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?
You are permitted to purchase and participate in only one evaluation of a specific account size and a specific plan type at a time, regardless of trading platform.
Example: You can have one 100k One Step Plan and one 100k Two Step Plan active, simultaneously. However, you cannot have one 100k One Step Plan on DXtrade and another 100k One Step Plan, regardless of platform.
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 reaches 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 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.
We Have 2 account plans that use this rule: One-stage and Two-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 only for the 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?
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?
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 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. In such cases, we will discuss and either ask to take the assessment again or issue a refund.
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 20:1 leverage on Forex and Metals, up to 10:1 leverage on Indices, up to 5:1 leverage on Oil and up to 2:1 leverage on Cryptocurrencies.
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.