Frequently
asked questions
Everything you need to know before cooperating with Nordic Funder and joining our funded trader program.
About Nordic Funder
1What is Nordic Funder?
Nordic Funder is a proprietary trading firm offering retail traders a funded trader program. If you pass the paid assessment, you’ll be given a funded trading account to trade the company’s capital. Funded traders are compensated with a performance fee. We are not a financial services provider and do not provide brokerage accounts. All capital used in the funded trader program is virtual and not real funds.
2Can I change my assessment after completing the payment?
Usually no. If you chose the wrong account or forgot to apply an add-on, it may not be possible to make changes retroactively. Nonetheless, please contact us to see how we can help.
3Do you have any payout proof?
Since launching, we’ve paid hundreds of thousands of dollars to traders and have proof. Check our discord community to see payouts from users.
4What are risk upgrades and add-ons?
We set various rules to manage risk, such as restricting holding positions over weekends. We offer risk upgrades to remove those rules for an additional fee. The fee for each upgrade varies according to the account size. You can learn more about risk upgrades in our article about customising your funded trader account.
5Are there any recurring fees to join Nordic Funder?
No. The initial assessment fee covers all costs associated with participating in the assessment. You will not be required to pay recurring costs for market data, trading platforms or anything else. However, if you fail your assessment, you’ll need to repurchase to try again.
6Can I have more than one account?
A maximum of $1 million in active evaluation or funded plans per person is permitted. This can be composed of multiple assessment or funded accounts.
7How long does it take to get my account?
You should receive your assessment account within 10 minutes of ordering. You should receive your funded account within 48 business hours after completing identity verification.
8Which broker do you use?
We utilize an aggregate source of pricing and liquidity from multiple brokers and liquidity providers. The current liquidity providers use a number of different tier 1 banks, prime brokers, market makers and other liquidity sources to derive their pricing, and those underlying liquidity providers change constantly. Aggregating liquidity providers while maintaining multiple sources of liquidity allows us to provide competitive pricing and execution, while reducing reliance on a sole liquidity provider. All market pricing and trade executions are provided by the brokers, without any alterations or modifications on our part. Moreover, we do not adjust transaction costs such as bid-offer spreads, markups/markdowns or swaps beyond what is set by our brokers.
Trading rules
1How do I pass the assessment?
To pass the assessment, you must reach the profit target in the provided demo account. The assessment is automatically passed when your account equity reaches or exceeds the profit target of your account, and all trades are automatically closed.
2What is the max daily loss rule?
If your account equity or balance reach or exceeds a % drawdown (depending on the account plan) within a given day, you will breach the max daily loss rule. The max daily loss rule is triggered when your equity or balance falls below % of the previous end-of-day balance. Your end-of-day balance is updated at the end of each day at 1700 EST. Please check our article on rules to learn more and see examples.
3What is the max static loss rule?
If your account equity reaches or exceeds a 6% drawdown from the starting balance, you will breach the max static loss rule. When starting a new assessment or funded account, your high watermark equals your starting balance. Each time you realize profits, your high water mark will increase but not decrease when making losses. Once you request a withdrawal in your funded account, the maximum drawdown locks to your starting balance.
We Have 2 account plans that use this rule: Two-stage and Three-stage.
4What is the max trailing loss rule?
If your account equity reaches or exceeds a 10% drawdown from the high water mark, you will breach the max trailing loss rule. When starting a new assessment or funded account, your high watermark equals your starting balance. Each time you realize profits, your high water mark will increase but not decrease when making losses. Once you reach 10% profit, or request a withdrawal in your funded account, the maximum trailing loss no longer trails the high water mark and locks to your starting balance. Check our article on rules to learn more and see examples. This rule is applied for the One-stage and One-stage PRO accounts.
5Do I have to place a stop loss on my trades?
No. Stop losses, while suggested, are not required.
6Can I hold my positions over the weekend?
By default, no. We require all trades to be closed by 15:45 EST every Friday. Any positions open at this time will be closed automatically, at a potentially unfavorable price, due to thin liquidity at the end of the week. Holding positions over weekends is risky, especially for indices, commodities and cryptocurrencies, increasing our trading costs. However, when building your assessment, you can purchase a risk upgrade for a 10% surcharge which permits holding positions over weekends.
7Can I trade cryptocurrency on weekends?
Yes, you can trade Cryptocurrencies on the weekend as long as you have purchased the Weekend Hold add-on.
8What happens after passing the assessment?
When you pass the assessment, we will provide you with a funded account to trade at your discretion, earning a split on any profits you generate.
9What happens if I don’t trade for several weeks?
Your account will be closed if you don't open or close any positions for 30 consecutive days. If you have a funded account, you remain entitled to your performance fee from the profits in the account. Unfortunately, you must retake the assessment if we terminate your account due to inactivity.
10Do I forfeit the profits in my funded account if I break a rule?
Yes. If you have a hard breach in your funded account, any accumulated gains in the account will be forfeited unless you have purchased the Payout Protector add-on. Please review the FAQs for additional details.
11Can I hold positions during major news events?
You may hold existing positions through a news event. However, opening a position within 3 minutes before or after a News Event is prohibited. Any traders identified as having opened a position during a News Event are subject to having that position closed and the associated P&L removed from their account, having the leverage on their account reduced or having their account breached altogether. The Company has sole and absolute discretion in determining what constitutes a News Event. This rule is intended to protect the integrity of our program and is not meant to penalize traders who inadvertently trade through a news event.
12What platform can I trade on?
Our technology is currently integrated with DXtrade, MatchTrader, cTrader & GooeyPro platforms via GooeyTrade.
13Am I guaranteed funding after passing?
While we fund almost every trader that passes, in some rare cases, we might choose not to fund someone because we feel their trading is not suitable for our risk appetite or does not provide enough data to evaluate.
14What is the Consistency Requirement?
We have a Consistency Requirement to ensure traders aren't hitting profit targets through a few lucky trades.
This promotes consistent behavior and punishes YOLO style trading. The calculation is: (best trading day PnL/Total PnL) x 100. A lower value means profits are generated more consistently across multiple trading days.
A higher value means profits are concentrated on fewer trading days. For example, a consistency requirement of 25% means you cannot achieve your entire profit target in less than 4 days (100% / 25% = 4).
You must meet both the profit target and the consistency requirement — maintaining a consistency ratio at or below 25% — to hit your profit target, be eligible for a payout, and to advance to the next phase.
Example 1: On a $100k account with a profit target of $8,000, if you earn $2,000 per day over 4 days, you meet the consistency requirement. Your best day is $2,000, and total profit is $8,000 — resulting in a consistency ratio of 25% ($2,000 / $8,000).
Example 2: On a $100k account with a profit target of $8,000, if your profits across 4 days are $3,000, $1,000, $2,000, and $2,000, you violate the consistency requirement. Your best day is $3,000, and total profit is $8,000 — which gives a consistency ratio of 37.5% ($3,000 / $8,000). To meet the consistency requirement of 25%, you would now need to reach a total profit of $12,000 while keeping your best day at or below $3,000.
15Do I lose my account if I don’t meet the Consistency Requirement?
No. But in order to complete the phase and be entitled to receive the payout, you will need to achieve both the profit target and the consistency requirement.
16How does withdrawing gains from my Funded Account affect my Maximum Trailing Drawdown?
On select accounts, when a withdrawal is approved, we will also withdraw our share of the gains, and your max trailing drawdown will lock in at your starting balance.
The trailing drawdown does not reset when you request a withdrawal.
Example: You have taken an account from $100,000 to $120,000.
You then request a withdrawal of $16,000. In this scenario, you will receive $12,000 and we would retain $4,000. This would also take the balance of the account down to $104,000, and your Maximum Trailing Drawdown is locked in at $100,000.
So, you would have $4,000 maximum you could lose on the account before it would violate the Maximum Trailing Drawdown rule.
If you take a full withdrawal of the gains in your Funded Account, the Maximum Trailing Drawdown will lock in at the starting balance and trigger the Maximum Trailing Drawdown breach rule, resulting in the forfeiture of your Funded Account.
Payouts
1What is your profit share?
We pay funded traders a performance fee for the profit they generate in their funded accounts. The standard performance fee with Nordic Funder is 75% on all accounts.
2Is the assessment fee refundable?
No. We do not have any refundable fee.
3When can I receive my performance fee?
Traders can request a withdrawal of the gains in their funded account at any time in their trader dashboard, but no more frequently than once per thirty (30) days. So, if you make gain in your funded account, you can request a withdrawal. When you are ready to withdraw the gains from your funded account, click the Withdraw Profits button in your trader dashboard and enter the amount to withdraw. All such gains are distributed via the available outbound payment solutions offered from time to time. Once your withdrawal request is approved, we will pay the monies owed to you. We reserve the right to change the withdrawal methods and options at any time.
Trading conditions
1Am I trading with real money?
Once you pass the Assessment, we provide you with a funded account, backed by our capital. The capital in your funded Account is notional and may not match the amount of capital on deposit with the Liquidity Provider. A Funded Account is notionally funded when actual funds in the account (i.e., the equity in a Funded Account represented by the amount of capital) differs from the nominal account size (i.e., the size of the Funded Account that establishes the initial account value and level of trading). Notional funds are the difference between nominal account size and actual capital in a Funded Account. Use of notional funding does not impact your trading conditions in any way.
2What are the commissions?
Assessment and Funded accounts receive the same pricing and commissions as charged by our Liquidity Provider to other, self-funded, retail trading accounts. Currently commissions are $7/lot for FX and Metals, $0 for Indices, Oil and Cryptocurrencies.
3What instruments can I trade?
We offer dozens of trading instruments, including currency pairs, cryptocurrencies, precious metals, oil and indices.
4How much leverage can I trade with?
We offer up to 30:1 leverage on Forex and Metals, up to 10:1 leverage on Indices, up to 5:1 leverage on Oil and up to 5:1 leverage on Cryptocurrencies.
Double-Leverage add-ons available for select account types
5Can I use automated strategies or custom indicators to trade?
Subject to our policy on Prohibited Trading as described below, you can trade using an automated strategy
6Can I use a high-frequency trading strategy?
No. Our objective is to cooperate with traders using strategies we can replicate. HFT strategies are hard to monetise and often result in poor performance.
7Do you allow the use of trade copiers?
Copy Trading
Copy trading from one account to another is only permitted if the trader owns all the accounts in question.
Group trading, signal services, passing services, or any other methods that bypass individual strategy are not allowed.
Engaging in trades that mirror or closely align with another trader or group of traders across multiple accounts is strictly prohibited.
Using automated trading systems (EAs) or third-party trading strategies that facilitate copy trading is strictly prohibited
8Can I do my assessment with another broker?
No. The assessment and funded trading must take place with Scandinavian Capital Markets.
9Can I have a funded account in another currency?
No. We only provide funded accounts in US dollars as that’s our prop firm’s accounting currency.
10Can I hold positions overnight?
Yes. You can hold positions overnight. However, you must close your trades by 1545 EST on Fridays as we do not permit holding positions over the weekend unless you purchase the weekend trading add-on.
11What are the prohibited trading practices that I should be aware of?
We strictly prohibit engaging in activities such as purchasing multiple accounts with the same plan balance or risking full margin in a single trade. These practices are considered as playing the system and are not permitted within our trading guidelines. Our aim is to maintain fair and responsible trading practices for all participants. Please refer to our full list of prohibited trading practices for further details. For further details please see https://dashboardanalytix.com/client-terms-and-policies/?v=34f435c6b599
Identity verification
1What countries are accepted?
Subject to compliance with applicable laws and regulations, traders from all countries, excluding OFAC listed countries, can take part in our program, unless otherwise limited at the Company’s discretion.
2How do I verify my identity?
You must verify your identity after passing the assessment for the first time. To verify your identity, you must provide a copy or photo of your ID or Passport and a copy or photo of a bank statement or utility bill verifying your address with our third party KYC provider.
3Why do I need to verify my identity?
While we don’t provide financial services, we must verify who trades our capital and who will receive payouts.
4What are the Market Data Fees?
Market data fees cover the cost of accessing real-time price data from the exchanges. These fees are included in your purchase price during Phases 1 through 4. Once you reach the Live Funded Futures phase, any applicable market data or platform fees will be deducted from your account balance on a monthly basis.
5Do I need to complete KYC or sign a trader contract to start trading in a Funded Futures Plan?
You will be required to complete our Know Your Customer (KYC) program and sign our Trader Agreement prior to requesting a payout.
6Do we manipulate the pricing or executions you receive in your Funded Futures accounts?
No. We operate at arm's lengths with the liquidity providers/Exchanges. All market pricing and trade executions are provided by third parties and are not changed or modified by us. Additionally, we do not markup transaction costs established through adjusting bid-offer spreads, markups/markdowns, commission charges or swaps.
7Who is the counterparty to my trades?
During the simulated phases, trades are executed against the liquidity provided by your trading platform and are designed to closely mimic real-market pricing and execution. Once you receive your live funded account, the pricing and execution will come directly from the exchange(s) on which you trade.
8What happens if I do not close the trade?
Positions will be closed for you during regular trading days at 1555 CST. Trades cannot be held over weekends. Holiday Hour Trading: During holiday trading hours, auto-liquidation may not occur at the half-time market close, and the trader is responsible for closing the positions.
Please pay careful attention to market hours around holidays and shortened weeks. Failure to close the positions before the market closes may result in the loss of the account whether it is a Funded Futures or Live Futures account.
Futures
1Can I reset my account if I lose it?
No. You will need to purchase a new account if you breach it for any reason.
2Can I hold positions in Futures accounts over the weekend?
No. All positions must be closed and all open orders cancelled at 1555 CST each weekday.
3What is a Futures contract?
A futures contract represents a standardized amount of an underlying asset. For example, one E-mini S&P 500 futures contract (ES) represents $50 times the index price, while one crude oil (CL) contract represents 1,000 barrels of oil.
4What are the Market Data Fees?
Market data fees cover the cost of accessing real-time price data from the exchanges. These fees are included in your purchase price during Phases 1 through 4. Once you reach the Live Funded Futures phase, any applicable market data or platform fees will be deducted from your account balance on a monthly basis.
5Do I need to complete KYC or sign a trader contract to start trading in a Funded Futures Plan?
You will be required to complete our Know Your Customer (KYC) program and sign our Trader Agreement prior to requesting a payout.
6Do we manipulate the pricing or executions you receive in your Funded Futures accounts?
No. We operate at arm's lengths with the liquidity providers/Exchanges. All market pricing and trade executions are provided by third parties and are not changed or modified by us. Additionally, we do not markup transaction costs established through adjusting bid-offer spreads, markups/markdowns, commission charges or swaps.
7Who is the counterparty to my trades?
During the simulated phases, trades are executed against the liquidity provided by your trading platform and are designed to closely mimic real-market pricing and execution. Once you receive your live funded account, the pricing and execution will come directly from the exchange(s) on which you trade.
8What happens if I do not close the trade?
Positions will be closed for you during regular trading days at 1555 CST. Trades cannot be held over weekends. Holiday Hour Trading: During holiday trading hours, auto-liquidation may not occur at the half-time market close, and the trader is responsible for closing the positions.
Please pay careful attention to market hours around holidays and shortened weeks. Failure to close the positions before the market closes may result in the loss of the account whether it is a Funded Futures or Live Futures account.
