How Do I Become a Cove Funded Trader?

Cove Funded we do our utmost to ensure that our traders are given the opportunity to trade under optimal conditions, without having to focus on unreasonable time constraints, or unrealistic targets that are exceedingly difficult to attain. 

We have structured our evaluation in a manner that simplifies the journey to becoming a Funded Trader. We care about our traders, protecting them from minor errors, and creating a trading environment that allows them to potentially become professionals in risk management. 

One Phase Challenge

Our One Phase Challenge  is a single-phase Funded Account Challenge, where in the single phase of the Challenge, you will trade on a Demo Account.  We have set the following criteria that you need to successfully meet in this phase to become a Funded Trader: 

  • Profit target of 10%. 
  • Daily Drawdown of 3%. 
  • Minimum Trading Days: 4. 

When you have successfully completed our One Phase Challenge your performance as a trader will be evaluated by our team to selected as a Funded Trader, where you will trade on a Funded Account. 

Two Phase Challenge 

Phase 1: Evaluation Stage  

In the first phase of our Funded Account Challenge, you will trade with a Demo Account, In this preliminary stage, we have set the requirements to begin the assessment of our traders. To pass this stage, traders much meet the following criteria: 

  • 8% Profit Target. 
  • 5% Maximum Daily Drawdown. 
  • 10% Maximum Overall Drawdown. 
  • Minimum of 8 Trading Days. 

When you have successfully completed our Evaluation Stage (Phase 1), you will proceed to Phase 2, the Verification Stage. 

Phase 2: Verification Stage

In the second stage of the Funded Account Challenge, you will prove your ability as a trader to build profit. Once you have passed the Evaluation Stage, you will receive New Credentials to log in to your new Demo Account for the second phase. In this stage, you will need to meet the below requirements: 

  • 5% Profit Target. 
  • 5% Maximum Daily Drawdown. 
  • 10% Maximum Overall Drawdown. 
  • Minimum of 8 Trading Days. 
  • The Consistency Rule applies: 60%. 

For this Challenge, we do not have a minimum number of trading days, provided you meet all our other challenge criteria, you will be eligible to successfully pass our two-phase Funded Account Challenge! 

Once you have passed our Verification Stage, our team will meticulously assess your performance, and you will then become a fully-fledged Cove Funded Funded Trader. 

Funded Trader Stage 

When you become a Funded Trader, you will trade on a Funded Account. We do require all Funded Traders to complete our Verification Process, where we will ask you to provide: 

  • Proof of Identification (Passport, ID Card, Driving License, etc.). 

The agreement and conclusion of the funded account contract will depend on the completion and approval of the Cove Funded identification process. Once you have been approved, you will be able to trade on the funded account (proportionate to the initially selected capital at the beginning of the Funded Account Challenge) and you will earn a generous profit share up to 90/10 after your third payout! 

Do I get a Certificate for Completing the Funded Account Challenge? 

Yes! Once you have accomplished our Funded Account Challenge, we will email you a Certificate of Completion, which you are free to share with anyone!