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FX2 Funding Review 2024

Website: www.fx2funding.com

Min. Deposit: US$ 95

Leverage: 1:100

Trading Platforms: DXtrade

Regulation: USA

Headquarters: USA

Founded: 2021

Regulatory Licenses:

- FF2 LLC — registered in USA company number 4634274

Updated on April 19, 2024

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Our Review Method ▲

In our comprehensive review process, we meticulously assess forex brokers against a set of rigorous criteria developed from analyzing over 1000 brokers. This exhaustive method ensures that our evaluations are both thorough and unbiased, focusing on key aspects such as fees, spreads, commissions, platform offerings, regulatory compliance, customer service, and educational resources. Through this approach, we aim to provide traders with the most reliable and up-to-date information, empowering them to make informed decisions when choosing a forex broker.


What is FX2 Funding?

FX2 Funding stands out as a proprietary trading firm that enables traders to manage a simulated trading account under well-defined conditions. Candidates undergo a meticulous evaluation, adhering to specific rules such as drawdown limits. Successful traders are then given the opportunity to trade and profit from their performance without risking their own capital. The firm sets restrictions on certain trading strategies to ensure fairness and offers account scaling opportunities based on profit generation. It offers its services globally, with certain geographical restrictions.


FX2 Funding Pros Cons ▲

Pros

  • Lower profit target allows for easier achievement of funding

  • Competitive pricing model provides good value for traders

  • Offers a wide variety of account balances with low registration fees

  • High profit share ratio benefits successful traders

  • Refundable fee structure once traders become funded, enhancing overall value

Cons

  • Lack of strict oversight may raise concerns about trading practices

  • The challenge of becoming a funded trader can be daunting for many

  • Limited range of trading instruments may restrict trading strategies

  • Absence of popular MetaTrader platforms limits platform choices

  • Prohibition of EA (Expert Advisor) trading restricts automated trading strategies


Is FX2 Funding Legit?

FX2 Funding is recognized as a legitimate proprietary trading firm, operating within the strict regulatory environment of the USA. The firm's presence in the United States suggests adherence to comprehensive regulatory standards, encompassing compliance with stringent financial regulations and adherence to consumer protection laws. Unlike Forex Brokers, Prop Trading firms like FX2 Funding are subject to less regulatory oversight since they do not require Forex Broker licenses and are not directly monitored by financial industry regulators. This affords them a greater degree of operational flexibility and autonomy in fund management, albeit with varying risk levels. It is crucial for prospective traders to be aware of these risks, considering the less stringent regulatory environment compared to more traditional financial sectors.


Is FX2 Funding Scam?

In our analysis of FX2 Funding, conducted through a thorough review of their official website, we found no overt indications of fraudulent activity. Nonetheless, the inherently lower level of regulation governing Prop Trading Firms poses challenges in unequivocally affirming their legitimacy. For those considering engagement with Prop Trading, a prudent approach would involve in-depth research and a preference for firms with established reputations and a track record of stability. While the financial obligations may primarily consist of subscription fees rather than direct investments, this model potentially reduces the risk of significant financial loss compared to direct trading with personal funds.


FX2 Funding Challenge Evaluation Rules ▲

A pivotal element of our review focuses on the structure and prerequisites of the FX2 Funding evaluation challenge, including the criteria to qualify for a Funded Trading Account. The challenge is designed to assess a trader’s proficiency in risk management and profit generation, crucial for a career as a Proprietary Trader. Participants incur a Registration Fee as part of the process to achieve this status. FX2 Funding sets itself apart with a streamlined, single-phase evaluation, aimed at efficiently evaluating a trader’s skill set without the complex, multi-level challenges common in the industry. The evaluation concentrates on meeting specific profit targets and adhering to drawdown limits.


Account Balance and Registration Fee ▲

Engaging with FX2 Funding begins with selecting a trading model and desired account balance for qualification. The challenge parameters and associated registration fees vary by account size, with FX2 Funding committing to refund these fees upon successful qualification as a Funded Trader. The firm offers trading accounts ranging from $10,000 to $200,000, catering to a wide array of trader needs and preferences. The one-stage evaluation emphasizes trading skill demonstration free from stringent time constraints.


Profit Target ▲

The FX2 Funding challenge mandates adherence to specific rules to effectively demonstrate a trader’s strategic prowess and performance. Achieving the Profit Target is central to this, with the requisite 10% gain on the account balance highlighting a trader’s proficiency in navigating and capitalizing on the trading environment crafted by FX2 Funding.


Maximum Loss ▲

Traders partaking in the FX2 Funding challenge are bound by maximum loss limits to foster disciplined risk management. These limits include a 4% maximum daily drawdown and an overall 6% maximum drawdown from the initial balance. Maintaining these limits is crucial for evaluation success and qualification for a funded account, testing traders’ capital protection skills while pursuing profit objectives.


Minimum Trading Period ▲

FX2 Funding imposes no minimum trading period for their evaluation challenge, offering traders the freedom to operate according to their unique strategies and personal circumstances. This policy ensures traders can showcase their trading acumen without the constraints of a predefined timeline.


Free Trial ▲

FX2 Funding does not provide a free trial for its trading challenges or evaluation processes. Access to the trading challenge necessitates a registration or evaluation fee, which is refundable upon meeting the qualification criteria for a funded account as defined by FX2 Funding.


Funded Account ▲

FX2 Funding Funded Account

FX2 Funding distinguishes itself in the competitive trading landscape by offering an attractive profit split arrangement, allowing traders to retain a substantial 85% of the profits earned. This generous profit-sharing framework positions FX2 Funding as a highly appealing option for traders, encouraging the application of proficient trading tactics and skills to maximize earnings.


Account Conditions ▲

Evaluating FX2 Funding's broker services involves a thorough analysis of its account variants, trading platforms, financial instruments, associated costs, leverage options, and overall trading conditions. Certain trading strategies might face restrictions, potentially leading to the suspension of account privileges. In such cases, undergoing another evaluation process might be necessary to restore access. Delving into these aspects sheds light on the comprehensive offerings and potential limitations presented by FX2 Funding.


Pros

  • Diverse financial instruments including major currency pairs and possibly commodities, indices, and cryptocurrencies

  • Profitsharing model with up to 85% profits retained by traders

  • Leverage options up to 1:100 for forex and indices, and up to 1:20 for cryptocurrencies

Cons

  • Possible restrictions on highrisk strategies such as arbitrage and highfrequency trading


Trading Conditions

FX2 Funding has crafted a set of trading conditions tailored to meet the wide-ranging requirements of traders engaging in their funded account programs. The firm generally supports an extensive array of trading strategies, including scalping, swing trading, and news trading. Nonetheless, it prohibits certain high-risk approaches like arbitrage and high-frequency trading. Traders are also urged to practice ethical trading, avoiding manipulative or deceitful tactics. The phenomenon of slippage, common during volatile market conditions or when executing large orders, should be factored into traders' strategies and risk management plans.


FX2 Funding App Platform

Utilizing the DXtrade platform, rebranded for FX2 Funding as Gooey Trade, this tool offers intuitive charts, sophisticated annotation capabilities, and features to bolster trading decisions and strategies. The integration of TradingView charts is anticipated, further enriching the platform's offerings. Though presently web-based, the Gooey Trade app is poised for launch in March 2024, promising enhanced accessibility and convenience.


Payout and Withdrawals

FX2 Funding champions a swift payout structure, enabling traders to initiate their first withdrawal merely 7 days following the acquisition of their funded account, with subsequent withdrawals permissible every 14 days. This expedited payout procedure underscores FX2 Funding's commitment to furnishing traders with timely access to their profits, thereby facilitating better financial management and flexibility for its users.


Withdrawal Method

FX2 Funding processes withdrawals through a variety of methods, aiming to suit the diverse preferences of its global trader base. Although available options may fluctuate, typical withdrawal channels often encompass bank transfers, electronic wallets such as PayPal, and other digital payment solutions, ensuring a smooth and accommodating withdrawal experience for traders.

Comments (1)

Holland. Pral
Dec 24, 2024

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