If you are an experienced and passionate trader seeking a funded account with the potential to earn high profits, The Funded Trader might be just what you are looking for. They are a leading proprietary trading firm that offers the opportunity to manage account sizes up to $1,500,000 and take home profit splits up to 90%.
With a focus on trading forex pairs, commodities, indices, and cryptocurrencies, The Funded Trader is searching for skilled traders who can demonstrate their expertise in navigating unpredictable market conditions.
If you’re considering using a prop trading firm, keep reading for our comprehensive The Funded Trader review. We’ll explore the firm’s strengths and weaknesses, helping you determine if it’s the right prop firm to help you reach your trading goals.
What Is The Funded Trader?
The Funded Trader is not your average online prop firm. With its gamification of the trader experience and innovative advancements, it’s quickly becoming a favorite among traders. In 2020, Angelo Ciaramello, a young entrepreneur from New Jersey, established the company as a startup with the goal of introducing gamification to the retail trading space.It has since evolved into a proprietary firm that allows skilled traders to work with account sizes up to $1,500,000 and profit splits up to 90%.
The company is partnered with trusted brokers Eightcap and Purple Trading Seychelles and has an office based in the US. With a focus on providing opportunities for individual traders to compete and climb up the rankings leaderboard, The Funded Trader is changing the game in the online prop firm industry.
How Does The Funded Trader Work?
The Funded Trader operates similarly to other prop firms, but with a unique twist. Unlike other prop firms, The Funded Trader offers four different challenges to choose from to obtain a funded account.
The Standard Challenge features a larger drawdown of 6% daily and 12% max, but traders can expect their first payout withdrawal in just 30 days. The Rapid Challenge aims for faster payouts within the first two weeks, with balance-based drawdowns to allow for compounding of winnings.
The Royal Challenge offers ultimate flexibility. The profit target is 8% with a max drawdown of 10%, giving traders more freedom than other prop firm challenges. Lastly, there’s the Knight Challenge, with a medieval video game aesthetic. This challenge only requires one phase, and traders can reach their first payout in as little as 7-10 days.
To begin with The Funded Trader, traders pay for an evaluation process designed to identify consistently profitable forex traders. Once traders pass the evaluation by hitting profit targets and staying within the trading parameters, The Funded Trader will give them capital equal to the account size they signed up for.
Traders can keep 80% to 90% of any profits they make, while The Funded Trader will cover any losses they incur. However, if traders lose too much, their account will be suspended, and they will need to go back through the evaluation process.
The Funded Trader Features
The Funded Trader offers numerous features to traders to help them grow their accounts and become successful traders. These features include:
- Numerous challenge options: The Funded Trader provides traders with the option to choose from one of four challenges depending on which one suits them best. This is unlike other prop firms that only allow for one way to gain eligibility.
- Discord channel: The Funded Trader has a rapidly growing community of traders exchanging ideas on their Discord channel.
- Profit splits: The Funded Trader accounts start at an 80% profit split. Once a trader passes the evaluation phase, they become eligible to scale up to 90% as a funded trader. Additionally, traders can get the 90% profit split through promotions that offer a discount and a 10% bump to the profit splits with certain promo codes.
- Trade parameters/profit targets: The Funded Trader is trader-friendly when it comes to max drawdowns and profit targets. For instance, the 8% profit target offered in the Rapid and Royal accounts is below that of most other prop firms, and that drops to just 5% for phase 2 of your challenge. The 6% daily and 12% overall drawdowns for the Standard account are also generous.
The Funded Trader Review: The Pros & Cons
- Default 80/20 payout and potential for 90/10 split
- Tons of payout methods available
- Great trading community: The Funded Trader has a Discord channel with more than 50,000 active members—great for getting trade ideas, learning new trading techniques, figuring out the rules, and generally supporting one another.
- Lax trading rules: The Funded Trader doesn’t outlaw any trading strategies.
- Industry-best profit splits: Default is 80% profit split, which scales up to 90%.
- Few minimum trading days: A standard account has just three minimum trading days, or you can opt for a Rapid account, with no minimum trading days at all.
- Fully refundable fees: Once you pass the evaluation, you’ll have your sign-up fees refunded.
- New one-step evaluation: The new Knight Challenge offers a one-step evaluation.
- Integrated brokers don’t have big name recognition
- Lack of educational resources
- Slow customer service: The Funded Trader has grown so fast they occasionally fall behind responding to trader issues.
- Too many account options: The many account options may be overwhelming for some traders.
The Funded Trader Alternatives
The Funded Trader is a fantastic choice for any trader trying to leverage their trading skills. Their 90% profit split is one of the best in the industry, but they are not the only ones that offer great splits. Check out this highest paying prop trading firms article if you want to read about some of the others.
Although The Funded Trader is one of the best prop trading firms, there are others that appeal to different types of investors. For example, if you want a prop trading firm that offers great education resources, The Funded Trader is probably not your best option.
Trader Career Path by Earn2Trade offers funded accounts as well as comprehensive educational resources. To read more about them and others like them, this best funded stock trading accounts article has you covered.
The Funded Trader is a great option for traders looking for a low-cost way to get funded. The platform offers generous profit splits, lax trading rules, and a supportive community. While there are some drawbacks, such as the demo mode environment and occasional issues with customer service, the overall benefits outweigh the negatives. If you’re looking for a way to trade with other traders and grow your account, click here to give the Funded Trader a try.