Evaluation Challenge Prop Firms

These prop firms offer traders a chance to prove their trading skills before being given real capital. These are usually low cost options as their is less risk to the firms.

MyFundedFx logo

Prop Firm Review: MyFundedFX

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MyFundedFx logo

Promo Code Alert: MFFX

Best suited for: MyFundedFx has some of the best profit targets available in the industry at just 6% and 5% for stage 1 and 2. This would suit traders who struggle to hit the 10% profit in 30 days with some other firms. 

Overall Ratings

  • Models on offer: 98/10
  • Cost: 98/10
  • Rule Fairness: 8/10
  • Support: 7/10
  • Profitability: 8/10
  • Scaling System: N/A
  • Overall: 8.0/10
Join MyFundedFX

MyFundedFx - Overview

MyFundedFx is a relatively new prop firm which has been gaining popularity due to taking the profit targets and drawdown rules a step below the rest. Whether this model is sustainable is yet to be established, especially since there is no mention of investors. Nether the less, if you have been struggling to meet the requirements of other prop firm challenges, be sure to check this firm out.

Prop Firm - Pros

  • Easy to reach profit targets – To pass phase 1 the trader must hit a 6% profit target, with just 5% for phase 2. This is much lower than other competitors.
  • Great for aggressive traders – The aggressive version of the challenge has a huge 20% max drawdown with a 10% daily drawdown. This gives traders a lot of room to let the trade play out.
  • Good website design/UI – The looks, feel and design of the website and UI are fantastic, and it appears a lot of work has been put into this. 
  • Discord community – MyFundedFx has an active and lively discord community, which is a great place to exchange trading ideas and see payment proofs. 

Prop Firm - Cons

  • No scaling system – MyFundedFx is one of the few firms that does not currently offer a scaling system. 
  • Less established firm – This is a newer prop firm and they do not share many details about their operation. Traders should proceed cautiously and perhaps try a smaller account size first. 
  • Only MetaTrader 4 – This prop firm currently only offers MetaTrader 4 as their platform.

Key Details

What Funding Models do MyFundedFX offer?

MyFundedFx offers Solely evaluation accounts. Traders are given a choice of two options, “Normal” or “Aggressive”:

Normal Evaluation

Phase 1 profit target: 6%

Phase 2 profit target: 5%

Maximum daily loss: 5%

Maximum overall loss: 10%

Aggressive Evaluation

Phase 1 profit target: 12%

Phase 2 profit target: 10%

Maximum daily loss: 10%

Maximum overall loss: 20%

MyFundedFX Rules and Restrictions

As with any prop firm, MyFundedFx sets a number of rules traders must follow. Read on for an overview of these rules:

  • Expert Advisers – EAs are only allowed to be used if they are designed by the trader. Third party EAs are not allowed. 
  • Holding over weekend – Traders are allowed to keep positions open over the weekend in the evaluation phases. In live accounts all positions must be closed by close on Friday, with the exception of aggressive accounts who may keep trades open over the weekend. 
  • Holding trades overnight – All positions are allowed to remain open overnight. 
  • Minimum trading days – There is a requirement for 5 minimum trading days for both phase 1 and phase 2 of the challenge. 
  • Time Limits – Traders are given 30 calendar days to complete phase one and 60 days to complete phase 2. This is standard across the industry.
  • Trading styles – MyFundedFX allows all trading styles, however, as with all prop firms, any strategies that attempt to cheat the system i.e. opposite account arbitrage, will result in account termination. 

MyFundedFX Profit Sharing and Scaling

MyFundedFX offer a 75% share of the profits for standard accounts with an addition 10% for aggressive accounts. 

MyFundedFX does not offer any scaling opportunities at the moment. 

Cost Analysis

The cost of the challenges with this prop firm are aligned with other similar challenges such as My Forex Funds evaluation accounts. See the table below for exact prices.

MyFundedFX Price List

Account Size Normal Aggressive
$5k €50 €90
$10k €100 €175
$25k €200 €350
$50k €300 €500
$100k €500 N/A
$200k €950 N/A

Conclusion

Overall, MyFundedFX has a lot to offer traders. The profit targets are extremely reasonable as are the rules. They have an active community and seem to be making a splash in the prop trading world. There are a couple things that could be implemented to improve this firm however, such as, providing more transparency around the company information and financials; as well as, creating a scaling plan for profitable traders. 

With that said, we would certainly advise this firm to traders and hope to be able to update our review in the near future.

Join MyFundedFX

Frequently Asked Questions

Does MyFundedFX allow copy trading or EAs?

This prop firm only allows EAs that have been designed by the trader. It does not allow third party EAs. 

It does not allow copy trading – all trades must be the traders own choices.

Does MyFundedFX offer a demo or practice account?

MyFundedFX does not offer anything in the way of demo or practice accounts.

What Broker does MyFundedFX use?

MyFundedFX uses the foreign exchange clearing house (Welcome to The Foreign Exchange Clearing House | FXCLR) as their broker. 

What Platform do MyFundedFX offer?

This firm only offers metatrader 4 as their platform. They plan to introduce metatrader 5 in the future.

Is MyFundedFX legit?

Yes! Whilst this is a reletivly new prop firm, there have been numerous traders who have testified to receiving payments. 

This firm also does not “offer the world” as many less legitimate prop firms do. This is a good sign they intend to provide sustainable services to traders.

Does MyFundedFX have a promo code or any discounts?

We have been given the follow code to provide to traders to receive 7% of all challenges: MFFX

Where is MyFundedFX based?

MyFundedFX is based in the USA, Texas.

When does the challenge start?

The challenge starts as soon as you place your first trade.

FTUK Logo

Prop Firm Review – FTUK

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FTUK Logo

Coupon Code Alert: Proptradinonline

Best suited for: This is a great option for UK traders. They offer great prices with a fast-scaling plan. The time limits are also very fair, which would suit traders who don’t like to be rushed.

Overall Ratings

  • Models on offer: 9/10
  • Cost: 9/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.3/10
Join FTUK

Overview

FTUK is an established London based prop firm offering up to £4.4 million of funding to traders. They have an extremely fast scaling system and offer a single-phase evaluation or instant funding accounts. They have regular promotions so there is always a great deal available.

Prop Firm - Pros

  • Multiple Currencies – This prop firm offers multiple currencies for your base currency. This is great for traders to be able to trade the currency of their own country. 
  • Super Fast Scaling – FTUK will double your account size at every 10% profit, this is among the best in the industry. 
  • UK Based – This prop firm in based in the UK which holds companies to stricter regulations than most other countries. 
  • Huge Max Funding – FTUK offer up to £4.4 million in funding, reachable in just 8 steps!
  • Regular Promotions – It appears that this prop firm has at least one promotion on every month, such as 1 free retake or xx% off. 
  • Long Time Limits – In the low-risk plan you are given a massive 180 days in which to complete the single-phase challenge. This should be achievable for most traders. 

Prop Firm - Cons

  • 5% Absolute Drawdown – This drawdown means traders must be extra cautious and implement a solid risk management plan.
  • Possible Account Termination If Inconsistent – FTUK has a clause which states if a trader does not demonstrate good risk management, they may be removed from the firm. This shouldn’t affect responsible traders, however. 

Key Details

What Funding Models do FTUK offer?

FTUK offers two types of funding models – Instant funding or Single-phase evaluation. Within both of these they offer low-risk or aggressive, which has different time limits and profit target rules. 

The aggressive accounts have a 25% profit target and 90 days to complete the challenge. It allows traders to use up to 100:1 leverage. No stop loss is required with this challenge.

The low-risk accounts have a 10% profit target and 180 days to complete the challenge. It allows traders up to 50:1 leverage. A stop loss must be placed with every trade, with a maximum risk of 1.5%.

The instant funding accounts allow traders to earn from the first phase of the challenge, with profits becoming withdrawable after reaching the initial profit target.

FTUK Rules and Restrictions

FTUK allows all trading styles but puts an emphasis on keeping good risk management. Some of the rules include: 

  • Holding Trades – Traders are allowed to hold trades overnight and over the weekend.
  • Stop Loss – A stop loss is required on all low-risk programs and must be under 1.5% of the total capital on the account. No stop loss is required on the aggressive accounts.
  • News Trading – FTUK allow news trading.
  • EA’s – Expert advisers are allowed providing they don’t use martingale, hedging or other arbitrage tactics.
  • Minimum Trading Days – There are no minimum trading days for this prop firm.

FTUK Profit Sharing and Scaling

FTUK offers a fast and efficient scaling plan in which your capital is doubled at every 10% profit. As you progress through the stages, your share of the profits also increases from 50/50 up to 80/20. 

In order to cross from step 7 to step 8 an extra payment is required when signing up for the challenge. 

Cost Analysis

Prices start from £119 for a £10,000 evaluation account. For the £10,000 instant funding account the price is £150. 

The prices are in line with other prop firms, especially considering it is a single-phase challenge which more traders should be able to pass. Don’t forget to keep an eye on promotions and discount codes as well. 

FTUK Pricing

Cost
Balance Instant Funding Evaluation
£10,000 £150 £119
£30,000 £299 £410
£40,000 £349 £550
£70,000 £449 £950

FTUK also offer a number of addons in order to improve your experience. These include:

  • Level 8 funding. This adds another level to scale up to £4.4m. (+10% fee)
  • Double max trading days. This doubles the max time limit for the challenge. (+15% fee)
  • Joining fee refund. This allows you to claim back the joining fee after reaching the first profit target. (+25% fee)
  • Evaluation retake. This provides one free retake if you should fail the challenge. (+50% fee)

Conclusion

In conclusion, this is a great prop firm with huge earning potential for experienced and risk aware traders. It offers some of the highest capital allocation in the industry with fair rules. 

I would advise against this firm for newer, less experienced traders or those who perform “gambling” trading as the drawdown and consistency rules will not align with those traders. 

Join FTUK

Frequently Asked Questions

Does FTUK allow copy trading or EAs?

Yes, FTUK allows EAs as long as they don’t perform in the following ways: 

Martingale
Tick scalping
Reverse arbitrage trading
Latency arbitrage trading
Hedge arbitrage trading

Does FTUK offer a demo or practice account?

Demo/practice accounts are available directly from the broker which FTUK chose, Eightcap.

What Broker does FTUK use?

FTUK uses Eightcap as their broker which is a popular choice for prop firms and has a great reputation with regards to liquidity, spreads and upkeep. 

What Platform do FTUK offer?

FTUK uses MT4 (Metatrader 4) for all their accounts. 

Is FTUK legit?

Yes! This prop firm has an established client base, a UK registered company, company address and a 4.7 star Trustpilot rating. You can be confidant that your investment is safe with this prop firm.

Does FTUK have a promo code or any discounts?

Yes, we have been given the following code for traders to receive 5% off: Proptradingonline

Where is FTUK based?

FTUK is based in London, UK. The registered address is:

Kemp house, 160 City Road,
London, United Kingdom, EC1V 2NX.

step 2 trade the pool

Trade the Pool Review

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The 5%ers are an experienced and trusted prop firm which has been funding traders for over 5 years. They have excellent industry knowledge and have now branched out and started a new brand – Trade the Pool.

Trade the pool offers traders access to nearly the entire stock market which is extremely rare in the prop trading world. In this review we will look at what this prop firm offers in detail and work out if its as good as it looks. 

The funding model - Overview

Trade the Pool is operating a single phase challenge model to receive funding. The main selling point of this program is that they offer unlimited buying power! Therefore traders are only limited by their daily/overall loss limits. Lets take a look at some of the challenge parameters:

Super Buying Power ($240)

  • Daily Loss Limit: $700
  • Profit Target: $4200 (6 times DD)
  • Max Overall Drawdown: $2100 (3 times DD)
  • Payout Split: 50/50
  • Minimum Trades: 50
  • Time Limit: 1 Month

Extra Buying Power ($415)

  • Daily Loss Limit: $1300
  • Profit Target: $7800 (6 times DD)
  • Max Overall Drawdown: $3900 (3 times DD)
  • Payout Split: 55/45
  • Minimum Trades: 50
  • Time Limit: 1 Month

Ultimate Buying Power ($1180)

  • Daily Loss Limit: $2000
  • Profit Target: $12000 (6 times DD)
  • Max Overall Drawdown: $6000 (3 times DD)
  • Payout Split: 65/35
  • Minimum Trades: 50
  • Time Limit: 1 Month

This firm also has an alternate way of scaling. Since buying power is already limited, you can scale your max daily loss instead. We will look at this in more detail below.

Trade The Pool step 1

Trade the Pool's Pump and Dump scaling

Pump

As mentioned, you have unlimited buying power when trading. Therefore traders are only limited by their loss limits. If you can prove you can manage the risk while making profits, Trade the Pool will increase your loss limits each time certain conditions are met. These conditions are:

  •  5 Consecutive winning days
  • Total profit over the 5 days must be over 3 times your daily loss.

For example: if your daily loss is $700, you must make at least $2100 over 5 days, while ending each day in profit.

Dump

The dump is the operasite of the pump. It can only be implemented if you have already received a pump. Therefor your daily loss will not fall below your inital level. The dump will occure when:

  • 5 Consectutive losing days
  • Total loss over the 5 days exceeds 2 times your daily loss

For example: if your daily loss is $700 and you make a loss of $1450, while ending everyday in a loss, your daily loss limit will be decreased.

Pump/Dump Rates:

The amount your account’s daily loss limit will increase or decrease depends on the type of account you bought. 

  • Super Buying Power ($240) – 5%
  • Extra Buying Power ($415) – 8%
  • Ultimate Buying Power ($1180) – 15%
step 2 trade the pool

Trade the Pool's Rules

As this is a totally differant prop trading experience, you can expect slightly differant rules than you may be used to. We’ve looked through the website and the fine print and will outline all the rules that you need to know below.

Profit Target/ Completing the challenge

To complete the challenge phase and become funded you must complete both the required profit target as well as the minimum trades.

Your profit target is 6 times your daily loss limit. For example, if your loss limit is $700, to get funded you must reach $4200 in profit.

The minimum trade requirement is a flat 50 for all accounts.

Risk Management

The maximum amount of allowed risk per trade is 30% of your daily loss limit. This would imply that a stop loss is required for all trades, however this is not mentioned on their website.

Drawdowns

The initial daily drawdown allowance depends on the choice of program. It starts at $700, $1300, $2000.

The max drawdown is simply 3 times this amount, $2100, $3900, $6000.

As mentioned previously this can be increased/decreased depending on performance. 

When can I trade?

You may only trade while the US stock market is open. Therefore you can begin trading at 9.30 ET and must be finished by 15.55 ET (5 minutes before close).

Holding trades

With this prop firm all trades must be closed by the end of the day (15.55 ET). This therefore only allows for day traders. 

Trading Instruments

You can trade almost any stock and ETF in the US markets. There are over 3000 instruments available. The entire list can be found on the website.

step 3 trade the pool

Other things to know

Start over button

If you reach your daily loss for the day, but want to continue trading you can pay a fee to reset your daily loss allowance and continue trading. 

Redemption fee

If at the end of the 4 weeks you havn’t hit the profit target/min trades, you can pay a redemption fee and continue trading for longer.

Ruby – Trading edge

Traders will have access to a program called Ruby, which will notify the second any important or newsworthy event happens. Traders can use this to make quick fire decisions on the future of a stock. 

PropTrading.online Verdict

This is certainly an interesting proposal by a very well regarded prop firm. The unique style of this is typical from the 5%ers who like to push the boat out and bring traders new and exciting experiences. 

On the surface this looks to be a great opportunity for those who are more experienced trading with stocks as opposed to forex/commodities/indexes which are the normal instruments most prop firms are limited to. 

The unlimited buying power is an interesting concept, however while coupled with restricting loss limits it does seem more of a gimmick or possibly a method to trick less experienced traders to overleveraging. For the experienced trader however it does open some doors and provides some great opportunities for earnings. 

We would like to see some more information provided on the website as alot of important information and rules appear to be missing, or are not available until after a purchase. Information that we couldn’t find include:

  • Stop Loss rules
  • Rules around bots/automatic trading
  • Copy trading rules
  • Payout times or methods
  • Any rules around consistency
  • Full list of terms and conditions

With that said, we are happy to recommend this prop firm due to their reputation, but advise proceeding with caution due to lack of information on their website. 

Visit Trade the Pool

To visit Trade the Pool, click on the image below and hit the “Trade the Pool” option. Alternatively click the button below. 

Visit Trade the Pool
Trade the Pool
surgetrader logo

Prop Trading Review – SurgeTrader

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Review under construction, Check out surgetrader website here

surgetrader logo

Best suited for: This prop firm offers huge accounts from the get go, all the way up to $1 Million. They only require a single phase challenge with no minimum days. This firm would suit an experienced trader who wants large capital fast.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 9/10
  • Profitability: 10/10
  • Scaling System: 8/10
  • Overall: 8.5/10
Join SurgeTrader

Surgetrader – Pros

  • Massive account sizes – Option to go for a $1 million account right off the bat.
  • Doesn’t restrict trading styles – Surgetrader allows pretty much any trading styles including copy trading, EA’s and Algos
  • USA Based – Based out of Florida, this company benefits from access to great funding and tighter security measures.
  • Single Phase Challenge – Just one phase to pass with a 10% Profit target.

Surgetrader – Cons

  • Tight Drawdowns – 5% overall drawdown which trails, as well as 4% daily drawdown. Traders must use strict risk managment to ensure these arent breached.
  • Not the cheapest – There are other cheaper options out the, most however are 2 phase models which must be taken into account

Key Details


Surgetrader prop firm offers a single phase “audition” in which the trader must reach 10% profit target while staying within the rules. Once the 10% profit target has been reached, the trader will receive live funds.

Max drawdown is 5%.

Max Daily drawdown is 4%.

A stop loss must be placed on all orders.

Trades must be closed by close on Fridays.

Maximum lot size rules.

 

Expert advisors, copy trading and algo trading is all allowed with this prop firm.

75% to the trader, 25 % to the prop firm

Surgetrader has excellent support, they offer live chat, email and phone.

Prices range from:

$250 for a $25k account 

$400 for a $50k account

$700 for a $100k account

$1800 for a $250k account

$3500 for a $500k account

$6500 for a massive $1 million account

Forex, Metals, Oils and Indices receive up to 10:1 leverage. Individual stocks receive 5:1 leverage. Cryptocurrencies receive 2:1 leverage.

Conclusion 

Surgetrader is one of the few prop firms offering a massive $1 million live funded account. The drawdown rules are relatively strict however. If you are already a consistent trader looking for massive capital, this is the firm for you. For beginners there are better options out there.

FTMO prop firm

Prop Firm Review – FTMO

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FTMO prop firm

Best suited for: FTMO are often regarded as the best in the industry; They designed the standard 2 phase challenge model. This prop firm would suit those who want a tried and tested company with a great reputation.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 9/10
  • Scaling System: 7/10
  • Overall: 8.0/10
Join FTMO

Overview

FTMO is often the number one prop firm in peoples list. Its easy to understand why; the easy to follow design, the great reputation, the years of experience and the massive $400k option. The one thing FTMO lacks in is a direct funding model which many other firms are offering traders. 

Prop Firm - Pros

  • Many Base Currencies – FTMO offer accounts in a number of different currencies while most other firms offer only US dollars.
  • Been around a long time – FTMO lead the way for the prop firm industry. Their 2 phase challenge model has been replicated by dozens of firms. This experience and reputation is certainly a reason why so many people sign up to FTMO as their prop firm of choice.
  • Great Payout Split – As soon as you receive your funded account you will benefit from an 80/20 payout split (In your favor). After 4 months if you have been consistently profitable, not only will your account increase, you will receive a 90% profit split also!
  • CTrader! – FTMO is one of the few prop firms that allow you to use CTrader. CTrader is an excellent platform for manual trading, packed filled with features and has a great UI.

Prop Firm - Cons

  • News Trading – FTMO does not allow trading around the news (2 minutes either side). This will inevitably catch out less experienced traders or those who don’t follow the fundamentals as closely. 
  • Slow Scaling – Accounts are only able to scale every 4 months, based on performance. Some other firms offer scaling at every 10% profit intervals or such. This can be countered by purchases more accounts, however the maximum capital allocation is set at $400k.

Key Details


Standard 2 Phase challenge model. There are a few variants however, such as agressive and swing trading options, designed to tailor your challenge to your trading style. 

Phase 1 – Hit 10% profit target to proceed. Max drawdown is either 10% or 20% dependent on option chosen.

Phase 2 – Same rules as phase 1, however this phase has a profit target of just 5%. After this you will receive a live funded account.

FTMO do not allow traders to trade within 2 minutes of any major news event. They also do not allow holding over the weekend  unless you have chosen the swing option.

  • Max daily loss –  Either 5% for normal challenge or 10% for the aggressive challenge.
  • Max total loss – 10% for normal Challenge or 20% for aggressive challenge
  • Minimum trading days – 10 days for both phases of the challenge.
  • Max time allotted – 30 days for phase 1, 60 days for phase 2. Re-sit possible if in profit and end of challenge.

FTMO Allows expert advisors, copiers, bots and any other type of trading style.

FTMO offers a 80/20 profit split to start of with. They increase this to 90% after you have scaled your account.

FTMO has great support, many traders testify to this on sites like Trustpilot. They’re systems are also extremely well designed and automated, so there is often little need for support.

The prices start at 155 Euros for a $/£10k challenge. The $200k challenge costs 1080 Euros.

Leverage is 1:100 for standard accounts and 1:30 for swing accounts

Conclusion 

Overall, FTMO is a great choice and a perfect starting point for those looking for the standard challenge model. Just be aware of the news trading rule and take your time.

Frequently Asked Questions

When does my FTMO challenge start? 

After making payment for your FTMO challenge you will receive an email within a couple of hours. 

The email will confirm the details of your challenge and will include login credentials for the chosen platform. 

Where is FTMO based? 

FTMO is based in Prague, Czech Republic. The full address is:

Prague 1,

Purkynova str. 2121/3,

110 00,

Czech Republic

Can anyone join FTMO?

The only requirements for joining FTMO are that:

  • You are over 18 years old
  • You are not from/located in Iran, Syria or North Korea

Other than that FTMO welcomes anyone with any level of experience. It must be noted however that in order to be successful traders should have a good understanding of:

  • Position sizing
  • Fundemental and Technical analysis
  • Risk Management (Most important)
  • Understand leverage
  • Basic understanding of the Forex/Commodity markets
  • Have a developed and tested strategy
  • Have some experience trading, even in a demo account
  • An intermediate level of Math

All the above can be learned online from various sources for example, YouTube, Google, Trading Websites and EBooks.

If I fail the challenge do I get a second chance?

If you breach any of the trading rules such as:

  • Balance or Equity falls below daily/max drawdown levels
  • You traded within 2 minutes of a news event
  • Try to cheat the system in any way

Then your account will be disabled. Under these circumstances you will not get another chance unless you purchase another challenge. The only exception is if all trading rules have been followed but you haven’t reached your profit target, FTMO will allow one 14 day extension of the challenge.

How do I get my share of the profits?

By default, 14 days after making your first live trade you will have the option to withdraw your profits. You are given the choice if you would like to change this payment date. From then on payments will be made every month. 

The options to withdraw your profits are: Wire transfer, Skrill or crypto.

The Funded Trader Prop Firm

Prop Firm Review – The Funded Trader

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The Funded Trader Prop Firm

COUPON ALERT: 2MX6IMHZUO (5% off)

Best suited for: This prop firm has a great community feel to it and would suit a trader who likes to be surrounded with like minded individuals.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 7/10
  • Rule Fairness: 8/10
  • Support: 9/10
  • Profitability: 9/10
  • Scaling System: 7/10
  • Overall: 8.3/10
Join The Funded Trader

Overview

The Funded Trader is a relatively new and exciting prop firm based in USA. They are certainly one of the more fun prop firms around and have a tight nit community feel. They are one of the few firms around who regularly interact with their traders in person, often flying them out for all expense paid exciting weekends. On top of that the management appear to have a great grasp on the industry and are committed to moving the company, and traders, forward. They certainly earn their place in the top 5 prop firms!

Key Details


The Funded Trader deploys the standard 2 phase challenge model. They do however have two variants of this: Standard challenge and Rapid challenge.

The rapid challenge has a reduced profit target at the expense of a reduced max drawdown. Their is also no minimum trading days with the rapid challenge.

Both Models

  • Weekend/Overnight: Allowed
  • News Trading: Allowed
  • Expert advisors: Not Allowed

Standard Challenge

  • Profit Target: 10% (Phase 1) 5% (Phase 2)
  • Max Drawdown: 12%
  • Daily Max Drawdown: 6%
  • Minimum Trading Days: 5

Rapid Challenge

  • Profit Target: 8% (Phase 1) 5% (Phase 2)
  • Max Drawdown: 8%
  • Daily Max Drawdown: 5%
  • Minimum Trading Days: 0

The Funded Trader does not allow the use of expert advisors, bots or copy traders.

The Funded Trader offers 80% profit split which will increase to 90% upon scaling.

The Funded Trader have great and responsive support. They have an active discord community as well as live chat.

The cost of challenges ranges from $299 for a $50k account to $1898 for a massive $400k account.

Leverage is 1:200 for standard challenges and 1:100 for rapid challenges.

Conclusion 

Overall, this prop firm has a bunch of exciting features and would suit a someone who enjoys engaging in the trader community. Their $400k account also allows experienced traders to make some huge profits, as evident by their recent 6-figure payouts. This is definitely a prop firm to watch out for!

 

Frequently Asked Questions

Is The Funded Trader Legit?

Yes! The funded trader has many happy traders in its discord who aren’t shy about sharing how much their making. The are hundreds of payment proofs provided by traders in their discord group.

The FUnded trader payout proof

 

Does The Funded Trader use MT5?

Yes, The Funded Trader offers traders MT4 or MT5 platforms.

What broker does The Funded Trader use?

The Funded Trader has moved all its accounts over to Eightcap, a leading broker.

Does The Funded Trader allow EA’s?

The Funded Trader does not allow EA’s in any form.

Where is The Funded Trader Located?

My Forex Funds is located in Texas, USA.

Can I Request payment in crypto at The Funded Trader?

Yes, The Funded Trader allows payment to be made in crypto as well as traditional payments facilitated by DEEL.

Top Tier Trader

Prop Firm Review – Top Tier Trader

admin
Top Tier Trader

Best suited for: Very similar model to FTMO with a few minor differances in rules. The main one being that they allow news trading where as FTMO does not. Therefor it would suit a trader who wants the standard FTMO model but likes to trade around the news.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 8/10
  • Scaling System: 7/10
  • Overall: 8.3/10
Join Top Tier Traders

Overview

Top tier trader offers the standard two phase model with very similar rules to FTMO. They offer free competitions as well as a leaderboard. 

Top Tier Trader – Pros

  • Refundable fee – After passing verification the initial fee is refunded to the trader.
  • Free Monthly Competition – They offer a completley free competition every month where traders can with prizes

Top Tier Trader – Cons

  • Nothing Unique

Key Details


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Conclusion 

 

lux trading logo

Prop Firm Review – Lux Trading

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lux trading logo

Best suited for: This firm has a great mentorship/educational aspect to it. Therefore it will suit a newer trader who is looking to grow and progress into a successful trader.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 7/10
  • Rule Fairness: 9/10
  • Support: 9/10
  • Profitability: 8/10
  • Scaling System: 9/10
  • Overall: 8.5/10
Join Lux Trading

Overview

Lux trading firm is a UK based prop firm with some exciting features. Lux has a much more hands on approach with traders, helping them grow and progress . They offer an amazing elite package which includes a trip to their live trading rooms and gives you a chance to meet the investors who’s capital you will be using. 

Key Details


When signing up to lux trading, you have the option of a $5k, $10k or $15k initial balance. 

Example $5000 account

Phase 1 – $5000 Demo account – Profit target 6%

Phase 2 – $5000 Live account – Profit target 6%

Phase 3 – $50000 Live account – Profit target 10%

You then scale up at every 10% profit.

You also have the option to sign up as an elite trader. This is far more expensive but comes with a range of benefits including:

  • Evaluation account and 3 resets
  • Live trading room
  • One on one coaching sessions
  • Personal risk manager
  • Education videos
  • In person training in Monegro including accommodation
  • Traders Central software

Lux trading expects traders to trade responsibly and with exceptional risk management. Therefore the rules are relatively strict compared to other firms. Some rules include:

  • Max relative drawdown 4%: This is based on the highest account balance and is effected by equity and balance.
  • Stop Loss – Every trade must have a stop loss attached
  • Trading styles -All trading styles are allowed
  • Time limits – No time limits

Expert advisers are only allowed if they are created personally.

75% to the trader.

Lux trading firm has exceptional support, especially after phase 2 where you will be assigned a personal risk manager to help you progress as a trader. They also operate a live trading room which traders can benefit from. 

For standard accounts:

$5000 – £329

$10000 – £439

$15000 – £549

For elite packages:

$5000 – £1999

$10000 – £2499

$15000 – £2999

Evaluation, Advanced, and the Professional 50k, 100k, or 150k Accounts have a leverage of 1:10 on Forex and Metals, 1:5 on Indices, Commodities, and Bonds, and 1:1 on Shares.

Conclusion 

Lux trading firm is definitely not the cheapest, but if your serious about trading they are certainly a great choice. If you’re looking to get into the industry and have the money to spare, the elite package is unparalleled in the industry.

blufx logo

Prop Firm Review – BluFX

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blufx logo

Best suited for: BluFX is a long standing, subscription based prop firm with low leverage and a 50/50 profit split. They offer CTrader which many traders prefer to Metatrader.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 7/10
  • Rule Fairness: 7/10
  • Support: 8/10
  • Profitability: 6/10
  • Scaling System: 8/10
  • Overall: 7.8/10
Join BlueFX

Overview

BluFX has a different approach to many others on this list. They give traders instant funds as soon as they sign up – no challenges! Instead of a one time fee the trader pays a monthly subscription of either £99 per month for the standard model or £249 for the pro version.

Key Details


BluFX offers instant funding to traders and does not require any kind of evaluation. They do however have a number of rules which must be followed on the live account.

BluFX is also currently offering and special model called the anniversary model. This model differs from their standard subscription based model, in which only a one time fee is payable for an immediate live account. 

  • Max drawdown – BluFX has a 10% max drawdown
  • Trading hours – The standard account has restricted trading hours
  • Hedging – BluFx does not allow hedging
  • Overnight – Allowed

Allowed on request.

BluFX offer a 50/50 profit share.

BluFX has a great support team. They also have great educational resources. 

Basic program costs £99 per month.

1:3

Conclusion 

Blufx offers a great deal for the more risk aware trader who doesn’t mind low leverage.

Traders with edge logo

Prop Firm Review – Traders with Edge

admin
Traders with edge

Best suited for:  This prop firm offers an excellent scaling model in which would allow a consistent trader to build a huge account with relative ease.

Overall Ratings

  • Models on offer: 8/10
  • Cost: 9/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.7/10
Join Traders with Edge

Overview

Traders with Edge is a new prop firm which has some exciting funding models available at great prices. They have appeared to invest heavily into the infrastructure of the company and certainly have skin in the game. This firm are likely to shoot to the top and join the other heavyweight prop firms – so take advantage of the low entry prices while their around! 

Traders with Edge - Pros

  • Cost – They have extremally competitive prices and are currently running a 20% off promotion.
  • (Almost) No Time Limit challenge – Their turtle challenge has 12 whole months in which to reach the 10% profit target which is definitely giving the disciplined trader the best possible chances of passing.
  • Fast Support – I was connected to live chat within seconds who were helpful, polite and answered any questions I had.

Traders with Edge - Cons

  • New Company – Being a new company there isn’t a lot of reviews and feedback to analyze. This is likely to change soon as the company grows.
  • Minimum Trading Days – They have a rule which might catch a few traders out; The minimum trading days cannot be filled with very small trades like FTMO and others. Traders must continue to trade their strategy as normal despite hitting the profit target.

Key Details


This prop firm offers two distinct funding models: Turtle and Hare.

Turtle 

This model is designed for those who like to take it slow and steady. They offer a generous 12 months to complete the challenge so time shouldn’t be an issue. Another bonus is that it is only a single phase before receiving a live account. 

Hare

The Hare model is based on the more traditional 2 phase challenge. With this model you get increased leverage and more relaxed max drawdown/daily drawdown. 

 

  • Profit Target – The profit target is pretty standard at 10% and 5% for phase 2(hare model)
  • Max drawdown – The max overall drawdown is 5% which is on the lower side but it should be manageable with proper risk management. This is a trailing drawdown also which I’m not particularly a fan of. The Hare model has a 10% drawdown.
  • Daily Drawdown – The daily drawdown is 2.5% which resets at 9pm (GMT) This will restrict certain trading styles but with a bit of planning it should be too much of an issue. The hare model has a 5% daily drawdown
  • Minimum/Maximum Trading days – The time limit on this plan is 365 days, so no issues there. The minimum trading days is 10, and unlike other prop firms such as FTMO they do not allow you to fill these days with “token” trades e.g. 0.01 lots briefly open and closed. 
  • Profit split – The profit split is the standard 80/20.
  • Leverage – The leverage on the account 1:10 which is suitable considering the lower drawdowns. The hare model has 1:30 leverage.
  • Other rules – The company seem quite clued in on how people try to abuse the system and have a number of specific rules designed to counter this. I have had a look through them and none should affect the honest trader (Just read over the minimum trading day rules). 

Expert advisors require approval from Traders with Edge, as well as 3 months trading history.

Both funding models will benefit from a 80/20 profit split.

Live chat was available to speak immediately. They also appear to respond well to emails. 

Traders with edge offer one of the lowest entry costs to a prob firm. Their $5k turtle challenge costs just $55.

Their other challenges cost:

  • Turtle 10k – $100
  • Turtle 25k – $250
  • Turtle 50k – $450
  • Turtle 100k – $750
  • Turtle 200k – $1500
  • Hare 5k – $95
  • Hare 10k  – $180
  • Hare 25k – $280
  • Hare 50k – $390

Get an extra 20% of all challenges when completing the pop up survey!

The Turtle model has a leverage of 1:10

The Hare model has a leverage of 1:30

Prop Trading Online Trust Score

Overall Trust Rating - 9/10

Traders with Edge appear to be in this for the long term - with new features released consistently, open and transparent leadership and a growing community.

Leadership

The founder/CEO is Samuel Junghenn who has a great deal of experience in the industry. There are also an number of the team active on the community section and social media.

Investment in platform

The team at Traders with edge have clearly invested a lot of time and money into getting the company operational and improving their services.

Transparency

This company has a listed address, list of staff, multiple active social medias and plenty of information regarding the running of the company.

How long has the company been trading

Traders with Edge opened to traders at the start of 2022.

star rating

Conclusion 

Overall, this firm has a lot to offer, at a great price. For those seeking the standard two phase challenge, go with the Hare option. For those who like to trade without time restraints and who have great risk management, go with the turtle option.

Their unique scaling model is something to look into as it can provide some of the fastest scaling in the industry. 

Frequently Asked Questions

Where are Traders with Edge based?

Traders with edge operated out of Hong Kong, their office address is: 

Unit 1603, 16th floor, The L. Plaza, 367 – 375 Queens Road Central, Sheung Wan, Hong Kong.

What is Traders with Edge scaling model?

Traders with Edge offers two scaling models, one is the standard model, aka “organic scaling” the other is “Rapid scaling”.

Organic scaling – Receive a 25% boost to your capital if over 4 months you have over 10% profit and 2 out of the 4 months are profitable.

Rapid scaling – This involves leaving your share of the profits in the account (as well as their share), and receive regular boosts to your capital. With this option you can increase your trading capital all the way to $3 million! See chart below.

traders with edge scaling