he Funded Trader is a US-based prop trading firm that offers a comprehensive funded trader program, providing a broad range of funded trader programs ranging from $65 to $1,879 one-time participation fees. If you successfully pass the evaluation process, you get a refund of your initial fee, which makes it a free funded trading account. How do they range in my prop firm list and is TFT worth it?
What Is The Funded Trader Proprietary Trading Firm?
The Funded Trader is a prop firm and proprietary trading firm with offices located in Texas, United States (The Funded Trader LLC), and on the Cayman Islands (ARC Holdings). The company was founded in May 2021.
Is The Funded Trader Legit?
The Funded Trader officially discloses their company details on their website:
- The Funded Trader LLC
- Attn: Data Protection Officer, Carlos Rico-Ospina, Jr
- 14001 W HWY 29 SUITE 102
- Liberty Hill, Texas 78642
- Email Address: support@thefundedtraderprogram.com
- Telephone: (888) 920-3079
and
- ARC Holdings
- Attn: Data Protection Officer, FG Services Limited
- Suite 2206, Cassia Court, 94 Solaris Avenue, Camana Bay
- P.O. Box 1348, Grand Cayman KY1-1108, Cayman Islands
- Email Address: archoldingsmanagement@gmail.com
On Trustpilot, The Funded Trader has a great reputation, with an average rating of 4.5/5 based on 14,472 reviews (as of October 2023).
What Assets Can You Trade with The Funded Trader?
CFD trading includes over 60 instruments across multiple asset classes to trade:
- Forex: 39 pairs (EURUSD, GBPUSD, AUDUSD, etc.)
- Indices: 9 major indices (SPX500, US30, GER30, etc.)
- Commodities: Brent Crude Oil, WTI Crude Oil.
- Cryptocurrencies: Bitcoin Cash, Bitcoin, Ethereum, Litecoin
You have access to these instruments through our trading platform with all the necessary tools and data feeds to trade.
Futures trading not available with The Funded Trader.
How to Get Funded
To get funded with The Funded Trader you need to go through a thorough evaluation process that assesses your trading skills and risk management. Choose a challenge that suits your trading style and goals. The Funded Trader has four challenges: Standard Challenge, Rapid Challenge, Royal Challenge and Knight Challenge each with its own rules and objectives.
Evaluation Process
The evaluation process has two phases, each with its own profit targets and risk management. Phase 1 is to reach 8-10% profit within a certain time frame, with a max daily loss of 5% and max overall loss of 10%. Phase 2 is 5% profit with the same risk management. This is to test your trading skills, risk management and ability to adapt to different market conditions.
Trading Rules and Objectives
To get funded you need to follow The Funded Trader’s trading rules and objectives:
- Trade only during market hours
- Max daily loss 5% and max overall loss 10%
- Reach the profit target within the time frame
- Don’t over risk and trade balanced
- Follow The Funded Trader’s risk management rules
By following these rules and objectives you will show your trading skills and risk management and increase your chances to get funded.
Does The Funded Trader Offer Instant Funding – No Evaluation Accounts?
No, The Funded Trader does not offer any instant funding accounts without evaluation. The program that comes the closest to the no evaluation concept is the Knight Challenge, which is a 1-step challenge (one phase evaluation).
Does The Funded Trader Offer One-Step Challenges?
YYes, The Funded Trader offers a one-step challenge with their Knight Challenge programs. Here, you can choose between the following account sizes:
- $25,000 account for $189
- $50,000 account for $289
- $100,000 account for $489
- $200,000 account for $939
A one-step challenge means that you go through one evaluation phase until you get rewarded with a funded account, where you can earn profits ready for withdrawal to your bank account.
The rules across all one-phase funding account sizes are similar. You have unlimited trading days, and you can take all the time you need. Yes, you need to place at least one trade per every 30 days to keep your account active and avoid suspension due to inactivity.
In phase one, you have to reach a 10% profit target during evaluation to get access to your funded account. That means that profits made in phase one of the evaluation can’t be withdrawn. But once you make profits with the funded account, you can withdraw profits.
Your profit split in The Funded Trader funded account starts at 80/20, where you can withdraw 80% of the net profits you make. With scaling, you can increase the profit split to 90/10.
There are no minimum trading days, but a profit target of 10%. You trade with a leverage of max. 30:1, and scaling plans based on net profit are available.
The maximum loss is set to 6% and defined as a value calculated based on the initial account balance as a relative drawdown. As long as you stay above the maximum loss number, your account remains active. Your daily loss limit is 3%.
Does The Funded Trader Offer Two-Phase Evaluations?
Yes, The Funded Trader offers two-phase evaluations with their Standard Challenge, Rapid Challenge and Royal Challenge account types, each with specific trading objectives that traders must meet to qualify for funding and avoid penalties.
For the two-step Standard Challenge, you can choose between the following account sizes:
- $5,000 account for $65
- $10,000 account for $129
- $25,000 account for $199
- $50,000 account for $299
- $100,000 account for $499
- $200,000 account for $939
- $300,000 account for $1,469
- $400,000 account for $1,879
For the two-step Rapid Challenge, you can choose between the following account sizes:
- $5,000 account for $79
- $10,000 account for $129
- $25,000 account for $229
- $50,000 account for $299
- $100,000 account for $499
- $200,000 account for $899
For the two-step Royal Challenge, you can choose between the following account sizes:
- 50,000 account for $289
- $100,000 account for $489
- $200,000 account for $939
- $300,000 account for $1,399
- $400,000 account for $1,869
As you can see, the two-step challenges are extensive. It’s difficult to say why The Funded Trader uses that immense range of account sizes and sub-settings.
Wouldn’t it be enough to have four different funded trader paths? Each path has between four and eight account sizes, and for the Standard and Rapid Challenge, you can even switch the risk type between Swing and Regular (changing the risk type changes the leverage factors).
The Funded Trader Standard Challenge
All Standard Challenge accounts have a minimum of simulated trading days of 3 days and an unlimited trading period. The profit target is 10%, the maximum loss is 10% and a daily loss limit of 5%.
The first two steps are challenges where you can’t earn money for a withdrawal. Only traders who make it to step 3, The Funded Trader account, can withdraw money (21 days after the first trade had been placed). Funded traders who have completed the Standard Challenge often share positive experiences about the accessible terms, supportive customer service, and the benefits of the funding programs.
The leverage in the Swing Risk account within the Standard Challenge is 60:1, with weekend holdings possible, but the use of expert advisors is prohibited.
In contrast, the Regular Risk account within the Standard Challenge is at 200:1 but with the same percentage target for profit, maximum loss, and daily loss. Weekend holdings and EAs are prohibited.
I don’t see a real benefit of using the Regular Risk accounts because it makes it impossible to hold positions over the weekend by having the same % targets at the same costs. The leverage by itself can’t be a real value for higher risk.
The Funded Trader Rapid Challenge
All Rapid Challenge accounts have a minimum of simulated trading days of 0 days and an unlimited trading period. The profit target is 8%, the maximum loss is 8% and a daily loss limit of 5%. Different prop firms offer similar rapid challenges, each with unique trading conditions and evaluation requirements.
The first two steps are challenges where you can’t earn money for a withdrawal. Only traders who make it to step 3, The Funded Trader account, can withdraw money (14 days after the first trade had been placed).
The leverage in the Swing Risk account within the Rapid Challenge is 30:1, with weekend holdings possible, but there is no statement about the use of expert advisors.
In contrast, the Regular Risk account within the Rapid Challenge is at 100:1 but with the same percentage target for profit, maximum loss, and daily loss. Weekend holdings are prohibited, and there is no statement about the use of Expert Advisors.
I don’t see a real benefit of using the Regular Risk accounts because it makes it impossible to hold positions over the weekend by having the same % targets at the same costs. The leverage by itself can’t be a real value for higher risk.
The Funded Trader Royal Challenge
All Royal Challenge accounts have a minimum of simulated trading days of 5 days and an unlimited trading period. The profit target in the first step (TFT Challenge) is 8%, and 5% in the second step (Verification). The profit target is defined as 8%, the maximum loss is 10%, and the daily loss limit is 5%.
Within the Royal Challenge, Expert Advisors are allowed, but there is no statement about the weekend holdings. I find this extremely confusing. The comparison tables should clearly indicate for all account types and sizes what’s possible and what’s not.
When something is not mentioned, then it’s likely not allowed. However, news trading is never mentioned in the comparison tables, but in the Royal Challenge, it is separately noted that news trading is allowed. The Funded Trader could do a better job in terms of clarity here.
Payout Options
As of October 2023, only crypto payouts are available. Previously, payouts via Wise were possible, but they are no longer supported.
You need to provide a government-issued ID, proof of address (max. 60 days old) and a signed funded trader agreement to process payouts.
Support and Community
The Funded Trader has full support and a community of other funded traders to help you along the way.
Customer Support
The Funded Trader’s support team is available 24/7 to answer any questions you may have. You can reach them by email, phone or live chat and they will get back to you ASAP. They are very knowledgeable and experienced and will give you valuable advice on how to improve your trading and achieve your goals.
As well as customer support The Funded Trader also has a community of other funded traders who can offer support. You can connect with other traders through The Funded Trader’s online forum or social media groups and share your experiences and insights with others. This community will keep you motivated and focused on your trading goals.
By joining The Funded Trader’s community you get access to a lot of knowledge and experience and connect with other traders who are on the same journey as you. This can be a great resource to help you succeed in your trading career.
Does The Funded Trader offer Evaluation Fee Refunds?
Yes, The Funded Trader refunds fees if a trader reaches the final step of a challenge where he becomes access to his funded account by The Funded Trader.
What is The Funded Trader Partner Broker?
The Funded Trader partner Brokers are EightCap – a globally trusted CFD broker funded in 2009 in Melbourne, Australia. Also, Purple Trading SC – a Seychelles-based broker, and ThinkMarkets – a CFD broker established in 2010 with offices in London, Australia, South Africa and Tokyo.
What Trading Platforms Does The Funded Trader Offer?
The Funded Trader emphasizes the importance of the trading platform in its evaluation and funding processes. You can choose between the preferred MetaTrader 5 platform, where you have full access to all markets and can trade over the weekend if allowed. Alternatively, you can decide on the legacy MetaTrader 4 platform, where access to crypto is limited but full access to all other markets is possible.
Do I Trade with Simulated Funds or Real Money at The Funded Trader?
With The Funded Trader, you trade under simulated live conditions at all times. That means there is no risk to the capital at any time.
When Can I Start Withdrawing Money from The Funded Trader?
Upon passing The Funded Trader evaluation stages, you receive access to The Funded Trader funded account, where you can withdraw real funds based on the profit split conditions to your bank account. The minimum of days for the first withdrawal ranges from 7 to 30 days, depending on the chosen funded trader path.
What Payment Methods Does The Funded Trader Offer?
The Funded Trader offers payments via credit card and cryptocurrency.
In What Currency Will My Account Balance Be?
All The Funded Trader accounts are held in USD as base currency.
Am I allowed to use Expert Advisors (EA), Bots and Algos with The Funded Trader?
It depends on the chosen challenge type if you are allowed to use Expert Advisors. The Royal Challenge and Knight Challenge allow EAs to be used, but the Standard Challenge and Rapid Challenge prohibit the use of EAs. Bots and Algos are not separately mentioned, but it’s likely that they are prohibited if not mentioned.
Pros
- Wide range of funded accounts
- Excellent review ratings
- Choose between three brokers (Eigtcap, ThinkMarkets, Purple Trading)
- Competitive pricing structure
- Profit split ranging between 80% and 90%
Cons
- Futures trading is not available
- Only about 60 instruments can be traded
- Funded accounts with virtual money
- Payouts only via crypto possible (Wise no longer supported)
See Also: OneUp Trader Review (prop firm for futures traders)
Rating: ★★★★
