Trader Funding Program Review – High Fees Are Problematic

The company claims that prop trading is a game-changer for all traders who want to trade at a top-notch level. Accessing a large amount of capital is usually a big problem. Nevertheless, with prop trading platforms, limitations are removed.

In the end, it all comes down to one thing – if the payouts are possible. To find out what to expect from this prop trading firm, read this Trader Funding Program review carefully.

Legal Information: Who Is Behind Trader Funding Program?

The first thing traders have to realize is that the Trader Funding Program operates as an affiliate of Prop Account, LLC. The prop trading program is powered by Forex Analytics, which was founded in 2016 by Blake Morrow. However, this prop trading platform was registered in 2021 according to its domain age. 

Even though the company has been around for a few years, there are no Trader Funding Program reviews you can rely on. That’s especially problematic since the company doesn’t need any regulatory oversight.

How Does The Trader Funding Program Work?

Prop trading is designed to help traders get to funded accounts and access huge profit share companies offer. Of course, the first step is the evaluation phase. On the positive side, the Trader Funding Program account offers only a one-step phase. If you complete it successfully, you can become a funded trader immediately.

However, when you know you have to pay extremely high fees for trading on a demo account, the whole service becomes questionable, especially without any reviews available that would prove that the payout works. With this in mind, we invite you to share your experience with this prop firm and help other traders choose their partners properly. 

Trading Conditions

Trading conditions can greatly impact your trading strategies and results. That’s why knowing them upfront makes a big difference. With this firm, traders can expect fair leverage of up to 1:20 and commissions on CFDs and equity trading. Unfortunately, spreads and other trading-related fees are not disclosed.

When it comes to the Trader Funding Program profit split, you can get up to 90% if you pay for the add-ons. Also, you can pay extra to get holding over the weekend allowed. 

Prohibited Activities As The Key Problem

Once you check the list of forbidden activities, you might wonder why you trade here at all. Especially if you compare the services to those of other prop firms like Alpha Trader Firm. In any case, any violation of general rules can result in the challenge failing.

Consequently, you’ll have to pay the fee again to even get a chance for a funded account program. But even if you pass the evaluation, you won’t get the fee refunded, unlike with very popular and trusted Funded Trading Plus. 

In any case, the activities you have to watch out for are: 

• Exploiting errors
• Non-public insider information
• Front-running of trades
• Utilizing third-party strategies and many more.

These restrictions are quite speculative. If you think about it, both parties can profit from you. So, why restrict traders at all? 

What Is The Trader Funding Program Platform?

If you try registering with this company, you will realize it offers five different trading platforms: cTrader, MTR, XDTrade, and the highly questionable Platform 4 and Platform 5. These are most likely designed to mimic the highly popular MetaTrader 4 and 5. Thus, if you are a US trader and the company offers MetaTrader, its services shouldn’t be available to you.

In any case, with all these platforms, you will have different options, customization features, analytics, etc. Therefore, we suggest you learn more about those before paying any entry fees. While you think of all the options, we suggest you also read our very useful Hedgehog App review. 

Account Types Offered

Compared to the Funded Trading Plus prop firm, the entry fee requirements with this company are insanely high. Especially without a fee refund available if you pass the challenge. In any case, all accounts include pretty much the same conditions:

• 5% daily loss
• 6% max trailing  drawdown
• One trade every 30 days at least
• Stop-loss required for each trade
• Flat for the weekend (unless add-ons are paid)

The profit target for all accounts is 10% of the chosen amount. Therefore, once you complete the Trader Funding Program login process, you can opt for: 

• $25k funding – $250 fee
• $50k funding – $500 fee
• $100k funding – $1.000 fee
• $250k funding – $2.500 fee
• $500k funding – $5.000 fee
• $1M funding – $10.000 fee
  

Customer Support Availability

We would expect at least proper support with the services this company offers and unclear trading conditions, platforms, and so on. However, with only the chat feature through Forex Analytics, which is not always available, you can’t expect much assistance there, especially if you compare it to companies like Funded Trading Plus.

Summary: Is The Trader Funding Program The Right Deal?

Considering the quite high fees, poor support options, and lack of reviews, this firm is surely not among the best prop firms around. Fairly, you won’t be thinking about other options when you see companies like Funded Trading Plus offering evaluations with refunded fees, transparent trading platforms, and top-notch support.

This UK-based prop firm has more than 2,100 positive reviews on Trustpilot, while the Trader Funding Program has none. That’ll surely tell you a lot about the company’s services. On top of all, you need far less money to get started with Funded Trading Plus, which also offers great giveaways and promotions.

Also, you shouldn’t forget all the limitations in trading with the Trader Funding Program. All in all, when you compare these two companies, there shouldn’t be doubts about which one to choose. In the end, it’s your call. Just keep in mind that payouts with the Trader Funding Program are still questionable. To avoid any irregularities there, sign up with a proven Funded Trading Plus platform today.

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