The Funded Trader Review 2023 | A Flexible Prop Firm

The Funded Trader Overview

What is The Funded Trader?

The Funded Trader, based in Liberty Hill, Texas, is a prop trading firm launched in 2021 by The Funded Trader LLC. It’s recognized for its refundable nominal access fees and relaxed trading guidelines, distinguishing it from its competitors.

Candidates worldwide can undergo an evaluation process. Successful traders, displaying apt trading acumen and prudent risk management, earn the title of a “funded trader.” This designation allows them to trade with the firm’s capital and retain a significant portion of the profits, starting at 80% and possibly reaching 90% under the scaling plan.

The Funded Trader features four distinct programs: Standard Challenge, Rapid Challenge, Royal Challenge, and Knight Challenge. Ambitious traders have the opportunity to tap into a capital pool of up to $600,000, which can further escalate to $1.5 million via the scaling program.

Through collaboration with Eightcap, its main broker, traders can venture into diverse markets including Forex, Cryptocurrencies, Commodities, and Indices. To avail the trading capital, however, traders must first clear two trading tests, post which they can aim for hefty gains with an enticing profit split favoring them.

Here’s a more in-depth look at the features and functionalities provided by The Funded Trader:

External The Funded Trader Review & Ratings

Here are some reviews from traders who have experienced the platform firsthand:

As you can see from the above feedback from reviews, The Funded Trader has mostly received positive reviews and positive feedback.

What Is The Funded Trader?

Located in Liberty Hill, Texas, The Funded Trader is a prop trading firm established in 2021 by The Funded Trader LLC. Despite being new, it’s making waves due to its refundable low access fees and more lenient trading rules compared to other firms.

Traders from anywhere can take an evaluation from the firm. If they showcase good trading skills and risk management, they can become a funded trader. This means they trade using the firm’s money and get to keep a large part of the profits, starting at 80% but potentially increasing to 90% with the scaling plan.

They offer four programs: Standard Challenge, Rapid Challenge, Royal Challenge, and Knight Challenge. Traders can access up to $600,000 of capital, which can grow to $1.5 million through their scaling program.

The firm has teamed up with Eight caps as its primary broker. This partnership gives traders access to various markets like Forex, Cryptocurrencies, Commodities, and Indices. But to get the trading capital, traders first have to pass two trading challenges. Once they do, they can start trading and aim for high profits, with up to a 90% profit split in their favor.

The Funded Trader History

In 2021, Angelo Ciaramello, a 24-year-old entrepreneur from New Jersey, started The Funded Trader. Initially, the venture was designed to gamify the process of retail trading in capital markets. Individual traders would compete for funding and aim to secure the top spot on a rankings leaderboard.

To provide opportunities for these traders, Angelo and his dedicated team devised multiple funding challenges. Successful participants could trade using the company’s capital and enjoy a share of the profits. Their innovative approach and success didn’t go unnoticed, as Angelo was acknowledged as one of New Jersey’s top 25 Financial Technology Leaders in 2022.

While Angelo was the brain behind the operation, he didn’t embark on this journey alone. On May 21st, 2021, alongside co-founders Blake Olson and Carlos Rico Jr., The Funded Trader was officially launched. The company quickly showcased its growth with impressive milestones. By January 2022, they had distributed over 1 million in payouts to traders. That figure skyrocketed to 30 million by January 2023, and by May 2023, they had surpassed 55 million in payouts.

For those keen to stay updated on Angelo Ciaramello’s activities and insights, he actively shares on platforms like Instagram and LinkedIn.

How Does The Funded Trader Work?

Like most prop firms, The Funded Trader requires traders to prove they are profitable forex traders before providing access to a funded account. It stands out for its unique evaluation process, offering four distinct challenges, each with their own trading conditions and trading objectives.

• The Standard Challenge: This challenge includes a larger daily drawdown (6%) and maximum drawdown (12%) across all account sizes. Traders can expect their first profit shares within 30 days, making it ideal for skilled traders looking to test their strategies.
• The Rapid Challenge: Designed with speed in mind, this challenge aims to deliver the first profit share within two weeks. It employs a balance-based daily drawdown, which allows traders to hold onto trades and potentially compound their profits.
• The Royal Challenge: The most flexible of the challenges, The Royal Challenge allows traders to use Expert Advisors (EAs) without any lot size limits. With a maximum drawdown of 10% and a profit target of 8%, this challenge gives traders more room to manoeuvre than the standard challenges offered by other prop firms.
• The Knight Challenge: Ideal for traders looking for a quicker payout, this challenge requires only one phase, and the first payout can be achieved within just 7-10 days.

Each challenge has its own minimum trading days, daily loss limit, and time limits, providing options to suit a wide variety of trading styles.

The Funded Trader Pricing & Plans

The Funded Trader has four challenges, and each one follows a different procedure. It’s best to refer to their site for specific details, as there are many different account sizes and details for the different challenges.

Here’s a brief summary of some of the simple rules for a $100,000 Regular Account:

The Standard Challenge Accounts

• Profit target: 10%
• Maximum loss: 12%
• Maximum daily loss: 6%
• Refundable Fees: $549

The Rapid Challenge Accounts

• Profit target: 8%
• Maximum loss: 8%
• Maximum daily loss: 5%
• Refundable Fees: $499

The Royal Challenge Accounts

• Profit target: 8%
• Maximum loss: 10%
• Maximum daily loss: 5%
• Refundable Fees: $489

The Knight Challenge Accounts

• Profit target: 10%
• Maximum loss: 6%
• Maximum daily loss: 3%
• Refundable Fees: $489

The Funded Trader: Mission, Principles, and Community

The team at The Funded Trader is driven by an unshakable mission: to empower traders to become capitalized professionals. Recognizing the significant barriers that traders often face in their journey, primarily access to capital, The Funded Trader offers a range of funding options that enable traders to choose the challenge that is best for them.

They understand that trading is not just about transactions but a business that requires support, mindset, technology, and efficient risk management. The Funded Trader operates with the utmost transparency, accountability, and excellence, creating an environment that encourages its traders to take pride in their work and establish a professional track record.

What sets The Funded Trader apart from many other prop firms is their vibrant community of traders worldwide. They believe in the power of collaborative trading and know that sharing ideas can lead to greater success for everyone. From beginners to experts, every member can learn from one another in this supportive ecosystem.

The Funded Trader’s ethos and core principles serve as the guiding compass for all their actions. These principles are:

• Trust: The Funded Trader is anchored in transparency and integrity, essential for building trust within their community. They foster a culture of honesty and accountability.
• Community: Committed to growing the largest, most supportive community of traders, The Funded Trader values their community as a hub for growth, connection, and success.
• Excellence: They pursue simplicity and excellence in all they do, holding each team member to the highest standards and continuously seeking ways to improve their services.
• Giving Back: The Funded Trader is committed to giving back to their community and team. They do so through various initiatives, including giveaways, promotions, and unique experiences.
• Growth: They believe in continuous learning and expansion, inspiring community members to develop the habits, mindset, and resilience to confidently pursue their goals.

Which Brokers Does The Funded Trader Use?

The Funded Trader collaborates with three prominent brokers: Eightcap, ThinkMarkets, and Purple Trading Seychelles.

Originating from Melbourne, Australia, Eightcap was established in 2009 and is regulated by ASIC. With its dedication to offering exemplary financial services, Eightcap has expanded globally, boasting five offices.

ThinkMarkets, on the other hand, is a top-tier multi-asset online brokerage with main offices in both London and Melbourne. Renowned for its trading solutions, ThinkMarkets supports the MetaTrader 4, MetaTrader 5, and their proprietary ThinkTrader platform.

Lastly, Purple Trading Seychelles stands out by promoting fair business practices and leveraging cutting-edge technologies, presenting itself as an equitable partner to its clientele.

When it comes to trading platforms, both Eightcap and ThinkMarkets offer Meta Trader 4 and MetaTrader 5. Purple Trading Seychelles, however, solely supports the MetaTrader 4 platform.

Diving deeper into The Funded Trader’s broker options:

• For Challenge Accounts, traders can select from three broker options: Eightcap, Purple Trading SC, and Think Markets. Notably, Purple Trading is available exclusively on Meta Trader 4.
• Simulated Funded Accounts offer two broker options, namely Eightcap and Think Markets, compatible with both MetaTrader 4 and 5.
• As for Competition Accounts, only ThinkMarkets is currently available.

What Assets Can Be Traded With The Funded Trader?

The Funded Trader provides a wide range of trading assets, each boasting varied leverages. With forex pairs, you can harness a leverage of 100:1, which extends to 200:1 during evaluations. Commodities come with a 40:1 leverage, indices with 20:1, and the dynamic realm of cryptocurrencies offers a 2:1 leverage.

Diving into specifics, here are the financial instruments that can be traded with The Funded Trader:

• Forex: The platform allows trades in major forex currency pairs such as EURUSD, GBPUSD, and USDCHF, as well as several others including AUDNZD, GBPCAD, and USDMXN, to name a few.
• Commodities: Key commodities accessible for trading encompass gold (XAUUSD), silver (XAGUSD), platinum (XPTUSD), as well as Brent (UKOil) and WTI oil (USOil), among others.
• Indices: Traders can engage with prominent indices, which include the likes of US30, SPX500, DAX, UK100, and NAS100.
• Cryptocurrencies: In the digital currency space, traders can capitalize on popular cryptos like Bitcoin (BTCUSD), Ethereum (ETHUSD), Litecoin (LTCUSD), and Ripple (XRPUSD), along with a range of others such as NEO, EOS, and ADA.

Is The Funded Trader Worth It?

The Funded Trader is well worth consideration for anyone exploring prop firm options. It has competitive pricing, flexible payouts, and numerous ways to obtain your funded account. It presents a great opportunity for talented traders to reach their profit objectives.

Plus, The Funded Trader is definitely not a scam, with a 4.7/5 score on Trustpilot.

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