Elites Funding Review – Main Perks and Cons Explained

With the high popularity of proprietary trading, it’s quite clear there will be good and bad companies. In the beginning, they all look the same for an inexperienced trader. However, when you dig deeper into their services, you realize a lot of differences.

That’s why choosing the right trading firm is not an easy task. A few hints you can get also from our Gorilla Futures or Funded Traders reviews. But most of the downsides we cover in this comprehensive Elites Funding review. Stay tuned if you don’t want to be a victim of prop trading.

Legal Info: Who Owns Elites Funding?

Elites Funding company is apparently registered in Gibraltar. Why there, among all other European countries, nobody knows. In any case, Gibraltar is not a well-known trading hub compared to other top-tier regulated countries. Consequently, you can’t expect much from a company registered there. 

In any case, the ownership of this trading brand belongs to Masterlabs Limited, a very anonymous firm. Luckily for them, proprietary trading doesn’t require any regulatory oversight. But that’s exactly what makes it dangerous if you don’t trade with reputable firms. 

Elites Funding Reviews

If you take a glanced look at Elites Funding reviews you might think this company could be the right choice. For instance, if you check the Trustpilot database, you will realize the company already has 157 comments since May 2023 when they were registered. Yet, already 15% of those come with some complaints. Mostly about slippages, platform manipulations, and payout issues. 

We highly doubt that’s a reputable service. Especially when you compare them to fully transparent and legitimate firms, like UK-based Funded Trading Plus. 

What Are Evaluation Plans Available? 

Generally speaking, Elites Funding prop firm has quite simplified plans. Either you apply for a two-step standard challenge or an express challenge. With both options, you’ll have to pay certain unclear fees to access the challenge. Be careful of the fact that the company promotes refundable fees. But does that mean that’s the actual fee you have to pay? Definitely not.

Standard Evaluation

With pretty similar conditions compared to other prop firms, an Elites Funding funded account might seem attractive. But to get there, if you choose a standard challenge, you’ll have to reach a 9% profit target in the first phase and 5% in the second. 

Meanwhile, you’ll have to keep up with maximum daily losses of up to 5% and maximum overall losses of up to 10%. All that with a minimum of 5 trading days and leverage of 1:100. 

Express Evaluation

When it comes to a faster challenge, the profit target is the same. However, the tighter margin for error makes everything a bit harder. Logically. In any case, with this program, you’ll have to stay within 3% daily and 6% maximum losses. Thus, with 4 4-day minimum trading period and leverage of 1:100. 

All in all, Elites Funding fees vary on the funded amount and can go up to $200k. Respectively, you can expect fees from $99 for $5k funding up to $1.150 for $200k funding. 

Trading Platforms Available

As can be seen, completing the Elites Funding login process will give you access to a wide range of possibilities. These are provided by an offshore company Nation FX that uses highly popular MetaTrader 5 software. At least, with all of its advanced features, traders can truly enjoy the experience. Except for the fact that with offshore unregulated brokers trading conditions don’t go in your favor quite often. 

Generally, when you compare these services to Funded Trading Plus, you realize why this UK-based company is the best in the industry. 

Customer Support

Another reason to avoid this prop trading firm is its poor customer support. With undisclosed operating hours and only chatting features available, you can’t expect top-notch assistance. Not even with their live chat or Telegram feature. Not to mention their Telegram channel has only a bit over 900 members. Generally, you can’t rely much on it.

Are Payouts Possible?

As can be seen, most of the Elites Funding complaints are related to payout issues. But that’s not surprising considering “fast processing” that takes 14 days. Even though the payout ratio of 80:20 with a scaling option seems attractive, it’s quite a questionable option with untrusted companies.

Before you even jump on any deals, make sure to understand the advantages of trusted prop trading firms. Such as UK’s Funded Trading Plus. 

Summary: Is Elites Funding Your Best Shot?

Generally, we always come back to Funded Trading Plus because it’s a great example of a highly reputable prop trading firm. When you compare its 2.100 positive reviews and the whole offer, it’s clear Elites Funding is not as good as it presents itself. 

Another huge disadvantage is the location where the company operates. Try trading with regular brokers registered offshore and in the UK and realize how quickly you will get scammed offshore. But we strongly advise you not to test it out. 

All in all, with higher transparency, quick payout plans, and a better reputation, Funded Trading Plus is a way better option for any trader. Especially for inexperienced traders. Sign up with Funded Trading Plus and get a chance to earn great rewards and giveaways the company often offers! Get yourself on the right side of prop trading today. 

FAQ