Everything You Need To Know
Explore Prowit FAQ for all your queries
General
There are no limits on how many accounts, as long as you are within the maximum allocation amount. We currently have a maximum allocation guideline of 600k per user.
Instantly. Once you pass the evaluation, you can follow the prompts in your Evaluation pass email and get your live funded account right away.
Yes. The certificate will be available in your Trader’s Dashboard where it can be downloaded.
You should receive your account credentials within 20 minutes from your payment. When your account is created you will receive a notification from us via email. If you do not find ouremail after making the payment, please check your spam/junk folder.
No, at the moment we are not accepting US residents, but in the not too distant future theywill be accepted.
Once you start trading in your account, it is no longer possible to reset it to the originalamount.
Yes, you are allowed to trade using your Mobile.
No, each trader should work with their own name and account. Third party trading is considered a
violation of our terms and conditions and will result in problems during the KYC process.
Payments
You can withdraw your profit from your client portal, please ensure you are in profit at the end of the trading cycle and all positions are closed. Withdrawals can be requested from the menu Profit Share.
After 15, 21 or 30 days of receiving the Funded Account, you will be able to request a withdrawal, the different days depending on the type of challenge you purchased. (as long as you comply with the minimum days established in the withdrawal frequency).
We make it very simple for you: To make a request, go to your control panel and in the “Profit Sharing” section you can request it.
You will need to save your payment details; this can be updated in the “Payment Details” menu in your dashboard.
You will then be asked to confirm that you have your contract signed and that you have met the requirements.
The contract can be found in the “Contracts” menu. Confirm, that’s all.
Your withdrawal will be “Pending” until it is processed. To ensure your winnings are “locked”, your account will be in “read-only” mode until finalized.
Now you just have to wait. When our risk team approves a withdrawal, the finance team will process the payment and send you a confirmation.
To ensure you do not risk your profits – your account stays in “read only” until the withdrawal is processed.
We process withdrawals using cryptocurrencies.
We aim to process payouts as quickly as possible. Our average withdrawal processing time is within 2 – 5 business days.
The withdrawal button will be available from 30 days from the date you received the funded account or from the date a payout was processed. By the time you request the payout, you need to have 10 trading days (first withdrawal) or 7 trading days (subsequent withdrawals).
First eligible withdrawal within 30 days for Standard Prowit, 21 days for Royal Prowit and 15 days for Rapid Prowit.
Second Withdrawal eligible within 30 days for or Standard Prowit, 21 days for Royal Prowit and 15 days for Rapid Prowit.
After the second withdrawal it is all 14 days from your first trade.
- First Withdrawal = 60% profit sharing Withdrawal
- 2 = 75%. Withdrawal
- 3 = 80%. Withdrawal
- 4 = 90%
After making 4 withdrawals, you graduate to our Prowit Funded program and can now request withdrawals after 8 days from your first trade PLUS a 100% profit sharing.
Please note you must withdraw 100% of your winnings each time you withdraw.
Evaluation
No, the standard evaluation does not allow the use of any high frequency or arbitrage strategies. Using such systems to bypass the standard evaluation rules will result in the violation of your challenge.
Differentiating the challenge models allows us to better understand our traders strategy and to better monitor our future market exposure. This ultimately helps Prowit Funded risk modeling and enables more efficient risk management as an institution, so we can provide more stability and long term benefits to our traders.
Yes, If you violate any rules, your account will be suspended. But you will receive the opportunity to continue with the program at a discounted price.
This re-enrollment cost is also known as a “restart” fee, as it will restart your business cycle. This option is applicable for Royal Prowit, Standard Prowit and Rapid Prowit challenges. The reset fee is 90% of the original price for Royal Prowit and Standard Prowit and 85% of the original price for Rapid Prowit.
For example, you have a 100K evaluation model account. The original price of the account is $399.99 at Stantard Prowit If you breach your account during your Phase 1, or Phase 2 trading cycle you will not be eligible to trade on the account. But in Prowit Funded, traders can restart their trading journey by paying $359.99 as a restart fee in this situation, and in the case of a Rapid Prowit challenge a 100k evaluation model original account price is $674.99 in case of not being Eligible as a funded trader can request a reset worth $573.99.
Operational
For all your Prowit Funded Challenge/Evaluation accounts you will get 1:100 leverage. Liveaccounts are set to 1:60 as this is what an Institutional Trader would have access to.
Through Eightcap, you will have a $7 commission on FX Pairs, per lot. If you trade partial lots,the commission will be proportional. Indices, commodities and other instruments do not incur commissions – only the market spread.
HFTs do not work in real live market conditions nor they are allowed. As our pricing feed,execution and liquidity comes from a real feed, this is not an option.
HFTs do not work and are not allowed in our Standard Evaluations.
1. Allowed EAs and Indicators As a Prowit Funded Funded user, you have the freedom to use various EAs and indicators.
This includes: Risk management tools Auto trading bots Third-party bots
Important Note: While third-party EAs are permitted, using them in a way that mirrors thetrades of other members (with similar EAs) may be considered copy trading.
To maintain theuniqueness of your trading strategy, it’s advisable to alter the set files of these EAs.
2. Prohibited EAs There are certain types of EAs that are not allowed on funded accounts.
These include: Reverse arbitrage HFT Bot Hedge arbitrage Latencyarbitrage Tickscalping Copying trades from other traders
3. Penalty for Violation If you use any of the prohibited EAs, it will be regarded as a breach of our rules.
Consequences include: Immediate termination of your account This action will be taken without prior warning.
Trading Rules
Daily Drawdown: Relative Drawdown based on the Balance/Equity at the start of the day (platform time).
Currently, we allow news trading.
Yes, our program allows you to carry out operations during the weekend and at night throughout your evaluation and trader funded process.
This can be assessed on a case-by-case basis. If you account has been suspended, you will receive a member discount for future Evaluations.
If you breach the consistency rules, you will not lose your Funded Account – we would only remove the specific trades from the profit/restart the account.
Yes, all types of EAs are allowed in Prowit Funded during the evaluation stage, but once you have your account funded you will not be able to use it, if you use it you would be violating the rules and you will lose the account funding.
Make sure you use your own EAs instead of copying others’ trades.
Yes, hedging is allowed, however, using multiple accounts to hedge entries between them will be considered as a violation of rules. This includes hedging between clients.
Hedging your own account to protect a position for example, is completely allowed. Hedging two different accounts/individuals, taking opposite positions in each to bypass the rules, is not allowed.
Yes, we work with consistency-based rules. These rules ensure that we are working with legitimate traders who apply a consistent risk management and strategy to their accounts. As an institution, we must apply this rule to filter the most consistent traders and avoid people who are purely gambling.
Yes, each trader is responsible for his/her own account credentials – sharing the details with third parties is outside of out control and is not permitted. Sharing your funded account credentials may lead to having the account suspended.
In the funded account, you need to have 10 trading days (first withdrawal) or 7 trading days (subsequent withdrawals). Requesting a payout without meeting this means it will be declined and you will be able to request it again in a few days time.
HFT bots do not work nor are allowed in the funded stage.
You will not lose your account. Our risk team will only remove the profits from the amount being withdrawn and if these are greater than your PnL, your account will be reset to its original balance to give you a second chance.
Yes, only between your personal accounts. We use cutting edge technology for risk management and if you have a large proportion of trades deemed as copy, this is an infringement of our rules.
Our consistency rule only applies at the funding stage and is evaluated at withdrawal. Traders must participate in a minimum of 10 trading days in order to request withdrawal.
At the time you request a withdrawal, we will review your trading history and adjust your balance for any trades that fall outside your trading range.
To determine your trading range, you must first calculate your average trade size.
Divide the total volume of lots you have traded by the number of trades executed to find your average lot size.
Example
100 total lots operated
50 total operations executed
100 lots divided by 50 trades = Average lot size of 2
Now to determine your average lot size range see the following Average lot size x 0.25 = Bottom of your range
Average lot size x 2.00 = Top of your range
In our previous example 2 x 0.25 = 0.5 lots
2 x 2.0 = 4 lots
So your trades should be between 0.5 and 4 lots. Any trade that is outside the range will be eliminated at the time of withdrawal and also 1 trade cannot be more than 35% of the total profits, this is to prevent traders from going “all out” ahead of news or gambling, rather than applying sound risk management.
Note trades are added when placed within a 1 minute window on a position to achieve consistency in both profits and volume.
Third party account management is not allowed – each trade must trade his/her own accounts.
Duplicated IPs?
Duplicated IPs between different users in the funded account is a breach of our rules.
Change of IPs?
You do not need to notify us about IP changes. We understand you may use mobile, VPS and travel from time to time. Having different IPs is not an issue.
Trading Scenario
Understanding trading consistency and its impact on your profitability is crucial. This scenario will help illustrate how trading within a consistent range affects your earnings and profit split.
Consider a trader who has an average trade size of 10 lots. According to the rules, their trade size range should be between 2.5 lots (10 lots * 0.25) and 20 lots (10 lots * 2).
In a month, the trader makes a total of 50 trades, which break down as follows:
30 trades within the 2.5 to 20 lots range.
10 trades below 2.5 lots.
10 trades above 20 lots.
Given that the trader has met the minimum of 10 days trading within the range, specific rules will apply to their trades:
Profitable trades that fall outside the trade range will be removed. No single trade can be more than 35% of their total profit. For instance, if the trader’s total profit is $8,000, no single trade should account for more than $2,800.
As long as the trader’s trades meet these conditions, they qualify for a 60% profit split. Additionally, they are subject to a earning limit based on their funded account. This limit and the profit split determine the trader’s payout at the end of the trading period.
We hope this scenario has helped clarify the concept of business consistency and its impact on your profit division. If you have any further queries, feel free to contact our support team.
support@prowitfunded.com
Introduction
Understanding the importance of trading consistency and meeting the minimum trading days requirement is crucial. This scenario will illustrate what happens when a trader falls short of this requirement.
The Scenario
Let’s consider a trader who, like in Scenario 1, has an average trade size of 10 lots. This gives them a trade size range of between 2.5 lots (10 lots * 0.25) and 20 lots (10 lots * 2).
During the first month, the trader makes a total of 35 trades, with the following breakdown:
20 trades within the 2.5 to 20 lots range.
5 trades below 2.5 lots.
10 trades above 20 lots.
Scenario evaluation
In this scenario, the trader does not meet the minimum requirement of 10 days of trading within the range. This means that your trades that fall outside the range will not count towards this requirement.
Impact on profitability
Because they did not comply with the consistency rules, the trader does not qualify for the 60% profit split and profit limit based on their funded account.
To be eligible for these, they must ensure that they have a minimum of 10 trades within the specified range during the first month.
This scenario underlines the importance of maintaining trading consistency and meeting the minimum trading days requirement. For any additional queries, feel free to contact our support team.
support@prowitfunded.com
Introduction
Maintaining a balance in your profit generation from trades is a key aspect of trading consistency. This scenario explains how the 35% profit rule is applied and adjusted.
The Scenario
Assume a trader with an average trade size of 10 lots. This gives them a trade size range of 2.5 lots (10 lots * 0.25) to 20 lots (10 lots * 2).
Over one month, the trader makes 50 trades: 40 trades within the 2.5 to 20 lots range.
5 trades below 2.5 lots.
5 trades above 20 lots.
The trader meets the minimum requirement of 10 days trading within the range. However, one of their trades within the range accounts for a $2,975 profit. The total profit before adjustments is $8,500. This means this single trade represents more than 35% of their total profit.
The 35% Profit Rule Adjustment
According to our consistency rules, no trade should represent more than 35% of the total profit. In this case, the $2,975 trade breaks this rule.
Therefore, this trade is removed from your profit calculation. This leaves a remaining profit of $5,525 from the other trades.
Impact on profitability
If the rest of their trades meet all consistency rules, including the 10-day minimum trading range, the trader will qualify for the 60% profit split and profit limit based on their funded account, applied to $5,525 of earnings remaining.
This scenario demonstrates the application of the 35% profit rule and the importance of balanced profit generation from operations. If you have any further questions, please feel free to contact our support team. support@prowitfunded.com
Introduction
Successful trading is not just about making profits, but also about managing risk and adhering to trading rules.
This scenario illustrates how a trader can optimize their performance within the set trading consistency rules.
The Scenario
Let’s consider a trader with an average trade size of 10 lots. This gives them a trade size range of 2.5 lots (10 lots * 0.25) to 20 lots (10 lots * 2).
Over a period of one month, they make a total of 50 trades:
30 trades within the 2.5 to 20 lots range.
10 trades below 2.5 lots.
10 trades above 20 lots.
The trader meets the minimum requirement of 10 days trading within the range. They also take careful steps to ensure all trades comply with the consistency rules.
They effectively manage risk by employing suitable stop-loss and take-profit orders, and they make informed decisions based on thorough market analysis and strategic planning.
Benefits and consistency rules.
His total profit before adjustments is $9,000. No operation exceeds 35% of this total profit, respecting the 35% profit rule.
Profitable trades outside the range will be eliminated, reducing your total profit to $8,500. In this scenario, the trader successfully qualifies for the 60% profit split and profit limit based on his funded account.
His profit split is $5,100 (60% of $8,500) and his account is subject to the profit limit from funding his account.
Conclusion
By carefully observing consistency rules and focusing on effective risk management, traders can maximize their performance while meeting funded account requirements.
Regular tracking of trade size and profit is essential to maintain split eligibility and profit limit. If you have any further questions, please feel free to contact our support team.
support@prowitfunded.com
Introduction
Risk management is a crucial aspect of successful trading. This scenario highlights how a trader can maximize profits and achieve consistency using a well-planned risk management strategy.
The Scenario
Consider a trader with an average trade size of 10 lots, putting their trade size range between 2.5 lots (10 lots * 0.25) and 20 lots (10 lots * 2).
Over a period of one month, they execute a total of 25 trades:
17 trades within the 2.5 to 20 lots range.
4 trades below 2.5 lots.
4 trades above 20 lots.
The trader successfully meets the minimum 10 days trading within the range and adheres to a meticulous risk management strategy. They use a risk-reward ratio of 1:2, setting their stop-loss and take-profit orders accordingly.
To make informed trading decisions, they continuously keep themselves abreast with market news and conduct thorough technical analysis.
Benefits and consistency rules.
Before any adjustments, your total profit is $9,000. However, since none of the trades outside the range were profitable, no adjustments are required for the total profit.
Furthermore, the trader ensures that no trade represents more than 35% of the total profit, complying with the 35% profit rule. In this scenario, the trader qualifies for the 60% profit split and profit limit based on his funded account.
This leads to his profit split being $5,400 (60% of $9,000) and his account being subject to the profit limit consistent with his funded account.
Conclusion
This scenario illustrates the importance of maintaining trading consistency and applying sound risk management techniques for successful trading. A well-planned and properly executed strategy can help traders maximize their profits while complying with the rules set for funded accounts. If you have more questions or need help, our support team is always ready to help. support@prowitfunded.com