Let’s say you want to make $1,000 profit from a capital of $5,000. That’s a 20% profit target. You’ll get there, of course. Slow and steady.
Now, imagine working with a capital of $50,000 instead. That same $1,000 goal is now a 2% profit target, a 10-fold decrease in the difficulty and the risks involved!
That’s exactly why you need to stop trading with your own funds and start trading with ours. You’ll be doing the same work, but getting higher profits!
LegendaFX is seeking skilled and profitable traders to join us in the journey to becoming a funded trader. You come with the skills we want, and we will provide the capital you need.
Sign up with LegendaFX today or check out our FAQ to learn more.
We keep things simple and straightforward. We have no complicated rules to abide by. You show us you can trade well, and we’ll give you the capital to trade with. Win-win is the only outcome we are going for.
We are operating in collaboration with Eightcap, an award-winning and regulated broker that has been in the industry for more than a decade. Our traders will be trading on every trader’s favourite trading platform: MetaTrader4 and MetaTrader5.
MT4 and MT5 are supported on Windows and web browsers. Easy to use, secure, flexible and powerful. MT4 and MT5 are laden with superior tools for comprehensive analysis to help traders achieve the most accurate analysis.
We offer plans that cater to two tiers: Beginners and Experienced. Both have an assessment stage that you must pass in order to graduate into trading live.
Sign up according to the capital most suited for your risk appetite. Pass the evaluation stage, by not hard breaching any of the Trading Rules. All the rules you have to abide by during the evaluation stage will be the same as when you trade live. Profit share is set at 70% across the board.
Here at LegendaFX, we need our traders to undergo an assessment stage with a demo account first before we let them handle actual capital. The good thing is that an Evaluation stage also gives traders like you a chance to try out our technology, familiarize yourself with the rules, test out trading strategies and analyze if we will be a good prop firm you are comfortable trading with for the long term. It’s basically an assessment that works both ways.
We have collected common questions in the FAQ section below for your perusal. If you have any other questions, you can contact us at [email protected] and we will get back to you as soon as possible, within operating hours.
We only review all accounts for any exploitative, abusive or manipulative trading practices. There will be no behavioural reviews. If there are no bad trading practices that violate the spirit of the program or the rules of EightCap (such as latency arbitrage or statistical arbitrage) found, traders can proceed to trade live.
For an Assessment account, traders are expected to abide by the following rules. If they do otherwise, this will result in a breach of rule. There are two kinds of breaches, a hard breach and a soft breach. The following are the rules, and the type of breach if the rule is broken.
Daily Loss Limit is calculated daily based on the previous day’s end of day (5pm EST) balance.
Example: If your prior day’s end of day balance was $100,000 you would breach the Daily Loss Limit of 4% should your equity for the next day fall to $96,000 or below.
Maximum Trailing Drawdown (MTD) is the maximum you can drawdown your account before you would hard breach your account.
When you open the account, your Max Trailing Drawdown is set at 5% of your starting balance. This 5% trails your closed trading balance until you reach 5% profits in your account. Once you have achieved 5% in your account the max trailing locks in at your starting balance, and no longer trails your account.
Example: If your starting balance is $100,000, you can drawdown to $95,000 before you would violate the MTD rule. Then for example let's say you take your account to $102,000 in closed balance. This is your new high-water mark, which would mean your new MTD would be $97,000.
Next, let's say you take your account to $105,000 (achieving 5% profit) in closed balance, which would be your new high-water mark. At this point your MTD would be locked in at your starting balance of $100,000.
At ths point onwards, regardless of how high your account goes, you would only breach this MTD rule if your account drew back down to $100,000
For example, if you take your account to $180,000, as long as you do not drawdown more than the Daily Loss Limit of 4% on any given day, you would only breach if your account equity reaches $100,000.
We require a stop loss on every trade. If you fail to place a stop loss when placing the trade/order, we will close the trade automatically.
In line with sound risk management practices, we require a stop loss on every trade. If you fail to place a stop loss at the time of placing the trade/order, we will close the trade. Note that this is a only soft breach rule, so you can still continue trading in your account.
We require all trades to be closed by 3:45pm EST on Friday. Any trades left open after this time will be closed automatically. Note that this is a only soft breach rule, so you can still continue trading in your account once the markets reopen.
Below are the maximum open lots across all pairs that a trader can have at any given time.
For example, if you are in the $100k plan, you will be able to have 10 open lots with risk available.
If you buy 5 lots of EURUSD at 1.20 and your stop loss is at 1.18, you will have 5 lots on with risk; you would still have 5 available. If the EURUSD moves up to 1.25, and you update your stop loss to be at 1.20, which would be your open price, you no longer have risk on that trade. So, you would again have 10 lots available, even though you currently have 5 lots already open.
If you put on too many trades with risk, then our system will liquidate all trades that currently have risk.
Please note, margin and leverage requirements still apply. So, even though these are the maximum lots that can be traded, it is possible based on the leverage of the account that you may not be able to trade up the maximum.
Yes. If your account has not made a trade at least once over 30 days, you are considered to be an inactive trader, and your account will be terminated.
Yes, we allow copy trading but only from your own personal account, not other third party accounts. For example, if you own two accounts, one $100K and the other $50K, you can copy trades between these two assessment accounts. You can also copy from your own trading accounts outside of LegendaFX.
No. However, they can copy trades from your own personal accounts elsewhere.
Yes, we allow the usage of expert advisors (EA). However, you are prohibited from using any trading strategy that is expressly prohibited by EightCap Pty. For more details on these prohibited strategies, do refer to the Terms of Service section.
Yes, traders are allowed to have multiple accounts at the same time. However there are two limitations to this rule. (1) Traders are not allowed to purchase more than one plan of the same value. (2) The maximum funding allowed per strategy is capped at $1M. This means the total sum of the plans a trader purchased, cannot be more than $1M.
We work with a company called Deel to issue trader agreements and process withdrawals of profits. Upon passing your Assessment, you will receive an email from Gabriella from Deel [email protected] with instructions on how to access and complete your Trader Agreement.
Once the agreement is completed and the supporting Know Your Customer documents provided, your ‘Funded’ account will be created, funded and issued to you typically within 24-48 business hours.
Once you pass the Assessment, we provide you with a live account, funded with real capital.
The rules for the Funded account are exactly the same as your Assessment account. However, with a Funded account, there is no cap on the profits you can generate.
If you have profits in your Funded account at the time of a hard breach, you will still receive your portion of those profits.
For example, if you have a $100,000 account and you grow that account to $110,000. Should you then have a hard breach, we have to close the account. Of the $10,000 in profits, you would still receive your 70% portion ($7,000).
When you are ready to withdraw your profits, just send an email to our support email with the amount you would like to withdraw. We will then post your profit share into your Deel account, which you can withdraw via any of the available methods they offer.
You can withdraw your profits at any time, once per calendar month. At the time of any of your withdrawal request, we will also withdraw our share of the profits made, as well.
Important Note! Once you request a withdrawal, your MTD will be set at your starting balance. This means that if you take a full withdrawal of your share of the profits made in your account, it will also serve as a breach of your account.
You must use an account that we provide to you. The account provided for you is synced with our risk management software, which allows us to analyze your performance in real time for achievements or rule violations.
All countries, excluding OFAC listed countries, can take part in our program.
You must be at least 18 years of age to purchase an assessment.
Upon purchasing an Assessment, you will receive access to a Trader Dashboard where you can monitor your Assessment and/or Funded accounts. The dashboard is updated every time we calculate metrics, which occurs roughly every 60 seconds. It is your responsibility to monitor your breach levels.
Our risk management technology is currently integrated with the MT4 and MT5 platforms. These platforms, along with pricing and execution are provided by our broker, EightCap.
You can trade any products offered by EightCap. This includes FX, Indices, Metals, Equity Shares and Cryptocurrencies.
In line with sound risk management practices, we allow:
Trading hours are set by EightCap. We do not have any control over the trading hours. You can see the trading hours for each product by right-clicking on any product in the Market Watch window of the MT4 or MT5 platform and selecting Specifications from the dropdown menu.
Please note that holidays can have an impact on available trading hours.
Additionally, pursuant to the no holding trades over the weekend rule, we close all open trades at 3:45pm EST on Fridays.
We use the RAW accounts from EightCap. These accounts have commission charges for Forex and Equity Share CFDs. Other products do not carry a commission.
When trading a Funded account for our firm, you are treated as an independent contractor. As a result, you are responsible for any and all taxes on your profit share.
Keep track of all your progress from our LegendaFX Dashboard.
The clean and simple dashboard interface carries all the information that you need to monitor your trading progress at all times:
Daily loss limit
Maximum loss limit
Projected Annual Return
If you have more than one active Evaluation plan, you can keep track of all of them from the same all-in-one Dashboard.
Profit withdrawals can be made once a calendar month. Just submit an email to us with the amount you wish to withdraw. Based on the profit share, we will receive our 30% share the same time you will receive 70% of the amount requested, issued via Deel, a global solution provider which supports multiple payment channels. You will receive an email from Deel with instructions on how to proceed. Find more information in greater detail about withdrawals in the FAQ section.
If you have questions not addressed in the FAQ section, let us know at [email protected].
Why not accelerate your profits? You may be qualified to get a special
12% discount off any plan of your choosing.
Get in touch with us today!