Funded Trader: Review and Analysis [2024]

The Funded Trader is looking for traders who are enthusiastic and have a lot of expertise. These traders will be successful with the assistance of their money if they demonstrate their ability to do well in volatile market circumstances. In addition to having the ability to manage account sizes of up to $200,000 and obtain profit shares of up to 95%, traders can generate significant gains. Trading a variety of financial assets, such as foreign exchange pairings, commodities, indices, and cryptocurrencies, is one way to achieve this goal.

Comparing the advantages and disadvantages of a Funded Trader prop firm is an integral part of our Funded Trader prop firms review. Even if there are a few disadvantages, they are significantly outweighed by the advantages of the company.

Founded on May 12th, 2021, The Funded Trader is a proprietary trading organization that operates under the legal name The Funded Trader LLC. Its incorporation marked the beginning of its operations. Angelo Ciaramello, who serves as the CEO, is in charge of managing the company, which is situated in Liberty Hill, Texas. With the Funded Trader, traders have the chance to select from five different account types: three different two-step evaluations, a one-step assessment, and a three-step evaluation. Additionally, the Funded Trader is associated with Eightcap as its broker.

The Funded Trader was established in 2020 by Angelo Ciaramello, a 29-year-old New Jersey-based entrepreneur. His business began as a startup that pioneered the concept of gamifying retail trading in the capital markets. The purpose of this endeavour was to allow individual traders to compete with one another to obtain funding and achieve the highest possible position on the rankings scoreboard.

In order to give individuals the ability to trade the company’s money and obtain profit splits depending on a percentage, Angelo and his team were successful in developing numerous financing challenges. One of the most significant accomplishments he has accomplished in his life is the fact that he was selected as one of the top 25 Financial Technology Leaders in the state of New Jersey for the year 2022.

Anyone interested in following Angelo Ciaramello can do so by following him on LinkedIn and Instagram. This will allow you to view a greater number of his postings and get a better idea of what he is doing on a daily basis.

Key Features of Funded Trader

What are the critical features of a Funded Trader prop firm? Right now, you will find out about them by reading on with our Funded Trader brokers review:

• Profit sharing split of 80%–90%
• There are no minimum trading days required for the Rapid account, while the Standard account only requires three trading days.
• Maximize your leverage with a ratio of up to 200:1
• Maximum daily drawdown is limited to 5%, while the overall daily drawdown is capped at 10%.
• Expanding to a staggering $1.5 million
• Endless trading opportunities
• Phase 1 of the Royal and Rapid accounts have profit targets set at 8%, while phase 2 has profit targets set at 5%.
• Aim for a profit target of 10% in phase 1 of the Standard Challenge, as well as in the one-step Knight Challenge.
• Payments are made biweekly for individuals who have Rapid accounts.
• Engage in forex trading with a wide range of currency pairs (44 in total), as well as the opportunity to trade gold, silver, and various indices (9 in total).
• New Knight Challenge: Streamlined assessment, minimal 3% daily drawdown, maximum 6% overall drawdown, and a lucrative 10% profit goal.

Official Website:	https://thefundedtraderprogram.com/
Account Currency:	USD
Initial Capital:	$5,000 – $400,000
Profit Split:	Up to 90%
Fees:	From $129
Daily Loss:	5%
Max Drawdown:	8%
Instruments:	Metals, Commodities, Crypto, Forex, Indices
Trading Platforms:	MetaTrader4 and MetaTrader5
Rules:	Minimum trading days, No martingale allowed, Profit target, No EAs allowed, Maximum daily loss, Maximum loss
Size of the Account:	$10,000, $100,000, $200,000, $25,000, $300,000, $400,000, $5,000, $50,000, $600,000
Deposit Methods:	Visa, Bitcoin
Withdrawal Methods:	Wise, Bank Transfer, Plane, Bitcoin
Support:	Chat, E-mail, Phone

Before agreeing to excellent terms and conditions, every Trader needs to understand whether a Funded Trader prop trading firm is a reliable company and whether it operates legally. That’s why this will be the next question that we will deal with in the Funded Trader prop firms review right now.

• Legal/Licence: There is no doubt that The Funded Trader is a legitimate company.
• Reputation: The Funded Trader is, without a doubt, a trustworthy forex prop service, as evidenced by their stellar reputation.
• Safe: Because they are not brokers and because they do not convey their customers’ transactions to the market, licensed organizations do not have the authority to control prop businesses. While this is going on, The Funded Trader is formally registered in the United States of America and can also operate in other countries. Within the context of this scenario, a partnered broker needs to be subject to regulation, and Eightcap does not have any issues with this.

The Funded Trader stands out from other prop trading firms in the industry by providing a variety of account types, each with its distinct evaluation process. These include three two-step evaluations, a one-step evaluation, and a three-step evaluation. Moreover, they offer a wide range of advantageous characteristics, including additional options for particular Challenge accounts, an endless trading duration, regular and semi-regular withdrawals, and a cost-effective Dragon Challenge.

The Standard Challenge for Funded Traders is a comprehensive evaluation consisting of two phases that must be completed in order to qualify for payouts. The desired profit goal for phase one is 10%, which then decreases to 5% in phase two. To ensure risk management, there are rules in place that limit the maximum daily loss to 5% and the maximum loss overall to 10%. Additionally, there are no set limits on the number of trading days you need to meet during either evaluation phase. Nevertheless, it is mandatory to engage in trading for a minimum of 3 consecutive days during each evaluation phase. The Standard Challenge also offers a one-of-a-kind scaling plan, enabling traders to handle account sizes of any magnitude effectively. In comparison to other funding programs in the industry, the Standard Challenge is notable for its unlimited trading period, the option to enable EA and bi-weekly future payouts.

Right now, we’ll examine the main programs and terms and conditions Funded Trader brokers offer to clients.

The Funded Trader Standard Challenge

If you choose to participate in the Standard Challenge, you must go through two distinct stages. At the end of each phase, you are required to reach a minimum profit objective during a trading period without exceeding the drawdown limitations that have been set.

Phase 1

• You must reach a profit objective during the next 35 calendar days while you are in this phase.
• The daily drawdown is limited to a maximum of six percent of the equity or balance (whichever is larger) at the beginning of the day.
• The overall drawdown is limited to a maximum of 12 percent of the initial amount.
• Profit goal: ten percent.
• During the trading term, you have to reach the profit objective within thirty-five calendar days.
• You must open transactions on at least three distinct days in order to meet the minimum trading days requirement.

Phase 2

• When it comes to phase 2, the profit objective is lowered, and the amount of time that must pass until the target is reached through trading is lengthened.
• The daily drawdown is limited to a maximum of six percent of the equity or balance (whichever is larger) at the beginning of the day.
• The overall drawdown is limited to a maximum of 12 percent of the initial amount.
• The aim for profit is five percent.
• With regard to the trading time, you are required to reach the profit objective within sixty calendar days.
• You must open transactions on at least six distinct days in order to meet the minimum trading days requirement.

You will be required to go through two distinct phases if you want to participate in the Rapid Challenge. If you are successful, you will get your initial reward in as little as twenty days.

The completion of this challenge can be a maximum number of trading days.

Phase 1

• You must reach a profit objective during the next 35 calendar days while you are in this phase.
• Maximum drawdown of five percent each day.
• In all, the drawdown can be no more than eight percent of the initial amount.
• 8% is the aim for profits.
• During the trading term, you have to reach the profit objective within thirty-five calendar days.
• There are no minimum trading days required. There are no maximum trading days.

Phase 2

• When it comes to phase 2, the profit objective is lowered, and the amount of time that must pass until the target is reached through trading is lengthened.
• Maximum drawdown of five percent each day.
• In all, the drawdown can be no more than eight percent of the initial amount.
• The aim for profit is five percent.
• With regard to the trading time, you are required to reach the profit objective within sixty calendar days.
• There are no minimum trading days required. There are no maximum trading days.

If you choose to participate in the Rapid Challenge, you will need to go through two distinct phases, just as you would with the other challenges.

Phase 1

• You must reach a profit objective during the next 35 calendar days while you are in this phase.
• Maximum drawdown of five percent each day.
• Overall drawdown: a maximum of ten percent of the initial amount per transaction.
• 8% is the aim for profits.
• During the trading term, you have to reach the profit objective within thirty-five calendar days.
• Within at least five days, you are required to engage in trading activities.

Phase 2

• When it comes to phase 2, the profit objective is lowered, and the amount of time that must pass until the target is reached through trading is lengthened.
• Maximum drawdown of five percent each day.
• Overall drawdown: a maximum of ten percent of the initial amount per transaction.
• The aim for profit is five percent.
• With regard to the trading time, you are required to reach the profit objective within sixty calendar days.
• Within at least five days, you are required to engage in trading activities.

You are going to be trading under live settings throughout the second portion of this assignment.

The Knights Challenge can be completed in a single step. The procedure has no distinct stages.

• It is your objective to reach a predetermined profit target within an infinite number of calendar days.
• There is a maximum drawdown of 3% every day.
• The overall drawdown is limited to a maximum of six percent of the initial amount.
• Profit goal: ten percent.
• Period of trading: there is no time restriction.
• There are no minimum trading days required. There are no maximum trading days.

The Funded Trader’s scaling plan is satisfactory, although it may not be as transparent as the offerings of other Prop firms. Many prop firms have straightforward guidelines, but the Funded Trader program needs to be revised to complicate things.

Once you have successfully secured funding with a Standard account, you are required to achieve an average return of 6% or a profit of 2% or higher in each of the three consecutive months. At that moment, you have the opportunity to obtain an extra 25% of your initial balance as additional capital. That’s quite an impressive boost in capital, mainly if you’re trading with a $200K account. You have the option to repeat this process every three months until your account has accumulated a maximum capital of $1.5 million.

It’s pretty simple, but there are additional guidelines to keep in mind. For instance, you can only make a scaling request while you’re waiting for a withdrawal. This is because your account needs to be back to its original balance before scaling can take place. If your account balance has increased from $200,000 to $212,000, you will need to withdraw the additional $12,000 in order to reach a total of $250,000.

For quick accounts, it may be a bit overly complex. Firstly, it is crucial to generate a profit of more than 10% based on your initial balance during a profit split. Following this, you must proceed to request a payout of 10% or more, which will result in a significant increase in your overall balance. Therefore, if you generate a profit of $11,000 with a $100K account, it is necessary to withdraw the entire $11,000 in order to obtain an additional $10,000 in capital.

Essentially, you’re exchanging your capital for the firm’s capital, which is fantastic. However, you won’t experience significant growth, as your capital will still be approximately $110K.

That is simply a prerequisite to qualifying for the initial chance to expand. To expand their trading endeavors, traders must achieve a 10% profit within three months and execute two withdrawals within that same time frame.

Profit Splits

As is the case with a significant number of other prop businesses, the Funded Trader became entangled in the race to the top, a competition amongst prop firms to determine who would distribute the most significant profit share. Although companies such as Topstep, FTMO, and the Funded Trader emerged successful, with splits ranging from 80% to 90%, the traders were, of course, the ones who achieved the most success.

All funded trader accounts begin with a profit split of 80%, which is a substantial amount; however, once you have completed the assessment process, you will be entitled to scale up to a profit split of 90% as a funded trader. This is how it works: Funded traders who earn a return of 2% in each of their first three months or an average return of 6% over their first three months are qualified to begin the scaling process and are eligible for the 90% split.

You may also obtain the 90 percent profit split by participating in promotions. With various promotional codes, The Funded Trader will regularly provide customers with a discount in addition to a 10% increase in profit splits as high as 90%.

This company cooperates with Eightcap, a well-known and trusted broker that offers its clients a comprehensive list of trading assets.

Trading Instruments

The Funded Trader is a Prop firm that provides funding to traders for trading Forex and other CFDs.

Below is a comprehensive compilation of all of them:

• For Forex traders, there is a wide range of currency pairs available, including principal, minor, and even exotic options.
• Trade a wide range of indices as CFDs, including popular options like Dax, Nasdaq, Dow Jones, S&P500, FTSE, and more.
• Types of metals include silver, gold, and platinum.

Trading Platforms

Funded Trader utilizes the widely preferred Metatrader 4/5 platform, which is extensively used by traders and brokers worldwide.

Trading Fees

They charge the following costs for their fundamental challenge:

• A balance of $50,000 in an account costs $315.
• For a balance of $100,000 in the account, $549
• An account balance of $200,000 will cost you $899.
• A balance of $400,000 in the account brings in $1,789

For the rapid challenge:

• A balance of $50,000 in an account costs $299.
• The cost of a $100,000 account balance is $499.
• An account balance of $200,000 will cost you $899.

It is only possible to receive a refund for the price if you are successful in completing the challenge. The fees are standard. The only time it may be refunded is if you have completed the trial.

If you have read the Funded Trader review up to this point but still don’t know how to open an account and get started with Funded Trader brokers, now we will give a simple step-by-step instruction:

1. Filling out the registration form with your personal information and entering the trading dashboard are both required steps in registering with The Funded Trader before you can begin trading.
2. Select Your Account—You can select your account after selecting your challenge type, account size, trading platform, broker, account type, and add-ons.
3. Select Your Payment Method You can select a payment method using a credit or debit card or Bitcoin.
4. You can start working with the company!

Profits can be withdrawn through various channels, such as Deel, Coinbase, PayPal, Payoneer, Revolut, and Wise.

The dedicated team at The Funded Trader is ready to assist traders with any inquiries or issues they may encounter around the clock. You can contact them via the dashboard, email, or Discord channel. The team has gained a reputation for its promptness in addressing concerns and its willingness to assist in resolving any problems that may arise.

In conclusion, The Funded Trader is a reliable Prop trading firm that offers five funding programs: the Standard, Rapid, and Royal Challenges, which are two-step evaluations; the Knight Challenge, which is one-step; and the Dragon Challenge, which is three-step.

The Funded Trader’s Standard Challenge is an industry-standard two-step test that must be completed before managing a funded account and earning 80% to 90% profit splits. Traders must make 10% in phase one and 5% in phase two to be funded. These trading goals are feasible given your 5% daily and 10% loss limits. No maximum trading day is required during any assessment phase. Each assessment step requires three calendar days of trading. Last but not least, the Standard Challenge offers a scaling strategy to boost your beginning account amount.

The Funded Trader’s Rapid Challenge is an industry-standard two-step test that must be completed before managing a funded account and earning 80% to 90% profit splits. Traders must make 8% in phase one and 5% in phase two to be funded. With a 5% daily limit and an 8% loss limit, these trading goals are attainable. In both assessment rounds, there are no minimum or maximum trading days so that you may trade at your speed. Lastly, the Rapid Challenge has a scaling strategy that lets you boost your original account amount.

The Funded Trader’s Royal Challenge is an industry-standard two-step examination that must be completed before managing a funded account and earning 75% to 90% profit splits. Traders must make 8% in phase one and 5% in phase two to be funded. These trading goals are feasible given your 5% daily and 10% loss limits. No maximum trading day is required during any assessment phase. Trading must last at least five days every assessment period. Last but not least, the Royal Challenge offers a scaling strategy to boost your beginning account balance.

Funded traders must pass the Funded Trader’s Knight Challenge in one phase to manage a funded account and earn 80% to 90% profit splits. To get financed, traders must make a 10% profit. Given your 3% daily and 6% trailing loss limits, these trading goals are achievable. You can trade at your speed during the assessment phase because there are no time limits. Finally, the Knight Challenge offers a scaling method to boost your original account amount.

Before managing a funded account and earning 75% to 95% profit splits, the Funded Trader’s Dragon Challenge involves three steps. To be financed, traders must make 8%, 5%, and 5% profits in phases one, two, and three. These trading goals are feasible given your 5% daily and 10% loss limits. You can trade at your speed during all three assessment rounds because there are no time limits. Finally, the Dragon Challenge has a scaling mechanism that lets you boost your original account amount.

We offer The Funded Trader to anybody looking for a reliable Prop trading service with excellent trading circumstances for a variety of traders with different styles. Add-ons for Challenge accounts, limitless trading periods, weekly and bi-weekly withdrawals, and a cheap Dragon Challenge are among their distinctive features. After evaluating all the services The Funded Trader offers traders worldwide, they are one of the top prop organizations.