FAQ’s for Trading Platform
You can only access our proprietary accounts that are funded by completing our training program. We realised over the past 2 years that a subscription strategy for access was bad for both the professional traders as well as the company. As a result, we now want to focus on the company’s main goal of developing high quality graduates equipped with all the resources that are currently available.
The training is for 1 month. Day 1 is on a Saturday (11am-4pm gmt) and the rest is Monday-Friday (7pm-9pm gmt). The entire training is via zoom, but additional support is made available locally by our local trainer where available and if required. You will have to be a degree holder or have at least a diploma with strong numerical/financial background to be take our course.
Over 2 years of operations, we realised that most traders still lacked some skills required to manage risk and discipline effectively. We also realised that majority of these traders make up the 80% statistics who fail. We therefore want to now develop a community of traders that are fully equipped with all the knowledge and skills available so that they can work with us to mutually succeed
No. There are no subscriptions to be paid. The only payment to be made is the one for training. Once training is completed, all graduates have the option to access our proprietary account and progress for free based on performance only.
Accounts department will send login details of demo/trial accounts directly to your email address. You will have this from day one of training as it is required during practical training.
You start on a Live Test account immediately after training. This is free. However if failed, you will have to pay $100 for another attempt as this is the exposure to us. It is entirely your decision to take the test immediately or later. Once the test is passed, you have the option to progress freely to the Live Professional account. You can stay on this account indefinitely s.t. t&c’s or progress of even bigger Expert Accounts by achieving key milestones and requesting for assessment.
Demo Accounts have been set up to reflect real live account trading conditions in every respect. However, you can use as many accounts as required during training or can be credited every time you hit drawdown.
You can request by sending email to firstname.lastname@example.org or by submitting upgrade request via your account profile by logging in through the site.
No. We provided a lot of opportunities for traders in the past who provided a good consistent trading history but once given access too our live accounts, they performed differently. For this fact, we cannot assess anyone based on history any longer. The history will have to be created by training and trading with us.
All training materials can be made available at the start and during training.
Yes. This will be the only payment to be made by you.
Access to all our proprietary accounts will then be free as long as the initial conditions have been met for each.
Yes, you should submit Proof of Identity and Proof of Address to email@example.com or you can upload them directly from you account profile by logging in.
We will need 1(one) proof of ID and 1(one) proof of Residence. i.e. any one from list(i) and any one from list(ii) below:
- A copy of Identification card ( National ID, passport, or driving Licence)
- Affidavit of residence or any other proof of your residence ( bank statement, Utility bill, formal lease agreement, or a stamped letter from employer
We use a lot of resources to train you. Once training is completed, we bear all the risks associated to trading as we allow you to work with us by trading on our live accounts. So it is therefore in our interest to ensure that you are well trained and equipped.
Bank transfer, debit/credit card or mobile payment if available in your country.
All our accounts now start with $25k with a leverage of 1:1. The professional account progresses to 1:3 when the first $200 is banked and maximum leverage of 1:10 when the first $1000 is banked and subject to risk approval.
For every position you trade there is a limit of 1 lot per trade you can trade as many depending on your account size and risk management.
No. Each individual is entitled to 1 live account to manage.
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).
Platform used is Metatrader 4
All trainees progress to our live daily analysis sessions as well as telegram group. These are for all our graduates. There is unlimited help /assistance daily from here.
Yes. Account growth is available on professional live as well as expert subject to risk approval.
Yes. Graduates that complete our training program have the option to work with us.
You simply request from your customer profile after logging in or send an email to firstname.lastname@example.org if you face any difficulties. Once you submit request from your account profile, it will be processed by accounts and if successful, you will receive a confirmation email within 12hrs and paid on the 28th of the calendar month as stated in our fund request/withdrawal policy.
The process of requesting funds can be made on any date of the month but payment to the trader’s bank account will be done from 28th to 30th of the calendar month.
No. Traders trading on our platforms can trade all sessions.
No trading over the weekend except for special circumstances which will require approval from risk team.
No trading binary options. But other financial instruments are allowed as demonstrated in our platform when it is accessed
Yes they are.
The improved version of Proprietary trading Account concentrates on;
- Education and training
- Cancelation of subscription fees
- creation of a community of successful traders who understand each other as well as Stochastic Africa’s goal
Yes. Please send an email to email@example.com
Proprietary trading, which is also known as “prop trading,” occurs when a trading desk at a business/financial institution, brokerage firm, investment bank, hedge fund or other liquidity source uses the firm’s capital and balance sheet to conduct self-promoting transactions.
All traders on our proprietary accounts trade on behalf of us once they complete our training. That means, we rely on skills of professional traders to trade our trading accounts with the aim of generating profits, which is shared at 80:20 (trader:stochastic).
No. Stochastic Africa is not a broker. However, just like any professional trader or business institution, Stochastic Africa uses the services of a ‘regulated broker’ to perform its trading operations and currently have a white label agreement with a top level FCA regulated firm in UK.
Stochastic Africa does not hold client’s funds neither does it trade with public funds or on behalf of the public. All trading funds used are either the business’s or funds obtained via credit facilities extended to business. We however work with top level FCA regulated liquidity provider. However, every trader using our proprietary account after training has the obligation to ensure they comply to all local regulations.
We want everyone to have a fair shot and access to our proprietary accounts. The operations of live test accounts also demands resources which cost us as a company. The $100 is only paid if the first attempt is unsuccessful and you lose us money(i.e. trainee blows up account). This is because that $100 is exactly our exposure when you trade and on second or other attempts, you will cover that exposure.
Also, paying for live test accounts vets traders so that only serious traders take up the opportunity.
Our ultimate goal is to get good traders who can trade our larger accounts with no Limit on drawdowns but responsibly. At the same time, we are responsible and have moral responsibility not to encourage non skilled traders to lose money, by failing multiple times.