Frequently Asked Questions
Becoming a funded trader is a straightforward process. Follow the below steps in order to register and become our next funded trader.
Within a few minutes to a couple of hours depending on your payment choice, you will receive your account credentials in a welcome email and will be able to access the trading platform as well as the dashboard. Payments via Coinbase Commerce orders have to be confirmed on the blockchain before the order gets completed.
You can purchase your challenge using Cryptocurrencies or Credit cards
Eightcap MT4 and MT5 trading platforms
Congratulations on completing your payment! You are now ready to access your challenge account details.
Phase 1
We process new challenge (Phase 1) accounts within 5 minutes of you completing your payment, and you will receive your details shortly.
If you have not received your Phase 1 account details, please make sure to check your spam or promotional folders for the message. If your purchase is confirmed and you still have not received your account details, please contact our support team via live chat or email.
Phase 2
Our Phase 2 accounts, however, take 36 – 48 business hours to get completed. This is because an automated review is completed within that time frame to ensure that there were no violations made on the account.
We hope this article was helpful in understanding the processing times of our Phase 1 and Phase 2 accounts. Thank you for choosing our services, and please do not hesitate to reach out to us with any further questions.
This how you can set up your trading platform:
Desktop:
In order to login into the trading platform, you need to download the Eightcap trading platform by accessing the link https://www.eightcap.com/en/platforms/metatrader-4/download/ https://www.eightcap.com/en/platforms/metatrader-5/download/
Once the platform is downloaded, please follow these steps to log in to your account:
Step 1: Go to the top right corner of the platform
Step 2: Click on the tab “File”
Step 3: Click on the option “Login into Trade Account”
Step 4: Once a window appears, please add your “Account number and password. Choose the server address and click “Login”
Please note these details have been sent to you in a previous email
Now you have successfully logged in to your trading account
Mobile Device:
In order to login into the trading platform, you need to download the Eightcap trading platform through your App Store or Play Store,
Once you have downloaded it on to your mobile device, please follow these steps to log in to your account:
Step 1: Click on the option “Login to an existing account”
Step 2: Search the server name (It has been sent to you in a previous email with your login details)
Step 3: Add you login details (Account number and Password) and click “Sign in”
Now you have successfully logged in to your trading account
Forex, Metals, Indices, Crypto, Oil
Getting Funded With Rocket21
Know Your Customer (KYC) and Sign Your Trader Agreement.
Are you looking to become a funded trader with Rocket21? To get started, you first need to complete both evaluation stages. Once evaluated, you’ll need to take two action items: verify your identity through the Know Your Customer (KYC) process and sign your Trader Agreement.
Step 1. Verifying Your Identity (KYC)
Check your email after passing Phase 2 of evaluations to verify your identity. You will receive instructions on how to complete KYC.
Step 2. Sign Your Trader Agreement
After your identity is successfully verified, you can proceed to sign your contract on your trader dahsboard, by clicking the “Trader Contract” option
Enablement Schedule
Agreements are sent out daily, and after signing the agreement, you can expect to receive your simulated funded account to be enabled on a daily basis.
Getting Updates On Your Verification Status
If you would like an update on when your simulated funded account will be sent out, please contact our live support chat. Please remember, that you will need to submit this information before you start trading on your account again.
All challenges officially begin once you place your first trade. For example, you can place your first trade 29 days after purchasing your challenge, which will begin your challenge.
All trading history is recorded (cancelled, pending, executed, etc). The trading period starts to count when the first trade transaction is placed, not on the first trade executed in the market. That is independent of the type of the order.
Whether the trade is activated or not, once an order is placed, the trading time starts to count.
Note: If your account is inactive for more than 30 days it will be considered inactive
Passing your challenge
In order to advance through each phase of the challenge, you need to reach a certain simulated profit target and trade a minimum of 5 simulated days on the respective phase.
What are the profit targets for each phase?
Phase 1 – 8% Unlimited days
Phase 2 – 5% Unlimited days
Once you become a funded trader with our firm you will no longer need to meet any simulated profit targets or minimum simulated trading days.
In order to pass phase 1 of your challenge, you will need to meet the below conditions:
Make 8% of the initial virtual balance
Traded a minimum of 5 simulated days
Not violated either the virtual daily or virtual max drawdown rule
If the above conditions are met, you will be able to advance to Phase 2 of the challenge. In this phase there is no set time in which you must meet your goals, so you can take as much time as you think you need to achieve them.
In order to pass phase 2 of your challenge, you will need to meet the below conditions:
Make 5% of the initial virtual balance
Traded a minimum of 5 simulated days
Not violated either the virtual daily or virtual max drawdown rule
The period for meeting the objectives of phase 2 is unlimited. As in phase 1, in the second phase there is no set time in which you must meet your objectives, so you can take as much time as you think necessary to achieve them.
Any violation of the rules above will result in the termination of your trading account and you will not be eligible to move forward in the program with that account. Traders are more than welcome to start over by joining the program with a new trading account.
Virtual Maximum Daily Loss | 5%
You will have an allowed virtual maximum daily loss (drawdown) of 5%. This is calculated based on the initial virtual balance.To illustrate, for a virtual funds account with $100,000, the daily drawdown limit is consistently $5,000. This amount is subtracted from the daily starting virtual balance or simulated equity (whichever is higher) at the commencement of a new day, around 5 PM EST.
In the computation of drawdown, all floating simulated losses and profits are factored in. The maximum daily drawdown resets each day at approximately 5 PM EST, typically within a range of plus or minus 3 minutes.
For instance, if your balance is $100,000.00 virtual funds at 5 PM EST, your virtual daily drawdown limit would be $5,000.00. This implies that your account’s simulated equity should not fall below $95,000.00.
Virtual Max Overall Drawdown | 10%
The maximum virtual total drawdown is 10%. Therefore, the simulated equity of the account must not fall below 90% of the initial demo account balance both for open and closed positions, including simulated commissions and simulated swaps.
For example, if you have an initial virtual balance of $100,000.00 virtual funds, your virtual Max Overall Drawdown limit would be $10,000.00. Meaning that your account’s simulated equity would not be allowed to go below $90,000.00.
How To Receive Your Payout for R21
Traders with Simulated Funded Accounts who are eligible for payouts should submit an invoice by going to their Dashboard > Profit Share, in order for their payout to be processed.
Eligibility for Withdrawal
Please note that traders must be eligible for withdrawal in order to submit a withdrawal request. Payouts are reviewed and approved within 3 business days.
Once you request a payout, your simulated account will be enabled almost immediately, allowing you to continue placing simulated trades without any delay. Should you find that your account isn’t enabled within a few minutes after making a payout request, please don’t hesitate to contact our support team.
Cryptocurrency Payouts
R21 offers cryptocurrency payouts to all simulated funded traders. This means that you can receive your profits in Bitcoin (BTC), USDT
Important Notes
Please ensure that you provide us with the correct crypto wallet ID. If you provide us with the wrong address, we will not be able to recover the funds.
Please use your own unique crypto wallet for payouts. No two traders should have the same crypto wallet, as this will result in the rejection of their requests.
Benefits of Using R21 Crypto Payouts
There are several benefits to using R21 crypto payouts, including:
Fast and secure: Cryptocurrency payouts are processed quickly and securely.
Low fees: R21 charges low fees for crypto payouts.
Global reach: Cryptocurrencies are accepted worldwide, so you can quickly receive your payouts from anywhere in the world where we allow payouts.
For a trader to be eligible for payouts, identity verification is a requisite step. This involves the submission of a government-issued identification document, such as a driver’s license or passport. Lastly, traders are obligated to submit a signed ‘Funded Trader Agreement’. It is only upon the successful completion of these steps that they qualify for potential payouts.
All trading history is recorded (cancelled, pending, executed, etc). The trading period starts to count when the first trade transaction is placed, not on the first trade executed in the market. That is independent of the type of the order.
Eightcap MT4 and MT5
Forex $7 Metals $3 Indices / Crypto / Oil $0
The following documents are required to verify your KYC:
ID Verification:
• Provide a clear, coloured, and legible photo of a valid passport or driving license.
• Capture both sides of the document, ensuring all edges are visible.
Note: Scanned IDs, blurry photos, and expired documents are not accepted by our system.
Likeness Check:
• Include a selfie image for likeness verification
To upload your documents, follow these steps using your Trader Dashboard:
Step 1: Access your Trader Dashboard.
Step 2: Click on “”KYC Verification””
Step 3: Begin uploading your documents.”
Overview
Our Two Step Challenge offers two account options: Regular and Swing, which are designed to cater to your specific trading preferences. This article explores the key differences between these options.
News Trading
Regular Accounts (Phase I and Phase II): Trading allowed during high-impact news events with specific restrictions for Funded Accounts (refer to the provided article for details).
Swing Accounts: Trades can be kept open during high-impact fundamental releases during all phases.
Weekend Holding
Regular Accounts: All trades must be closed before market closure on Friday at 4:00pm EST; holding positions over the weekend is not permitted.
Swing Accounts: Allowed to hold trades over the weekend.
Leverage
Regular Accounts (Forex Instruments): 1:100 Leverage.
Swing Accounts (Forex Instruments): 1:30 Leverage. Leverage for other instruments can be checked in the linked article.
Your Guide to the R21 Revival FeatureWhere can I find more information?
If you have any further questions about the new inactivity rules, please don’t hesitate to contact our support team through our live chat or at [email protected]
Since there are numerous ways to hedge a trading account, the term “”hedging”” might be construed differently by different transactions.
However, we DO NOT permit the following hedging approach out of simplicity 👇
🚫 No hedging between two accounts:
You cannot open trades that are exactly opposite one another on different accounts. Taking the example of opening one lot of purchase EURUSD position in one account and one lot of simultaneous sell order in the other account
The following types of hedging are permitted 👇
✅ Trading safe havens:
Financial instruments known as “”safe-haven assets”” have a tendency to gain in value or even hold their value during recessionary periods. Gold is one example of an asset that may be classified as both a safe haven and a hedge
✅ Pair trading allowed:
A hedging approach called pairs trading involves taking two positions. One on an asset whose price is rising, the other on an asset whose price is falling. Because one trade automatically reduces the risk of the other investment, pair trading produces an immediate hedge.
Overview
Expert Advisors (EA’s) are strictly prohibited in 2-Phase challenges (Regular and Swing), both in the initial and subsequent phases. The use of algorithms is also prohibited for competition accounts and will result in an automatic failure or violation of the user’s account.
These restrictions apply to all Competition and Standard accounts (Regular and Swing).
However, there is an exception for Apollo 11 accounts, where the use of Expert Advisors is allowed in both their test phase and simulated funded account. For more information regarding Apollo 11 accounts and the use of Expert Advisors click here.
In summary, the use of EA’s and algorithms is prohibited in 2-Phase challenges and competition accounts, except in Apollo 11 accounts, where the use of Expert Advisors is allowed.
Our Apollo 11 single-phase evaluation offers you the opportunity to qualify for a payout in just 14 days after receiving the Rocket21 Funded Account, providing access to up to $600,000 in virtual capital. Additionally, by proving your consistency, you can scale your account to $2 million! Enhance Your Apollo 11 Challenge With Add-Ons
Starting from January 29th, 2024, participants in the Apollo 11 Challenge have the option to enhance their experience with various add-ons, offering additional advantages.
Add-ons include:
Weekly Payouts: Participants can receive payouts on a weekly basis, occurring every 7 days.
Expanded Drawdown Limits: The option to increase both Daily and Maximum Drawdown limits by 1%, leading to a 4% Daily Drawdown and a 7% Maximum Drawdown, applicable both during the challenge and the funded phase.
Increased Payout percentage: In the Funded Stage, participants are entitled to keep 90% of the profits they generate.
These add-ons can be selected individually or in combination, according to your preference.
Withdrawals
Once Funded, you are eligible to keep 80% of the simulated profits you make. You will be able to request your first payout 14 days after your first trade on the Simulated Funded Account. Afterward, you will be able to request payouts also on a bi-weekly basis (every 14 days).
The time you have to complete the Evaluation Phase is unlimited, so you can wait for the right setups without having to rush. The only requirement is that you must trade for 3 days. After that, you can move to the funding stage as soon as you meet the conditions and targets.
On the simulated Funded Phase, there are no time requirements.
In both, the Evaluation and Simulated Funded Stages, you will have a Virtual Relative Max Drawdown of 6% of the starting account virtual balance.
During both the Evaluation and Simulated Funded Phases, traders are expected to follow a virtual maximum daily loss (drawdown) limit of 3% based on their previous day’s ending virtual balance or simulated equity (whichever is higher). This limit will be recalculated daily at 5:00 pm EST, taking into consideration the higher value between the trader’s ending day virtual balance and simulated equity.
On the Evaluation Phase, you will have only one stage to pass, in which you must generate 9% simulated profit of the Starting Demo Account Virtual Balance.
You have to generate this simulated profit without violating any of the Risk Rules or Terms of Service to successfully complete the evaluation.
Evaluation Phase
Forex 1:30
Gold and Commodities 1:10
Indices 1:5
Crypto 1:1*
Funded Phase
Forex 1:30
Gold and Commodities 1:10
Indices 1:5
As this challenge has an unlimited time to hit the simulated profit goal, you won’t be able to request a retry. You can take as much time as you need to pass, as long as you do not violate any of the Drawdown rules or our Terms of Service.
During the Evaluation Phase of the challenge and on your Simulated Funded Account, you are allowed to use EA’s.
Please ensure that your Expert Advisor complies with our Terms of Service and does not violate our Prohibited Strategies.
Our trader’s dashboard is an essential tool to help you keep track of your challenge in real-time. It offers you full visibility into important aspects of your challenge, such as:
To access the dashboard, simply use the given URL below and explore what it has to offer.
Dashboard URL: https://portal.rocket21challenge.com/
We hope you enjoy using the trader’s dashboard to track your progress in real-time and stay up to date on your challenge. For more information or if you have any questions, please feel free to contact us.
Logging into Rocket21 Trader’s Dashboard
Welcome to the Rocket21 Trader’s Dashboard! This guide will explain everything you need to know in order to access the Rocket21 Trader’s Dashboard.
In order to log into the trader’s dashboard you must have an active account or have previously purchased a challenge with Rocket21
Dashboard Credentials
Your dashboard username is your email address and your dashboard password is the one that you set up when you were buying your challenge
Access the Dashboard
To access the Rocket21 Trader’s Dashboard, use the URL provided. Please note that this URL is unique and is only for accessing the Rocket21 Trader’s Dashboard: https://portal.rocket21challenge.com/
We hope that this guide has explained everything you need to know in order to access the Rocket21 Trader’s Dashboard. If you have any additional questions, please don’t hesitate to contact us.