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Challenge
Terms & Conditions
By Signing up to the Day Trading Funded Trader Program, you will be agreeing to all of the following Terms and Conditions below:
WHAT IS CITY TRADERS IMPERIUM™ "CTI"?
- City Traders Imperium™ is an educational company that runs an online educational trading community and a prop trading firm that funds its traders through its Funded Trader Program™.
- City Traders Imperium™ (Reg. No. 00003522228) and "Funded Trader Program™ (Reg. No. 00003495062) are registered trademarks of City Traders Imperium Limited.
- City Traders Imperium Limited is a privately-owned company under the brand name "City Traders Imperium™" or "CTI". It is registered in England & Wales with the company number 11463147 and VAT number GB 341124840.
- City Traders Imperium is not authorised or regulated by the Financial Conduct Authority. Accordingly, it does not undertake any regulated activities, and it operates in compliance with the FCA guidelines.
- City Traders Imperium is not a financial institution of any kind. It's not a broker, and it does not market for any brokerage services.
- City Traders Imperium does not invest clients' capital or trade it on the financial markets. All funding is provided by the company's own and its directors' capital.
- City Traders Imperium provides a practical evaluation for educational purposes in its Funded Trader Programs to traders from any nationality, giving them an opportunity to enhance their risk management and trading psychology and compounding profits.
- City Traders Imperium is continuously looking for the best traders looking to develop and build their careers by trading the company's own capital and joining its online trading floor.
Who is involved in this Agreement?
City Traders Imperium, "CTI" (The Company): CTI is the company providing funding to its students and Evaluation Traders.
You (The Student and/or The Funded Trader): By signing up for the Challenge Funded Trader Program™, you agree to the Terms and Conditions of Funding as presented on the following pages: "Challenge FTP", "Challenge Scaling Plans", "Withdrawals", "FAQs", and "Challenge Terms and Conditions" page.
Upon signing up, you will have two roles to progress:
1. Challenge Trader (CT): A funded trader pursuing either Phase 1 or Phase 2 on a Demo Challenge account to qualify to become a CTI Funded on Phase 3 once all the Phase I and II trading objectives are met.
- Challenge Phase 1: is the first Phase of the Challenge Funded Trader Program, where the Challenge Trader is provided with a Demo account as a practical part of CTI's educational journey to become a CTI Funded Trader in Phase 3.
- Challenge Phase 2: is the second Phase of the Challenge Funded Trader Program, where the Challenge Trader is provided with a 2nd Demo account to become a CTI Funded Trader in Phase 3. At this stage, the Challenge Trader must have shown to be consistently profitable for the period of Phases 1 and 2 and have followed all the terms and conditions of this Agreement.
2. CTI Funded Phase 3: An Challenge trader achieved Phases 1 and 2 objectives and moved to Phase 3.
- CTI Trader Phase 3: this is the phase where the Challenge Trader has passed Phases 1 and 2. The Funded Trader will be fully qualified during this phase, and CTI will contract the trader to trade the Company's own capital.
Who can be funded by CTI?
- The Traders can be anyone who is above 18 years.
- Any Trader from any nationality (Europe, North America, South America, Africa, Asia, Australia, & New Zealand) can join, excluding clients from the following countries: Syria, North Korea, Cuba, & Iran.
- The funded accounts are available for individual traders to trade the CTI's capital during the Evaluation and Portfolio Manager Phases.
- For KYC purposes: upon passing the Evaluation, the Funded Trader must provide the following:
- Proof of Identity: a valid ID, Passport, or Driving Licence.
- Proof of Address: a Recent Utility Bill, Bank Statement, or Broadband Bill dated no older than three months.
- The Funded Trader Program is not designed for large organisations, a group of individuals, or copy traders.
- The Funded Trader must have at least some experience with forex trading terms, such as the difference between Market Orders, Limit Orders, and Stop Orders, Market Open and Closing Hours, Economic Calendar and News Releases, Flexible and Fixed Spreads, Overnight Rollover Time, Commissions, Overnight Swaps, Pip, Point Value, Lot Size, Stop Loss, Take Profit, Market Order, Stop Order, Limit Order, Ask, Bid, Relative Drawdown, Absolute Drawdown.
- The Funded Trader must also demonstrate adequate trading skills in all the Funded Trader Program phases.
- The Funded Trader must understand the terms and conditions of this Agreement before signing up for any funding plans and their minimum requirements.
- The funded trader must adjust their risk exposure to match the requirements of the Funded Trader Program before starting to trade with CTI's capital.
THE CHALLENGE FEE STRUCTURE, REFUND, & Free Retry Policy
- If you are in Phase 2 and your account has expired without breaching any of the terms and conditions, we will give you the opportunity to try for the 2nd time for free.
- CTI will refund the sign-up fee with the 1st withdrawal once the Funded Trader becomes funded in Phase 3.
- CTI does not refund any sign-up fee to the Funded Trader once the Challenge account has been traded.
- If the Funded Account has not been traded, CTI will refund the sign-up fee up to 7 days after the sign-up date.
- The sign-up fee is not a deposit into a trading account of any kind.
- CTI charges only a One-Time fee as an Access fee to the Demo Challenge account to cover the trading costs of operating the Funded Trader Program.
- CTI does not charge any monthly or recurring fees throughout the Funded Trader Program.
- The Funded Trader cannot upgrade to a larger Funded Account nor downgrade to a smaller Funded Account once the Funded Account has been traded.
The Trading Platform
- CTI provides the trading platform MT5 to its Funded Traders upon signing up for Windows and MAC operating systems.
- The Funded Trader will have complete control of the trading platform and be the only person accessing the account.
- CTI will not interfere with any Funded Traders' accounts unless they fail to comply with the terms and conditions of this Agreement.
- CTI offers an EA and Indicator Development service, which can help you if you have an EA or Indicator that works on MT4 and you wish to convert to MT5.
List of Tradable Assets: Forex, Gold, & Indices
Majors: EURUSD, GBPUSD, NZDUSD, AUDUSD, USDCHF, USDCAD, USDJPY.
Minors : EURGBP, EURNZD, EURAUD, EURCHF, EURCAD, EURJPY, GBPNZD, GBPAUD, GBPCHF, GBPCAD, GBPJPY, NZDAUD, NZDCHF, NZDCAD, NZDJPY, AUDCHF, AUDCAD, AUDJPY, CADCHF, CADJPY, CHFJPY.
Commodities: Gold, Silver, Oil.
Major Indices: S&P500, US30, US100, DAX, UK100, F40, JP225, STOXX50, AUS200.
For more information on Symbols specifications, please click here.
Trading Styles & EAs
You agree that before your commitment, you already have a trading strategy and have experience in good risk management practices, which is important to pass the challenge.
- Trades Duration: With CTI, you can trade any trading style (scalp, day trading, or swing trading).
- Weekend Trading: Any trades can be left open on weekends without restrictions.
- News Trading: You are allowed to trade during all low, medium, and high-impact news without any restrictions.
- EA: EAs are allowed except the EAs of Martin Gale, High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, Any Tick Scalping Strategies, Any Reverse Arbitrage Trading, Any Hedge Arbitrage Trading, and Any use of emulators are not allowed. Using any of the EAs mentioned above will cause immediate termination of the account.
- Copy Trading: Any Copy Trading of other people's signals, Group Trading with other individuals, or funded account management services are not allowed. Any Copy Trading activity mentioned above will cause immediate termination of the account. However, you can copy trades from your personal account to our account, provided that you can supplement proof to us.
- Stop Loss: You must use a stop loss on every trade as soon as you can within 5 min window. Failing to do so will cause the termination of the account.
What the Funded Trader must not do
- The Funded Trader must not trade the Funded Account in coordination with other active traders on the same account. However, the Funded Trader can share and discuss trading ideas with other traders in our community.
- The Funded Trader must not use the name of another person on one or more funded accounts.
- The Funded Trader must not duplicate trades and orders using copy/social trading service providers. However, the Funded Trader can copy their other personal accounts into a CTI Funded Account.
- The Funded Trader must not open accounts in other people's names.
Complying to the terms and conditions
- Each Funded Trader must manage their positions and apply the required measures according to the terms and conditions specified on this page and the Challenge Funded Trader Program, FAQs, Scaling Plans, Salary, and Withdrawal pages.
- The Funded Trader must not max out on leverage on any single trade. In case of entering a trade when maxed out on leverage or an unusual volume size to the entry, that trade will not be counted towards the trader's profit target. This is to ensure responsible risk management practices.
- CTI will supply Funded Traders with its own trading capital.
- The Funded Trader will not be liable for any trading losses that may incur during the Funded Trader Program.
- The Funded Trader must act responsibly while trading with CTI during the Funded Trader Program to avoid any severe losses on the funded account.
- If the Funded Trader does not comply with the terms and conditions, CTI has the right to terminate the Funded Trader's account and disqualify them from the Funded Trader Program.
- The Funded Trader must not give access to the Funded Account to any 3rd parties. Doing so will lead to the termination of their account and this agreement.
- The Funded Trader can always apply again if they wish to comply with the terms and conditions during their enrollment in the Funded Trader Program.
- The Funded Trader must report to CTI via email to [email protected] if their account credentials have been lost or stolen.
- If you have abnormal trades where you were maxed out on leverage and unusual big trades compared to the normal trades you usually take, you will not be eligible for withdrawals or to pass the challenge phases.
The Termination of The Funded Trader Program™
The termination of the Funded Trader Program can occur due to the trader's inability to adhere to the terms and conditions of this agreement.
The termination of the Funded Trader Program Agreement may occur for any of the following reasons:
- Reaching the Max Absolute Drawdown $ (Fixed Loss from Initial Capital) or Max Daily Drawdown (Fixed loss from the start of day balance) during all Phases of the Challenge Funded Trader Program.
- The expiry of the evaluation account is after 45 days from the registration date for Phases 1 and 2.
- 2 months or more of no trading activity on CTI Funded Phase 3 without official written notice to CTI via email.
- The misuse or abuse of the Funded Trader Program.
- The use of the Funded Trader Program for any other purpose than the authenticity of the individual trading.
- Performing prohibited trading activity, such as High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, any Tick Scalping Strategies, any Copy Trading of other person's signals, any Reverse Arbitrage Trading, any Hedge Arbitrage Trading, any use of emulators, and Martin Gale Style EAs.
- Group Trading (manually or using the same EA by one individual on more than 2 accounts or by multiple individuals on multiple accounts).
- Social Trading, Copy Trading from other traders, and any mirrored trading activity.
You agree that at all times, CTI has the right to terminate your funding as it sees fit to its risk tolerance and willingness to risk its own capital during all phases of the Funded Trader Program at its own discretion.
The Termination Notice
- CTI will send to the Funded Trader's email an Official Notice of Termination, and the Funded Trader can request a copy of the trading statement at any time.
- CTI will disable the trading permission in the Funded Account., and the Funded Trader will lose access to the Funded Account.
- The Funded Trader can sign up again for the Funded Trader Program, regardless of past terminations, as long as they comply with the terms and conditions of this Agreement upon the most recent application. Nevertheless, CTI has the right to refuse to re-sign up at its own discretion.
Communication with the Company "CTI"
- Email & Discord & Live Chat are the official communication mediums between the Funded Trader and City Traders Imperium.
- CTI will communicate in real time and to the best of its ability to provide fast and reliable service to its Funded Traders.
- The Funded Traders must provide a valid email while enrolled in the Funded Trader Program to allow real-time communications with CTI’s staff.
- CTI has the right to either freeze or terminate the Funded Account if the Funded Trader fails to respond to the company’s emails.
- CTI provides Phone Calls and Zoom as backup media for communication.
- The Funded Trader must notify CTI of any trader’s email address changes.
Misunderstanding and Errors In communications
Subject to the terms and conditions of this agreement, neither party hereto shall be prejudiced in any way by inadvertent errors or omissions made by such party, providing such errors and omissions are corrected promptly following discovery thereof.
Upon discovering an inadvertent error or omission by either party hereto, appropriate adjustments shall be made as soon as possible to restore both parties to the fullest extent possible and to the position they would have been in had no such inadvertent error or omission occurred.
CTI reserves the right for future changes to these terms and conditions upon notifications via an official email address given by the funded trader. The funded trader will be committed to the changes or officially be asked to resign from the program.
Spreads & Commissions
- The spreads we use are very competitive, and it is usually 0.1 pips for EURUSD on average.
- Different market conditions and liquidity can cause spreads to vary accordingly. At high volatility events, such as during high-impact economic releases, the spreads can widen.
- At the end of each day, between 10 PM & midnight UK Time, the banks move vast amounts of orders from the current day to the following day while there is less liquidity. This may cause spreads to be significantly increased. Therefore, it is advisable to widen stop losses during these times to avoid unwanted execution of nearby orders due to technicalities.
- The commission is fixed at $2.25 per lot per side for FX and Commodities and $0.225 per lot per side for indices on the Challenge Phases 1 and 2.
- The commission is fixed at $2.75 per lot per side for FX and Commodities and $0.275 per lot per side for indices once funded on a CTI Funded Phase 3.
Market Gaps & Slippage
- Sometimes, during very illiquid periods, the markets can gap significantly. Any orders placed at prices with no quotes will be filled at the next available price. This may result in opening the trade at a less favourable price.
- Slippage can occur at any time but is mostly relevant during periods of high volatility when market orders are executed. This can also happen when a large market order is executed, but there isn’t enough volume at the chosen price to execute the trade at the current market price. Slippage can occur when there is a delay between the trade being ordered and when it’s completed. Therefore, CTI does not guarantee to pay the profit for trades where significant slippages occur on CTI’s corporate trading account.
