Frequently Asked Questions
The Cove Funded team is here to help you out!
About Us
Cove Funded is a Proprietary trading firm that is looking for promising traders to join our growing global trading community.
The road to becoming a full-time trader might seem unrealistic, something that only happens in a utopian world. You may find yourself asking: Do I have enough capital? Do I have what it takes to become a full-time trader? Do I want to risk my capital? Do I have the right discipline to be successful? ...
Learn about the requirements and qualifications needed to become a part of our community.
We offer our Affiliates up to 10% commission for helping us recruit the best traders. How Do I Become an Affiliate? Becoming an Affiliate with Cove Funded is a straightforward process. Just follow this simple step-by-step guide: Create or log in to your account. Navigate to the “Affiliates” tab in your trading portal. You will...
Cove Funded is all about helping our traders succeed, which is why we ensure that our platform is up to date with the best technology and tools that our traders need to succeed in our funded account challenges. TradeLocker We use TradeLocker, a state-of-the-art and innovative trading platform, with charting powered by TradingView. Designed with..
General Queries
Cove Funded does not limit the number of Funded Account Challenges that our traders can purchase, you can participate in multiple challenges at the same time, having several Active Accounts. Each trader can have a maximum combined starting equity of $200k. This means that whilst you can have a total of 33 Funded Account Challenges...
Cove Funded makes it as simple as possible to participate in our Funded Account Challenges. You just need to sign up and purchase a challenge from your respective Account Dashboard. We accept the following Payment Methods: All Major Credit/Debit Cards (Mastercard, Visa, etc.). Crypto Payments. For our Cryptocurrency Payments, once you have purchased a Cove...
At Cove Funded, we offer extremely competitive leverage across our Funded Account Challenges, in comparison to other prop firms. Below is an overview of the Leverage we have available for different assets: 1:100 – For 2 Phase Challenge 1:30 – For One Phase Challenge 1:30 – For Swing Challenge What is Trading with Leverage? Leverage...
You can reset your Trading Password for your Funded Account Challenge as follows: Log Into your Account Dashboard. Tap on the 3 Horizontal Parallel Lines at the top of your dashboard. Select the respective Challenge Account. Click the “Credentials” button. Select the “Reset Password” option. A Confirmation Pop-Up will appear. You will receive your New...
Please be aware that the usage of “Trading Robots” (BOTs) or “Expert Advisors” (EAs) is strictly prohibited on our platform.
Getting Started
The road to becoming a Cove Funded Trader could not be easier. To start, all you need to do is create a Cove Funded account by following these simple steps: Sign up on Cove Funded. Open your email inbox and find our verification email. The verification link will redirect you to our concise registration form. ...
After you have completed the sign-up process and have had a chance to explore the Cove Funded dashboard, it’s time to purchase a challenge. Our checkout process is all about speed and simplicity: with clear product detail, smart coupon functionality, and a well-designed mobile optimized interface. To purchase a funded account challenge, please follow the...
Our aim at Cove Funded is to continue to develop our seamless funding experience. Our diligence and fixation on user experience has served as our catalyst to build an account dashboard that is intuitive, and extremely straightforward for our traders to use. Our platform is powered by valuable analytic solutions and lightning-speed technology, which is...
The Challenge
Discover the steps, requirements, and criteria needed to qualify for a funded trading account. Empower yourself with insights into the journey of becoming a funded trade.
Cove Funded allows traders to have a Maximum Daily Drawdown of 5% for the 2 Phase Challenge based on their Initial Equity when starting a new Trading Day. Each day is over a 24-hour period, which starts at 5:00 PM Eastern Standard Time (EST) (Greenwich Mean Time (GMT) +3 or +4 (8:00 PM or 9:00...
When you embark on a Cove Funded Funded Account Challenge, throughout the challenge, the capital in your Cove Funded Trader Account can never, at any given time, fall below 10% for the 2 Phase Challenge. An example of the Overall Drawdown would be: If a trader has a Cove Funded Trading Account with a starting...
For our Two Phase Challenge, you must trade for a minimum of 8 days for each stage. For our One Phase Challenge, the Minimum Trading Days is 4. What Do You Consider a Trading Day? A Trading Day is defined as a day where at least one trade was executed. In cases where that trade...
Profit Targets are the benchmark requirements that our traders need to attain to reach to proceed to the next phase of our Funded Account Challenges. Cove Funded believes in setting realistic and attainable Profit Targets for our challenges. Our Profit Targets are set as follows: Profit Target 8% – Phase 1 (Evaluation Stage). Profit Target...
A huge congratulations on successfully completing Phase 2 (Verification Stage) of our Cove Funded Funded Account Challenge! In the next 48 hours, your Cove Funded Funded Account should be processed. To be granted your Funded Account, you must meet the below criteria to be eligible: Met the Profit Target of 5% in Phase 2 (Verification...
Explore our Frequently Asked Questions (FAQ) to understand whether you trade on a live or demo account.
We at Cove Funded, have designed and curated the “Consistency Rule” to ensure that our traders who embark on a Funded Account Challenge achieve consistent and sustainable profits, which appropriately mitigate risk. Our Consistency Rule states that earnings from your best day cannot exceed 60% of your total profits. This rule applies during our One...
Cove Funded strives to empower all our traders to succeed on our platform. In our Funded Account Challenges, when a requirement is violated, you will automatically be ineligible to obtain a Funded Account. We give all our traders the option to Reset their Funded Account Challenge anytime throughout Phase 1 (Evaluation Stage). How Does the...
Learn about the trading practices and activities that are not permitted on Cove Funded. Gain clarity on our stance regarding prohibited trading strategies by exploring the comprehensive details available in our FAQ section.
The Funded Account
In Phase 1 (Evaluation Stage), Phase 2 (Verification Stage), and the Funded Phase of our Cove Funded Funded Account Challenges all accounts are simulated to match actual market conditions, which means, you will be trading on Demo Accounts.
Your Funded Account Balance will be the same Account Balance that you selected when you purchased the Funded Account Challenge before Phase 1 (Evaluation Stage). To maintain your Funded Account status, as a Funded Trader, you will need to meet the following criteria: Max Daily Drawdown 5%. Max Overall Drawdown 10%. Minimum Trading Days before...
Once you have successfully passed Phase 2 (Verification Stage) of our Funded Account Challenge, before we can issue a Cove Funded Account, you will be required to complete our Verification Process, which should not take more than just a few minutes to do. How Do I Verify My Account? When you have passed Phase 2...
Navigate your journey as a funded trader with confidence by exploring the comprehensive details available in our FAQ section on funded account payouts.
