The Funded Trader Review: Comprehensive Insights & Overview (2024)

The Funded Trader Review — Offers four funding programs with up to 90% profit splits, catering to diverse trading styles

• 4 tailored funding options for diverse trading styles
• Bi-weekly payouts with no minimum profit targets
• Low initial challenge fee
• Up to 90% profit split after first payout
• Multiple broker partners offer varied trading conditions

• Lacks educational content on-site
• Challenges could be tough for beginners
• Trading rules can be complex

For Newbies:

√ Standard Challenge with Max. Loss add-on

• 12% max. drawdown provides ample protection for novice traders.
• Minimum of 3 trading days, reducing pressure.
• EA trading supported with an add-on.
• Swing account type allows for weekend holding and News Trading.

For mid-level traders:

√ Royal Challenge

• Offers high leverage and can accommodate a variety of trading styles and strategies.
• EA Trading and weekend holding supported.
• Requires 5 trading days to pass the challenge, shouldnt be an issue for traders at this level.
• No lot size restrictions.

For Experts:

√ Knights Challenge

• A streamlined 1-step challenge.
• Offers a 7-day express first withdrawal.
• EA trading is allowed.
• No limitations on lot size.
• Boosts max. daily drawdown protection from 3% to 4% after the first scaling.

For Gamblers: ⚠️ Consider the Knights Challenge. No minimum trading days and a swift 7-day first withdrawal. Just be cautious of the equity drawdown.

Established on May 12, 2021, The Funded Trader has swiftly carved a niche for itself in the trading world. The company boasts four distinct funding programs designed to cater to diverse trading styles, each characterized by realistic objectives and clear conditions for payouts. Partnered with reputable brokers like Eightcap, ThinkMarkets, and Purple Trading Seychelles, they offer traders the flexibility to utilize platforms such as Meta Trader 4 and MetaTrader 5. Their trading portfolio is expansive, encompassing Forex pairs, Commodities, Indices, and Cryptocurrencies. A testament to their credibility, funded traders enjoy bi-weekly payouts, with tangible proofs of these payments available for perusal on platforms like YouTube and their active Discord community. This community engagement extends to their significant social media presence, marked by thousands of followers across Instagram, Telegram, and YouTube. Their reputation is further solidified by an impressive Trustpilot score of 4.7/5 based on 5,940 reviews, underscoring their unwavering commitment to their community and the top-tier support they provide.

Company Name:The Fund Trader LLC

Year Founded: 2021

Headquarter: Liberty Hill, Texas, United States

Popular countries: Brazil, India, United States, Venezuela, Thailand

Scaling up to: $1,500,000

The Funded Trader is renowned for its diverse range of funding programs tailored to accommodate traders of varying styles. Each challenge is specifically designed to meet the distinct needs of different traders. Here’s an overiew comparison of the salient features of each account type.

The Funded Trader offers four distinct challenge account variants: Standard, Rapid, Royal, and Knights. Setting it apart from other prop trading firms, each account carries its own set of unique conditions, which we will delve into for a more in-depth understanding.

• Choosing the right account at The Funded Trader can be a daunting task, given the variety of options and conditions. Here are some scenarios and recommendations to help you make an informed decision:

  • High Leverage Trader: If you thrive on high leverage trading, the Royal Challenge or Regular might be right for you. Both provide a maximum of 1:200 leverage, giving you more buying power.

  • Impatient Achiever: If you’re eager to jump right into the funded account and don’t want to wait, the Knights Challenge is the optimal choice, thanks to its straightforward 1-step challenge.

  • Budget-Conscious Beginner: For those just starting their trading journey and are mindful of their expenses, the Standard Challenge is ideal. It offers a 5k account for a mere USD 65.

  • Weekend Trader: If your strategy often involves holding positions over weekends, steer clear of the Standard and Rapid Regular challenges. You’d want an account that doesn’t restrict such activities.

  In conclusion, your trading style, patience level, budget, and strategy duration are key determinants in picking the right challenge account. Remember, it’s crucial to choose an account that complements your trading style and strategies for the best experience.

The challenge fee for The Funded Trader begins at a nominal rate of USD 65 for a USD 5,000 funded account and goes up to USD 1,869 for a substantial USD 400,000 funded account. Notably, these fees are refundable with the initial payout from the funded account.

The table provided below aids readers in drawing a quick comparison of fees and features across the various account types:

For those opting for the Standard Challenge, The Funded Trader offers add-ons to further customize trading according to individual preferences:

• For approximately a 21% increase in the challenge fee, traders can expand the max. loss from 10% to 12% and the max. daily loss from 5% to 6%.
• Enable EA Trading for an approximate 15% addition to the challenge fe

• Drawdown Type: Equity & Balance
• Max. Daily Loss: This is determined by either the balance or equity, with the lower value taken into account daily at 5pm EST.
• Max. Total Loss: Calculated with either the balance or equity, it remains fixed at the designated overall drawdown percentage based on the initial account balance.
  Learn More

• Drawdown Type: Balance
• Max. Daily Loss: Based on equity, this is determined at any given point during the trading day.
• Max. Total Loss: Like the Standard Challenge, this remains fixed at the designated overall drawdown percentage of the account’s initial balance.
  Learn More

• Drawdown Type: Equity & Balance
• Max. Daily Loss: The lower of balance or equity is taken into account daily at 5pm EST.
• Max. Total Loss: This remains fixed at the max. overall drawdown percentage based on the account’s beginning balance.
  Learn More

• Drawdown Type: Relative
• Max. Daily Loss: Determined by the lesser value of balance or equity, this is calculated daily at 5pm EST.
• Max. Total Loss: Unlike the others, this is based on Trailing Balance and is capped at the initial account balance value.
  Learn More

• Profit Split: The base rate starts at 80%.
• Eligibility for 90% Profit Split: Traders become eligible for this increased profit share once they qualify for the scaling plan. This increased rate offers a greater incentive for committed and proficient traders.

• Profit Split: The base rate starts at 80%.
• 90% Simulated Profit Split Eligibility: Achieving the 10% scaling for two out of any three consecutive months qualifies a trader for a permanent 90% payout. For instance, if you hit the 10% scaling in April and June but only reach 1% in July, from August onwards, your profit split will be set at 90%.

Breaching any rules or terms outlined by The Funded Trader, be it in the rules, knowledge center, or trader agreement, will result in ineligibility for any simulated profit split. It’s imperative to remember that a profit split indicates payments made based on simulated profit data measurements

Consistent performance and adherence to the platform’s rules are the key to maximizing your profit split at The Funded Trader.

• Simulated funded accounts are reviewed every 3 months. If a trader has been profitable for at least 2 out of the last 3 months with either (i) an average return of 6% over the 3-month period or (ii) a 2% return each month during the 3-month period, then they become eligible for an demo account size increase equal to 25% of their original demo account balance.
• Maximum Simulated Funded Account Balance Potential – Traders must make two withdrawals during this 3 month period. The Funded Trader allows these 25% account increases to take the sum of a trader’s demo account virtual balances all the way up to $1.5M simulated funds.

• Funded Rapid Challenge accounts are eligible for a scaling plan if the trader makes over 10% of the account’s initial demo simulated balance in one simulated profit split. This is calculated on net simulated profit and therefore does not take into account bonuses and challenge refunds. When the trader requests their payout, they will earn an additional 10% to their initial demo account virtual balance if the withdrawal was greater than 10% of their initial demo account virtual balance.
• Traders can continue to scale their account by 10% by making at least 10% on the account’s demo initial balance. For example, if the initial demo simulated balance is $100k and the trader makes 10%, then their new demo account simulated balance will be $110k moving forward. In the next period, the trader would only need to make at least 10% of the original $100k demo balance instead of making 10% on the new $110k demo simulated balance.

NOTE:

1. The eligible scaling of your account will start from the date you place your first trade. Example: If you receive your Simulated Funded Account on April 1st, but the first trade isn’t taken until April 3rd, your account will be reviewed for scaling on July 3rd.
2. Account scaling happens automatically and will only be done and processed while awaiting a withdrawal since the account balance must equal the starting balance when an account is scaled. A special note on The Knights Challenge:
3. In Knights Challenge, after first scaling, increase max. daily drawdown from 3% to 4%.

• Challenge Fee Refund:

  • Traders will be refunded their challenge fee with their FIRST payout from the simulated funded account.

  First Payout Timeline:

  • Standard Challenges: 21 days post the first trade.

    • (Update as of July 27th, 2023): Payouts for Standard Challenges are now processed 21 days following the initial trade.

  • Rapid Challenges: 14 days post the first trade.

  • Royal Challenges: 30 days post the first trade.

  • Knights Challenges: 7 days post the first trade.

  Requirements for First Payout:

  • No active virtual open positions or orders should be on the simulated account.
  • Once a withdrawal request is made, the trader’s simulated account will switch to read-only mode.

  Future Payouts Timeline:

  • Rapid, Royal, and Standard Accounts: 14 days from the date of the first trade made after the prior payout.

  • Knights Accounts: 7 days from the date of the first trade made after the prior payout.

  Payout Requirements:

  • Traders must ensure that there are no active virtual open positions or orders on their simulated account when making a withdrawal request.

  Account Status During Payout:

  • Post the submission of a withdrawal request, the trader’s simulated account will be placed in read-only mode.

  Special Note for Knights Challenge:

  • The withdrawal process impacts the trader’s virtual Relative Drawdown. For instance, if a trader’s simulated account stands at $107,000 and they decide to withdraw $5,000, their simulated relative drawdown will be left with only $2,000 to trade.

  It’s paramount for traders to be cognizant of these rules and timelines to ensure a smooth and efficient payout process.

Permitted Use of Trade Copying:

• Using TFT Account as a Master Account: Traders can use their simulated TFT account as the master account, copying trades from TFT to their personal accounts or other prop trading firms.

• Copying Between Accounts: Trades can be copied between various types of accounts such as:

  • Standard to Royal
  • Rapid to Royal/Knight/Standard+EA
  • Royal to Royal/Knight/Standard+EA
  • Knight to Royal/Knight/Standard+EA
  • Personal/Other Firms to Royal/Knight/Standard+EA.

Note: If copying trades from an external account to TFT accounts, the trades must be initiated by the TFT account holder.

Prohibited Use of Trade Copying:

• Copying to Standard or Rapid Accounts: Copying from personal accounts to non-EA TFT Standard or Rapid Accounts is forbidden.

• Restricted Copying Between TFT Accounts: Certain combinations are prohibited, such as:

  • Standard to Rapid
  • Rapid to non-EA Standard
  • Royal to Rapid/non-EA Standard
  • Knight to Rapid/non-EA Standard
  • External to non-EA Standard/Rapid.

• Copying to Other Trader Accounts/Raising Identical Orders: It’s strictly forbidden to copy trades to other traders’ accounts. Some activities that are not allowed include:

  • Raising identical/similar orders as other traders within specific time intervals or horizons.
  • Using the same EA or EA parameters/signals as other traders.

• Using Certain Services: Utilizing copy trading, account management, or “pass your challenge” services is considered a breach since trades must be the trader’s idea and execution.

More Details & Examples

All accounts, irrespective of their phase, are subjected to a 30-day inactivity restriction.

If Account Goes Inactive:

Should your account fall into an inactive state, you’ll need to reach out to The Funded Trader:

• Use the live chat feature on their platform.
• Alternatively, you can also email them.

Upon contacting them, request new account credentials to gain access and resume trading.

• High Frequency Trading
• Latency Arbitrage
• Group Hedging
• Tick Scalping
• Copy trading from others
• Latency Arbitrage
• Grid Trading within TFT or between different firms
• Account Sharing
• Use of delayed data feed
• Martingale Trading
• Use of guarantee of compliance with limit orders (including take profit and stop loss)
• Trading in US-Sanctioned Countries

For detailed explanations and the latest rules, click here

Simulated Funded Account Restriction:

• For 2 minutes before and after the release of a red folder event, there are trading restrictions which include opening/closing market orders, and any take profit or stop losses triggered within this 4-minute window.
• This rule is applicable across all instruments on the simulated platform.

Details & Examples

The news restriction rule does not apply if you are trading a Swing Account Type or a Royal Account.

Trader can choose among Eightcap, Purple Trading or Think Markets for Challenges, below is the trading condition of each of their partners on top of raw spread:

· Eightcap

Forex: $7 per lot
Metals: $3 per lot
Indices/Crypto/Oil: $0 per lot

· Purple Trading

Forex/Metals/Oil: $3 per lot
Indices/Crypto: $0 per lot

· Think Markets

Forex/Metals: $7 per lot
Indices/Crypto/Oil: $0 per lot

• Major Forex
• Minor Forex
• Metals
• Oil
• Indexes
• Cryptos

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