what are the requirements to get a free funded forex account in india

Getting a free funded Forex account in India involves meeting certain requirements, typically set by the trading firm or prop firm offering the funded account. The general process is the same regardless of location, but there may be some specific regional considerations for Indian traders. Here’s a breakdown of the typical requirements and steps involved: 1. Choose a Forex Prop Firm Offering Funded Accounts Many forex prop firms offer free funded accounts, but not all are accessible globally or to traders in India. Some well-known platforms that offer these accounts include: FTMO My Forex Funds The 5%ers WinProFX Before signing up, ensure the firm you choose accepts traders from India. 2. Eligibility Criteria Each firm has its own set of eligibility criteria, but most have common requirements: Age: You must be at least 18 years old. Location: The firm must support traders from India (most reputable ones do, but always confirm). Experience Level: Many firms don’t have specific requirements for experience, but you should be comfortable with trading strategies, technical and fundamental analysis, and risk management. Some platforms may require a minimum amount of demo trading experience. 3. Evaluation Process (Challenge) To get a free funded forex account, you typically need to complete an evaluation or challenge to demonstrate your trading skills. While some firms offer a free challenge, others may have a small fee to enter the evaluation phase. Profit Target: The firm will set a profit target that you need to reach during the evaluation (e.g., 10% or 20% profit). Risk Limits: Firms typically have strict drawdown limits (e.g., 5% daily drawdown, 10% maximum drawdown). Exceeding these limits can cause you to lose the challenge. Trading Rules: You must follow specific rules, such as maintaining a minimum number of trading days or avoiding risky, high-leverage positions. Some firms may offer free trials or allow you to participate in challenges with no upfront cost, but these free evaluations are limited and often come with specific terms. 4. Submitting Documents for Verification Before getting access to a funded account, you may need to verify your identity and financial details. Common documents for verification include: Government-issued ID (Aadhar card, passport, voter ID) Proof of address (Utility bills, bank statements) Selfie or video verification (In some cases) 5. Trading Platform Requirements You will be required to trade on specific platforms, with MetaTrader 4 (MT4) and MetaTrader 5 (MT5) being the most common ones used by forex prop firms. Make sure you have a stable internet connection and a computer or mobile device that can run the trading platform. 6. Understanding the Profit Split & Fees When you pass the challenge and get access to the funded account, the firm will typically have a profit-sharing structure. For example: Profit Split: The firm may take a portion of the profits you generate (e.g., 50/50 or 75/25 split in favor of the trader). The exact percentage will vary depending on the firm. Withdrawal Fees: Some firms charge withdrawal fees or limit how frequently you can withdraw profits. Be sure to check the terms before signing up. 7. Continuous Performance Monitoring Once you're trading with a funded account, your trading performance is monitored. You need to continue to adhere to risk management rules, such as: Avoid exceeding drawdown limits Maintain a consistent profit and loss ratio Follow the firm’s trading guidelines Failure to adhere to these rules may result in the account being revoked. 8. Availability of Educational Resources Many funded account programs provide educational resources to help you succeed. Some offer training videos, webinars, or mentorship programs to guide you. If you're new to Forex trading or need extra help, these resources can be valuable. Summary of Requirements to Get a Free Funded Forex Account in India: Choose a reliable prop firm that offers free evaluation or funded accounts (e.g., FTMO, My Forex Funds, WinProFX). Meet basic eligibility: Be at least 18 years old and ensure the firm accepts traders from India. Pass the evaluation/challenge: Trade a demo or real account and meet profit targets while adhering to risk management rules. Verify your identity: Submit required documents like a government-issued ID and proof of address. Understand the profit split and trading rules: Know the profit-sharing percentage and withdrawal conditions. Follow risk management: Avoid exceeding drawdown limits, and ensure you maintain consistent profits to keep the funded account. Contact us Address - 1st Floor, The Sotheby Building, Rodney Bay, Gros-Islet, SAINT Lucia P.O Box 838, Castries, Saint Lucia Phone no - +97144471894 Website - https://winprofx.com/