If one or more behaviors that deviate from Fintokei’s guidelines are applicable, there is a possibility that individual trading accounts may be subject to restrictions or restriction rules ⚠️
Here is a post from someone who actually had restriction rules applied.
I also received a violation email from Fintokei💧
It seems that if restrictions are applied, positions will be closed automatically, so I will keep an eye on the account I am currently trading. #Fintokeihttps://t.co/akydd5pzhx pic.twitter.com/E2HRUzrR4U— USK (@usk048) November 5, 2024
So, what kind of trading would be considered gambling behavior?
- Prohibited Gambling Behavior
- Using Excessive Leverage or Placing Excessively Large Orders Without a Plan
- One-Sided, Biased Betting Behavior
- Excessively Purchasing Plans, Cross-Account Hedging, or Engaging in Unplanned Trading
- Achieving the Profit Target in a Single Trade (or Multiple Similar Trades on the Same Asset on the Same Day)
- The Content of Fintokei’s Gambling Behavior Restrictions and Restriction Rules
- Notes on Fintokei’s Restriction Rules
Prohibited Gambling Behavior
According to the Fintokei公式サイト(https://www.fintokei.com/jp/) FAQ, the following gambling behaviors are prohibited:
Using Excessive Leverage or Placing Excessively Large Orders Without a Plan
At Fintokei, a single large volume trade will not trigger a warning. However, if you are engaging in high-leverage trading without a pattern or strategy, and cannot explain the rationale for your actions, it will be considered a violation.
Even if you violate once, you can avoid it by explaining and correcting it.
One-Sided, Biased Betting Behavior
Fintokei公式サイト(https://www.fintokei.com/jp/) does not have a clear definition of “one-sided betting”, but they provide the following example:
Setting an abnormally large trading position on one or more assets without comprehensive market analysis before a market event, in the expectation of above-average profits, is akin to betting everything on a single color in roulette.
It seems that high-lot trading on indicator-based trades would be considered a yellow card.
Excessively Purchasing Plans, Cross-Account Hedging, or Engaging in Unplanned Trading
A practice that Fintokei dislikes is account rolling. Account rolling is defined by Fintokei as a trader purchasing multiple plans and actively and recklessly trading in order to clear any one of the plans.
Fintokei公式サイト(https://www.fintokei.com/jp/) actually mentioned this as one of the characteristics of Japanese traders in a Czech article.
Analysis of the tendencies of Japanese traders by Fintokei🟣
The quoted Czech article discusses the characteristics of Japanese traders💬
1️⃣ Many scalpers
2️⃣ Operate multiple accounts to diversify risk
3️⃣ Flexibly adjust RRR to aim for high returns
4️⃣ Dislike indicator-based trading
5️⃣ USDJPY and EURUSD are popular… https://t.co/qI8R3WchUm— Prop Firm Dissection Textbook📕 (@fxkaitaishinsho) November 7, 2024
From the above, it seems that Fintokei may have the impression that Japanese traders engage in more gambling-like trading than traders from other countries.
Achieving the Profit Target in a Single Trade (or Multiple Similar Trades on the Same Asset on the Same Day)
According to Fintokei公式サイト(https://www.fintokei.com/jp/), the evaluation program has profit targets and minimum trading days as conditions for traders to meet. The minimum trading days are to prevent gamblers or luck-reliant traders from clearing the challenge with a single lucky trade, excessive leverage, or one-sided betting, as stated in the Fintokei FAQ.
However, many traders use the technique of trading the minimum lot size (e.g., 0.01 lots) to complete the remaining days after achieving the profit target in a single trade.
I only have 2 more days left to qualify for the Fintokei Pearl account’s Step 2.
I’ll try hard to pass another account as well, so I can operate 3 Pearl accounts. #fintokei pic.twitter.com/YK5Tmg0TaP— Hayato (@Hayato28_trade) May 20, 2024
This technique seems to be called “flipping trades”.
The Content of Fintokei’s Gambling Behavior Restrictions and Restriction Rules
Fintokei is focused on “financial education” – finding, nurturing, and supporting traders who have a certain edge over the market and can produce consistent long-term results. These traders are welcomed to other prop firms.
However, the default Challenge Plan and Instant Pro Plan do not have any restriction rules or additional penalties applied. But Fintokei constantly monitors all accounts and, if they detect gambling behavior, they will apply restrictions or restriction rules in the following order.
Notify the Trader by Email and Have Them Explain Their Strategy and Approach, or Give Them a Grace Period to Modify Their Trading Style
When Fintokei detects gambling behavior, they will send the trader a warning email asking them to “explain their strategy and approach” or “modify their trading style”.
Here is a post on X by someone who got caught by the restriction rules.
I received an email from Fintokei about violating trading rules. It said I purchased too many Challenge Plans, and that my withdrawals after Pro upgrade were too high.
Trying to pass a lot of challenges and failing, then securing profits to withdraw after Pro upgrade, thinking it was okay to get disqualified afterwards, was a mistake. pic.twitter.com/DIhS7Gh9Ce— Hidemaru【Fintokei Restricted】 (@kaz08173651) November 2, 2024
This is how the email seems to come. If you don’t fully understand the rules, you may feel dissatisfied.
Apply Restriction Rules or Restrictions to the Trader’s Account
To restrict gambling behavior, Fintokei may apply the following restriction rules to the trader’s existing and/or upgraded trading accounts.
Not all of these restriction rules will be applied, and the number of restriction rules applied may vary by individual.
About “Setting a Daily Maximum Profit or Loss Limit”
If the daily maximum profit or loss limit is reached, the system will close all open positions. (Server time) After midnight, trading can resume.
You will be notified by email when the daily limit is reached and when trading becomes active again.
Also, when these restrictions are applied to an account, the MyFintokei dashboard will show the daily maximum profit or loss amount, and the amount at which these “minor violations” are triggered (updated daily).
Notes on Fintokei’s Restriction Rules
According to Fintokei公式サイト(https://www.fintokei.com/jp/), the restriction rules have the following characteristics:
Restriction Rules are Applied Indefinitely to the Applicable Account
If restriction rules are applied, they will be applied indefinitely to all trading accounts you hold. Thereafter, they will also apply to all accounts that are upgraded or scaled up from the current account, as long as the restriction