At ETX, advancing from the challenge phase to a simulated funded account is an exciting milestone in your trading journey. While passing the challenge phase objectives is a critical requirement, there are additional steps that you must complete to ensure a smooth transition. Here's a detailed guide on what to expect and how to prepare for this process.
Key Requirements Beyond Passing the Challenge Phase
1. Signing Trader Agreements
Once you have successfully passed the challenge phase, the first step is to sign the trader agreements. These agreements outline the terms and conditions of your simulated funded account, including trading rules, performance rewards, and compliance requirements. Carefully review these documents to understand your obligations and rights as a trader.
2. Completing KYC (Know Your Customer) Procedures
ETX is committed to maintaining a secure and compliant trading environment. As part of this commitment, all traders must complete the Know Your Customer (KYC) procedures. This involves submitting the following documents for verification:
Government-issued ID: Front and back of your passport, driver's license, or national ID card.
Selfie: A clear selfie of yourself holding the government-issued ID.
The KYC process helps us verify your identity and ensures that all traders adhere to regulatory standards.
3. Risk Management Team Review
After you have signed the trader agreements and completed the KYC procedures, your account will undergo a manual review by our risk management team. This review is designed to assess whether you are a good fit to continue to the live trading environment. The risk management team evaluates various factors, including:
Trading behavior and strategy: Consistency, risk management practices, and adherence to trading rules.
Performance metrics: Gains, drawdown, and overall trading performance during the challenge phase.
Compliance with ETX policies: Ensuring no prohibited practices or violations have occurred.
4. Timeline for Account Activation
The review process typically takes up to 2 business days. However, please note that it may take longer if additional review is required. We strive to complete the review as efficiently as possible, but thoroughness is essential to maintain the integrity and security of our trading platform.
Additional Considerations
Communication: Keep an eye on your email for any updates or requests for additional information from our team. Prompt responses can help expedite the review process.
Patience: While we understand the eagerness to start trading with your simulated funded account, please be patient as we complete the necessary checks to ensure a secure and compliant trading environment.
Conclusion
Transitioning from the challenge phase to a simulated funded account at ETX involves more than just meeting the performance objectives. By signing trader agreements, completing KYC procedures, and undergoing a thorough review by our risk management team, you help us maintain a high standard of trading excellence and security. We appreciate your cooperation and look forward to supporting your trading journey as you advance to the next level.
For any questions or assistance during this process, feel free to contact our support team at [email protected].