The Funded Trader Program is an online trading program that aims to provide forex traders with an opportunity to trade on a funded account with minimal risk.
The program has been gaining popularity among traders, especially those who are looking to get started in trading or struggling to make consistent profits.
However, with so many scams and fraudulent cryptocurrency programs out there, it’s important to ask the question – Is The Funded Trader Program a scam?
In this review, we’ll take a closer look at the program, its rules, costs, pros, and cons, and student results, and answer some frequently asked questions.
Table of Contents
Overview of The Funded Trader Program
To begin with, the Funded Trader Program was founded in 2015 by a team of professional crypto lords and forex traders with years of experience in the industry.
In simpler terms, the Funded Trader Program is a trading education program that provides traders with the opportunity to trade with a funded account and potentially make a profit without risking their own capital.
The program is designed to help traders develop the skills and mindset needed to be successful in the markets and to provide them with the tools and support they need to achieve their trading goals.
It is offered by a number of companies, and the details of the program can vary depending on the provider.
However, in general, the Funded Trader Program involves a two-step evaluation process, followed by access to a funded account with a starting balance of $25,000 or $50,000, depending on the package chosen.
This evaluation process involves trading on a simulated account with a starting balance of $50,000. Traders must achieve a profit target of 10% within the evaluation phase in order to be considered for funding.
They must also adhere to strict risk management rules, including a maximum daily loss limit of 2% and a maximum drawdown limit of 6%. Traders must pass both the simulation phase and a live phase of the evaluation process in order to receive funding.
Once traders receive funding, they can trade with the funded account using any trading strategy that is consistent with the program’s rules and requirements.
Also, traders must maintain a profit target of 5% per month and adhere to strict risk management rules, including a maximum daily loss limit of 1% and a maximum drawdown limit of 4%.
That being said, traders are responsible for any losses incurred during trading, but there are no ongoing fees or commissions for the funded account.
In addition to access to a funded account, the Funded Trader Program provides traders with access to a community of like-minded traders and coaches who can offer support and guidance.
The Funded Trader Program rules
The Funded Trader Program has a set of rules that traders must follow in order to be considered for a funded account. These rules are designed to ensure that traders are disciplined, follow a trading plan, and manage their risk effectively.
Some of the rules include:
- Account Size: Traders are evaluated on a simulated account with a starting balance of $50,000. Once they pass the evaluation phase and receive funding, they will trade with a funded account with a starting balance of $25,000 or $50,000, depending on the package they choose.
- Profit Target: Traders must achieve a profit target of 10% within the evaluation phase in order to be considered for funding. Once they receive funding, they must maintain a profit target of 5% per month in order to keep the funded account.
- Risk Management: Traders must adhere to strict risk management rules, including a maximum daily loss limit of 2% and a maximum drawdown limit of 6% during the evaluation phase. Once they receive funding, they must maintain a maximum daily loss limit of 1% and a maximum drawdown limit of 4%.
- Trading Timeframe: Traders are required to trade on the provided trading platform and can only trade during the specified trading hours, which vary depending on the package they choose.
- Trading Strategy: Traders can use any trading strategy that is consistent with the program’s rules and requirements, but they must follow the program’s rules regarding position sizing, risk management, and other guidelines.
- Evaluation Phase: Traders must pass a two-step evaluation phase in order to receive funding. The evaluation includes a simulation phase and a live phase, and traders must meet the profit target and risk management requirements in both phases in order to be considered for funding.
- Fees: Traders must pay a one-time fee to access the program, which covers the evaluation, training, and access to the funded account. There are no ongoing fees or commissions for the funded account, but traders are responsible for any losses incurred during trading.
By and large, the Funded Trader Program rules are designed to promote disciplined, risk-managed trading and to help traders achieve consistent profitability.
While the rules can be challenging, they can also help traders develop the skills and mindset needed to be successful in the markets.
How much does The Funded Trader Program cost?
The Funded Trader Program has different pricing plans, depending on the account size and the trader’s experience level.
That is to say, the program offers accounts ranging from $25,000 to $1,000,000, with varying profit targets and maximum drawdowns.
It also charges a one-time fee, which covers the trader’s evaluation, training, and access to the funded account. The prices range from $199 to $999, depending on the account size.
Coupon and discount code
Similarly, the Funded Trader Program occasionally offers discount codes and coupons for traders who are interested in the program.
These coupons and discount codes can provide a significant discount on the program’s fees, making it more affordable for traders who are just starting out.
Pros of The Funded Trader Program
While it has already been established that the Funded Trader Program is a trading program that allows traders to access proprietary trading firms’ capital to trade financial markets.
Of course it is not on a platter of gold, the program typically requires traders to pass specific trading evaluations and meet certain requirements to access the firm’s capital.
Here are some potential pros of the Funded Trader Program:
- Access to capital: The Funded Trader Program provides traders with access to trading capital that they may not have access to otherwise. This capital can help traders to trade with larger positions and potentially earn higher profits.
- Risk management: It typically has strict risk management rules and guidelines in place, which can help traders to manage their risk effectively. This can be especially beneficial for traders who are just starting out and may not have as much experience with risk management.
- Performance-based evaluation: The Funded Trader software also evaluates traders’ performance based on their trading results. This can incentivize traders to focus on generating consistent profits, which can be beneficial for their long-term success.
- Flexibility: Compared to its competitors, the Program may offer traders more flexibility than traditional trading firms. For example, traders may be able to choose their own trading strategies and trading styles, which can be beneficial for their overall trading performance.
- Potential for profitability: The Funded Trader Program provides traders with an opportunity to earn a share of the profits that they generate through their trading activities. This can incentivize traders to focus on generating profits and can be a potential source of income for traders.
In the end, be enlightened that traders should carefully evaluate the program’s requirements, fees, and benefits to determine if it is suitable for their trading goals and experience level.
Cons of The Funded Trader Program
While the Funded Trader Program can offer potential benefits for traders, there are also some potential cons that traders should be aware of before considering the program.
Some of the cons of the Funded Trader Program are as follows:
- Evaluation fees: The Funded Trader Program typically requires traders to pay an evaluation fee to access the firm’s capital. These fees can be substantial, and they may not be refunded if the trader is not able to pass the evaluation.
- Strict rules: The Funded Trader Program typically has strict rules and guidelines in place for traders to follow, including risk management rules, maximum daily loss limits, and trading time frames. These rules can be restrictive for traders who prefer more flexibility in their trading.
- Limited capital: The amount of capital that traders can access through the Funded Trader Program may be limited, depending on the program and firm. This can limit the amount of money that traders can earn through the program.
- Profit-sharing arrangements: The Funded Trader Program typically requires traders to share a portion of their profits with the proprietary trading firm. This can reduce the amount of money that traders can earn from their trading activities.
- Restrictions on withdrawals: Some Funded Trader Programs may have restrictions on how often traders can withdraw profits from their trading accounts. This can limit traders’ ability to access their profits and may impact their overall trading strategy.
Student Results
Be that as it may, it is important to state that the Funded Trader Program has a track record of producing successful traders, with many students achieving consistent profits and reaching their trading goals.
As a matter of facts, the program provides traders with access to a community of like-minded traders and coaches who can offer support and guidance along the way.
Some traders have even gone on to become coaches for the program, sharing their expertise and experience with new students.
The Payout System
The good news here is that all Funded Trader Live Accounts have an 80:20 payout ratio by default, however you can expand your kingdom to get a higher payment ratio.
Your Funded Trader Account’s balance will be increased by 25% if you adhere to the requirements of our scaling plan, and the dividend payout will automatically rise to 90:10 as well.
Every Funded Trader has access to a payout request dashboard. Deel, which provides a number of payout alternatives.
They include Bank Transfer, Paypal, Deel Card, Coinbase, Payoneer, Revolut, and Wise, among other methods can be used to request the payout.
FAQs
- Is the funded trader program worth it?
The answer to this question depends on the individual trader’s goals, experience level, and financial situation. But I’ll gladly say YES!
The Funded Trader Program can be a great opportunity for traders who are looking to trade with a funded account and potentially make a profit without risking their own capital.
However, the program’s rules and evaluation process can be challenging, and not all traders may be successful in meeting the requirements.
It’s important for traders to do their research and consider their own goals and circ*mstances before deciding if the program is worth the investment.
- Can I use my own trading platform with the Funded Trader Program?
No, the Funded Trader Program requires traders to use their provided trading platform, which is designed to meet the program’s rules and requirements.
- Is the Funded Trader Program a scam?
The Funded Trader Program is not a scam, as it is a legitimate program that offers traders the opportunity to access capital to trade financial markets.
The program typically requires traders to meet specific requirements and pass trading evaluations to access the proprietary trading firm’s capital, and traders must follow specific risk management rules and guidelines to maintain access to the capital.
However, as with any trading education program, there are potential risks and drawbacks associated with the Funded Trader Program, and of course, this is normal.
In addition, the program’s fees and requirements may not be suitable for all traders, and there is no guarantee of profitability or success in trading.
As such, traders should carefully evaluate the program’s requirements, fees, and potential risks before enrolling in the program.
It’s also worth noting that there have been some complaints and negative reviews from traders who have participated in the Funded Trader Program, particularly regarding the program’s strict risk management rules and limited flexibility.
All in all, traders should conduct their own research and due diligence to determine if the program is a good fit for their trading goals and experience level.
Conclusion
Be informed that the Funded Trader Program can be a valuable opportunity for traders who are looking to trade with a funded account and potentially make a profit without risking their own capital.
And at the same time, the program’s rules and requirements can be challenging, and not all traders may be successful in meeting them.
Hence, it’s important for traders to do their research and consider their own goals and circ*mstances before deciding if the program is worth the investment.
As with any trading program or opportunity, it’s always important to exercise caution and make informed decisions.
PS: If you’re new to trading, I reviewed some trading courses like the Trade and Travel course by Teri Ijeoma.
