Terms & Conditions
PROGRAM MISSION AND DEFINITION
Next Gain Capital operates an Online Funding and Growth Trading Program, operated by Next Gain Capital LTD, incorporated in the State of Israel.
Next Gain Capital provides fully funded forex trading accounts with a lucrative growth scheme.
Under a 3rd party contract, Next Gain Capital recruits traders to work for the company, on the company’s platform and using the company’s assets and funds.
Next Gain Capital is not a broker, not associated with any broker, and does not serve financial trading services of any type.
Next Gain Capital does not invest client’s capital in the financial markets. All funding of clients’ accounts is sourced by the owner’s own capital.
Next Gain Capital is a brand name, operated by Next Gain Capital LTD, 516417193 and is a privately owned Legal Corporation, performing a Nostro-investment operation. It does not operate as a Financial Institution of any type, nor is it a Broker, nor a Broker Marketing platform, and does not accept Investor’s capital.
Next Gain Capital is aware of the regulatory requirements in the US, and it operates by a restrictive legal advisory to fully fulfill the US law and regulatory requirements. The full document will be provided to any official enforcement organization of the US authorities by official and authorized requests to email@example.com.
PARTICIPANTS IN THIS AGREEMENT
The Fund – is the alias name for Next Gain Capital.
The Program – refers to the various program options, with their full requirements, goals, objectives, restrictions, and variables.
Trader – is to describe an individual that was offered a position on Next Gain Capital trading team.
Signing up for the program begins with a limited capital trading account, fully funded and provided by the fund. The fund sets objectives, which the trader agrees to trade by, under the fund’s sole authority to enforce the trading objective, and who possesses all rights over the trading accounts, the capital, and the trading guidelines.
Trading objectives – prior to providing access to its trading capital, the fund, and the trader agree on the full of the trading guidelines, objectives, terms, and rules. The fund defines and enforces the objectives upon values agreed.
Sign up Fee – Participating in the fund’s funding program has a fee cost involved. The fee amount is $1250 and can be modified by the fund at any time.
- The signup fee is not a trading capital deposit.
- The signup fee includes our in-house training and support package.
- The signup fee is non-refundable, in partial or in full, once the trading activity has commenced by the trader.
Traders are allowed to perform using any trading strategy, as long as it complies with the Risk Management Guidelines required by the Fund.
Upgrading or downgrading a plan: once the program has commenced, the trader cannot upgrade or downgrade the current plan.
PROGRAM CONDITIONS AND REQUIREMENTS
Knowledge and Skill
The trader must acknowledge having sufficient trading knowledge, experience, and skills to perform under the program requirements. The trader must fully understand the full scope of the program, the implications of the program requirements, restrictions, guidelines, and find the program sufficient to his needs.
The program is conducted on a forex trading platform only. The trader must fully understand the unique characteristics of the forex market. Specifically, with regards to trading, the trader must fully familiarize his/herself with the following terms and implications of the following terms: Market Hours, Economic Releases, Flexible Spreads, Commission, Execution slippage, variable spread condition, Overnight Rollover Swaps, Overnight rollover volatility, Pip, Point Value, Lot, Stop Loss, Take Profit, Market Order, Stop Order, Limit Order, Ask, Bid, Drawdown.
The Fund provides trading on the trading platform, with full authority to perform trading during market hours. At this time, the Fund provides for the use of Windows Operating system, Mac iOS by a non-official & non-supported technical workaround, mobile access for Android and iOS, MQL scripting using Desktop Platform Version Only.
The Fund may change its suppliers and systems to any other solution and technology, at any time.
The program, from the very beginning period and throughout the progression, is conducted with capital that is owned and supplied by the Fund.
Protecting Trading Capital
No matter which level the trader is at in the program, it is required for him/her to act responsibly. This also includes operating responsibly under risk management guidelines, protecting and securing the trading access credentials for trading accounts, not providing access to any 3rd party or person for the accounts, immediately report to the Fund’s Support Team about loss or theft of trading access, respond to email communications from the Fund, and take the required measures if asked by the Fund.
The program is designed to cater all trading strategies.
It is NOT prohibited to perform under the fund’s platform any trading method which uses exploitation of price discrepancies within different markets of similar or identical assets, also known as Arbitrage trading.
It is NOT prohibited to perform High-frequency trading strategies in which the majority of the trades duration span is measured by few seconds or less.
TERMS OF THE PROGRAM
By joining the program, the trader is receiving a $10,000 funded account. The trader is expected to demonstrate a profitable trading performance.
A Funded Trader is certified to trade on behalf of and with the trading capital of Next Gain Capital’s Fund under a non-employee 3rd party contractor relationship.
Ideal Risk Management Discipline
Next Gain Capital encourage its traders to perform his/hers trading with a level of risk management discipline.
The Fund’s regulation of payout is due to the profitable performance of the traders and the traders request for profit withdrawals.
This is the end of the participation of a trader on the program.
The program is available to individuals only. They must be from the age of 18 years and older, and of all nationalities.
Individually Private Only
The program is designed for individual traders only. An individual trader who signs up is the only person who is allowed to trade on behalf of the fund.
Proof of Authenticity
An authentic identity must be provided. The program only accepts traders who present proof of authentic identity.
The program is not available to any entity, firm, corporation organization, or group of individuals of any type.
Trading activity is limited to forex major currencies only. The following is a list of securities permitted to trade:
EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, USD/CHF, EUR/GBP, EUR/CHF, EUR/JPY
A trader must avoid trading any other securities unless permitted by the Fund’s Official Representative. Trading securities which are not permitted may result in a termination of the program.
PROGRAM AND TARGETS
The following are the definitions of the program end targets:
Each step in the program has a specified target milestone in terms of USD net profit. The amount specified is net profit after deduction of all trading costs, spread, commission, overnight swap charge.
Account Stop out Value
Definition: Is the account value by equity, which determines the maximum loss allowed in the account.
Once the Account Stop out value is breached below, termination for the account will be announced, all unrealized positions, and orders will be closed by the authorized personnel.
Flat Portfolio on Targets
A trader must close all trades and pending orders once reaching the milestone target or the drawdown. The fund will not pay profits higher than the milestone.
As the program scope is directed to skilled traders, the program strongly forbids participation for any reason other than for applying to be the Fund’s Contractor Trader. Therefore, the program forbids the following and will consider this as misuse and violation of the program, which will result in the immediate termination of the program.
TRADING CONDITIONS ACKNOWLEDGMENT
By signing up to the program of Next Gain Capital, I hereby confirm and fully understand that my trading performance may also be affected by various conditions, as such:
Spreads vary according to the market liquidity, at rigid times such as during high impact economic events, the spread difference of ask and bid prices can expand multiple times.
Stop / Limit Pending Orders
Ordering at a specifically requested price is not guaranteed for limit or stop orders during abnormal and volatile periods – the price will be filled at the next best price according to the exchange order book.
At times of extreme liquidity in the market, the differences from one tick quote for the next may significantly increase. This is also known as ‘A Gap’. Any orders that are placed at prices with no tick quote will be filled at the next available quote. This may result in execution at a less preferred price.
Overnight Rollover Spread Conditions
An overnight rollover is an event that occurs at the end of each day, at midnight (the time of the program’s setting). At this hour, the banks shift huge amounts of orders from one day to the next day. This may result in the spreads becoming significantly increased. This usually takes a few seconds up to two minutes past midnight. The spread’s increment may result in the execution of a nearby stop or limit orders. It is advised, to move nearby orders as further away as possible to prevent unwanted executions due to technicalities.
The commission is a trading cost applied by the liquidity provider. This is the industry’s standard method for Brokers and Liquidity Providers to charge for the service of executing orders.
Economic Event Releases
At times of releasing any Economic Data, the price tends to form gaps, and spreads may increase in multiples, and execution is not guaranteed by price. It is advised to pay attention to the event release schedule, to reduce position exposure and shift further limit and stop orders.
Forex Market Trading Hours
Market hours are based on GMT 0 Time zone. During normal days the forex market open hours are from 22:00 Sunday to 20:59 Friday. All trades must be closed before 20:00 Friday, or other wise will be closed by us before 20:59 Friday. Trading and market are paused every night between 22:00 and 23:00 due to swap rollover. During this 1 hour, the server will not perform any market, stop and limit orders. Charts and feed will be frozen as well. This serves as a slippage prevention measures, made to avoid execution of trades at unwanted pricing due to unstable spikes in price spreads.
Email communication serves as the main and official communication with the trader and Next Gain Capital. The Fund will use this modality regularly and in real-time, as a means to send all communication, guidance, and feedback to its team of traders.
It is mandatory for the trader to provide a valid and working email address, in which the trader checks regularly. While the trader obtains live running trades, it is required to check emails at least once in 60 minutes, to allow for real-time communications and feedback from the Fund.
Failing to respond to the Fund’s email communications, may lead to a freezing of the account or program termination.
The Fund provides other means of communication that can serve as backup communication, such as Skype, on-site live chat, on-site contact forms, and international telephone calls.
It is expected for the traders to notify Next Gain Capital of any changes in email or communication details and anything else that may affect their trading performance.
The Fund pays its traders according to their accumulated withdrawable profit . Upon withdrawal request, the payout for profits will be paid within 7 business days.
The Fund pays for net profits to trading partners around the clock and upon withdrawal request.
Once a profit is determined, and withdrawn from the account, the fund will credit-in the payout amount due to the trader.
The payout amount is calculated by the profit growth scheme that is presented on the website and agreed by the trader and the fund prior to signing up.
The trader is required to produce a payment invoice request for the exact amount specified by the profit growth scheme level he achieved.
Upon receiving an accurate invoice by the trading partner, the fund will issue a payout within 48 hours after receiving the invoice.
Traders may skip payouts. By not submitting a payout invoice, the remaining profits will be held in the trading partner’s account.
TERMINATION OF THE PROGRAM
Program termination may take effect at any stage. Terminating the program may occur for all of the below reasons:
- When reaching or passing off the maximum drawdown allowance.
- The violation of the Risk Management Guidelines.
- The misuse or abuse of the program – not for the sake of individual authentic trading.
Returning After a Termination
Traders are allowed to re-subscribe for a new plan regardless of past terminations. Nevertheless, the Fund is allowed to refuse to re-subscribe a trading partner at its own discretion.
At the occurrence of a termination, the following measures will take effect:
A notice of termination will be sent by an official email to the trader.
- Disabling trading permission in trading accounts.
- Denying access to the trading account and platforms provided by the Fund.
- Valid total net profits made in the account will be calculated and paid in the specified schedule for payouts.
COMPLAINT AND DISPUTES
· In the unlikely event that you are dissatisfied with the service provided by Next Gain Capital, please contact our help desk as soon as possible at +1 819 329 7956 or via email at firstname.lastname@example.org or by submitting a contact form under the contact us page: https://nextgaincapital.com/contact-us/ or by contacting our live support chat when available.
· In case of filing a complaint, please include as much detailed information to describe your case. To allow us to investigate your complaint, associate your full name, email, account id, time of the event, and further details information related, you may also provide screenshots images of software, log files, and any other evidence that can be helpful for the claim.
If a 3rd party service is involved, before you take formal steps, first contact us by email, telephone or chat, when available. Often it is possible to find a solution without instigating the formal procedures.
ERRORS AND OMISSIONS
· Subject to the terms of this agreement, neither party hereto, shall be prejudiced in any way by inadvertent errors or omissions made by such party, providing such errors and omissions are corrected promptly following discovery thereof. Upon the discovery of an inadvertent error or omission by either party hereto, appropriate adjustments shall be made as soon as possibly practicable to restore both parties to the fullest extent possible and to the position they would have been in, had no such inadvertent error or omission occurred.
Next Gain Capital reserves the rights for future changes of these Terms and Conditions, upon notifications via an official email address given from the trader. The trader will be committed to the changes or will officially be asked to resign from the program.