By joining the LCT Funded Trader Program, you agree to the following terms and conditions


London City Trading (LCT) is an education company that runs an online educational trading community and a prop trading firm that funds its traders through its Funded Trader Program.

London City Trading is the trading name of Enigma Fintech Ltd, a privately-owned company registered in England & Wales with company number 13365101.

LCT is not authorised or regulated by the Financial Conduct Authority and does not undertake any regulated activities operating in compliance with FCA guidelines.

LCT is not a financial institution, not a broker, and does not market for brokerage services.

LCT does not invest clients' capital or trade it on the financial markets; all funding is provided by the company's and its private partner's capital.

LCT provides practical evaluation for educational purposes to traders of any nationality, allowing them to enhance their risk management and trading psychology and compounding profits.

LCT continuously looks for the best traders to develop and build their careers by trading the company's capital and joining its online trading floor."

Who is a party to this agreement?

London City Trading (LCT): The company provides funding to students and Evaluation Traders.

You (The Student or Funded Trader): By enrolling in the Standard Funded Trader Program, you agree to abide by the terms and conditions outlined in the Standard FTP, Standard Scaling Plans, Withdrawals, FAQs, and this Standard Terms and Conditions page.

Upon signing up, you will assume two roles for progression:"

1.  Evaluation Trader (ET): A funded trader who is undergoing evaluation on a live funded account to qualify for the Portfolio Manager (PM) position once all evaluation requirements are met.

The Evaluation Phase: This is the initial stage of the Standard Funded Trader Program. The Evaluation Trader completes the practical portion of LCT's educational journey to becoming a Portfolio Manager at the company. During this stage, the Evaluation Trader must demonstrate consistently profitable trading performance for the period specified by LCT and abide by all Risk Management Policies.

2. Portfolio Manager (PM): An Evaluation Trader who has successfully completed the initial evaluation requirements and progressed to the next phase of trading with a fully funded account or a Direct Funding Trader who has signed up to one of the Direct Funding Plans and bypassed the evaluation phase.

The Portfolio Manager Phase: This is the phase where the Evaluation Trader has met all the trading requirements and successfully completed the Evaluation Phase, or the Funded Trader has enrolled through the Direct Funding route. During this phase, the Portfolio Manager will be fully qualified, and LCT will contract the trader to trade with LCT's own capital.

Who is eligible for funding from LCT?

1. Traders must be 18 years of age or older.

2. Traders of any nationality (excluding those from Syria, North Korea, Cuba, and Iran) can participate.

3. Funding is available for individual traders to trade LCT's capital during the Evaluation and Portfolio Manager Phases.

4. Proof of Identity (ID or passport) and Proof of Address (Recent utility bill or bank statement no older than three months) are required to ensure that the funded trader is the only one trading the funded account.

5. The Funded Trader Program™ is not intended for large organisations, groups of individuals, or copy traders.

6. The Funded Trader should have some prior knowledge of forex trading terms and concepts, including market orders, limit orders, and stop orders, market open and closing hours, the economic calendar and news releases, flexible and fixed spreads, overnight rollover time, commissions, overnight swaps, pip, point value, lot size, stop loss, take profit, market order, stop order, limit order, ask, bid, relative drawdown, and absolute drawdown.

7. The Funded Trader must also demonstrate adequate trading skills throughout all phases of the Standard Funded Trader Program.

8. The funded trader must understand the risk management policies and guidelines before signing up for any funding plans and their minimum requirements.

9. The funded trader must adjust their risk exposure to match the requirements of the Standard Funded Trader Program before beginning to trade with LCT's capital."

Fee Structure and Refund Policy

1. LCT does not refund the sign-up fee once the funded account has been traded.

2. If the funded account has yet to be traded, LCT will refund the sign-up fee within seven days of the sign-up date.

3. The sign-up fee is not considered a deposit for a trading account.

4. LCT charges a one-time fee to cover the trading costs that the funded trader may incur during the Evaluation Phase of the Standard Funded Trader Program.

5. LCT does not charge monthly or recurring fees throughout the Funded Trader Program™.

6. The Funded Trader cannot upgrade to a larger funded account or downgrade to a smaller funded account once the funded account has been traded.

Trading Platform

1. LCT provides its Funded Traders with the MT5 trading platform for Windows and MAC operating systems upon sign-up.

2. The Funded Trader will have full control over the trading platform and be the only person with access to the account.

3. LCT will not interfere with any Funded Trader's accounts unless they fail to comply with Risk Management Policies.

4. LCT offers an EA and Indicator Development service to help traders convert their EAs and indicators from MT4 to MT5.




Commodities: Gold, Silver, Oil.

Major Index Stocks: S&P500, US30, US100, DAX, UK100., F40, JP225, STOXX50, AUS200.

Prohibited Actions for Funded Traders

1. The Funded Trader must not trade the Funded Account in coordination with other active traders on the same account. However, the Funded Trader can share and discuss trading ideas with other traders in the community.

2. The Funded Trader must not use the name of another person on one or more funded accounts.

3. The Funded Trader must not duplicate trades and orders using copy/social trading service providers. However, the Funded Trader can copy their other personal accounts into a LCT Funded Account.

4. There is no limit on the number of evaluations that can be pursued simultaneously. However, as a portfolio manager, the funded trader can have up to 2 PM accounts at the same time.

5. A PM-funded trader can merge two PM accounts into one. The merged accounts will still be treated as two accounts after the merger.

6. The Funded Trader must not open accounts in other people's names

Compliance with Risk Management Policies and Guidelines

1. Each Funded Trader must manage their positions and take the necessary measures as outlined in the risk management policies and trading guidelines specified on the Standard Funded Trader Program page and this Terms and Conditions page.

2. The Funded Trader must not use maximum leverage on any single trade. In case of entering a trade when maximum leverage is used or an unusual volume size to the entry, that trade will not be counted towards the trader's profit target. This is to ensure responsible risk management practices.

3. LCT supplies Funded Traders with its own & partner's trading capital.

4. The Funded Trader will not be liable for any trading losses that may occur during the Standard Funded Trader Program.

5. The Funded Trader must act responsibly while trading with LCT during the Funded Trader Program to avoid severe losses on the funded account.

6. LCT will monitor the trading activity of the Funded Traders and warn them of any violations of the risk management policies up to 2 times before considering terminating their Funded Trader Program.

7. If the Funded Trader does not comply with the risk policies, LCT has the right to terminate the Funded Trader's account and exclude them from the Standard Funded Trader Program.

8. The Funded Trader must not give access to the Funded Account to any third parties. Doing so will lead to the termination of their account and this agreement.

9. The Funded Trader can always reapply if they wish to comply with the Risk Policy during their enrollment in the Standard Funded Trader Program.

10. The funded trader must report to LCT via email to if their account credentials have been lost or stolen.

Termination of the Funded Trader Program

The Standard Funded Trader Program can be terminated due to the trader's failure to adhere to the risk policies for both the Evaluation and/or Portfolio Manager phases. The termination of the Funded Trader Program may occur for the following reasons:

1. Reaching the maximum Absolute Drawdown $ (Fixed Loss from Initial Capital) during the Evaluation Phase and any of the Portfolio Manager Phases.

2. Frequent violations of any of the Risk Management Policy Guidelines after 2 warnings.

3. The expiration of the evaluation account after 6 months from the registration date.

4, Misuse or abuse of the Funded Trader Program.

5. The use of the Funded Trader Program for any other purpose than the authenticity of the individual trading.

6. High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, any Tick Scalping Strategies, any Copy Trading of other person's signals, any Reverse Arbitrage Trading, any Hedge Arbitrage Trading, any use of emulators and Martin Gale Style EAs.

7. Group Trading (manually or using the same EA by one individual on more than 2 accounts or by multiple individuals on multiple accounts).

8. Social Trading, Copy Trading from other traders, and any mirrored trading activity.

You agree that at all times, London City Trading has the right to terminate your funding as it sees fit to its risk tolerance and willingness to risk its own capital during all phases of the Funded Trader Program at its own discretion.

Termination Notice

1. LCT will send the Funded Trader an official notice of termination via email, and the Funded Trader can request a copy of the trading statement at any time.

2. LCT will revoke the trading permission in the Funded Account.

3. The Funded Trader can apply again for the Funded Trader Program™ regardless of past terminations, as long as they comply with the Risk Policies upon their most recent application. However, LCT reserves the right to refuse re-application at its discretion.

Communication with the Company "LCT"

1. Email, Discord, and Live Chat are the official communication mediums between the Funded Trader and London City Trading.

2. LCT will communicate in real-time and to the best of its ability to provide fast and reliable service to its Funded Traders.

3. The Funded Traders must provide a valid email while enrolled in the Funded Trader Program to allow real-time communications with LCT’s staff.

4. LCT reserves the right to freeze or terminate the Funded Account if the Funded Trader fails to respond to the company’s emails.

5. LCT provides phone calls and Zoom as backup forms of communication.

6. The Funded Trader must notify LCT of any changes to their email address.

Misunderstandings and Errors in Communications

Subject to the terms of this agreement, neither party shall be prejudiced in any way by any unintentional errors or omissions made by the other party as long as such errors and omissions are corrected promptly upon discovery.

Upon discovering an unintentional error or omission by either party, appropriate adjustments shall be made as soon as possible to restore both parties to the fullest extent possible and to the position they would have been in had no such error or omission occurred.

LCT reserves the right to make changes to these Terms and Conditions with notifications via an official email address given by the funded trader. The funded trader will be committed to the changes or asked to officially resign from the program.

Spreads & Commissions

1. Different market conditions and liquidity can cause spreads to vary accordingly. During high-impact economic releases, the spreads may widen.

2. However, the spreads we use are competitive, usually around 0.1 pips for EURUSD on average.

3. At the end of each day, between 10 PM and midnight UK Time, the banks move large amounts of orders from the current day to the following day. This may cause spreads to be significantly increased. Therefore, it is advisable to widen stop losses during these times to avoid unwanted execution of nearby orders due to technicalities.

4. The commission is fixed at $2.25 per lot per side for FX and Commodities and $0.275 per lot per side for indices during the Evaluation phase.

5. The commission is fixed at $2.75 per lot per side for FX and Commodities and $0.275 per lot per side for indices once funded on a PM account.

Market Gaps & Slippage

1. Sometimes, during very illiquid periods, the markets can gap significantly. Any orders placed at prices with no quotes will be filled at the next available price. This may result in opening the trade at a less favourable price.

2. Slippage can occur at any time but is most relevant during periods of high volatility when market orders are executed. This can also happen when a large market order is executed, but there isn’t enough volume at the chosen price to execute the trade at the current market price. Slippage can occur when there is a delay between the trade being ordered and when it’s completed. Therefore, LCT does not guarantee to pay the profit for trades where significant slippages occur on LCT’s corporate trading account.