FunderPro Launches New Swing Account Type With Weekend and News Holding
FunderPro, which is quickly becoming a top prop trading firm and is known for its continuous and trader-focused innovation, has implemented a new challenge type to cater to those traders whose strategy involves holding position for several days.
Answering the Requests from the Community
The decision to introduce this new challenge (and account) type comes from the requests made by FunderPro traders about being able to hold positions after the market closes and during news events.
After careful consideration, we engineered an account that allows that, while keeping intact the spirit of the original FunderPro Challenge, which wants to encourage professional risk management and long-term profitability.
FunderPro Swing Accounts: An Overview
Let’s look at the main features of this new funded challenge type:
- Hold positions over the weekend and during news events
- No minimum trading days
- Same account sizes as the Standard FunderPro Challenge
- Same profit targets and drawdowns as the Standard Funded Challenge
Details of FunderPro’s Swing Account Type
FunderPro’s Swing Account is a 2-phase FAC (Funded Account Challenge) that allows traders to hold positions over the weekend and during news events. The standard FAC requires traders to close all positions before the market closes on Friday and 2 minutes before any major news release.
With this new account type, traders who want to hold positions for longer periods will be able to do so.
The tables below show the details of the Swing Account Challenge.
Cost and Max Lots of the Swing Funded Account Challenge
| Challenge Fee | Account Size | Max Lots* |
|---|---|---|
| $269 | $25,000 | 2.5 |
| $379 | $50,000 | 5.0 |
| $599 | $100,000 | 10.0 |
| $899 | $150,000 | 15.0 |
| $1,199 | $200,000 | 20.0 |
*Maximum lots at any given time: your open positions combined cannot exceed the maximum lots value.
Rules of the FunderPro Swing Account
| Swing Account | Phase 1 | Phase 2 | Funded Account |
|---|---|---|---|
| Weekend holding | Allowed | Allowed | Allowed |
| News Holding | Allowed | Allowed | Allowed |
| News Trading | Not Allowed | Not Allowed | Not Allowed |
| Max Daily Drawdown | 5% | 5% | 5% |
| Max Overall Drawdown | 10% | 10% | 10% |
| Profit Target | 10% | 8% | n/a |
| Time Limit | Unlimited Time | Unlimited Time | n/a |
| Minimum Trading Days | 1 | 1 | n/a |
| Consistency Rule | Yes | Yes | No |
Leverages on FunderPro Swing Account Type
| Asset Class | Leverage |
|---|---|
| Forex | 30 |
| Metals, Oil, Indices | 10 |
| Stocks | 5 |
| Crypto | 1 |
Why Does the Swing Account Type Have Lower Leverages?
This new account type will have lower leverage values because holding a position for a longer period involves greater risks (and, potentially, greater rewards). In fact, price action usually moves of many more pips across several days than it does intra-day.
Essentially, you can make up for the leverage difference with the greater pip movement when holding onto a trade for longer.
Furthermore, given the higher risk of keeping position open and the fact that all our funded traders manage live funds, lower leverages help both foster better risk management and protect the firm’s capital.
The FunderPro Swing Challenge is available from the purchase page or from the Trader’s Dashboard.
