Forex Practical Assessment
This is a single stage assessment.
Simply achieve a 10% profit target without breaching two simple risk management rules and you will be able to get funded with our live account.
Prove you can trade for us.
Features of our
Practical Assessment?
The practical assessment is a demo account to demonstrate your ability to trade our live trading account. The rules and limits are exactly the same as the live account. It is a one step process of achieving the profit target which is 10% of your starting balance, whilst adhering to the simple rules and risk management limits.
Single Payment
Our Practical Assessment is a single payment there are no monthly subscriptions.
Unlimited Time
You have an unlimited time to reach the profit target.
Simple Rules & Limits
Our simple risk management rules ensure maximum profit and protection for our trading capital.
Any Strategy
You may use any trading strategy, EAs or bots.
Tradeable Instruments
within our accounts
Majors
EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDJPY, USDCHF, EURCHF, EURGBP, EURJPY, GBPJPY, GBPCHF.
Minors
CADJPY, AUDJPY, EURAUD, EURCAD, NZDJPY, AUDCAD, AUDCHF, AUDNZD, CADCHF, CHFJPY, EURNZD, GBPCAD, GBPAUD GBPNZD, NZDCAD, NZDCHF.
Exotics
HKDJPY, GBPSGD, AUDSGD, CADSGD, CHFSGD, EURDKK, EURMXN, EURNOK, EURPLN, EURSEK, EURSGD, EURTRY, GBPHKD, GBPNOK, GBPSEK, MXNJPY, NOKJPY, NOKSEK, NZDSGD, SEKJPY, SGDJPY, USDCNH, USDDKK, USDHKD, USDNOK, USDMXN, USDPLN, USDRUB, USDSEK, USDSGD, USDTRY, USDZAR, EURHKD, AUDCNH, AUDHKD, CNHJPY, GBPCNH, NZDCNH, EURZAR, GBPZAR.
Please note: Liquidity and spreads can change due to market conditions. The information in this table is correct at the time of publication, we reserve the right to change its contents at any time.
FX Trading hours (except USDRUB) are the following:
Sunday: Open at 21:00 GMT – Close at 24:00 GMT
Monday to Thursday: Open at 00:00GMT – Close at 24:00 GMT
Friday: Open at 00:00 GMT – Close at 20:57 GMT
USDRUB: Mon -Fri 07:00 – 15:57 GMT
*Average prices are during London and New York sessions.
**Trading hours can change due to public holidays.
Majors
JP225, EU50, FR40, DE30, UK100, US500, UT100, US30, AU200.
Minors
HK50, ES35, CHINA50, CHSHARES, RUSS2000.
Equities Indices
Majors
F40xx, UK100xx, USDIndexxx, DE30xx, US500xx, UT100xx, US30xx.
Minors
CHIN50xx, ESP35xx, INDIA50xx, Sing30xx, VIXxx.
Where “xx” refers to the expiry month and year.
First letter is the expiry month:
F Jan, G Feb, H Mar, J Apr, K May, M Jun, N Jul, Q Aug, U Sep, V Oct, X Nov, Z Dec
Second letter is the year: e.g. Dec-2019 is “Z9”
Liquidity and spreads can change due to market conditions. The information in this table is correct at the time of publication, we reserve the right to change its contents at any time.
*Typical prices are during London and New York sessions.
COMMODITIES
Majors
XAGUSD, XAGEUR, XAUUSD, XAUEUR, UKOIL, USOIL.
Minors
XPTUSD
Exotic
XAUTRY
Liquidity and spreads can change due to market conditions. The information in this table is correct at the time of publication, we reserve the right to change its contents at any time.
Majors
XAGUSD, XAGEUR, XAUUSD, XAUEUR, UKOIL, USOIL.
Minors
XPTUSD
Exotic
XAUTRY
Please Note: Liquidity and spreads can change due to market conditions. The information in this table is correct at the time of publication, we reserve the right to change its contents at any time.
Risk Management
Rules and Limits
Our risk management rules are in place to protect our capital and to protect the profits you make.
These rules are not negotiable, so please don’t ask.
The rules and limits apply to both the Practical Assessment and the Live account.
Account Management
T4TCapital will manage your assessment automatically to ensure the risk is minimal, with industry standard metrics. If you breach any of the account management rules your trade will be closed. Please note: A breach of the account management rules does not mean a reset is required. Your trades that breach these rules will result in your trade being automatically closed, trades include open or pending trades.
Stop Loss attached to every trade.
Every time you open a position or place a pending order in the market it must have a valid stop loss attached to it!
What does this mean?
You cannot enter at market and then add a stop loss after you have placed the order. Every position you have must have a stop loss.
Why pending orders?
The entry order could be triggered and with no stop loss attached that could potentially result in the entire account being lost.
If you do have a market order or a pending order without a stop loss then the order will be automatically closed.
All trades closed by 1900GMT on Friday
You are permitted to trade at all other times except if T4TCapital Management halts all trading due to ‘unforeseen highly volatility international events’. In this case, T4TCapital management will notify you directly about the trading halt.
This will not result in a reset.
Maximum Position Size
The Risk Management Limits
If you breach any of the limits below your assessment will be closed. To continue with the assessment you can pay the reset fee for your account size and your account will be reset to the start balance and you may continue with the assessment.
Weekly Loss Limit
Here’s an example:
Start Account Balance: $100,000
2%: $2,000
Week 1
Week Starting Balance: $100,000
Weekly Loss Limit: $98,000
You cannot go below $98,000 during Week 1
Week 2
Week Starting Balance: $103,000
Weekly Loss Limit: $101,000
You cannot go below $101,000
The 2% calculation remains during the duration of the Practical Assessment. Once you start the Live Trading Account this 2% is increased to 5% after achieving 10% profit giving the trader much more latitude in the Live Account.
Maximum Drawdown
What does this mean?
Again the Maximum Drawdown is designed to protect your profits and also our maximum exposure.
Let’s take a look at an example:
Week 1
Account Start Balance:$100,000
Maximum Drawdown: $96,000
During Week 1 you make $3,000 profit taking your Account Balance to $103,000, this now your High Water Mark and your Maximum Drawdown has increased to $99,000. You cannot go below this figure with your Equity Balance.
Week 2
Account Balance: $104,000
Maximum Drawdown: $100,000
You know have a great week and make $5,000 taking your Account Balance to $109,000. Your Maximum Drawdown has already reached the account starting balance of $100,000. It remains there from now on.
"If an investor can achieve an average annual return of 20 percent, then, after 45 years, an initial investment of $1 million will appreciate to $3.6 billion. Wow!"
Frequently Asked Questions for
The Practical Assessment
What is the time limit to pass the assessment?
Is the Practical Assessment a demo account?
To enable us to assess your ability we use a demo account without risk. The Forex Practical Assessment demo account performs in the same way as the forex live account, so when you start trading with real money you will not notice any difference.
Can I make cash with the Practical Assessment?
No, it is a demo account.
Can I trade my own strategies?
Yes you can. You can trade whatever trade methodology you wish, as long as you adhere to the rules.
Can I use Expert Agents, bots and algos?
Yes you can. You are responsible for their operation and to ensure they adhere to the rules. A malfunctioning EA, bot or algo is not an excuse for breaching the rules.
What is the leverage on the accounts?
1:10
This controls the maximum exposure.
What happens if I breach the rules?
In the unlikely event of breaching the rules you can reset the account back to the start account balance. You will need to pay the appropriate fee according to your account size you are trading. For example if you are taking the USD$100,000 Forex Practical Assessment, the reset fee is USD$199.
You may also reset your account at anytime you wish if you want to start from scratch again.
Do you allow Scalping?
Yes we do.
Is the Practical Assessment fee a monthly subscription?
What happens when I reach the Profit Target?
Can I use my broker?
No you are trading our accounts. We have our own liquidity provider and you will be provided with the account details to trade.
How long will it take to pass the assessment?
Can I have more than one practical assessment?
Can I get a refund?
There is no refund if:
- You have started trading the account.
- You have breached the rules and failed the assessment.