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Funding Traders Review 2024

Website: www.fundingtraders.com

Min. Deposit: US$ 50

Leverage: 1:100

Trading Platforms: MT5, MT4

Regulation: UAE

Headquarters: UAE

Founded: 2023

Regulatory Licenses:

- Funding Traders - registered in UAE company number 8839141.

Updated on January 16, 2024

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Our Review Method ▲

In our quest to provide an informed and unbiased review, our methodology involved a deep dive into the offerings, terms, and conditions of Funding Traders. We compared these aspects against a wide database of over 1000 brokers and proprietary trading firms to understand where Funding Traders stands in the competitive landscape. Our evaluation also considered user feedback, industry standards for profit sharing, trading conditions, and the accessibility of trading platforms to offer a comprehensive perspective.


What is Funding Traders? ▲

Launched in 2023, Funding Traders is a proprietary trading firm that focuses on empowering emerging traders by providing them with substantial capital. Their diverse offerings include access to trading funds, state-of-the-art trading tools, educational materials with actionable insights for funded account traders, and a supportive community. Funding Traders' programs are tailored for traders proficient in navigating a variety of markets, such as Forex, indices, stocks, metals, and cryptocurrencies. The firm offers a straightforward pathway in the forex market, underscoring the importance of risk management and facilitating access to significant capital. Its competitive terms and flexible trading rules are devised to accommodate both novice and seasoned funded traders, with the aim of enhancing their trading efficiency and profitability. To become a Funded Trader, individuals must trade using the firm’s funds rather than their own capital. Traders are required to pass a specific test or challenge to qualify for a funded account, which allows them to trade as professional traders using a company account. Nonetheless, it’s essential to carefully review the funding details we’ve outlined below, as there are crucial risk factors to consider before engaging.


Funding Traders Pros Cons ▲

Pros

  • High profit split up to 100%

  • Zero commissions on challenge accounts

  • No swap fees

  • Low Registration Fee

  • Refundable Fee

  • Good range of Challenge Models

Cons

  • Lack of Regulation

  • Difficult to become a funded trader

  • Restrictions on trading around major news events

  • No Alternative Platforms besides MT5 and MT4 with EAs


How Much Do Funded Traders Make?

The earnings of funded traders can significantly vary, influenced by their trading performance, the scale of their funded account, and the specific profit-sharing arrangement with the proprietary firm. Profits may span from a few hundred to several tens of thousands of dollars monthly, deeply impacted by the trader's proficiency, risk management strategies, and prevailing market conditions.


Is Funding Traders Legit?

Funding Traders stands as a legitimate entity within the UAE, a jurisdiction renowned for its strict regulatory standards and reputable financial infrastructure. This proprietary trading firm is dedicated to empowering traders by equipping them with the necessary capital, tools, education, and a community aimed at fostering success in their trading endeavors.

The firm has garnered positive feedback for its payout policies, community engagement, and innovative take on proprietary trading, boasting a customer review score of 4.9 out of 5 on TrustPilot. This underscores the firm's legitimacy and the high level of satisfaction among its traders.

Unlike Forex Brokers, Proprietary Trading firms often operate without a Forex Broker license, leading to a somewhat lower degree of regulation and oversight by industry authorities. As a result, while they may not guarantee the highest level of safety, these firms manage their operations independently and supply the funds for trading activities. It is crucial for traders to fully comprehend all associated risks prior to involvement.


Is Funding Traders Scam?

Upon examination of the official website, there is no evidence to suggest that Funding Traders is a scam. Nonetheless, due to the minimal regulation governing Proprietary Trading Firms by financial authorities, it is somewhat challenging to assert the firm’s legitimacy with absolute certainty.


Funding Traders Evaluation Rules ▲

The crux of our Funding Traders review hinges on dissecting the structure of the evaluation challenge and the prerequisites for engaging in the trading challenges. This includes an overview of the tests required to qualify for a Funded Trading Account and become a Proprietary Trader, alongside the costs usually associated with registration fees.

Funding Traders employs a challenge-based model, requiring traders to demonstrate their trading strategies and risk management capabilities. The firm offers both single-step and two-step challenges, each with specific profit targets and drawdown limits. Successfully navigating these challenges grants traders access to funding, with the opportunity to manage up to $2,000,000 in capital for their trading ventures.


Account Balance and Registration Fee ▲

Before embarking on the Funding Traders login procedure, it is necessary to select the account model and balance you aspire to qualify for. This choice not only influences the conditions of the challenge but also determines the registration fee payable to the company for participation in the challenge. However, Funding Traders refunds this fee upon attainment of Funded Trader status.


The firm provides a variety of account sizes, ranging from $5,000 to $200,000, with entry fees starting from $50 to $1,000, contingent on the chosen account size. With a focus on fostering a trader community, the firm offers up to 100% profit sharing, allowing traders to retain a substantial portion of their generated profits.


The potential for earnings also hinges on the size of the funded account, with larger accounts enabling bigger positions, thereby increasing the potential for higher profits (or losses).


According to insights from Funding Traders, traders have the potential to earn between $2,000 to over $20,000 per month, influenced by factors such as experience level, risk tolerance, and trading strategy. Nonetheless, it is important to note that these figures are subject to significant variations based on market conditions and individual trading performance.


Profit Target ▲

During the evaluation process, traders are tasked with meeting predetermined profit goals while adhering to maximum drawdown limits. In a single-step challenge, the profit target is typically set around 10%. Conversely, a two-step challenge requires achieving a 10% profit target in the first phase.


Maximum Loss ▲

Funding Traders’ policy on maximum loss varies according to the specific evaluation challenge a trader undertakes. Generally, in a single-step evaluation challenge, the firm enforces a maximum daily drawdown limit of 4% and an overall drawdown limit of 5%, calculated based on the initial account balance.

In the two-step challenge, the conditions differ slightly, with a higher overall drawdown limit. In the first phase of a two-step challenge, traders face a daily drawdown limit of 5% and an overall drawdown cap of 10%, static on balance, implying that it is calculated based on the initial account size rather than the account’s equity.


Minimum Trading Period ▲

The minimum trading duration for participants in Funding Traders’ evaluation challenges varies. Generally, traders are required to trade for a minimum of one day before qualifying for a payout.

The detailed table with Funding Traders Challenge conditions based on Account Size:


Free Trial ▲

Our investigation reveals that Funding Traders does not provide a free trial for their evaluation challenges or trading programs. The pathway to becoming a funded trader with them involves a one-time refundable fee and the successful completion of their evaluation challenge. For information on Proprietary Trading Firms offering free trials, refer to our dedicated section on Prop Trading Firms with Free Trial.


Funded Account ▲

Upon successful completion of the evaluation phase, the trader's Funded Account is set up, usually within a few business days. It's essential to note that the account's conditions and balance will reflect the results achieved during the assessment phase. Should traders aim for a higher-tier account, they must pass the evaluation for that specific account level anew.


Account Conditions ▲

Trading Instruments


Funding Traders offers a broad spectrum of trading instruments, including Forex, cryptocurrencies, stocks, indices, and metals, to cater to the diverse needs and strategies of traders interested in exploring various markets. Important aspects such as leverage, contract size, and spreads differ across these trading instruments, necessitating careful consideration by the trader.


Funding Traders Commission


Distinctly, Funding Traders does not impose any commissions on trades within challenge accounts, distinguishing itself from numerous other proprietary trading firms.


Leverage


Leverage options at Funding Traders vary according to the type of asset: FX up to 1:100, indices and gold up to 1:50, and cryptocurrencies up to 1:5. This flexibility supports various trading strategies and risk appetites.


Funding Traders App Platform


Funding Traders provides access to Meta Trader 4 (MT4) and Meta Trader 5 (MT5), renowned platforms in forex trading. These platforms are favored for their comprehensive features, including advanced charting tools, automated trading through Expert Advisors (EAs), and an extensive back-testing environment.


Trading Conditions


Funding Traders tailors its trading conditions to meet the diverse requirements of its traders, allowing for news event trading and holding positions overnight or over the weekend. Additionally, they offer a scaling plan aiming at profit growth while prohibiting practices like exploiting software glitches or engaging in high-frequency trading (HFT) strategies to ensure fair trading practices and risk management. Notably, Funding Traders does not charge swap fees on positions, a significant advantage for traders who keep positions open overnight or for multiple days.


Funding Traders Promotions


Currently, Funding Traders is running a spring promotion, offering a 30% discount with the promo code "SPRING," presenting an excellent opportunity for those interested in their trading challenges and programs at a lower cost.


Payout ▲

Successful traders in the evaluation phase move on to a funded trading account with a profit-sharing agreement that can reach up to 100%. The first payout becomes available between 7 to 14 days after the initial trade. To be eligible for payouts, traders must meet the minimum trading period and comply with the trading objectives. The minimum payout threshold is established at $50 profit for any account size.


Withdrawal Method


Funding Traders facilitates withdrawals through bank transfer and cryptocurrency. For bank transfers, traders are required to set up a Deel account, link it to their bank account, and anticipate a transfer period of 1-5 business days. Cryptocurrency transfers, on the other hand, are instant and are the preferred method for traders outside of Deel-supported countries.


Funding Traders Alternative ▲

In the realm of forex and financial trading, there are countless brokers and proprietary trading firms to choose from. Our extensive research, which involved analyzing over 1000 brokers, has resulted in a curated list of the Top 12 alternative brokers worth considering for those exploring options beyond Funding Traders. This list includes brokers renowned for their competitive fees, spreads, and commissions, alongside their diverse offering of trading platforms and instruments, ensuring traders can find a broker that best suits their trading style and objectives.

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