The Funded Trader Review Gamifying Prop Trading - FUNDED PROGRAM (2024)

Founded by Angelo Ciaramello in 2021, The Funded Trader is a renowned and a rapidly growing trading firm that aims to ‘gamify prop trading’, making them the first company in the world to do this. With seed investments of up to $1,500,000, investors from all over the world are given funding whilst being offered profit shares as high as 90%. They work with a number of brokers including Purple Trading Seychelles and Nash Markets.

The Funded Trader Review Gamifying Prop Trading - FUNDED PROGRAM (1)

The Funded TraderProgram offers four varying account sizes in addition to a 2-Phase evaluation process to traders. It includes two challenges, Standard and Rapid, with a verification process, that you must pass prior to proceeding. This is common practice amongst prop firms. These challenges come with a one time fee that is non-refundable if they are failed.

The initial part of the evaluation process is the Standard Challenge Phase 1 where the profit target is 10% of the total over a 35-day period. If the trader successfully passes this phase, they would be permitted to go to Phase 2, the verification stage, with a profit share of 2-5% over the duration of 60 days. During this phase, efficient and stable trading strategies must be demonstrated. Successful completion of this phase will be confirmed and promoted to the Rapid challenge. (ROMAIN PLEASE CHECK – NOT SURE IF WHAT IM WRITING IS CORRECT)

The Rapid challenge permits access to funding relatively quickly by eliminating minimum trading days, meaning given the background and expertise, the trader can complete the challenge and receive funding almost immediately.Profit margins for Phase 1 of the Rapid challenge is 8% over a 35-day trading period, and for Phase 2 is 5% over the course of 60 days

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The fees for their standard challenge are:

$315 for a $50,000 account balance

$549 for a $100,000 account balance

$899 for a $200,000 account balance

$1,789 for a $400,000 account balance

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The fees for their rapid challenge:

$299 for a $50,000 account balance

$499 for a $100,000 account balance.

$899 for a $200,000 account balance

In order to receive profit shared of up to 90% and biweekly rewards, the trader must demonstrate consistency and competent risk management. Evaluations are conducted every 3 months, and if the trader shows consistency and stability, they can apply for the Scaling Plan.

Investors can then become eligible for a 25% boost with an average return of 6% in three months, or a 2% return monthly for three months.

You may trade Forex pairs with 100:1 leverage, commodities with 40:1 leverage, indices with 20:1 leverage, and cryptocurrencies with 2:1 leverage withThe FundedTraderProgram.

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The first part of the evaluation process isThe Funded TraderStandard Challenge Phase 1. If the trader succeeds in this phase, then the trader will obtain their Phase 2 account and continue their evaluation once they have completed the trading objectives and demonstrated their expertise.

The Funded TraderChallenge Phase 2 is the verification stage, during which the trader continues to execute their trading strategy and demonstrate their talents in a more relaxed way, with a profit objective half of what it was required in Phase 1. After passing Phase 2, their results will be confirmed, and the trader will be promoted to a Funded Trader.

In the evaluation process for the standard challenge, there are two phases: Phase 1 and Phase 2. The primary distinction between the two phases is that the profit target for Phase 1 is 10 % of the total over a period of 35days. In comparison, the targeted profit margin for Phase 2 is 5% over a period of 60 days. The minimum number of trading days imposed for any phase is 5 days, and the leverages available for either stage can range anywhere from 2:1 to 200:1. The profit share can be anything from 80% to 90%, with a maximum loss of 6% daily and a maximum loss of 12% overall.

The rapid challenge is a bit different. The profit objective for Phase 1 is 8% with a 35-day trading period, while the profit target for Phase 2 is 5% with a 60-day trading period. There is no minimum trading day restriction, and you can trade with a leverage of 1:100 during both stages. The profit share ranges from 80 percent to 90 percent, with a maximum daily loss of 5% and an overall loss of 8%.

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Given their lenient guidelines, trading is permitted on the platform during news events, overnights, and weekends.

What is not permitted is hedging across multiple account or copy trading.

Another matter to note is that accounts would be terminated if passwords associated with any of your accounts are changed as this would signal a red flag.

The Funded Traderhas an active Discord platform that has over 60,000 members.Here traders can connect whilst sharing trading strategies and ideas. Angelo Ciaramello, the CEO is active on this platform, responding to questions and announcing new updates.

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The Funded Trader is unique because it barely regulates your trading approach and compared to their competitors, it has relatively modest minimum trading day criteria as previously mentioned; the trader can make trades during news events, overnight, and on the weekends.

The aforementioned Standard and Rapid Challenges requires the individual to trade for a minimum of 3 days in each phase and must then proceed to pass the two-phase evaluation programme before being eligible for funding:

  • Phase 1 – 10% maximum profit / 6% maximum loss
  • Phase 2 – 5% maximum profit / 12% maximum loss

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• Excellent profit split.

• A scaling plan provides the opportunity for growth.

• Multivarious challenge options

• Trade multiple assets, including crypto.

• Active Discord server.

• Slow customer service.

• Many complaints of system glitches.

• Lack of educational resources.

• No free trials.

Overall,The Funded Traderis one of the best trading platforms and has received a substantial number of positive reviews. Depending on the traders background and experience, they enable easy access to funding on excellent terms.They are undoubtedly one of the top prop organisations in the market after considering what they have to offer.

The Funded Trader Review Gamifying Prop Trading - FUNDED PROGRAM (2024)

FAQs

Is the funded trader real or fake? ›

About Virtual Funds

The Funded Trader challenge and funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.

How do you pass a funded trading test? ›

The five steps towards funded account challenge success
  1. Ensure your own readiness. ...
  2. Purposely adapt your trading strategy. ...
  3. Researching and signing up. ...
  4. Set up your trading environment and polish off your strategy. ...
  5. Start trading and stick to the rules.

What is going on with the funded trader? ›

The Funded Trader, a prop trading firm that recently faced an array of complaints for payout denials, has “temporarily paused all operations” with promises of a relaunch.

What percentage of traders pass prop firm challenge? ›

That result should look catastrophic for anyone who hopes to join a prop firm. The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

How often does the funded trader payout? ›

Withdrawals. Receive an 80% payout at the end of every 14-day period (counted from the first trade after the last approved withdrawal). Receive an 80% payout at the end of every week if purchased with the Weekly Payouts add-on (counted from the first trade after the last approved withdrawal).

Is funded trading worth it? ›

Getting funded by a prop firm has significant advantages such as: You get access to significant trading capital that can get you bigger profits compared with your own small account. You do not risk your own money (outside of evaluation/entry fees).

Can you make money from funded trading? ›

If you're serious about generating consistent profits, then you should aim to become a funded trader. Based on our experience, we find that you can expect to take home at least 5% of your profits per month from trading. This means, if you start with $100,000, you can expect to make around $5,000 per month!

How much does the average funded trader make? ›

As of Apr 16, 2024, the average annual pay for a Funded Trader in the United States is $96,774 a year.

How does the funded trader make money? ›

Once traders have been granted a funded account, the profits they generate from their trades are divided between themselves and the firm backing their account. The profit-sharing percentage typically falls within the range of 75% to 90%, with the remaining percentage allocated to the firm that funded the account.

What happens if you lose money as a funded trader? ›

Any losses incurred in a funded trading account can be recovered through risk management and diversification strategies. However, due to the inherent risk of trading, it is important for traders to understand the risks associated with the market and be mindful of their trading activity.

Are prop trading firms legit? ›

Prop businesses nowadays are utterly unregulated and far apart from the banking industry. As a result, these internet prop companies are legitimate and not a fraud. Scammers do exist in the sector, though, and they attempt to exploit the current market because there isn't much oversight.

Which prop firm is the best? ›

Quick Look: Best Prop Trading Firms
  • Best for Beginner Futures Traders: Apex Trader Funding.
  • Best for Experienced Traders: FXIFY.
  • Best for Stock Traders: Trade the Pool.
  • Best for Experienced and Beginner Forex, Indices and Metal Traders: The 5ers.
  • Best for All Futures Traders: BluSky.

How many people fail FTMO challenge? ›

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

Is it hard to pass funded challenge? ›

You must be profitable and fulfill certain trading objectives which makes it even harder. Less than 1% of traders who attempt the challenge pass and get funded. It's best to invest in a few challenges. Instead of purchasing a 200K FTMO Challenge, take five smaller 10K challenges.

What happens if you lose a prop firm challenge? ›

When you are trading with a prop firm, your losses are usually limited to the foregone risk of your challenge/account fee. You are generally not liable for the prop firm's lost funds.

How does the funded trader pay? ›

The Funded Trader offers a max profit split of up to 90/10. Once funded traders achieve profitability, they can request payouts in the form of cryptocurrencies or bank transfers via Deel.

What happens if you lose money on a funded forex account? ›

On a funded account, losing a large amount of money does not mean much. Even if it results in losing your funded account, you can still try to pass the evaluation at the same firm again or just join another one. Ultimately, you do not risk much and do not lose much.

Is the funded trader free? ›

The Funded Trader competitions are free monthly challenges anyone can join. They test your knowledge and expertise in foreign exchange (forex) trading. Competitions are a great way for beginners to improve their skills and strategies, but no experience is needed.

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