Funded Trader Program Agreement
Version 1.0-2026-06 · Koda Markets (ABN 25 857 946 219)
1. Nature of the Program — Please Read Carefully
The Program is a skill-evaluation service. It is not an offer of employment, partnership, investment, brokerage account, or a financial product, and does not constitute personal financial advice. During the Evaluation (Phase 1 and Phase 2), all trading is conducted on a simulated / demo environment using virtual funds and live or delayed market data — you are not trading real capital and hold no rights to any simulated balances, virtual profits, or positions. Upon being awarded a Funded Account you trade a Company-provided account under the strict conditions of this Agreement; unless expressly stated in writing, funded activity may also be conducted in a Company-managed / simulated environment, and the Company, at its sole discretion, determines whether and how it mirrors, hedges, or executes any order in live markets. You never own, deposit into, or have any proprietary claim over the Company's capital. You are entitled only to a performance-based payout as defined in Section 7, and only if all conditions are met.
2. Eligibility
You must be at least 18 years of age and of full legal capacity. You must not be a resident of, or located in, any jurisdiction where the Program is prohibited, nor appear on any sanctions, terrorism, or watch list. You must complete all identity verification (KYC) and anti-money-laundering (AML/CTF) checks we require, at any time, as a condition of participation and payout. You are solely responsible for determining that participation is lawful for you and for all tax consequences arising from it. One person may hold only the number of accounts we permit; multiple, duplicate, or coordinated accounts to circumvent the rules are prohibited.
3. Fees
The Program fee is a one-off fee equal to 1.5% of the selected funded-capital tier (tiers: $5,000, $10,000, $20,000, $50,000, $250,000, $500,000, $1,000,000), payable in advance. All fees are strictly non-refundable — including where you fail the Evaluation, breach any rule, withdraw, are terminated, or the Program is discontinued — except where a refund is required by non-excludable law. Fees do not represent a deposit, are not held on trust for you, and earn no interest for you. You are responsible for all payment-processing, currency-conversion, chargeback, and bank fees. Initiating a chargeback or payment dispute is a material breach and will result in immediate termination and forfeiture.
4. The Two-Phase Evaluation
Phase 1 (Challenge): achieve a profit of at least 8% of the starting balance. Phase 2 (Verification): achieve a profit of at least 5% of the starting balance. In each phase you must, at all times, comply with all of the following or the account is failed: (a) Maximum Daily Loss of 5% of the starting balance (measured on realized + unrealized equity within the trading day, per our methodology); (b) Maximum Overall Loss / Total Drawdown of 10% of the starting balance; (c) a minimum of 5 trading days of genuine trading activity; (d) maximum leverage of 500:1, and all instrument, spread, swap, and margin rules in force. Breaching any loss limit at any moment — even intraday, even by fractions — immediately and permanently fails the account. There are no warnings and no grace. We calculate all metrics using our systems and methodology, which are final and binding; server time and our recorded prices govern. Passing Phase 1 advances you to Phase 2; passing Phase 2 makes you eligible for a Funded Account, subject to our final review and KYC/AML clearance.
5. Funded Account Rules
The same 5% daily and 10% overall drawdown limits, 500:1 maximum leverage, minimum-activity, and all instrument rules continue to apply to the Funded Account. Breaching any limit permanently terminates the Funded Account and forfeits any unpaid, unrealized, or accrued profit and any future payout entitlement. We may set, vary, or remove position limits, instrument availability, news-trading restrictions, and scaling rules at any time.
6. Prohibited Conduct
The following are strictly prohibited and will result in immediate failure/termination, forfeiture of all profits and fees, and possible legal action: (a) exploiting errors, latency, price-feed gaps, or software bugs; (b) any form of arbitrage, hedging across accounts, group/coordinated trading, or copy-trading designed to game the evaluation; (c) 'all-in', martingale, gambling, or any strategy that does not reflect genuine, repeatable risk management; (d) use of bots, EAs, or third parties without our prior written consent; (e) trading on non-public / insider information or any market abuse or manipulation; (f) account sharing, transfer, or sale; (g) providing false information or circumventing KYC/AML; (h) fraud, chargebacks, or use of third-party/stolen payment methods. We may, at our sole discretion, void trades, fail accounts, and withhold payouts where we reasonably believe conduct violates this Section or the spirit of the Program.
7. Profit Split & Payouts
On a valid Funded Account you are entitled to 80% of net realized profit, and the Company retains 20% (the 'Profit Split'). Payouts are calculated on net realized profit after all spreads, commissions, swaps, fees, and adjustments, and only on profit that remains after the account is fully compliant. Payouts are processed on a monthly cycle via bank transfer or cryptocurrency, subject to a minimum payout threshold and a verification review as published by us from time to time, and to successful KYC/AML clearance. Payout entitlements are forfeited upon any rule breach, termination for cause, or detected prohibited conduct. You are solely responsible for all taxes on any payout, and we may withhold amounts where required by law.
8. KYC / AML / Compliance
Participation, funding, and payouts are conditional on satisfactory identity verification and source-of-funds checks. We may suspend, delay, or terminate participation and freeze payouts to comply with legal, regulatory, sanctions, or AML/CTF obligations, without liability to you.
9. Term, Suspension & Termination
We may suspend or terminate your participation, and/or discontinue the Program, at any time, with or without cause, and without refund except as required by non-excludable law. Rule breaches result in immediate termination as set out above. Provisions that by their nature should survive (fees, forfeiture, liability, indemnity, disputes, governing law) survive termination.
10. Intellectual Property & Confidentiality
All Program materials, platforms, data, and methodologies are our property. You receive a limited, revocable, non-transferable licence to use them solely for the Program. You must keep our rules, metrics methodology, and non-public materials confidential.
11. Disclaimers & Assumption of Risk
The Program and platform are provided 'as is' and 'as available', without warranties of any kind to the fullest extent permitted by law. Trading involves substantial risk. Past or simulated performance is not indicative of future results, and no result is guaranteed. We are not liable for market events, force majeure, connectivity, data-feed, execution, or platform interruptions.
12. Limitation of Liability & Indemnity
To the maximum extent permitted by law, our total aggregate liability to you for any and all claims is limited to the amount of the Program fee you actually paid for the relevant account. We are not liable for any indirect, incidental, special, consequential, or loss-of-profit damages. You indemnify us against all claims, losses, and costs arising from your breach of this Agreement, your conduct, or your violation of law. Nothing in this Agreement excludes rights or guarantees that cannot be excluded under applicable law (including, in Australia, the Australian Consumer Law).
13. Changes to the Agreement and Rules
We may amend this Agreement, the fees, and the Program rules at any time by posting an updated version. Continued participation constitutes acceptance. It is your responsibility to review the current version.
14. Governing Law & Disputes
This Agreement is governed by the laws of Australia. The Program is offered to eligible participants worldwide except where prohibited by local law, and you are responsible for ensuring your participation is lawful in your jurisdiction. You submit to the exclusive jurisdiction of the courts of Australia in respect of any dispute arising out of or in connection with this Agreement.
15. General
If any provision is unenforceable, the rest remains in effect. No waiver is implied by delay. You may not assign this Agreement; we may. This Agreement is the entire agreement between us regarding the Program.
Acknowledgement
By ticking "I have read and agree to the Funded Trader Program Agreement" and/or completing payment, you confirm you have read, understood, and agree to be bound by this Agreement, that all trading during the Evaluation is simulated, that fees are non-refundable, and that all metrics and decisions by Koda Markets are final and binding.