It is important to take note of Nordic Funder supported and restricted countries especially for traders looking to join the prop firm. Nordic Funder is a Sweden-based proprietary trading firm that provides funding to traders that pass their evaluation. Traders are given a financed trading account to use using the firmās funds. Nordic Funder employs Scandinavian Capital Markets as its broker and allows traders to scale up their capital up to $1,000,000. This article will examine Nordic Funder supported and restricted countries.
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Nordic Funder Overview
Nordic Funder KB, the legal organization behind Nordic Funder, has been operational since November 2021. David Nudleman is the CEO. The firm is registered in Sweden. Nordic Funder provides a one-step evaluation program. They offer a maximum allocation of $400,000, with the possibility of scaling up to $1,000,000.
Challenge Details and Pricing
Nordic Funder provides a variety of challenge account types, including One-Stage, One-Stage Pro, and Two-Stage challenge.
One-Stage Challenge Pricing:
- $10,000 account: $125
- $25,000 account: $250
- $50,000 account: $425
- $100,000 account: $750
One-Step Challenge Account Features:
- Equity-based drawdown
- Copy trading allowed
- 6% Drawdown
- EA (Expert Advisor) allowed
- News trading allowed
- 10% Profit target
- 4% Daily loss
Trading Platforms and Instruments
Nordic Funder now supports MetaTrader 4 (MT4) trading. Traders can access a wide range of products, including forex, cryptocurrency, indices, and metals.
Payouts
Nordic Funder uses Rise to streamline payouts, with a 2% profit requirement for traders to initiate a withdrawal. The firm processes payments from respected Swedish and Swiss banks.
Restrictions
Nordic Funder has restrictions on trading methods and Nordic Funder restricted countries.
Nordic Funder Supported Countries
It is a proprietary trading firm that provides funding to traders who pass their assessments. It is registered in Sweden. Regarding nordic funder supported countries, it does not have a list of supported countries on its platform. It supports traders from many countries, but does not allow traders from the counties whose names are on the Nordic funder restricted countries list:
Nordic Funder Restricted Countries
Nordic Funder does not let traders from the following countries use their services:
- Afghanistan
- Belarus
- Burma
- Burundi
- Central African Republic
- Congo
- Cuba
- Guinea
- Guinea-Bissau
- Indonesia
- Iran
- Iraq
- North Korea
- Lebanon
- Libya
- Malaysia
- Mali
- Moldova
- Nicaragua
- Pakistan
- Russia
- Somalia
- Sudan
- South Sudan
- Syria
- United States
- Vanuatu
- Venezuela
- Yemen
- Zimbabwe
Prohibited Trading Strategies
Nordic Funder restricts the following trading strategies:
- High-frequency trading.
- Latency Arbitrage
- Triangular Arbitrage
- Hedging
- Hedging over many accounts
- Trade on behalf of others.
- Using A Third-Party Trading Bot
- Using copy trading or managed account services (e.g., MQL5, ZuluTrade)
Drawdown Calculation
Nordic Funder estimates daily drawdown using the Equity EOD (End of Day) balance. This means that the drawdown limit is determined at the end of the day and fluctuates depending on the traderās profit or loss at the moment.
Additional Considerations
- IP Address: While Nordic Funder does not expressly indicate an IP address rule, it is recommended that you trade from the same IP address that you used to purchase the challenge account.
- Trading charges: Nordic Funder, in collaboration with Scandinavian Capital Markets, provides trading charges of $0 per lot for all asset classes, including forex, oil, cryptocurrencies, and indices.
- Risk Management: Nordic Funder employs risk management regulations, such as banning holding investments during weekends, but offers risk upgrades for an additional cost to remove these constraints.
Conclusion
Nordic Funder offers traders in supported locations a transparent, encouraging, and lucrative environment, even though its services are not available in other countries due to compliance and regulatory concerns. Nordic Funder is still a good choice for people looking to advance their trading professions because of its adaptable programs, and dedication to trader success.
Frequently Asked Questions
Why Do Nordic Funder Restrict Certain Countries?
- Restrictions are primarily due to regulatory compliance issues and legal standards that prevent foreign financial services firms from operating within certain jurisdictions.
How Can I Verify If My Country Is Supported By Nordic Funder?
- You can check your eligibility by visiting Nordic Funder official website or reviewing their terms of service for the most current list of supported and restricted countries.
What Should I Do If My Country Is Restricted?
- If your country is on the restricted list, consider exploring other proprietary trading firms that may offer similar opportunities without geographical limitations.
