Step 1: Choosing the Type of Challenge
fenefx offers two types of challenges to obtain the $250,000 account: a two-step challenge and a one-step challenge. Each challenge has its own specific rules, and you can choose based on your abilities and trading style.
Two-Step Challenge
- This challenge consists of two stages. In the first stage, you must achieve a 10% profit, and in the second stage, a 5% profit.
- A minimum of 5 trading days is required for each stage.
- Maximum daily allowable risk:5%
- Maximum overall allowable risk:12%
- Participation fee:$998
One-Step Challenge
- This challenge consists of only one stage, where you must achieve a 12% profit.
- A minimum of 5 trading days is required.
- Maximum daily allowable risk:4%
- Maximum overall allowable risk:8%
- Participation fee:$1,297.4
Note
Both challenges have no time limit, so you can implement your trading strategy without worrying about time constraints.
Step 2: Registration and Purchasing the Challenge
To start the process, you first need to register on theFenefxwebsite. After creating an account and completing your personal information, follow these steps:
Selecting the Challenge
- Log in to your user panel and select the$250,000 challengefrom the available options.
- Choose the challenge type (two-step or one-step) based on your abilities.
Making the Payment
- Pay the required challenge fee through the available payment methods on the website (such as currency payments or local methods).
- After completing the payment, you will receive a confirmation, and thedemo account credentialswill be sent to you to begin the challenge.
Receiving Challenge Account Details
- You will receive the demo account details, includinguser name, password, and broker server information.
- This account is specifically designed for the challenge, and all your trades must be executed within this account.
Step 3: Completing the Challenge and Following the Rules
To succeed in this challenge, you must strictly adhere to the established rules and limitations. Below are key guidelines to ensure success:
Achieving Profit Targets
- Two-Step Challenge:
- Stage 1:Achieve a10% profit.
- Stage 2:Achieve a5% profit.
- One-Step Challenge:
- Achieve a12% profit.
Daily Risk Management
- In thetwo-step challenge, you must not lose more than5%of your account balance in a single day.
- In theone-step challenge, the daily loss limit is4%.
Overall Risk Management
- Themaximum overall drawdownin thetwo-step challengeis12%of the initial account balance.
- In theone-step challenge, the limit is8%.
- Exceeding these limits will result in elimination from the challenge.
Minimum Trading Days
- Inboth challenges, you must trade for at least5 days.
- This means that even if you reach the profit target earlier, you must continue trading for the required number of days.
Using Your Own Trading Strategy
- You are free to useany trading strategyyou prefer, butstrict capital managementis essential.
Note
Throughout the challenge,Fenefx support teamwill be available to assist you. If you have any questions or encounter any issues, you can contact the support team.
Step 4: Receiving the Funded Account
After successfully completing the challenge, you will be awarded a$250,000 prop account. At this stage, you will be recognized as a professional trader and can start trading with this account. However, before you begin, you should be aware of the following key points:
Profit Sharing
First and second withdrawals:
- 80% of the profitgoes to you, while20%is allocated toFenefx.
From the third withdrawal onwards:
- 90% of the profitwill belong to you.
Capital Scaling
- If you demonstrateconsistent performance, your capital canincrease by 30%in future evaluation periods.
Financial and Educational Support
- TheFenefx teamwill support you by providingmentorship sessionsandtrading toolsto further enhance your skills.
Key Tips for Success in the Challenge
Adhering to Drawdown Rules
- Daily and overall drawdownare among the most critical factors in this challenge. Alwaysadjust your trade riskcarefully to ensure you do not exceed the limits.
Proper Risk Management
- Risk managementis essential for passing the challenge. It ishighly recommendedto develop awell-structured risk management strategybefore starting.
Focus on Consistency and Discipline
- The main objective of this challenge is toidentify disciplined traders. Avoidimpulsive decisions and unplanned trades.
Utilizing Support Services
- If you have any uncertainties, reach out to theFenefx support team. They are availablefrom 8 AM to midnightto assist you.
Benefits of Using a Fenefx Prop Account
After receiving yourprop account, you will have access to exclusive benefits, including:
Trading with Leading Global Brokers
- Fenefxpartners withtop-tier global brokers, allowing traders to execute tradesseamlessly, even from within restricted regions like Iran.
Advanced Training Programs
- Fenefxofferscomprehensive educational coursescoveringtrading strategies, risk management, and market psychology.
Challenge Fee Refund
- Aftersuccessfully completing the challenge and reaching your third with drawal,the full amount of your challenge feewill be refunded to you.
By following these steps, you caneasily obtain your $250,000 prop account on Fenefxand embark on your journey as aprofessional trader.
