Looking to sign up for the Swift Funding Challenge programs? Then this guide is for you.

Here, you’ll find out the various features and conditions of Swift Funding Challenge programs. That’s not all. Later in the article, we have shared 9 pro tips to

Swift Funding Programs and Challenges: Rules and Requirements 

Swift Funding provides three unique funding options tailored to accommodate various trading preferences and expertise levels.

Swift Funding Sprint: 

Phase 1 Funded 
Targeted Gains 10% 
Max Time Unlimited Unlimited 
Daily Loss Limit 4%4%
Max Drawdown 6%6%
Realised Gains-Split 80%
Leverage 100:1100:1
Minimum Trading Days 11
Stoploss Required Not required Not required 
EAs Allowed No No 
$49Refund 

Swift Funding Pro: 

Phase 1 Phase 2 Funded 
Targeted Gains 8% 5%
Max Time Unlimited Unlimited Unlimited 
Daily Loss Limit 5%5%5%
Max Drawdown 8%8%8%
Realised Gains-Split 80%
Leverage 100:1100:1100:1
Minimum Trading Days 111
Stoploss Required Not required Not required Not required 
EAs Allowed No No No 
$49Free Refund 

Swift Funding Elite: 

Phase 1 Phase 2 Funded 
Targeted Gains 8% 5%
Max Time Unlimited Unlimited Unlimited 
Daily Loss Limit 5%5%5%
Max Drawdown 10%10%10%
Realised Gains-Split 80%
Leverage 50:150:150:1
Minimum Trading Days 111
Stoploss Required Not required Not required Not required 
EAs Allowed No No No 
$69Free Refund 

What are Forex Prop Challenges?

Thus, Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific period.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

  • Profit targets: A predetermined proportion of the account balance that traders must meet.
  • Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.
  • Minimum trading days: The number of active trading days required throughout the challenge period.
  • Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

Tips for Successfully Beating Swift Funding Challenges?

  • Understand Prop Firm Rules and Objectives:
  • Know profit targets, maximum drawdown limits, and any trading constraints (e.g., minimum trading days).
  • Develop a Trading Plan:
  • Aim for profit targets while incorporating strict risk management to avoid drawdown limits.
  • Focus on familiar currency pairs for better market movement predictions.
  • Trade around major market events to capitalize on currency volatility.
  • Strict Risk Management:
  • Use consistent techniques like setting stop-loss orders on every trade.
  • Manage position sizes carefully and risk only a small percentage of the account on a single trade.
  • Psychological Preparedness:
  • Maintain discipline and emotional control, especially during market volatility or after losses.
  • Avoid overtrading or chasing losses.
  • Continuous Learning:
  • Use the challenge as a learning opportunity, reflecting on trading decisions and risk management.
  • Engage with trader communities for insights and support.
  • Adjust strategies based on experience and analysis.

By focusing on these key areas, traders can enhance their chances of successfully completing Swift Funding challenges and advancing their trading careers.

Swift Funding Challenge: Conclusion

What are your thoughts on the Swift Funding challenge programs? Do you think they should improve something? Or are they too easy?

Share your thoughts in the comment section below.

Alternatively, you can check out the best forex funded accounts of this year and see whether Swift Funding qualifies.

Leave a Reply

Your email address will not be published. Required fields are marked *

© Copyright 2023 | Powered by Passionate Traders