Find answers to the most commonly asked questions about the Nordic Funder 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 we have the proof. Check our funding and payout proof page to learn more.
5What are add-ons?
We set various rules to manage risk, such as requiring stop losses, holding positions over weekends or increasing leverage. We offer add-ons to remove those rules for an additional fee. The fee for each add-on varies according to the account size.
6After passing the assessment, can I get more capital?
Yes. Every time you reach 10% profit, you qualify for a new funded account with double the capital. For example, if you are trading 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.
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 purchase again 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. 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 one hour after completing identity verification.
10How does scaling work?
Every Nordic Funder account scales. We double your funding each time you reach 10% profit until you reach $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 double the amount. Read our scaling page to learn how scaling works with Nordic Funder.
1How do I pass an assessment?
To pass the assessment, you must generate 10% profit in your account. The assessment is automatically passed when your account equity reaches or exceeds 10% of your starting balance. At this point, the assessment will end, and all trades in your account shall be closed automatically.
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 your end-of-day balance at the end of the previous day at 21:00 UTC. Your end-of-day balance is updated at the end of each day. 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 an add-on 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 21:00 UTC every Friday. Any positions open at this time will be closed automatically, at a potentially unfavourable 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 an add-on for a 10% surcharge which permits holding positions over weekends.
7What 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.
8What happens if I don’t trade for several weeks?
Your account will be closed if you don't open, close, or modify 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.
9Do I forfeit the profits in my funded account if I breach the daily or max loss?
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.
10Can I hold positions during major news events?
Yes. You can trade during the news and keep positions open during major news events.
11What 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.
1What is your performance fee?
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 add-ons, 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 performance fee.
3When can I receive the performance fee from my funded account?
You can withdraw your earnings anytime, even on the very first day. We don’t encourage traders to be greedy, so if you have profits, we want you to take them. However, if you want to keep profit in your account to compound and grow, that’s also fine.
4How and when can I get a payout?
Once you have a funded account with at least 1% profit, you can request a payout anytime. There is no time restriction on when you can have your first payout. Payouts can be made using bank transfer, PayPal, USDT or BTC. Each trader is entitled to 4 free withdrawals per month. Additional withdrawals are charged at US$30.
1What are the commissions?
If you’re trading currencies and metals, the commission is $7 per lot. There are no commissions charged for trading oil, cryptocurrencies or indices.
2What instruments can I trade?
Our partner, Scandinavian Capital Markets, offers dozens of trading instruments, including currency pairs, cryptocurrencies, precious metals, oil and indices.
3How 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, so it increases your max exposure allowance.
4Can 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.
5Can 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.
6Do you allow 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 New York.
7Can I do my assessment with another broker?
No. The assessment and funded trading must take place with Scandinavian Capital Markets.
8Can 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.
9Can I hold positions overnight?
Yes. You can hold positions overnight. However, you must close your trades by 21:00 UTC on Fridays as we do not permit holding positions over the weekend unless you purchase the weekend trading add-on.
1What countries are accepted?
We welcome traders from almost every country, with a few exceptions due to sanctions. For example, we do not accept traders from Iran or North Korea.
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.