Terms of Service
Official guidelines, trading rules, and conditions for FundedCobra.
1. Definitions
1.1 Account means a FundedCobra funded account provided to the trader for trading on the approved platform.
1.2 Balance means the closed (realized) account balance excluding open trade profit or loss.
1.3 Equity means Balance plus the floating (unrealized) profit or loss of all open positions.
1.4 Floating PnL means unrealized profit or loss on open positions.
1.5 Realized PnL means profit or loss from closed positions.
1.6 Trading Day means a calendar day on which the trader places at least one valid trade under these rules.
1.7 Breach means a violation of any drawdown limit, prohibited practice, or termination condition resulting in account failure or termination.
1.8 Withdrawal Target means the minimum profit percentage required to request a payout, where applicable.
2. Platform, Trading Hours, and Conditions
2.1 Trading Platform: CobraTerminal (web-based).
2.2 Leverage: 1:100.
2.3 Spreads: Variable (floating). Spreads track live market pricing and widen during volatile periods such as major news releases, exactly as they do with a live broker. They are never fixed and no maximum is guaranteed. Typical recent pricing: gold approximately $0.33–$0.89, EUR/USD from approximately 1.7 pips.
2.4 Commission: charged round-turn when a position is opened, shown on the trade in the account history, and charged in addition to the spread. Forex, metals and energy: $3.00 per lot. Crypto: 0.05% of the position value (lots × contract size × open price). Indices: no commission — spread only. Effective 22 August 2026; before this date a flat $3.00 per lot applied to all instruments.
2.5 Trading Hours: 24/5 market access. Weekend holding is permitted where stated as allowed.
3. Account Types and Payout Schedules
3.1 FundedCobra provides multiple account categories. The applicable category and its conditions are shown in the trader’s dashboard and shall govern.
3.2 Cobra Venom Accounts (as shown)
Applicable sizes include $1,250, $3,500, $5,000.
- Profit Target: None stated for these accounts.
- Withdrawal Target: 5% (minimum profit required before payout request).
- Payout Schedule: Daily payouts enabled (subject to eligibility and rules).
- Minimum Trading Days: None (as shown).
- Minimum Withdrawal Amount: As displayed in the dashboard rules panel. Dashboard values apply to the selected account.
- Drawdown: 4% static daily loss and 6% maximum loss.
3.3 Premium Instant Accounts (as shown)
Applicable sizes include $10,000, $25,000, $50,000, $100,000.
- Withdrawal Target: 5%.
- Payout Schedule: Weekly.
- Minimum Trading Days: None — trade at your own pace.
- Drawdown: 4% static daily loss and 6% maximum loss.
4. Profit Measurement and Payout Eligibility
4.1 Profit Calculation: Only closed (realized) profits are counted toward payout eligibility. Floating profits are not counted until the position is closed.
4.2 Minimum Withdrawal Target: A trader must reach the applicable Withdrawal Target (commonly 5% as shown) before requesting a payout.
4.3 Minimum Trading Days Rule (where applicable):
If the account requires minimum trading days, the trader must place at least one valid trade on the required number of separate days before being eligible to request payout.
5. Drawdown Rules (Equity Based)
5.1 Equity-Based Enforcement: All drawdown limits are monitored using Equity, meaning floating PnL is included.
5.2 Daily Drawdown Limit: The applicable static daily drawdown depends on account type.
- Instant and 1-Step accounts: 4% static daily loss.
- 2-Step accounts: 8% static daily loss.
- The daily loss limit is calculated and enforced using equity.
- The daily loss floor is fixed once at the start of each trading day (00:00 UTC) from your equity at that moment. It does not move during the day — profits never tighten it — and it re-anchors at the next 00:00 UTC reset.
- If equity reaches or crosses the static daily limit at any time, a breach occurs.
5.3 Overall Drawdown Limit: The applicable maximum loss depends on account type.
- Instant and 1-Step accounts: 6% maximum loss.
- 2-Step accounts: 12% maximum loss.
- Overall drawdown is measured from the account’s initial or cycle starting equity.
- If equity reaches or crosses this overall drawdown level at any time, a breach occurs.
6. Max Profit Per Trade (Profit Clipping)
6.1 Rule Statement (accounts purchased on or after 28 July 2026): a single trade may contribute at most 60% of the applicable profit or withdrawal target. If a trade exceeds the cap, the entire profit of that trade — not only the amount above the cap — is removed when the trade closes and recorded on the trade in the account history; it does not count toward the target and is deducted from the account balance and equity. This rule never breaches the account.
6.2 Practical Meaning (as shown in your panel):
If the withdrawal target is 5% of the account, then the maximum a single trade can count toward that target is:
60% × 5% = 3% of the account size.
6.3 Examples (from the rule panel concept):
- $10,000 account: withdrawal target 5% = $500; one trade counts up to $300 toward it.
- $100,000 account: withdrawal target 5% = $5,000; one trade counts up to $3,000 toward it.
6.4 Accounts purchased before 28 July 2026: the prior rule applies — a single trade exceeding 25% of the applicable target breaches the account.
6A. Max Risk Per Trade
6A.1 Applicability: This section applies only to accounts purchased on or after 19 July 2026, 12:00 UTC and before 20 August 2026, 00:00 Asia/Karachi. Accounts purchased before that window are not subject to this rule and it is not applied retroactively; accounts purchased on or after 20 August 2026 are governed instead by the floating loss limit in Section 8A.3.
6A.2 Rule Statement: On an account to which this section applies, a single trade may not lose more than 2% of the account starting balance.
6A.3 Practical Meaning:
- $500 account: maximum loss of $10 on any one trade.
- $5,000 account: maximum loss of $100 on any one trade.
- $100,000 account: maximum loss of $2,000 on any one trade.
6A.4 Profit is not limited by this section. There is no cap on what a single trade may earn under this rule.
6A.5 Measurement: The limit is assessed on realised loss at the point the position is fully closed. Unrealised (floating) loss on an open position does not breach this section, and positions are not closed by FundedCobra for the purpose of this rule. Where a position is closed in parts, the parts are aggregated and assessed together.
6A.6 Execution gaps: Where a stop-loss order is executed at a price beyond the level the trader set, because the market gapped through that level, the loss is assessed at the level the trader set rather than the executed price. A trader is not in breach of this section by reason of slippage outside their control. The trader remains subject to the actual realised loss for all other purposes, including drawdown.
6A.7 Consequence: A single trade whose assessed loss exceeds the limit breaches the account.
6A.8 Other limits unaffected: The daily and overall drawdown limits in Section 5 continue to apply independently of this section.
7. Allowed Trading Practices
The following are explicitly permitted (as shown):
7.1 Trading multiple pairs.
7.2 Holding both long and short positions on DIFFERENT pairs. For accounts opened before 20 August 2026, holding a long and short on the same pair (hedging) is also permitted; for accounts opened on or after 20 August 2026 it is prohibited under Section 8A.
7.3 News trading allowed.
7.4 Weekend position holding allowed.
7.5 Multiple positions simultaneously allowed, including consecutive same-direction trades.
7.6 Partial position closing allowed.
7.7 Stop loss modification allowed.
8. Prohibited Trading Practices
The following are prohibited (as shown). Engaging in any prohibited practice may result in breach, termination, payout denial, or other enforcement action.
8.1 High-Frequency Trading (HFT).
8.2 Expert Advisors (EAs) / automated trading.
8.3 Minimum hold time: for accounts purchased on or after 28 July 2026 and before 20 August 2026 (for accounts purchased on or after 20 August 2026, Section 8A.4 applies instead), the first trade closed under 60 seconds results in a warning; the entire profit of any further sub-60-second trade is removed — deducted from the account balance and counting nothing toward the target — and the account is not breached. For accounts purchased before 28 July 2026, repeat sub-60-second closes breach the account.
8.4 Exploitative execution, limited to: trading on stale or frozen quotes, latency or feed-lag exploits, and deliberate abuse of platform errors. This clause is never applied to ordinary trading that follows the written rules above.
8A. Trader Rulebook (accounts opened on or after 20 August 2026)
8A.1 Applicability: this section applies only to accounts opened on or after 20 August 2026 00:00 Asia/Karachi. Accounts opened before that date keep the rulebook in force when they were opened and are not affected by this section.
8A.2 No hedging: holding a buy and a sell position on the same instrument at the same time is prohibited and breaches the account.
8A.3 Floating loss limit: the combined open (unrealised) loss across all positions may not reach 1.5% of the account starting balance at any moment. This is assessed live on account equity. Reaching the limit breaches the account. It replaces the realised single-trade loss rule in Section 6A for these accounts.
8A.4 Minimum hold time: a position closed manually in under 60 seconds breaches the account. A position closed by take-profit or stop-loss in under 60 seconds has its profit removed and is warned; after four such warnings, a fifth sub-60-second take-profit or stop-loss close breaches the account. A position closed by margin stop-out is not counted.
8A.5 The daily drawdown, maximum drawdown, Max Profit Per Trade (Section 6) and minimum-trading-day requirements continue to apply to these accounts alongside this section.
9. Risk Management Requirements
9.1 Stop loss is recommended but not mandatory (as shown).
9.2 Keeping risk per trade under 5% of account equity is strongly recommended practice. This is guidance, not a breach rule — only the written rules in Sections 5–8 and Section 8A can breach an account.
10. Account Termination and Enforcement
10.1 Accounts may be terminated for any of the following (as shown):
- Breach of maximum drawdown limit.
- Violation of trading rules.
- Exploitative execution as defined in Section 8.4 — nothing broader.
- Manipulation attempts.