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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
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.
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.
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