Funded account agreement
Funded account agreement
Qualified evaluation account
1. Personal Data
This TRADER AGREEMENT is made by and between Nextproptrader LLC, Business Center 1, M Floor The Meydan Dubai, UAE (the "company") and the individual (the "trader") below.
First Name: Marko
Last Name: Stevic
Address: 7 Grenzgasse, Wien, AT-WIE 1150 AT
Zip code: 1150
Marko Stevic (the "trader") has read and understands, acknowledges, and agrees to the terms and provisions contained in this Agreement. The Trader is responsible for all commissions, payout fees, and trading platform expenses. The trader is responsible for the accuracy of the data and must immediately inform Nextproptrader of any changes such as residence or contact information. The trading account may not be shared under any circumstances and may only be used by the trader.
a. Performance Review
Nextproptrader monitors all trading activities and reviews the performance of the trader. Nextproptrader has the right to discontinue further cooperation at any time. The trader will be informed electronically.
b. Trading Platforms
Before the cooperation starts, the trader is aware of the permitted trading platforms. Trading on Nextproptrader can only be done via approved platforms. The trader is responsible for all platform and software costs. The market data is provided by Nextproptrader.
c. Account Balance
The trader is aware that the capital managed by the trader is the property of Nextproptrader. The trader acknowledges that he only conducts business on a separate account, which, however, is only processed in real terms by Nextproptrader.
The trader has no claim to the capital nor is he trading a real capitalized real money account at any time. The trader is provided with a separate simulation account with which he can trade the futures markets live in a simulated environment.
It is up to Nextproptrader whether the transactions carried out by the trader on the simulation account are processed by Nextproptrader on the trading account and in the name of Nextproptrader or not. The trader has the right to pay out the profits on the simulation account in compliance with the payout rules, provided no rules listed in the further course of the contract were broken.
Nextproptrader has the right to withhold any simulation credit from the trading account in full if one of these rules is broken. In this case, the trader has no right to a payout.
a. The "Trailing Drawdown".
I. The so-called "Trailing Drawdown" represents the minimum account balance of the trading account and is first established when the account is created. The setting is based on the initial account balance minus the maximum loss limit of the respective account. The "trailing drawdown" is pulled up on the open profit. The "Trailing Drawdown" is the minimum account balance that the account must not fall below. The minimum account balance ("Trailing Drawdown") is always adjusted to the last highest account balance, but never adjusts downwards at any time.
II. The "Trailing Drawdown" is only adjusted upwards until the "Trailing Drawdown", i.e., the minimum account balance, corresponds to the account balance, which was set at the start.
III. The "Trailing Drawdown" i.e., the minimum account balance initially equals the following "Trailing Drawdown" when setting up the account:
$10,000 = $9,500
$25,000 = $23,750
$50,000 = $47,500
$100,000 = $96,500
$150,000 = $145,000
$250,000 = $244,000
b. The maximum contracts traded simultaneously.
I. The trader can only have a maximum number of contracts open in the markets at the same time. The limitations vary for each account:
$10,000 = Max. 1 lot
$25,000 = Max. 3 lots
$50,000 = Max. 5 lots
$100,000 = Max. 10 lots
$150,000 = Max. 15 lots
$250,000 = Max. 25 lots
c. The "Threshold"
I. The "Threshold" defines the minimum profit which must remain in the trading account and forms a profit buffer. This is never payable and only the profits above it can be paid out. The "Thresholds" are different for the different account models and are defined as follows:
$10,000 = $1,000 Threshold
$25,000 = $1,500 Threshold
$50,000 = $2,500 Threshold
$100,000 = $3,500 Threshold
$150,000 = $5,000 Threshold
$250,000 = $6,000 Threshold
d. "Effective Date" means the date the Trader executes this Agreement.
4. Compensation obligations
b. Trader will indemnify Nextproptrader and its members, managers, officers, directors, shareholders, employees, agents, and affiliates (collectively, the “Indemnified Parties”) against and hold the Indemnified Parties harmless from and against all claims, demands, proceedings, suits and actions and all losses, liabilities, costs and expenses, including, without limitation, attorneys’ fees and disbursements, direct, indirect, or otherwise, and whether paid in settlement or otherwise, incurred or suffered by Nextproptrader in connection with or arising from any act or omission of the Trader under this Agreement or breach of this Agreement or any action or omission of the Trader in connection with the Trader’s trading and other activity that is in any way, directly or indirectly related to this Agreement or Nextproptrader.
c. Nextproptrader is not liable for any action or omission by the Trader. The Trader's obligations to indemnify under this Agreement will survive the termination of this Agreement.
d. You must be at least 18 years old to trade with us and to be able to enter into a business relationship.
5. Account rules
a. Nextproptrader deposits the initial minimum balance on each account in simulated USD currency; the accounts do not contain any real or legal tender.
b. Nextproptrader has the right and will deactivate all trading accounts that fall to or below the amount of the "Trailing Drawdown."
c. The Trader may not exceed the maximum number of contracts traded simultaneously as established for their account.
d. Fills in the Leader (Trader’s SIM) account are subject to verification in the Exchange time and sales. Fill prices may be modified to the exchange recorded fill price if there is a discrepancy. Trades made during economic releases or other fast market conditions may report inaccurate fill prices in the leader account and must be verified prior to PNL calculation for payouts. Any attempt to exploit differences in fill prices between the Leader program and the Exchange time and sales will result in forfeiture of all trading PnL and may be grounds for immediate termination of the contract.
e. Nextproptrader has the right to eliminate any profits that were realized due to technical errors such as Rithmic problems. Similarly, with trades and profits that were realized during hyper-volatile market phases and could not be properly booked or processed, as the simulated Rithmic services could not keep up with the speed and therefore erroneously posted incorrect results to the trading account.
f. The Trader will verify all Account(s) in RTrader before trading and notify Nextproptrader immediately if any Account is incorrect, contains an incorrect initial balance, or has any other incorrect, incomplete, or inaccurate information, data, or parameters.
g. Nextproptrader has the right to modify and expand any rules. The consent of the trader is electronically requested. If there is no consent, Nextproptrader has the right to terminate any business relationship at any time.
h. The Trader will not trade or attempt to trade, directly or indirectly, on any account maintained at or by Nextproptrader other than his own Account, including without limitation any attempts to trade or trades under any account maintained at or by Nextproptrader held by or under the name of a family member, friend, business entity owned or controlled in whole or in part by the Trader, or held by or under the name of any other affiliate, agent, or alias of the Trader, or by any other means.
i. Nextproptrader will not establish the Account for the Trader until Nextproptrader has received all forms and identification, including without limitation a valid, current, driver’s license or other valid and current form of identification issued by a governmental entity that is acceptable to Nextproptrader in Nextproptrader’s sole discretion.
j. The trader may only trade at permitted times. All traders must close their active positions no later than 3:15 PM CST. A trading day runs from the opening at 5:00 PM CST to the closing at 3:15 PM CST. Holding positions overnight is forbidden.
k. Only permitted trading instruments may be traded. These include all instruments listed on the page: https://nextproptrader.com/faq/what-products-can-i-trade/.
l. Nextproptrader has the right to deactivate the trader’s trading accounts at any time should one of the rule breaks occur.
m. Nextproptrader has the right to disable the account and retain profits if illegal trading strategies are used. This includes, for example, opening opposite positions on two or more trading accounts.
6. Accounting and Payment
a. Nextproptrader pays the trader the requested commission, provided that the amount available on the trading account exceeds the payout threshold.
b. All withdrawal requests must be made via the online dashboard.
c. Payments are made to the bank account or crypto wallet specified. If incorrect payment information has been provided, Nextproptrader accepts no liability for transfers to an incorrect bank account or crypto wallet.
d. Nextproptrader reserves the right to individually determine the number of monthly payouts.
e. Provided no rules have been broken, the payout amount will be fully paid out minus the profit share of 5% to Nextproptrader and minus the transfer fees, which depend on the payee. Accordingly, the trader receives 95% minus transfer fee, of his earned commissions.
f. Only amounts that are above the payout threshold, the "threshold", can be paid out.
g. Nextproptrader may, at its sole and absolute discretion, pay funds to the Trader from any Account in any amount and at any time.
h. Nextproptrader and the Trader do not intend to create an employer – employee relationship under this Agreement. The Trader is an independent contractor and has to take care of his tax matters completely by himself.
i. Payment requests will only be processed from Monday to Wednesday.
j. The trader acknowledges that he must have a valid bank account to which he can deposit USD. If it is a European bank account, Nextproptrader directly transfers Euros and calculates these based on the current day's Euro/US Dollar exchange rate. The trader also confirms the accuracy of his payee information and his data. Payments are only made to the trader's own account. Transfers to third parties are not permitted and will result in termination of this agreement and cooperation.
k. The trader bears all transfer fees in full. These depend on the individual fees of the corresponding banks.
l. Since the trader bears the transfer fees himself, there is no minimum payout amount.
m. The trader only has a right to payment provided no rule has been broken.
My payment details:
7 Grenzgasse, Wien, AT-WIE 1150 AT
7. Trader Fees
a. Traders of Non-Professional status will pay Nextproptrader a monthly fee equal to $95 on the Effective Date. The fee only needs to be paid once per user and is transferred to all of their funded trading accounts.
b. Traders of Professional status will pay Nextproptrader a monthly fee equal to $112/exchange on the Effective Date.
c. To be able to operate, trade and receive payouts, your trading account must have an active data subscription. If payment fails, you must let us know via ticket or email firstname.lastname@example.org the same day payment failed or before the data subscription renews. If your payment fails, you must make a new payment immediately. If payment is not made within 24 hrs after payment failure your trading account will not be reconnected.
d. The monthly fee consists of one-time payments, which you must make independently via your dashboard. If no payment is made, your trading account will be blocked. The active term can be viewed in the dashboard and can also be extended in advance.
e. In addition to the fixed monthly account fees, which cover all technical costs, there are trading fees which are charged for each contract traded. For each mini contract traded per side, $2.50 is charged and for each micro contract traded per side, $0.50 is charged. The fees are deducted from the account balance after each trade.
8. Updates to policies and agreement
Nextproptrader may, in its sole and absolute discretion, update or revise the policies, terms and conditions, this Agreement, or any other document governing the relationship between Nextproptrader and the Trader, at any time without notice at Nextproptrader.com. The Trader may request copies of updates or revisions to this Agreement from Nextproptrader at any time. Manipulation of any content in this Proprietary Letter will result in the closure of all accounts and void agreements with Nextproptrader LLC.
Please sign using a stylus, your mouse, or your finger below to authorize this contract. By electronically signing and saving this document, you agree to the terms established above. After the document is signed, you can proceed to print it and leave the page.
Signed on Fri Feb 02 2024 05:44:21 GMT+0100 (Mitteleuropäische Normalzeit)
IP Address: 2a02:8388:19c2:100:1925:527:8296:f8dc
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