City Traders Imperium Review

Item: City Traders Imperium Review
Rating: 3.875
Author: FundedTrading

City Traders Imperium is a proprietary trading firm headquartered in London that provides funding opportunities to profitable traders.

Account size up to:
$ 4,000,000
City Traders Imperium Account
*Get a 5% discount if you use our special code ctidiscount5%

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City Traders Imperium encourages its traders to achieve financial freedom, no matter their background or where they come from.

by FundedTrading

1 year ago 0

Pros

Good scaling
Straightforward rules
Allows news trading and weekend holding
Offers Instant Funding Accounts
Very long evaluation time for some accounts

Cons

5% Drawdown on Classic, Standard, and Direct Funding Accounts
Payment only using credit/debit card
Lack of assets to trade

City Traders Imperium Review

City Traders Imperium is a proprietary trading firm headquartered in London that provides funding opportunities to profitable traders. Daniel Martin and Martin Najat, both of whom had previously worked as head traders, established the company. It is now widely recognized as one of the top prop firms for novice traders looking for an accessible learning environment and low entry costs, all because of the City Traders Imperium-funded program it offers.

In this review, we’ll take a look at City Traders Imperium, a London-based prop firm with a good reputation.

About City Traders Imperium

Martin and Daniel made the unexpected observation in 2018 that the majority of the prop firms in London were more concerned with recruiting sales employees to sell courses than with training individuals to become actual traders who were responsible for their own money. Their plan to establish a worldwide prop trading company that would have an online trading floor filled with paid traders began with this initial step.

Funding in the range of $20,000 to $70,000 is available for forex traders through City Traders Imperium. You may use whatever trading strategy you choose with this platform. This makes it appropriate for a wide range of traders, including retail traders, swing traders, professional portfolio managers, day traders, and more. Those with funded accounts can also enjoy the leverage of up to 1:33 trading Forex, Gold, and Indices.

Funding Program Options

There are three distinct funded trading options available through City Traders Imperium. Each one comes with its own set of advantages, and customers may select the one that works best for the way they trade.

Day Trading Funding Program

This is a funding program aimed toward short-term traders with a high-risk tolerance. With this arrangement, they hope that routinely profitable traders will feel incentivized to remain with City Traders Imperium for the long haul and contribute to its continued success through their 100% profit share.

Time Limit

There is a 45 days + 45 days time limit on the Day Trading Funding Program. The maximum amount of time that can be spent on the first two phases is 45 days total; this includes both the Assessment Phase I and the Qualification Phase II.

If all of the prerequisites are satisfied before the end of each phase, the Challenge Trader does not have to wait the full period of the phase before moving on to the subsequent step.

In the event that one or more of the prerequisites are not met by the time that each Phase comes to a close, the account will be terminated automatically. On the City Traders Imperium Funded Trader Phase III platform, there is no maximum time limit.

With minimum trading days, the Minimum Number of Active Trading Days Required for Assessment Phase I is 10 Days, and Qualification Phase II also requires 10 Trading Days.

The Active Trading Days do not correspond to calendar days.

A day in which a trader establishes a fresh position on a new day is considered to be an active trading day. For the sake of illustration, if a trader establishes a position in EURUSD on Monday and then closes the same position on Thursday, this will count as one Active Trading Day. The Active Trading Day that counts is the day that EURUSD was opened for trading; the total duration of the trade is irrelevant; what matters is the day the trade was initiated. ‎

Profit Target

The Profit Target for the Assessment Phase is 10% of the beginning balance, while the Profit Target for the Qualification Phase is 5% of the initial balance.

After closing all positions and outstanding orders, the total amount of profit that is qualified for inclusion in the Profit Target is calculated.

In order to examine the account at the conclusion of each phase, it is necessary for all Market and Pending Orders to be terminated after the Profit Target has been reached.

Maximum Daily & Absolute Drawdown

On any given day, the Maximum Loss must not be greater than the amount of 4% of the beginning account balance (Initial Account Balance multiplied by 4%). If it is, then that day’s loss will be considered unacceptable.

The maximum daily drawdown takes into account any spreads, swaps, and fees that may have occurred. Every day at 22:00 GMT, the maximum daily drawdown is reset to zero.

For any given day, the maximum absolute drawdown is 10% of the starting amount of overall Phases. No matter how bad things go, you can never lose more than 10% of your starting balance.

Profit Split

In the event of successful funding, the initial profit split will be 70% of the first 10% of net profit. As soon as you reach a 10% Net Profit, you must close any open positions, and your account will be checked for any infractions. From that point forward, the profit share will be increased to 80%.

When you qualify for the Growth Plan, your profit split will be increased to 90% for Tier 1 and 100% for Tier 2.

Account Scaling

For Tier 1, if you achieve the requirements listed below, they will increase your account by 30% of its initial amount and share 90% of your future profits. All you have to do is earn at least 10% in 4 consecutive months (an average of 2.5% each month) while turning a profit in 2 of those 4 months. In addition, you need to have made at least two 80% Profit Split withdrawals during that time frame.

At the end of the 4th month, your account balance must be positive. One cycle is every 4 months, with the first cycle beginning on account creation.

Tier 2, will offer you 100% of the Net Profit after scaling up your account three times (Repeat Tier 1 three times).

Standard Funding Program

Everyone who desires easy and uncomplicated financing with nearly no rules that impede performance is a good candidate for their Standard Funding Program.

Time Limit

In order to provide sufficient time for the Evaluation Trader to consider a variety of trading methods, the Evaluation Phase can last for up to six months.

Suppose after a period of 6 months the Evaluation Trader has not yet attained the set profit target. In that case, City Traders Imperium will close the funded account, and the Evaluation Trader will no longer be eligible for evaluation.

During the Evaluation Phase, the Evaluation Trader is required to have at least 30 Active Trading Days in order to meet the requirements for trading days.

Stop Loss

For any and all open trades, as well as any and all pending limit orders, stop orders, and/or market orders, the Evaluation Trader is required to have a Stop Loss order set as quickly as possible. Every market order, pending order, and stop order that the Evaluation Trader places must have a maximum stop loss of 1.5% of the initial account balance. Closing a transaction without first setting a Stop Loss is against their risk management policy.

‎Absolute Drawdown

A 5% absolute drawdown (fixed loss) from the initial balance is the maximum loss that can occur for the Evaluation Trader.

Classic Funding Program

You have up to a year to satisfy the assessment requirements in order to qualify for the Classic Funding Program, which grants you this generous time limit. Once you meet the requirements, they will increase the amount of capital in your account by 400%.

Time Limit

The Evaluation Trader may enter the Evaluation Phase for up to one year in order to accommodate diverse trading strategies, particularly long-term ones.

If one year has elapsed and the Evaluation Trader has not yet met the profit target, then City Traders Imperium will terminate the funded account, and the Evaluation Trader will be disqualified.

During the entirety of the Evaluation Phase, the Evaluation Trader must have a minimum of 30 days in which they actively trade. ‎

Stop Loss

Each and every limit order, stop order, and/or market order that is pending and each and every open trade must have a Stop Loss made as quickly as possible by the Evaluation Trader. Every market order, pending order, or stop order made by the Evaluating Trader must have a Max Stop Loss of 1.5% of the Opening Account Balance.

In accordance with their risk management policies, any trades concluded without a Stop Loss will be regarded as a violation.

Each open position on the same currency pair by the funded trader may have a risk of up to 1.5% of the opening account amount. This means the trader may open several trades with a risk of only 1.5% each. ‎

Max Relative Drawdown

During the Evaluation Phase, the maximum loss that can occur is a 5% relative drawdown. The maximum difference between the Highest Account Realized Balance and the Lowest Account Balance and/or Equity Value $ (including floating profit/loss) is the Relative Drawdown.

Fees

Costs associated with participating in the various funding programs offered by City Traders Imperium vary. The costs associated with each of the potential funding program choices are detailed below.