The Funded Trader is a well-established forex prop firm that provides traders all around the world with funding of up to $1,200,000 and a profit share of up to 90%.
- Good scaling
- High forex leverage
- Merge funded accounts
- No minimum trading days
- Allows news trading
- Funded with demo account and virtual funds
- EAs not allowed
- Hold trades overnight or weekends only for Forex / Crypto / Metals/ Indices
The Funded Trader Review
The Funded Trader is a fast-growing prop firm that was founded on May 12, 2021. They are still relatively new but is a well-established forex prop firm that provides traders all around the world with funding of up to $1,200,000 and a profit share of up to 90%. They could be a good choice for traders since they are a reliable prop firm.
About The Funded Trader
The Funded Traders Program was founded by the same people that founded The Forex League and VVS Academy. They allow traders to make large gains by managing account sizes of up to $1,500,000 and take home profit shares of up to 90%. They have a US office located at 14001 W HWY 29, Suite 102, Liberty Hill, Texas. The Funded Trader provides its traders the opportunity to work with a capital of up to $1,500,000 in balance and profit percentages of up to 90%. Regarding brokers, they work with Eightcap and Purple Trading Seychelles.
Funding Program Options
The Funded Trader Program offers four standard account sizes as well as a two-phase evaluation process to traders. There are two types of challenges: standard and rapid. You must pass their challenge, like with other prop firms, before you can acquire funding. There is also a one-time fee necessary to begin the challenge, which is non-refundable if you fail.
In the industry, the Standard challenge is very standard. There is the challenge and verification approach, which most prop firms commonly use.
The Rapid challenge, on the other hand, allows traders to be funded and obtain their first payment quickly. This is because the challenge has no minimum trading days, which means you may complete the challenge and get paid in one day if you are able.
A trader must maintain a professional level of risk management and consistency in order to get up to a 90 percent profit share and biweekly rewards. They can apply for the Scaling Plan if they continue to trade consistently. The evaluation of the traders’ accounts is every 3 months. They become eligible for a 25% boost in their original account amount by being profitable 2/3 months with an average return of 6% in the three months, or a 2% return monthly for three months. The balance will increase by 25% for up to $1,200,000. When you qualify for the scaling plan, you will also be eligible for 90 percent profit splits.
The fees for their standard challenge are:
$315 for a $50,000 account balance
$549 for a $100,000 account balance
$899 for a $200,000 account balance
$1,789 for a $400,000 account balance
For their rapid challenge:
$299 for a $50,000 account balance
$499 for a $100,000 account balance.
$899 for a $200,000 account balance
The fees are standard, and failing the challenge will not get you a refund for the fee. It is only refundable if you manage to pass the challenge.
You may trade Forex pairs with 100:1 leverage, commodities with 40:1 leverage, indices with 20:1 leverage, and cryptocurrencies with 2:1 leverage with The Funded Trader Program.
The Funded Trader‘s guidelines are somewhat lenient. You can trade during news events, overnight, and on weekends. The only methods that are not allowed are copy trading, hedging across several accounts, and using any kind of expert advisor. Aside from that, you are not permitted to change the passwords associated with any of your accounts; doing so would result in the termination of those accounts.
The first part of the evaluation process is The Funded Trader Standard Challenge Phase 1. If the trader succeeds in this phase, then the trader will obtain their Phase 2 account and continue their evaluation once they have completed the trading objectives and demonstrated their expertise.
The Funded Trader Challenge Phase 2 is the verification stage, during which the trader continues to execute their trading strategy and demonstrate their talents in a more relaxed way, with a profit objective half of what it was in Phase 1. After passing Phase 2, their results will be confirmed and promoted to Funded Trader.
In the evaluation process for the standard challenge, there are two phases: Phase 1 and Phase 2. The primary distinction between the two phases is that the profit target for Phase 1 is 10 % of the total over a period of 35 days. In comparison, the targeted profit margin for Phase 2 is 5% over a period of 60 days. The minimum number of trading days required for any phase is 5, and the leverages available for either stage can range anywhere from 2:1 to 200:1. The profit share can be anything from 80% to 90%, with a maximum loss of 6% daily and a maximum loss of 12% overall.
The rapid challenge is slightly different. The profit objective for Phase 1 is 8% with a 35-day trading period, while the profit target for Phase 2 is 5% with a 60-day trading period. There is no minimum trading day restriction, and you can trade with a leverage of 1:100 during both stages. The profit share ranges from 80 percent to 90 percent, with a maximum daily loss of 5% and an overall loss of 8%.
The Funded Trader is a good choice to choose as a prop firm and has received positive reviews. They are a legitimate prop firm that provides funding to traders globally following the completion of the Evaluation Process. Most prop firms are partnered with 1 broker, but The Funded Trader is partnered with 2 big brokers and considering a third. They are Purple Trading and Nash Markets, and the third is Eightcap.
However, there are some things that users might want to consider when choosing them. The Funded Trader’s rules are lenient in that you can trade news events overnight and on weekends, but not lenient enough to let you utilize EAs like many other prop firms. It could be problematic for traders that rely on employing EA as an important component of their approach.
The Funded Trader Coupon Code
If you are interested in joining The Funded Trader, you can enter our special 5% discount code FT5.