Funded Traders Review 2024: Is It Worth Becoming a Funded Trader?
Read our Funded Traders review and learn about the benefits and drawbacks of becoming a funded trader with this prop firm. From features and challenges to pricing and reviews, we talk about everything and present you with facts so you can make well-informed decisions.
This prop firm was established in 2019 and according to WHOIS, the domain is registered in the US. But is Funded Traders a US-based firm? The ScamAdviser report seems concerning as multilevel marketing efforts are noticed, which are often scams. Learn more by reading on.
About Funded Traders
The lack of transparency is also something to look into, as the company doesn’t provide an address or anything about its history. The owner of the company is also unknown and his identity is also hidden on WHOIS. It seems like this company likes being anonymous.
Depending on whether you want to trade stocks or forex, the Funded Traders prop account caters to different preferences. Traders can choose to hold traders over the weekend, quadruple their leverage, or trade without the stop-loss requirement upon trade entrance after choosing their preferred trading platform from Eightcap, MT4, or MT5.
|Funded Trader Ltd.
|Suite A, 82 James Carter Road, Mildenhall, Bury St. Edmunds, United Kingdom, IP28 7DE
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|United States, United Kingdom, India, Pakistan, South Africa;
|Lack of transparency and license;
|Good reviews; Various challenges;
While regulation is not expected with prop firms or tools like Kinfo, many of them are working under regulatory oversight. Because of this, we will always recommend a regulated prop firm rather than an unregulated one. In reality, indeed, a license is not required but it is much appreciated.
Additionally, Funded Traders is partnered with IC Markets and ATC Brokers which are globally regulated brokers. If, however, you need to choose your own brokerage company, we advise looking into regulated brokers to ensure a safe trading environment and experience.
Funded Traders Features
Funded Trader uses the Metatrader 4/5 platform, which is the most common choice for traders and brokers worldwide. Additionally, for stock-funded accounts, Sterling Trader is available. Should the trader be successful and advance to a fully funded account, the Funded Traders profit split will be 80%.
There is no end to the virtual trading term, so there is plenty of time for practice and investigation. Participation requires at least 10 virtual trading days. The goal of achieving success in virtual trading is $1,000, or a gain of 10%.
It is recommended that participants leverage their trading efforts with a 1:30 challenge leverage. A maximum relative drawdown of $500 (5%) is set to control risk; drawdown computations take equity and balance into account.
News trading is permitted, giving players the chance to manage market movements impacted by significant events. Weekend holding is also allowed, providing a realistic trading environment that takes into account the characteristics of the market on non-trading days.
Funded Traders Funding Packages
The Forex Funding Packages consist of Beginner, Intermediate, Professional I, and Professional II, while the Stock Funding Packages consist of Beginner, Intermediate, and Professional.
Forex Funded Package
- FX Beginner: $10,000 or $20,000
- FX Intermediate: $40,000 or $50,000
- FX Professional I: $100,000 or $200,000
- FX Professional II: $300,000 or $400,000
Stock Funded Package
You can trade stocks on the New York Stock Exchange (NYSE), NASDAQ, and AMEX with each Stock Funded Package that is available. Every account is subject to an evaluation phase, which means that the company will examine your trading habits to determine whether you are qualified for a fully funded account.
You will be given 1/2 of your desired account in live funds. Here is a breakdown of the features of the stock-funded accounts:
- Beginner: $50,000 USD | 4.5% Draw Down | 20% Target | £1,250 One -Time Fee
- Intermediate: $75,000 USD | 6.5% Draw Down | 25% Target | £2,250 One -Time Fee
- Professional: $100,000 USD | 8% Draw Down | 25% Target | £4,500 One -Time Fee
Funded Traders Challenge
One-Step Challenge: There is a straightforward One-Step Challenge in this Funded Trader plan. You have an infinite amount of time to meet your goal during this assessment.
Flexi Challenge: You can benefit from additional drawdown boosters with this Funded Trader program, and we will reimburse all costs for evaluatees who pass the assessment.
VIP Challenge: With the Funded Trader program, you have an indefinite amount of time to reach your goal and can utilize EAs and trade copiers. Additionally, all fees will be reimbursed for evaluatees who pass the assessment.
Tip: Check out Snowball Analytics!
Funded Traders Reviews
There are over 50 comments on Trustpilot about the Funded Traders prop firm and the firm is rated 4.3 stars. While the majority of reviews are favorable, 10% experienced some issues while using this proprietary company. Let’s take a look at what traders have to say about Funded Traders.
Some traders encountered hidden rules, as they were banned after violating the policy, however, the violation was not stated in the rules until that moment. A big praise goes to customer support and how responsive and helpful they are, according to several favorable comments.
Payment Options and Process
The only payment method is a card, including Visa, Mastercard, Discovery, and American Express. Additionally, you can also use a wire transfer, however, expect a delay in receiving your funds. There are no withdrawal complaints, which indicates the firm is paying profits.
The payment is processed over World Pay and there are no additional charges for both depositing or withdrawing funds. Funded Traders automatically calculates and pays-out profits to traders once a month. This is usually on the 15th of each month.
Can I Make Money While Trading Online?
Proprietary trading has its benefits, however, it poses a great risk, even greater than when you’re trading with your own capital. While Funded Traders has impressive reviews and challenges for traders of all types, we advise choosing a regulated prop firm that is more known.
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What is Funded Traders?
Funded Traders is a proprietary trading firm offering funding packages for traders to engage in forex and stock trading.
Is Funded Traders a Legit Prop Firm?
While the firm has received positive reviews and partnerships with regulated brokers, concerns about transparency, hidden rules, and multilevel marketing efforts raise questions about the firm's legitimacy.
How to Choose the Right Trading Firm?
When selecting a trading firm, it is crucial to consider factors such as regulatory oversight, transparency, customer reviews, and partnership affiliations.