Q&A

HFT (high frequency trading) trading is prohibited.

The daily drawdown is based on equity from the server. Total drawdown on initial capital. Example.

A trader has an account of EUR 300,000
During the first trading day, he can risk a maximum of 5.5% (daily drawdown). 

Day 1 - the trader has earned EUR 10 000
His balance is EUR 310 000

Day 2 - the daily drawdown is: 310 000 x 5.5% = EUR 17 050
Total drawdown is: 300 000 x 11% = EUR 33 000

The trader cannot risk more than EUR 17 050.

Day 3 The trader has lost EUR 15,000.
His balance is EUR 295 000. He has not reached the daily loss limit (calculated on the basis of the previous day EUR 310 000 x 5.5% = EUR 17 050)

Day 4. The trader starts with a balance of EUR 295 000
Daily drawdown: EUR 295 000 x 5.5% = EUR 16 225 - this is how much he can risk today
Total drawdown EUR 300 000 x 11% = EUR 33 000 (267 000 to which he can fall).

Counting the daily drawdown on an equity basis helps traders protect their profits from excessive risk.

For all accounts except Jalapeno, accounts are scaled every two months - as long as they are profitable. The trader must generate 10% profit in two months. Profitable months must occur in a row. 

Example 1 - we scale
June +8%
July +3% 

Example 2 - no scaling
June +10%
July -1.5%

Example 3 - we scale
June -5%
July +4%
August +6%

In the hot seat programme the capital increases by 50% of the balance, in the other programmes except Jalapeno the capital increases by 40%. In the Jalapeno programme the account is duplicated (balance x2) after every 10% profit.

The trader does not bear any risk associated with trading on simulated and demo challenge accounts. 

Profit withdrawals are made by the trader from the personal office. The first withdrawal can be made after 14 days from the start of trading on the signal provider account.

The trader is not liable for losses. The trader assumes no risk. Spiceprop is fully responsible for the losses incurred on the accounts. 

Unfortunately no. But you can pay on your behalf from your company.

The tax settlement is the responsibility of the trader. Due to the different geographical areas of our operation and the nature of the relationship with the trader (it is not an employment contract or similar civil law contracts), the obligation to settle taxes on profits in signal provider accounts lies with the trader.

The refund - after successfully completing a two-stage challenge - is made by the trader himself in the form of making the first profit withdrawal from the signal provider account. Until the withdrawal, the funds are credited to the account and can be traded.

You only get a refund for completing a two-stage challenge - including a Crypto pepper and a Hot-Seat. One Step Challenges and No Step Challenge (instant simulated account) are not eligible for any refund of the registration fee.
 

A challenge refund can be ordered by the trader with the first payment. Until then, the funds appear within the signal provider account.

Yes, as mentioned above you are welcome to use any of 3 methods you like.

We have three payment method right now: Credit card payment (Stripe), Bank transfer and Crypto. All terms will be mention if client taps for certain payment method.

We are making the MT4 platform available to our traders in IOS and Windows versions. In addition, you can use the platform on your phone and in the web version on your browser.

You can use your own indicators and robots as long as they comply with our risk and account rules. Note: SpiceProp may ask you to send the source code to verify the algorythm.

You cannot:
- copying other traders' trades;
- scalping ticks*;
- delay arbitrage transactions;
- reverse arbitrage transactions;
- hedging arbitrage transactions;
- use emulators.

Allowed:
- averaging (martingale);
- hedging.

*The company reserves the right to recognize the trading strategy used by the trader as scalping ticks if the following signs are present in it: a) the trader opens from 10 to several hundred positions within one day and closes them before the end of the general trading session of the market; b) the trader holds a larger position for a minimum period of time until a minimum price increase is achieved; c) the trader uses this strategy repeatedly, so it is not a one-off action.

Inactivity in the account means no active or new transactions for 14 days. The 14 days also include weekends. After 14 days of inactivity, SpiceProp deactivates the account. Your 14 days of inactivity are counted from the first transaction undertaken.

If there was a profit in the closed account due to inactivity, a distribution and withdrawal is automatically made. However, such an account cannot be reactivated.

The trading account is owned by SpiceProp. SpiceProp is solely responsible for its operation and performance. 

Currencies, indices, stocks, metals, commodities and cryptocurrencies are available in our programmes. Remember that each programme has an appropriate leverage that will affect the buying potential (buying power) of each of these assets.

The trader himself must take care of the risk in the challenge account and the simulated account (including in no step programmes). We believe that our traders are responsible. If you reach a daily loss your account will be automatically closed. The daily loss is calculated based on the previous day's closed balance (00:00) server time.

SpiceProp use as a broker RHC Investments (Metadoro), a company incorporated and registered under the laws of Mauritius, with company number 138336 C1/GBL, having its address at 3 EMERALD HOUSE, TRIANON, QUATRE BORNES, 72257, Mauritius. The Company is authorised and regulated by the Financial Services Authority in Mauritius (“FSA”) under license number C11501538

The programme fee is the fee charged to the trader for participating in the programme. It covers our administrative costs for providing challenge accounts.

SpiceProp brand and trademark is belongs to SpiceProp s.r.o. 158 00, Czech Republic, Praha, Bucharova 2657/12, Stodůlky.

No, we do not require any licences from our traders.

In order to avoid possible actions by regulatory bodies, even if trading is not taking place, you will not be able to register end customers from the following countries: USA, North Korea, Eritrea, Iran, Iraq, Liberia, Libya, Somalia, Sudan, Syria, Japan, Canada and Puerto Rico.

SpiceProp is registered on the territory of the European Union, works in accordance with the norms of legislation in force in the country of presence. Spice Prop is not a financial institution. The company's activities are not currently subject to licensing or special permission.

At the demo account trading level - at the challenge we do not require full verification. On signal provider accounts, we sign a special agreement between us and the trader whereby we require verification of the trader's identity.

Within 24 hours, you will receive your MT4 account logins and password by email. You can download the platform by logging into your trader dashboard.

KYC must be completed for the contract. We only sign the contract after you have successfully completed the challenges and started trading on the singal provider account. When buying a challenge you do not need to complete the KYC. After passing the evaluation process, we will ask you to:

a) Proof of Identity. You can use the following documents:
- Driver's license;
- Passport;
- Government ID;
- Permanent residence permit.
b) Proof of Address. Examples of documents that are accepted:
- Utility bills such as Landline Telephone Bills, Gas bill;
- Proof of residence issued by a Notary public or a Government Authority;
- Bank Account Statement;
- Identity card or document with an address that is issued by a Central or State Government.

After two profitable months in a row:
- capital is scaled up by 50% (in the classic programme by 40%);
- profit distribution is 90% for the trader (in the classic 80%);
- payouts possible every 7 days (in the classic programme 14 days);
- maximum level of scaling up to 2 million (in the classical programme to 1 million).
Only one account per hot seat trader is possible.

SpiceProp takes care to select the best suppliers. Our spread starts from 0 (zero).