Instant Synthetic Account Terms

Section 1 – Instant Synthetic Challenge Parameters

1.1 Challenge Models

The Bloom Funded Instant Synthetic Challenges consist of a Challenge designed to evaluate your trading skills. Detailed information regarding the model is provided during the registration process.

1.2 Trading Guidelines

The Customer must adhere to the following guidelines. Failure to comply may result in the account termination or unsuccessful completion of the challenge.

1.2.1 Max Daily Drawdown

How is Daily Drawdown (DD) Calculated in the Instant Challenges?

In the Instant Challenge, the Daily Drawdown is a fixed 3% of your starting balance. This percentage is deducted from the higher of your Balance or Equity at the beginning of each day. The daily reset occurs at 17:00 EST.

Daily drawdown limits are essential controls that help traders maintain disciplined trading practices while safeguarding their accounts within designated risk levels, promoting long-term viability for participants.

Example 1: Suppose you have a $10,000 account. With a fixed Daily Drawdown of 3%, your equity can decrease to a minimum of $9,700. Even if your equity rises to $10,300 and then falls back to $10,000 on the same day, you can continue trading. In this scenario, if your equity starts at $10,000, the 3% drawdown indicates that your equity can’t drop below $9,700. Conversely, if your balance/equity increases to $10,300 at the end of the day, the drawdown resets at 17:00 EST to $10,300, resulting in a new limit of $10,000.

Example 2: If you start the following day with a $10,300 equity stemming from your $10,000 account, the Daily Drawdown is determined from this highest previous equity. Thus, on the next day, your Daily Drawdown limit adjusts to $10,000 ($10,300 – $300 [3%]).

Breaches typically happen when traders overlook their updated equity levels or misinterpret the reset mechanism. For example, if your calculated drawdown limit is $10,000 but losses reduce your equity below this figure, you will experience a breach. Similarly, profit resets might lead traders to misinterpret their limits, resulting in unintended breaches.

Important: Your account will breach if either the daily or maximum drawdown limit is exceeded. To mitigate risks, traders should consistently monitor their account dashboards and ensure their strategies align with daily and maximum drawdown parameters.

1.2.2 Maximum Drawdown (Max DD) Calculation in the Instant Challenge

How is Maximum Drawdown (DD) Calculated in the Instant Challenge?

The Maximum Allowable Loss Limit represents the maximum equity loss you can incur before your account is considered failed.

In the Instant Challenge, the Maximum Drawdown is a trailing 6% of the highest equity achieved at any point during the challenge. This characteristic means that as long as your account balance grows, your maximum allowable equity loss adjusts accordingly, providing you with more flexibility as you make profits.

Key Points:

• No Reset: Unlike the Daily Drawdown, which resets daily, the Max Drawdown does not reset; it continuously trails your highest equity level.

Examples:

Example 1:

• Starting Balance: $10,000

• Initial Max Drawdown: $9,400 (6% below $10,000)

1. If your equity rises to $10,600: New Max Drawdown: $10,000 (6% below $10,600)

2. If your equity then drops below $10,000 (e.g., $9,950): Breach: You will breach the Max Drawdown limit, as you are below the adjusted Max Drawdown.

Example 2:

• New High Achieved: Your account grows to $11,000

• New Max Drawdown: $10,400 (6% below $11,000)

1. If the equity falls below $10,400 (e.g., $10,350): Breach: You breach the Max Drawdown limit.

Summary: The Maximum Drawdown represents a safety net that adjusts with your highest achievements, promoting a growth-oriented mindset while also managing risk. Monitoring your highest equity levels is crucial, as breaching this limit can lead to the account being considered failed. Both Daily Drawdown and Maximum Drawdown serve as vital tools for maintaining risk management and ensuring disciplined trading behavior.

Important: Your account can breach if either the daily or maximum drawdown limit is surpassed. To minimize risks, traders are encouraged to regularly check their account dashboards and ensure their trading strategies comply with the daily and maximum drawdown limits.

1.2.3 Minimum Trading Days Requirement

The Customer must trade for a minimum number of days, depending on the model:

In the context of evaluation and earning accounts, it’s essential to meet specific trading day requirements to ensure continued progress towards account milestones, such as challenges or qualifications. Below are the key details and examples to illustrate how these requirements work.

Key Requirements:

• Minimum Profit Requirement: You have to make a minimum of 0.5% profit to qualify as a minimum trading day.

• Trading Days: These are active days where you make a minimum of 0.5% profit.

• Payout Policy: The day of a payout approval does not count as an active trading day, even if you made a profit on that day.

There will be an add-on to purchase, which will allow you to trade without the minimum trading days requirement.

Example Scenarios:

Scenario 1:

• Initial Balance: $10,000

• Minimum Profit Requirement: Calculation: 0.5% of $10,000 = $50

• What This Means: To qualify for this day as a minimum trading day, you must make a profit of at least $50 during that single trading day.

Important Notes:

• Minimum Trading Days Requirement: This varies based on the plan you choose. Ensure you are aware of the specific requirements to maintain forward momentum.

• Tracking Progress: Utilize your Bloom Funded dashboard to monitor your performance.

Conclusion: Understanding the minimum trading day requirements and their implications is key to successfully navigating through the phases of your evaluation and earning accounts. By ensuring you meet these profitability thresholds consistently, you can progress through account milestones more effectively.

• Instant Challenge: 4 days

1.2.4 Consistency rule

Instant Challenge: Consistency Rule – 20%

Funded Phase (Payout Consistency Rule) In the Funded Phase, the 20% consistency rule applies to the payout amount requested, not to the total account profit. When a trader submits a payout request: The highest single profitable trading day within the payout period must not exceed 20% of the requested payout amount.

Formula: Maximum allowed single trading day = 20% × Requested Payout Amount

If the highest trading day exceeds this threshold the trader must continue to trade until the consistency is good.

Funded Phase Example – $10,000 Account Assume a trader requests a $500 payout.

• 20% of $500 = $100

• Maximum allowed single trading day = $100

If the trader’s highest trading day during the payout period is:

• $90 → Full $500 payout approved.

• $100 → Full $500 payout approved.

• $150 → Payout denied

In the $150 scenario, you now have to keep on trading until the consistency is within limits. $150 / 0.20 = $750. You now have to trade to $750 before requesting a payout.

1.2.5 Profit Target

As this is instant funding there is no specific profit target.

1.2.6 Gambling strategies are prohibited during the challenge phase.

Bloom Funded defines gambling as follows:

• Excessive Scalping: Executing 50% or more of your trades in under 2 minutes. This includes Tick Scalping and High-Frequency Trading (HFT).

1.2.7 Position limits

• Total open positions per asset = 5

• Total open positions per acc = 13

1.2.8 Maximum lot sizes per pair

At Bloom Funded, we provide Maximum lot sizes for each trading pair and account size. These guidelines are designed to support proper risk management and to help protect traders from excessive exposure. Traders are strongly encouraged to remain within the maximum lot size ranges when placing trades. Traders remain fully responsible for managing their risk appropriately at all times.

Recommended lot size:

! important notice ! It is the sole responsibility of the trader to ensure that they maintain within the range of lot sizes as mentioned above. If a trader exceeds the maximum lot size, the risk engine will automatically close it. In the event of a temporary system disconnection, any trades placed above the allowed limit will be invalid, and any resulting profits will be removed.

1.2.9 Technical Flaw Exploitation

Using system flaws for advantage is prohibited and may lead to immediate suspension from the challenge.

1.2.10 Hedging

Hedging are not allowed by Bloom Funded for the time being.

1.2.11 Costs

All costs related to service provision by the Provider are the Provider’s responsibility.

1.2.12 Applicable Rules

The terms outlined in the FAQ/Rules govern Bloom Funded Challenge accounts.

1.2.13 Copy trading

Bloom Funded allows copy trading through a designated VPS between your own Bloom Funded Challenge Accounts, as long as one account is clearly designated as the master account. However, copy trading between individuals, including the use of cloud-based copy tools such as Social Trader Tools or Duplikum, is strictly prohibited. Violations can result in warnings or account termination.

Traders are not permitted to copy trades between accounts owned by different individuals, including family members, friends, or third parties. Engaging in account management services or participating in a “Pass Your Challenge” scheme also violates Bloom Funded’s policies.

Section 2 – Prohibited Trading Practices

2.1 General Prohibition

The Customer is prohibited from conducting trades that contravene the stipulations outlined in this section or the FAQ. Any trades that violate these stipulations are strictly forbidden. The Customer must adhere to the rules and guidelines set forth in this section and those established by the FAQ when utilizing the Services.

2.1.1 Latency Trading

The Customer must not intentionally or unintentionally use trading strategies that exploit errors in the Services, such as inaccuracies in displayed prices or delays in their updates, including but not limited to practices known as Latency Trading.

2.1.2 External Data Feeds

Executing trades using an external or slow data feed or performing gap trading is prohibited.

2.1.3 Manipulative Software

The use of any software, artificial intelligence, ultra-high-speed, or high-frequency trading, or mass data entry that could manipulate or abuse the Provider’s systems or services, or provide an unfair advantage, is prohibited.

2.1.4 Third-party Trading

The Customer is prohibited from participating in or collaborating with a third party to execute trades, whether such third party is a private individual or a professional. Accessing or allowing trading on their Bloom Funded Challenge Account by any third party is also prohibited.

2.1.5 Account Management by Third Parties

Accessing any third-party Bloom Funded Challenge Account, trading on behalf of any third party, or conducting account management services for another user is prohibited.

2.2 Bloom Funded’s Rights

Bloom Funded retains the exclusive right to impose trading restrictions, modify account parameters, or terminate accounts at its sole discretion to ensure the stability and integrity of its trading environment. This right may be exercised under circumstances including, but not limited to:

2.2.1 Excessive Risk

If BloomFunded determines that a client’s trading strategy, behavior, or specific trades pose a risk deemed excessive or unmanageable under current market conditions, affecting BloomFunded or its customers.

2.2.2 Incompatible Practices

If trading practices are found to be incompatible with standard market operations or Bloom Funded’s risk management policies.

2.2.3 Inconsistent Patterns

If there are inconsistencies in trading patterns, such as significant deviations from the client’s historical trading behavior.

2.2.4 Regulatory Compliance

BloomFunded may impose restrictions to ensure compliance with applicable regulatory requirements or internal policies designed to maintain a secure trading environment.

2.3 Transparency and Client Notification

To maintain transparency and ensure effective management of trading practices, Bloom Funded will:

2.3.1 Client Notification

Make reasonable efforts to notify clients of any trading restrictions, modifications, or account terminations, providing reasons for such actions. Immediate action may be taken without prior notice to protect platform integrity.

2.3.2 Review Opportunities

Clients will have the opportunity to request a review of any imposed restrictions or account actions. Bloom Funded will consider appeals on a case-by-case basis but reserves the right to uphold its original decision.

2.3.3 Limitation of Liability

Bloom Funded shall not be liable for any losses or damages resulting from imposed trading restrictions or account termination. Clients agree to hold Bloom Funded harmless against any claims arising from such actions.

2.4 Consequences of Prohibited Practices

If any or all of the Prohibited Trading Practices are carried out on one or more Bloom Funded Challenge Accounts of a Customer or combined with other accounts, the Provider is entitled to cancel all Services and terminate all relevant contracts. The Provider may take actions set forth in Sections 2.2 and 2.3 at its sole discretion, and the Customer shall not be entitled to a refund of fees paid.

2.5 Repeated Violations

If the Customer repeatedly engages in any of the practices described in Article 2.1 and has been previously notified, the Provider may deny access to all or part of the Services without compensation.

2.6 Third-Party Trading Responsibility

The Provider shall not bear any responsibility for trading or investment activities the Customer performs outside the relationship with the Provider, even if using the same trading platform for real trading. This applies particularly to any third-party services used via the platform.

2.7 Violations

Any violations other than max DD and daily DD will count as a soft breach. The trader has a maximum of 2 soft breaches. On the 3rd breach, the account will be terminated.

Section 3 – Giveaway accounts

Any trading account issued by Bloom Funded as part of a promotion, giveaway, competition, or discretionary allocation (hereinafter referred to as a “Giveaway Account”) shall be subject to the following conditions:

1. Payout Limitation: The holder of a Giveaway Account shall be eligible to receive a maximum of two (2) payouts only, each capped at five percent (5%) of the initial account balance.

2. Total Payout Cap: Under no circumstances shall the total cumulative payouts from a Giveaway Account exceed ten percent (10%) of the initial account balance.

3. Automatic Termination: Upon completion of the second payout, or upon reaching the maximum cumulative payout limit (whichever occurs first), the Giveaway Account shall be automatically terminated, without further notice or obligation from Bloom Funded.

4. No Conversion or Extension: Giveaway Accounts are strictly non-convertible and non-renewable. Traders wishing to continue trading under Bloom Funded conditions must purchase a new account through the standard onboarding process.

5. No Monetary Value / Non-Transferability: Giveaway Accounts hold no direct monetary purchase value, are non-transferable, and may not be sold, assigned, or exchanged.

6. Discretionary Enforcement: Bloom Funded reserves the right, at its sole discretion, to modify, revoke, or terminate any Giveaway Account at any time in the event of abuse, breach of rules, or suspected misuse.

Section 4 – Know Your Customer (KYC)

BLOOM GROWTH-FZCO is committed to implementing robust and comprehensive procedures in accordance with legal and regulatory requirements pertaining to Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).

4.1 Know Your Customer (KYC)

The objectives of the Know Your Customer (KYC) procedures are to:

• 4.1.1 Identification and Vetting: Establish a streamlined and efficient mechanism for identifying and vetting prospective counterparties.

• 4.1.2 Risk Mitigation: Mitigate the risks of money laundering by acquiring and analyzing relevant information.

• 4.1.3 Detection of Suspicious Transactions: Facilitate the detection of suspicious transactions by identifying inconsistencies with the information received.

KYC verification must be conducted solely by the individual account holder. Multiple individuals attempting KYC verification for a single account are strictly prohibited. If such violations are detected, the Provider reserves the right to terminate the account with immediate effect.

4.2 Customer Due Diligence (CDD)

CDD is a mandatory process for initiating and maintaining engagements with counterparties. The CDD protocol involves:

• 3.2.1 Identity Verification: Collecting verifiable identification data from counterparties to unequivocally establish their identity.

• 4.2.2 Understanding Trading Intent: Understanding the intended nature and purpose of the counterparty’s trading activities, including the strategies to be employed and the financial market knowledge to be assessed.

• 4.2.3 Ongoing Monitoring: Performing ongoing monitoring of trading activities to ensure they are consistent with the counterparty’s stated trading strategy, risk profile, and financial resources.

4.3 Enhanced Due Diligence (EDD)

For business relationships or transactions that present a heightened risk, as determined by the Provider’s risk assessment, EDD will be implemented. These enhanced measures exceed standard CDD requirements and include:

• 4.3.1 Additional Documentation: Obtaining additional identity verification documents, particularly in cases where standard documentation has proven insufficient or questionable.

• 4.3.2 Detailed Interview: Conducting a detailed interview, which may include a video call, to personally engage with the counterparty and better assess their legitimacy.

• 4.3.3 Insight into Trading Methodology: Gaining deeper insight into the counterparty’s trading methodology to ensure alignment with our risk tolerance and the ethical trading standards set forth by Bloom Funded.

• 4.3.4 Intense Monitoring: Implementing intensified and ongoing monitoring of the counterparty’s trading activities to dynamically evaluate adherence to agreed-upon practices and risk parameters.

4.4 KYC Procedures by Bloom Funded

The Provider shall undertake KYC measures for all proposed transactions and business relationships. Under general KYC measures, the Provider shall take the following steps to ensure a transparent KYC process:

4.4.1 Identity Verification: Verify the identity of the counterparty based on original or properly certified documents after the challenge phases have been successfully completed. The KYC verification process shall be initiated first.

4.4.2 Verification Methods: Upon starting verification, the counterparty shall be vetted through two options: scanning a QR code or receiving a verification link via SMS. The counterparty will receive instructions upon choosing the convenient option.

4.4.3 Document Submission: The counterparty shall be required to submit specific documents for verification, which must be issued by a government authority or an official body. Acceptable documents include a valid photo ID such as: National ID, Passport, or Driving License.

4.4.4 Validity of Documents: KYC verification shall not be completed if expired documents are provided. Only the most recent valid documents will be accepted to proceed with the verification process.

4.4.5 Agreement Signing: After gathering the necessary documents, the counterparty shall proceed to the “Agreement Signing” stage, where they must provide a full name and address, and agree to the terms mentioned in the agreement. Following these steps, the verification process shall commence and may take 48-72 hours.

4.4.6 Compliance Requirement: The Provider requires strict compliance with these measures and reserves the right to refuse or discontinue any business engagement with a counterparty if the CDD, EDD, or KYC criteria are not satisfactorily met.

4.4.7 Rejection of Applications: Failure to pass the KYC verification process shall result in the rejection of the counterparty’s Bloom Funded Account application.

4.4.8 Third-Party Service Providers: The Provider conducts the KYC process through the trusted third-party service provider Veriff. It is clarified that the KYC verification is not performed directly by the Provider.

4.4.9 Data Handling and Privacy: The Provider does not store or hold any KYC data on its systems. All KYC information submitted by the counterparty is processed and secured by the respective third-party service providers. The handling of data is governed by the Provider’s Privacy Policy.

Section 5 – Refund Policy

5.1 Termination Request by Customer

A Customer wishing to terminate their Client Section must send a request to support@bloomfunded.com. Such a request signifies the desire to end the contractual relationship, resulting in the loss of access to all Services, including the Client Section and Trading Platform. The Provider will confirm receipt of the request via email, officially terminating the contract. Under these circumstances, the Customer forfeits any right to refunds of fees or other expenditures previously paid.

5.2 Severe Violations

In cases where the Customer engages in prohibited practices of a serious nature, the Provider reserves the right to restrict access to all Services and terminate the Customer’s account immediately, without compensation. This may occur without prior warning, and no refunds will be issued for any fees paid in such instances. Additionally, any payments made for add-ons will not be refunded, regardless of eligibility. The Provider retains full discretion in determining the severity of the violation and the appropriate corrective action.

5.3 Activation of Services

Upon paying the fee for the Bloom Funded Challenge program, the Customer will receive login data. By executing the first trade, the Customer acknowledges and agrees that the Provider completes the Services before the withdrawal period ends, thereby waiving the right to contract withdrawal.

5.4 Non-Activation

If the Customer does not activate the Bloom Funded Challenge within 30 calendar days, access will be suspended. Renewal of access can be requested via email to support@bloomfunded.com, subject to any applicable terms.

5.5 Disputes and Chargebacks

In the event of an unjustifiable fee dispute or chargeback initiated by the Customer, the Provider reserves the right to cease services and deny future services at its discretion.

5.6 Refunds

A refund request must be made within 7 days of registration if no trading activity has occurred. Once trading commences, fees become nonrefundable, with no provision for full or partial refunds.

Section 6 – Payout and withdrawal Policy

Payouts are every 15 days, and payouts are capped at $2000.

Section 7 – Dispute Resolution Policy

7.1 Pausing Accounts for Disputes

In the event that the Customer raises a dispute regarding a transaction made to Bloom Funded, the trading account associated with the disputed transaction will be paused as per our Bloom Funded Challenge Terms.

7.2 False Disputes

Bloom Funded reserves the right to permanently suspend any Customer found to have raised a false dispute. A false dispute is defined as a situation where the services provided by Bloom Funded were delivered without issue, yet the Customer initiated a dispute against the transaction.

7.3 Reactivation of Disputed Accounts

If the Customer wishes to reactivate a trading account for which a dispute was raised, they must first withdraw the dispute and provide Bloom Funded with official proof of the dispute withdrawal. Upon receipt of this proof, our Risk Management Team will verify the provided documents. Once the verification process is successfully completed, the trading account will be reactivated.

7.4 Verification Timeline

Please note that the verification of dispute withdrawals and the subsequent account reactivation process may take 30 to 45 business days. The Customer is strongly encouraged to contact our support team before initiating any disputes to address their concerns promptly.

7.5 Contact for Issues

If the Customer experiences any issues related to their trading account or transactions, they are advised to reach out to the support team for assistance. For any further queries, please reach out to our Support Team via our designated Intercom channel or support@bloomfunded.com.

Section 7 – Entire Agreement

The Provider’s decision not to exercise or enforce any right or provision of these Terms shall not be deemed a waiver of such right or provision. Any waiver of rights under these Terms will be effective only if it is in writing and signed by the Provider.

These Terms, along with any policies or operating rules posted by the Provider on this site or in relation to the Service, constitute the full and exclusive understanding and agreement between the Customer and the Provider. This agreement governs the Customer’s use of the Service, overriding all prior or contemporaneous agreements, communications, and proposals, whether oral or written, between the Customer and the Provider (including, but not limited to, any prior versions of the Terms).

Should any ambiguity or question regarding intent or interpretation arise, it shall be resolved in a neutral manner and not automatically against the drafting party. This approach does not override any statutory rights the Customer may hold under applicable consumer protection laws that are not subject to contractual waiver.

Section 8 – Governing Law

These Terms, as well as any additional agreements under which the Provider gives the Customer Services, are regulated and construed in accordance with the Provider’s legal jurisdiction, i.e., the United Arab Emirates.

Section 9 – Local Law

The Customer is advised to be fully aware of and comply with all local laws and regulations pertaining to their participation in the Services. The Customer acknowledges that they are engaging in the Service at their own risk and assumes all responsibility for their participation. By using the Services, the Customer affirms they are over the age of 18 years and acknowledges that the Provider is not responsible for any actions taken by the Customer that may violate local laws. Any such violations are the sole responsibility of the Customer.

Section 10 – Changes to Bloom Funded Challenge Terms

The Provider reserves the right to modify, update, or revise these Terms at any time at its sole discretion. Any such changes will be communicated to Customers through appropriate means, including but not limited to notifications on the website or via email. The Customer is responsible for reviewing the Terms regularly to stay informed of any updates. By continuing to access or use the services after such changes have been communicated, the Customer agrees to be bound by the revised Terms. The Customer must acknowledge and accept that these Terms are subject to change. It is the Customer’s responsibility to review and understand the current Terms before engaging in any Challenges or using any of the Services provided.

Section 11 – Contact Information

Office Address: Building A1, Dubai Digital Park, Dubai Silicon Oasis, Dubai, UAE