fully supports Persian-speaking users.
- Choose the Type of Challenge: Based on your skills and trading strategy, select either the Two-Step or One-Step challenge.
- Pay the Challenge Fee: After selecting the challenge, make the payment. The fees are $138 for the Two-Step Challenge and $179.4 for the One-Step Challenge.
- Receive Challenge Account Information: After payment, you will receive details of the challenge account. You must follow the provided rules to successfully complete the challenge.
Important Tips for Passing the Challenges
To successfully pass the FeneFx challenges and obtain a funded account, the following must be considered:
Risk Management and Capital Control
- In the Two-Step Challenge, the maximum daily drawdown is 5%, and in the One-Step Challenge, it is 4%. Exceeding these limits will result in failure.
- The maximum overall drawdown is 12% for the Two-Step Challenge and 8% for the One-Step Challenge, so risk must be managed carefully.
Commitment to Minimum Trading Days
- In each phase, you must trade for at least 5 days. Placing high-volume trades in a single day will not meet this requirement.
Profit Target
- In Phase One of the Two-Step Challenge, you need to achieve 10% profit, and in Phase Two, 5%.
- In the One-Step Challenge, the profit target is 12%.
Unlimited Time Limit
- FeneFx does not impose a time limit for completing challenges, allowing you to strategize without pressure.
Support and Training
- FeneFx provides training on risk management and trading psychology, increasing your chances of passing the challenge.
Benefits of Joining FeneFx
FeneFx is more than just a prop firm; it supports traders in achieving success. Some benefits include:
✅ Persian Support: The FeneFx support team is available from 8 AM to midnight. ✅ High Profit Split: Traders can receive up to 90% of their trading profits. ✅ Capital Growth: After successful trading periods, account balance increases by 30%. ✅ Education and Mentoring: FeneFx offers comprehensive training sessions for risk management and strategy improvement.
What Happens If You Fail the Challenge?
If you fail the challenge, don’t worry. FeneFx allows traders to retake the challenge with a 5% discount, giving you another chance to succeed with more experience.
Profit Withdrawal and Registration Fee Refund
One of the unique features of FeneFx is the refund of the registration fee. After passing the challenge and making the third withdrawal, your initial payment will be fully refunded. Additionally:
- First and Second Withdrawals: 80% of the profit is yours.
- From the Third Withdrawal Onward: 90% of the profit belongs to you.
Key Takeaways
✔ The Two-Step Challenge is suitable for traders looking for more flexible rules, while the One-Step Challenge is ideal for those who want faster access to a funded account. ✔ Following risk management rules and meeting the minimum trading days requirement ensures success. ✔ Using FeneFx support and training helps traders enhance their performance and achieve consistent profitability. ✔ Passing the challenges grants access to high profit splits and capital growth opportunities.
By following these steps and guidelines, you can successfully participate in FennFix challenges and obtain your $20,000 prop account.
