When a trader reaches the “experienced trader” stage, they are trading a simulated/demo stage in which they are rewarded commissions for, in exchange for positive performance during this level of the program aligned with the program rules.

While performance commission is paid to a paper trader during the “experienced trader” stage, the trade data of experienced traders can be monetized and utilized for further benefit by copy trading the data into the firms very own fund. This allows the trader to provide an offering as a “data analyst” to the firm, allowing them to be eligible for commission payouts of 50%, 70%, or 80% while providing such services to us, the numbers will change based on the value of each traders trading data, determined by performance and regular commission payouts. 

This trade data is sent off to our offshore entitybeing established (Nova Prop Ltd.), in which live trading can be legally conducted using advanced risk management techniques.

Our U.S entity Nova Trading Solutions LLC does not conduct live trading and is simply meant to be an “evaluator”, and opens the door to commission eligible paper trading accounts to traders providing simulated service as data analysts.

Market conditions are provided by a 3rd party price providerFXCH, in which traders can utilize to grow, learn, and earn commission based on their performance after passing the evaluation stage and leveling up to be an “experienced trader”. 

Occasionally, we may refer to the “experienced trader” stage as “funded”. Please note that any reference to a “funded” stage is a funded paper trading account with simulated live conditions.

Forex prop firms are usually created under the basis of gamifying trading through a software which rewards traders under simulated market conditions, albeit a similar concept as the real market with amplified potential reward.

Nova Funding acts as the “evaluator” through a demo evaluation. Any simulated trading activity forgoing into the funded stage executed by a trader is provided through FXCHL, a 3rd party technology provider based in Eden Island, Seychelles while providing a trading experience in accordance with all Seychelles local laws and jurisdiction.

1.) You start an evaluation

2.) Complete the evaluation by reaching the 10% profit target. Manage 4% daily and 8% total drawdown. Pass in 1 day, or pass in 3 weeks. No time limit. No time minimum. Once 10% profit targets are met, you can begin the upgrade process instantly by following the steps below.

3.) Submit KYC documents and Signed Terms Of Use Agreement for the Experienced Trader Stage to your dashboard.

4.) Add Performance Commission Payout Details To Dashboard (Bank Wire Details or Crypto Address)

5.) Commission-Eligible Paper Trading Account Credentials Sent Within 72h of KYC 

6.) Trader begins trading the Experienced Trader Stage.

8.) Commission payouts begin. First payout becomes eligible 21 days from first trading day on your experienced trader account paper trading account.

Important: After passing your evaluation and submitting your KYC, be sure to add your payout details to the dashboard. You have the choice between BTC or Bank wire.

Once everything is submitted, your experienced trader account credentials will be sent within 72 business hours.

The KYC process includes a photo copy of your ID or passport, proof of residency, and a selfie. Traders must also submit a signed copy of the experienced trader agreement. Once verified, you will move on to the experienced trader stage, which is the stage in which you are eligible for commission based payouts.

When a trader completes the evaluation stage and completes the KYC process, their commission-eligible account is sent and enabled in 3 full business days. 

Each trader is granted unlimited time to pass the evaluation. Once the 10% profit target is met, you can start the upgrade process into your “experienced trader” commission eligible paper trading account in as soon as 1 trading day. The evaluation phase lasts as long as your trading strategy permits.

The profit target during the 1-Step evaluation is a 10% gain from the starting balance of the account. For example, if the starting balance is $100,000, your profit target is $10,000. There is no profit target during the experienced trader stage.

All payouts are processed through Cryptocurrency.

When traders are eligible for commission payouts, they will have the option to receive performance commission payouts on either the BTC (Bitcoin Network) or USD-T (ERC-20 Network). 

Payouts are reviewed and sent to the trader within 1-3 full business days of the request, please be mindful that weekends and U.S. holidays would not be a part of the processing time.

Once the necessary calendar days have passed for your payout schedule, you will see a button appear on your dashboard titled “Close Period”. Once this button is selected, your experienced trader account will go into review and you will receive a confirmation from us via email to confirm the commission payout.

If you run into any issues finding the payout button, you may also request a commission payout via live chat once you are eligible.

Whether your a fan of Support/Resistance, Candlestick Patterns, EA’s, Supply/Demand or Smart Money Concepts, you are free to use it on our simulated accounts.

The most successful traders in the world all have different strategies/backgrounds, and we understand that.

Although we enforce no restrictions during the evaluation stage, using the following strategies/approaches during the experienced trader stage is prohibited and will be subject to review:

• Grid Trading or Grid Trading Softwares
• Martingale Trading Or Martingale EA’s
• Latency Arbitrage
• Hedging Orders Across Multiple Accounts
• Abusing The Volatility Of News By Placing Gauranteed Limit Order Fills
• Any Use Of Delayed Data Feeds For Risk-Free Profit 
• Copy Trading Among Multiple Users On Our Platform 
• Account Management By A 3rd Party

We want to be as open as possible when it comes to the trading styles that you can use while undertaking the program. The strategies above are prohibited during the funded stage as they either cannot be replicated into the live market (Toxic data in the event that we send your orders offshore for potential data monetization), thrives on demo conditions only, or because they are designed to game the system.

You can purchase an evaluation through our credit/debit card processor. You also have the option to purchase through crypto such as BTC, USDT, ETH, or USDC. You can find the credit card option as well as the coinbase option at checkout.

When purchasing an evaluation using crypto, please allow up to 30 minutes for your payment to receive multiple confirmations within the blockchain. Once confirmed, our system will send your challenge credentials by email.

Please be check your spam/junk folder if the email does not show up in your regular inbox.

If in any case you don’t receive your credentials within 60 minutes, reach out to our live chat or support email and we will get you set up properly.

Email: support@nova-funding.com

Firstly, Congratulations! Make sure all positions are closed and confirm you have a minimum 10% gain on the challenge account while respecting all challenge parameters. At this point, your challenge will be labeled as “Complete”

Our system will generate the experienced trader stage immediately once the challenge is complete. The experienced trader stage will be labeled as “Pending”.

This is the time to submit all KYC information and the funded trader agreement to your dashboard.

Once these documents have been provided, your experienced trader account will be enabled to trade exactly 3 full business days later. This will be the paper trading account which becomes eligible for commission payouts.

In order to find your trader agreement, navigate to the dashboard and select the “Phase 2 (Experienced Trader)” account which is titled as “Agreement Pending”. Once you click on this, you will be navigated to the next page with a button titled “Download PDF”. You may download and sign this document before submitting it to your dashboard.

On all evaluation accounts, our 3rd party simulated price provider offers price quotes under demo market conditions.

On all “experienced trader” accounts which are commission-eligible, our broker provides a “live simulated” server environment to simulate trading a live market with similar buying power. ($25,000-$200,000)

Noted Below Are The Simulated Execution Times for live simulated accounts provided for the “experienced trader” stage. Please note that your simulated paper trading account conditions will depend on whether you choose to by-pass the evaluation stage via HFT, or not.

Attached are the simulated condition tiers provided by the 3rd party broker.

Experienced Trader Stage Simulated Order Execution Time (Non HFT Passing): 150-225ms Simulated

Execution Time

(Commission-Eligible Paper Trading Accounts up to 200k)

Experienced Trader Stage Simulated Order Execution Time (With HFT Passing): 300-375ms Simulated Execution Time

(Commission-Eligible Paper Trading Accounts Up To 200k)

It is important to note that order execution time can also depend on a variety of factors such as trading hardware, wifi connection, and the platform being used.

If a true market strategy is applied during the evaluation stage, this will provide us with the necessary data up-front to cover any risks of providing the “experienced trader” account in which a trader is eligible for commission payouts on.

For example, trading with traditional trading strategies such as support and resistance, smart money concepts, or indicators are traditional trading strategies which often entail true trading and come with risk/reward under true market probabilities. This means that every trader will not make it to the experienced trader stage, thus only providing us with the highest quality trade data.

Passing your challenge under true market conditions (Non-HFT) presents difficulty, and displays skill from the trader. Normal difficulty on the challenge stage, means no extra rules are needed during the experienced trader stage as the trader has already proved to be upgraded into an “experienced trader” in which they can be paid commission under simulated conditions.

Use of High frequency EA’s however, operate with the benefit of demo conditions. This means that no risk is involved, and allows a trader to by-pass the challenge by taking advantage of demo conditions. Being that the evaluation stage presents demo conditions, this presents lack of slippage, lack of order execution delays, which in turn can be taken advantage of via HFT bots. Unlike most firms, we do not restrict HFT during the evaluation, but provide additional terms for members to follow when using HFT.

When a trader utilizes HFT to by-pass the evaluation, this will introduce a lot size consistency rule for traders to follow, as well as a minimum trading day rule.

If a trader chooses to pass with HFT, they will have specific factors to meet and remain aware of in order to become eligible for commission payouts.

1.) Lot Size Consistency Rule

2.) Minimum Trading Day Rule

3.) 6% Profit Cap Per Payout

Its important to remember two factors:

A Gauranteed Evaluation Pass VIA HFT Requires A Disciplined Live Simulated Environment With Consistency Rule Requirements For Commission Payouts. The benefit to this is a “no-risk” access to our funded stage, a feat difficult to find in the prop industry. With this option, you begin earning towards commission payouts almost immediately. 

A Skillfully Proven Evaluation Pass Aids In A Laid Back Live Simulated Environment With Minimal Requirements For Commission Payouts. If you choose this option, you are putting up-front trust in your skillset and take on the risk of failing the challenge, or passing it. 

Our model is built to give you a choice. Choose your path accordingly.

Both the daily drawdown and total drawdown metrics are based off of account equity. This means that the 4% daily drawdown is not a static metric, but one that trails forward with the highest floating profit of the day.

For example, on a 100k simulated account, your equity based daily drawdown amount is 4% ($4,000).

If you have an open trade running with $1000 profit, but this same trade ends up being -$3000 in the negative, this would equal a 4% change in equity thus meeting the drawdown limit of the day which would cause a risk- limit breach.

Our drawdown parameters work differently than other firms, with the simple reason being that traders can pass with HFT. This means drawdown parameters will need to be slightly more difficult in order to mange risk from our side.

Equity based drawdown applies to all 1-step programs as these permit the use of HFT.  On the contrary, we will introduce a new program variant soon which entails a balance based drawdown metric. The new program variant would not allow the use of HFT, which would be the distinguishing factor for being able to have balanced based drawdown features.  You can find further explanations on our drawdown by viewing the detailed FAQ through the button below.

When funded, you are provided a simulated-live account, in which your trade data is monitored by our system while you provide service as a data-analyst.

As traders apply a strategy to their accounts in a simulated environment, we filter the data with the goal to apply the best trades of the high performing traders into our own private capital as a part of internal operations, creating a collective trading edge from a broad range of strategies. This is a work forever in progress.

One goal of our research is to monetize the data of profitable/high performing traders and filter out the data of losing traders, thus the reason for our evaluation, risk rules, and program parameters which separate the two. Traders are paid commission as contractors, while we aim to monetize your trade data through internal operations and proprietary risk strategies.

Disclaimer: There is no guarantee that any specific trader will have their strategy used on our private capital. Monetization of trade data is the goal but is only applied to traders at our discretion.

If the challenge stage is passed without the use of HFT/Latency arbitrage bots, there will be absolutely no-limit on the amount of virtual profit you can earn.

If a trader utilizes HFT during the evaluation stage at any point in order to assist with passing, the funded account profit split will reach its limit once a trader has gained 6% from the starting balance of the account. Any positive trading after the 6% gain from the initial balance will not be eligible towards your profit split. Gaining beyond 6% will not break any rules, however these virtual profits would not be included if you have passed with HFT.

For example, if you trade continuously for up to $12,000 profit on a 200k account. The profit split will be based on any virtual profits generated up to this point. You would receive 50%, 70%, or 80% of the numeric value ($12,000 in this case) of the 6% profit on your funded account starting balance.

The 6% maximum gain per payout applies based on the starting balance of the account, and resets after each payout.

This has been introduced to maintain longevity while accessing the community feedback of keeping HFT around for the long term. This allows HFT passers to regularly receive payouts without issues and prevents traders from being prone to attempting high risk activities such as full margining before news or shooting for the moon with gambling-like approaches. Giving traders the sole focus of consistent payouts leads to higher quality trade data for us to access. Longevity is our focus.

Maximum allocation of virtual funding has been increased to 400k, allowing large payouts to remain a consistent opportunity for the trader. As maximum allocation of virtual funding is $400,000, the maximum gains able to be formed into a profit split at one time would be $24,000, which is still rather favorable. This would be done through a simultaneous gain of 6% on two separate 200k accounts.

(The 6% maximum applied to each payout will only apply to traders who’s evaluations are purchased any time after November 1st at 12:00PM CST.)