Instant Funded Account Review: The Pros and Cons of This Prop Firm
We all love a good prop firm, especially when they offer instant funded accounts. If you add an 80% split on top of it, we can even say you got lucky. But before committing, you must do research, especially if everything sounds too good to be true.
That brings us to our Instant Funded Account review, where we evaluate the company in detail, providing you with necessary input on whether or not they are a good choice. The pros and cons of this prop firm are also provided so you can make informed decisions. Now without further ado, let’s start.
About Instant Funded Account
IFA is a proprietary firm that works through a private investment hedge firm. They offer up to an 80% split on profits and a partnership with a regulated broker. All evaluation challenges are single-step, which means you only need to pass one challenge to get funded.
IFA has had rapid growth as one of the world’s prop firms and they even offer 24/7 customer support in various forms. They are an official partner with International Traders Limited, a CFD brokerage. To learn more about this company, keep reading our Instant Funded Account review, and make sure to check out Marketlife Trading as well.
|Instant Funded Account
|Financial Authorities Warnings
|If Active on Social Media:
|On Instagram and YouTube
|United States, United Kingdom, India, Canada, Pakistan
|Potential issues with paying profits;
|Instant funding; MT4 and MT5;
Prop firms don’t require regulation because they are not in control of trader’s money, which means regulatory requirements fall onto the brokerage company they are partnered with. Since IFA is partnered with International Traders Limited, they claim ITL is a regulated broker. However, there is nothing about them on the Financials Services Authorities website.
Furthermore, after checking their T&C, it’s mentioned that a minimum of 15 trading days per month is required, and each day must have 5 trades means 75 trades per month. This can be very inconvenient for some traders so that’s why it’s crucial to check the Terms and Conditions before committing.
Instant Funded Account Features
Unlike many prop firms, they don’t provide difficult challenges. IFA has a very simple set of rules and all evaluation challenges are single-step challenges. This means there is only one challenge test and then you are funded. Or if you don’t want to go through the evaluation process, you can choose the instant funding account, where you get funded immediately.
The platforms you can trade on are MT4 and MT5, and the EAs are only available on them. IFA can also offer CTrader and TEFS evolution trading programs. There are over 2250+ instruments to trade, including all major and minor Instant Funded Account forex pairs, indices, bonds, energies, metals, and commodities. The use of ICMarkets allows CFD trading for all forex pairs.
The maximum leverage offered is 1:100, and the maximum overall loss allowed is $5,000. You have to be an experienced trader to do the evaluation, so make sure not to get into this blindly because even if you’re not trading with your capital, it’s still very risky.
Instant Funded Account Plans
The single-step evaluation challenge makes it easier to get funded and there are no monthly fees. Maximum funding per trader is $750,000 for both the instant and challenge accounts. There are no tests or challenges required for the Instand Funded Accounts and if you choose it, you will receive an instantly funded account to start trading.
The single-step evaluation process requires a one-time fee, which is as follows:
- $25,000 – £189
- $50,000 – £289
- $100,000 – £390
- $200,000 – £770
The Instant account is more expensive, as you get the funds immediately. Instead of paying an evaluation fee which will be refunded, you can get the funds right away for a fee but no refund. Check below:
- $14,000 – £285
- $80,000 – £1999
- $160,000 – £3499
- $240,000 – £4999
Instant Funded Account Reviews
The prop firm’s Trustpilot reviews look promising, however, there are mixed feelings. Even though the majority of the comments are positive, 15% are all 1-star and 2-star reviews. There are 106 comments in total, and as always, we’ve decided to check the unfavorable ones first.
Several traders regretted not checking the firm’s T&C, so they invested their money but failed to invest time and dedication. Unfortunately, one doesn’t go without the other, so make sure not to make a mistake like that.
There are also some saying customer support is slow and not very helpful. The worst thing is that several traders complained about not getting their profits once earned. The money goes in one direction and the company failed to pay out profits, indicating a huge red flag. Better to stay safe than sorry later.
Deposits and Withdrawal Methods
All live trading accounts must cancel all open positions before requesting a payout after logging into your member’s area. Bank transfers (DEEL) or cryptocurrency USDT are used for payouts. Client ID is not needed to request cryptocurrency withdrawals, only when requested by the broker do traders need to present identification.
The trader is entitled to keep 80%* of the profit they generate on the funded live account. Your payout will be eligible twice a week. You are also allowed to keep as much of the profit as you would like in the account as a cushion for drawdown. The evaluation fee you paid for the one-step challenge will be refunded as soon as you pass the challenge.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
In summary, the Instant Funded Account prop firm is not the best on the market and they use an unregulated brokerage company. There are better alternatives and in the end, you can always stop relying on shady agents like CashFX and give us a call. Our AI analysis bot can do wonders, and we sure know you could use one.
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What is Instant Funded Account?
Through an evaluation procedure or immediate funding alternatives, Instant Funded Accounts (IFA) provide traders with quick access to funded trading accounts.
Is IFA a Legit Proprietary Firm?
IFA is not regulated, although prop firms don’t require regulatory oversight. However, IFA is in a connection with an unregulated brokerage company.
What is Proprietary Trading?
In proprietary trading, businesses use their funds to trade in the financial markets to make profits for the company rather than for clients. This type of trading frequently provides traders with access to the company's trading capital.