Forbidden Trading Practices

Opening opposing positions on the same, correlated, or inversely correlated instruments, whether on a single account, across multiple PnL accounts, or across accounts held with other prop firms that share liquidity providers, is strictly forbidden. This includes splitting a single trade idea across accounts to artificially distribute profit and risk, and any attempt to manufacture a risk-free result from the pairing rather than from the market.

Strategies that rely on hundreds of near-simultaneous trades with millisecond holding times, exploiting tick-level price variations rather than taking positional risk, are forbidden. This includes approaches that rely on sub-second execution advantages, order-book manipulation, or patterns that would be impossible to replicate on a retail execution feed.

Latency arbitrage, exploiting a small time delay between our price feed and a faster external data source, is forbidden. So is reverse arbitrage, where a trader exploits a slower feed by front-running an expected price move. These strategies are not built on market view or timing skill, only on one data feed being faster than another.

Copy trading, whether via commercial copy-trading services, signal groups, or informal coordination, is not allowed across PnL accounts or between a PnL account and any other funded account you control. Coordinated group trading (multiple traders taking the same trade at the same time across accounts they collectively control) falls under the same prohibition.

Trading on non-public information, including leaked economic data, pre-release central bank decisions, or market-moving news not yet disseminated to the public, is a violation of both our terms and applicable securities law. We will cooperate with any lawful request from the authorities, and with our partner broker, on any such incident.

Trades that exploit clearly erroneous prices (off-market quotes, feed glitches, weekend gap anomalies, or mid-outage execution opportunities) are reversed, and the account goes to review. This applies whether or not you realised the price was wrong at the time, and whether or not our system accepted the order: a result taken from a system failure did not come from the market.

Every PnL account must be operated by the individual who registered it. Allowing a third party to trade your account, selling account access, or registering accounts under another person's identity are all forbidden. This includes third-party account-management services, challenge-passing services, and any arrangement in which the profits of "your" account belong to someone else.

We provide our traders with feeds that mirror the live market. So, any strategy that only works because it exploits execution on demo conditions and would not survive in a live market with real slippage, real spreads, and real liquidity constraints, will result in a ban. We are looking for traders who can progress beyond just prop trading.

Grid trading, laying orders at fixed intervals above and below price so that the account profits from movement in either direction without taking a view on it, is forbidden. So is martingale scaling, where position size is increased after a loss to average down a position that is already underwater. Both are forbidden whether run by hand or by an EA.