- 4 min read
Updated: Aug 1, 2023
The Funded Trader is a reputable online prop firm that offers skilled traders the opportunity to trade with a funded account. With the ability to unlock accounts up to $600k, traders can enjoy the potential for larger profits compared to trading with a small account. Having earned a strong track record among online prop firms, The Funded Trader holds a rating of 4.7/5 on Trustpilot. If you're considering a prop firm for your trading needs and goals, read on for our comprehensive review of The Funded Trader to determine if it's the right choice for you.
About The Funded Trader
The Funded Trader is a USA-based Forex Prop Firm that offers funding to traders globally. With its headquarters in Texas, the company has gained a reputation for its attractive offers and commitment to supporting funded traders. Led by CEO Angelo Ciaramello, along with co-founders Nick D’Arcangelo and Blake Olson, The Funded Trader has been providing funding opportunities to traders since 2020, officially incorporating in May 2021. With a range of account types, reasonable evaluation phases, and a trader-friendly dashboard, The Funded Trader aims to empower traders to reach their full potential in the forex market.
What's Unique about The Funded Trader?
Profit Splits:
The Funded Trader stands out by offering competitive profit splits, with funded traders starting at an 80% split and potential to scale up to 90% by meeting performance criteria. Promotions with discount codes also provide opportunities for traders to access the 90% split.
Scaling Opportunities:
While the scaling plan at the Funded Trader is not as transparent as some other firms, it offers the chance to increase capital by 25% of the initial balance at various stages. Traders can steadily grow their account up to a maximum of $1.5 million, but specific rules, such as withdrawal requirements, add complexity to the process.
Trade Parameters and Profit Targets:
The Funded Trader sets trader-friendly parameters with profit targets ranging from 5% to 8% and drawdown limits that are generous compared to other reputable prop-trading companies. Additionally, there are no lot size restrictions for any of the challenges.
Affordability/Value:
The Funded Trader excels in offering exceptional value, with consistently low prices compared to other prop-trading firms. Access to their educational resources and trading community can prove invaluable, making the sign-up fees worthwhile even for those who don't reach a funded account.
Educational Resources:
With a thriving community and frequent updates on social media platforms like YouTube, the Funded Trader provides an abundance of educational content. Traders can learn from various trading strategies and participate in monthly competitions for a chance to win free accounts or significant discounts.
Pros and Cons of The Funded Trader
Pros:
Competitive profit splits, starting at 80% and scaling up to 90%.
Opportunities for capital growth through scaling.
Trader-friendly trade parameters with reasonable profit targets and drawdown limits.
Affordable pricing compared to other prop-trading firms.
Extensive educational resources, including a vibrant community and monthly competitions.
Reputable and trustworthy with positive reviews in the prop-trading community.
Well-established as a respected prop-trading company.
Cons:
Scaling process may be perceived as complex.
Limited tradable assets beyond forex.
Recent server issues being addressed.
Some traders express frustration with KYC protocols.
The Final Score
The Funded Trader stands out as a forex proprietary firm that offers enticing opportunities for traders seeking funding. With its competitive profit splits, exciting events and competitions, and a range of account types to choose from, the company aims to provide traders with the necessary resources to succeed. While it lacks a free trial or demo checking option and charges high commissions, The Funded Trader compensates with strong customer support, allowance of EA's and risk management tools, and reasonable evaluation phases. Traders who value a supportive and transparent environment, combined with the opportunity to retain a significant portion of their profits, may find The Funded Trader to be a suitable choice. However, as with any financial decision, it is advisable for traders to conduct thorough research and consider their individual needs and preferences before committing to a forex proprietary firm.
Getting Started
To get started with The Funded Trader, follow these steps:
Click here to visit The Funded Trader's website and use Discount Code: propup to receive your Prop Up Trading Discount. You'll find detailed information about their funding programs, account types, and services.
Review the account offerings: Take a look at the different account types available, such as the Standard Challenge, Rapid Challenge, and Royal Challenge accounts. Consider the account balance, challenge leverage, minimum trading days, profit targets, maximum loss limits, and other factors to determine which account suits your trading goals and risk tolerance.
Sign up and complete the evaluation phases: Once you've selected the desired account type, sign up for an evaluation. The Funded Trader typically requires traders to go through two evaluation phases. In Phase 1, you'll have a specific timeframe to meet the profit target while keeping the drawdown within the allowed limit. Phase 2 follows a similar structure but with different targets. Make sure to familiarize yourself with the evaluation requirements and adhere to the trading guidelines during this phase.
Use the provided trading platform: The Funded Trader uses the server of EightCap, a popular forex broker, for trading purposes. You may need to download their designated trading platform or use the provided credentials to access the EightCap server.
Trade responsibly and meet the evaluation targets: Throughout the evaluation phases, maintain disciplined and responsible trading practices. Aim to achieve the profit targets within the specified timeframes while managing risk effectively to stay within the drawdown limits. Consistency and adherence to the trading guidelines will increase your chances of successfully completing the evaluation.
Get funded: Once you pass the evaluation phases and meet the requirements, you will be eligible for funding from The Funded Trader. Enjoy the benefits of funded trading, such as profit sharing, access to various trading instruments, and ongoing support from the company.
Remember, it's essential to thoroughly understand The Funded Trader's terms and conditions, including any fees associated with the evaluation and funding processes. Additionally, consider reaching out to their customer support team if you have any specific questions or need further clarification.
- Prop Reviews
30 views0 comments
Recent Posts
See All
Our Experience Using Funded Trading Plus Prop Firm
40
10 Solid Reasons Why You Should Trade with AudaCity Capital (plus discount code!)
2
Comprehensive Prop Firm Review: Rebels Funding
1340
