Help Center1. Account Types and Limits
Sim Brokerage and Ultra Sim Brokerage Accounts
You may have a maximum of 3 Sim Brokerage style accounts at any time. This limit includes all Sim Brokerage and Ultra Sim Brokerage Accounts combined. The restriction applies to any combination of account types and sizes.
There is no limit on the number of Evaluation or Funded Accounts you may hold.
What is a Sim Brokerage Account?
A Sim Brokerage account functions similarly to a live brokerage account. Your account balance determines your buying power, and the number of contracts you can trade is based on your capital and the broker’s margin requirements.
Important: The firm is not responsible for providing access to a minimum number of contracts. Your capital dictates your leverage — more capital allows for more contracts.
Important Rule:
Flipping trades (placing trades solely to qualify for a reward without a genuine strategy) is strictly prohibited in Sim Brokerage accounts. If a trader reduces trade size by more than 40% after reaching profit targets, this may be deemed manipulative and result in account suspension or termination.
2. Live Brokerage Accounts
Account Setup and Transition to Live Brokerage
Halcyon Trader Funding reserves the discretion to move traders to a Live Brokerage Account at any time, which may occur even before the first reward payout is processed. This transition is based on the company’s evaluation of the trader’s performance and readiness.
Once the decision is made to move to live trading, you will be required to sign a trader agreement, including a Power of Attorney (POA) and any related documents from our broker.
Please note that the company may impose a cap on the amount of capital transferred to the Live Brokerage Account to effectively manage risk.
After completing the necessary documentation, you will receive your live brokerage account credentials, enabling you to trade in a live market environment.
The timeline for this process varies depending on the trader’s responsiveness and company scheduling. Typicaly processing is 5-7 business days.
Margin and Contract Size
Margin is the minimum capital required to open a position. Your contract size adjusts with your account balance; as profits increase, so does your allowable contract size, and vice versa. Margin requirements may increase during periods of high market volatility, potentially up to 4x.
You may carry open positions overnight only if your account meets the required overnight margin and has sufficent balance to do so.
Please note that only Live Brokerage Accounts can carry a position from one session to the next. Sim Brokerage and Ultra Sim Brokerage Accounts are for Day Trading only and all positions and orders must be closed prior to 4:45pm EST.
Account Agreement and Power of Attorney
Upon account setup, you will sign a Live Brokerage trader agreement granting you, the trader, Power of Attorney over a sub-account to execute trades on your behalf. All reward requests must be submitted for verification before payout.
Custom Risk Limits
Optional risk limits, such as a daily stop-loss, help manage your trading risk by capping daily losses. Once the limit is reached, trading must pause until the next day. These risk controls are optional and at the discretion of each trader. The company does place a hard 50% daily loss limit on every account.