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FAQs

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  • What are the different account sizes offered by us?
    Our platform offers five different account sizes: 10k, 25k, 50k, 100k, 200k.
  • What does the account size represent?
    The account size denotes the available balance that can be utilized for trading on the account.
  • Will the account balance remain the same for the Evaluation Phase and the funded account?
    Yes, the account balance will remain the same for both the Evaluation Phase and the funded account. Whenever you pass a challenge the balance will reset to the starting balance. Making withdrawals will only deduct your profits made, your starting balance cannot be withdrawn.
  • Can I trade multiple accounts simultaneously on your platform?
    Yes, you can purchase and trade multiple Evaluations at the same time.
  • Is there a limit to the number of funded accounts I can merge on your platform?
    No we do not merge accounts.
  • Can I grow my account balance beyond the offered account sizes on your platform?
    The maximum capital allocation $600k but you cannot merge accounts.
  • Do you offer a free retry for the Evaluation Phase?
    No, we don't offer a free retry. However, there is no minimum number of trading days required for passing the Evaluation Phase, which means you can take as much time as you need to pass.
  • What happens after I pass my challenge?
    You receive your funded credentials and a certificate of completion.
  • When can a trader become eligible for a payout on the funded account?
    A trader is eligible for a payout 30 days from their first trade on the funded account and becomes eligible again 14 days after the first trade after withdrawing.
  • What are the eligibility criteria for a payout on funded accounts?
    To be eligible for a payout on funded accounts, your account balance must be above the initial account balance and no violations must be recorded. Additionally, all of the trader’s positions must be closed (no open trades and no open orders) to receive a payout.
  • How long does it take for the payouts to be processed?
    The payouts are processed within 7 working days
  • How can Funded Traders request payouts?
    Traders can request it through the trader's dashboard through our "Wallet" section of the dashboard.
  • What payment types do you offer for payouts?
    You can request to receive your payout alternatively via Bank Transfer,($30) same day wire fee Crypto (BTC) within the trader's dashboard in the "Bank Details" section enter your preferred method of payout.
  • What happens if I violate the rules or trading parameters during the Evaluation Phase?
    If you violate the rules or trading parameters during the Evaluation Phase, your account will become no longer eligible for funding.
  • What happens if I breach the rules or trading parameters on the funded account?
    If you breach the rules or trading parameters on the funded account, your account will be closed.
  • How will I know if my account has violated the rules or trading parameters?
    Upon violation of any rules or guidelines set by Legacy Prop Trading, you will receive an email and your account will be disqualified/terminated.
  • What can I do to prevent violating the rules or trading parameters?
    It is important to thoroughly understand and adhere to all the rules and trading parameters outlined by our platform. If you have any questions or concerns about the rules, please contact our support team for assistance.
  • Do we have a Traders Dashboard and can traders use it?
    Yes, you can signup even if you don't have an account!
  • Are there any restrictions on the countries from which clients can sign up on your platform?
    Every country except Syria, North Korea, Cuba, & Iran.
  • Do you all allow HFT?
    Yes, there is a $5000 cap on funded account withdrawals
  • What is our Stop Loss Rules?
    No stop loss is required on simulated demo or simulated live accounts.
  • What type of EAs are allowed?
    The most successful traders in the world all have different strategies/backgrounds, and we understand that. Although we enforce no restrictions during the evaluation stage, using the following strategies/approaches during the experienced trader stage is prohibited and will be subject to review: Latency Arbitrage Hedging Orders Across Multiple Accounts Any Use Of Delayed Data Feeds For Risk-Free Profit Copy Trading Of Another Persons Signals/System or Copy Trading Amongst Multiple Users On Our Platform Account Management By A 3rd Party We want to be as open as possible when it comes to the trading styles that you can use while undertaking the program. The strategies above are prohibited during the experienced trader stage as they either cannot be replicated into the live market (Toxic data in the event that we send your orders offshore for potential data monetization), thrives on demo conditions only, or because they are designed to game the system.
  • Are VPS or VPNs allowed on live accounts?
    Yes, absolutely.
  • Do you allow hedging trades?
    Yes, we do allow hedging positions.
  • Why do I have to upload KYC first?
    To ensure transparency and maintain the highest security standards, we require the completion of the KYC (Know Your Customer) process as the initial step. This process guarantees that once you proceed to the funded account stage, you can rest assured that there won't be any delays in processing your profit split, which will be executed on the same day. Information needed: Proof of ID: National ID, Passport, or Driver’s Licence. Proof of Address: Recent Utility Bill, Bank Statement, or any mail with your address and name provided. Selfie with your ID in hand.
  • How do I pay taxes on my profits?
    All of our traders operate as independent contractors and have the option to receive monthly profit payouts. As independent contractors, they are individually responsible for handling their own tax obligations in their respective countries. The recommended approach for managing tax matters is to consult with a local accountant in your city. This accountant can provide personalized advice and guidance tailored to your specific circumstances, ensuring that you meet your tax obligations effectively and in compliance with the regulations in your jurisdiction.
  • How do I verify my account on the dashboard?
    Account verification is a necessary step that can be completed when you purchase a challenge account. When you acquire a challenge account, you will be prompted to submit KYC (Know Your Customer) information before receiving the credentials to commence trading. Once you have submitted the necessary details through the KYC form, your account credentials will be provided to you once they are approved within the back office system.
  • Can I use a copy trading software?
    Yes, only if you are copying from your personal trading account from an account you have with us or if you own an account outside of Legacy Prop Trading.
  • What is the consistency rule?
    Traders are required to actively participate for a minimum of 5 trading days with the same consistent strategy before eligibility for each withdrawal. Meaning month 1, month 2 , month 3 ect. The account balance will be adjusted for any trades that fall outside of your designated trading range outside of the consistency range will be removed and not considered for withdrawal.. Determining Your Trading Range: Calculate your average trade size by dividing the total lot volume traded by the number of executed trades. Example: For a total of 100 lots traded and 50 trades executed, the average lot size equals 2 lots. Establish your trading range as follows: Bottom of Range = Average Lot Size x 0.25, Top of Range = Average Lot Size x 2.00. For the example given, the range would be 0.5 to 4 lots. Trades must fall within this range. Any trades outside this range will be removed at the time of withdrawal. No trade can equal more than 50% of your total end of month profit. Example: $1k withdrawal and you have one trade over $500, that trade will be removed.
  • How old do I have to be?
    Traders must be over 18 years of age to legally use our simulated trading challenges.
  • Is scalping allowed?
    Engaging in scalping trading on a live simulated account, defined as conducting very short-term trades to profit from minor price movements, is prohibited on our platform. Trades lasting 1 minute or less are considered scalp trading and are not allowed. This will be viewed as a minor violation and will not lead to the account being disqualified, but the trade will be discarded if profitable. Losses will be retained on the account.
  • How are trades calculated?
    If multiple trades are placed on the same instrument at a similar price, all of those trades will count as a singular trade.
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