FAQ

New with bitfunded 

How to start?

• Prior to committing to a bitfunded Challenge, it's crucial to understand what you might encounter.
• Upon registration, you have the option to initiate a bitfunded Challenge right away or, as we typically suggest, commence with our Free Trial — an unpaid version of our bitfunded Challenge designed for practice. Within the Free Trial, you can explore some of our Trading Applications and receive a concise performance analysis. The Free Trial can be repeated as often as needed to ensure thorough preparation for an bitfunded Challenge.
• When you feel prepared to take on a bitfunded Challenge, you can configure your account here.
• It's important to note that the attainment of a bitfunded Account is not based on your Free Trial performance or any external track record. Our Evaluation Process is structured to thoroughly assess your trading skills, providing a solid foundation for you to utilize our bitfunded Account.
• Is bitfunded a trustworthy company?
• Since our establishment in 2023, we have successfully provided thousands of clients with their bitfunded Accounts, boasting a total payout exceeding several million Euro. Our achievements have garnered recognition across the globe. 
• Understanding that reputation is paramount in this industry, we invite you to verify our legitimacy by exploring online reviews. Conduct your due diligence by checking feedback on reputable review platforms such as TrustPilot, Forex Peace Army, or Forex Factory. Clients often share their experiences on YouTube or directly with us, as evident in the Testimonials section. Additionally, you are welcome to join our community on Discord.
• At bitfunded, we believe in letting our clients' experiences and testimonials speak for the quality of our services.
•  What is bitfunded?
• bitfunded is a venture seeking seasoned clients with trading expertise. In order to gauge if a client possesses the desired qualities, we have established a 2-step Evaluation Process comprising the bitfunded Challenge and Verification stages. Once a client successfully navigates through this Evaluation Process, they gain access to an bitfunded Account, enabling them to earn rewards of up to 90% of their profits.
• Recognizing the challenges inherent in the journey of a trader, we offer educational applications, account analyses, and the support of performance coaches to assist our clients along their path.

• Where is your office? How do I contact you?

• Our headquarters are situated in the heart of Europe, with our office conveniently located in the center of Hamburg. You can find us at Lindenallee 70a, 20259 Hamburg, Germany. If you plan to visit us, kindly inform us in advance so we can notify our reception, and we would be delighted to welcome you and provide a tour.
• To reach us, you have various communication options. Feel free to use our contact form, send us an email, engage in our 24/7 Live Chat, connect via Messenger, or call us directly at our phone number – all contact details are available in the contact section. We are here to assist you through whichever channel is most convenient for you.
• Who can join bitfunded?
• With the exception of the instances outlined below, we extend our services to clients from all corners of the globe. No specific qualifications are necessary, but all clients must be at least 18 years old. If you possess profitable trading skills coupled with sound risk management practices, then you are the ideal candidate we are seeking.
• Please be aware that bitfunded cannot provide services to individuals from or in Iran, Syria, Myanmar, and North Korea, as well as to individuals on sanction lists, those with criminal records related to financial crime or terrorism, and individuals previously banned due to contract breaches. In the case of the United States of America, bitfunded does not accept clients from Louisiana, South Carolina, Montana, Arkansas, and Delaware. Additionally, bitfunded does not accept legal persons who are company trusts.
• Owing to regulatory developments and business decisions grounded in risk management considerations, bitfunded does not accept clients from India, the Russian Federation, the Republic of Belarus, the Republic of Indonesia, Cuba, Venezuela, Sudan, and South Sudan.
• Why should I join bitfunded?

Trading indeed presents various challenges for traders, including common issues such as:

1. Trading an account that is too small (undercapitalization): Many traders face limitations due to insufficient capital.
2. Fear of losing your own money: The psychological impact of potential losses can hinder effective decision-making.
3. Psychological pressures: Emotional aspects like stress and anxiety can affect trading performance.
4. Lack of discipline: Maintaining a consistent and disciplined trading approach is often challenging.
5. Growth limitations: Traders may encounter barriers in scaling up their trading activities.
6. Insufficient support from your surroundings: Limited assistance or understanding from the environment can be a drawback.

For retail traders aspiring to make a living, particularly using their own funds, the journey can be tough. bitfunded Prop Trading offers a solution by providing access to an bitfunded Account with up to $400,000 in fictitious capital, allowing traders to experience trading without the actual risk of losing their money.

Recognizing that successful trading goes beyond capital alone, bitfunded is committed to creating optimal conditions for its clients. Traders gain broad access to innovative Trading Applications, enhancing their trading edge, and receive detailed feedback from the company. Periodic consultations with a Performance Coach are also available at no cost.

Emphasizing trading discipline, bitfunded closely monitors trading results, providing assessments through Account Analysis and Trader’s Analysis. The rules are designed to instill professional risk management habits, eliminating behaviors like over-trading, revenge trading, and over-leveraging.

Addressing the 'keep and grow or withdraw and go' dilemma, bitfunded offers flexibility. Traders at the bitfunded stage can receive real rewards for their performance. Profit Split allows withdrawals of rewards within 14 to 60 days from the first trade on the bitfunded Account. Consistently profitable traders may see increased balance allocations according to the Scaling Plan.

Notably, the initial fee paid by traders is refunded with the first Profit Split from the bitfunded Account, adding an extra layer of financial benefit.

Evaluation process

• How do I become a bitfunded Trader?

Becoming an bitfunded Trader involves successfully navigating our 2-step Evaluation Process:

Step 1: bitfunded Challenge

Engage in trading on a demo account with fictitious capital, adhering to our Trading Objectives. Benefit from superior account conditions with our bitfunded solution featuring low commissions and spreads. Successfully meeting all requirements grants you access to the second and final step of the evaluation.

Step 2: Verification

Verify your performance and consistency on another demo account with fictitious capital, featuring more lenient rules. For a detailed explanation of these rules, please refer to the Trading Objectives site.

Upon successfully passing the Verification stage, you may qualify to become an bitfunded Trader, subject to our review of your trading performance. To finalize a contract for your bitfunded Account, we'll request your ID document (passport, national ID card) and completion of the identification process. Contract conclusion is contingent upon the completion of identification procedures aligning with bitfunded's internal policies.

bitfunded does not extend services to individuals from or in specific countries as outlined, individuals on sanction lists, those with criminal records related to financial crime or terrorism, individuals below 18 years of age, company trusts, and individuals previously banned for breaching any bitfunded contractual requirements. If any of these conditions are identified post-conclusion of an bitfunded Account Agreement, bitfunded reserves the right to terminate the relevant contract.

It's important to note that an bitfunded Account is not granted based on any past track record. Success in the Evaluation Process is the primary criterion for becoming an bitfunded Trader.

• How long does it take to become an bitfunded Trader?

To successfully pass the bitfunded Challenge, you are required to engage in trading for a minimum of 4 trading days (which do not need to be consecutive). This same criterion applies to the Verification phase, where again, a minimum of 4 trading days is necessary. Importantly, there is no specified maximum time limit for completing our Evaluation Process, affording you the flexibility to take as much time as needed.

Upon meeting all 4 Trading Objectives and having your trades reviewed, you can swiftly progress to the next phase. In total, you can commence using your bitfunded Account after completing as few as 8 trading days. This structure allows for an efficient and expedited transition for successful traders to access and utilize their bitfunded Account.

• I have successfully passed my bitfunded Challenge, now what?

Once you successfully fulfill all the Trading Objectives in your bitfunded Challenge, you will receive a notification in your Account MetriX confirming your success. At this point, there is no need to continue trading the account, as your Trading Objectives are marked as passed. Our system will automatically alert us about your achievement, and we will proceed to evaluate your trading results.

Within approximately 1-2 business days following the successful completion of the bitfunded Challenge, you can expect to receive the new account login credentials for the Verification stage. This marks the next step in the process as you progress toward potentially becoming an bitfunded Trader.

What capital will I trade on an bitfunded Account?

Upon successful completion of the bitfunded Challenge, you will trade with the same account balance that was utilized during the challenge. For example, if you traded with $200,000 in an bitfunded Challenge, you would have access to a $200,000 bitfunded Account.

To prevent any confusion, it's important to note that all accounts provided to our clients are demo accounts with virtual funds. Once a client becomes an bitfunded Trader, they receive login credentials for a demo account. Clients are entitled to up to 90% of the profits generated on their bitfunded Account.

Should you wish to trade with a higher account balance, you can apply for another bitfunded Challenge. It's essential to recognize that each bitfunded Challenge must be started from the beginning, irrespective of whether you have passed one in the past. We permit a maximum capital allocation of $400,000 on bitfunded Accounts per trader or per strategy at any given time. This could be, for instance, 2 bitfunded Accounts – each with $200k, or 4 bitfunded Accounts – each with $100k, etc. Caution is advised to avoid multiple accounts through various registrations. If identically traded strategies are detected across various accounts, exceeding $400,000 in allocated capital value, we reserve the right to suspend those accounts in accordance with our agreement.

Conversely, for consistently profitable traders on their bitfunded Account, we are pleased to allocate additional capital following our Scaling Plan.

Rules

Step 1 – bitfunded Challenge

The bitfunded Challenge serves as the initial phase in our Evaluation Process, ensuring that you can trade responsibly and manage risk effectively. This is crucial as your simulated trades during the bitfunded Challenge may be used in the future when trading on our own accounts in real financial markets. The rules in the bitfunded Challenge are designed with a balanced Profit Target and an allowable drawdown, forming what we refer to as Trading Objectives.

There is no specific time limit imposed for achieving the Profit Target within the bitfunded Challenge; the Trading Period is indefinite. Once all the Trading Objectives are successfully met and your results are reviewed, you can proceed to the Verification phase. The minimum time required to complete an bitfunded Challenge is 4 trading days.

The following are the Trading Objectives: [Details of Trading Objectives would be specified here.]

Step 2 – Verification

The Verification stage represents the conclusive phase in our Evaluation Process. Its purpose is to evaluate your trading consistency, ensuring that you can profitably execute your system or strategy in the long run while adhering to the established rules. Compared to the bitfunded Challenge stage, the Verification stage features more lenient Trading Objectives, with the Profit Target reduced by half. Similar to the initial stage, there is no set time limit for completing these objectives.

Once you successfully meet all the Trading Objectives and your results undergo a thorough review, you can proceed to complete your bitfunded Identity, sign the contract, and obtain your bitfunded Account. There's no need to wait any longer!

The following are the Trading Objectives: [Details of Trading Objectives would be specified here.]

Step 3 – bitfunded Account

Upon achieving the status of an bitfunded Trader, it is a testament to our trust in your trading skills and risk management abilities. Consequently, we provide you with industry-leading trading conditions. In an effort to alleviate any stress associated with pursuing specific targets, we have eliminated the Profit Target requirement, allowing you the freedom to trade with peace of mind.

The only remaining Trading Objectives that we require you to adhere to are the drawdown rules, specifically the Maximum Daily Loss and Maximum Loss. These rules hold paramount importance to us as they form the foundational principles of trading. Furthermore, the data from your simulated trades may be utilized for our own trades in real financial markets.

This approach is designed to empower bitfunded Traders, offering them a supportive trading environment without the burden of Profit Targets while emphasizing the critical aspects of risk management.

Following are the

Trading Objectives for an bitfunded Account:

Can I trade news?

In an bitfunded Challenge and Verification, traders are allowed to trade freely during all news releases. However, after successfully passing the Evaluation Process (comprising bitfunded Challenge + Verification), and unless the account type is Swing, caution is advised when trading during news releases.

The following table outlines trade restrictions for bitfunded Traders based on specific types of reports and instruments. For those trading on an bitfunded Account, executing new trades or closing existing ones on the targeted instruments (as per the table) is prohibited during the 2-minute window before until 2 minutes after the release of certain news announcements. Executing a trade is defined as opening or closing either a pending order (including stop loss or take profit) or market execution. It's important to note that traders are allowed to hold existing trades on the targeted instruments that were opened more than 2 minutes before the restricted news event. However, activating a Stop Loss or Take Profit during the restricted time window may be considered a violation of the bitfunded Account Agreement.

For other non-targeted instruments, normal trading is permitted. For instance, trading EURGBP or AUDNZD during the US – NFP release is allowed, but opening or closing USDJPY or GBPUSD during the 2-minute window before to 2 minutes after the NFP release is discouraged.

This approach aims to ensure responsible and informed trading practices, particularly during periods of heightened market volatility associated with significant news releases.

To reiterate, it's crucial to note that the previously mentioned restrictions do not apply to bitfunded Challenge or Verification accounts. Additionally, these restrictions are not applicable to bitfunded Traders who have their account type set to bitfunded Account Swing. Unlike the standard bitfunded Account, the bitfunded Account Swing does not have restrictions related to news trading or holding trades over the weekend.

For news announcements impacting the USD, the restriction applies specifically to Forex pairs with USD currency involvement, as well as to the offered Indices, namely US30.cash, US100.cash, US500.cash, and US2000.cash. It's important for bitfunded Traders to be mindful of these distinctions based on their account type and the specific instruments they are trading.

Do I have to close my positions overnight?

In an bitfunded Challenge or Verification, traders have the flexibility to keep positions open overnight and over the weekend without any restrictions.

However, once you become an bitfunded Trader and acquire an bitfunded Account, it is a requirement to close your positions just before the markets close for the weekend or if the rollover (market break) extends beyond 2 hours. bitfunded Traders with the bitfunded Account must adhere to specific market timings, which can vary for each asset class and its respective instruments.

Standard market hours are visible in the trading platforms and on our Symbols site. Nevertheless, it's important to note that trading hours are subject to routine changes based on major holidays or other events. Any modifications to standard market hours are communicated in the Trading Updates section, and regular visits to this page are highly recommended.

For MetaTrader users, accessing the Market Watch (Ctrl+M), right-clicking on the instrument of interest, and choosing 'Specification' reveals the 'Trade' hours for that specific instrument. These are the standard market hours applicable most days unless specified otherwise in the Trading Updates.

In the cTrader platform, opening Markets, right-clicking on the instrument of interest, and selecting 'Market Symbol' displays the trade hours in the same dialogue window.

For the DXtrade platform, navigating to the "Watchlist," right-clicking on any instrument, and selecting "Instrument Info" allows you to view the Trading Hours in your local time.

It's worth mentioning that traders dealing with cryptocurrencies may find certain options available for trading during specific hours of the weekend.

The above-mentioned restrictions do not apply to bitfunded Traders with the bitfunded Account Swing. Unlike the standard bitfunded Account, the bitfunded Account Swing does not have limitations related to news trading or holding trades over the weekend.

Which instruments can I trade and what strategies am I allowed to use?

Your trading style is entirely your own decision. As long as your trading is conducted legitimately, aligns with proper risk management practices, reflects real market conditions, and avoids prohibited practices, we do not impose limitations or restrictions on your trading strategy. Whether you engage in discretionary trading, algorithmic trading, use Expert Advisors (EAs), or employ other methods, we support your individual approach.

It's essential to note that your trading style should be replicable on live accounts, producing the same results as on your bitfunded Account. While we don't mandate the use of a Stop-loss (although it's generally advisable to have safety measures in place), the maximum volume per order on Forex is set at 50 lots. You are free to trade all the instruments and assets available in your trading platform, including Forex, Indices, Commodities, Stocks, and Cryptocurrencies. A list of available symbols can be found on this link. If your system proves profitable while adhering to the rules, we are delighted to see your success with us.

For those considering the use of trading robots (Expert Advisors – EAs), it's important to be aware that if you use a third-party EA, there might be other traders employing the same EA and, consequently, the same strategy. Using a third-party EA may pose a risk of being denied the bitfunded Account if you exceed the maximum capital allocation rule.

Please be mindful that platform servers have limitations, such as 200 orders at a time and 2000 maximum positions per day. Additionally, there are constraints on the acceptance of server messages (orders and modifications). If your EA results in excessive activity on a platform server, we may notify you and request adjustments to the EA logic or strategy parameters.

Caution is advised against practices that deviate significantly from serious trading. These practices are detailed in our article here. If intentional activities or Modus Operandi are identified across multiple accounts, we reserve the right to take necessary actions to mitigate risks. This could involve removing conflicting positions, rebalancing the account, reducing leverage, or terminating the account entirely, ceasing our cooperation. For more information on Forbidden Trading Practices, you can refer to the Terms & Conditions (clause 5.4). We encourage genuine and consistent trading efforts that demonstrate your edge in the markets.

What is ‘Trading according to a real market?’

Trading conducted on the bitfunded platform, whether in the Free Trial, Evaluation Process, or bitfunded Account, must adhere to principles of legitimacy. Traders are expected to employ strategies that align with genuine market functioning and refrain from practices that contravene fair trading, exploit the system, or misuse the Evaluation Process and/or bitfunded Account, leading to breaches of forbidden trading practices.

It is strongly recommended that traders acquaint themselves with how bitfunded works, including a thorough understanding of the Terms & Conditions, particularly clause 5.4, which outlines the forbidden trading practices mentioned above.

It's essential to reiterate that all trading on the bitfunded platform, regardless of the stage (Free Trial, Evaluation Process, bitfunded Account), is simulated. The capital involved is entirely fictitious. However, data obtained from bitfunded Accounts may be used to inform trading on our separate live accounts. This emulation of real market conditions underscores the importance of applying proper risk management. It is a reminder that trading on a real market, such as through a proprietary trading firm, necessitates adherence to established rules.

bitfunded Account

• What is the legal relationship between an bitfunded Trader and bitfunded after signing the bitfunded Account agreement?

The relationship between an bitfunded Trader and bitfunded is formalized through the bitfunded Account Agreement, a legally binding document that is signed after successfully passing the bitfunded Challenge and Verification stages, along with completing the KYC/KYB process. If you are interested in reviewing a sample of the contract, you can contact bitfunded at support@bitfunded.com.

The process of signing the contract involves the following steps:

1. Verification of Trading Objectives:

• Once you meet the Trading Objectives of your Verification, the bitfunded Identity section will be unlocked in your Client Area.

2. Providing Personal or Company Details:

• In the bitfunded Identity section, you can save your personal or company details along with relevant documentation.

3. Compliance Checks:

• The compliance checks typically take less than 1 business day for personal registrations and up to 3 business days for company registrations.

4. Identity Types:

• There are three different types of identities to choose from:

• Natural Person: Requires KYC verification, including a valid government-issued ID document showing nationality and Proof of address.

• Entrepreneur: Requires KYB verification, including a valid government-issued ID document, a document confirming registration as an entrepreneur, and Proof of address.

• Company: Requires KYB verification, including a valid government-issued ID document showing nationality and Proof of address of the representative of the company, a document confirming the legal existence of the company, and Proof of address of the company.

5. Review and Signing:

• Once all information is verified by the compliance team, you can review and sign the bitfunded Account Agreement in your Client Area under bitfunded Traders > Contracts.

6. Contract Types:

• The agreement can be completed for three different identity types, each requiring specific verification processes.

The Client Area is designed to be user-friendly, providing most of the necessary information. However, if assistance is needed, the customer support team is available for help.

What account size will I work with?

bitfunded Traders will maintain the same account balance size as chosen for their preceding bitfunded Challenge and Verification stages. It's important to clarify that, after becoming an bitfunded Trader, individuals will be given access to a demo account with fictitious capital. Clients are entitled to up to 90% of the results generated on the bitfunded Account.

There are no upgrading options available, so the choice of the appropriate account size needs to be made at the outset when configuring the bitfunded Challenge. Starting a new bitfunded Challenge is an option, and upon successfully passing another Evaluation Process, a trader will be provided with another bitfunded Account. However, it's crucial to note that the maximum capital allocation on bitfunded Accounts is capped at $400,000 per trader or per strategy.

For traders who demonstrate success and consistency over the long term, there is the possibility of increasing their bitfunded Account balance according to the Scaling Plan. The Scale-up can be requested during the Profit Split processing, provided that the account meets the eligibility criteria. Traders can initiate the Scale-up request during the Payout process directly in the Client Area. The bitfunded team will then review the track record and, if eligible, provide a scaled-up bitfunded Account for the upcoming trading period.

• How does an bitfunded Account work from the technical side?

After a client becomes an bitfunded Trader, they are provided with a demo account featuring fictitious capital.

An bitfunded Account is essentially an account with entirely simulated funds. However, it utilizes real market quotes sourced from liquidity providers. It's important to note that for bitfunded Account purposes, liquidity providers furnish bitfunded and bitfunded Traders with market quotes, but not actual money (liquidity). As a result, clients do not execute trades on live markets. The trading environment is simulated, offering a realistic market experience with genuine quotes.

In a distinct process, bitfunded engages in trading on its own account, external to the bitfunded platform, using real financial resources. During this trading, bitfunded may incorporate trading data obtained from its clients' bitfunded Accounts. bitfunded consistently monitors and analyzes trades executed by bitfunded Traders in the demo environment. Based on this evaluation, bitfunded determines whether to execute trades for its own account. Importantly, this execution process has no impact on bitfunded's clients and their simulated trading activities. These two processes are independent, and there is no influence exerted by bitfunded's trading on bitfunded Traders.

For more information about bitfunded's execution policy and trading conditions, additional details can be found on the relevant site: https://bitfunded.com/en/how-bitfunded-works/

How do I withdraw my profits?

bitfunded Traders, despite trading with simulated capital, have the opportunity to receive a real-money reward if they can demonstrate profitability on their bitfunded Account. The Profit Split on an bitfunded Account occurs on a monthly basis by default, and traders can request an on-demand payout after 14 calendar days from the first placed trade on the account. If there is profit on the bitfunded Account from simulated trading, the Profit Split Day can be adjusted up to three times for each withdrawal, with the flexibility to choose any day between 14 days and 60 days from the start of trading. If no change is made by the trader, the Profit Split Day will be anchored to the last day of the Reference Period, without further modifications in the current cycle.

Payouts are processed within 1-2 business days upon confirming the invoice, and traders can receive their profits via regular bank wire transfer, Skrill, or cryptocurrencies. No commissions are charged for withdrawals. However, bank transfers are not available for payments/payouts in specific countries due to regulatory reasons, including Venezuela, Cuba, Sudan, and Ukraine.

There is no minimum profit requirement to receive a Profit Split; traders are entitled to withdraw 80% of the generated profit. If traders meet the conditions of the Scaling Plan, their bitfunded Account balance is increased by 25%, and they become eligible for a 90% payout.

For traders who prefer to retain their Profit Split in the account to facilitate growth and build up their balance and drawdown buffer, this is an option. However, it's important to note that the 20% split (10% with the Scale-up plan) will always be deducted.

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Additionally, to cover transaction fees, there is a minimum closed profit requirement of at least $20 for bank wire and $50 for crypto payouts.

• Do I have to tax my income?

It's important to note that as an bitfunded Trader, you are solely responsible and liable for the payment of any and all taxes, levies, or fees that apply to you in connection with the bitfunded Account Agreement, as per the applicable laws and regulations. bitfunded is not authorized to provide tax advice or instructions. Therefore, it is your responsibility to ensure compliance with tax obligations and seek guidance from relevant tax authorities or professionals if needed.

Platforms

Can I change my platform during the Evaluation Process?

Certainly, if you are dissatisfied with your current trading platform choice, you have the option to request a platform change after completing each stage of the Evaluation Process. This means you can request a platform change after the bitfunded Challenge or Verification stage, as well as after each payout cycle on an bitfunded Account.

It's important to note that a change of platform is not possible during the ongoing progress of your trading activities.

• What are the account specifications?

To view the account specification in the trading platform:

1. In MetaTrader, open your Market Watch by pressing Ctrl+M.
2. Right-click on the specific instrument you are interested in.
3. Choose the 'Specification' option.

It is essential to familiarize yourself with the terms and conditions of each instrument you intend to trade.

Key details:

• Platform server time: MetaTrader 4, MetaTrader 5 = GMT+2 +DST. cTrader = customized (as per trader’s settings).
• Leverage: Up to 1:100 for Forex, and it cannot be increased. Leverage can be lowered upon request. The Swing account type has leverage set at 1:30 for Forex. Note that as you trade with simulated capital at all stages, leverage is applied to this fictitious capital only.

For additional information on symbol specifications, trading hours, and important updates, you can refer to the Symbols site for symbol specifications and trading hours and the Trading Updates site for planned platform maintenance and other significant trading updates. (Links wären einzufügen)

• Which platforms can I use for trading?

You have the option to trade your bitfunded Challenge, Verification, and bitfunded Account on some of the most popular retail platforms, including MetaTrader 4, MetaTrader 5, DXtrade, or cTrader. However, please note that due to regulatory reasons, U.S. citizens or permanent residents are not able to select the cTrader platform. You can make your platform selection in the bitfunded Challenge configurator. (Link wäre einzufügen.)

• How does the bitfunded technical infrastructure work?

bitfunded provides simulated trading services and educational tools for traders. The objective is to offer conditions as similar as possible to the real market throughout the entire Evaluation Process, including the Free Trial and bitfunded Account. In the Free Trial, clients can test the trading setup for free before entering the Evaluation Process.

Execution for all clients, regardless of the stage (Free Trial, bitfunded Challenge, Verification, or bitfunded Account), has the same settings. There is no differentiation among client groups, and everyone benefits from the same execution and account settings on the trading platform.

Execution delays, present in real market trading, are simulated on bitfunded's servers, reaching up to 200 ms. Factors contributing to execution delays include geographical location from the server/data center, internet connection, and latency. Delays are not set up individually but apply universally to all clients on a specific platform. Execution speed can be viewed in the platform terminal journal.

bitfunded charges commissions on certain asset classes to emulate real market conditions and adhere to market standards. Commission details for each symbol are transparently available on the website and the trading platform. bitfunded is known for having a competitive commission structure.

bitfunded does not apply hidden markups or additional slippage. Trades are executed based on the pricing visible on the trading platform. Slippages, whether positive or negative, occur due to technical delays explained earlier, with no preference for either direction.

Copying trades for bitfunded Traders involves a separate replication technology running in a distinct environment, ensuring no interference with the client's account. The client's trading conditions remain consistent on their platform, whether or not their trades are being replicated. This approach ensures that the trading experience for the client is not affected by the replication process.

• Can I modify my current account?

Absolutely, our system provides a flexible feature that enables you to make adjustments to your existing account. This includes the option to seamlessly switch between account types (Normal/Swing) and trading platforms. All of these modifications can be easily performed through our user-friendly interface by clicking the 'Modify Account' button within the MetriX app. You have the freedom to customize your account settings based on your preferences.

However, it's essential to keep in mind that this modification functionality is accessible only until the first trade is executed on the specific trading account. After the initial trade, some account details may become fixed for the duration of your trading activity.

ORDERS & BILLING

How can I apply for a bitfunded challenge?

Once you've registered for bitfunded, you can initiate the process of taking on an bitfunded Challenge by adjusting your account parameters at this link: https://trader.bitfunded.com/start-challenge. Following the submission of the order form, you'll be directed to the payment page, and simultaneously, an order confirmation email will be sent to you. This marks the beginning of your journey with the bitfunded Challenge.

• What payment methods are available?

The payment for an bitfunded Challenge can be made through various methods, including bank wire transfer, debit/credit card, cryptocurrencies, or Skrill. However, please note that due to regulatory restrictions, bank transfers are not available for payments/payouts in the following countries: Venezuela, Cuba, Sudan, and Ukraine. Choose a payment method that suits your preferences and regulatory considerations.

• Do we charge any other fees? Are the fees recurrent?

No, there are no additional or hidden fees beyond the one-time fee for the bitfunded Challenge. The initial fee covers both the Challenge and the Verification stages, and there are no recurring fees. Additionally, upon successfully passing the bitfunded Challenge and Verification and achieving the first Profit Split on your bitfunded Account, the initial fee will be refunded to you.

• I paid for my bitfunded Challenge, when will I get the account?

The processing time for an bitfunded Challenge account typically takes a few hours, and in rare cases, it may take up to 24 hours. Once your trading account is created, you will receive a notification via email, and your login credentials for the trading platform will be available in your Client Area. It's important to monitor your email, including spam/junk folders, for important notifications. Additionally, ensure that you keep your login credentials secure and only authorize yourself to access them, as bitfunded cannot be held responsible for unauthorized access.

• Why is there a fee?

The fee you pay for the bitfunded Challenge covers the costs associated with the operation of bitfunded, including the design, development, and maintenance of the bitfunded platform and related services. It also grants you access to various unique applications provided by bitfunded, such as the Statistical Application, Mentor Application, Account and Trader’s Analysis, Account MetriX, and trading calculators. Importantly, the fee acts as a cap, ensuring that you cannot lose more than the initial fee. Moreover, the fee is refunded to the trader with their first Profit Split from an bitfunded Account, once they successfully pass the Evaluation process.

• How many accounts can I have?

bitfunded doesn't place a limit on the number of accounts you can have in the bitfunded Challenge and Verification stage. However, once you become an bitfunded Trader, there is a maximum capital allocation limit of $400,000 per trader or strategy at any given time. Equivalent limits are also in place for other currencies.

It's important not to have multiple accounts through various registrations, as this is not permitted. If identically traded strategies are discovered through various accounts and exceed the total of $400,000 in active bitfunded Accounts, bitfunded reserves the right to suspend those accounts as per the contract.

bitfunded does allow you to combine individual bitfunded Accounts into a single master bitfunded Account upon request. The combined bitfunded Accounts need to meet certain conditions, including being at least at their initial account balance, not being in drawdown, having no profit due for Profit Split, having the same risk setup, and being in the same base currency. The single merged bitfunded Account will then have a combined balance value as well as the drawdown limits. If you wish to compound your profits, you don't have to withdraw them before merging the accounts.

Application and other services

Besides an bitfunded Account, do you provide any other value for traders?

bitfunded offers a range of features, tools, applications, and educational content to support traders in their journey. Here are some highlights:

1. Statistical Application: Provides meaningful and number-based probabilities of market behavior.
2. Mentor Application: A unique tool to help traders strengthen their discipline for better results.
3. Trading Journal: Simplifies the archiving of trading results.
4. Account MetriX: An innovative web application for monitoring progress towards becoming an bitfunded Trader.
5. Account Analysis: Offers a comprehensive assessment of trading periods with a wide selection of data and statistics.
6. Trader’s Analysis: Summarizes the entire trading history, including Free trials, bitfunded Challenges, Verifications, and bitfunded Accounts.
7. Trading Calculators: Includes Margin Calculator and Pip Calculator to determine capital needed and potential losses.
8. bitfunded Academy: Provides basic and advanced trading knowledge through educational content.
9. Quick Trade Manager: Simplifies entering new orders and assists in calculating position size in MT4 and MT5.
10. Performance Coach: Focuses on the psychological aspects of trading, offering support in this crucial area.
11. Equity Simulator: A tool to improve risk management and calculate probabilities based on current trading performance.

These tools and applications aim to enhance the overall trading experience and support traders at various stages of their journey.

• How about a free trial?

bitfunded offers a Free Trial account (Link einfügen), providing traders with an opportunity to assess their skills and experience a condensed version of the bitfunded Challenge. The key points about the Free Trial include:

1. Purpose: The Free Trial serves as an introduction to bitfunded's evaluation process, allowing traders to test their abilities.
2. Assessment: Traders can evaluate their performance in the Free Trial to gauge their readiness for the full bitfunded Challenge.
3. Eligibility: Success in the Free Trial doesn't automatically grant eligibility for an bitfunded Account. Traders still need to complete the full Evaluation Process.
4. Popularity: Free Trials are popular, with thousands of accounts created daily. To manage demand, traders are allowed only one Free Trial at a time.
5. Applications: Traders using the Free Trial can access unique applications like the Statistical Application, Mentor Application, Account MetriX, Trading Journal, and a shortened version of Account Analysis.

Traders can leverage the Free Trial to familiarize themselves with the bitfunded process and determine if they have the potential to become bitfunded Traders through the full Evaluation Process.

• How about trading psychology? Any help here?

bitfunded acknowledges the significant role that psychology plays in trading success. Recognizing challenges such as overtrading, revenge trading, greed, and fear of missing out (FOMO), bitfunded has partnered with experienced performance coaches to provide support to all bitfunded Traders. The goal is to assist traders in achieving a proper state of mind, emotional control, and psychological stability, as these factors contribute to 80% of success in trading.

bitfunded Traders can access the services of performance coaches by visiting the provided link (Link einfügen), where additional information and a contact form are available. This support is part of bitfunded's commitment to helping traders overcome psychological obstacles and enhance their trading performance.

• bitfunded Swing account type

The bitfunded Account Swing is designed for swing traders who prefer holding positions for a longer duration, giving ample time for their trades to develop. This account type is suitable for traders who engage in swing trading strategies, particularly those analyzing higher timeframes such as H1 and above. Swing traders often base their decisions on fundamentals or technical analysis expecting market sentiment to persist over several days or weeks.

To get the bitfunded Account Swing:

1. When ordering an bitfunded Challenge, you can choose the Swing account type during the configuration process.
2. You can convert your account type to Swing later on after starting your bitfunded Challenge.

For existing bitfunded Traders:

1. If you are currently an bitfunded Trader, you can switch your bitfunded Account to the bitfunded Account Swing. The conversion can be done before every new cycle (Reference Period).
2. You can request the conversion to the Swing account type after every Profit Split or after signing the bitfunded Account Agreement and before placing any trade on the original bitfunded Account.

For traders in the bitfunded Challenge or Verification stage:

1. If you are actively trading in the bitfunded Challenge or Verification, you can switch to the Swing account type after completing your current phase. Contact bitfunded support at support@bitfunded.com to request the conversion.

The bitfunded Account Swing offers flexibility for traders who prefer holding trades overnight and over weekends, making it well-suited for swing trading strategies.