Basic (N R-A)Account
Terms and Conditions
Remote traders are compensated on a profit split basis only. You keep 50% of your profits once (and only when) you hit your target of 5%.
There is a 5% draw-down on the account for all remote traders, which triggers a review of the trading account with your risk manager.
Remote Trader Policies and Guidelines
(1) All Remote Traders are required to abide by the trade policies, guidelines, and risk management as set out by Stochastic Africa and our Implementing partners at all times. Please be advised that trade rules, especially those covering risk, are subject to change at any time. All clarification on any of the below should be sought prior to trading.
(2) Traders will initially run a $25,000 book, trading the G10 FX pairs, Gold, Silver, Major indices or as agreed.
The following currencies may be traded as pairs:
United States dollar (USD), Euro (EUR), Pound sterling (GBP), Japanese yen (JPY), Australian dollar (AUD), New Zealand dollar (NZD), Canadian dollar (CAD), Swiss franc (CHF), Norwegian krone (NOK), Swedish krona (SEK) or any other if pre- approved.
GOLD AND SILVER:
Gold (XAU/USD), Silver (XAG/USD)
Germany30 (GER30Cash), US30 (US30Cash), France40 ( FRA40Cash), UK100 (UK100Cash), Europe 50 (EU50Cash), US 500 (US500Cash), US100 (US100Cash).
(3) Maximum Leverage of 1:10 and maximum lot per trade is 1.0 for live accounts.
(4) Trading hours are normally 6:00am – 9pm (Monday – Friday) London time.
(5) Overnight positions allowed.
(6) This particular account is not risk assessed. All other functions are same as Professional Account. To minimise exposure, Traders on this account are expected to strictly follow rule (9) below.
(7) Hedging is not allowed unless approved. 2 or more opposing positions that result in margin limit breaches are deemed to be unauthorised trading activities.
(8) Unauthorised positions will result in the termination of the subscription.
(9) Facilitation fee of $500 month 1 (to cover subscription for 3 months). Then month 2 and month 3 are Free. It then becomes a professional subscription of $200/month onwards from month 4. When purchasing subscription, kindly select (2) in the (QTY) field of the payment gateway service.
(10) Traders will not be liable for losses caused by trading activity.
50/50 profit split ratio shared between Stochastic Africa and Implementing partners and the trader.
All withdrawals are based on 5% profit blocs.
a)BANKING, WITHDRAWAL REQUESTS & TOP-UPS
i. We now encourage all traders to bank their profits by processing “fund request” at https://stochasticafrica.com/withdrawal-requests/ anytime they have at least 5% growth in their trading account. This protects withdrawn amounts for the trader but also encourages traders not to take excessive risks with the capital left in the trading account. We automatically bank the first 5% profit for any new account on trader’s behalf.
ii. A trader can withdraw/ bank multiple times as they wish up to the 20th of every month for the trader’s share of 50% to be paid to trader on the 25th of the same month. All requests made after 20th of a month will be processed and paid the following month.
iii. If trader banks their withdrawal funds, and is in need for additional funds in their trading account for any reason, they can request via email to firstname.lastname@example.org for funds to be credited in their trading account, provided their share of profits has not yet been transferred to their personal accounts on the 25th. In such scenario, the maximum that can be transferred back into the trading account is trader’s 50% share as the fund owners will retain their share of 50%.
b) MINIMUM ACCOUNT NET EQUITY BALANCE
A trader’s trading account must not have a net equity of less than -2.5% of account size, on the 25th of the month which is date of payment for profits withdrawn to be paid (for eg., on a $25k account, the balance or net equity must not be less than -$625 on the 25th when funds requested are paid out) .
If not, trader has the following options:
i. wait until the next accounting period and ensure account balance or net equity not less than -2.5% of account size(>= -$625 for $25k accounts) by date of payment;
ii. request to transfer from the banked profits back into trading account to bring its net equity balance to at least >=-2.5%. Then any extra funds remaining from the trader’s share can be processed to go into traders account on the 25th. Since we do everything in blocks of 5%, then any instruction for payment to or from banked profit will be in blocks of 50% (5% of account) which is trader’s share.
c)5% ACCOUNT LOSS
Once a trader hits the maximum drawdown of 5% on an account, account will be closed and trader will not be accepted again in our program.
Capital Management Increases
There is capital management increase for traders who achieve 10% growth on the account. The 10% profit has to be retained in our vault account when account size is moved from one level to the other. All additional profits can be withdrawn normally. They will be able to apply for and get a Platinum ($50,000) account subject to Risk Assessment Approval.
CAUTION: Make sure you DON’T clear subscription fee for a live Account until after you pass our assessment stage.