The Funded Trader Review | Overview
The Funded Trader is an online demo trading evaluation firm. Founded by Angelo Ciaramello, Blake Olson, and Carlos Rico Jr. on May 1st, 2021. For an upfront fee, it allows clients to demonstrate their trading abilities in a risk-free environment. Those who pass the evaluation will then be eligible to receive a share of the simulated profits generated in their Simulated Funded Account. Contingent on adhering to our Terms of Use and Customer Agreement. Let’s learn more about the platform in this Funded Trader review.
The Funded Trader is renowned among prop trading firms for its flexibility and accommodating attitude towards different trading styles. Many successful traders have praised the company for its unique evaluation process. It involves the Standard Challenge, the Rapid Challenge, the Royal Challenge, and the Knight Challenge. Each challenge’s evaluation phase provides traders with a chance to show off their trading strategies and abilities.
The Funded Trader Stages of Trading
Phase 1: The Challenge
In the first phase of the evaluation process, you must reach a predetermined virtual profit goal while adhering to the rules. Simulate trades in a virtual environment mimicking actual market conditions. To do this, you will simulate trades in a virtual environment that mimics actual market conditions. This includes latency and static slippage based on the size of your order. You will be granted a Phase 2 account within 24 hours and continue on your journey to being funded if you successfully accomplish the trading objectives.
Phase 2: Verification
In Phase 2 of the process, you will demonstrate your trading skills in a simulated market environment. You must reach a designated virtual profit target while adhering to the rules set forth. This demo market will feature latency and static slippage that reflects the size of your trades – creating a realistic impression of the real market. When you have met all of the trading objectives and your results have been verified, you will advance to the Funded Trader stage.
Funded Account
In order to remain successful, you must continue to display sound risk management practices, as well as consistency. You will receive up to a 90% profit split from the virtual account. Your simulated performance will be evaluated every 3 months. If eligible, you can scale up to a maximum account balance of $1,500,000. Please note that when trading on a Funded account, the real market is simulated as closely as possible by using real order book quotes aggregated from various liquidity providers. During times of high volatility, this may cause an increase in slippage. It is important to remember that strategies that work in the Challenge and Verification phases may not always be profitable in the Funded phase.
The Challenges
The Standard Challenge
The Standard Simulated Challenge has been updated to have no time limit and no free retries for Phase 1 and Phase 2. They can also choose to use Expert Advisors (EAs) and trade copiers as part of their strategy. To successfully complete the challenge and gain a Funded Account, traders must meet specific rules and objectives for each phase. You can have as many simulated trading days as you need to complete both phases of the challenge. However, you must still trade a minimum of 3 trading days in order to pass. For Phase 1, the simulated profit target is 10%, and for Phase 2, it is 5%.
The Royal Challenge
If you’re looking for a new program with exciting features, try the Royal Challenge! Unlike our Standard and Rapid Challenge, this program offers unlimited simulated trading days. A lower virtual profit target of 8%, the ability to use Expert Advisors, and no lot size limitations. Allows holding positions over the weekend.
The Rapid Challenge
If you’re looking to get your first payout in only 20 days, the Rapid Challenge is the perfect program for you! Our two-step evaluation process requires you to choose an account size of $50k, $100k, or $200k and then meet the Trading Objectives during Phases 1 and 2. The minimum number of simulated trading days is not required. Your first virtual profit split is available 14 days after you earn your funded account.
The Knights Challenge (One-Time Challenge)
The Knights Challenge is a one-phase evaluation process with no minimum trading days. Within this period, traders must reach a 10% Simulated Profit Target. They must not exceed a maximum daily simulated drawdown of 3% based on the starting balance and equity of the account (whichever is higher). Additionally, traders must not exceed a maximum relative simulated drawdown of 6% from the starting balance of the account.
Tradeable Instruments
The Funded Trader enables users to practice trading with the same instruments offered on their trading platform. The firm is mainly devoted to forex. It offers a selection of 44 currency pairs, which should be enough for retail forex traders. In addition, nine different indices along with gold and silver can also be traded.
The Funded Traders Review | Brokers
Eightcap Broker
Established in 2009, Eightcap is an ASIC-regulated broker based in Melbourne, Australia. Their mission is to deliver superior financial services to their clients. They have five offices in multiple countries and allow clients from all over the world to trade in FX, indices, commodities, and shares markets.
ThinkMarkets
ThinkMarkets is a leading online brokerage with offices in London and Melbourne, offering customers rapid access to a variety of markets as well as a selection of the most renowned trading solutions such as MetaTrader 4, MetaTrader 5, and the proprietary ThinkTrader platform.
Purple Trading
Purple Trading strives to create equitable partnerships with its clients by providing fair business conditions and advanced technologies.
You can trade with either Meta Trader 4 or MetaTrader 5 if you select Eightcap or ThinkMarkets as your broker. If you choose Purple Trading, you are limited to using only the MetaTrader 4 platform.
Profit Split and Payout
The Funded Trader stands out for its highly competitive and flexible profit split system. All Funded Trader Live Accounts have a default payout ratio of 80%, which is considerably higher than many prop trading firms. This ensures that traders keep 80% of their profits. Moreover, The Funded Trader offers a Scaling Plan where traders can boost their balance by up to 25%, and their profit split increases to an impressive 90%. Additionally, traders may be eligible for The Funded Trader’s King’s Program where they have access to instant payouts and the ability to withdraw money at any time.
The Trade Hub and Deel make it easy for traders to receive their profits. Deel offers a range of payout options including Bank Transfer, Deel Card, Coinbase, Paypal, Payoneer, Revolut, and Wise. The Funded Trader is also committed to providing a fast and efficient service, with payouts being completed within 24 hours. This makes it one of the most reliable and trader-friendly platforms in the prop trading industry.
The Funded Trader Review | Customer Support
If you need help with something concerning The Funded Trader, you can take a look at their FAQ page to see if the answer to your question is already there. If you need to contact The Funded Trader, you can do so via their Discord link, email (support@thefundedtraderprogram.com), toll-free phone number (888) 920-3079, or, if you have a stamp handy, via mail at 14001 W HWY 29, Suite 102, Liberty Hill, TX 78642.
Is Funded Trader a Legitimate Prop Trading Firm?
The Funded Trader has solidified itself as one of the most respected names in the prop trading industry, due to its enormous trading community and its commitment to its traders. This legitimate firm funds consistent traders pays out on time and always looks out for its traders’ best interests. Although some less-than-reputable firms have caused doubt in the industry, the Funded Trader has quickly proven itself as a reliable and trusted option.
Accepted Countries
Anyone in the world can join The Funded Trader, except those living in Cuba, Iran, Lebanon, Syria, North Korea, Libya, Sudan, or Somalia. These restrictions are due to its payment-exchange accounts.
The Funded Trader Review | Conclusion
To sum it up, The Funded Trader is a reliable proprietary trading firm that provides four distinct funding programs: Standard, Rapid, Royal, and Knight. It is a trustworthy and established firm that offers great terms and conditions to a wide range of traders. All in all, this Funded Trader review proves that the firm is one of the foremost prop firms in the industry.
