What is Prop Trading?
FXCI prop trading firm offers funded accounts up to $200,000 in Nigeria. Earn up to 85% profit trading with FXCI’s capital.
We provide aspiring traders with the chance to trade using our capital, not their own. This allows access to larger trading positions and the potential for substantial profits. Successful traders share a portion of their earnings with us, creating a mutually beneficial partnership. Our program is designed to identify and support disciplined, consistent traders.
Understanding FXCI Prop Trading
Prop trading, or proprietary trading, is a system where a firm, in this case FXCI, provides traders with capital to trade financial markets. Traders don’t risk their personal funds; instead, they use the firm’s money. This offers access to significantly larger trading sizes than would be possible with personal capital. In return for this access, FXCI receives a percentage of the profits generated.
FXCI's Prop Trading Challenges: A Step-by-Step Guide
We evaluate traders’ skills and risk management through challenges. These challenges test your ability to achieve profit targets while adhering to specific risk parameters. Successful completion of a challenge grants access to a funded trading account. We offer two main challenge types: Boosted and Unlimited.
| Challenge Type | Phases | Minimum Trading Days | Profit Target | Maximum Drawdown | Maximum Daily Loss | Account Sizes Available (USD) | Refundable Fee (USD) |
| Boosted | 1 | 3 | 10% | 5% | 3% | $5,000 – $200,000 | $59 – $959 |
| Unlimited | 2 | 0 | Phase 1: 8%, Phase 2: 5% | 10% | 5% | $5,000 – $200,000 | $49 – $949 (Free for some) |
Here’s how to participate:
- Sign Up: Create an account on our platform.
- Choose a Challenge: Select a challenge that aligns with your trading experience and capital requirements.
- Fund Your Account: Pay the challenge fee. This fee is often refunded upon successful completion and first withdrawal.
- Begin Trading: Start trading according to the challenge rules.
- Complete the Challenge: Meet the profit target and stay within the specified risk limits.
- Receive Funding: Upon successful completion, you’ll receive a funded trading account.
Trading Instruments and Platform Access
| Instrument Type | Examples | Leverage |
|---|---|---|
| Forex | EUR/USD, GBP/USD, USD/JPY | Up to 1:100 |
| Indices | S&P 500, Nasdaq 100, DAX 30 | Up to 1:50 |
| Commodities | Gold, Silver, Crude Oil | Up to 1:50 |
| Metals | Gold, Silver, Platinum | Up to 1:50 |
Payment Methods and Profit Sharing
We offer a variety of secure and convenient payment options to facilitate deposits and withdrawals.
- Bank Transfers
- Coinbase
- JCB
- PayPal
- AstroPay
- WebMoney
- AdvCash
- Credit/Debit Cards
- Bitcoin
- Other Cryptocurrencies
Our profit-sharing model is designed to be competitive and rewarding. For Unlimited and Boosted Challenges, successful traders retain up to 85% of their profits. The exact percentage may vary depending on the specific challenge and account size.
Risk Management and Trading Rules
We emphasize responsible trading and provide clear guidelines to mitigate risk. These include limits on maximum daily loss and maximum drawdown. We allow for various trading strategies, including copy trading and news trading. However, certain strategies, such as arbitrage and hedging across multiple accounts, are prohibited. All trades must be closed by 3:45 pm EST on Friday.
Advantages and Disadvantages of Prop Trading with FXCI
This section presents a balanced view of the benefits and drawbacks of participating in our prop trading program. We believe transparency is key to helping you make an informed decision.
Advantages and Examples
Our prop trading program offers several key advantages for traders of all levels.
- Access to Capital: The most significant advantage is access to substantial trading capital. This allows you to execute trades at much larger sizes than would be possible with your personal funds. Example: A trader with a $5,000 funded account can execute trades that would require significantly more personal capital in a standard brokerage account.
- Reduced Risk: Since you’re trading with our capital, your personal risk is significantly reduced. Losses are limited to the funds provided for the challenge. Example: If you lose your entire allocated trading capital during a challenge, your personal funds are not at risk.
- Profit Sharing: We offer a competitive profit-sharing model, allowing you to keep a substantial portion of your earnings. Example: With our Unlimited Challenges, successful traders can retain up to 85% of their profits.
- Flexible Trading: We allow various trading strategies, including news trading and copy trading, providing flexibility to adapt your approach. Example: You are free to use your preferred trading style and strategies, provided they comply with our rules.
- Bi-Weekly Payouts: We offer bi-weekly payouts, ensuring timely access to your earnings. Example: Once you reach the minimum withdrawal amount ($100), you can request a payout every two weeks.
Disadvantages and Examples
While the advantages are significant, it’s important to acknowledge potential drawbacks.
- Challenge Requirements: Meeting the challenge requirements can be demanding. You need to demonstrate consistent profitability and adhere to strict risk management rules. Example: Failing to meet the profit target or exceeding the maximum drawdown will result in the loss of your trading capital.
- Fees: There are fees associated with participating in our challenges. Example: The challenge fees range from $49 to $959, depending on the account size. While these fees are often refunded upon successful completion and first withdrawal, they represent an upfront investment.
- Limited Account Control: You are trading with our capital, so you’ll be subject to our trading rules and risk management parameters. Example: You will not have complete autonomy over your trading strategy; you must adhere to the specific rules of the challenge.
- No Guaranteed Profits: While we offer a significant profit-sharing opportunity, prop trading does not guarantee profits. Market volatility and unforeseen events can impact your trading results. Example: Even skilled traders can experience losses due to market fluctuations.
- Time Commitment: Successfully completing a challenge requires a significant time commitment and focus. Example: You will need to dedicate sufficient time to actively monitor and manage your trades.
FXCI's Commitment to Trader Success
We are dedicated to supporting our traders’ growth and success. We provide a platform designed for ease of use and efficiency. While we don’t currently offer formal educational resources, our comprehensive rules and readily available support are designed to help traders succeed. We maintain a responsive customer support system available 24/7 via email and Discord.
Frequently Asked Questions (FAQ)
Withdrawal processing times vary depending on the chosen method. Electronic wallet withdrawals typically process within 1-3 business days, while bank wire transfers may take 3-7 business days.
If you don’t meet the challenge requirements, you will not receive funding. However, depending on the specific challenge terms, a portion of your fee may be refunded. You are welcome to attempt another challenge.
We offer 24/7 support through email and our Discord community. Our website also includes a helpful FAQ section to address common questions. We are committed to providing the resources and assistance our traders need to succeed.