Glow Node
OVERVIEW
Glow Node is a proprietary trading firm based in the United Kingdom. The firm is led by CEO Sam Bradbury and has been in business for less than a year. Opting for the MT4 platform, Glow Node provides its traders with a reliable and widely-recognized trading environment. Their partnership with EightCap, a broker, suggests a level of operational reliability and standard in trading executions. The range of account sizes from $5,000 to $200,000 offers a broad spectrum for different levels of traders. The evaluation process involves two steps with distinct profit targets. In Step 1 of the evaluation, the target is 10%, while in the two-step evaluation process, the targets are 8% for Phase 1 and 5% for Phase 2. The maximum total drawdown allowed ranges from 8% to 10%, depending on the specific challenge or account. Glow Node offers different leverage options based on the type of asset being traded. Forex trading is leveraged at 1:30, Indices trading leverage is set at 1:10, and for Crypto trading, the leverage is lower at 1:3, reflecting the higher volatility associated with cryptocurrencies.
Glow Node’s scaling process follows a methodical structure that mandates traders to engage in a minimum 3-month trading period. Throughout this initial phase, traders are expected to generate pay-outs equivalent to 10% of their trading activities. Suppose a trader begins trading on Glow Node with an initial account balance of $50,000. Over the course of the 3-month trading period, the trader engages in various trades, and their cumulative pay-outs amount to $5,000, meeting the 10% requirement. To be eligible for scaling, the trader’s account must surpass its initial balance, to increase their account by 30% of the initial balance. When a trader on Glow Node successfully undergoes the scaling process, there is a shift in the pay-out split. The distribution of profits between the trader and the platform becomes 90:10, the larger portion going directly to the trader. Additionally, this scaling process is designed for repetition, allowing traders to continually elevate their trading accounts. However, there is a cap on the maximum scaled account size, set at $1,000,000.