FAQs

Steps to take when facing an underpayment situation Instructions for customers to contact us for a new wallet address instead of adding funds to the original wallet

Traders are considered independent contractors and are accountable for taxes on their profit share - Responsibility for taxes on profit share falls on the trader when trading a Funded account.

Refunds will not be available once the initial trade has been executed.

Upon receipt of payment, we will promptly begin processing your Alains traders account. Typically, we process Alains traders accounts within a few minutes, although Crypto payments may experience delays due to network congestion. Your Alains traders account details will be sent to you via email once your trading account is created. You can find your login credentials for the trading platform in your dashboard and email. Please regularly check your mailbox, including spam/junk folders, for important communications.

No extra or undisclosed fees are applied. At the checkout, you have the option to personalize your 1 phase and 2 phase assessment, which incurs a one-time charge. The fee includes both the challenge and verification for the 2 phase assessment, and there are no recurring fees.

The countries listed below are restricted from engaging in trading activities at Alains traders: US, Canada, Afghanistan, Yemen, Palestine, Myanmar, Nicaragua, Congo Republic - Crimea, Democratic Republic of Congo, Eritrea, Guinea, Guinea-Bissau, Papua New Guinea, South Sudan, Vanuatu, Venezuela, Algeria, Russia, Kenya, Ghana, Zimbabwe, Iran, Iraq, North Korea, Somalia, Vietnam, Burundi, Central African Republic, Ivory Coast, Liberia, Libya, Sudan, Zaire, Cuba, Syria. These countries may be subject to change based on political circumstances and internal regulations.

To begin an Alains traders challenge, you must acquire one from us to commence your journey. During the purchase process, you have the option to select the type of challenge, add-ons, and platform of your choice. After placing your order, you will be provided with login credentials on your dashboard and will also receive them via email. Additionally, newcomers can participate in our complimentary monthly competition to get started with trading.

Alains traders provides traders with simulated evaluation accounts, where actual funds are not used. These evaluation accounts are used by our proprietary firm to evaluate and discover successful trading strategies. Upon completion of our assessment process, traders can continue to access our simulated market environment and potentially earn performance fees as a Qualified Analyst.

Access to a trader dashboard is granted upon purchasing an Assessment, allowing you to keep track of your assessment and funded accounts. The dashboard is regularly updated, approximately every 60 seconds or whenever trades are opened or closed, to provide you with the latest metrics. It is your duty to monitor your breach levels and ensure they are within the acceptable range.

Upon successful completion of the Assessment, we will grant you access to a live account.

Successfully complete the challenge to move forward in the process. Review of KYC documents by the trading team using Sumsub verification. Sign the Proprietary Trader Agreement to become an independent contractor and receive funded account credentials.

Trading periods for each phase must last a minimum of 5 days. Even if the profit target is reached early in a phase, the trader must continue trading for the remaining days. Funded trader status can be achieved in as little as 6 days with the 1 phase assessment option.

Withdrawals are processed from Monday to Friday, between 9AM and 9PM GMT. Withdrawal requests made during the weekend will be processed on the next business day, which is Monday. If a withdrawal request is made after 9PM GMT on weekdays, it will be processed on the following day. When requesting a withdrawal, please ensure that you have filled out and updated the withdrawal request form. The withdrawal request form should be attached to the email when you submit your payout request.

1. When initiating a withdrawal on a 1 phase account, it is important to understand that the drawdown becomes fixed at your initial starting balance. For instance, if you begin with a 100k account and your daily drawdown is 5% with a maximum trailing of 6%, your daily drawdown level would be $95,000 and your maximum trailing would be $94,000. 2. Let's consider a scenario where you make a profit of $8,000 and decide to withdraw $6,000. Since your account has achieved a 6% increase, your maximum drawdown will now be locked in at $100,000. Consequently, you will only have a 2% buffer remaining for maximum drawdown. 3. In another scenario, let's assume you make a profit of $20,000 and request a withdrawal of $10,000. As a result, your maximum drawdown will be fixed at your starting balance of $100,000. This means that you will have a buffer of $10,000 until you reach your maximum drawdown at $100,000. Please be aware that failing to leave a buffer and reaching the maximum drawdown level without any remaining balance will result in the forfeiture of your account. However, we will still process the full withdrawal as requested. For instance, if your 100k funded account shows a 10% increase, you will qualify for a $10k payout. You have the option to request the full $10k, but keep in mind that once the payout is processed, the maximum drawdown threshold will be fixed at your initial balance. Consequently, your new maximum drawdown threshold will be $100k, and any new trade placed after your account is reactivated will breach this threshold. Alternatively, you may choose to request only half of the payout amount, which would be $5k in this scenario. By doing so, your account will have a $5k buffer before reaching the maximum drawdown threshold. It is important to note that certain actions will result in your account being breached, such as withdrawing the entire eligible payout amount, hitting the maximum drawdown threshold, or exceeding the maximum daily drawdown limit.

Traders have the option to request a payout through their trader dashboard. The initial withdrawal can be requested immediately after closing the first profitable trade, and subsequently every 30 days. For instance, if you generate profits on the first day of trading in your live account, you can initiate a withdrawal. At the checkout stage, traders also have the opportunity to upgrade to bi-weekly payouts. Moreover, if you prefer to leave your profits in the account and allow them to compound in order to grow your account, you have the flexibility to do so. However, please note that upon requesting a withdrawal, your account will be set to read-only until the withdrawal is approved.

Our prop firm currently provides exclusive access to the MetaTrader 5 trading platform.

Swap fees, also referred to as overnight financing costs or rollover fees, are fees imposed by forex brokers for holding positions overnight. These fees reflect the cost of financing leveraged positions in the forex market. When trading on margin, you borrow one currency to purchase another, and the interest rate difference between the two currencies determines the swap rate. Depending on the interest rate differential, you may receive a credit (positive swap) or incur a charge. Currently, Alains traders does not offer swap-free accounts, but we are continuously working to enhance our services and may consider adding this option in the future.

Alains traders offers a maximum virtual capital growth of $2 million to traders. Those who reach a 10% virtual capital growth on their trading account are eligible to request scaling. The scaling amount will be 25% of the initial account balance, enabling traders to request performance fees and scale at the same time.

Alains traders offers traders a secure trading environment with industry-leading execution metrics. Traders can enjoy commission-free trading on FX, Metals, Crypto, and Indices at Alains traders. Alains traders provides some of the fastest execution metrics in the market, ensuring confident trading for traders.

Copy trading is prohibited on the Alains traders platform.

It is not compulsory to use stop loss and take profit orders, but it is highly advisable to do so.

The use of Expert Advisors (EAs) is not permitted on our MT5 Platform for trading.

Swap fees, also referred to as overnight financing costs or rollover fees, are fees imposed by forex brokers for holding positions overnight. These fees reflect the cost of financing leveraged positions in the forex market. When trading on margin, you borrow one currency to purchase another, and the interest rate difference between the two currencies determines the swap rate. Depending on the interest rate differential, you may receive a credit (positive swap) or incur a charge. Currently, Alains traders does not offer swap-free accounts, but we are continuously working to enhance our services and may consider adding this option in the future.

Alains traders offers a maximum virtual capital growth of $2 million to traders. Those who reach a 10% virtual capital growth on their trading account are eligible to request scaling. The scaling amount will be 25% of the initial account balance, enabling traders to request performance fees and scale at the same time.

Alains traders offers traders a secure trading environment with industry-leading execution metrics. Traders can enjoy commission-free trading on FX, Metals, Crypto, and Indices at Alains traders. Alains traders provides some of the fastest execution metrics in the market, ensuring confident trading for traders.

Copy trading is prohibited on the Alains traders platform.

It is not compulsory to use stop loss and take profit orders, but it is highly advisable to do so.

The use of Expert Advisors (EAs) is not permitted on our MT5 Platform for trading.

Trading parameters violation will result in automatic invalidation of the account, prohibiting further trading. Forfeiture of the initial fee paid is also a consequence of breaching trading parameters. Traders experiencing losing periods can restart from phase 1 at a discounted rate.

The maximum drawdown refers to the highest level of decline that your account can experience before reaching a critical point where your account would breach its limit. Upon opening your account, the maximum drawdown is initially set at 10% of your starting balance. This value remains constant throughout the entire duration of your account.

The guidelines governing the Funded account mirror those of your Assessment account. It is crucial to recognize that the 1, 2, and 3 phase assessments come with distinct parameters and drawdown rules, hence it is essential to verify which aligns best with your trading approach. Nevertheless, a Funded account allows for unlimited potential in terms of performance.

The Maximum Trailing Drawdown refers to the highest level of account drawdown that would result in a complete breach of your account. Upon opening your account, the Max Trailing Drawdown is initially set at 6% of your starting balance. This 6% value follows the High Water Mark until your account achieves a profit of 6%. Once you have reached a 6% profit in your account, the maximum trailing drawdown becomes fixed at your starting balance and no longer adjusts according to your account's performance. 1. In the first scenario, if you initiate trading with a $100,000 account, the maximum allowable loss will be capped at 6%, which amounts to $6,000. Consequently, it is imperative that your account's equity does not fall below $94,000 at any point in time to avoid breaching this limit. 2. Moving on to the second example, if your account balance or equity reaches $105,000, the maximum drawdown will be established at $105,000 minus $6,000, resulting in a value of $99,000. This signifies that your account's equity or balance should never dip below $99,000 during any given period. 3. Lastly, in the third scenario, if your account balance surpasses $106,000, the maximum trailing drawdown will be fixed at $100,000. This implies that your account's equity or balance must always remain above $100,000, without any exceptions, regardless of the circumstances.

The Daily Loss Limit is determined by the closing balance from the previous day at 5pm EST. If your account balance was $100,000 at the end of the prior day, you would exceed the Daily Loss Limit of 5% if your equity dropped to $95,000 the following day. The calculation for the Daily Loss Limit is based on the end of day balance from the day before.

Traders have the freedom to keep their positions open overnight and throughout the weekend. Nevertheless, it is important to keep in mind that this choice will involve incurring swap fees.

Assessment accounts have the advantage of being able to make purchases without any set limits. This feature enables users to navigate the platform freely and take advantage of all it has to offer. Qualified Trader accounts, however, are subject to the Max Allocation limit.

Alains traders Assessments can be refunded

Our requirement is that all trades must have an average duration exceeding 2 minutes, as part of our risk mitigation strategy. This policy aims to prevent manipulation of our price feed by high-frequency traders and minimize the risks associated with tick scalping. We have implemented this measure in good faith to ensure a fair and transparent trading environment.