Name: Prop Firm For the Traders
Item: SeacrestFunded
Rating: 5
Author: Daniel

Question 1

Who is eligible to sign up for SeacrestFunded accounts?

Accepted Answer

To sign up for a SeacrestFunded account, you must meet the following criteria:

• Reside in a country where we accept traders. Please note that individuals from the following countries are not accepted: Cuba, Iran, Lebanon, Syria, North Korea, Libya, Russia, Sudan, Somalia, South Sudan, Belarus, Myanmar, Central African Republic, Democratic Republic of Congo, Congo, Ethiopia, Iraq, Nicaragua, Venezuela, Yemen, United States, Pakistan, Vietnam, United Arab Emirates, Hong Kong, Malaysia, Philippines, Kenya, Algeria, and Morocco.

• Be of legal age to trade

• Be able to verify your identity with KYC (Know Your Customer) documents

Question 2

How do I get started with SeacrestFunded?

Accepted Answer

To get started with SeacrestFunded and make the most of the opportunities available, follow these steps:

• Create an Account: Visit the main SeacrestFunded website and sign up for an account.

• Select Your Account Size: Go to the SeacrestFunded challenge dashboard and choose the account size you want to purchase.

• Make Payment: Proceed with the payment by clicking the buy button and selecting your preferred payment method.

• Receive Account Credentials: Upon completion of the transaction, you will receive your account credentials.

• Start Trading: With your account set up, you are now ready to begin trading as a SeacrestFunded trader at your convenience.

Question 3

What is the trading environment like for SeacrestFunded, and what are the phases involved?

Accepted Answer

All phases of trading with SeacrestFunded occur within a simulated trading environment using demo accounts. Even in Phase 3 Simulated Prop Trading, accounts may appear as "Real" under our brokers but remain simulated demo accounts.

It's important to note that the information provided on the website is for general informational and instructive purposes only and does not constitute investment advice. Additionally, leveraged products such as CFDs and FX trading carry a high risk of loss, and users should be aware of local laws and regulations regarding trading activities

Question 4

What payment methods does SeacrestFunded accept, and what should I be aware of when making cryptocurrency payments?

Accepted Answer

SeacrestFunded accepts payments via credit card and cryptocurrency. Please refer to the image below for the types of cards and crypto assets accepted.

When making cryptocurrency payments, ensure that you are sending the asset or coin to the correct network to avoid any issues with payment receipt and the delivery of your credentials.

Question 5

What are the prohibited simulated trading practices at SeacrestFunded?

Accepted Answer

At SeacrestFunded, traders have flexibility in choosing their simulated trading styles and strategies, but certain practices are prohibited to maintain fairness. Here's a comprehensive list of prohibited simulated trading practices:

• Copy Trading: This involves mimicking trades of other traders across multiple accounts using market-purchased Expert Advisors (EAs).

• Simulated Reverse Trading/Group Simulated Hedging: Engaging in simulated reverse trades across multiple accounts or coordinating opposing positions across prop firms or simulated prop firms to exploit rules is forbidden.

• Demo Account Management Services: Purchasing or providing live account or demo account management services, or sharing account information, is strictly prohibited.

• Simulated HFT (High-Frequency Trading): Engaging in simulated high-frequency trading methods is not allowed.

Violating any of these rules will result in immediate failure and closure of the demo account. These restrictions are in place to ensure a fair and transparent simulated trading environment.

Question 6

What actions are prohibited when engaging in simulated trading at SeacrestFunded?

Accepted Answer

It's essential to adhere to certain rules and guidelines when participating in simulated trading at SeacrestFunded. Here's a list of prohibited actions:

• Using simulated trading strategies that exploit errors in the services, such as price display errors or delayed updates.

• Executing simulated trades using an external or slow data feed.

• Engaging in simulated trades with the intent to manipulate trading, including entering into simultaneous opposite positions.

• Conducting simulated trades that contradict the terms and conditions of the provider and the trading platform.

• Using software, artificial intelligence, ultra-high-speed techniques, or mass data entry methods that may manipulate or abuse the system.

• Performing simulated trades in a manner that contradicts typical trading practices or raises concerns about potential harm to the provider.

Violation of these prohibitions may result in consequences such as termination of trading privileges or closure of accounts. These rules are in place to maintain a fair and transparent trading environment.

Question 7

What should traders know about holding simulated trades overnight at SeacrestFunded?

Accepted Answer

At SeacrestFunded, traders have the flexibility to hold simulated trades overnight across all simulated account types and phases. Here's what you need to know:

• Overnight Simulated Trade Holding: Traders can keep their simulated positions open beyond the daily trading session to capitalize on potential price movements outside regular trading hours.

• Swap Fees: Holding simulated trades overnight may incur swap fees, also known as rollover or overnight financing charges. These fees reflect the cost of maintaining a position in the market and are primarily influenced by interest rate differentials between currencies.

• 3-Day Swap Fee: Every Wednesday, simulated positions held overnight will incur a 3-day swap fee instead of the usual overnight rollover, resulting in higher fees. Traders are advised to review their open positions and take necessary actions ahead of this weekly occurrence.

Swap fees are charged to reflect interest costs incurred by brokers for maintaining open positions. They are calculated based on position size, prevailing interest rates, and currency pairs involved. It's important for traders to understand the swap fee structure applicable to their demo accounts before deciding to hold simulated trades overnight.

At SeacrestFunded, we prioritize transparency regarding swap fees and encourage traders to assess their strategies accordingly. For further questions or information on swap fees or swap-free demo accounts, please contact our support team for assistance.

Question 8

Why are daily drawdown and maximum drawdown rules important at SeacrestFunded, and what are the consequences of violating these rules?

Accepted Answer

At SeacrestFunded, we prioritize risk management and the protection of demo account capital balances. To achieve this, we enforce daily drawdown and maximum drawdown rules. Here's what you need to know:

• Daily Simulated Drawdown Rule: This rule sets the maximum allowable simulated loss a trader can incur in a single trading day. Exceeding this limit can lead to demo account termination. By enforcing this rule, we aim to prevent excessive losses and protect traders from significant drawdowns.

• Maximum Simulated Drawdown Rule: This rule defines the threshold for the maximum cumulative simulated loss a trader can experience throughout the evaluation challenge. If this limit is surpassed, the demo account will be terminated, resulting in a failure of the challenge.

Adhering to these drawdown rules is crucial for responsible risk management and sustainable trading. They create a fair and secure simulated trading environment where traders can focus on growth while avoiding significant drawdowns that could undermine their performance.

It's essential for traders to monitor their positions, implement effective risk management techniques, and adhere to drawdown rules to maintain a successful trading journey. We provide guidance and support to help traders navigate these rules and develop risk-conscious trading strategies.

Question 9

How does SeacrestFunded's evaluation process work, and what is the benefit of offering unlimited time for evaluation trading accounts?

Accepted Answer

At SeacrestFunded, we provide traders with evaluation simulated trading demo accounts, offering unlimited time to complete the evaluation process. Here's how it works:

• Evaluation Trading Accounts: These demo accounts allow traders to showcase their trading abilities and potentially qualify for a prop trading demo account, where traders may receive payouts based on net gains from simulated trading.

• Unlimited Time: Unlike other firms with strict time limitations, we offer traders flexibility by not imposing a set time limit for completing the evaluation. Traders can trade, analyze performance, and meet evaluation criteria at their own pace.

• Evaluation Criteria: While there's no fixed time limit, traders must meet specific criteria such as profit targets, risk management skills, and consistent performance to qualify for a prop trading demo account. Unlimited time allows traders to focus on refining strategies and improving performance without feeling rushed.

By providing unlimited time for evaluation trading accounts, we aim to create a supportive environment where traders can develop and refine their trading abilities at their own pace

Question 10

Why is it prohibited to change passwords for demo accounts during challenges or simulated prop trading at SeacrestFunded?

Accepted Answer

At SeacrestFunded, maintaining the integrity and fairness of our challenges is paramount. Therefore, it's strictly prohibited to change master or investor passwords of demo accounts participating in challenges or simulated prop trading. Here's why:

• Ensuring Integrity: Keeping original passwords allows for proper monitoring and evaluation of trading activities, ensuring transparency and consistency throughout the process.

• Violation of Rules: Altering passwords undermines the integrity of the challenge and is considered a violation of the rules, resulting in automatic failure and disqualification from trading.

To maintain eligibility and increase your chances of success, it's essential to keep master and investor passwords unchanged throughout the entire challenge duration.

Question 11

What is the 'Trader's Daily Stop-Loss' rule at SeacrestFunded, and how is it calculated?

Accepted Answer

The 'Trader's Daily Stop-Loss' rule, also known as the daily stop-loss, is an important rule implemented at SeacrestFunded to protect traders' simulated equity. Here's an explanation:

• Definition: This rule sets a predetermined limit on the daily simulated equity decrease that traders can incur at any moment of the day (EE(S)T – Eastern European Summer Time).

• Calculation: The daily simulated equity decrease is calculated using the formula: Current daily loss = demo account simulated balance at the start of the day - current simulated equity.

Adhering to this rule helps traders manage risk effectively and prevent excessive losses. It ensures that traders maintain control over their trading activities and avoid significant drawdowns that could jeopardize their trading performance.

Question 12

What is the simulated gain target at SeacrestFunded, and how does it affect trading phases and strategies?

Accepted Answer

At SeacrestFunded, the simulated gain target plays a crucial role in trading phases and strategies. Here's what you need to know:

• Definition: The simulated gain target represents the specified percentage of the initial demo account balance that traders aim to achieve through closed positions. This target is typically set between 5-10% of the initial balance.

• Trading Period: Traders have unlimited time to meet the simulated gain target, allowing flexibility in trading strategies and approaches.

• Example: For instance, in a Challenge with $10,000 simulated capital and a 5% simulated gain target, traders aim to reach $500 in simulated gains. After completing the Verification period (Phase 2), the minimum simulated gain target is removed.

• Phase Advancement: Meeting the simulated gain target is essential for advancing through trading phases or earning commissions. However, once the target is achieved, traders can continue trading in Phase 3 without restrictions on simulated gains, as long as they adhere to other rules and objectives.

Understanding and achieving the simulated gain target is vital for traders to progress through phases and demonstrate trading proficiency at SeacrestFunded.

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