5.1 We reserve the right to refuse service to anyone for any reason at any time. Prices for our products are subject to change without notice. We reserve the right at any time to modify or discontinue the Service (accounts provided) (or any part or content thereof) without notice at any time. We shall not be liable to you or to any third party for any modification, price change, suspension or discontinuance of the Service..
5.2 We reserve the right, but are not obligated, to limit the sales of our products or Services to any person, geographic region or jurisdiction. We may exercise this right on a case-by-case basis. We reserve the right to limit the quantities of any products or services that we offer. All descriptions of products or product pricing are subject to change at any time without notice, at our sole discretion. We reserve the right to discontinue any product at any time. Any offer for any product or service made on this site is void where prohibited. We do not warrant that the quality of any products, services, information, or other material purchased or obtained by you will meet your expectations, or that any errors in the Service will be corrected.
5.3 You acknowledge that the Company has access to information about the demo trades that you perform on the Trading Platform. You grant the Company your consent to share this information with persons/entities who are in a group with the Company or who are otherwise affiliated with the Company, and you grant the Company and these persons/entities your consent and authorization to handle this information at their own will. You agree that these activities may be performed automatically without any further consent, consultation, or approval on your part necessary and that you are not entitled to any remuneration or revenue associated with the use of the data by the Company. The Company is aware that you do not provide the Company with any investment advice or recommendations through your demo trading.
5.4 While trading with an Overview Funding Program provided account is prohibited to:
Use software which could manipulate, abuse or give you an unfair advantage when using our Service;
Latency arbitrage, long-short arbitrage, reverse arbitrage, opposite account trading, hedging and the use of Expert Advisor (EA), Tick trading and news straddling methods;
Trades which take advantage of unrealistic demo fills and/or conditions will not be taken into consideration in the payout count. If consistent unregular behaviour is detected, we reserve the right to block your account.
5.5 At OFP we support 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.
5.6 Traders must abide by the following General Trading Rules:
It is prohibited to:
Use prohibited 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; HFT latency arbitrage, news straddling, stop order arbitrage etc.
Perform Trades using an external or slow data feed.
Perform alone or in collusion with other people, combinations of trades, for example simultaneously entering opposite positions on different accounts, or multiple traders placing the same trades.
Use “challenge passing” services or account management services.
Breach the Terms and Conditions of the Provider or Trading Platform.
Use any software, artificial intelligence, high-speed or mass data entry which might give you an unfair advantage.
Otherwise perform trades in contradiction with how trading should be performed in the financial markets, or in a way which causes OFP financial harm.
5.7 Traders must abide by the following Risk Management Rules:
To protect our capital and help our traders succeed we must monitor every account for signs of gambling or reckless trading. Specifically looking for the following situations:
Trading with no stoploss.
Changing strategy after a winning trade to hold the profits until the payout day.
Taking advantage of demo conditions.
If we feel that a trader has reckless behaviour, particularly by breaching any guidelines set out in Section 5, OFP reserves the right to take action against the trader.
5.8 Accounts are reviewed manually on a regular basis. 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:
Send a warning
Remove the account profits
Modify the payout
Temporary reduction of profit split
Refusal of Withdrawal
Full Account Termination
5.9 It is prohibited to use MQL5 signal services or to directly copy trades from another Trader.
5.10 It is fully prohibited to use any high-frequency trading (HFT) strategy or to use any e-trading protocols to execute positions on your account, these include but are not limited to placing trades by:
ITCH Market Data Protocol
5.11 If the Trader breaches any of the Rules within this Section 5, OFP reserves the right to terminate the Account with immediate effect and no Refund will be issued.
5.12 If the Trader breaches any of the Rules within Section 5 in collusion with another OFP Trader, all involved accounts will be terminated with immediate effect and no refund will be issued.
5.13 OFP re serves the right to terminate any accounts for which OFP has reasonable suspicion of wrongdoing. No refund will be issued.
DEVELOPMENTS IN FINANCIAL MARKETS ARE SUBJECT TO FREQUENT AND ABRUPT CHANGES. TRADING ON FINANCIAL MARKETS MAY NOT BE PROFITABLE AND CAN LEAD TO SIGNIFICANT FINANCIAL LOSSES. ANY PREVIOUS PERFORMANCES AND PROFITS OF THE CUSTOMER’S DEMO TRADING ARE NOT A GUARANTEE OR INDICATION OF ANY FURTHER PERFORMANCE
5.14 Gambling Policy
We consider a trader’s trading behaviour as “gambling” if it breaks any of the terms laid out in this policy by the Prop firm.
Genuine traders, consistent traders, beginners, and advanced traders who use a method and a consistent style of trading are not prone to violating the gambling policy as laid out by the prop firm and understand that trading requires a method and consistency.
The Company runs daily checks on each account to monitor the trading behaviour and flag suspicious activities. Clients who trade on an Overview Funding Program account must show they oversee their risk management.
Once a position, or multiple positions, is flagged as gambling, the account will be terminated, and we will send the Client an email explaining why certain trades were flagged.
Trading behaviours that are prohibited by this program include:
Abnormally large average lot size:
We will compute the average of the Trader lot sizes for every asset class which means all forex pairs together, cryptos and indices etc… and if one or more trades present a lot size that exceeds 2.5 times the Trader average lot size on that particular asset class, they will be considered a violation of the gambling policy.
Here’s an example representing the first trading week on one forex pair:
3 trades executed with 0.20 lots
4 trades executed with 0.50 lots
2 trades executed with 0.60 lots
3 trades executed with 3 lots
The software will flag the three (3) trades with a lot size of three (3) as abnormally large. The average lot size is 1.07 (i.e.(Sum of all lots per asset class)/(number of trades per asset class) = ((3*0.2)+(4*0.5)+(2*0.6)+(3*3) )/12 = 1.07lots), thus 1.07 x 2.5 = 2.68 lots represents the maximum allowed lot size. Trades opened with three (3) lots exceed the maximum allowed lot size and will be a violation of the gambling policy. The same policy is valid on contrary, the minimum lot size is 1.07/2.5 = 0.43 lots. To avoid trades violating the gambling policy at the end of the first week we suggest our traders during the first week to calculate the average of each asset class on day one or two and then stick to that range for the rest of the week (i.e. week one).
The first week will determine the range on all forex pairs for the second week, what this means is since the average for week one (1) on all forex pairs was 1.07 lots you have a range of 0.43 lots to 2.68 lots as per the calculation above.
Suppose the Trader executes 3 trades in week 2, all at lot size of 1.70 lots which is within the range established above. The Trader’s week 2 average lot size will be 1.70 lots (i.e.(Sum of all lots per asset class)/(number of trades per asset class) = ((3*1.70))/3 = 1.70 lots), this means that week 3 upper and lower lot size limits are going to be
1.7 x 2.5 = 4.25 lots
1.7/2.5 = 0.68 lots
The Trader’s week 3 trades must not exceed these upper and lower limits and any trade that exceeds either of the end limits will result in a violation of the gambling rule.
It’s important to note that once multiple positions (i.e. more than 1 trade) violate the gambling rule this will lead to a sanction as we are looking for traders that practice sound risk management.
We recommend traders place trades with lots close to the upper limit of the previous week, this means if the Trader’s range is 0.68 lots to 4.25 lots, place trades with lots on the upper end of this range e.g. 4 lots and your average for that current week will automatically increase hence, the trade will have a new higher trading range. The account’s reset occurs at the start of each new trading month (i.e. after every four (4) trading weeks), allowing traders to begin trading with a completely new lot size range.
Our program allows traders to trade with no lot size restrictions, trade news, and keep positions open at all hours of the day and throughout the weekend. Trading with an abnormally large lot size will be detected by the software if the trader tries to take a chance (on news events, reports, or merely just trying to be lucky) by placing an order and dramatically increasing the lot size from the average kept over the previous days of trading in order to attempt a lucky shot and profit when the trader would not normally trade in this manner, especially when using a real account.
When reviewing accounts our team looks at the overall behaviour of the trader and if we deem a trading behaviour as “gambling” by breaking any of the 3 points within the gambling rule, for example, a member that only trades GBPUSD or Indices profiting the first two weeks and then drastically reducing their risk and switching over to a different asset class(i.e. crypto) such as BTC to try and fool our team that they’ve respected the 3-day trading rule is not accepted and is a violation of the gambling rule. The aim of the program is to help traders be consistent and find consistent traders hence we expect each trader to have a well-defined trading plan they follow each trading week.
Opening and closing positions with high frequency with a duration of fewer than 120 seconds for each position just to simulate that the trader is consistent with a new high lot size will be detected by the software and will be flagged.
For example, a Trader who normally trades with an average of 2 lots, opens a new position exceeding its average lot size, and then tries to manipulate the software by adding various new high lot size positions opened and closed for seconds just to create “new historical data” will be flagged.
The Trader has the possibility to violate the minimum duration one time every 28 days, while the second violation will block the account.
This program was created with the goal of producing consistent traders rather than gambling traders, and it also aims to reflect a realistic trading scenario by asking traders to observe and practice sound risk management.
We want to emphasize that we are confident that any consistent trader who exhibits good trading behaviour will be exempt from the gambling policy. This policy was created to protect the prop company from those who would seek to exploit it. Please feel free to have a look at the video HERE which aim is to further clarify the policy.
5.15 Payouts can be subjected to transaction fees depending on the chosen payment method. All transaction fees will be subtracted from the payout total, be aware that some payment methods require a minimum payout amount.
The Client is prohibited from changing passwords to the trading account under penalty of immediate termination of the service, there is no exemption to this event.