Frequently Asked Questions
If you have questions or require
information asked frequently
New with RaiseMyFunds
RaiseMyFunds is a project in which the aim is to find experienced traders in the financial markets. To ensure that traders possess all the qualities we’re looking for, we use a two-stage evaluation process. The Challenge and The Confirmation are the two stages of the challenge. The process is specifically designed to detect a trader’s talents. We know that a trader’s path is full of pitfalls. Our weekly summaries and daily streaming service with real coaches are there to guide our traders.
Created by the RaiseFX broker, RaiseMyFunds has a Category 1 FSP license issued by the FSCA, the South African regulatory authority, offering peace of mind and confidence to its traders. In addition, the company has already been recognized by the International Business Magazine as well as the World Business Outlook for the quality of its customer service and its exceptional trading conditions. Finally, do not simply rely on our writings but rather on the testimonials of confidence of our traders by joining the Discord community, the daily live trading on Kick or by simply consulting our TrustPilot (RaiseFX TrustPilot).
We accept all customers who are at least 18 years old and who do not reside in one of the countries mentioned in the list of banned countries available in our general terms and conditions. (Legal Document)
Furthermore, our services are not available to anyone with a criminal record linked to financial crime or terrorism.
RaiseMyFunds is not a broker, but a trading evaluation company. After passing a rigorous 2-step evaluation process on demo accounts, our customers have access to real accounts.
A RaiseMyFunds live account is an account subject to real market conditions from liquidity providers. RaiseMyFunds uses its own discretion to fund traders’ trades according to its risk appetite.
That’s right! RaiseMyFunds is the prop firm environment of the RaiseFX broker.
Evaluation Process
To become a RaiseMyFunds trader, we offer a wide range of two-step Challenges. With the most favorable conditions in the industry, combined with transparent and fair rules, we guarantee you an optimal experience.
Steps to take:
Step 1: The Challenge
A demo account with fictitious capital on which you trade in line with our trading objectives. You’ll get an account offering the best market conditions, the best commissions and the lowest spreads. If you meet all the conditions and respect the rules of the challenge, you move on to phase 2, the final stage of our evaluation.
Step 2: The Confirmation
The aim of this stage is to check your rigor and consistency on the financial markets one last time. The objectives are easier to achieve than in Step 1, and subject to the same rules.
Once you’ve completed all these steps, you’re a RaiseMyFunds trader.
You’ll receive a contract to sign before you can fully embark on your new adventure.
Our RaiseMyFunds challenge takes place in two stages before funding. The first step is to follow reasonable rules where profit is in balance with the maximum loss you are allowed to take. You must trade a minimum of 4 days and have as much time as you wish to validate this objective, so take your time!
The first stage of our challenge allows us to check that you are capable of following a coherent trading plan, controlling your risk and your psychology.
The objective of the challenge is to generate 10% profit, whereas a daily loss of 5%, or a maximum loss of 10%, will result in failure of the challenge.
Once you’ve reached all the objectives in Step 1, simply click on « Start Step 2 » in your client area and you will receive an e-mail from us with your MT5 login details for Step 2.
The second stage is the final evaluation stage. The aim of this stage is to test your consistency. We need to make sure that your strategy is valid in the long term, while maintaining discipline.
Step 2 follows the same restrictions and benefits as Step 1, but with a target reduced by half.
Once you’ve completed this step, you can click on « Get Funded » in your client area, and we’ll send you an e-mail so that you can complete your identity and sign the contract for your RaiseMyFunds account.
And now you’re ready for a trader’s adventure!
Once you become a trader at RaiseMyFunds, we know we can trust your trading skills and your ability to properly manage your risks, which is why we offer you the best market conditions in the industry, unbeatable spreads, a wide variety of assets and low commissions.
There’s no pressure to meet targets, so you can trade with a free mind.
The only rule is, of course, to respect the maximum loss allowed (daily and total) which, as you’ve understood, is the most important rule to ensure your quality as a trader.
You will then have the opportunity to share the profits made on your trading account with RaiseMyFunds. You will need to trade for a minimum of 14 days on your funded account, after which you have several options:
– Withdraw your profit sharing made on your funded account.
– As soon as 10% of profits have been reached, you can « Scale-Up » and reach a new stage of our Scaling Plan. In addition, as soon as you « Scale-Up » for the first time, you’ll receive a refund of the challenge fee in your virtual wallet.
Your profit share starts at 70% and increases by 10% for each scale-up or withdrawal, up to a maximum of 90%.
Step by step, you’ll be able to gradually increase your capital up to $1,000,000!
Rules
To reach the target, you need to trade for at least 4 days during your current trading period. At least one position must be opened on each of these days. If a trade is held over several days, only the day on which the trade was opened is considered a trading day.
According to our rules, this is set at 5% of the initial account balance. The rule states that at any time of the day (CET – Central European Summer Time), the result of all closed positions, added together with currently open floating P/Ls (Profits and Losses), must not reach the value of the specified daily loss limit. The calculation formula : For example, in the case of the RaiseMyFunds challenge with an initial account balance of 50,000 $, the maximum daily loss limit is 2,500$. If you happen to lose 1,000$ in your trades, your account must not fall by more than 1,500$ that day. Nor should it fall to 1,500$ in your open floating losses. The limit includes commissions and swaps. Conversely, if you earn 2,500$ in one day, you can afford to lose 5,000$ in the same day, but no more.
Current daily loss = result of this day’s closed positions + result of open positions.
At no time during the account’s trading period may the trading account equity fall below 90% of the initial account balance. For a RaiseMyFunds Challenge with a balance of $100,000, this means that the lowest possible account Equity can be $90,000. Again, this is the sum of closed and open positions (account equity, not balance). The calculation logic is the same as for the Maximum Daily Loss; the only difference is that it’s not limited to one day, but to the entire duration of the account’s trading period. The limit includes commissions and swaps. 10% of the initial account balance gives the trader enough room to prove that his account is suitable for investment. It’s a buffer that should keep the trader on track even if there have been some initial losses. The investor is assured that the trader’s account cannot fall below 90% of its value under any circumstances.
The profit target in The Challenge is set at 10% of the initial balance and 5% in The Confirmation. A Profit Target means that a trader achieves a profit on the sum of closed positions on the allocated trading account at any time during the Unlimited Trading Period. Please also note that to proceed to the next phase, all trades must be closed. For example: if you trade with an account balance of $100,000, your Profit Target is $10,000 for the RaiseMyFunds challenge, then $5,000 in The Confirmation.
Fees are refunded on the first « Scale-Up » and paid directly into your virtual wallet.
Specifications
You can take advantage of economic news, but we advise you to do so sparingly. When economic data, central bank announcements and political events are released, the market is extremely volatile and unpredictable. So be careful!
You don’t have to close your positions overnight. Note, however, that you will be subject to swap fees.
Since RaiseMyFunds uses demo accounts during the Challenge and Confirmation phases, they are not connected to real market conditions and are therefore not subject to any restrictions.
However, if you wish to use an HFT strategy during your evaluation process, you MUST send us a request by e-mail once you have purchased your challenge, specifying its ID at support@raisemyfunds.co.
For the request to be validated, please note that there must be no trade in progress on your trading account.
Finally, once the request has been validated by our team, no other trading strategy will be accepted on this account.
On the other hand, once you become a RaiseMyFunds trader, your funded account will be on a real server and therefore subject to the requirements imposed by liquidity providers.
For example, all High Frequency Trading (HFT) and arbitrage strategies are prohibited on our funded accounts.
To put it simply, ask yourself, « Is my trading ethical? »
If the answer is yes, you can have peace of mind knowing that your trading account will never be closed. If not, we’ll receive rapid alerts and will be forced to close your account.
If you violate any of the trading objectives, the account in question will be automatically invalidated and will no longer be allowed to continue trading. You can always start afresh and order a brand new RaiseMyFunds challenge if you wish to become our trader. If you fail to meet the trading objectives, the initial fee you paid for the challenge will be forfeited. We don’t offer special discounts for failed challenges because we don’t have a time limit – we give you all the time you need to succeed in our simulated challenge. Take your time!
You can claim your share of the profits from the 14th day onwards, starting from just $50 in profits. Once the payment has been made, you’ll have to wait another 14 days after the opening of your next trade to make another withdrawal.
Note that all profits are credited directly to a virtual wallet, so you have the choice of withdrawing the profits, or using them to start a new Challenge (see maximum allocation conditions).
General Questions
A funded trading account refers to any account on which a customer has the opportunity to receive compensation based on a percentage of the virtual profit generated on that account. This remuneration is subject to our terms of use and the customer’s agreement. Funded accounts are granted to customers who have successfully completed one of our evaluation programs and met the KYC/AML verification requirements necessary to be eligible for a RaiseMyFunds trader.
Once funded, RaiseMyFunds traders have an account with the same capital size they chose during their challenge. To avoid any confusion, as soon as you become a RaiseMyFunds Funded Trader, you receive a real account, confronted with real market conditions and subject to the requirements imposed by liquidity providers. Funded Traders have the opportunity to earn up to 90% of the profits generated on their RaiseMyFunds account. When choosing a RaiseMyFunds Challenge, it’s important to select the appropriate account size from the outset, as no changes will be possible afterwards. If you are successful in your Challenge, we may increase your account balance in accordance with our Scaling Plan if we see your long-term consistency. While your profit-sharing is being processed, only your earnings can be taken into account. If your account meets the eligibility criteria, you can request a « Scale-up » directly in the customer area. The maximum allocation of funds obtained through Challenges cannot exceed the amount of $200,000, beyond which you will have to use our Scaling Plan to increase your capital. The total amount of funds managed by a RaiseMyFunds trader cannot exceed $1,000,000, beyond which you will not be able to « Scale-Up » or start a new Challenge.
All stages of the RaiseMyFunds Challenges take place on a demo account.
As soon as you become a RaiseMyFunds funded trader, you’ll receive a real account, exposed to real market conditions and subject to the requirements imposed by liquidity providers.
Obviously, as a regulated company, RaiseMyfunds has its own MetaTrader 5 license, trade with the best conditions throughout your adventure!
The account specification can be viewed directly on the trading platform. To view the instrument specification in MetaTrader, open your Market Watch (Ctrl+U).
Please familiarize yourself with the terms and conditions of each instrument you trade.
The time bases of the trading platforms are based on the following:
MetaTrader 5 = GMT+3.
The leverage we offer is up to 1:100 (Forex) and cannot be increased.
Symbol specifications and trading hours can be viewed on the symbols page, while scheduled platform maintenance and other important trading updates can be viewed on the trading updates page.
You must make a minimum profit of $50 and have been trading for 14 days to request a withdrawal of your profits. After validation, you will receive this money in your virtual wallet.
Once payment has been received, a new 14-day period begins, and $50 in profits must be made again to request a new withdrawal.
Orders & Billing
You can pay by cryptocurrency or credit card.
The fees cover the costs inherent in using the trading platform.
The good news is that you can’t lose more than these expenses.
What’s more, traders receive a refund of their fees with their first « Scale-Up » of their RaiseMyFunds funded account.
No additional or hidden fees are charged by us. All fees are included in the RaiseMyFunds challenge. You will not be charged any recurring fees with us.
In addition, you will be eligible for a refund of your fees when you first « Scale-Up » your RaiseMyFunds funded account.
There are no restrictions on the number of trading accounts you can have for the first two stages. However, you can only allocate a maximum of $200,000 in RaiseMyFunds challenge capital to a single trader. Beyond that, you’ll need to use our Scaling Plan to increase your capital.
The total funds under management by a RaiseMyFunds trader cannot exceed $1,000,000, beyond which it will be impossible to « Scale-Up » or start a new Challenge.
It is forbidden to open multiple accounts using different registrations, so be sure to respect this rule. If we find similar trading strategies on different accounts, with allocated capital exceeding $1,000,000, in accordance with our terms and conditions, we have the right to suspend these accounts.
Once payment has been made, you will automatically receive 2 emails, a 1st allowing you to access your RaiseMyFunds customer area and a 2nd with the login credentials for your trading account.
Remember to check the “spam” folder in your mailbox if you cannot find these 2 emails in question 😉
Make sure your login details are secure and that no one other than you has access to them.
