Terms and Conditions

THE COMPANY

First Frontier FZ-LLC (“First Frontier”) is a privately-owned company registered by the Registrar of Companies, Ras Al-Khaimah Government’s Economic Zone Authority in the United Arab Emirates with the registration ‎number 880730-474P-xzsJ-44022039. First Frontier is an educational company that runs an online educational trading ‎community and a prop trading firm that funds its traders through its Funded Trader Program trading platform.‎

First Frontier is not authorized or regulated by (i) the Central Bank of the UAE (CB); (ii) the Securities and Commodities Authority (SCA); (iii) the Dubai Financial Services Authority (DFSA), which is the regulator of the Dubai International Financial Centre (DIFC); and (iv) the Financial Services Regulatory Authority (FSRA), which is the regulator of the Abu-Dhabi Global Market (ADGM). Accordingly, it does ‎not undertake any financially regulated activities.‎ ‎By signing up for the First Frontier’s Funded Trader Program, you are agree to all of the programme’s Terms and Conditions including but not limited to Annexure A : list of tradable assets: forex, gold, & indices, Annexure B: Trading Styles, EAS & General Trading Rules, and Annexure C: Risk Management Policies & Guidelines hereto.

OUR SERVICE CONDITIONS.

 First Frontier is not a financial institution or a broker, and it does not ‎market any brokerage services.‎ It does not invest Funded Traders’ capital or trade it on the financial markets. All ‎‎funding is provided by the company’s own and its directors’ capital. ‎

First Frontier provides a practical evaluation for educational purposes in its Funded Trader Programs ‎to traders, giving them an opportunity to enhance their risk management and ‎trading psychology and compounding profits.

Any and all use of our services is subject to these Terms and Conditions (“T&Cs”), which may be updated by us from time to time without prior notice to users of our website and/or service. Any change of T&Cs shall be binding and effective upon posting of the revised T&Cs on our website. In addition to these T&Cs, specific services or information contained on this website may be subject to additional posted terms or guidelines applicable to such services. All such terms or guidelines are hereby incorporated by reference into this Agreement.

You accept that upon signing up, you will be eligible for the following:-

The Funded Trader Program (FTP):  this is a 2-step evaluation phase where you as the Evaluation Trader will have paid the premium access fee to undertake a 2-step funded account challenge developed by First Frontier. The program is developed for consistently profitable traders to become Funded Traders with First Frontier over the long term and potentially earn a profit share once they become Funded Traders.

Evaluation Trader (ET) Phase: this is when you have paid a premium access fee and received your Phase 1 evaluation account details, and are attempting to meet the Evaluation ‎Phase requirements (either for Phase 1 or Phase 2 of the Funded Trader Program), whilst complying with all the First Frontier’s T&Cs to qualify as a Funded Trader. You are considered an Evaluation Trader during both Phase 1 and Phase 2 of the Funded Trader Program.

The Funded Trader (FT) Phase: this is the phase where you as the Evaluation Trader will have met all the ‎trading requirements and successfully passed all stages of the Evaluation Phase of the Funded Trader Program.

WHO CAN BE A TRADER?

As the Traders can be anyone who is of legal age of majority in their jurisdiction, you warrant and confirm that you are of legal age to use the website. By using this Site, agreeing to these T&Cs, using our services and our application, you represent and warrant that you are of legal age within your jurisdiction or country and can validly enter into a binding contract and meet all of the relevant eligibility requirements. Any Trader from any nationality from Europe, North America, South America, Africa, Asia, Australia, & New ‎Zealand can participate, save persons from Syria, North Korea, Cuba, and Iran.

You agree to be subjected to a Know Your Customer (“KYC”) verification process by ourselves and upon passing the Evaluation phases of the First Frontier Funded Trader program above, you shall be required to provide the following before trading can commence:

  1. proof of identity being a valid ID, Passport, or Driving License.
  2. proof of address either a recent Utility bill, Bank Statement, or Broadband bill dated no older than three months.

The Funded Trader Program is not designed for large organisations, a group of individuals, or ‎copy traders. You will therefore be obliged to participate as an individual.

ACCESS TO SERVICES.

You agree that to access our service, you must first register to gain access to the dashboard. Once all the T&Cs have been fulfilled First Frontier shall provide the Funded Trader with access to a trading account (the “First Frontier Account”), which will be used solely and exclusively within the Trading Platform as part of the Services. The First Frontier Account shall only be activated once the Funded Trader places their first trade. Access to the Funding Frontier Account, and thus also to the Trading Platform, is protected by login data that Funding Frontier will display on the Funded Trader dashboard and or via email. You undertake as the Funded Trader not to make available, disclose or otherwise provide the login data to the First Frontier Account, the Trading Platform, or the Funded Trader Dashboard to any third party without the express written authority of the First Frontier.

You shall be solely and exclusively responsible for the protection of login data and the Funding Frontier Account and for all activities that are performed through the Funding Frontier Account or the Trading Platform and undertake and hereby indemnifies First Frontier from any and all liability howsoever arising in connection with the Funding Frontier Account, the Trading Platform or the Dashboard. We shall not be liable, and you shall not be entitled to any compensation, for any misuse or any transaction arising out of the Funding Frontier Account, Trading Platform, or any part of the Services and for any negative consequences thereof for you, if such misuse occurs for any reasons not attributable to and/or beyond the control of First Frontier.

You acknowledge that the contractual terms and conditions and privacy policy of the providers of the trading platform MetaTrader 4 and 5 or any such platform as shall be used by us from time to time shall apply to the use of the Trading Platform. You warrant that all data provided by you to us shall be complete, true, and up to date at all times. In the event of any change in your data, you shall immediately send a notification to us from your registered e-mail address. The notification must be accompanied by documents evidencing the change, if applicable.

You shall be responsible for the accuracy and legality of all the provided data being and its being up to date as well as ensuring that such information does not infringe any copyright, patent or trademark.  We shall not be obligated to verify the accuracy or otherwise of the data provided.

We do not guarantee that the Funding Frontier Account and the services shall not always be available for use by you, including during maintenance, upgrades, technical errors, or any other reason. You acknowledge that we shall not be liable, and you shall not be entitled to any compensation for:

  1. i) for the unavailability of the Funding Frontier Account, the Dashboard, or the Trading Platform;
  2. ii) for any damages or loss of any data or other content that the Funded Trader uploads, transfers, or saves via the Funding Frontier Account, the Dashboard or the Trading Platform; or
  3. iii) or for any Funding Frontier interventions or alterations in your Funding Frontier Account requested by you.

Where any compensation shall be rendered such shall be at the sole and absolute discretion of Funding Frontier.

It shall be your responsibility to procure the appropriate technical equipment (smart phone, laptop or desktop PC) and software, including third-party software (e.g., software/operating system for the use of the Trading Platform), at your own risk and expense. We do not warrant or guarantee that the Services will be compatible with any specific technical equipment or software. We further provide no warranty as to the compatibility of the Services with any device, program, or add-on.

As the authorised Funded Trader you will have complete control of the trading platform and be the only person accessing the account and we will not ‎interfere with any of your accounts unless you fail to comply with ‎our Risk Management Policies.

Only traders with some experience with forex trading terms such as the difference between Market Orders, Limit Orders, and Stop Orders, ‎Market Open and Closing Hours, Economic Calendar and News Releases, Flexible and Fixed Spreads, Overnight Rollover Time, ‎Commissions, Overnight Swaps, Pip, Point Value, Lot Size, Stop Loss, Take Profit, Market Order, ‎Stop Order, Limit Order, Ask, Bid, Relative Drawdown, Absolute Drawdown will be accepted into the programme.‎

The membership will only be maintained if you also demonstrate adequate trading skills in all the Funded Trader Program phases. Failure to do so shall result in disqualification and termination of the participation.

THE FEE STRUCTURE AND REFUNDS

First Frontier does not refund any sign-up fee  ‎to the funded trader once the funded account ‎has been purchased.‎ You will be required to pay a  sign-up fee to be admitted into the programme to cover the trading costs the ‎funded trader ‎may incur during the Funded Trader Program. The sign-up is non-refundable and shall not be regarded as a deposit into a trading account of any kind.‎ We confirm that First Frontier does not charge any monthly or recurring fees throughout the Funded Trader ‎Program.‎

You agree that once the Funded Account has been traded you will cannot be upgraded to a ‎larger Funded Account nor downgraded to a smaller ‎Funded Account.

TERMINATION

As the authorised Funded Trader you are obliged to report to Funding Frontier via email to (email address to be inserted) if their ‎account credentials have been lost or stolen.‎ The termination of the Funded Trader Program can occur due to the trader’s inability to adhere to ‎the terms and conditions of this agreement. We reserve the right to terminate the Funded Trader Program Agreement for any of the following reasons:‎

  1. reaching the Max Absolute Drawdown $ (Fixed Loss from Initial Capital) during any of the Evaluation or Funded Trader Phases;
  2. ‎ the third violation of the 2.50% max risk per position rule;
  3. one (1) month or more of no trading activity on the Funded Trader or Evaluation account without written official notice to Funding Frontier via email;
  4. ‎the misuse or abuse of the Funded Trader Program;
  5. ‎the use of the Funded Trader Program for any other purpose other than for reasons stated in the Agreement;
  6. ‎‎performing prohibited trading activity, such as High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, any  Tick Scalping  Strategies, any Copy Trading of other person’s ‎signals, any Reverse Arbitrage Trading, any Hedge Arbitrage Trading, any use of emulators, and Martin Gale Style EAs;
  7. ‎ group trading (manually or using the same EA by one individual on more than 2 accounts ‎or by multiple individuals on multiple accounts); and
  8. ‎ social trading, copy trading from other traders, and any mirrored trading activity.

‎You agree that at all times, that Funding Frontier has the right to terminate your funding as it sees ‎fit to its risk tolerance and willingness to risk its own capital during all phases of the Funded Trader Program at its own discretion.

Upon termination the Funding Frontier will disable the trading permission in the Funded Account, and the Funded Trader will lose access to the Funded Account. Funding Frontier reserves the right to terminate any account on account of breach of the trading rules and regulations with no recourse to them whatsoever. The Funded Trader can always apply again if they wish to comply ‎‎with ‎the terms and conditions during their enrolment in the Funded Trader Program. Nevertheless, Funding Frontier reserves the right to reject the application.‎

THE TERMINATION NOTICE

Funding Frontier will send to your email an official notice of termination, and you may, at any time request, a copy of the trading statement.

COMMUNICATION WITH THE COMPANY

Email, Discord & Live Chat shall be the official communication mediums between the Funded Trader and Funding Frontier and the Funded Traders shall provide a valid email while enrolled in the Funded Trader Program for to ‎‎communication.‎ The Funded Trader shall notify Funding Frontier of any trader’s email address changes.‎

We shall have the right to either freeze or terminate the Funded Account if you fail ‎to ‎respond to the company’s emails. ‎We shall provide phone calls and Zoom as backup media for communication.‎

MISUNDERSTANDING AND ERRORS IN COMMUNICATIONS

Subject to the terms and conditions 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 discovering an inadvertent error or omission by either party hereto, appropriate ‎adjustments shall be made as soon as possible 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.

‎We reserve the right to change the Website, its content, any function or conditions of the services provided or these Terms and Conditions at any time. We shall provide you with reasonable notice if we make any change to these Terms and conditions except where we are required by law to make any changes to Terms and Conditions, these changes will apply automatically to any transaction currently pending in addition to any transaction placed by you in the future. You will be bound by any changes to the Terms and Conditions from the first time you use the Website following the changes.

By accessing this site you confirm that you have understood the terms and conditions of this Agreement and the operating terms and conditions and agree therewith. Being Funded Trader you agree to adjusting your risk exposure to match the requirements of the ‎Funded Trader Program before starting to trade with FF’s capital.‎ You are agree that First Frontier FZ-LLC is entitled to modify, improve or discontinue any of its services at its sole discretion and without notice to you even if it may result in you being prevented from accessing any information contained in it.

ANNEXURE A: LIST OF TRADABLE ASSETS: FOREX, GOLD, & INDICES

Majors: EURUSD, GBPUSD, NZDUSD, AUDUSD, USDCHF, USDCAD, USDJPY.‎

Minors : EURGBP, EURNZD, EURAUD, EURCHF, EURCAD, EURJPY, GBPNZD, GBPAUD, ‎GBPCHF, ‎GBPCAD, GBPJPY, NZDAUD, NZDCHF, NZDCAD, NZDJPY, AUDCHF, AUDCAD, AUDJPY, ‎CADCHF, CADJPY, ‎CHFJPY.‎

Commodities: Gold, Silver, Oil.

Major Indices: S&P500, US30, US100, DAX, UK100, F40, JP225, STOXX50, AUS200.

Challenge Accounts

Phase 1 Details

Fees

Accounts are available in USD. Account sizes and fees are fixed and will simply be billed and the account issued in the chosen currency.

Account SizeChallenge Fee
$10 000.00$99
$25 000.00$199
$50 000.00$299
$100 000.00$525
$200 000.00$999

This is a one-time fee. It is subject to change at any time by First Frontier.

Fees are non-refundable until Funded Status where, after 30 days of Funded Status, if the account balance is greater than their account capital, the trader will be issued a refund of their Challenge fee.

The Maximum capital allowance for Challenge accounts is $400,000. This can be made up of multiple accounts of difference account sizes.

Rules

(a) Daily Drawdown Rule

During any Trading Day (23:00:00 CET to 22:59:59 CET the following day) in the Reference Period, neither the Evaluation Trader’s account balance nor account equity can drop by 5% or more of the Closing Balance of the previous Trading Day. This is known as the Daily Drawdown Rule.

For example, if a trader’s previous Trading Day’s closing balance is $100,000, neither their equity nor balance can drop to or below $95,000 within the following Trading Day as this would be a loss of $5,000 (5% of $100,000).

(b) Max Drawdown Rule

During any stage of The Funded Trader Program, neither the account balance nor the account equity of the Evaluation Trader and First Frontier Account may fall to or below 10% of the account balance at the start of the Phase. This is known as the Max Drawdown Rule.

For example, a trader bought a $100,000 account, neither their equity nor balance can ever drop to or below $90,000.

(c) Inactivity Rule

If the trader has been inactive for 30 days, First Frontier reserves the right to close the account with no refund. This is to re-allocate resources and to ensure our trade servers and our dashboard are running at optimal performance.

(d) Responsible Trading Policy

The trader must not breach any rules set out in the Responsible Trading Policy.

Breaking the Daily Drawdown Rule, the Max Drawdown Rule or the Inactivity Rule will result in account termination. Breaching the Responsible Trading Policy may result in the trader’s funded request being rejected and thus being required to re-attempt Phase 1.

First Frontier reserves the right to change the rules for Challenge Accounts at any time.

If we discover at a later time that you have breached any of our terms and conditions, we reserve the right to terminate your account. In the event this happens, you will not be entitled to a refund.

Target

Profit Target

To complete Phase 1 and progress to Phase 2, the trader must achieve a total profit of 7.5% of the initial account capital with all positions closed and without breaking any rules set out in these Terms and Conditions.

Time Limit

The trader has unlimited time to complete the challenge.

However, a minimum of five trading days are required to progress to the next evaluation stage (Phase 2) if all other requirements have been met.

Phase 2 Details

Rules

(a) Daily Drawdown Rule

During any Trading Day (23:00:00 CET to 22:59:59 CET the following day) in the Reference Period, neither the Evaluation Trader’s account balance nor account equity can drop by 5% or more of the Closing Balance of the previous Trading Day. This is known as the Daily Drawdown Rule.

For example, if a trader’s previous Trading Day’s closing balance is $100,000, neither their equity nor balance can drop to or below $95,000 within the following Trading Day as this would be a loss of $5,000 (5% of $100,000).

(b) Max Drawdown Rule

During any stage/phase of the Funded Trader Program, neither the account balance nor the account equity of the trader’s First Frontier Account may fall to or below 10% of the account balance at the start of the Phase. This is known as the Max Drawdown rule.

For example, a trader bought a $100,000 account, neither their equity nor balance can ever drop to or below $90,000.

(c) Inactivity Rule

If the trader has been inactive for 30 days, First Frontier reserves the right to close the account with no refund. This is to re-allocate resources and to ensure our trade servers and our dashboard are running at optimal performance.

(d) Responsible Trading Policy

The trader must not breach any rules set out in the Responsible Trading Policy

Breaking the Daily Drawdown Rule, the Max Drawdown Rule or the Inactivity Rule will result in account termination. Breaching the Responsible Trading Policy may result in the trader’s funded request being rejected and thus being required to re-attempt Phase 2.

First Frontier reserves the right to change the rules for Challenge Accounts at any time.

If we discover at a later time that you have breached any of our terms and conditions, we reserve the right to terminate your account. In the event this happens, you will not be entitled to a refund.

Targets

(a) Profit Target

To complete Phase 2, thus completing the 2-step challenge and moving to funded status, the trader must achieve a total profit of 5% of the initial account capital with all positions closed and without breaking any rules set out in these Terms and Conditions.

(b) Time Limit

The trader has unlimited time to complete the challenge.

However, a minimum of five trading days are required to progress to the next stage (Phase 3 – Funded Status) if all other requirements have been met.

Phase 3 (Funded Status) Details

Rules

(a) Daily Drawdown Rule

During any Trading Day (23:00:00 CET to 22:59:59 CET the following day) in the Reference Period, neither the Funded Trader’s account balance nor account equity can drop by 5% or more of the Closing Balance of the previous Trading Day. This is known as the Daily Drawdown Rule.

For example, if a trader’s previous Trading Day’s closing balance is $100,000, neither their equity nor balance can drop to or below $95,000 within the following Trading Day as this would be a loss of $5,000 (5% of $100,000).

(b) Max Drawdown Rule

During Phase 3 (Funded Status), neither the account balance nor the account equity of the Funded Trader’s First Frontier Account may fall to or below 10% of the account balance at the start of the Phase. This is known as the Max Drawdown rule.

For example, a trader bought a $100,000 account, neither their equity nor balance can ever drop to or below $90,000.

(c) Inactivity Rule

If the trader has been inactive for 30 days, First Frontier reserves the right to close the account with no refund. This is to re-allocate resources and to ensure our trade servers and our dashboard are running at optimal performance.

(d) Trading Behaviour

The Trader must continue to use the same strategy when funded as during the challenge. If there is a significant change of behaviour when funded (suggesting a change of trading strategy) a withdrawal can be refused. This will be at the sole discretion of First Frontier.

The trader must not breach any rules set out in the Responsible Trading Policy.

Breaking the Daily Drawdown Rule, the Max Drawdown Rule, the Inactivity Rule or the Trading Behaviour Rule will result in account termination.

Breaching the Responsible Trading Policy may result in the trader’s funded account balance being reset, and/or a temporary reduction of profit split to 25%, and/or a withdrawal being refused, and/or a scaling request being rejected and in extreme circumstances, account termination. The final decision will be at the discretion of First Frontier.

First Frontier reserves the right to change the rules for Challenge Accounts at any time.

If we discover at a later time that you have breached any of our terms and conditions, we reserve the right to terminate your account. In the event this happens, you will not be entitled to a refund.

Withdrawing Profits

To qualify for a withdrawal, ALL of the following conditions must be met:

(a) The trader must have been funded for at least 30 calendar days for their first withdrawal on their phase 3 account (Funded Status). This is known as Account Age.

Thereafter, trading profits will be paid out bi-weekly if the Funded Trader meets the requirements for a pay-out.

(b) The trader must not have withdrawn from this account in the last 14 calendar days.

(c) The trader must not have broken any rules set out in these Terms and Conditions.

Once requested, the withdrawal will be removed from the trader’s account balance. First Frontier will send the trader login details to a new account with the account balance reset to the original balance. The trader can continue trading on the new account.

8.2.2.3.3. The standard profit split for Challenge accounts is 80%. This may differ if:

(a) The trader purchases an account with a coupon code which gives an increased profit split.

(b) The trader breaches the Responsible Trading Policy Risk Management Rules and has consequently been given a temporary profit split reduction.

(c) The trader has scaled their account to a phase which gives an increased profit split.

(d) Profit splits will only be paid if the trader has complied with all the Terms and Conditions of this agreement and remains at the discretion of First Frontier.

SPREADS & COMMISSIONS

The spreads we use are very competitive, and it is usually 0.1 pips for EURUSD on ‎average.

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. ‎

At the end of each day, between 10 PM & midnight UK Time, the banks move vast ‎amounts of orders from the current day to the following day while there is less liquidity. 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.‎

The commission is fixed at $3.50 per lot per side ($7.00 per round trip) for FX and Commodities on the Evaluation. First Frontier and/or its broker reserves the right to change this at any time.

The commission is fixed at $3.50 per lot per side ($7.00 per round trip) for FX and Commodities once funded on a Funded Trader Account.

 MARKET GAPS & SLIPPAGE

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.‎

Slippage can occur at any time but is mostly relevant during periods of high volatility when ‎market orders are executed. This can also happen when a large market order is executed, but ‎there isn’t enough volume at the chosen price to execute the trade at the current market ‎price. Slippage can occur when there is a delay between the trade being ordered and when ‎it’s completed. Therefore, First Frontier does not guarantee to pay the profit for trades where significant ‎slippages occur on First Frontier’s corporate trading account.‎

 ANNEXURE B: TRADING STYLES, EAS & GENERAL TRADING RULES

First Frontier supports responsible traders who show a talent for Trading. We do not support traders looking to cheat the system, or who trade with a gambling “all-or-nothing” mentality. We therefore have a Responsible Trading Policy for Traders to abide by.

You agree that before your commitment, that you already have a trading strategy and have experience in good risk management practices, which is important to pass the challenge.

  • Trades Duration: With First Frontier, you can trade any trading style (scalp, day trading, or swing trading).
  • Weekend Trading: Any trades can be left open on weekends without restrictions.
  • News Trading: You are allowed to trade during all low, medium, and high-impact news without any restrictions.
  • EA: EAs are allowed except the EAs of Martin Gale, High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, any Tick Scalping Strategies, any Reverse Arbitrage Trading, any Hedge Arbitrage Trading, and any use of emulators which are not allowed. Using any of the EAs mentioned above will cause immediate termination of the account without notice or compensation whatsoever. This decision remains at the sole discretion of First Frontier.
  • Trading Strategies which exploit errors in the service such as errors in the display of prices or delays in their update, including but not limited to any HFT trading, latency arbitrage, news straddling, stop order arbitrage are prohibited and will result in the immediate termination of the account without notice or compensation whatsoever. This decision remains at the sole discretion of First Frontier.
  • It is strictly prohibited to use any software, artificial intelligence, high-speed or mass data entry which might give you an unfair advantage. Such use shall be considered cheating and shall result in the termination if the account forthwith and without any compensation whatsoever. This decision remains at the sole discretion of First Frontier.
  • It is prohibited to Perform Trades using an external or slow data feed.
  • It is prohibited to perform trades contrary to how trading should be performed in the financial markets, or in a way which causes First Frontier financial harm.
  • Copy Trading: Any Copy Trading of other people’s ‎signals, Group Trading with other individuals, or funded account management services or “challenge-passing” services are not allowed. Any Copy Trading activity mentioned above will cause immediate termination of the account. However, the Funded Trader may copy trades from its personal account to First Frontier account, provided that Funded Trader can provide proof of such copied trades to First Frontier.
  • Stop Loss: You are obliged to use a stop loss on every trade as soon as reasonably practicable and in any event at least within 5 (five) minutes of the trade thereof. Failing to do so will result in a warning being issued to the trader and could ultimately result in the termination of the trading account if the trader continues to not abide by the rule.

PROHIBITED ACTIONS AND ACTIVITIES

  1. The Funded Trader shall not trade the Funded Account in coordination or in conjunction with other active ‎traders on ‎the same account.‎ The account shall be for the sole and singular use of the Funded Trader.
  2. ‎The Funded Trader must not use the name of another person on one or more funded accounts.
  3. The Funded Trader must not duplicate trades and orders using copy/social trading service providers. ‎However, the ‎Funded Trader can copy their other personal accounts into a First Frontier Account.
  4. The Funded Trader shall not open accounts in other people’s names, entities or styles other than their own name.
  5. As a First Frontier Funded Trader you may have up to 2 funded accounts at the same time and may from time to time merge two funded accounts into one. The merged accounts will be treated as one account after the two accounts are merged.

 ANNEXURE C: RISK MANAGEMENT POLICIES & GUIDELINES

It is prohibited to max out on leverage on any single trade and to ensure responsible risk management practices as a Funded Trader you shall not max out on leverage on any single trade and in the event of entering a trade when maxed out on leverage or an unusual volume size to the entry, that trade shall not in any way be counted towards the trader’s profit target.

You agree that to protect First Frontier’s capital and help our traders succeed we monitor every account for gambling or reckless trading and in particular to look for the following:

(a) risking 100% or more of your drawdown limits in open trades, for example, open trades totalling 5% risk if the traders max daily loss is 5%,

(b) risking 50% or more of your drawdown limits in a single trade or across multiple trades on the same instrument such as risking 2.5% on a single position if the traders max daily loss is 5%, or

(c) trading with no stop loss.

For every trade, the trader must add a stop loss within 300 seconds (5 minutes) of the position open time. Any modifications within this initial 300 seconds (5 minutes) are immune from the Risk Management Rules, i.e. You have unlimited opportunities within this initial 300 seconds (5 minutes) to make sure your stop loss is set to a level which does breach the Responsible Trading Policy.

After this initial 300 seconds (5 minutes), traders have no limit on how many times they may modify a position, but we will only permit one stop loss modification error which breaches the RTP as long as it is rectified within 30 seconds of the error being made. For example, if the trader moves their stop loss to a price which breaches the RTP, they have 30 seconds to amend the mistake and must not make any more mistakes for the remaining duration of this trade.

The stop loss value when the trade is closed is final. If a trade is closed with no stop loss or if the stop loss set breaches the risk management rules, this will be a breach regardless of the trade duration.

Accounts are reviewed manually on a regular basis, and at key events such as the progression from from Phase 1 to Phase 2, Phase 2 to Phase 3 (Funded Phase), the request for an account scale or a withdrawal request. If we see signs of gambling or “all-or-nothing” mentality or if we deem an account to be extremely high risk, we reserve the right to take any of the following actions:

(a) Reset a Challenge account to the start of Phase 1.

(b) Reset a Challenge account to the start of Phase 2.

(c) Rejection of request for Funded Status.

(d) Reset of Funded Account (either Funded Challenge or Instant Funding) back to initial funded capital.

(e) Temporary reduction of between 25% and 100% of profit split.

(f) Refusal of Withdrawal.

(g) Refusal to Scale.

(h) Full Account Termination.

(i) Reduction in Account Leverage