FunderPro Review 2024
Website: www.funderpro.com
Min. Deposit: US$ 549
Leverage: 1:200
Trading Platforms: MT5, MT4
Regulation: Malta
Headquarters: Malta
Founded: 2023
Regulatory Licenses:
- FunderPro Ltd — registered in Malta company number C 104558
Updated on April 22, 2024
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In our comprehensive review process, we meticulously analyze and compare forex brokers against a stringent set of criteria. This process involves evaluating over 1000 brokers, focusing on factors such as regulatory compliance, trading platforms, account types, customer service, fees, spreads, and educational resources. Our goal is to provide traders with an unbiased, in-depth analysis to make informed decisions.
FunderPro stands out as a proprietary trading firm that seeks to empower talented traders by offering them the chance to manage substantial capital amounts. Initially, traders can manage up to $200,000, with potential scaling up to $5,000,000. Their unique selling proposition includes challenges with no time limit, allowing traders to work without the pressure of meeting objectives within a predetermined timeframe. FunderPro offers a distinct opportunity for traders to engage in real trading with minimal upfront capital requirements. To become a Funded Trader and trade with company funds, traders must pass a Test or Challenge to obtain a funded account. This enables them to trade as professional traders with a company account.
Pros
Tailored trading conditions
Good pricing
Great variety of balances with low registration fees
Upscaling opportunity
MT5 and MT4 support with Expert Advisors (EAs)
Refundable fee once you become a funded trader
Good range of challenge models
Cons
No strict overseeing
It is challenging to become a funded trader
Limited instrument range
Only MetaTrader platform supported
FunderPro emerges as a credible proprietary trading firm, distinguishing itself by offering traders the chance to manage funded accounts devoid of time restrictions on their trading evaluations. Their forward-thinking model, which includes providing real capital accounts to funded traders, attractive profit shares of up to 90%, and access to a technologically advanced platform equipped with sophisticated analytics, cements their position as a formidable entity in the prop trading landscape.
As is common with Prop Trading firms, they operate without a Forex Broker license, implying they face less regulatory scrutiny and oversight compared to traditional Forex Brokers. This might affect the level of safety they can offer, as they independently handle all operational aspects and funding for trading activities. It’s crucial for traders to fully comprehend the risks involved before engaging with such entities.
Our exhaustive investigation into FunderPro’s legitimacy, primarily through its official web presence, uncovered no indicators of fraudulent activity. Nonetheless, the nature of Prop Trading Firms being less regulated by financial bodies makes it somewhat difficult to fully determine their credibility.
It is advisable to thoroughly educate oneself about Prop Trading, grasp the associated risks, and opt for a company with a commendable track record, ideally one that has sustained operations over a considerable period for added stability. Moreover, since the financial involvement primarily consists of subscription fees rather than substantial capital investments, the potential financial risks tend to be lower in comparison to personal trading investments.
FunderPro Challenge Evaluation Rules ▲
To secure a position as a Funded Trader with FunderPro, aspirants are required to pass a twofold evaluation process. The journey begins with a demo account during the evaluation stages and, upon meeting the set criteria successfully, transitions to a live trading account.
Account Balance and Registration Fee ▲
Before embarking on the FunderPro challenge, participants are prompted to select their preferred Model and Account Balance. This decision not only influences the challenge terms slightly but also the registration fee payable for challenge participation. It’s noteworthy that FunderPro commits to reimbursing this fee once participants attain Funded Trader status. For comprehensive details, refer to the Registration Fee comparison table.
FunderPro’s challenge and funding framework is designed to support a broad spectrum of trading strategies, uniquely allowing trading over weekends and through major news events – a flexibility rarely found in other prop trading firms.
Participants navigate a dual-phase evaluation, proving their proficiency in profit generation while conforming to risk management protocols.
FunderPro extends a variety of account sizes for its evaluation challenge, addressing diverse trading expertise levels and financial commitments. The account sizes span from $25,000 to $200,000, each associated with specific fees.
Our research reveals that FunderPro’s evaluation challenge encompasses a bipartite process where traders target a 10% profit in the initial phase and an 8% profit in the subsequent phase, all the while respecting stringent drawdown limitations.
Within FunderPro’s trading challenge, it’s imperative for participants to judiciously manage their trades to steer clear of surpassing maximum loss thresholds. The challenge delineates two pivotal drawdown constraints to foster disciplined risk management: a daily loss cap of 5% and an aggregate loss ceiling of 10% from the initial balance.
Refer to the detailed table showcasing FunderPro Challenge conditions based on Account Size:
FunderPro avails a complimentary challenge trial, permitting users to acquaint themselves with its platform functionalities prior to committing to a subscription. This trial spans 5 days, allowing for a single active free trial at any given moment. Subsequent to a trial, users can embark on another following a 5-day hiatus, with unlimited free trial initiations permitted. Each trial necessitates a 5-day interval.
FunderPro offers a unique opportunity for traders to access a funded account, providing a platform to trade without the need for their own capital. This innovative approach is designed to identify and nurture talented traders, offering them a chance to prove their trading skills and earn profits. The funded account program includes various tiers, each with its specific requirements and benefits, tailored to accommodate traders at different levels of expertise and commitment.
Profit Split
The profit split arrangement at FunderPro is notably generous, with traders receiving a significant portion of the profits earned. This incentive structure is designed to motivate traders to perform at their best, knowing they will be rewarded for their success. The exact percentage varies depending on the account tier, but it remains competitive within the industry, providing a fair and enticing profit-sharing model.
Trading Instruments
FunderPro offers a wide range of trading instruments, including currencies, commodities, indices, and more. This diversity ensures that traders have ample opportunities to trade in markets they are most familiar with or explore new ones. The availability of various instruments also allows for a more diversified trading strategy, potentially reducing risk and increasing the chances of profitability.
FunderPro Commission
One of the most compelling aspects of FunderPro is its competitive commission structure. For commodities and currencies, the commission is set at only 3 USD per lot per round, significantly lower than the industry average. For indices, the commission is even more attractive at 0 USD. This cost-effective commission model makes FunderPro an attractive option for traders looking to maximize their earnings.
Leverage
The leverage offered by FunderPro is flexible, allowing traders to choose the level that best suits their trading style and risk tolerance. This flexibility is crucial for traders who employ different strategies and need to adjust their leverage accordingly. The exact leverage options vary, but they provide traders with the necessary tools to amplify their trading positions, within responsible limits to manage risk effectively.
FunderPro App Platform
FunderPro supports the use of MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular and powerful trading platforms available. These platforms are renowned for their advanced charting tools, comprehensive features, and support for automated trading systems, making them suitable for both novice and experienced traders. The inclusion of these platforms underscores FunderPro's commitment to providing traders with the best tools for success.
Trading Conditions
FunderPro's trading conditions are designed to offer traders the best possible environment for success. This includes not only competitive commissions and leverage options but also access to a wide range of trading instruments and platforms. The conditions are tailored to support both short-term and long-term trading strategies, providing traders with the flexibility to execute their preferred trading approaches effectively.
FunderPro Promotions
FunderPro occasionally offers promotions that can further enhance the trading experience. These promotions may include bonuses, reduced commissions, or other incentives that benefit traders. Staying informed about current promotions can provide additional advantages, making the trading journey with FunderPro even more rewarding.
Payout
Withdrawal Method
FunderPro provides several convenient withdrawal methods, ensuring that traders can easily access their funds. Available options include Perfect Money, cryptocurrency transfers via USDT and USDC, classic bank transfer, and Wise. These diverse methods cater to different preferences and geographic locations, offering flexibility and ease for traders when withdrawing their earnings.
While FunderPro offers a compelling platform for traders, it's essential to consider alternatives to ensure the best fit for individual trading needs and preferences. Research and comparison among the top 12 prop trading firms can provide valuable insights, helping traders make informed decisions. Attributes such as profit splits, account conditions, fees, and supported platforms should be carefully evaluated when exploring FunderPro alternatives.
