Account Types
Description Of Each Account Phase With Nexgen ProTrader Funding.
Test Evaluation Account
To progress to a "semi-live" Trader account, you must first successfully trade the Simulated Evaluation Account. This involves meeting specific profit objectives while adhering to loss limit rules designed to demonstrate consistent and responsible trading practices. This test requires a minimum of 5 trading days to pass.
The evaluation phase is critical in ensuring you have the skills, discipline, and risk management capabilities required for live trading. By achieving the profit targets and maintaining compliance with all draw-down and risk management guidelines, you showcase your ability to trade effectively under real-world conditions. Completing this phase is your gateway to advancing within the Nexgen ProTrader Funding program.
Sim/Live Trader Account
The Sim/Live Trader Account operates as a "semi-live" account, technically a simulation account. This account follows the same rules as the evaluation account. Nexgen ProTrader Funding processes payouts for this account type by replicating the trader's simulated trades into a live, real-money sub-account of Nexgen's primary account. A trading contract must be signed before trading this new account type. AMP brokerage firm will also require your valid ID, a current bill (such as a gas or power bill), and the trading contract signed by you. A Dropbox will be made available on your dashboard, which you can use to upload these documents. The account will not be opened, and you will not be allowed to trade until you have provided the necessary documents and compliance has had 24 hours to review them.
Passing the evaluation account is the first step, but the second step involves some pressure. That pressure can sometimes be overwhelming for new traders, who may fail their first semi-live accounts. Nexgen's ability to copy trades from a trader using what we call a "Semi-Live" account, rather than opening real accounts for all newly successful traders with minimal ID checks, saves time and money.
ProTrader Live Account
Upon successfully reaching the 16th payout, Traders are now very experienced, and the real-world pressures have been handled successfully. At this point, Nexgen may transition the trader to a live, real-money account or may choose to leave the trader in the live-sim environment. If Nexgen elects to set up a "ProTrader ( Live Account )," the trader will operate under a power of attorney agreement and will still be a 1099-contracted trader for Nexgen ProTrader Funding. From this point forward, the trader will receive 100% of the profits generated from "live trading", from copier trading, or a live account. There will be some minor differences and discrepancies between simulated fills in the platform and real fills in the live market.
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