UWM
OVERVIEW
UWM is a proprietary trading firm based in the United Arab Emirates, operational for one year. It provides trading services on the MT4 and MT5 platforms and partners with EightCap as its broker. The firm offers account sizes ranging from $10,000 to $300,000. This broad range caters to a variety of traders, from those just beginning to more experienced traders seeking larger funding. UWM employs both 1 Step and 2 Step evaluation processes, allowing traders to choose a path that best suits them. The profit targets set by UWM vary according to the evaluation phase. In the 1 Step evaluation, the target is 10%. For the 2 Step evaluation, the targets are 8% for Phase 1 and 5% for Phase 2. The maximum total drawdown ranges from 6% to 10%, depending on the chosen challenge. UWM presents traders with a selection of trading instruments across various markets, including Forex, Indices, Metals, and Cryptocurrencies. This range accommodates diverse trading preferences. Additionally, the firm offers a uniform leverage of 1:100 across all its trading instruments.
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More information on EightCap commisions can be found
UWM offers a scaling plan that enables traders to increase their account balance to a scale-up cap of $2 million per trader and the opportunity for continuous increments if the eligibility criteria are met. Capital increases in the account occur every four months. To qualify for an increase, traders are required to generate a minimum net profit of 10% over four consecutive monthly cycles, equivalent to an average of 2.5% per month. Additionally, traders must complete at least two pay-outs within this four-month period. However, the trader’s account balance must be higher than the original balance at the time of scaling up.
UWM regularly assesses eligibility, providing traders with a report on their status and the necessary criteria with each profit division. Once the criteria are met, traders can choose to approve scaling up their account during the pay-out processing. A larger UWM account will then be assigned for the next trading period. Correspondingly, the calculation method for loss limits will adjust, maintaining a 5% maximum daily loss and 10% maximum loss of the initial account balance after scaling up. If a trader continues to meet the account growth conditions and completes two pay-outs over the next four months, they become eligible for a further increase in demo capital by 25% of the initial UWM account balance. The maximum increase in demo capital per trader is capped at $2 million.