Before you decide to accept an PAPA Challenge, we want to make sure that you know what you are up against.

After you sign up, you can either start an PAPA Challenge right away or, as we usually recommend, start with our Free Trial, which is a free version of our PAPA Challenge intended for practicing purposes. In the Free Trial, you will also have the possibility to test some of our Trading Applications and you will also receive a shortened analysis version of your performance in the Free Trial. You can retake your Free Trial as many times as you want to make sure you are fully prepared for an PAPA Challenge.

Once you are ready to accept an PAPA Challenge, you can configure your account here.

Please note you can’t receive our PAPA Account based on your performance in the Free Trial or any other external track record. Our Evaluation Process is designed in a way to provide us with sufficient grounds to ascertain your trading skills and allow you to use our PAPA Account.

Having successfully operated since 2015, we provided thousands of clients with their demo PAPA Accounts, and in total, we have processed over $300 million in rewards to our clients. We’ve also been featured in Forbes and awarded by Deloitte and EY multiple times.

We know that reputation is the most valuable aspect of this business and the best way to find out whether a company is legitimate is to simply look for reviews online. You can do your own due diligence and check the reviews of PAPA on renowned review sites – TrustPilot, Forex Peace Army, or Forex Factory. Many clients also post their feedback on YouTube or share their stories directly with us as you can see in the Testimonials section. Last but not least, feel free to visit our community on Discord.

We let our clients speak for us.

PAPA is a project looking for experienced clients with trading experience. To ascertain if a client has all the qualities we seek, we developed a 2-step Evaluation Process, which consists of PAPA Challenge and Verification stages. Upon successfully passing our Evaluation Process, the client then can be provided with access to an PAPA Account, from which he or she can get a reward of up to 90% of their profits.

The path of a trader is challenging, and our educational applications, account analyses, and performance coaches are here to guide our clients.

We are headquartered in the heart of Europe and our office is conveniently located right in the historical centre of Prague, easily accessible by all means. The address is Prague 1, Purkynova str. 2121/3, 110 00, Czech Republic, you’ll find us at the top of the Quadrio office building If you wish to visit us, let us know in advance so we can inform our reception and we will be happy to meet up with you and show you around.

You can also contact us through a contact form, email, our 24/7 Live Chat, Messenger, or calling our phone number directly – all of these can be found in the contact section.

Apart from the exceptions listed below, we accept clients globally, as depicted in the accompanying map.

No specific qualifications are required. All clients must be over the age of 18. Whether you are a beginner or already know your way around trading and are interested in improving yourself, then you’re the person we’re looking for.

The provided map delineates service availability, with eligible countries highlighted in blue. This representation is subject to internal business decisions and changes in compliance with evolving legal and regulatory standards:

Please note that PAPA does not provide services to persons in/from (both nationals and residents) Iran, Syria, Myanmar, North Korea and USA, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract. PAPA also does not accept clients – legal persons, who are company trusts.

Due to business decisions based on risk management considerations, PAPA does not provide services to clients in Afghanistan, Anguilla, Antarctica, Antigua and Barbuda, Australia*, the Republic of Belarus, Belize, Bhutan, Bouvet Island, Burundi, Cape Verde, Central African Republic, Chad, Cook Islands, Comoros, Republic of the Congo, Cuba, Djibouti, Dominica, Equatorial Guinea, Eritrea, Fiji, Gabon, Gambia, Grenada, Guinea, Guinea-Bissau, Holy See (Vatican City State), India, the Republic of Indonesia, Iraq, Kazakhstan, Kiribati, Kosovo, Kyrgyzstan, Lesotho, Liberia, Malawi, Mali, Mauritania, Marshall Islands, Micronesia, Nauru, Niger, Niue, Papua New Guinea, the Russian Federation, Saint Barthélemy, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sudan, Suriname, Swaziland, Tajikistan, Timor-Leste, Tokelau, Tonga, Turkmenistan, Tuvalu, Ukraine (restrictions are limited to the following regions: Crimea, Sevastopol, Donetsk, Kherson, Luhansk, and Zaporizhzhia), Uzbekistan, Vanuatu, Venezuela, Western Sahara.

Trading is difficult. While trading, you may face many common problems such a:

• Trading an account that is too small (undercapitalisation)


• Fear of losing your own money


• Psychological pressures


• Lack of discipline


• Growth limitations


• Insufficient support from your surroundings

Making a living as a retail trader, especially if you intend to use your own money, is tough. With the PAPA Prop Trading firm, you can get access to an PAPA Account with up to $400,000 of fictitious capital and try what it’s like to trade without the actual risk of losing your money.

Having experience with trading ourselves, we understand that to be a great trader, you need more than just enough capital to trade with. It is in our interest to provide our clients with conditions under which they can perform at their best. Our clients will receive wide access to our innovative Trading Applications which can enhance their trading edge and they will also receive detailed feedback from our company. PAPA Traders may also periodically consult with our Performance Coach free of charge.

Then there is the trading discipline that we emphasize. You cannot be all loosey-goosey with the PAPA Account. We will carefully observe your trading results and provide you with an assessment in the form of the Account Analysis and Trader’s Analysis. Our rules are designed to teach you professional risk management habits and ultimately make you a better trader. No more over-trading, revenge trading, over-leveraging, etc.

Another issue traders face is the so-called ‘keep and grow or withdraw and go‘. Do you prefer compounding your account or rather enjoying your hard-earned profit? At PAPA, you can do both. With PAPA, once you get to the PAPA Trader stage you can receive real rewards for your performance. You can withdraw your reward anytime between 14 to 60 days from your first trade on your PAPA Account (Reward withdrawal). Periodically, we can allocate more balance into your PAPA Account if you’re consistently profitable. Get paid and grow at the same time according to our Scaling Plan.

Last but not least, the initial fee that you’ve paid will be refunded to you with the first Reward withdrawal from the PAPA Account.

Before you decide to accept an PAPA Challenge, we want to make sure that you know what you are up against.

In order to become an PAPA Trader, you will have to pass our 2-step Evaluation Process.

Step 1: PAPA Challenge

A demo account with fictitious capital where you will have to trade according to our Trading Objectives. You will have superior account conditions in the form of our own PAPA solution with very low commissions and spreads. If you manage to pass all requirements, you will proceed to the second and final step of the evaluation.

Step 2: Verification

A demo account with fictitious capital whereby you verify your performance and consistency one last time. The rules in the Verification stage are easier. For a detailed explanation of the rules, please visit the Trading Objectives site.

After you successfully pass the Verification stage, you may get the chance to become an PAPA Trader after passing our review of your trading. To conclude a contract for your PAPA Account, we will ask you to provide your ID document (passport, national ID card) and complete your identification. The conclusion of the contract is dependent on the finalisation of identification procedures in accordance with the PAPA internal policies.

PAPA does not provide services to persons in/from the selected countries specified here, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, persons below 18 years of age, company trusts, and persons previously banned because of breach of any PAPA contractual requirements. In case any of the above-stated reasons are detected after an PAPA Account Agreement between PAPA and the customer has been concluded, PAPA reserves the right to terminate the contract concerned.

Note we don’t grant an PAPA Account based on any past track record.

The minimum requirement to pass an PAPA Challenge is to trade for at least 4 trading days (don’t need to be consecutive). The same then applies to the Verification phase, where again we require you to trade for at least 4 trading days.

We do not have any maximum time limit during which you would have to pass our Evaluation Process, you can therefore take as much time as you need.

Once you meet all 4 Trading Objectives and your trades are reviewed, you can move on to the next phase right away. All in all, you can start using your PAPA Account after as few as 8 trading days.

After you pass all the Trading Objectives in your PAPA Challenge, you will see a notification in your Account MetriX informing you about your success, and you won’t need to trade the account anymore as your Trading Objectives are marked as passed. We will be automatically alerted that you have passed your PAPA Challenge and we will proceed to evaluate your trading results accordingly.

After approximately 1-2 business days, we will then send you the new account login credentials for the Verification stage.

You will trade with the same account balance that you traded in your PAPA Challenge. If you traded with $200,000 in an PAPA Challenge, you would also have access to a fictitious $200,000 on an PAPA Account.

To avoid any confusion, please note that all accounts we provide to our clients are demo accounts with virtual funds. After a client becomes an PAPA Trader, he/she is provided with login credentials for a demo account. Clients are entitled to up to 90% of profits generated on an PAPA Account.

If you wish to trade with a higher account balance, you can simply apply for another PAPA Challenge. Each PAPA Challenge needs to be traded from the beginning, regardless of whether you have passed one in the past. We allow a maximum capital allocation of $400,000 on PAPA Accounts per trader or per strategy, at any given time. This can be understood as 2 PAPA Accounts – each with $200k, or 4 PAPA Accounts – each with $100k, etc. Please be careful not to get multiple accounts through various registrations. If we discover the identically traded strategies throughout various accounts exceeding $400,000 in the allocated capital value, we reserve the right to suspend those accounts per our agreement.

Please note that in the case of an Aggressive risk setup version, the maximum capital allocation on PAPA Accounts is $200,000 as the loss limits are doubled.

On the other hand, if you are consistently profitable on your PAPA Account, we will be happy to allocate additional capital as per our Scaling Plan.

Our PAPA Challenge is the first step of our Evaluation Process. Before you can get your PAPA Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the PAPA Account when trading on our own account on real financial markets. The PAPA Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. We call these rules Trading Objectives.

There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite. As soon as all the Trading Objectives of your PAPA Challenge are met and your results are reviewed, you can proceed to the Verification phase. The minimum time to complete an PAPA Challenge is 4 trading days.

The Verification stage is the second and final step of our Evaluation Process. The purpose of the Verification stage is to test your trading consistency. We need to be sure that you can trade your system or strategy profitably in the long run while respecting the rules. The Verification stage has easier Trading Objectives compared to the PAPA Challenge stage as the Profit Target is reduced by half, and just like in the first step, you have an unlimited amount of time to pass.

As soon as you succeed in all Trading Objectives and your results are reviewed, you can complete your PAPA Identity to sign the contract for your PAPA Account. No need to wait any longer!

When you become an PAPA Trader, we already know that we can trust your trading skills and abilities to manage risk properly and therefore, we will provide you with top-rated trading conditions in the industry. To ensure you will not be stressed by chasing any targets, we have completely removed the Profit Target requirement to give you the freedom to trade with peace of mind. The only Trading Objectives we require you to respect are the drawdown rules (Maximum Daily Loss and Maximum Loss), which are the most important rules we care about as these are the fundamentals of trading and we may use data on your simulated trades to perform our own trades in real financial markets.

In an PAPA Challenge and Verification, you can trade freely during all news releases.

After you pass the Evaluation Process (consisting of PAPA Challenge + Verification), and unless your account type is Swing, you should be careful when trading during news releases.

Following is the trade restriction table for our PAPA Traders with specific types of reports and instruments. Only our PAPA Traders trading on an PAPA Account are NOT allowed to execute any new trade or close an existing trade on the targeted (as per the table) instrument in the window of 2 minutes before until 2 minutes after the release of the below news announcements. To clarify, we define executing a trade as opening or closing either a pending order (including stop loss or a take profit) or market execution. You are allowed to hold your trade(s) on the targeted instrument(s) that were opened more than 2 minutes before the restricted news event. Be reminded that if your Stop Loss or Take Profit is activated/filled during the restricted time window of 2 minutes before until 2 minutes after, it may be taken as a violation of the PAPA Account Agreement.

Other non-targeted instruments can be traded normally. E.g. You can trade EURGBP or AUDNZD during the US – NFP release. However, you should not open or close USDJPY or GBPUSD during the window of 2 minutes before to 2 minutes after the NFP release.

The news releases schedule can also be monitored in our Economic Calendar, where these restricted events are marked by a red background fill:

Please note again that the above restrictions do not apply to PAPA Challenge or Verification accounts. Also, these restrictions don’t apply to PAPA Traders having the account type set to PAPA Account Swing. Unlike the PAPA Account, the PAPA Account Swing does not have restrictions for news trading nor holding trades over the weekend.

For news announcements affecting USD, the restriction applies for Forex pairs with USD currency involved, just as for any of the offered Indices, namely US30.cash, US100.cash, US500.cash, US2000.cash.

In an PAPA Challenge or Verification, you don’t have to. During these stages, you can keep your positions open overnight and over the weekend as well.

However, once you become an PAPA Trader and get an PAPA Account, we require you to close your positions just before the markets close for the weekend or if the rollover (market break) is longer than 2 hours. Our PAPA Traders having the PAPA Account must respect the market timings. Every asset class and its respective instruments might have different trading hours that have to be adhered to.

Standard market hours are visible in the trading platforms and at our Symbols site, however, trading hours are routinely subject to changes based on major holidays or other events. All changes to standard market hours are announced in the Trading Updates section and we highly recommend visiting this page regularly.

In MetaTrader, when you open the Market Watch (Ctrl+M), right-click on the instrument of your interest, and choose ‘Specification’. In the dialogue window, scroll down and you can see the ‘Trade’ hours of the subject instrument. These are the standard market hours applicable most days (unless specified otherwise in the Trading Updates).

In the cTrader platform, open Markets – right-click on the instrument of your interest, and choose ‘Market Symbol’. The trade hours will be displayed in the same dialogue window.

In the DXtrade platform, you can simply go to your “Watchlist,” right-click on any instrument and select the “Instrument Info” option to view the Trading Hours in your local time.

If you trade cryptocurrencies, some can be traded during specific hours of the weekend as well.

Also, the above restrictions don’t apply to PAPA Traders having the account type PAPA Account Swing. Unlike the PAPA Account, the PAPA Account Swing does not have restrictions for news trading or holding trades over the weekend.

Your trading style is up to you. As long as your trading is legitimate (in line with proper risk management), conforms to the real market conditions, and does not resemble forbidden practices, we have no reasons for limiting or restricting your trading strategy, whether it’s discretionary trading, algorithmic trading, EAs, etc. When trading, keep in mind that your trading style should be replicable on live accounts to generate the same results as on your PAPA Account. We do not require you to use a Stop-loss (although it’s generally advisable to always have certain safety measures in place) and the maximum volume per order on Forex is 50 lots. You can trade all the instruments and assets that are available in your trading platform (Forex, Indices, Commodities, Stocks, Crypto,…). You can also view the available symbols on this link. If your system is profitable while respecting the rules, we’re happy to see you profit with us.

If you intend to use trading robots (Expert Advisors – EAs), keep in mind that if you use an EA from a third party, there might be other traders already using the same EA and therefore exactly the same strategy. By using a third-party EA, you potentially run a risk of being denied the PAPA Account if you exceed the maximum capital allocation rule.

Please note that platform servers have 200 orders at a time and 2000 max positions per day limitation, just as the limited acceptance of the server messages (orders and order modifications such as updates of TP/ SL and updates of limit orders). If your EA causes hyperactivity to a platform server, we might alert you and ask you to adjust the EA logic or parameters of your strategy.

Please beware of practices that have nothing much in common with serious trading. These practices are laid out in detail in our article here. If we identify intentional activities or Modus Operandi being repeated on more accounts, we reserve our right to take the necessary action to mitigate risk. This might vary from removing the conflicting positions, rebalancing the account, reducing leverage, or terminating the account completely and ceasing our cooperation altogether. You may refer to the Terms & Conditions (clause 5.4) for more information on what constitutes Forbidden Trading Practices. Please trade with genuine intentions and show us your edge in the markets and consistency that you can be proud of.

Trading must be legitimate and traders must not use practices that contradict the functioning of a real market. A trading strategy is allowed, provided it doesn’t interfere with legitimate trading or exploit practices that are intended to cause us any harm or misuse the Evaluation Process and/or PAPA Account in any way and breach the forbidden trading practices.

We recommend that you get familiar with How PAPA works, just as the Terms & Conditions, specifically clause 5.4. that describes the above-mentioned forbidden trading practices.

Please note again that all trading via the PAPA platform (Free Trial, Evaluation process, PAPA Account) is simulated only, with only fictitious capital available. However, we may use the data obtained from PAPA Accounts to trade on our own separate live accounts. Hence we emulate the conditions of a real market and require our clients to apply proper risk management. And when you trade on a real market (e.g. via a proprietary trading firm), you have to follow the rules.

The relationship between an PAPA Trader and PAPA is based on the PAPA Account Agreement that we will sign with you after you pass your PAPA Challenge and Verification as well as the KYC/KYB process. Please note that your status (Natural Person, Legal Entity) will be based on the option you selected during your first order purchase, depending on whether you purchased it as a Natural Person or a Legal Entity. You can request a change only once, after successfully completing your PAPA Challenge and Verification, or following your Reward payment as an PAPA Trader, but before starting your next trading cycle.

The PAPA Account Agreement is a legally binding document defining both our and your duties and rights. If you are interested in a sample of the contract, please contact us at [email protected].

What is the process of signing the contract?

Once you meet the Trading Objectives of your Verification, the PAPA Identity section will be unlocked in your Client Area.

In the PAPA Identity section, you will be able to save your personal or company details and related documentation and have them verified by our compliance team.

The compliance checks usually take less than 1 business day for personal registrations and up to 3 business days for company registrations.

Once all the information is verified by our compliance team, it will be securely stored in our system, ready to be used in case you wish to start using your PAPA Account(s) or conclude a new PAPA Account Agreement.

There are three different types of identities to choose from:

Natural Person (In this case, you would need to undergo the KYC – Know Your Customer verification process. Valid government-issued ID document showing nationality and Proof of address are required)

Entrepreneur (In this case, you would need to undergo the KYB – Know Your Business verification process. Valid government-issued ID document showing nationality, a document confirming the registration as an entrepreneur and Proof of address are required)

Company (In this case, you would need to undergo the KYB – Know Your Business verification process. Valid government-issued ID document showing nationality and Proof of address of the representative of the company, a document confirming the legal existence of the company, and Proof of address of the company are required)

Once you pass your KYC or KYB check, PAPA Account Agreement will be unlocked for your review and signing in your Client Area – PAPA Traders – Contracts. You will be able to read through the contract and use your PAPA Identity to complete it with just a few clicks.

Important : The PAPA Identity type (Natural Person, Entrepreneur, or Company) can be changed once and will be locked afterwards.

The Client Area is designed to be intuitive and self-explanatory and to provide most of the necessary information for you, but you can always contact our customer support if you need help or assistance.

PAPA Traders will have the same account balance size as chosen for their preceding PAPA Challenge and Verification.

To avoid any confusion, after a client becomes an PAPA Trader, he/she will be provided with a demo account with fictitious capital. Clients are entitled to up to 90% of results generated on the PAPA Account.

We do not have upgrading options so you need to choose the appropriate account size right at the beginning when you are configuring your PAPA Challenge. You can, however, start a new PAPA Challenge and upon successfully passing another Evaluation Process, we will provide you with another PAPA Account. Just keep in mind that our maximum capital allocation on PAPA Accounts is $400,000 per trader/strategy.

If you are successful and consistent in the long run, your PAPA Account balance can be increased according to our Scaling Plan. The Scale-up can only be accommodated during the Reward withdrawal processing. If your account fulfills the eligibility criteria, you will be able to request a Scale-up during the Reward withdrawal process, directly in the Client Area. We shall then review your track record and provide a scaled-up PAPA Account for you for the upcoming trading period.

After a client becomes an PAPA Trader, they will be provided with a demo account with fictitious capital.

An PAPA Account is an account with fully fictitious funds, however, with real market quotes from liquidity providers. Please note that, for PAPA Account purposes, liquidity providers do not provide us or PAPA Traders with any real money (liquidity), only with the market quotes. Our clients therefore never actually perform any trades on live markets.

In a separate process, PAPA also trades on its own account (outside of the PAPA platform) with real financial means. While performing its own trades, PAPA may also use trading data obtained from its clients’ PAPA Accounts. PAPA continuously monitors and analyses the trades executed by PAPA Traders in the demo environment and subsequently evaluates whether trades will be executed for FTMO’s own account. This execution occurs without any impact on FTMO’s clients and their simulated trading. These two processes are separate and in no way is the PAPA Trader influenced by FTMO’s trading.

Even though PAPA Traders trade with fictitious capital only, they are entitled to obtain a reward in the form of real money if they can generate “profit” on an PAPA Account. Meaning if they are able to trade the fictitious capital in a way that is profitable, proving their skills and the value of data provided in the process, they will receive a reward.

The reward from an PAPA Account is processed on a monthly basis by default, with the option to place a withdrawal on-demand after a period of 14 calendar days from the first placed trade on the account. Provided there is some profit on the PAPA Account from the simulated trading, the Reward Day can be changed up to 3 times for each withdrawal, anytime between 14 days and 60 days from the start of trading. If PAPA Trader doesn’t make a change to their Reward Day before the end of a one-month cycle, the Reward Day will be anchored to the last day of that particular Reference Period, without the option to change it further in the current cycle. For example, if a trader starts trading on the 1st of April, the first Reward Day will be available on the 15th of April, and the latest option for the Reward Day will be after 60 days, hence 31st May.

The withdrawals are processed within 1-2 business days upon confirming the invoice. You can receive your reward by a regular bank wire transfer, instant transfer via Visa Direct/Mastercard Send (up to $20,000), Skrill, or cryptocurrencies, and we do not charge any additional commissions for them.

You don’t need to score any minimum profit to receive a reward, only just enough to cover the transaction fees* Whatever amount of profit you generate, you are entitled to withdraw 80% of it. If you meet the conditions of our Scaling Plan, not only will we increase the balance of your PAPA Account by 25%, but you will also be entitled to a 90% reward.

If you prefer to keep your reward on account to grow and accordingly build up your balance and drawdown buffer, you can do so. However, please note that the 20% split (10% with the Scale-up plan) will always be deducted.

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* Due to imposed fees for payout transfers, there is a minimum closed profit requirement of at least $20 for bank wire and $50 for crypto withdrawals, to cover the cost of a transaction.

Please bear in mind that you are solely responsible and liable for the payment of any and all taxes, levies, or fees that apply to you in relation to the PAPA Account Agreement under the applicable laws and regulations. PAPA is neither able nor authorised to provide any tax advice or instructions.

Yes, if you are not satisfied with the current trading platform of your choice, you may change it after you finish each stage of the Evaluation Process. Hence, the change is possible after the PAPA Challenge or Verification or after each withdrawal cycle on an PAPA Account.

To change the trading platform, head to your Account MetriX and click the “Modify” button in the upper section of your MetriX.

Change of platform is not possible for Free Trials and during the progress of your trading.

The account specification can be seen directly in the trading platform. To view the instrument specification in MetaTrader, open your Market Watch (Ctrl+M), right-click on the concerned instrument, and choose ‘specification’.

Please familiarise yourself with the offer and conditions of each instrument you trade.

Platform server time: MetaTrader 4, MetaTrader 5 = GMT+2 +DST. cTrader = customised (as per trader’s settings).

The leverage we offer is up to 1:100 and cannot be increased. The leverage can be lowered upon request. The Swing account type has leverage set as up to 1:30. As at all stages you trade with fictitious capital only, the leverage is applied to this fictitious capital only.

Symbol specifications can be viewed on the Treading site, while planned platform maintenance and other important trading updates can be viewed on the Trading Updates site.

You can trade your PAPA Challenge, Verification, and PAPA Account on some of the most popular retail platforms – MetaTrader 4, MetaTrader 5, DXtrade, or cTrader. US nationals/residents including the US overseas territories (Guam, American Samoa, Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands) are not allowed to use MetaTrader or cTrader platform. You can choose these platforms in the PAPA Challenge configurator here.

Generally, the use of VPN/VPS services is allowed, except for accessing MetaTrader and cTrader accounts from the United States geolocation. Clients who travel to the United States should avoid logging in to MetaTrader and cTrader accounts from there.

PAPA provides services of simulated trading and educational tools for traders. Since the beginning of PAPA, our objective has been to provide traders with conditions as similar as possible to the real market in all parts of the Evaluation Process, Free Trial, and PAPA Account. In the Free Trial, you can check our trading setup and try it out for free and we always recommend our clients to try it before jumping into the Evaluation Process.

Are there differences in execution for different clients?

All execution settings have been the same for all clients regardless of whether it is Free Trial, PAPA Challenge, Verification or PAPA Account. We do not differentiate among any group of clients. All clients take advantage of the same execution and accounts settings on a trading platform, with no difference at any stage, regardless of your trading performance.

Can I experience any execution delays?

Execution delays are always present in real market trading. It happens on all trading platforms and trading servers. To simulate this on FTMO’s servers, we apply a delay which reaches up to 200 ms. Other factors that contribute to execution delays are geographical location from the server/data centre, internet connection, and latency. Execution delays are not set up on an individual basis but indiscriminately for all clients on a particular platform. You can always view the execution speed in your platform terminal – journal.

Why does PAPA charge a commission on some asset classes?

In order to best emulate how financial markets operate and in line with market standards, we also include simulated commissions when executing trades. All commissions applied to each symbol can be found by everyone on our website and on the trading platform. This is another important part of getting close to how the real market works and testing trading skills in the most accurate conditions as if they were in the real market. We pride ourselves on having one of the industry’s lowest and most competitive commission structures.

Does PAPA apply hidden markups or added slippage?

We do not add hidden markups or additional slippage. Trades are executed according to the pricing visible on the trading platform. In the case of slippage, the executed price was affected due to the technical delay that we explained above. Slippages can be both positive and negative without any preference.

How does copying trades affect PAPA Traders?

In case PAPA wishes to replicate a client’s trades, the replication technology runs in a separate environment without interfering with the account of the client. The trading conditions remain the same on the client’s platform, regardless of whether the client’s trades are replicated or not.

Certainly, our system offers a flexible feature that allows you to make modifications to your current account. This includes the ability to easily switch between account types (Normal/Swing) and trading platforms, all conveniently facilitated through our user-friendly interface. To initiate any changes, simply click the ‘Modify Account’ button within the MetriX app. This grants you immediate access to customize your account according to your preferences.

It’s important to note that this modification functionality remains available until the first trade is executed on the specific trading account.

After you sign up for PAPA, you may apply for an PAPA Challenge by configuring your account parameters here: https://trader.papafounds.com. After you submit the order form, you will be redirected to the payment page and you will also receive the order confirmation email.

You can pay for an PAPA Challenge via bank wire transfer, debit/credit card, cryptocurrencies, or Skrill.

Due to regulatory reasons, bank transfers are not available for payments/withdrawals in the case of the following countries: Venezuela, Cuba, Sudan, and Ukraine.

No, we don’t charge any additional or hidden fees. The one-time fee for an PAPA Challenge covers it all, including the Verification, there are absolutely no recurring fees with us. Moreover, your fee will be reimbursed to you when you successfully pass the PAPA Challenge and Verification with the first Reward withdrawal on your PAPA Account.

We start processing your PAPA Challenge account as soon as we receive the payment. Usually, it does not take us more than a few hours to process an PAPA Challenge account. On rare occasions, it might take us up to 24 hours to create your PAPA Challenge.

When we create your trading account, you will receive your PAPA Challenge notification by email, and your login credentials to the trading platform can be found directly in your Client Area. Please monitor your mailbox, including spam/junk folders.

Make sure you safeguard your login credentials and that you don’t authorize anybody besides yourself to access them. We can not be held responsible if your account will be accessed by anyone else.

The fee covers the costs related to the PAPA Challenge provided by PAPA such as the designing, development, and operation of the PAPA platform (the technical infrastructure behind the provided educational services and applications). The size of the fee differs accordingly to the selected PAPA Challenge, depending on the amount of its simulated account balance. The respective fee also covers the designing and development of all the applications mentioned below and the creation of other content available to our clients.

In this connection, after payment of a fee, you have not only access to PAPA Challenge and the simulated trading environment but also to all our unique applications designed to enhance your learning experience, such as the Statistical Application, Mentor Application, Account and Trader’s Analysis, Account MetriX, trading calculators & more.

Bear in mind that you cannot lose more than this fee and on top of that, the fee is always refunded back to the trader with his/her first Reward withdrawal from an PAPA Account (after he/she passes the Evaluation process).

We do not place any limit on the number of accounts you can have in the PAPA Challenge and Verification stage. However, we have a maximum capital allocation limit when you are an PAPA Trader, which is $400,000 (prior to scaling) per trader or strategy, at any given time.

Equivalent limits are in place for other currencies – €320,000; £280,000; CAD 480,000; AUD 520,000; CHF 320,000 or CZK 8,000,000.

These limits are in place due to risk mitigation & diversification measures.

Please be careful not to get multiple accounts through various registrations as this is not permitted. If we discover identically traded strategies through various accounts, and exceeding the total of fictitious $400,000 in active PAPA Accounts, we reserve the right to suspend those accounts as per the contract.

If you would like to combine your individual PAPA Account into a single master PAPA Account, we can do so upon request. The combined PAPA Accounts need to be at least at their initial account balance to be merged and meet the following conditions:

• 1. The PAPA Account is not in drawdown.
• 2. There is no simulated profit due for withdrawal.
• 3. All accounts to be merged have the same risk setup.
• 4. All accounts to be merged are in the same base currency.

The single merged PAPA Account will then have a combined balance value as well as the drawdown limits (5% Maximum Daily Loss / 10% Maximum Loss). If you wish to compound your profits, you do not have to withdraw them before merging the accounts.

Sure we do! At PAPA, most of us are traders too and we know the needs of our clients based on our own experiences. We constantly develop new features, tools, applications, and educational content for our clients. Following are some of the highlights that make us proud of what we do:

• Statistical Application – The Statistical Application will show you meaningful and number-based probabilities of market behaviour that you can use to your advantage.


• Mentor Application – The Mentor Application is a unique application that helps you to achieve better results through strengthening your discipline.


• Trading Journal – Archiving trading results usually is not one of the favourite activities of most traders, but it is a piece of cake with our Trading Journal.


• Account MetriX – The Account MetriX is an innovative and unique web application where you can monitor your progress towards becoming the PAPA Trader.


• Account Analysis – A comprehensive assessment of your trading period that includes a wide selection of data and statistics.


• Trader’s Analysis – All your trading history including all Free trials, PAPA Challenges, Verifications, and PAPA Accounts is summarized in a comprehensive analytical tool to unlock deep trading data collected since the beginning of your PAPA trading career.


• Trading calculators – Before executing a trade, every serious trader should know how much capital he/she will need to open the position and how much will he/she can lose if the trade fails. Our Margin Calculator and Pip Calculator will help you determine these important values for our demo accounts without any complicated calculations.


• PAPA Academy – In order to become a serious trader, it is essential to have basic and advanced profound trading knowledge. That is why we have developed the Trading Academy, which will help you in your trading journey.


• Quick Trade Manager – The primary objective of this application is to simplify entering new orders, with a specific focus on assisting you in swiftly and effortlessly calculating their position size in MT4 and MT5.


• Performance Coach – Often neglected, yet an extremely crucial aspect of trading, is psychology. We offer support here as well.


• Equity Simulator – Improve your risk management and calculate your probabilities and chances based on your current trading performance. Available in your Account MetriX.

We offer a Free Trial account, which is an abridged version of an PAPA Challenge. The purpose of the Free Trial is to serve our new clients to see how it works and assess their trading skills to see if they have what it takes to pass an PAPA Challenge and Verification. If you are able to repeatedly pass our Free Trial, then there are chances you can succeed in the full PAPA Challenge as well. This should encourage you to start your journey to become one of our PAPA Traders.

Please note that Free Trials don’t give you any eligibility to automatically secure your PAPA Account. Although your results might be good in the Free Trial, you still need to go through the Evaluation Process to become one of our PAPA Traders.

Our Free Trials are extremely popular and we have literally thousands of accounts taken every day. To accommodate the demand, only one Free Trial per trader is allowed at a time.

Note that with your Free Trial, you can use most of our unique applications, such as the Statistical Application, Account MetriX or Trading Journal, and shortened version of Account Analysis.

Certainly. We know very well that psychology can be a major obstacle for many traders. We too have experienced things like overtrading, revenge trading, greed, FOMO, etc. It is said that 80% of success in trading is devoted to a proper state of mind, controlled emotions, and psychological stability. That’s why we have partnered with educated performance coaches and we offer their services to all our PAPA Traders. More information and a contact form can be found on this link.

Who is the PAPA Account Swing suitable for?

PAPA Account Swing does not have any restrictions for trading around news releases and holding of trades overnight (above 2 hours market close) and over the weekend. That’s why this account type is suitable for swing traders who need to hold positions for a longer period of time, giving them enough time for their trades to evolve. In most cases, these are fundamental traders who expect market sentiment to last a couple of days/weeks or technical traders who analyze higher timeframes (H1 and above). Please beware of Forbidden Trading Practices as described in T&Cs (clause 5.4), and gambling-like situations, some of which are described in this article.

How can I get the Swing account type?

While ordering an PAPA Challenge you can choose Swing as your account type while configuring your order. You can also convert your account type later on after starting your PAPA Challenge.

I am currently an PAPA Trader. Can I switch my PAPA Account to PAPA Account Swing?

Yes, you can. You can switch your existing PAPA Account to the PAPA Account Swing before every new cycle (Reference Period). In other words, you can change your account type to Swing account type after every Reward withdrawal or after signing the PAPA Account Agreement and before placing any trade on the original PAPA Account.

I am currently trading on an PAPA Challenge or Verification. Can I switch over to the Swing account type?

Yes, you can. You can do the conversion once you end your current phase, not while you actively trade. To change your account type, click on the “Modify” button in your Account MetriX.

PAPA Points can be viewed as “vouchers” that clients can utilise in several ways.

How to earn PAPA Points?

Clients can get PAPA Points in three ways:

• By choosing PAPA Points as the alternative for Reward payout (whole or part of) to which the Clients are entitled based on a particular PAPA Account Agreement during the Reward processing.
• By choosing PAPA Points as the alternative for fee refund for previously purchased PAPA Challenge (fee refunds can only be transferred to PAPA Points in full, not partially).
• As a part of special promotional campaigns – particular rules will be determined during the marketing campaign.
• One PAPA Point equals 1 Euro. In case your refund or Reward are in other currency, we will convert it using our rates and automatically display the amount of PAPA Points available for purchase. It’s important to note that PAPA Points cannot be exchanged for cash (real money) or other monetary value.

How to use PAPA Points?

PAPA Points are displayed in the Client Area under the Profile tab. Clients can use the PAPA Points exclusively to purchase services and/or products from PAPA or our affiliates. For example, the PAPA Points can be used as a discount when purchasing a new PAPA Challenge or even cover the entire fee (if the Client has PAPA Points corresponding to the PAPA Challenge fee available).

The PAPA Points will be applied to a particular purchase in the following order:

• PAPA Points purchased with the refund for PAPA Challenge or Reward,
• PAPA Points received as part of promotional campaign.

Please be aware that the PAPA Points have an expiration date, which can be checked in the Client Area.

In order to qualify for the Prime Status:

• You must not have failed an PAPA Account within the last 4 months
• You must not have an Aggressive PAPA Account
• You must process at least 4 Reward withdrawals on a single order, each with at least 4% profit before the 80% reward (90% in the case of a Scaling Plan). The withdrawals do not have to be consecutive.

Please note that the qualification does not consider PAPA Accounts with contracts signed before 2023.

Yes, the Premium Programme and Scaling Plan are two different and independent Programmes. Therefore, it is possible to benefit from both Programmes simultaneously.

No, in order to apply for the Supreme Status, the $400k PAPA Account must merged only from at least two $200k PAPA Accounts or one single $400k PAPA Account. Also, please note that the merged $400k PAPA must go through the Prime Status first in order to be eligible for the Supreme Status. In case you decide to merge one Prime PAPA Account and one Regular PAPA Account, the current progress of conditions for the Supreme Status will reset.

No, all account sizes can be applied for the Prime Status if the conditions are met, except for accounts with Aggressive risk mode.

Once you are part of the Supreme Status, you can enjoy the same benefits of the Prime Status plus the following additional benefits:

• Maximum Capital Allocation is extended to 1 Million USD
• Certificate/badges
• No Maximum Daily Loss
• Immediate payout
• Possibility to join our Quantlane team (upon passing the assessment)
  • With a dedicated seat and institutional trading desk in our Prague offices
  • Competitive salary

In order to qualify for the Supreme Status:

• You must not have failed an PAPA Account within the last 4 months
• You must have an active $400K PAPA Account (can be merged from 2x$200K or $400K PAPA Account purchased in Prime)
• You must be active in the Prime Status for at least 3 months and you must process 3 additional payouts, each with at least 4% profit before the 80% reward (90% in the case of a Scaling Plan). The withdrawals do not have to be consecutive.

Once you are a part of the Prime Status, you can enjoy the following benefits:

• 1x Free PAPA Challenge of the same size as the approved PAPA Account
• Maximum Capital Allocation extended to $600K or equivalent in other currencies
• Unlocked $400K PAPA Challenge product or equivalent in other currencies (10% discount applicable)
• Reward size upgraded to 90%
• 10% discount on all new purchases
• 5% bonus from rollover on the subsequent PAPA Account (withdrawable after 30 calendar days)
• 15% discount on our e-shop

The Premium Programme is tied to a specific order and is not limited by time.

You will be removed from the Premium Programme if one of the following situations occurs:

• You fail the PAPA Account which is part of the Premium Programme
• You fail 3 accounts regardless of the of the stage (PAPA Challenge, Verification, PAPA Account)
• You breach the contractual requirements of the Premium Programme

Besides the standard eligibility conditions, you should not have any past or prevailing conflict of interest with PAPA, or engagement in the Forbidden Trading Practices, as laid out in the Terms & Conditions (clause 5.4).