The Lux Career Trading Program – An Overview
The Lux Trading Firm Evaluation account’s objective is to assess if you can adhere to our rules for trading our live accounts. The rules are simple, and the limits are in place to protect our capital and your profits.
Please do not request exclusion from any of these rules. They are there for both our benefits.
What is the Profit Target, and What is the Profit Share?
Evaluation and Advanced stage target according to our different trading models.
At Lux Trading Firm we have three different accounts:
$200,000 – Evaluation and Advanced Acc stage–The target for this account is respectively $12,000 and $8,000.
$100,000 – Evaluation and Advanced Acc stage – The target for this account is respectively $6,000 and $4,000.
$50,000 – Evaluation and Advanced Acc stage – The target for this account is respectively $3,000 and $2,000.
$25,000 – Evaluation and Advanced Acc stage – The target for this account is respectively $1,500 and $1,000.
Once a trader successfully completes the Evaluation stage, he will receive a refund for 50% of the paid fees. He will receive another 50% once he passes the Advanced stage.
Once you have reached the Professional Acc stage, and up, the profit targets are 10% to grow to the next stage (there are no time limits to reach any of our profit targets)
We shall split the profits in a ratio of 75% to the trader and 25% to the Lux Trading Firm.
In the Professional and above stages, the trader can request a withdrawal only once per month. The transactions will be processed within 3-5 business days.
What is my maximum loss limit?
At lux Trading Firm, we believe that all traders should get a fair chance to enable them to trade and remain within their risk limit. As many of you may know, Institutional traders are risk-averse and generally make excellent trading decisions that lead to profitability and consistency.
The MAXIMUM RELATIVE DRAWDOWN is 5% on our Evaluation and Advanced stages in the Lux Career Plan Funded Trading Program.
What does relative drawdown mean?
The Maximum allowed Relative Draw Down is the highest realized account balance minus 5% and is compared to equity and balance.
The losses can never exceed the value of the Maximum Relative Drawdown specified at the start of the Evaluation.
For example, for the $100K Evaluation and Advanced Account stage, the max relative Drawdown is $5,000. If the starting account balance was $100,000, and at a later time, the trader made a profit of $2,000, bringing the max account balance to $102,000. Then the stop-out level based on the Relative Drawdown would be $102,000 – $5,100 = $96,900.
The MAXIMUM HYBRID DRAWDOWN is 4% on our Professional and Expert stages in the Lux Career Plan Funded Trading Program.
Our 4% hybrid drawdown level works like a combination of a fixed and relative drawdown.
After a trader withdraws their profits on the professional live trading stages, the account balance and maximum high are reset to the initial balance (or scaled up). This also resets the maximum drawdown level to 4% of the starting balance. So, every month you make a profit and withdraw; you also start with a new drawdown.
We implemented relative drawdown to create consistency in the risk our trades take and to ensure the safekeeping of profits already earned.
We don’t want traders to use gained profits to increase the amount of risk they can take. It really doesn’t make sense in our environment where the account size is scaled up after accumulating 10% profit anyway.
Your account will be immediately disabled when you hit your max loss allowed.
Should this happen, you can apply for a new account by paying a reset fee (fees listed at the bottom of this page), dependent on your account size, but not related to your current stage. You will go back to 2 stages in the program, that is, if you were on stage 4 you will start again on stage 2.
From stage 2 onward in career plans, and beginning at stage 1 in Elite plans, you will be assigned a personal risk manager that will help you with anything that is necessary to reach your goal/target. Your risk manager is there to advise, support, and guide you in any way that is beneficial to both of us. Therefore, you are required to follow his advice diligently. In the case of serious negligence, or poor risk management, your account might be closed at our discretion, and you will be expelled from the program.
Understanding the maximum Stop Loss Limit
As you all know, being a trader is about managing risk. One of our essential guidelines is that all traders must have a stop loss in place according to their strategy of placing an order or trading on the spot.
Every trader has to place a Stop Loss order before entering the market. Stop-loss has to be within the 4 or 5% DrawDown limit and cannot exceed the max. allowed risk capital.
Any profits or active trading days made by such trades will not be counted towards the account growth profit target.
What are the time limits and trading days criteria?
At Lux trading firm, we do not believe that a trader should really be restricted to time, as this can severely hamper the chances of profitable traders. So let us put your mind at rest by letting you know there are no maximum time limits for the Evaluation, Advanced or Professional account stages to reach any of the profit targets to continue to the next stage. (MT4 Demo accounts that are not logged into will be deleted in normal server maintenance after 90 days. To avoid this, simple log into your MT4 account once a month. Should your account be deleted because of failure to login, you will have to buy a reset and start over.)
The only major stipulation that we do have is a minimum of active trading days on the first stage of our Lux Career Trading Plan Program.
Being a trader is not about being a one-hit-wonder. It’s about finding a suitable strategy that works with consistency and one that deems profitable to you.
Lux Trading Firm Traders need to have traded a minimum of 29 Trading Days on the Evaluation Account, Further stages (2 and up) do not require a minimum amount of trading days.
However, an exception applies to swing traders. If a trader keeps a trade open for a longer period with an average of at least two days, then a minimum of 15 trading days is required for Evaluation Account stage. (Our definition of a swing trader is a trader who does not take more than one trade at a time and takes a new trade after closing his last position. Also, this swing trader does not take more than two trades per week, and his trades are always longer than 48 hours on average)
Lux Trading Firm defines a trading day as the day the funded trader opens a new trade on a new day. For example, if the funded trader opens GBP-USD trade on Tuesday and closes the same trade on Wednesday, this counts as 1 trading day. The active trading day that counts is the day GBP-USD has opened and not the full duration of the trade.
Active trading days are Monday until Friday, weekends and holidays excluded.
The Evaluation Account stage’s minimum is to track the trader over a period of 29 active days. The minimum active trading days are there to keep the trader on the same track to not rush to the next profit targets. We will not accept significant differences in risk size, or trading style to fulfill the active trades or trading days. If we do see a big difference to only fulfill these active trades or trading days, we will not count these days as active, and then you will still need to fulfill these days before continuing to the next stage.
Here are 2 examples of traders who have reached their profit target with high risk in a fast period and then change their trading style, lot size, and risk management to complete the remaining active trading days (these days will not be counted as active trading days). Therefore, we advise reducing your lot size and risk management from the beginning since you have no time limit to reach your profit target
List of securities permitted to trade
The Lux Career Trading Program allows you to trade any symbol on our trading platforms that our current broker Global Prime offers, limited to Forex, Indices, Debt, and Commodities, using any trading style.
The Lux Career Trading Plan
At lux, unlike many proprietary trading firms, we want our traders to grow as they trade consistently, with proficiency, and profitability. Lux Trading Firm is more than willing to support our traders in their growth, hence the reason we developed The Lux Career Trading Plan.
Once you have completed your evaluation account, Lux Trading Firm will fund the advanced account with the same amount as the evaluation account size.
Once the advanced account stage has been completed (when you reach the 4% profit target), Lux Trading Firm will fund a live account (professional) with the same amount as your advanced account.
All professional 25k, 50k, 100k, or 200k Acc stages up to the Fund Manager $10Mill stage:
Every time the funded trader generates a trading profit equivalent to 10%, Lux Trading Firm will double the account size (25k, 50k, 100k, 200k, 500k, 1 million, 2,5 million, and finally, to $10 million.
Trading Strategy allowed
Evaluation, Advanced, and the Professional 25k, 50k, 100k, or 200k Accounts have the leverage of 1:10 on Forex and 1:5 on Indices and Commodities (Metals).
All trading styles/strategies based on one type of asset class like FX, Indices, or Commodities (Metals) are welcomed; self-developed EAs, news trading, and holding trades over the weekend are allowed as long there is consistency in risk size per trade during the entire stage. You can choose risk % per trade, as long you use the same trading style and same risk % per trade (or total concurrent risk if you have multiple positions open at the same time) in the complete evaluation stages. (In case of too large an inconsistency in risk, you will have to redo the stage partially or entirely.) A trader can trade only one trading strategy per account. We do not allow traders to trade multiple trading strategies on one account, since that would not be acceptable for an audited track record, and most investors.
We allow EAs that are created by the trader (trader’s intellectual property). EAs that are developed by a third party, are prohibited since this does not show the individual trading skills of the trader. If this EA is no longer available to the trader/public, for whatever reason, the trader will be unable to update, upgrade or make changes to it for the better. One can use a third-party EA as a tool to support your strategy without a trade execution option. Always make sure the EA places a stop with the order; together with the order, not afterward (modify order) as our risk management will close the trade immediately!!!
Lux Trading Firm prohibits duplicating trades and orders by using a copy trading service offered by any one provider.
Lux Trading Firm allows traders with a self-developed strategy to use the Lux trading platform as the Master account and copy the trades to other (Slave) accounts that belong to the trader or his/her company. It is prohibited to copy your trades to any other than your own trading account(s). Our algorithms will recognize when trades are duplicated to different trading accounts with us and will close them automatically. All the parties involved will be expelled from the program and no refund or reset will be possible.
You can have one account per asset class (Forex, Indices, Commodities) – meaning a maximum of 3 accounts in total. Each of these accounts has to go through the evaluation stage & can scale up all the way to the fund manager level.
Trading the accounts of friends, family, or any other relationship managed by you at Lux, using the same strategy is prohibited. All the parties involved will be expelled from the program and no refund or reset will be possible.
In the evaluation demo account, you are only allowed to trade a system or strategy, either traded manually or automated, which will also work on real money live accounts, and is accepted by our A-book broker and their liquidity providers. Examples of systems that are not allowed include, but are not limited to:
- Any system that is based on the guaranteed stops of demo accounts. This includes using minimal SL, which would not work on a live account. 10 pips should be considered the minimum on a USD-based forex trade. 10 pips on a USD-based forex trade of 1 lot is equal to 100$ risk. For other asset classes, you should take an equivalent stop to 100$ risk per lot. For example, this would equate to a stop of 100 index points in US indices, and 1$ on gold. Remember that non USD-based instruments have their SL value expressed in the prevailing currency, and you should adjust your stop accordingly to have a minimum of 100$. For example, if you trade an EUR-based instrument like e.g., one of the European indices, and the EUR to USD exchange rate is 1.1, your minimum stop would be 91 index points, equivalent to 91€, equivalent to 100$. You are allowed to manually exit with less than 10 pips loss, of course.
- Any system based on luck, or with its origins in gambling, like Martingale, going long and short just before a mayor news update, going “All-In”.
- Any system using giant stops, which, when hit, will make it realistically impossible to come back from this loss. And yes, that is “when hit”, not “if hit”.
- Any system that was originally devised to work without the placement of a Stop Loss, then adapted to our requirements to use Stop Loss by using full or near-full max risk.
- Any system based on “negative outcome” of the original trade, like averaging down, or Martingale.
- Any system with a risk management that would not be accepted by your future Lux risk desk and risk manager, which use internationally accepted risks management standards.
Our terms and conditions for withdrawals
We hope you have taken the time to read all the above terms. This is the most anticipated stage for all traders, so we would like to give you clear guidelines on our withdrawal policy.
The Profit Payment Process:
Once a trader successfully completes the Evaluation account, he can withdraw a refund of 50% of paid fees, After completing the Advanced account, he can withdraw the other 50%.
Traders can only take their 75% profit split of the professional and expert account stages if there is a net profit.
All professional and expert trading accounts can receive their profits payments within the first week of the new month.
What is the withdrawal process?
1) Fill in the form on the profit-split page in your trader dashboard at the end of the month requesting the withdrawal and shall process your request within 3-5 business days.
2) Fill in all correct details on the form, and the exact funds of your profit split of the month are on the top of the form.
3) The withdrawal request will not influence the 10% profit target to grow in The Lux Career Trading Plan.
4) Once you have made your withdrawal, it’s back to your trading account, and begins to aim for your next target on The Lux Career Trading Plan.
The Fee Structure
Lux Trading Firm asks for an enrollment fee. The fee covers the use of all our unique applications, such as MT4, Trading View, and Trader Evolution platforms, Trader dashboard with all your metrics, and Account analysis by a professional risk management desk.
Every new trader who signs up after 10-10-2021 that passes the Evaluation (Demo) Account stage will receive a 50% refund of their enrollment fee (excluding any reset fees or for elite packages). The other 50% will be paid out after completing the Advanced stage.
Even though we have no other cost than the enrollment fee, if you pass the Max 4% Draw-down Limit, you’ll need to reset your trading account to continue being eligible for funding. The reset prices are listed below, your account will be reset to its starting balance regardless of your account balance at the time of the breach.
The Enrollment Fee Refund Policy
The moment the trader has paid the enrollment fee and Lux Trading Firm has sent the email with login details of their evaluation account, from that moment, there will be no more refund possible.
Practical Assessment Reset Fee
You should only reset your account under the following conditions:
You have been advised that you have breached the 4 or 5% Maximum Drawdown.
You voluntarily wish to reset your account for whatever reason.
When you reset your account, you will be provided with another fresh trading account, and you will be sent your new account log in details for your selected trading platform. You will have to pay
- 25k account: reset fee 89GBP
- 50k account: reset fee 179GBP
- 100k account: reset fee 269GBP
- 200k account: reset fee 359GBP
