NexGen IFA Plan: Your Track to Funded Trading
Welcome to NexGen’s Instant Funded Accounts (IFA) Plan
Are you ready to dive straight into funded trading without lengthy evaluation periods? The NexGen IFA Plan is designed for traders who want to hit the ground running. Let’s explore what this exciting opportunity offers you.
What is the IFA Plan?
The Instant Funded Accounts (IFA) plan is your express route to trading with a funded account. It’s designed for traders who are confident in their skills and ready to prove themselves in a simulated environment that can quickly transition to live trading.
Your Journey with IFA
- Instant Access: Start trading immediately in a simulated account
- Prove Your Consistency: Demonstrate your trading skills and risk management
- Quick Transition: Move to a live funded account once you meet the criteria
Key Features of the Plan
- No Evaluation Tests: Jump straight into trading without lengthy audition periods
- One-Time Fee: Pay once and focus on your trading, with no monthly fees
- Regular Payouts: Eligible for payouts every 10 trading days (plan-specific)
- Flexible Trading: DCA is allowed, but must be managed responsibly
- Simulated to Live: Start in a simulated environment and transition to live based on performance
Important Things to Remember
- Comply with NexGen’s Code of Conduct and USTT policies
- Manage your risk carefully, especially when using DCA
- Meet specific requirements for trade frequency and consistency
- Complete KYC verification to be eligible for payouts
- You can only have one active user account at a time
Tax Considerations
- US Citizens: W-9 form required for payouts over $600/year
- Non-US Citizens: W-8 BEN form and ID proof needed
Ready to Start Your Funded Trading Journey?
This overview gives you a snapshot of what the NexGen IFA Plan offers. For complete details on rules, requirements, and progression criteria, please refer to the detailed IFA Plan Rules document. It contains all the specific information you’ll need to navigate the program successfully.
Remember, your success in this program depends on your skills, discipline, and adherence to the rules. We’re excited to see you demonstrate your trading prowess and join our team of funded traders. Good luck on your IFA journey!
NexGen Instant Funded Accounts (IFA) Rules
1. Overarching Policy Framework
1.1 General Rules
- These IFA-specific rules are supplementary to the complete NexGen policy and do not replace the broader Code of Conduct and Ultra Short Term Trading (USTT) policy.
- Traders must read, understand, and adhere to the NexGen Code of Conduct and USTT policy, which serve as the primary governing documents for all trading activities.
- The IFA-specific rules are to be followed in conjunction with the overarching NexGen policies.
- In the case of any conflict or ambiguity between these IFA-specific rules and the broader NexGen policies, the Code of Conduct and USTT policy take precedence.
- Traders are responsible for ensuring compliance with all aspects of NexGen’s policies, including the Code of Conduct, USTT policy, and IFA-specific rules.
2. Account Structure and Fees
2.1 Immediate Funding
IFA plans offer immediate funding without the need for evaluation tests.
2.2 Fees and Account Sizes
A one-time signup fee is required for IFA accounts, with no monthly fees.
Available account sizes include $25k, $50k, and $100k.
2.3 Account Limits
Traders may hold up to three IFA plans simultaneously and may mix account sizes.
IFA accounts can coexist with ATL accounts under the same user, but only one active User Account is permitted per trader.
IFA plans are limited to the stated number per household or address as specified by NexGen on the website. Exceeding the household limit will result in the ineligibility for trading or payouts.
3. Consistency and Profit Targets
3.1 Consistency Rules
The primary objective is to maintain trading consistency, which is measured over 10-day trading periods.
A 20% consistency rule applies, meaning that no single day’s profit should exceed 20% of the total profit for the entire period. Profit splits for achieving 20% consistency or less is 90/10 split.
3.2 Buffer for First Payout
For the $25k and $50k plans, traders can continue trading if they exceed the 20% consistency to bring their consistency down, or opt for a 25% buffer for the first payout with a 50/50 split.
3.3 Profit Goals
There are no specific minimum or maximum daily profit targets; the focus is on overall consistency.
4. Maximum Loss Limit (MLL) and Account Balance
4.1 Maximum Allowable Balance (MAB)
The initial Maximum Allowable Balance (MAB) is set at 5% below the starting account balance.
4.2 End-of-Day (EOD) Trailing Stop
The MLL adjusts daily until it reaches the starting balance of the account, after which it stops trailing and remains fixed at that level.
If the account balance drops below the MLL, the trading plan is automatically closed, and further trading under that plan is prohibited.
Example for a $50,000 IFA Account:
- Day 0 (Start): Starting balance: $50,000, MAB: $47,500 (5% below starting balance).
- Day 1: Account closes at $51,500, MLL adjusts to $49,000 (Profit of $1,500 increased MAB by $1,500)
- Day 2: Account closes at $53,000, MLL adjusts to $50,000 (starting balance), and the MLL stops trailing.
- Day 3: Account drops to $51,200, MLL remains at $50,000.
- Day 4: Account drops to $50,100, MLL remains at $50,000, trading continues as balance is above MLL.
4.3 Daily Soft Stop (non-violating Daily Loss Limit)
All IFA plans have a mandatory Daily Soft Stop (DSS). This is a requirement in Live brokerage account thus it is required in a simulated IFA. Each account size has a different value that will pause trading for the day if that lost is met. DSS is a static value based off an accounts start-of-day balance. If a DSS is reached, you will not be able to place trades until the following day (6pm EST).
- 25k = $500
- 50k = $1000
- 100k = $1750
5. Payout Structure
5.1 Payout Frequency
Payouts are available every 10 trading days.
Subsequent payouts do not require surpassing the previous payout balance; only adherence to the consistency rule and maintaining an account balance above the MAB are required.
5.2 Minimum Profit Requirement
Traders must achieve a minimum profit on at least 5 days within the payout period:
- $25k plan: $100 minimum profit per day.
- $50k plan: $200 minimum profit per day.
- $100k plan: $300 minimum profit per day.
5.3 Withdrawal Limits
Maximum withdrawal limits per payout period:
- $25k plan: $1,250
- $50k plan: $2,000
- $100k plan: $3,000
