How to Purchase a $1 Million Prop Account on Fenefx
To acquire a $1 million prop trading account through the Fenefx platform, you must go through specific steps, including participating in challenges designed by the platform. These challenges help you demonstrate your skills and capital management, ultimately granting you access to a prop trading account. In this article, we will provide a comprehensive, step by step guide on how to participate in these challenges and purchase this account.
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Understanding Fenefx Challenges for Prop Accounts
The Fenefx platform offers two main challenge types to assess traders’ skills and discipline: the two step challenge and the one step challenge. Each of these challenges comes with specific rules and conditions that must be carefully followed. The choice of challenge depends on your level of readiness and experience.
Two Step Challenge
This type of challenge consists of two stages and is designed for traders who want to prove their trading skills with focus and planning. To qualify for the $1 million account, you must meet the following conditions in each stage:
Step One:
In this step, you must achieve a minimum profit of 10% without exceeding the predefined limitations. The minimum number of trading days required is five, and you can complete this step without any time restrictions. The most critical rule is adhering to the maximum daily drawdown of 5% and the overall maximum drawdown of 12%.
Step Two:
In this step, your goal is to achieve a 5% profit. The risk management rules remain the same as in the first step, and the minimum number of trading days required is also five.
Upon successfully completing both steps, you will be granted access to the $1 million funded trading account.
One Step Challenge
This challenge is designed for traders who want to gain access to a prop account more quickly. In this format, there is only one stage for evaluation:
- The goal is to achieve a 12% profit.
- The minimum number of trading days required is five, and there is no time limit to complete the challenge.
- The maximum daily drawdown is 4%, while the overall maximum drawdown is 8%.
Upon successfully completing this stage, you will be granted access to the $1 million funded trading account.
Challenge Participation Fees
To participate in the challenges and obtain a $1 million prop trading account, you are required to pay a specific fee:
- Two Step Challenge Fee: $3,680
- One Step Challenge Fee: $4,784
This fee is considered your initial investment, and if you successfully complete the challenge and reach the third withdrawal stage, the amount you paid will be refunded.
How to Purchase a Challenge and Start the Process
To purchase a challenge and begin the process of obtaining a prop trading account, follow these steps:
1. Choose the Type of Challenge
First, decide whether to participate in the two step challenge or the one step challenge. Your choice depends on your skills, experience, and trading strategy:
If you prefer a structured, step by step approach, the two step challenge is the better option.
If you have more experience and want to access the prop account faster, the one step challenge is ideal.
2. Register on the Fenefx Platform
To join the challenge, you need to register on the official Fenefx website. You will be required to provide: Your name, Your email address, Payment details.
Once your registration is complete, you will gain access to your user dashboard.
3. Pay the Challenge Fee
After selecting your challenge type, you must pay the required fee. This payment is part of the evaluation process to verify your trading skills and risk management abilities.
4. Receive Your Challenge Account Details
Once your payment is confirmed, you will receive your challenge account details via email or through your user panel. These details include: login credentials for your trading account and Broker information for the challenge account
It is important to note that all trades executed in this account will be monitored by Fenefx to ensure compliance with challenge rules.
How to Purchase a Challenge and Start the Process
To purchase a challenge and begin the process of obtaining a prop trading account, follow these steps:
1. Choose the Type of Challenge
First, decide whether to participate in the two step challenge or the one step challenge. Your choice depends on your skills, experience, and trading strategy:
If you prefer a structured, step by step approach, the two step challenge is the better option.
If you have more experience and want to access the prop account faster, the one step challenge is ideal.
2. Register on the Fenefx Platform
To join the challenge, you need to register on the official Fenefx website. You will be required to provide: Your name, Your email address, Payment details. Once your registration is complete, you will gain access to your user dashboard.
3. Pay the Challenge Fee
After selecting your challenge type, you must pay the required fee. This payment is part of the evaluation process to verify your trading skills and risk management abilities.
4. Receive Your Challenge Account Details
After completing the payment, your challenge account details will be provided to you via email or your user dashboard. These details will include your trading account login credentials and broker information. Please note that all your trades in this account will be monitored by Fenefx to ensure compliance with the challenge rules.
Rules and Key Points in Challenges
- Risk Limits
Adhering to risk management rules is one of the most important aspects of Fenefx challenges. You must ensure that on each trading day, your maximum risk exposure does not exceed 5% of capital (for the two step challenge) or 4% of capital (for the one step challenge). Additionally, the total drawdown must not exceed 12% (for the two step challenge) or 8% (for the one step challenge).
- Minimum Trading Days
To pass each stage, you must have at least five active trading days. This rule is designed to ensure the consistency and discipline of traders.
- Profit Target
To progress through the challenge stages, you must achieve the predefined profit targets. The required profit is: 10% in Stage 1 of the two step challenge, 5% in Stage 2 of the two step challenge, 12% in the one step challenge
- Time Limit
One of the significant advantages of Fenefx challenges is the absence of a time limit for completing the stages. This feature allows you to trade without time pressure, enabling focused and well planned trading.
Fenefx Support During Challenges
One of the key features of Fenefx is its comprehensive support for traders throughout the challenges. This platform provides the necessary tools and training to help you trade with greater confidence. These services include:
Capital Management Training
During the challenge, Fenefx teaches you capital management principles to help you properly manage your risks.
Trading Tools
Advanced market analysis tools are provided to enhance the accuracy of your trades.
Professional Support
Fenefx experts are available from 8 AM to 12 AM to answer your questions. This support ensures that you can make the best decisions in case of any challenges.
Benefits of Receiving a $1 Million Prop Account
After successfully completing the challenges and obtaining a prop account, you can take advantage of several benefits:
High Profit Sharing
In the first and second withdrawals, 80% of the profit is allocated to you. From the third withdrawal onward, this percentage increases to 90%.
Capital Growth
With positive performance, there is an opportunity to increase capital by 30% in each cycle.
Challenge Fee Refund
After the third withdrawal, the entire challenge fee will be refunded to your account.
