Frequently Asked Questions
We understand that choosing the right fund management service is an important decision. That’s why we’ve compiled a list of the most frequently asked questions to help you learn more about our process, performance, and what you can expect.
1. What is the Minimum Amount I Can Deposit on a Live Account?
The minimum funding required for Prop Challenges Passer ’ live funded brokerage account management service is $5,000. To have your live account managed, your current account balance should not be less than this amount.
2. Are There Any Lock-in Periods?
No, there isn’t a time limit. You are always free to withdraw in full or in part. However, if you choose to go on trading at the same profit level, we urge you to withdraw only your net profit. Keep in mind that withdrawing more than your net profit reduces your capital, which affects future trade gains by reducing lot sizes from forthcoming deals.
3. Do I Have Control Over My Account?
You have complete control over your account even though you allow us to trade on your behalf. You have the option to cancel LPOA at any moment, withdraw money without incurring fees, or change your password with your broker’s assistance. There are no withdrawal restrictions even while using pooled funds; instead, your profit or loss is realized in proportion each time you take money out of the pool.
4. Can Prop Challenges Passer Access My Brokerage Client Area?
No. We do not have access to client brokerage client area. The only information you share with us is the credentials to your trading platform e.g MT4 or MT5. We do not need any access to your client area for any reason. Note that only trading activities can be carried out on the trading platform. Activities such as deposit and withdrawal can not be done on the trading platform.
5. What is a Forex PAMM Account?
A Forex PAMM (Percentage Allocation Management Module) account is an investment service where investors allocate funds to be managed by professional Forex traders. Profits and losses are distributed among investors based on their percentage of contribution to the total managed funds.
6. What is a Prop Firm?
A prop firm, or proprietary trading firm, is a company that uses its own capital to trade financial instruments such as stocks, bonds, currencies, and commodities. Prop firms employ traders to execute trades on their behalf, aiming to generate profits from market movements. Traders typically share a portion of the profits with the firm, and the firm provides them with the necessary capital, training, and resources to succeed.
7. What is Stock Investment?
Stock investment is the process of buying shares of a company in the stock market with the expectation that the value of the shares will increase over time, allowing the investor to earn a profit. Investors can also receive dividends, which are periodic payments made by the company to its shareholders. Stock investment offers the potential for significant returns, but it also carries risks, as stock prices can fluctuate based on company performance, market conditions, and economic factors.
8. What is Forex Copy Trading?
Copy trading is an investment strategy where individuals automatically replicate the trades of experienced and successful traders in real-time. This allows novice investors to benefit from the expertise and strategies of professional traders without having to make trading decisions themselves.
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