Finotive Funding Review 2024
Website: www.finotivefunding.com
Min. Deposit: US$ 50
Leverage: 1:100
Trading Platforms: MT5
Regulation: Hungary
Headquarters: Hungary
Founded: 2021
Regulatory Licenses:
- Finotive Funding Kft — registered in Hungary company number 01-09-384153
Updated on March 25, 2024
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In our comprehensive review process, we meticulously examine and compare forex brokers based on a wide array of critical factors. Leveraging an extensive database of over 1000 brokers, our team conducts in-depth research, evaluating each broker's offerings, fees, trading platforms, regulatory status, customer service, and more. We aim to provide an unbiased and detailed analysis to help traders make informed decisions. Our assessments also include feedback from real users to ensure the reliability and authenticity of our recommendations.
What is Finotive Funding?
Finotive Funding distinguishes itself as a proprietary trading firm by offering traders the chance to manage significant trading capital, with account sizes reaching up to $200,000. Traders can retain as much as 95% of the profits they make. This opportunity spans across multiple financial markets, including forex, commodities, stock indices, and cryptocurrencies. Finotive Funding enables traders to leverage the firm’s capital after passing a specific challenge, requiring minimal personal investment while allowing them to trade professionally. Despite the potential risks associated with trading, this model provides a unique avenue for traders to excel.
Pros
Lower profit targets make it easier for traders to achieve success and obtain funding.
Competitive pricing and low registration fees enhance accessibility for a wide range of traders.
A high profit share of up to 95% greatly incentivizes performance.
MT5 support with Expert Advisors (EAs) allows for automated trading strategies.
A refundable fee structure upon becoming a funded trader lowers initial barriers.
Diverse challenge programs offer multiple pathways to funding.
Availability of a free trial allows traders to evaluate the platform without financial commitment.
Cons
The absence of strict oversight may raise concerns about trading discipline and risk management.
The challenge of becoming a funded trader can be daunting due to high competition and stringent requirements.
A limited range of tradable instruments may restrict trading strategies.
The lack of MetaTrader 4 platform support could be a drawback for traders accustomed to this popular platform.
Is Finotive Funding Legit?
Finotive Funding, with its headquarters nestled in Hungary, functions under the umbrella of Finotive Markets, which specializes in the Forex market. This proprietary trading firm is strategically structured to align with Hungarian legal standards, thereby reinforcing its adherence to the stringent norms and benchmarks set within the Hungarian regulatory landscape. This adherence is a testament to their unwavering commitment to upholding a high standard of operational integrity within the confines of Hungary's regulatory stipulations.
Proprietary Trading firms such as Finotive Funding, in contrast to regulated Forex Brokers, operate under a less stringent regulatory framework, meaning they do not fall under the direct scrutiny of financial industry regulatory bodies. This distinction underscores the critical importance of being well-informed about the inherent risks when engaging with such entities.
Is Finotive Funding Scam?
Upon examining the official website of Finotive Funding, we found no explicit indicators suggesting fraudulent activity. However, the inherently lower level of regulation surrounding Proprietary Trading Firms, as opposed to other financial institutions, poses a challenge in definitively asserting their legitimacy.
It is our professional advice to thoroughly acquaint yourself with the intricacies of Proprietary Trading and the risks it entails. Opting for a company that boasts a robust reputation and a track record of longevity can significantly enhance the stability of your trading endeavors. While Proprietary Trading carries a lower financial risk compared to engaging directly with your capital — since you primarily incur subscription fees rather than making substantial investments — it is imperative to navigate this landscape with a well-informed understanding of the potential financial repercussions.
Finotive Funding Challenge Evaluation Rules ▲
The focal point of our comprehensive review on Finotive Funding zeroes in on the evaluation criteria set for acquiring a Funded Trading Account. This segment delves into the specific tests designed to gauge one's trading prowess and risk management capabilities, alongside shedding light on the associated registration fees required for participation. For an in-depth exploration of these processes and their respective costs, consulting the official website of Finotive Funding is highly recommended.
At the heart of the Finotive Funding challenge lies the objective to validate your trading acumen. The evaluation is methodically divided into two segments, each tethered to profit objectives corresponding to your chosen account size. Phase 1 is characterized by more stringent regulations, whereas Phase 2 affords greater leeway, particularly in terms of drawdown limits, to assess the consistency of your trading strategies. Additionally, the firm extends options for a single-phase evaluation and immediate funding to accommodate varying trader preferences.
Account Balance and Registration Fee ▲
Prior to engaging with Finotive Funding, it is essential to determine the program type and account balance you aim to qualify for. The challenge conditions and the registration fee are contingent upon the selected account size. For a comprehensive comparison of fees across different account sizes, the relevant section on Finotive Funding’s website or in-depth reviews of their services serve as valuable resources.
Finotive Funding presents five distinct trading challenges: Classic, One-Step, Pro, Standard Instant Funding, and Aggressive Instant Funding. These challenges are primarily differentiated by their time constraints, profit targets, and trading regulations. For precise details, visiting their official website or perusing reviews is advisable.
In terms of capital requirements, Finotive Funding distinguishes itself by offering a spectrum of account balances that are both competitive and lower than those of its competitors. However, it is noteworthy that unlike other firms, the fees associated with Finotive Funding are non-refundable.
Finotive Funding avails a variety of account balances based on the program selected, ranging from $2,500 to $200,000, and even features a Finotive Funding Scaling option up to $3.2 million.
The challenge encompasses a set of rules that traders must adhere to in order to demonstrate their strategic acumen and performance efficacy. Among these parameters, the Profit Target stands out as a critical metric, with specific targets designated by Finotive Funding depending on the program and phase a trader is participating in. In the Standard Challenge, traders are tasked with achieving a 7.5% profit target in Phase 1 and a 5% profit target in Phase 2, whereas the One Step Program stipulates a 10% profit objective.
In the realm of proprietary trading, traders are mandated to adhere to pre-established loss thresholds, encompassing Maximum Loss and Maximum Daily Loss levels. Finotive Funding delineates Maximum Loss at 8% for Standard Instant Funding and 16% for Aggressive Instant Funding. In the Standard Challenge, both phases are subject to a 10% maximum loss limit, with the One Step Challenge imposing a 7.5% maximum loss. Daily loss limits are set at 5% for Standard Instant Funding, 10% for Aggressive Instant Funding, 5% for Standard Challenge, and 4% for One Step Challenge.
During the challenge phase, strict compliance with all established regulations is paramount. Deviations from these guidelines may result in the annulment of the test, necessitating a reset accompanied by a fee to recommence the challenge.
Finotive Funding imposes no restrictions regarding the trading period, thus eliminating any minimum trading duration requirement across all its funding programs.
Our investigation reveals that Finotive Funding offers a 7-day Free Trial account, empowering traders to familiarize themselves with the trading conditions and dashboard functionalities prior to making any financial commitments. This free trial provides access to the 100,000 1-step challenge, mirroring the trading conditions akin to those of a real account.
Upon successfully completing the evaluation or challenge phase, traders will be granted a Funded Account. This setup process typically takes a few business days to finalize. It's crucial to note that the account conditions and balance will directly reflect the achievements made during the evaluation phase. For traders looking to operate with a higher Account Balance, they must undergo and pass the evaluation process again for the specific Account Balance tier they aim to trade with.
Profit Split
Finotive Funding introduces a variable profit split model that differs across its various programs. Traders can receive profit splits between 60% to 95%, contingent on the program selected and their trading performance. This profit split percentage can escalate as traders achieve predetermined profit objectives and exhibit their trading prowess. It is advisable to delve into the specifics of each program to grasp the exact profit split percentages relevant to the selected account type and trading approach.
Finotive Pro Challenge
When evaluating Account Conditions, it is imperative to scrutinize if the Broker offers a variety of account preferences, as well as the Platforms, Instruments, and Trading Costs that apply. Additionally, assessing the Leverage levels and Trading conditions is crucial, as some Brokers might limit certain strategies and prohibit specific practices in Funded accounts, potentially leading to account forfeiture. Consequently, to reclaim an account, one would have to successfully clear the evaluation once more. Below is a detailed examination:
Trading Instruments
Finotive Funding equips traders with an extensive assortment of trading instruments, covering a broad spectrum that includes forex currency pairs, commodities, indices, and cryptocurrencies. This wide range of instruments enables traders to participate in diverse financial markets and tailor their trading portfolios according to their investment preferences and strategies.
Finotive Funding Commission
Finotive Funding imposes commission fees on its trading accounts. These commission rates vary based on the specific account type and trading conditions. For example, traders with Finotive Pro accounts enjoy reduced commission rates. These lower commissions are among the benefits designed to augment trading efficiency and cost-effectiveness.
Leverage
Finotive Funding offers leverage up to a maximum of 1:400 for all trading instruments, available to both Challenge participants and Funded traders.
Finotive Funding App Platform
Finotive Funding, in affiliation with Finotive Markets LLC, provides brokerage services that include fast execution, competitive spreads, and 24/7 cryptocurrency trading through the widely used trading platform, MetaTrader 5.
Trading Conditions
Finotive Funding has meticulously tailored its trading conditions to foster a conducive and structured trading atmosphere. These conditions enable traders to maximize profit opportunities and advance in their trading careers. Finotive Funding promotes a flexible trading milieu with no restrictions on activities like news trading, weekend position holding, or lot sizes. Additionally, Finotive Funding offers an Islamic account option, presumably adhering to Islamic finance principles that forbid certain practices such as the imposition or receipt of interest. While slippage is generally minimal at Finotive Funding, it's noteworthy that the company implements a 5-minute limitation on opening and closing trades surrounding news releases to minimize potential slippage.
Finotive Funding Promotions
Payout and Withdrawals
Finotive Funding has established a structured payout process. As per their website, once a trader successfully passes the challenge stages and attains a funded status, they are eligible to commence profit withdrawals. For holders of Finotive Pro accounts, there are specific benchmarks like a quarterly profit goal and a consistency criterion, which, upon fulfillment, permit the trader to withdraw their profits and also qualify for a salary.
Withdrawal Method
Finotive Funding provides several withdrawal options for traders. These encompass credit/debit card transactions via TrustPayments, cryptocurrency transactions via xMoney, and a partnership with Deel, offering an alternate withdrawal avenue for traders.
