Ment Funding Review 2024
Website: www.mentfunding.com
Min. Deposit: US$ 250
Leverage: 1:100
Trading Platforms: MT5, MT4
Regulation: USA
Headquarters: USA
Founded: 2021
Regulatory Licenses:
- Ment Funding — registered in USA company number 32080108551
Updated on February 5, 2024
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In our comprehensive review process, we meticulously analyze and evaluate forex brokers based on an extensive set of criteria. We delve into the depth of their offerings, assessing everything from the ease of registration, variety and range of trading instruments, pricing models, platform availability, customer support quality, and much more. Our methodology involves comparing these brokers against a vast dataset of over 1000 brokers to determine their standing in the industry. Every aspect is scrutinized to ensure we provide a well-rounded review, highlighting not only the advantages but also the potential drawbacks that traders might face. This thorough approach helps us recommend only the best forex brokers that align with a wide array of trader needs, from beginners to experienced professionals.
Ment Funding emerges as a proprietary trading firm that revolutionizes the prop trading space by offering traders the chance to manage up to $2,000,000 in funding per account. Established in 2021, it sets itself apart with a one-of-a-kind, straightforward evaluation process designed to facilitate traders' access to Funded Accounts seamlessly. Unlike many of its competitors, which might involve intricate or multi-tiered evaluation stages, Ment Funding's approach simplifies the path to becoming a funded trader. This proprietary trading firm provides an exceptional platform for individuals to engage in trading activities with minimal personal investment. To secure a Funded Account, traders are required to pass a straightforward test or challenge, after which they are granted the ability to trade on behalf of the company like seasoned professionals.
Pros
Lower Profit Target
Competitive Pricing Structure
Wide Range of Balances with Affordable Registration Fees
Varied Account Options
Accessibility to MT5 and MT4 platforms, including support for Expert Advisors (EAs)
Refundable Fee upon Becoming a Funded Trader
Cons
Lack of Strict Oversight
Challenges in Becoming a Funded Trader due to Stringent Qualification Criteria
Limited Range of Trading Instruments
Exclusive Reliance on the MetaTrader Platform
Ment Funding operates within the United States, strictly adhering to the regulatory standards and rules that govern financial and trading activities within the country. By forming a partnership with Eightcap, which is regulated by the Australian Securities and Investments Commission (ASIC), Ment Funding aligns its operations with the necessary compliance frameworks to provide a secure and regulated trading environment for its users.
In contrast, Proprietary Trading firms, unlike Forex Brokers, do not operate under a uniform regulatory framework. Consequently, they typically experience lower levels of regulation and lack oversight by industry regulators, making them inherently less secure. Given that the company is solely responsible for managing the entire operation and providing funds for trading activities, understanding all associated risks is essential.
Upon examining the official information regarding Ment Funding, we found no evidence to suggest that the company operates as a scam. However, it's crucial to acknowledge that proprietary trading firms generally do not fall under stringent regulation by financial authorities. This makes it challenging to definitively ascertain the legitimacy or the true nature of such firms.
It is advisable to thoroughly educate yourself about Proprietary Trading, comprehend the risks involved, and select a company with a good reputation that has been operational for many years, thereby ensuring a more stable proposition. Nevertheless, since the investment is limited to subscription fees rather than substantial capital, the potential losses are considered lower compared to engaging in Real Trading with your own funds.
Ment Funding Challenge Evaluation Rules ▲
The primary objective of the Challenge or Test is to demonstrate your trading ability. Ment Funding’s one-step evaluation process is designed to streamline the path to obtaining a funded trading account. This sets it apart from many other proprietary trading firms that might require multiple stages of evaluation.
Account Balance and Registration Fee ▲
Ment Funding’s evaluation process is designed for traders aiming to access substantial capital for trading, offering a straightforward and transparent pathway to funding.
Ment Funding provides a diverse range of starting balance options, ranging from $25,000 to $2,000,000, catering to various levels of trading expertise and goals.
The challenge includes numerous rules that participants must follow to demonstrate their successful strategy and performance. One of the most crucial parameters is the Profit Target, which is set based on the challenge selected. The firm’s one-step evaluation program aims for a 10% profit target, with rules in place to effectively manage risk.
This challenging rule is included in every Prop Trading test. It is important to note that there are two levels of Loss that are crucial to follow: one is the Maximum Daily Loss set at 5% for all accounts, and the other is the Maximum Overall Loss set at 6%.
Ment Funding’s one-step evaluation process for traders seeking to manage funded accounts does not impose a minimum trading period requirement. This flexibility allows traders to operate at their own pace, focusing on strategy and performance without the pressure of time constraints.
Ment Funding does not offer a free trial for their evaluation program. This position is consistent with some proprietary trading firms that provide free trials, but Ment Funding is not among them, based on a recent comparison of prop firms and their offers regarding free trials.
Once a trader successfully passes the test or challenge, they are allocated a Funded Account, which may typically take a few business days to activate. It's crucial to understand that the account conditions and balance will mirror exactly what was qualified for during the test. Should a trader wish to upgrade to a higher-grade account, they must undergo and pass the test from the beginning for the desired Account Balance they aim to trade with.
Profit Split
Upon successful completion of the evaluation, traders qualify for a profit split, which ranges from 75% to 90% based on the selected plan and performance metrics.
Trading Instruments
Ment Funding offers traders the ability to trade a broad spectrum of instruments across various markets, including forex pairs, commodities, indices, stocks, and cryptocurrencies. This diversity ensures traders have extensive opportunities to implement their trading strategies across different asset classes.
Trading Conditions
Ment Funding provides two primary account conditions: Swap Accounts, which are ideal for swing trading, and swap-free accounts, available in all challenges for traders who prefer to avoid overnight charges. Ment Funding supports a wide range of trading strategies, including News Trading, Swing Trading, EA (Expert Advisor) Trading, and the capacity to hold positions over the weekend. Additionally, traders can benefit from Copy Trading from another Ment Funding account, which significantly enhances versatility for those employing various strategies. However, it's important to note that certain practices such as High-Frequency Trading, Latency Trading, and Arbitrage are prohibited.
Payouts after the first can be requested monthly. The process for withdrawing profits involves submitting a request to the company, which then transfers the trader’s share of the profits into their account, supporting various withdrawal methods.
