City Traders Imperium
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- The Company, It's Funding, & Eligibility
- The Funding Program Definitions
- Trading Rules Explained
- Profit Withdrawals & Payouts
- Termination Of The Funding Program
- Communications With CTI
- Trading During Unexpected Events
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- City Traders Imperium is an educational company and a prop trading firm that runs and manages an online Funded Trader Program.
- City Traders Imperium Limited is a privately-owned company that operates under the brand name "City Traders Imperium". It is registered in England & Wales with the company number 11463147 and VAT number GB 341124840.
- City Traders Imperium operates in compliance with the FCA guidelines and its regulations.
- City Traders Imperium is not a financial institution of any kind. It's not a broker, and it does not market for any brokerage services.
- City Traders Imperium does not invest clients’ money or trade it on the financial markets. All the funding in the funded trader program is provided by the company's own capital.
- City Traders Imperium provides a practical educational evaluation with fully funded forex trading accounts to traders from any nationality with monthly payments with an opportunity for compounding profits in its funded account growth scheme.
- City Traders Imperium is continuously looking for the best traders, who are looking to develop and build a trading career, by trading the company's own capital and joining its online trading floor.
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City Traders Imperium (Company)
City Traders Imperium is the company providing the funding accounts to its student and traders.
The Student/ Trader (Funded Trader)
- The Evaluation Trader is the trader who is pursuing the evaluation on a live funded account to qualify for the Portfolio Manager (PM) once the trader meets the full requirements.
- The Portfolio Manager (PM) Trader is the trader who has achieved the initial evaluation requirements and is trading a fully forex funded account.
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City Traders Imperium supplies its traders with its trading capital to trade during the funded trader program. The trader will not be liable for any trading losses that may incur during the evaluation or the portfolio manager phase of the funded account program.
The Protection of The Trading Capital
- The trader is required to act responsibly while trading with City Traders Imperium and throughout the whole duration of the funded trader program to avoid any severe losses on the account.
- The trader must apply the required measures to enforce the risk management policies specified by City Traders Imperium.
- The trader must not give access to the funded account to any 3rd parties. Doing so will terminate the activity of the trader.
- If the trader believes the account credentials have been lost or stolen, the trader must report to City Traders Imperium by email immediately – [email protected]
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- City Traders Imperium charges only a one-time fee to cover the trading costs or losses the trader may incur during the evaluation phase of the funded account program.
- City Traders Imperium does not charge any monthly or recurring fees throughout the whole funding program.
- The sign-up fee is not a deposit into a trading account of any kind.
The Funded Trader Program Refund Policy
- City Traders Imperium does not refund any sign-up fee once the trading account has been issued to the trader.
- Once the trader started trading the evaluation funded account, the trader cannot upgrade to a larger funded account, not downgrade to a smaller funded account.
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- Anyone who is above 18 years.
- Traders from any nationality from Europe, North America, South America, Africa, Asia, & Australia.
- The funded accounts are available for individual traders only to trade the company’s capital during both the Evaluation and Portfolio Manager Phase.
- ID as proof of identity. This is to prove that the trader is the only one trading the funded account.
- The Funded Trader Program is not designed for organisations, a group of individuals, or copy traders.
Experience in the Forex Market
- The trader must have at least some knowledge with forex trading terms, such Market Open and Closing Hours, Economic Calendar and Releases, Flexible and Fixed Spreads, Commissions, Overnight Swaps, Pip, Point Value, Lot Size, Stop Loss, Take Profit, Market Order, Stop Order, Limit Order, Ask, Bid, Drawdown $, Drawdown %, and type.
- The trader must also demonstrate adequate trading skills during and after passing the evaluation.
- The trader must understand the risk management policies and the minimum requirements. Also, the trader must adjust his strategy risk exposure to match the requirements of the funding program before starting to trade with City Traders Imperium's capital.
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- City Traders Imperium provides the trading platform MT4 to its traders while trading for the company.
- The trader will have full control of the trading platform. Also, City Traders Imperium will not interfere with any trades unless the trader is not complying with the risk management policies.
- City Traders Imperium provides MT4 platform on Windows OS only. Any trader with a Mac IOS can install the MT4 using an assistant software, such as Parallel, or Play on Mac. The trader can also use FXpro MT4 for Mac platform as a medium to trade with City Traders Imperium’s funded account.
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The evaluation phase is the first stage of the funded trader program, where it is provided for the practical part of their educational journey to become a professional trader. In this stage, the trader must show a consistently profitable trading performance for the period of the evaluation specified by the company while meeting all the risk management policies.
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The Portfolio Manager Phase (PM) is the phase where the trader has met all the trading requirements and passed the evaluation phase. During this phase, the trader will be fully qualified, and City Traders Imperium will contract the trader to trade the company’s own capital.
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- City Traders Imperium requires each trader to manage their positions according to the risk management policies and trading guidelines specified on the website.
- City Traders Imperium will observe the trading activity of its traders and warn them for any violations of the risk management policies.
- If the trader doesn’t comply with the risk policies, City Traders Imperium has the right to terminate the traders’ account and exclude them from the funded trader program.
- However, the trader can always apply again for the funding program if they wish to comply with the risk policies.
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City Traders Imperium expects the trader to reinforce the risk management guidelines and policies over strategy. Below are the definitions and examples of components of the funded trader program rules:
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- At each stage of the program, the target is defined in terms of net USD amount and not in %.
- All the trading costs, spreads, commissions, overnight swaps will be deducted when calculating the profits target.
- All the trading costs, spreads, commissions, overnight swaps will be deducted when calculating the profits target.
- Any profits made by a violation of the risk policies will also be deducted from the final profit target upon passing the evaluation. In this case, the profit target will be extended by the amount of the profit made by risk policies violation.
Flat Profit Targets $
- If the trader has reached all the requirements, the trader must close all the trader once reaching the profit target.
- City Traders Imperium will not pay profits higher than the profit target $ specified for each evaluation.
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- The Relative Drawdown is the maximum difference from the highest Account Realized Balance $ to the lowest Equity $ (unrealized value).
- The losses can never exceed the value of the Maximum Relative Drawdown $ specified at the start of each Evaluation and Portfolio Manager Phase.
- For example, If the account balance was at $13,000 on the 3rd January, and on 29th February the account, the account balance was $12,500, then the Relative Drawdown $ would be $12,500 – $13,000 = -$500.
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- The trader must have a stop loss for every and each pending limit order, stop order, and/or market order and for all open trades.
- The trader must take into consideration that any market order, pending order, or stop order has a stop loss of a max of 1.5% risk of the account balance $. This means that if the trader’s account is $12,500, the trader can open a trade with a maximum risk of than $187.5 (1.5% of $12,500).
- If the trader opens multiple positions on the same currency pair at an overlapping time, the multiple positions’ combined risk can be up to 1.5% of the account balance are considered 1 trade.
- For example, on a $12,500 funded trader account, if the trader has an open 1st position on EURUSD risking 1% ($125), then the trader can open the 2nd position on EURUSD with 0.5% ($62.5) risk only.
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- The Maximum Exposure is the maximum lot size the trader can open at the same time during while trading.
- For example, if the max lot size a trader can open is 0.80 lots, then the trader can open 1st position on EURUSD 0.40 + 2nd position on NZDJPY 0.20 + 3rd position on GBPCAD 0.10 + 4th position on USDCHF 0.10. So, the total lot size open at the same time would be 0.40 +0.20 + av0.10 +0.10 = 0.80.
- The trader can always open more than the max exposure specified for each funded account program after moving the stop loss to break even and covering the risk.
- For example, if the trader moves the stop loss of the previous trade [EURUSD 0.40 lots] to break even and covers the risk, then the trader will have another 0.40 lots new allowance.
- If the trader has 2 or more positions open in the opposite direction on the same currency pair (hedging), it does not reduce the max exposure.
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- The trader is allowed to go through the evaluation for up to 1 year to accommodate various trading strategies, especially the long-term ones.
- The evaluation start date will be from the day of issuing the evaluation funded account.
- If the 1 year has passed, and the trader has not reached the target yet, City Traders Imperium will terminate the funded account, and the trader will be disqualified.
- During the Portfolio Manager Phase, the trader must have at least 4 active trades per month to keep the account active. Failing to meet this condition will cause the termination of the funded account, regardless of which stage in the Funded Trader Program the trader is at.
- There is no Max Time Limit for the Portfolio Manager Phase.
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- The minimum active trading days are not calendar days.
- A trading day is a day where a trader opens a trade at any time.
- The trader must complete a minimum of 30 active trading days to complete the evaluation.
- The PM traders are required to have at least 4 active trading days per month.
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- The trader must complete at least 45 trades to demonstrate consistency and profitability over the Evaluation period.
- A trade is a full-cycle counted from open to close.
- Multiple positions open at the same time on the same currency pair, and/or partial close of the same currency pair are considered 1 trade.
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City Traders Imperium prohibits the following:
- City Traders Imperium prohibits anyone applying for the trading program for any reason other than trading.
- City Traders Imperium prohibits trading the funded program in coordination with other active traders at City Traders Imperium.
- City Traders Imperium prohibits using the name of another trader on 1 or more accounts.
- City Traders Imperium prohibits duplicating trades and orders by using a copy trading service offered by CTI or any other provider.
- If a trader has more than one account with CTI, the trader cannot hedge among accounts. Each account will be treated individually.
- City Traders Imperium allows the trader to open as many evaluations as possible; however, it prohibits the trader having more than 1 Portfolio Manager Account.
- Any violation of risk management policies and/or the above restrictions will cause immediate termination of the forex funded account. However, the trader can always apply again after reviewing the risk management policies.
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The trader can trade any of the 28 currency pairs specified below:
- Major Currency Pairs: EURUSD, GBPUSD, NZDUSD, AUDUSD, USDCHF, USDCAD, USDJPY.
- Cross Currency Pairs: EURGBP, EURNZD, EURAUD, EURCHF, EURCAD, EURJPY, GBPNZD, GBPAUD, GBPCHF, GBPCAD, GBPJPY, NZDAUD, NZDCHF, NZDCAD, NZDJPY, AUDCHF, AUDCAD, AUDJPY, CADCHF, CADJPY, CHFJPY.
The trader is allowed to trade the currencies pairs specified above. If the trader trades other assets not determined by City Traders Imperium, it will cause a termination of the Funded Trader Program and disqualification of the program.
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The Evaluation Profit Payment
- City Traders Imperium pays the net profits to the trader, once he achieves the milestone profit target, in one lump sum payment at the end of the evaluation.
- If the trader fails the evaluation with a profit, City Traders Imperium still pays the net profit due to the trader.
The Portfolio Manager (PM) Profit Payment
- City Traders Imperium pays for net profits to the portfolio manager (PM) traders automatically at the end of each month at long as the trader has made a profit in the current month.
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- Formula: The 50% profit share = (Current month’s account balance – Previous month’s account balance) / 2
- The Account Balance will be calculated based on the last day of each calendar month.
- Any open trades are unrealised profit or loss. They are not taken into consideration unless they have been closed before the last day of the month.
- If the trader makes no profit in a given month, no profit will be paid until the trader recovers the losses from the previous month and reaches a new high watermark profit.
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- At the end of each month, CTI sends an invoice with a detailed breakdown of the profit share due to the trader by email.
- The payment due date is during the 1st week of the new calendar month.
- The trader can choose where to receive the profit share. City Traders Imperium offers the following options: Bank Transfer, PayPal, Revolut, and Transferwise.
- The best option would be Transferwise due to the cheap transfer fees those providers charge.
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The termination of the funding program can occur due to the trader inability to adhere to the risk policies for both the Evaluation and the Portfolio Manager phase.
The termination of the funded trader program may occur for any of the below reasons:
- Reaching the maximum relative drawdown $ value.
- The violation of any of the Risk Management Policy Guidelines.
- The expiration of the Evaluation of the funded account.
- The misuse or abuse of the program.
- The use of the funded program for any other purpose than the authenticity of the individual trading.
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At the event of a termination, the following measures will take effect:
- City Traders Imperium will send an official notice of termination will to the trader.
- City Traders Imperium will disable the trading permission in funded trading accounts.
- City Traders Imperium will freeze access for the trading account and platforms provided to the trader.
- City Traders Imperium will send a full detailed trading report to the trader by email.
- If the trader is in net profit, City Traders Imperium will calculate the total net profits made in the account and pay the trader the specified portion during the same calendar month.
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The trader can sign up again for the City Traders Imperium’s funded trader program regardless of the number of past terminations, as long as the trader complies with the policies upon the most recent application. Nevertheless, City Traders Imperium has the right to refuse to re-sign up at its discretion.
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- Email is the official medium of communication between the trader and City Traders Imperium.
- City Traders Imperium will communicate with the trader in real-time and to the best of its abilities to provide fast and reliable service to its traders.
- The traders must provide a valid email while the trader is enrolled in the funded trader program to allow real-time communications with City Traders Imperium.
- City Traders Imperium has the right to either freeze or terminates the account had the trader failed to respond to the company’s emails.
- City Traders Imperium provides backup media of communication represented in the following: Skype, Facebook, Instagram, LinkedIn, on-site contact forms, and phone calls.
- The trader must notify the City Traders Imperium of any changes in the trader’s email address.
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Subject to the terms of this agreement, neither party hereto, shall be prejudiced in any way by inadvertent errors or omissions made by such party, providing such errors and omissions are corrected promptly following discovery thereof.
Upon the discovery of an inadvertent error or omission by either party hereto, appropriate adjustments shall be made as soon as possibly practicable to restore both parties to the fullest extent possible and to the position they would have been in, had no such inadvertent error or omission occurred.
City Traders Imperium reserves the rights for future changes of these Terms and Conditions, upon notifications via an official email address given from the trader. The trader will be committed to the changes, or will officially be asked to resign from the program.
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By signing up to the evaluation for the funded trader program of City Traders Imperium, I hereby confirm and fully understand that my trading performance may also be affected by various conditions, as such:
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- Different market conditions and liquidity can cause spreads to vary accordingly. At high volatility events, such as during high impact economic releases, the spreads can widen.
- However, the spreads we use are very competitive, and it is usually 0.3 pips for EURUSD on average.
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- City Traders Imperium does not guarantee the execution of the limit and stop orders at the best price during abnormal, unexpected high impact events, or very volatile periods. However, the limit and stop orders will be executed at the next best available prices in the order books.
- Ordering at specifically requested price is not guaranteed for limit or stop orders during abnormal and volatile periods – the price will be filled at the next best price according to the exchange order book.
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Sometimes, during very illiquid periods, the markets can gap significantly. Any orders placed at prices with no quotes will be filled at the next available price. This may result in opening the trade at a less favourable price.
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At the end of each day, between 10 PM & midnight London’s time, the banks move vast amounts of orders from the current day to the following day. This may cause spreads to be significantly increased. Therefore, it is advisable to widen stop losses during these times to avoid unwanted execution of nearby orders due to technicalities.
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- City Traders Imperium charges a fixed commission at trade entry which is $9 per lot traded.