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 ranging from 50% to 90%. We are not a financial services provider and do not provide brokerage accounts. All capital used in the funded trader program belongs to Nordic Funder.
2How long has Nordic Funder been operating?
Nordic Funder launched in 2021 as the prop trading division of Scandinavian Capital Markets, Sweden’s only STP forex broker. However, in 2022, Nordic Funder became an independent company with a brand, community and voice of its own. We still work closely with Scandinavian Capital Markets.
3Can 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.
4Do you have any payout proof?
Since launching, we’ve paid hundreds of thousands of dollars to traders and have proof. Check our funding and payout proof page to learn more.
5What are risk upgrades?
We set various rules to manage risk, such as requiring stop losses, restricting holding positions over weekends or increasing leverage. 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.
6After passing the assessment, can I get more capital?
Yes. Every time you reach 10% profit, you qualify for more funding, known as scaling. Each time you scale, you'll receive another increment of your initial balance. For example, if you have a $25,000 funded account and increase your equity to $27,500, all your positions will be liquidated, you’ll be paid your profit share and issued a new funded account with $50,000 of capital. If you reach the 10% profit target in your $50,000 funded account, you'll scale to level 3 and get a $75,000 account.
7Are 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.
8Can I have more than one account?
Yes. You can participate in multiple assessments simultaneously, provided you’re using the accounts to trade different products or strategies. If trading with multiple accounts, please ensure you’re familiar with our prohibited trading practices . We do not allocate more than $1,000,000 to each trader at any given time.
9How 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 hours after completing identity verification.
10How does scaling work?
Every Nordic Funder account scales. We multiply your funding each time you reach 10% profit. The maximum funding you can reach is $1,000,000. When you reach 10% profit in your account, all positions are liquidated, your profit share is paid, and you’re given a new funded account with another increment of your initial balance. Read our scaling page to learn how scaling works with Nordic Funder.
1How do I pass the assessment?
To pass the assessment, you must generate 10% profit in the provided demo account. The assessment is automatically passed when your account equity reaches or exceeds 10% of your starting balance, and all trades are automatically closed.
2What is the max daily loss rule?
If your account equity reaches or exceeds a 5% drawdown within a given day, you will breach the max daily loss rule. The max daily loss rule is triggered when your equity falls below 5% of the previous end-of-day balance. Your end-of-day balance is updated at the end of each day at 21:00 UTC. Please check our article on rules to learn more and see examples.
3What 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 realise profits, your high water mark will increase but not decrease when making losses. Once you reach 10% profit 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.
4What is the maximum exposure I can have in my account?
All accounts have strict limits on how much exposure you can carry. We apply such restrictions to minimise risk for you and us. The maximum number of lots you can open at a given time depends on your account size and leverage. For example, with a $25k account with 1:10 leverage, you can have a maximum exposure of 2.5 lots, while with 1:20 leverage, you can have a maximum exposure of 5 lots. One caveat to this rule is that if you eliminate the risk of a position by placing a stop loss at break even or profit, you can open more positions. If your exposure exceeds the prescribed limit, some of your positions will be liquidated, which can cause losses due to spreads and commissions. Your exposure limit is clearly shown in the dashboard. Check our article on risk management and exposure limits for more examples and limits for each account.
5Do I have to place a stop loss on my trades?
By default, yes. Stop loss and take profit orders are important risk management, which is why we encourage all traders to use them in assessments and when trading with a funded account. By default, all Nordic Funder accounts require stop losses. Opening a position without a stop loss will automatically close, causing potential losses from spreads and commissions. However, when building your assessment, you can purchase risk upgrade for a 10% surcharge to remove the obligation to use a stop loss before submitting an order.
6Can I hold my positions over the weekend?
By default, no. We require all trades to be closed by 21:30 UTC 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?
No. Our broker disables trading from 22:00 UTC on Fridays and resumes trading at 22:00 UTC on Sundays. Therefore, even with the weekend trading upgrade, it’s not possible to trade on weekends, even if the crypto market is active.
8What happens after passing the assessment?
When you pass the assessment, we will provide you with a funded account to trade at your discretion. You will be trading funds provided by Nordic Funder in an MT4 account with Scandinavian Capital Markets on a live MT4 server, earning a performance fee on your trading profits.
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?
No. If you have a funded account and breach the daily loss or max trailing loss rule, you are entitled to keep any remaining profits after we liquidate all positions and disable trading.
11Can I hold positions during major news events?
Yes. You can trade during the news and keep positions open during major news events.
12What platform can I trade on?
Our risk management technology is only integrated with MetaTrader 4. We are working on integrating cTrader and MetaTrader 5. You can trade using MT4 desktop and mobile apps.
13Are there any time restrictions?
While we don't want to apply any tough time restrictions, we also don't want our capital allocated to traders who don't generated profit. Therefore, we have a time limit of 6 months to pass the assessment or scale your funded account.
14Am 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. In such cases, we will discuss and either ask to take the assessment again or issue a refund.
1Am I trading with real money?
No. All orders are executed in a simulated environment with virtual funds.
2What are the commissions?
The trading commissions are set by Scandinavian Capital Marets. If you’re trading currencies and metals, the commission is $7 per lot. There are no commissions charged for trading oil, cryptocurrencies or indices.
3What instruments can I trade?
Our partner, Scandinavian Capital Markets, offers dozens of trading instruments, including currency pairs, cryptocurrencies, precious metals, oil and indices. Please note that cryptocurrencies cannot be traded on weekends.
4How much leverage can I trade with?
When building your Nordic Funder assessment, you can choose many options, including how much leverage you want. The default leverage is 1:10, but you can upgrade to 1:20. Higher leverage results in greater buying power, increasing your max exposure allowance.
5Can I use automated strategies or custom indicators to trade?
Yes. Some of the best trading strategies rely on custom indicators and automation. For us, it’s not important if you point-and-click or use an EA. All we require is that it’s a trading strategy you developed and not one you bought for the purpose of passing the assessment.
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 a VPS?
Yes. You can use a VPS to host your expert advisor while trading with Nordic Funder. The MT4 servers hosted by Scandinavian Markets are hosted in London.
8Do you allow the use of trade copiers?
Yes. You can use a trade copier if you’re copying trades from another broker or platform. Please ensure you are not using the copier to operate a prohibited trading strategy.
9Do you allow martingale strategies?
Yes. You can use a martingale-based trading strategy with Nordic Funder.
10Do you allow grid trading strategies?
Yes. You can use a grid-based trading strategy with Nordic Funder.
11Can I do my assessment with another broker?
No. The assessment and funded trading must take place with Scandinavian Capital Markets.
12Can 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.
13Can I hold positions overnight?
Yes. You can hold positions overnight. However, you must close your trades by 21:30 GMT on Fridays as we do not permit holding positions over the weekend unless you purchase the weekend trading add-on.
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 50%. However, with upgrades, you can choose a 70% or 90% performance fee when building your assessment.
2Is the assessment fee refundable?
Yes. After making a 10% profit in your funded account, we shall refund your assessment fee alongside your profit share payout. However, we do not refund upgrades. Assessment fee refunds are only issued on the first occasion you scale a funded account.
3When can I receive my performance fee?
You can request a profit share payout 24 hours after receiving your funded account, providing the amount is at least 2% profit. Subsequent payouts can be requested every 14 days.
4How and when can I get a payout?
Once you have a funded account with at least 2% profit, you can request a payout anytime. We process payouts via Deel within 36 business hours of receiving your request. You can request payouts at any time, provided at least 14 days have passed since your previous payout.
1What countries are accepted?
We welcome traders from almost every country, with a few exceptions due to issues making profit share payments. Therefore, Nordic Funder cannot cooperate with users from the following jurisdictions: Afghanistan. Burundi, Central African Republic, Congo Republic, Cuba, Crimea, Democratic Republic of Congo, Eritrea, Guinea, Guinea-Bissau, Iran, Iraq, Liberia, Libya, Myanmar, North Korea, Papua New Guinea, Somalia, South Sudan, Sudan, Syria, United States of America, Vanuatu, Venezuela, Yemen, Zimbabwe.
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.
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.