FUNDING TERMS & CONDITIONS

By Signing up to the LucidFX's Funded Trader Program, you will be agreeing to all of our Terms and Conditions of funding.
What is LucidFX?

The LucidFX funded program LLC is a subsidiary of LucidFX. It is registered in the United States.

• LucidFX is NOT authorised or regulated by the Financial Conduct Authority. It does NOT
undertake any regulated activities, and it operates in compliance with the FCA guidelines.

• LucidFX is not a financial institution of any kind. It's NOT a broker, and it does NOT
market for any brokerage services.

• LucidFX does NOT invest clients’ money or trade it on the financial markets. All funding
is provided by the company's own, and its directors, capital.

• LucidFX provides a practical educational evaluation in its Funded Trader Program to
traders from any nationality giving an opportunity for enhancing their risk management and trading
psychology and compounding profits in its Funded Trader Program.

The trading capital

LucidFX supplies its traders with its trading capital to trade during the Funded Trader Program.
The funded trader will not be liable for any trading losses that may incur during the Evaluation or the Portfolio Manager Phases of the Funded Trader Program.

• The funded trader is required to act responsibly while trading with LucidFX Funding Program and throughout the whole duration of the Funded Trader Program to avoid any severe losses on the funded account.
• The funded trader must apply the required measures to enforce the risk management policies specified by LucidFX Funding Program.
• The funded trader must not give access to the funded account to any 3rd parties. Doing so will terminate the activity of the trader.
• If the funded trader believes the account credentials have been lost or stolen, the trader must report to LucidFX Funding Program via email immediately – fundedprogram@lucidfx.co

Who can trade the funded accounts?

• Anyone who is above 18 years.
• Traders from any nationality from Europe, North America, South America, Africa, Asia, Australia, & New
Zealand.
• The funded accounts are available for individual traders and companies to trade the LucidFX Funding Program’s capital during
both the Evaluation and Portfolio Manager Phases.
• ID as proof of identity. This is to prove that the trader is the only one trading the funded account.
• The Funded Trader Program is not designed for large organisations, a group of individuals, or copy traders.

Who is involved in this agreement?

1. LucidFX (The Company)
LucidFX Funding Program is the company providing the funding to its student and traders.
2. You (The Student/Funded Trader)
By signing up to LucidFX Funding program’s Funded Trader Program as a Funded Trader, you are agreeing on the terms and
conditions of funding as presented on its website. You will have 2 roles you progress:
• The Evaluation Trader is a funded trader who is pursuing the evaluation on a live funded account to qualify for the Portfolio Manager (PM) once the trader meets the full funding requirements.
• The Portfolio Manager (PM) is a funded trader who has achieved the initial evaluation requirements and is trading a fully funded account.

The evaluation fee structure & Refund Policy

• LucidFX charges only a one-time fee to cover the trading costs and/or losses the funded
trader may incur during the evaluation phase of the Funded Trader Program.
• LucidFX Funding Program does not charge any monthly or recurring fees throughout the whole Funded Trader Program.

Refund Policy
•LucidFX Funding Program does NOT refund any sign-up fee once the funded account has been issued to the funded trader.
• Once the funded trader started trading the evaluation funded account, the trader cannot upgrade to a larger funded account, nor downgrade to a smaller funded account.

The trading platform & compatibility

• LucidFX provides the trading platform MT4 to its funded traders.
• The funded trader will have full control of the trading platform.
• LucidFX Funding Program will not interfere with any funded trades unless the trader is not complying with the risk management
policies.
• LucidFX Funding Program provides MT4 platform on Windows OS only. Any trader with a Mac IOS can install the MT4 using an
assistant software, such as Parallel, or Play on Mac. The trader can also use FxPro MT4 for Mac platform
as a medium to trade with LucidFX’s funded account.

The evaluation Phase

The Evaluation Phase is the first stage of the Funded Trader Program, where it is provided for the practical
part of their educational journey to become a Portfolio Manager at LucidFX Funding Program. In this stage, the trader must show a consistently profitable trading performance for the period of the evaluation specified by the LucidFX Funding Program while meeting all the risk management policies.

The portfolio manager (PM) phases

The Portfolio Manager Phase (PM) is the phase where the funded trader has met all the trading requirements
and passed the Evaluation Phase. During this phase, the funded trader will be fully qualified, and LucidFX Funding Program will contract the trader to trade the LucidFX Funding Program's own capital.

The risk management policies

• LucidFX requires each funded trader to manage their positions according to the risk management policies and trading guidelines specified on the website.
• LucidFX will observe the trading activity of its funded traders and warn them for any violations of the risk
management policies.
• If the funded trader doesn’t comply with the risk policies, LucidFX Funding Program has the right to terminate the traders’ account and exclude them from the Funded Trader Program.
• However, the funded trader can always apply again for the Funding Trader Program if they wish to comply
with the risk policies during their new evaluation.

the funded trader program restraints

LucidFX prohibits the following:
• LucidFX prohibits trading the Funded Trader Program in coordination with other active traders.
• LucidFX Funding Program prohibits using the name of another trader on 1 or more accounts.
• LucidFX Funding Program prohibits duplicating trades and orders by using a copy trading service offered by LucidFX Funding Program or any other provider. However, a trader can copy from his other personal accounts into LucidFX Funding Program account.
• If the funded trader has more than one account with LucidFX Funding Program, the trader cannot hedge among accounts.
Each account will be treated individually.
• LucidFX Funding Program allows the trader to open as many evaluations as possible; however, it prohibits the trader having more than 1 Portfolio Manager Account.

Termination of the funding trader program

The termination of the Funding Trader Program can occur due to the trader inability to adhere to the risk
policies for both the Evaluation and/or The Portfolio Manager phases.

The termination of the Funded Trader Program may occur for any of the below reasons:

• Reaching the maximum relative drawdown $ value.
• The violation of any of the Risk Management Policy Guidelines.
• The expiration of the Evaluation of the funded account.
• The misuse or abuse of the program.
• The use of the Funded Trader Program for any other purpose than the authenticity of the individual
trading. At all times, LucidFX have the right to terminate the evaluation as it sees fit to its funding
requirements and willingness to risk its own capital on the trader at its own discretion. In such rare cases,
where LucidFX Funding Program decides to terminate the evaluation for reason other than the presented above, LucidFX Funding Program will issue a full refund of the sign-up fee to the evaluation trader.

the termination notice

At the event of a termination, the following measures will take effect:

• LucidFX will send an official notice of termination will to the trader.
• LucidFX Funding Program will disable the trading permission in funded account.
• LucidFX Funding Program will freeze access for the funded account and platforms provided to the funded trader.
• LucidFX Funding Program will send a full detailed trading report to the funded trader by email upon request.
• If the funded trader is in net profit $, LucidFX Funding Program will calculate the total net profits $ made on the funded account and pays the funded trader the specified portion during the same calendar month.

applying again after termination

The trader can sign up again for the LucidFX Funding Program’s Funded Trader Program regardless of the number of past terminations, as long as the trader complies with the policies upon the most recent application.
Nevertheless, LucidFX Funding Program has the right to refuse to re-sign up at its discretion.

How to reach us

• Email is the official medium of communication between the funded trader and LucidFX.
• LucidFX Funding Program will communicate with the funded trader in real-time and to the best of its abilities to provide fast and reliable service to its clients.
• The funded traders must provide a valid email while enrolled in the Funded Trader Program to allow
real-time communications with LucidFX Funding Program’s staff.
• LucidFX Funding Program has the right to either freeze or terminates the funded account had the funded trader failed to respond to the company’s emails.• LucidFX Funding Program provides backup media of communication represented in the following: Facebook, Instagram, on-site contact forms, and phone calls.• The funded trader must notify the LucidFX Funding Program of any changes in the trader’s email address.

misunderstandings errors

Subject to the terms 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 the discovery of an inadvertent error or omission by either party hereto, appropriate adjustments shall be made as soon as possibly practicable 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. LucidFX reserves the rights for future changes of these Terms and Conditions, upon notifications via an official email address given from the trader. The trader will be committed to the changes, or will officially be asked to resign from the program.

By signing up to the evaluation for the funded trader program of LucidFX, I hereby confirm and fully understand that my trading performance may also be affected by various conditions, as such:
Flexible spreads

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. However, the spreads we use are very competitive, and it is usually 0.3 pips for EURUSD on average.

market gaps

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.

the trading commision

The fixed commission is $9 per round lot traded.

stop / Limit pending orders

LucidFX does not guarantee the execution of the limit and stop orders at the best price during abnormal, unexpected high impact events, or very volatile periods. However, the limit and stop orders will be executed at the next best available prices in the order books. Ordering at specifically requested price is not guaranteed for limit or stop orders during abnormal and volatile periods – the price will be filled at the next best price according to the exchange order book.

overnight rollover spread conditions

At the end of each day, between 10 PM & midnight London’s time, the banks move vast amounts of orders from the current day to the following day. 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.

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