Prove you can trade profitably and get up to $100,000 under management

FREQUENTLY ASKED QUESTIONS (FAQs)

1. Am I responsible for reimbursing any trading losses?

No, there are no financial risks for the participants. The monthly subscription fee at Stage 1 and Stage 2 is $100-$300 (depending on the initial account balance). 

This monthly subscription fee is also applicable to the funded real-money accounts.

The monthly fee is $100 for a $30,000 account, $150 for a $50,000 account, and $300 for a $100,000 account.

2. How does the 2% Maximum Weekly Loss work at Classical version of the Stage 2?

It works in a same was as the Maximum Daily Loss, but does so based on the last seven calendar days, rather than just a single trading day.

Example #1
If a trader has had a maximum portfolio value of $30,000 and he has not traded over the past 7 calendar days (i.e., the portfolio is still at $30,000), then the loss amount the trader should avoid is $600 (2% of the portfolio value).

You can find full explanation with more examples in our blog

 

3. At what time each day will the Stage 2 Competition table be updated with new points and placings?

It will be updated at the conclusion of each trading day.

4. Will I be able to see my ranking within the Try2BFunded terminal?

Yes, within the Try2BFunded terminal there will be a contest table that contains real-time data.
A more detailed version can be found on Novoadvisor by clicking on the ‘More Details’ link.

5. What happens if I do not get one of the top 2 spots in the Tournament?

If you did not hit the maximum allowable drawdown during the Tournament (20%), you would get the chance to begin another Tournament once your current one has concluded.

6. For Tournament Stage 2, is there a maximum daily or weekly loss like in Standard Stage 2?

No, there is not. There is only a maximum drawdown.

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7. Does Tournament Stage 2 have a minimum profit target?

Yes, you must make a minimum of 2% profit during the three-week tournament period.

8. Is it better to use a market order or limit order?

We don’t provide trading advice. However, if precise price execution is important, it is highly recommended to use limit orders on our platform. 

9. What is the difference between a market order and limit order?

A market order will execute a buy or sell order of the security immediately at the next available price.

A limit order will execute a buy or sell order of the security only when the specified price (or better) is available.
 

10. What happens if I get to the funded real-money account and have a 4% drawdown or 2% daily loss? Do I lose access to the account?

On a funded real-money account, in the event it has drawn down 4% from the starting account balance (or starting account balance as of the last payment distribution) or incurred a 2% daily loss, the internal risk system will cease access to the funded real-money account and will return the trader to the beginning of Stage 1.

11. Does the list of instruments stay the same throughout the qualifying stages and once on a funded real-money account?

Yes, there is the same list of instruments available for trading throughout all parts of the program.

12. Are commissions/trading fees applicable to the program?

Commission charges are emulated in Stage 1 and Stage 2 of the program, and will be applied on the funded real-money account.
The fees are as follows:
US Markets (NYSE, NASDAQ): $0.001 per share (min $0.20 per trade)

13. Can you give an example of how withdrawals work?

If a trader takes a funded account from $50,000 to $55,000, the withdrawal amount available will be $3,000 based on the trader’s 60% split [($55,000-$50,000) * 60%], with $2,000 going to the company based on the firm’s 40% split. The account will therefore be reset to $50,000 to account for the distribution of funds.

14. Is there a minimum or maximum amount withdrawal requirement?

All withdrawals have no maximum amount limits.

The minimum amount allowed for withdrawal is 6% of the size of the account under management. 
• If the account is $30,000, then the minimum withdrawal amount is $1,800.
• If the account is $50,000, then the minimum withdrawal amount is $3,000.
• If the account is $100,000, then the minimum withdrawal amount is $6,000.

Please note that traders must be above their high-water mark plus 6% or higher before receiving the 60% split of their profits. If, for example, a trader on a $50,000 starting balance draws down to $49,000, no profits can be taken on the account until the balance is back above $50,000.

15. If I make it through the qualifying stages to a funded real-money account, what are the withdrawal conditions if I am profitable?

For any trader who successfully passes through the qualifying stages and trades profitably on a funded real-money account, withdrawals are available upon request. There is the minimum amount allowed for withdrawal is 6% of the size of the account under management. 

If profits have been made, you are not obligated to take the entire amount that is available to withdrawal (or any amount) if you would like to use the higher account balance to trade larger amounts. Moreover, we strongly recommend all traders to leave a part of their profit as a protection that could serve as the cushion to ease the losses caused by the unfavorable market moves.

16. If I open a new account, will my other account(s) close automatically?

No, you may have multiple accounts open at the same time, and other accounts will not be closed automatically.

17. Can I have multiple accounts open at the same time?

You can have multiple accounts open in the demo stages (Stages 0, 1, and 2).

You may have only one (1) account open at a time on the Funded Stage.

18. How do I cancel/delete my account or cancel my subscription?

The monthly subscription fee can only be paid manually. It is not an automatic charge. Accordingly, if you wish to cancel your account, you may simply let your subscription expire and you will no longer be charged. 

19. Is it possible to put my monthly subscription on hold?

The monthly subscription fee is not automatically recurring. You will need to pay it manually once per month in order to keep your account active.

Once your monthly subscription expires, you will receive an alert message on your screen to renew.
Please note that all fees already paid toward the subscription fee are not refundable.

20. How much is the capital contribution after the subscription fee?

There is no capital contribution of your own required.

21. Do I have to pay the monthly subscription fee out of pocket?

It can be paid for by credit card (Visa and Mastercard only).

22. What does the $100-$300 fee cover?

The monthly fee covers the costs of providing real-time market data, support, and internal costs of maintaining the platform. It also accounts for the benefits that come from using our capital at no risk to participants on funded real-money accounts. The fee is essentially a monthly ticket for entry into the program.

23. Can I change my account size after I get started in the qualifying stages?

A user is able to change an account size at Stage 1 or Stage 2 at any time (and without needing to open a new account). You would need to go to the start of the current stage and select a different amount.

24. What happens if I qualify for the first stage, but then fail the second stage?

If you fail the first or second qualifying stage, you will be returned to the beginning of Stage 1.

25. How long does it take to qualify?

It is entirely dependent on your trading results. There is no time limit as we want you to focus on sound trading strategies that identify positive expected value and high reward-to-risk opportunities.

26. Beyond stocks and ETFs, do you offer trading in options, futures, bonds, forex, and/or commodities?

No, we do not at this time. At the moment, we offer trading in stocks on the US major markets

27. What are the trading conditions for the funded account in the event both qualifying stages are successfully passed?

Traders who successfully pass both stages of Try2BFunded will get a funded account with an amount equal to their starting paper trading/demo balance. 

All trading profits thereafter would be split as 60% to the trader (you) and 40% to the company. 

The trading conditions are the same as for Stage 2.
 

28. Is there a daily turnover requirement on the funded, real-money account?

No, there is no subsequent turnover requirement for the funded, real-money account.

29. How do I know what my daily turnover requirement is?

The turnover requirement pertains to one’s starting account balance (i.e., $30k, $50k, $100k, or amount after your latest withdrawal if on a funded real-money account). It is not dynamically pegged to one’s current account balance.

30. What is the deposit turnover requirement?

Traders must turnover their account balance once daily for five days on Stage 1 and the same for ten days on Stage 2. It does not need to be in consecutive days.

That means for Stage 1, if you are on a $100,000 account, you must trade in $100,000 of volume in five different days. This requirement increases to $100,000 of trade volume (or whatever the starting account balance) in ten different trading days for Stage 2.

31. What does “daily deposit turnover” mean?

Daily deposit turnover refers to the need to trade the equivalent of one’s account balance in one trading day. This is a requirement during the demo/paper trading phases of the program so traders can demonstrate that they can profit while managing risk at the same time. 

32. Are there time limits? Do I have to reach the 6% profit target within a certain period of time?

No, there are no time constraints.

33. If I am stopped out of a stage from a 4% drawdown or 2% daily loss, what happens?

If you are in Stage 1 or Stage 2 of the program and incur a 4% drawdown or 2% daily loss, you will return to the beginning of Stage 1.

34. What is the difference between max drawdown and max daily loss?

Max drawdown is the maximum allowable size of the unsettled loss at any moment during an individual stage of the contest.

Max daily loss is the maximum allowable unsettled loss that can be incurred in any given day.