CK Capital Overview

Have you seen those MyFundedFX videos? The person in those videos, Dan Cheung, just launched his own prop firm called CK Capital. What exactly is CK Capital? This proprietary trading firm, led by CEO Dan Cheung, is based in the UK. The company is a newcomer, having been incorporated on April 18th, 2024. What bothers me is their About Us page. Inconsistent capitalization, grammar mistakes, punctuation issues, etc. Transparency and professionalism are key in this industry. That’s why it’s concerning to see inconsistencies and mistakes on their About Us page.

Adding to the confusion, their website boasts a near-perfect 4.8/5 rating, but there’s no mention of where this score comes from, especially considering TrustPilot shows a lower score. It’s just an image and doesn’t lead to a TrustPilot or TrustIndex score. Last thing I want to point out is the paragraph below. The second paragraph seems disconnected from the first. But these are just minor things that I’m sure they will probably fix. I expected a much more polished website.

Anyway, let’s see if CK Capital can deliver beyond their website. We’ll analyze their programs, fees, and overall structure to see if they stand out from the crowd.

Key Features of CK Capital

• Trade up to $200,000: Access up to $200,000 in simulated trading capital through CK Capital’s 2-step evaluation process.
• Keep 80% of the Profits: Retain 80% of your profits, with a 100% profit split on your first payout up to 10% profits.
• No Time Limits: Trade without any time constraints.
• No Restrictions on Holding Trades: Hold trades overnight or over the weekend without any restrictions.

Challenge Accounts at CK Capital

CK Capital offers a range of challenge accounts that cater to different levels of traders. Let’s take a look at the available accounts, their costs, and the trading rules for each phase of the evaluation process.

Account Options and Costs

• $10,000 Account: $128
• $25,000 Account: $228
• $50,000 Account: $328
• $100,000 Account: $528

Tradable Assets

Traders can choose to trade from the following assets:

• Forex
• Commodities
• Indices

Evaluation Phases

Phase 1 Objectives

In the first phase, the goal is to hit a 10% profit target. The rules for this phase include:

• Profit Target: 10%
• Maximum Daily Loss: 4% (Calculated from the highest of balance or equity at 5 PM EST)
• Maximum Total Loss: 8%

Phase 2 Objectives

Once you pass Phase 1, the targets become a bit more relaxed in Phase 2:

• Profit Target: 5%
• Maximum Daily Loss: 4%
• Maximum Total Loss: 8%

Daily and Total Loss Calculations

Max Daily Loss Calculation:

The maximum daily loss is based on 4% of the initial account balance. Here’s how it works: At 5 PM EST, the higher value between your account balance or equity is taken. From this value, 4% of the initial balance is subtracted to set the daily loss limit for the next day.

• Example 1: If you have a $100,000 account and at 5 PM EST you have an open trade with a floating profit of $2,000, your account equity will be $102,000. Your equity cannot drop below $98,000 ($102,000 – $4,000) on the next trading day.
• Example 2: If you have a $100,000 account and at 5 PM EST you have an open trade with a floating loss of $2,000, your account equity will be $98,000. Since your balance ($100,000) is higher, the daily drawdown limit is based on $100,000. Your equity cannot drop below $96,000 ($100,000 – $4,000) the next day.

Max Total Loss Calculation:

The maximum total loss is a fixed limit set at 8% of the starting account balance. For example, on a $100,000 account, if your balance or equity drops below $92,000 at any time, the account is considered breached.

This setup aims to ensure that traders manage their risk effectively while working towards their profit targets.

Trading Rules at CK Capital

Understanding the rules at CK Capital is important for navigating both evaluation and funded accounts. Here are the key guidelines:

Trading During High-Impact News Events

You can hold trades through high-impact news events, but there are specific restrictions:

• Opening New Positions: No new trades 8 minutes before or after the news release.
• Closing Trades: No closing trades or setting stops 5 minutes before and after the event.

During these restricted periods, you cannot:

• Open new trades (Market Execution/Limit orders) 8 minutes before and after the event.
• Close trades (Market Execution/Limit orders) 5 minutes before and after the event.
• Set Stop Loss and Take Profit orders 5 minutes before and after the event.
• Place Buy Stop and Sell Stop orders 5 minutes before and after the event.

If your Stop Loss or Take Profit orders are triggered within the 10-minute window (5 minutes before and after the event), any profits earned during this time may be removed, though your account won’t be terminated. High-impact news events are based on the Forex Factory economic calendar.

For example, if you have an open trade on a USD pair during US CPI/NFP and the trade hits TP/SL within the restricted window, CK Capital may take appropriate action regarding your account.

Leverage and Lot Size Limits

For different asset classes during the challenge and on qualified trader accounts:

• Forex: 1:50
• Indices: 1:10
• Commodities: 1:20

Lot size limits based on account size:

• $10,000 Account: Max 5 lots
• $25,000 Account: Max 10 lots
• $50,000 Account: Max 20 lots
• $100,000 Account: Max 40 lots

Expert Advisors (EAs)

• Allowed: EAs are permitted, but no functionality for EAs with cTrader accounts.
• Pre-Approval: EAs must be pre-approved. Email support@ckcapital.co.uk with the Set File and MQ5 (Source Code) for approval.

Hedging

• Allowed: You can hedge (hold trades in both directions) for the same instrument within the same account.
• Prohibited: Hedging to lock in price/spread arbitrage and hedging across two separate evaluation accounts will result in account forfeiture.

Prohibited Trading Practices

• Exploiting unrealistic prices or trade opportunities.
• Latency trading.
• Arbitrage trading.
• High-frequency trading.
• News trading strategies (e.g., directional trading, straddles, strangles).
• Reverse trading or group hedging.
• Account management by anyone other than the registered trader.

If unsure about compliance, submit your strategy to support for clarification.

Copy Trading

• Allowed: With restrictions.
• Requirements: Provide Account Number, Investor Password, Server, and the service used.
• Permission: Request permission for copy trading at support@ckcapital.co.uk.
• Prohibited: Unauthorized copy trading and reverse trading between two CK Capital accounts.

Payouts at CK Capital

Here’s how the payout structure at CK Capital works:

First Performance Fee

Your first performance fee becomes available 30 days after you place your first trade on your performance account.

Subsequent Payouts

After the initial payout, you can request payouts every 14 days.

Minimum Payout Amount

You need a minimum of $150 gross to request a performance payment.

Withdrawal Options

• Fiat Withdrawals: Through Rise
• Crypto Withdrawals: Available for those who prefer using cryptocurrencies.

Payout Structure

• First Withdrawal: You get up to 100% of your profits up to 10% of the total account balance.
  • Example 1: If you have a $100,000 account and make $10,000 in profit, you receive the full $10,000.
  • Example 2: If you make $20,000 on a $100,000 account, you receive 100% of the first $10,000 and 80% of the next $10,000, totaling $18,000.
• Subsequent Withdrawals: All profits are split at 80%.

This structure lets you keep a significant portion of your earnings, especially with your initial profits.

CK Capital Trustpilot Reviews

CK Capital has received user feedback, earning a TrustScore of 4.4 out of 5 on Trustpilot based on 12 reviews. Here’s what traders are saying about CK Capital:

Key Themes in Reviews

Customer Support:
Many reviewers highlight CK Capital’s quick response times and effective solutions.

• Example: Ignas from the UK says, “The customer support here is unbelievable. I opened a ticket at 05:20 and got a response immediately. The issue was fixed within an hour.”

Efficiency and Problem Resolution:
Despite being new, CK Capital is praised for handling issues efficiently.

• Example: L Saint from Spain mentions, “The team had a major issue in the first week but resolved it within two hours and compensated traders fairly, showing they are trustworthy despite being new.”

Support Team Assistance:
Individual staff members are often recognized for their helpfulness.

• Example: Winson Neo from Singapore comments, “Rena from support was of great help.”

Community and Trust:
Reviewers frequently talk about the supportive community and trustworthiness of CK Capital.

• Example: Karla John-Baptiste from the UK says, “The team is very responsive and warm. Everything seems to be running smoothly so far.”

Positive Trading Experience:
Many traders appreciate the trading experience at CK Capital and feel valued by the community.

• Example: Stefanie from South Africa shares, “My experience at CK Capital has been amazing. The staff is always kind and ready to help.”

Effective Communication:
Clear and transparent communication is a significant positive point for many users.

• Example: Ian Wessels from the Netherlands says, “Exactly what you want from a prop firm. Honesty, transparency, and building a business with the trader in mind.”

Areas for Improvement:
Most reviews for CK Capital are positive, but as with any new firm, there are areas that could be refined as they grow. Some users mentioned initial issues with account management, but these were resolved quickly and efficiently.

Conclusion

CK Capital is making a solid impression in the prop trading world with positive feedback highlighting its quick customer support, effective problem resolution, and clear communication. Users appreciate the supportive community and have had good trading experiences, even noting some initial hiccups were quickly addressed.

The main area CK Capital needs to work on is their website. While the firm shows a lot of promise, it’s always a good idea to gather as much information as possible and consider all aspects before deciding if it’s the right fit for you. As a newer firm, keep an eye on how they continue to evolve and improve based on user feedback.