The Funded Trader Review: All Pros and Cons of the Prop Firm
- High profit splits up to 90/10
- Multiple account types are available
- Flexible payout options
- Quick payout processing times
- Opportunity for account scaling
- Access to substantial trading capital
- Partnered with a reliable broker - Eightcap
- Comprehensive customer support
- User-friendly trading platforms
- Regularly offers promo codes for discounts
- Not regulated like traditional financial institutions
- Platforms restricted to non-U.S. clients
- Requires passing a challenge to access funds
- Challenge fees are non-refundable
- High drawdown rules can be challenging
- Trading rules must be strictly followed
- Limited to specific trading platforms (Platform 5, cTrader, DXtrade)
- Responsibility for personal tax obligations
- No instant funding options are available
- Traders must be consistent to qualify for scaling
In our detailed review of The Funded Trader, we tested the platform to provide a clear picture of its offerings. The Funded Trader is a proprietary trading firm designed to provide traders with access to significant trading capital. This review aims to outline the benefits and drawbacks of the firm, ensuring you have all the necessary information to decide if it suits your trading needs. Our hands-on experience with The Funded Trader revealed insights into its business model, account types, funding process, and overall reliability.
Summary of Our Expert:
5 The Funded Trader Customer Reviews and Ratings
What Is The Funded Trader?
The Funded Trader is a proprietary trading firm that offers traders the opportunity to trade with significant capital provided by the firm. Founded in 2021, its primary goal is to support traders who have proven strategies but lack the necessary funds to trade at a professional level.
The business model revolves around a performance-based funding approach. Traders start by participating in a simulated trading challenge that assesses their trading skills and discipline. Upon successfully passing the challenge, traders are granted access to live trading accounts with substantial capital allocations.
The platform supports trading in various financial instruments, including forex, crypto, commodities, and indices. This flexibility allows traders to diversify their strategies and take advantage of different market opportunities.
Is The Funded Trader Legal?
Yes, The Funded Trader is a legitimate and legal entity. Although it is not regulated like traditional financial institutions, it operates under a transparent framework that ensures compliance with industry standards and best practices. There are no regulations or laws that prevent The Funded Trader from legally providing their services.
The firm has built a strong reputation for its transparency and reliability, which has been validated by numerous positive reviews on Trustpilot. In total, The Funded Trader has almost 20,000 reviews with a score of 3.6 stars. Our review indicates that The Funded Trader is a safe platform, providing a secure environment for traders to engage in proprietary trading without significant risks to their own capital.
Prop Trading Account Types With The Funded Trader
The Funded Trader offers various account types using a knights and dragons theme. As a result, traders can select the dragon, knight, royal, rapid, or standard challenges with different account sizes and profit goals. Here is an overview of the available account types:
Standard
| Standard | |
|---|---|
| Challenge | Standard |
| Account Size | $5,000 to $400,000 |
| Trading Period | Unlimited |
| Minimum Trading Days | 3 days |
| Target | 10% profit |
| Max Loss | 10% |
| Max Daily Loss | 5% |
Rapid
| Rapid | |
|---|---|
| Challenge | Rapid |
| Account Size | $5,000 to $200,000 |
| Trading Period | Unlimited |
| Minimum Trading Days | 0 days |
| Target | 8% profit |
| Max Loss | 8% |
| Max Daily Loss | 5% |
Royal
| Royal | |
|---|---|
| Challenge | Royal |
| Account Size | $5,000 to $200,000 |
| Trading Period | Unlimited |
| Minimum Trading Days | 0 days |
| Target | 8% profit |
| Max Loss | 8% |
| Max Daily Loss | $250 to 5% of starting capital |
Knight
| Knight | |
|---|---|
| Challenge | Knight |
| Account Size | $5,000 to $200,000 |
| Trading Period | Unlimited |
| Minimum Trading Days | 0 days |
| Target | $500 to 10% profit |
| Max Loss | 6% |
| Max Daily Loss | 3% |
Dragon
| Dragon | |
|---|---|
| Challenge | Dragon |
| Account Size | $5,000 to $200,000 |
| Trading Period | Unlimited |
| Minimum Trading Days | 0 days |
| Target | 8% profit |
| Max Loss | 8% |
| Max Daily Loss | 4% |
The Challenge and Costs on The Funded Trader Explained
The Funded Trader operates on a challenge-based funding model, where traders must prove their trading skills and discipline before receiving access to live trading capital. Here’s a breakdown of how the challenge works and the associated costs:
The Challenge Process
- Registration: Traders start by registering for the challenge and selecting their preferred account type. Each account type has different initial balances, profit splits, and drawdown limits.
- Challenge Phase: During this phase, traders must meet specific profit targets while adhering to the rules regarding maximum drawdowns and minimum trading days. This phase tests the trader’s ability to manage risk and generate consistent profits.
- Evaluation: Once the challenge phase is successfully completed, the trader’s performance is evaluated. If they meet all the criteria, they progress to the verification phase, where their trading consistency is further assessed.
- Verification Phase: Similar to the challenge phase, but often with a lower profit target, this phase ensures that the trader’s performance wasn’t a fluke and that they can trade profitably over time.
- Funding: Upon successfully completing both the challenge and verification phases, traders are awarded a funded account. They can then start trading with real capital, keeping a significant percentage of the profits while the firm takes a small portion as a fee.
Costs
The costs associated with participating in The Funded Trader’s challenges vary depending on the chosen account type and balance size:
| Challenge | Cost |
|---|---|
| Standard | $65 to $1,135 |
| Rapid | $79 to $899 |
| Royal | $60 to $1158 |
| Knight | $59 to $939 |
| Dragon | $49 to $355 |
Win Your The Funded Trader Challenge With WR Trading
The Funded Trader challenge is tough, requiring traders to prove their consistency and risk management capabilities. WR Trading’s course is tailored to help you complete this challenge. By focusing on high-risk reward strategies, scalping, and 1-minute chart trading, the course prepares you for the demands of The Funded Trader’s evaluation process.
You’ll receive personalized coaching from Andre Witzel, ensuring you get specific guidance to improve your trading performance. The course also includes access to an exclusive community, offering trade analysis, continuous support, and direct contact with Andre and other experienced traders through regular webinars.
Promo Codes for Rebates
The Funded Trader often provides promo codes and special offers to help traders save on challenge fees and other costs. These promo codes can be found on their official website, social media channels, and through email newsletters.
Using a promo code during registration can provide discounts ranging from 10% to 30% off the standard challenge fees, making it more affordable for traders to start their journey. Additionally, The Funded Trader occasionally runs seasonal promotions and limited-time offers, so it’s beneficial to stay updated with their announcements.
To apply a promo code, simply enter it in the designated field during the registration process. The discount will be applied automatically, reducing the overall cost of the challenge.
Payouts on The Funded Trader
The section will cover the payout process on The Funded Trader. We’ll also go into the profit splits you’ll likely encounter when receiving a funded account.
Profit Sharing in Detail
Profit-sharing structures vary on The Funded Trader but start at 80/20 and can go up to 90/10. That means traders retain 90% of the profits while the prop firm receives 10%. Also, profitable traders can request larger accounts, providing access to more capital and higher leverage, thus increasing potential payouts.
Growth Potential
The growth potential for funded traders is substantial. Traders can request partial withdrawals, keeping some capital in their accounts to continue growing with each profitable trade. The firm also offers account scaling, where consistent profitability over three months can lead to a 25% increase in the account size.
Payout Methods
Once traders achieve profitability, they can request payouts through cryptocurrencies or bank transfers via Deel. Payouts are flexible and can be requested at any time, with no minimum time limit or amount restrictions. The processing time for payouts is typically within an eight-hour window during EST working hours.
Exclusive Benefits with The King’s Program
The Funded Trader recently introduced The King’s Program, which offers elite benefits such as:
- Immediate Withdrawals: Withdraw profits anytime without limitations on amount or frequency.
- Quick Processing: Payouts are processed the same day.
- High-Profit Splits: Permanent 90% profit split for all payout requests.
Payout Requirements
Funded accounts become eligible to request payouts based on the time since the first trade is placed on the funded account, and subsequent payouts become eligible based on the number of days after the date of your first trade following any previous withdrawal. Below is a table outlining eligibility criteria for different challenges:
| Challenge Type | First Payout Eligibility | Subsequent Payout Eligibility |
|---|---|---|
| Standard | 21 days after first trade date | 14 days from first trade date after previous withdrawal |
| Rapid | 14 days after first trade date | 14 days from first trade date after previous withdrawal |
| Rapid with 7 days withdrawal add-on | 7 days after first trade date | 7 days from first trade date after previous withdrawal |
| Royal | 30 days after first trade date | 14 days from first trade date after previous withdrawal |
| Royal with 14 days withdrawal add-on | 14 days after first trade date | 14 days from first trade date after previous withdrawal |
| Knight | 7 days after first trade date | 7 days from first trade date after previous withdrawal |
| Dragon | 7 days after first trade date | 7 days from first trade date after previous withdrawal |
Withdrawal Methods
| Method | Details |
|---|---|
| Cryptocurrencies | BTC, ETH (ERC-20), USDC (ERC-20), USDT (ERC-20) |
| Bank Transfers | Via Deel |
Trading Platforms
The Funded Trader supports multiple trading platforms, each serving different trading needs and preferences. Here’s our review of each platform:
Platform 5 via Thaurus LTD
Platform 5, offered through Thaurus LTD, is a trading solution for non-US clients. Our review found that it provides a seamless trading experience with advanced charting tools, customizable interfaces, and efficient order execution. The platform’s user-friendly design makes it simple to navigate. However, the restriction to non-U.S. clients limits its accessibility, which could be a drawback for traders based in the U.S. Despite this limitation, Platform 5 remains a strong choice for those eligible to use it.
cTrader via Voyage Markets
cTrader, available through Voyage Markets, is another powerful trading platform restricted to clients outside the United States. In our evaluation, cTrader stood out for its sophisticated trading tools, including algorithmic trading capabilities and detailed market analysis features. The platform supports multiple order types and provides a comprehensive trading environment..
DXtrade via Voyage Markets
DXtrade, also provided by Voyage Markets, is designed to offer a flexible and intuitive trading environment. During our review, we found DXtrade to be highly customizable, allowing traders to tailor the platform to their specific needs. It supports a wide range of trading instruments and offers efficient order management and execution. While it shares the same restriction as the other platforms – being unavailable to US clients – DXtrade is an excellent option for traders looking for a versatile and user-friendly trading platform outside the U.S.
Which Broker Is Used by The Funded Trader?
The Funded Trader partners with Voyage Markets and Thaurus LTD to provide the necessary liquidity and access to the market. These partners ensure that traders have a secure and efficient trading environment. Voyage Markets and Thaurus LTD support advanced trading platforms and trading infrastructure. This partnership enhances the overall trading experience for The Funded Trader’s clients by providing reliable market access and support.
Taxes on The Funded Trader
Traders using The Funded Trader platform are responsible for managing their own tax obligations. Trading profits are treated like business income rather than capital gains, meaning traders must report their earnings according to the tax laws applicable in their respective countries.
Support and Education
The Funded Trader provides comprehensive support and educational resources to assist traders in their journey. For support, traders can use the following options:
- FAQ section
- Phone number – 888-920-3079
- Live chat
- Email – support@thefundedtraderprogram.com
The support team is responsive and knowledgeable, helping resolve any issues or answering queries promptly.
In terms of education, The Funded Trader does not offer much for its users. It does have a blog section that covers interesting and helpful topics about trading, but that’s about it.
Alternatives
When considering alternatives to The Funded Trader, several other proprietary trading firms offer similar opportunities for traders to access capital and scale their trading careers. Here are four notable alternatives:
The Trading Pit
The Trading Pit is a reputable prop trading firm that provides traders access to significant trading capital. Our review found that The Trading Pit offers a comprehensive evaluation process similar to The Funded Trader, where traders must pass a challenge to demonstrate their trading skills.
The firm offers a variety of account types with different profit splits and drawdown limits. Additionally, The Trading Pit provides educational resources and a supportive community, making it an excellent choice for traders looking to develop their skills and achieve consistent profitability.
Apex Trader Funding
Apex Trader Funding stands out for its flexible funding options and trader-friendly policies. The firm offers a straightforward evaluation process, where traders can choose their account size and profit target. The firm also has an excellent support system and a range of educational materials to help traders improve their strategies and achieve their trading goals. Apex Trader Funding’s commitment to transparency and trader support makes it a strong alternative for those seeking a reliable prop trading firm.
5%ers
5%ers is known for its unique profit-sharing model and growth-oriented approach. Unlike traditional prop firms, 5%ers allows traders to keep 50% of their profits from day one, with the potential to increase their profit share as they demonstrate consistent performance.
Our review highlighted that 5%ers offers a straightforward funding program with clear rules and objectives, making it accessible to traders of all experience levels. The firm also provides extensive educational resources, including live trading sessions and mentorship programs, to help traders enhance their skills. The emphasis on growth and education makes 5%ers a valuable option for traders looking to scale their trading careers.
Leeloo Trading
Leeloo Trading is another solid alternative, offering a flexible and supportive trading environment. The firm provides a variety of account types, allowing traders to choose the one that best fits their trading style and risk tolerance. We found that Leeloo Trading’s evaluation process is straightforward, with clear profit targets and drawdown limits. The firm also offers a unique feature called “Leeloo Express,” which allows traders to quickly qualify for funding with a one-step evaluation process.
Conclusion
In our review, The Funded Trader proves to be a solid choice for traders looking to access substantial trading capital. The firm offers a structured challenge process, various account types, and high-profit splits, making it attractive for traders. Partnering with top brokers ensures a secure trading environment, and the comprehensive support and educational resources are excellent for skill enhancement. The flexibility in payout methods and account scaling potential further boosts its appeal.
Frequently Asked Questions on The Funded Trader:
What is The Funded Trader?
The Funded Trader is a proprietary trading firm that provides traders with access to substantial capital after they pass a trading challenge. This allows traders to scale their strategies without risking their own money. The firm offers various account types and profit splits.
How Do I Get Started With the Funded Trader?
To start, register on their website and select an account type. You will need to pass a trading challenge to qualify for a funded account. Once you pass, you can start trading with the firm’s capital.
How Does the Profit Split Work?
The Funded Trader offers profit splits up to 90/10. This means traders keep up to 90% of the profits while the firm takes the remaining percentage. The exact split depends on the account type and performance.
What Platforms Can I Use With the Funded Trader?
The Funded Trader supports Platform 5, cTrader, and DXtrade. These platforms are available through their partners, Voyage Markets and Thaurus LTD. However, they are restricted to clients outside the United States.
Do I Need to Pay Taxes on My Earnings?
Yes, traders are responsible for managing their own tax obligations. Trading profits are treated as business income. It’s advised to consult with a tax professional to ensure compliance with local tax laws.
