Frequently Asked Questions
KYC stands for Know Your Client. KYC is a mandatory process for verifying your identity and compliancy. It’s a regulation that we must abide by for issuing rewards. This is done through ADP WorkMarket see Certified Account FAQs.
All simulated Evaluation accounts Virtual Leverage is 1:30.
You must participate and virtual trade consistently through the simulated evaluation for the minimum duration of days.
Upon consistency in the simulated certified phase and reaching your 3rd reward you can receive a bonus.
Even if your account reaches virtual profit target, and at any point you violate a virtual trading rule, your account will not be eligible for the next phase.
We are allowing only 1 Certified Simulated Account per participant. If multiple certified simulated accounts are on same IP address, those certified simulated accounts will be breached and rejected from the simulated platform with no refund!
A simulated trading day is only counted when you open a simulated trade on that day.
Any virtual violation detected on your simulated account will result in that specific account being suspended and will not qualify for any future rewards. However, you will have the opportunity to purchase a new simulated account at a discounted price.
Please contact email@example.com for more information.
Yes, if you have achieved a virtual profit target of 10%, consistent for 4 months (virtual profitable) and strictly following all risk management rules, you can be eligible for a virtual increase of your Certified Simulated Account. Please email customer support!
Yes, you can use Trade Copiers, Risk Management Tools and any 3rd party EA as long as they are NOT used in the following ways:
All EAs require a Virtual Stop Loss and all virtual positions must be closed before market closure on Friday's.
ALL rules and regulations are in reference to virtual trades on simulated Demo accounts.
- No Martingale EA's Allowed
- Copy trading of other persons’ signals and/or Account Management
- Tick scalping
- Latency arbitrage trading
- Reverse arbitrage trading
- Hedge arbitrage trading
- And/or any use of emulators
- Using same strategy and/or set files of other party
- Accounts using these types of EAs will be flagged and reviewed by FirstClass Forex Funds management.
No, we do not allow Simulated gap trading prior to news (opening a simulated trade prior to significant global news and macroeconomic reports), exploiting errors or latency in the virtual pricing and/or platform provided by the technology provider.
No, all simulated positions must be closed by Friday, 5:00 PM EST.
Your simulated account must be virtually traded a minimum of 5 simulated trading days consistently in a 30-day simulated trading period.
If inactive, the simulated account will expire due to the violation of inactivity.
We accept payments by credit/debit card and cryptocurrency.
When making a payment via Cryptocurrency, please make sure to check for the correct network for every currency before making the transaction. The list of correct networks to use are as follows:
- BTC – Bitcoin network
- ETH and USDC – ERC20 network
Simulated Trading platform we offer is MT5 DEMO.
Most credit card companies initially block our online purchases. You will have to call your credit card company and request them to allow purchases to FirstClass Trading Solutions Ltd.
Clients found success by asking their bank/credit card company to authorize transactions to FirstClass Trading Solutions Ltd.
Try using a different browser or your mobile device.
You will be given the download link for the MT5 via email together with your credentials.
When participants pass the simulated evaluations and receive their certificate, the participant will be issued new credentials to a certified demo account (Simulation) with virtual funds. To avoid any confusion this certified demo account is a fully simulated account that copies real market data and clearing from liquidity providers. All simulated executed trades take place in a simulated demo environment!
We never issue real funds (All capital is Virtual); members are paying a fee for an educational simulated trading evaluation with an opportunity to be rewarded as a client. We are not a broker.
Currently we offer 25k, 50k, 100k, 200k simulated accounts.
Only 1 Simulated Evaluation per participant.
We currently do not accept clients from the following Russia, Cuba, Sudan, Somalia, Iran, Syria, North Korea, Libya, Afghanistan, Burundi, Central African Republic, Republic of Congo, Crimea, Democratic Republic of Congo, Eritrea, Guinea, Guinea Bissau, Iraq, Liberia, Myanmar, Papua New Guinea, South Sudan, Vanuatu, Venezuela, Yemen, Zimbabwe.
You can request a refund in case you do not start simulated trading within 7 days of your registration. Please review the Refund Policy here.
Switching platforms can only be done before starting your simulated evaluation.
No virtual hedging is not allowed.
What happens if I reach the virtual profit target and then accidentally violate the virtual drawdown rule?
If your simulated account reaches virtual profit target and at any point your account violates a virtual trading objective, it will not be eligible to proceed to the next phase. As a participant, it is your responsibility to ensure all virtual positions on the simulated account must be closed with no virtual violations to move to the next phase.
For 2-Step Simulated Evaluations you have 30 days to complete Phase 1 and 60 days to complete phase 2.
No, you don’t need to wait for the entire duration of the simulated evaluation phase.
Minimum Simulated Trading Days
- 2-Step Simulated Evaluation minimum of 5 full simulated trading days for each phase
Please note, your dashboard will alert you when you are approaching your maximum virtual free margin and this may limit placing more simulated trades.
Your daily virtual drawdown is fixed maximum of virtual 3% of starting balance. For example, if your account size is virtual 100k, then your daily virtual drawdown will be set at virtual 3k (3%). If after a simulated trading day, your DEMO account balance is at virtual 98k, your daily virtual drawdown will be the same at virtual $3k (3% of starting balance). At First Class Forex Funds we like to keep things simple. We recommend you check your dashboard prior to every simulated trading day.
Overall virtual drawdown is set at maximum of virtual 12% from the initial virtual account balance. At any moment during the Simulated Evaluation Phase/Certified Simulated Account, the result of all closed simulated positions in sum with the currently open floating virtual P/Ls (profits/losses) must NOT hit the determined overall virtual loss limit. Violation of this rule will result in simulated account suspension.
The simulated evaluation starts the day you make your first simulated trade.
2-Step Evaluation FAQs
In the 2-Step Simulated Evaluation, you will undergo 2 testing phases – Phase 1 and 2.
To complete the phases, you will need to reach the virtual profit target and complete the minimum requirement of 5 simulated full trading days within the duration of the program.
The virtual profit target is 10% for Phase 1 and 7% for Phase 2.
You will have 30 Calendar days to complete Phase 1 and 60 Calendar days to complete Phase 2.
No, you don’t need to wait for the entire duration of the simulated evaluation phase. Once you reach the virtual profit target and have completed a minimum of 5 simulated full trading days for the 2-Step Simulated Evaluation, you are eligible to proceed to the next phase!
2 Step Simulated Evaluation: Requirement to pass each phase is a minimum of 5 simulated full trading days.
Note: It does not need to be consecutive.
2-Step Step Simulated Evaluation has a virtual profit target of 10% on phase 1 and 7% virtual profit target on phase 2. Simulated Certified accounts have no virtual profit target.
Daily virtual drawdown is set at maximum of virtual 3% from the initial account balance. Your daily virtual drawdown is fixed maximum of virtual 3% of starting balance.
For example, if your account size is 100k, then your virtual daily drawdown will be set at virtual 3k (3%).
If after simulated trading a day, your account virtual balance is at 98k, your daily virtual drawdown will be the same at virtual $3k (3% of virtual starting balance).
At First Class Forex Funds we like to keep things simple. We recommend you checking your dashboard prior to every simulated trading day.
At any moment of the day [CE(S)T = Central European (Summer) Time], the result of all virtual closed positions in sum with the currently virtual open floating P/Ls (profits/losses) must NOT hit the determined virtual daily loss limit. Violation of this rule will result in account suspension.
Please make sure you have done the following:
- Closed all simulated open/running trades on the account.
- Completed a minimum of 5 simulated trading days and have reached the virtual profit target of 10% without any violations.
- You can upgrade your phase 1 account to a phase 2 account on your personal dashboard.
- Please note: this option only appears if you have met all the simulated trading objectives and have no violations of the rules on your account.
1) Closed all simulated open/running trades on the account.
2) Completed a minimum of 5 simulated trading days and have reached the virtual profit target of 7% without any violations.
3) Upon passing Phase II of the simulated evaluation, compliance will verify simulated strategies to approve to the certified phase. (See Certified account disclaimer).
A. Compliance will verify simulated strategies are not copied or managed. Any copied or managed strategies are automatically disqualified.
B. Compliance will verify that all Phase II simulated accounts pass the simulated evaluation following all rules of the terms and services. Simulated accounts that are not verified will receive an email notification, the reason and a new Phase II simulated account.
C. Verification Process can take up to 96 hours.
D. Upon creation of the Simulated Account, client will receive an email (the “Welcome Email”).
Certified Account FAQs
Receive your first reward 30 days after your first trade. A minimum of 10 simulated trading days each month. Your reward will be processed every 30 days.
Your reward will be sent to compliance for review. Upon approval you will be sent an invite from ADP WorkMarket. Upon KYC documents being completed and verified you will be added to the labor cloud, your Reward will then be processed within 3-5 business days. If documentation is not completed within 30 days you will be rejected, and the account will be breached for non-compliance.
You will qualify for your first reward 30 days after your first trade on your simulated certified account; from the second reward onwards, you will receive rewards every month (30 days). You can simply request your reward from your client dashboard.
Accounts will be reviewed and rewards will be distributed on business days only. Saturdays, Sundays and Holidays are not business days.
The minimum amount for a reward is $100.00.
If any account is placed in review by compliance, there is a 30-day review period.
All transaction fees are paid by the certified client.
If you are due to receive bonus funds, you will receive a bonus after 3 consistent rewards and you have been verified by the First Class Forex Funds Verification Team.
Your reward is 75%. Based upon consistent trading, can elevate up to 90%.
Virtual Daily drawdown is set at maximum of virtual 3% from the initial virtual account balance. At any moment of the day [CE(S)T = Central European (Summer) Time], the result of all virtual closed positions in sum with the currently virtual open floating P/Ls (profits/losses) must NOT hit the determined virtual daily loss limit. Violation of this rule will result in account suspension.
Overall virtual drawdown is set at maximum of virtual12% from the initial virtual account balance. At any moment during the simulated evaluation phase/ Simulated Certified Account. The result of all closed virtual positions in sum with the currently virtual open floating P/Ls (profits/losses) must NOT hit the determined overall loss limit. Violation of this rule will result in account suspension.
All Capital is Virtual Funds