FundedX Review – What To Avoid With Prop Trading Firms

One of the first signs you shouldn’t trade with this firm is a lack of legal documents. After all, they present themselves as a prop-trading firm that doesn’t even require regulations. So, what’s the problem?

Sadly, once you see the FundedX reviews, you will realize what issues you can expect. Luckily, our FundedX review will help you avoid all traps coming from this firm.

Legal Info: Is the FundedX Legit?

One of the first signs you can’t trust this firm is a lack of legal transparency. This firm doesn’t even reveal who founded it or where the company is based. That’s already a sign to avoid them. On top of that, the company doesn’t present us with any trusted contact options or addresses.

Fairly, even without regulations required, they should present traders with such information. Honestly, from a company registered in 2018, we could expect much more. But after FundedX reviews, you might change your mind.           

What Traders Say About FundedX?

If you look at the company’s reviews on Trustpilot, you will quickly find out there’s no reason to trust them. Even though there are only 14 comments, traders already reported slippage issues, high commissions, and payout problems. What else do you need to stay away from them?

If you check Funded Trading Plus firm, you will realize how big a difference there is between trusted and non-trusted trading firms. Not to mention the FundedX prop firm changed its domain from fundedxo.co to fundedx.com.

What Are FundedX Account Options?

In general, most prop-trading firms offer similar features. Starting with 1 or 2-phased evaluation projects, easily reachable profit targets, and low fees. Fairly, with FundedX funded account options, it’s pretty much the same. So, you can choose between those but starting fees will be the same.

For instance, whether you choose the 1-phased or 2-phased challenge, for $5K funding you’ll have to pay $69. However, if you opt for a $200k funded account, you’ll have to pay $989. In reality, it doesn’t matter if you pass the $5K or $200K challenge. 

What Assets You Can Trade?

One of the positive things about the FundedX funded account options is that you can trade all the top five major trading classes. Starting with Forex, CFDs, and cryptos. However, that doesn’t guarantee you a success. After all, if traders report payout issues, there are many signs already you won’t get any. But to know how to avoid such obstacles, we recommend you check our Kapital Consult review.

What Trading Platform Can You Use?

In general, trusted prop-trading firms offer highly trusted platforms like cTrader or MetaTrader. In general, these platforms count more than 50 million users in total.

However, this prop firm opted for the less popular TradeLocker which has just a bit over 50 thousand downloads on PlayStore. In addition to that, the TradeLocker platform has a bunch of negative reviews as well. For this reason, we invite you to read our Dav Invest review and find out how to recognize trusted trading platforms and companies.

Trading Conditions Make A Big Difference

Generally speaking, companies like Funded Trading Plus based in the UK, have far more transparent trading conditions. From FundedX challenge options, we can’t expect much. In any case, for some tradeable assets, you can expect leverage of up to 1:50. When it comes to spreads and commissions, these will remain unknown.

How To Reach Funded Account?

To get access to any of the funded programs, traders have to pass one of the challenge options. They can either choose 1-phased or 2-phased challenges. So, before you even opt for any of those options, make sure to calculate properly what suits you more.

The one-phased challenge includes conditions like:

• 10% profit target
• Unlimited trading period
• 5 days minimum trading period
• Max daily loss of 4%
• Max loss of 7%
• Consistency rule of 60%

 The two-phased challenge includes:

• 5%-8% profit target
• Unlimited trading duration
• 3 days minimum trading duration
• Max daily loss of 5%
• Max loss of 10%
• No consistency rule 

Is The FundedX Payout Possible?

After all the negative reviews, it’s clear traders can expect problems with payouts. Some of the main details that can prevent traders from withdrawing their funds are unclear trading conditions.

To be fair, the company might present traders with any excuse they want to prevent them from accessing fully funded accounts. In general, that’s the only thing that makes legitimate firms like Funded Trading Plus more popular than this one.

Conclusion: Are Prop Trading Firms Worth The Money?

If you ever traded with a legitimate prop trading firm you would realize it’s absolutely worth it. Primarily, you are not exposing your money to the market. Secondly, you get adequate education with trusted trading firms. Unfortunately, with FundedX company that’s not the case. 

Luckily, all traders can opt for far more trusted companies like Funded Trading Plus. Firstly, they offer much better conditions and require much lower fees. So, why throw money away with a company that has that many negative reviews? Simply, when you choose the right company from the beginning, there’s no need to change it in the future.

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