At Purdia Capital, we understand that experienced traders don't want to waste time trading through a lengthy evaluation process, only to see the profits earned in that account wiped out when moving to a funded account. That's why we created the Instant Funded Account, giving traders immediate access to a funded account where the profits are maintained. Skip the evaluation and start trading with real potential right away!
Sim Funded Account
Traders will pay a one-time fee for all Instant Funded Accounts. Immediately after completing the payment, traders will be given access to a Sim Funded Account (SFA), which uses live data but places simulated orders. The SFA utilizes an End of Day (EOD) trailing max drawdown and has no Daily Loss Limit by default.
In the SFA, traders must meet a set of benchmarks before moving to the Live Funded Account and qualifying for a payout. Each Instant Funded Account option displays the specifics of that account size, but the common requirements are a minimum profit threshold, minimum trading days (10), and minimum profitable days (5).
Please note that traders may not take any payouts while in the Simulated Funded Account.
Live Funded Account
Once a trader meets the requirements in the SFA, they will be moved to a Live Funded Account (LFA), along with the profits earned in the SFA, capped at the amount of the profit target. Excess profits above the profit target in the Sim Funded Account will not be moved to the Live Funded Account nor eligible for withdrawal.
The LFA is a genuine brokerage account, funded with real capital and trading the live markets. Traders will be required to complete some identification paperwork (part of the Know Your Customer "KYC" requirements of our broker) and must complete an onboarding call with their assigned risk manager. Once in the LFA, traders can begin taking payouts every day, including on Day 1.
Risk parameters work a bit differently in the Live Funded Account. Because the LFA starts out already profitable, the max drawdown does not trail and is static at breakeven +$100. This means that, in a typical 100k Instant Funding Account, the LFA will start with a balance of $3,000 and a minimum balance of $100, leaving an available drawdown of $2,900. Any losses or payouts come out of these profits, and if the balance crosses the minimum balance threshold of $100, the account will be closed. Any profits earned will add to this available drawdown.
All Live Funded Accounts will have a Daily Loss Limit, set in cooperation between the trader and their risk manager. This amount can vary, and is depending on both the size of the account and the trading style, but in no case will the DLL be permitted to be larger than one-third (33%) of the available balance of the account. We do this to protect our live traders, and to ensure that they cannot blow their entire account in just one day. When hit, the DLL will lock the account for the rest of the trading day. Traders are free to continue trading the next day, provided they have not reached the minimum balance threshold.
Because we use genuine brokerage accounts for our live traders, our broker limits traders to one funded account at a time. We allow traders to scale up in their funded account according to the scaling plan. All risk parameters in the LFA, including max position size and daily loss limit, can be increased as traders grow their account. Any changes to risk parameters must be discussed with your assigned risk manager, and any changes to risk parameters in the Live Funded Account are at the sole discretion of Purdia Capital.
Payouts
Once in the Live Funded Account, traders can being taking payouts every day, including on Day 1. No payouts will be allowed while in the Sim Funded Account. To request a payout, traders can use the tool on their Purdia Trader Dashboard, which will show the trader their profit split. The profit split for all Instant Funded Account options can be found on the main Instant Funded page. All payout requests are processed within 24 hours, meaning that traders can take payouts every day (assuming there are still profits in the account).
We currently handle all payouts through direct bank transfer, domestic and international.
When a payout is requested, the minimum balance threshold in the LFA is increased by the amount of the payout, so the the account balance properly reflects the balance as if the payout has already been taken out. We do this so that traders can continue to trade in their account even after requesting a payout. Once the amount is removed from the trader's account, the minimum balance threshold will reset back to $100 and remain there. Please be mindful of your account balance and how any payouts will affect your account balance and ability to trade.
