FAQs
New to TradersYard Challenge
What is a TradersYard Challenge?
TradersYard Challenge is designed to evaluate the trading skills of aspiring, disciplined traders who can consistently generate profits by effectively trading financial instruments such as stocks, ETFs, Indices, forex, commodities, or cryptocurrencies while managing risk.
How do I sign up?
The sign-up process is explained here.
Who can join TradersYard Challenge?
We accept traders from all around the world. There is no special qualification required. All clients must be at least 18 years old. If you know how to trade profitably and with proper risk management, that is all we care about. Please note that TradersYard does not provide services to persons/countries listed on sanction lists, persons with criminal records related to financial crime or terrorism, and to persons previously banned because of breach of contract/ unethical activities.
Where is your office? How can I contact you?
Our head office is based in Kärntnerring 5-7, 1010 Vienna, Austria. Our entire team, however, is based internationally around the world. You can contact us at support@tradersyard.com
How can I connect to fellow traders participating in a TradersYard Challenge?
In the new age of social media and not wanting traders to feel alone, we highly encourage traders to join social trading via TradersYard.com. Set up your account, find friends, and groups with similar aims as you.
Rules
How many levels are there?
There are 10 ascending levels and 5 descending levels for when you do not make it. You can check all details in Account Scaling
Am I able to reset if I am off to a rough start?
Do not worry, we will not kick you out of the challenge. You will just be moved to a previous level if you do not make it. We do not want traders to throw in the white towel, hence even if you are off to a rough start in the starting level, you will just be moved down to level -1, -2, -3, -4, or -5 and you can continue trading, and win your way back to the starting level without reset.
If you need to reset the account anyway at any negative level, you can do so from your challenge dashboard, the process is explained here: Account Reset
I have entered a challenge but would like to upgrade to a higher account size
You have two options:
You can cancel your current challenge subscription which will then automatically end at the end of the month, and then subscribe to a higher account size starting from the next month. When connecting to the TradersChallenge Broker in AgenaTrader, make sure you have selected the correct Challenge from the dropdown.
You can run a concurrent/parallel challenge with the higher account size. When connecting to the TradersChallenge Broker in AgenaTrader, make sure you have selected the correct Challenge from the dropdown.
Will my account get blocked if I fail the level?
No, we do not want our traders to get blocked by hitting any loss limit. If you fail to observe daily loss limit, you will only get moved down to one level below.
If you fail to observe max loss limit after level 3, you will get moved down to the starting level and if you fail to observe max loss limit for levels below 3, you will only get moved down to one level below.
If you fail level -5, only then you will need to reset your account. So you can trade in a TradersYard TraderChallenge even if you fail certain levels.
The whole process of moving a level up or down is explained here: Moving up or down a level
Which instruments can I trade and what strategies/scripts am I allowed to use?
Your trading approach is at your full discretion. We understand that there are a multitude of trading styles that traders adopt and we have no intentions of imposing limitations or constraints on your chosen trading strategy. The great news is that the trading-platform AgenaTrader - which we provide to all our challenge-traders - will allow you to implement any of your strategies as you like! As long as your trading activities adhere to legitimate practices, align with prevailing market conditions, and are replicable on our operational corporate accounts, there are no prescribed confines for your trading style or methodology. We do not enforce any restrictions on the range of financial instruments or the magnitudes of positions you engage in. You are entitled to trade the full spectrum of instruments and assets available in our challenge-accounts, encompassing forex and CFDs of indices, commodities, stocks, cryptocurrencies.
A complete list of instruments, with their instrument type and other relevant details can be found here.
When can I get my payout and how often?
You can get a payout whenever you pass any level above level 3 as per the account scaling plan. The process of requesting a payout is described here: Payout Requests
I reached my profit target, what should I do next?
Firstly, congratulations! Now you can see the Request Payout button on your challenge dashboard in TradersYard. Once clicked, fill in the details, and we will proceed with the payouts as soon as possible. The process of requesting a payout is described here: Payout Requests
If I passes or fails a level, what happens to my open trades and orders?
When you pass or fail any level, your trades will be closed and your pending orders will be cancelled automatically. You will receive a popup message in AgenaTrader when this happens.
I have won all levels of my challenge, what now?
Congratulations! You have proven yourself, and because of that, we would like to get to know you and work with you. There are many opportunities successful traders can pursue with us, which includes becoming an asset manager. When you successfully passed all levels of your challenge, our team will get in touch with you to plan the next steps on working together with you on a professional level.
If I pass level 3 and receive payouts, but later fail level 4 and go back to level 3 and pass again, am I entitled to the payout for the same level again?
No, you are eligible for a level-payout only once.
Billing & Payments
What payment methods are available?
We accept Visa, MasterCard, American Express, Maestro and Diners Club International.
Why is there a fee?
Yes, to participate in a TradersYard Challenge, there is a monthly fee the user has to pay to take part in our unique offering.
The fee primarily symbolizes a trader's pledge to handle the account with the utmost diligence and accountability. This commitment instills a sense of involvement and psychological engagement. Moreover, the fee represents a minor proportion in comparison to the substantial TradersYard Challenge Account that awaits successful candidates post the Evaluation Process. Essentially, this fee acts as a pivotal gateway to the TradersYard Challenge Account, presenting an avenue towards achieving financial autonomy. Importantly, the fee's safeguard ensures that potential losses on the TradersYard Challenge Account are absorbed by us, thereby restricting any losses beyond the fee itself.
In addition, the fee encompasses the utilization of our distinctive tools such as AgenaTrader with all of its comprehensive features.
Another dimension of the fee involves sieving out committed traders from those attempting casually. Our focus is on adept traders who can consistently yield profits. Considering our finite capacities and resources, accommodating every trader is unfeasible. Hence, we welcome exclusively those individuals who exhibit dedication, seriousness, and responsibility. Our program stands as a highly esteemed service, and its pricing reflects its intrinsic value.
Do we charge any other fees?
No, we don’t charge any additional or hidden fees. The monthly fee for the TradersYard Challenge covers it all. There are absolutely no other fees with us. That means we are covering all fees for the datafeed, trading-platform and infrastructure for you.
Do I have to use my own funds to trade with Challenge?
At no point during your trading journey with us will you need to invest your own funds in order to trade. The only expense to be covered from your end is the monthly subscription fee of our Challenges.
What happens if I do not pay subscription fee?
If you are an existing user and do not pay next month's subscription fee as per the due date, then your challenge account will be suspended along with AgenaTrader license. If you need to reactivate your account from your last running level, please contact support@tradersyard.com within one week.
How do I cancel my subscription?
Head over to Billing from your challenge-dashboard:
Click on Cancel plan to cancel your subscription:
Subsequently, your subscription will be cancelled, you will not be charged for the next billing cycle and your subscription will remain active up until that point.
Legal
Do I have to tax my income?
You will need to deal with taxes on your own, in accordance with your country’s laws and tax regulations. Please contact a local tax-consultant to clarify how you need to tax your challenge-payouts correctly according to your local laws.
Do I need to submit any document for starting a TradersYard Challenge?
No, we do not ask you for any official documents for starting the TradersYard TraderChallenge. Before you can get your first real payout you need to do a basic KYC due to legal reasons. Our team will contact you for that task as soon as you are eligible for your first payout.
Account
Do you offer Demo or Live Accounts?
Our challenges are based on demo accounts with virtual capital throughout the whole challenge-journey. The only difference is that after you pass level 3, you will have to sign a Signal Provider Agreement that we will send to you. This allows TradersYard to copy your trades as signals to our corporate account (if our internal risk-assessments and further metrics are fulfilled). At no point will you be held accountable for potential losses if TradersYard copies your signals and it leads to losses. Also, at no point during your TradersYard Challenge you will trade with real money, all trading-activities in our challenges are virtual.
I cannot find the "TraderChallenge" Broker in the dropdown menu in my connection settings
Make sure that you have the latest version of AgenaTraders installed. The "TraderChallenge" tab is provided from version 3.1.0 onwards. Use this link to download the latest version: AgenaTrader
If you still have trouble finding the broker after the update, please contact our support team at support@tradersyard.com.
How can I see my challenge-progress?
You can view your progress in the Challenge Dashboard in TradersYard. The separate elements on your dashboard are explained here: Challenge Dashboard
What does the different challenge-status definitions mean?
Running: The default status, set after a successful purchase of a new challenge and while the challenge is active, no rules has been violated and no fraudulent behaviour of a user's trading activities has been recognized.
Passed: If a user hits the profit-target in "level 10", then the user has fully won a challenge and the status "passed" is set for the challenge.
Failed: If a user hits the level-loss-limit in "level -5", then the user has fully failed a challenge and the status "failed" is set for the challenge.
Blocked: User is blocked if administrative action is taken by the TradersYard team, if e.g. fraudulent behaviour of a user's trading-behaviour in a challenge is recognized.
Suspended: If the payment for the challenge-subscription fails, a user is automatically blocked from the challenge. The challenge can be activated again by updating payment information in stripe and performing the checkout manually.
How can I reset my account?
If you are currently in "level -5" to "level -1" in your challenge, you have the option to reset your challenge to the "Start Level". If you are trading in one of the specified levels, then the "Reset account" button in your dashboard will become active:
If you click on it, you will be redirected to the TradersYard Checkout, where you can purchase the account reset. After successful payment, your challenge will be reset to the "Start Level" and all your trades will be closed. After the account reset, you start with a completely fresh challenge-account. You can perform account-resets as often as you want.
Trading Platform & Datafeed
What Trading Platforms can I use?
You may only use our state-of-the-art in-house AgenaTrader platform. You can download the application from your Challenge dashboard or directly from here: Download
What are the system requirements?
To ensure that working with AgenaTrader and TradersYard Challenges is as easy and hassle-free as possible, however, certain requirements must be met, which can be optimized by upgrading: AgenaTrader Andromeda - system requirements
Note: Please check your energy settings and turn off the sleep mode!
What is AgenaFeed?
AgenaFeed is a financial data provider that offers real-time and historical market data feeds to traders, investors, and financial professionals. AgenaFeed specializes in providing high-quality, low-latency market data across various asset classes, including equities, options, futures, indices, and more. Most data that AgenaFeed provides is delivered from secondary exchanges (not the primary exchanges like NYSE, NASDAQ) and hence small differences to the actualy prices of the real underyling can occur.
Why should you use AgenaTrader with Challenge?
Some of the unique features you will find in AgenaTrader include:
Charting: AgenaTrader offers advanced charting capabilities, allowing traders to visualize market data, apply technical indicators, draw trendlines, and perform technical analysis.
Strategy Development: Traders can create and test their own trading strategies using the built-in strategy development tools. These strategies can be based on technical indicators, price patterns, and other factors.
Automated Trading: AgenaTrader supports automated trading, enabling traders to execute their strategies automatically without manual intervention. This can help with executing trades quickly and consistently.
Risk Management: The platform typically includes risk management features, such as position sizing, stop-loss orders, and other tools to manage and control trading risk.
Market Data: AgenaTrader provides access to real-time and historical market data, allowing traders to stay informed about market movements and make informed trading decisions.
Broker Integration: AgenaTrader can often be integrated with various brokerage accounts, allowing traders to execute their trades directly from the platform.
Community and Support: Some trading platforms, including AgenaTrader, have active user communities, forums, and customer support to help traders learn, share experiences, and troubleshoot issues.
Coupled with this, TradersYard is a broker-agnostic, innovative, open social trading network where traders can easily find others who share similar ideas and processes, with an unrestricted ability to collaborate in real-time, share data, and analysis.
How do I connect to AgenaFeed?
Please check the article on how to connect to AgenaFeed here as well as the connection-instructions for your challenge-account here: Challenge Connection in AgenaTrader. As soon as you are connected to your challenge-account in AgenaTrader the data delivery via AgenaFeed will be automatically established.
Can I use current AgenaTrader license for my second, third, etc. challenge?
Yes, you can start multiple TradersYard Challenges on the same platform. All you need to do is set each account in the Account Connections separately. Follow this article on how to set up a challenge-connection in your AgenaTrader: Challenge Connection in AgenaTrader
Can I use AgenaTrader license key on another PC?
Yes, you can install AgenaTrader on any additional PC and use the same license key, but only one license key can be active at the same time. That means, if you start AgenaTrader with the same licence key on your second PC, AgenaTrader on your first PC will be disabled and not be usable until you shut down AgenaTrader on your second PC again.
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