Getting a free funded forex account in India usually involves a few specific requirements. These accounts are typically offered by proprietary trading firms or brokers, often as part of their promotion or recruitment strategy for skilled traders. Here’s what you generally need:
Trading Skill and Experience: Many firms will require proof of your trading ability. This might be through a demonstration account where you have to show consistent profitability over a period, or through past trading experience, a track record, or a trading challenge.
Trading Challenge or Evaluation: Many forex firms offering funded accounts will require you to pass a trading challenge. You’ll have to trade a demo account under certain conditions (such as making a specific profit target while maintaining risk management rules), after which they may offer you a funded account based on your performance.
Application and Registration: You’ll need to apply and register with the prop firm or broker offering the funded account. This may involve providing personal details, completing identity verification (KYC), and agreeing to terms and conditions.
Risk Management Compliance: Most funded forex accounts will come with strict risk management guidelines, such as daily loss limits, maximum drawdown limits, and position size restrictions. You must show that you can adhere to these rules.
Verification Documents: To prevent fraud and ensure compliance with regulations, you’ll need to submit verification documents, such as proof of identity (passport, driver’s license) and proof of address (utility bill, bank statement).
Trading Platform Familiarity: You may need to demonstrate familiarity with a specific trading platform (e.g., MetaTrader 4/5, cTrader), as most funded accounts are managed through these platforms.
Be Ready for Fees or Costs: Although some firms may offer “free” funded accounts, there could still be hidden fees involved, such as a registration fee for the challenge or monthly charges for accessing the funded account. Make sure you understand all costs involved.
Popular Platforms Offering Funded Accounts in India:
FTMO: Offers a popular evaluation process with a chance to trade a funded account after completing a trading challenge.
The5ers: Offers funded accounts after passing their evaluation process.
TopStepFX: Provides a challenge and evaluation process to get a funded forex account
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Phone no – +97144471894
Website – https://winprofx.com/