How do I qualify trading on Live Proprietary trading Account?
You should either submit your three months positive trading history but if you don’t have it you are required to trade in our demo account and hit a profit of 10% of the account size. Alternatively, you can subscribe to the Non Risk-Assessed (N R-A) account which does not require initial assessment from us.
Do I have to do a trial run first or I have to present trading records?
You either have to submit your three months positive trading history but if you don’t have it you are required to trade on our demo account and hit a profit of 10% of account size.
Do you clear subscription fee first before trading on demo accounts?
No. Demo account can be accessed for free.
Are there conditions to trade in the demo account?
No. But you are supposed to hit a 10% profit as an initial condition to be qualified to trade in Live accounts.
How will I receive the login details to the demo account?
Accounts department will send login details directly to your email address.
How long does it take for a client to receive trial Account logins or Live Account logins?
It takes maximum of 3 days to receive your logins details.
Does Demo Account have a draw down and profit target?
Yes it does have a targeted profit of 10% and a maximum drawdown of 5% of account size/
How do I send evidence after hitting a target of 10% in the demo account?
You request for assessment by sending an email to email@example.com and send your documents for verification to firstname.lastname@example.org.
Am I allowed to send screenshot of my trading history?
You are required to send Statement of Trading history. If however you used Stochastic Demo accounts, you only need to reference your demo account number, so no need for history.
How to download my trading history from the platform?
You can request this from your broker.
Am I allowed to pay upfront before passing assessment stage?
No. You will only be required to clear subscription fee after being assessed and allowed to proceed with other procedures.
But in the case of NR-A accounts, you can pay upfront during the subscription registration process as this account does not require initial assessment.
Before I clear subscription fee do you require submission of documents first?
Yes, you should submit Proof of Identity and Proof of Address.
Which documents are needed to be approved before receive my live Account?
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
Why am I supposed to clear the subscription fee to access a live account?
This is a facilitation fee to link you with the Financiers.
Which payment methods can I use to clear subscription fee?
Bank transfer, debit/credit card or mobile payment if available in your country.
What is the leverage in the proprietary accounts?
A maximum leverage of 1:10
What is the maximum lot size with your 1:10 leverage in all accounts?
For every position you trade there is a limit of 1 lot per trade you can trade as many depending with your account size and risk management.
Is it possible for One client to register for multiple trading Accounts?
We offer One Account for one client.
Which assets can be traded in Stochastic Africa’s Proprietary Trading Accounts?
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).
What are the trading platforms used to trade with Proprietary trading Accounts?
Platform used is Metatrader 4
How to go about making clearing subscription fee?
To clear subscription fee you first need to pass our assessment stage (for Professional and Platinum accounts), then you can register for a live account in the package of your choice after submitting your particulars you can add the product to the cart and proceed with other checkout process, you can pay via bank transfer, debit/credit card or mobile payment if available in your country.
Is Account growth available or not?
Yes. But only in the Platinum account or under special unique circumstances.
Is the capital fund given to members only?
No. All professional traders can have access to the capital fund.
How can I withdrawal Profit from my Trading Account?
You simply fill in the fund request form found on trading capital page. Once you submit, it will be processed by account and if successful, you will receive a confirmation email within 12hrs and paid on the 25th of the calendar month as stated in our withdrawal policy.
How long does it take to process withdrawal of funds?
Maximum of 5 working days from the 25th of the calendar month.
Are traders allowed to trade around London session only?
No. Traders trading on our platforms can trade all sessions.
Can I trade over the weekend?
No trading over the weekend except for special circumstances which will require approval from risk team.
Can I trade Binary Options and other financial services apart from forex?
No. All assets that are allowed can be seen on our platform when it is accessed
Are the previous accounts disabled?
Yes they are.
What are the additional services compared to the previous services of the product?
The improved version of Proprietary trading Account concentrates on;
Increasing of leverage
Reduction of Subscription Fee
Simplified methods of Accessing the Accounts
Can I request to adjust my start date of trading?
Depends on the reason to postpone before starting trading, requests should be sent to email@example.com. You can take a break in between trading months and when you come back you will find the account the same as you left off in the previous month