Our system automatically breaches accounts that violate any of the drawdown rules or runs out of days in their challenge.
For UWM Funded Accounts, please review the What is the lot size limit? Help Center article to understand the maximum lot exposure for certain instruments within a UWM Funded Account.
Other Rules to Keep in Mind
Password Changes on Evaluation Accounts
Any accounts that change their master or investor passwords at any time during the challenge will automatically forfeit the challenge and are not eligible to continue trading. In order to review your account, we need to have access to it. If it is found that your password has been changed, there is no way for us to know if you have failed or passed, or if your strategies are legitimate. For example, connecting your account to services such as myfxbook, which requires users to change their investor password, would breach this rule.
Who Can Trade Your Account
All accounts associated with our challenges must be traded on by only the trader who owns the account and must not be altered once a phase is passed.
Altering Accounts
Once you pass Phase 1 or Phase 2, please do not alter the account in any way and make sure to close all positions. Altering an account after it has passed a phase will result in the account being invalid and therefore cause the trader to have to redo that phase.
Additionally, if an account you have already passed ends up being traded in any way, all following/upgraded accounts will be consider as failed and there will be no redo.
Trading Demo Accounts
All accounts are demo accounts. Therefore, it is against our rules to take advantage of any of the following: Even when a client becomes a UWM Funded Trader, they will be provided a demo account with virtual funds equal to their account size. UWM Funded Traders are entitled to 75% of the profits made in this account.
It is against our rules to take advantage of strategies that generate risk-free, consistent profits only on demo accounts. UWM Funded Traders are expected to be trading on their accounts as if they are live accounts. Any use of a strategy that takes advantage of demo accounts will result in the closure of a UWM Funded Trader’s account, whether in the evaluation phase or while funded.
Examples of strategies that go against our rules include:
Use of the guarantee of compliance with limit orders (including take profit and stop loss)
Use of platform or data freezing due to a Demo Server error
Use of a delayed data feed
Trading on delayed charts
Trading at a time of significant macroeconomic reports, and being filled at an unrealistic price due to the volatility of the event
Use of hedging trades between accounts
These are the most common strategies that we have seen people use to take advantage of demo accounts, though this list does not represent all possible strategies that would go against our trading rules. If any account is seen to be using unfair strategies or an unrealistic trading style, they will not be eligible to be funded.
Expired Accounts
Should you choose not to initiate trading on the account, whether it's for the evaluation or express service, and without prior notification, please be aware that after a period of 30 days, the account will be subject to suspension, and no refund will be applicable.