In this The Funded Trader Program Review we will talk in debt about The Funded Trader company as a whole, what are their pros and cons and what possibly you can expect when buying a challenge from a leading company in the industry such as The Funded Trader. So without further due.. Let’s dive in!
Pros
- One of the most trustworthy companies out there
- Very active CEO
- Big community
- Regular Promotions
- Variations in challenge types
- Competitive prices
- Really good trading conditions
Cons
- Due to huge demand support can be slow sometimes
- Waiting time between Evaluation phases
- 30 days to first payout on standard/royal accounts
Table of Contents
What is The Funded Trader Program?
The Funded Trader is a well-known prop firm in the trading industry. It is currently the largest one in the United States and one of the top 3 biggest ones. They have paid out over $70 million to traders, with many receiving payouts in the five-figure range. The Funded Trader offers capital to skilled retail traders who show good risk management, consistent profits, and disciplined trading strategies. Their goal is to assist talented traders in achieving success by helping them establish their own trading businesses or “kingdoms,” as they like to call it.
Headquarters & Offices locations
Currently The Funded Trader got offices only in USA as they headquarters are located in Texas, USA on address: 14001 W HWY 29, Suite 102, Liberty Hill, TX 78642. They have also office in Miami, Florida.
Who is the CEO of The Funded Trader?
Angelo Ciaramello is a 24-year-old entrepreneur from New Jersey that has foundedThe Funded Traderback in 2020. His company started as a startup that gamified capital markets retail trading. The goal was to provide an opportunity for individual traders who would compete to get funded and make the top spot on the rankings leaderboard.
Angelo and his team managed to develop multiple funding challenges that provide individuals with the opportunity to trade the company’s capital and receive percentage-based profit splits. One of his greater achievements in life was that he was recognized to be one of the top 25 Financial Technology Leaders of New Jersey for the year 2022.
Anyone interested in following Angelo Ciaramello can do so by following hisInstagramandLinkedIn. This way, you will be able to see more of his posts and what he’s up to on a daily basis.
Funding options offered by The Funded Trader
The Funded Trader is currently offering 4 different types of evaluation challenges:
- Standard Challenge
- Rapid Challenge
- Royal Challenge
- Knight Challenge
We will discuss the details of each challenge type mentioned further below in this review.
Standard Challenge Account
Basic Info
Challenge Rules
Prices
Standard Challenge Basic Info:
Standard Challenge Account from The Funded Trader gives traders 2 options to choose from: Regular and Swing – where the main difference is the leverage you can trade on Swing accounts which is 1:60 while on the Regular one is 1:200. Another key difference is that swing account give you benefit to hold trades during news and over the weekend.
Regular Account Info
Swing Account Info
The Funded Trader’s standard challenge account serves the purpose of identifying dedicated and skilled traders who are rewarded for their consistent performance throughout the 2-phase evaluation period. In the Standard Regular Evaluation Program account, traders can utilize leverage up to 1:200 during the evaluation stages and 1:100 once they become funded. On the other hand, the Standard Swing Evaluation Program allows leverage up to 1:60 during evaluation and 1:30 after funding. The main distinction between the two is that swing accounts have the option to hold trades over weekends, whereas regular accounts require trades to be closed.
During evaluation phase one, traders must achieve a profit target of 10% while staying within the maximum daily loss limit of 5% and maximum overall loss limit of 10%. There are no specific requirements for the number of trading days in Phase-1, but a minimum of 3 trading days is necessary to proceed to phase two.
Evaluation Phase-2 entails reaching a profit target of 5% while adhering to the same maximum daily loss and maximum loss rules. Similar to Phase-1, there are no restrictions on the number of trading days, but a minimum of 3 trading days is required to qualify for a funded account.
Upon successful completion of both evaluation phases, traders are awarded a funded account, where there are no profit targets. The only rules to follow are the maximum daily loss limit of 5%, maximum overall loss limit of 10%, and lot size limitations. The first payout is scheduled 30 calendar days after placing the first position in the funded account, followed by subsequent payouts on a bi-weekly basis. The profit split ranges from 80% to 90% based on the trader’s profit in the funded account.
Standard Challenge Account Rules:
Profit targetis a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 10% while Phase-2 has a profit target of 5%. Funded accounts have no profit targets.
Maximum daily lossis the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
Maximum lossis the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
Minimum trading daysis the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 3 minimum trading day requirement. Funded accounts have no minimum trading days before being eligible for payouts.
Lot size limitrequires traders to follow specified lot sizes for specific trading instruments. These are most usually set based on the initial account balance of the prop firm account. Only on funded accounts.
No martingale allowedmeans that traders are not allowed to use any type of martingale strategy while trading.
Third-party copy trading riskmeans that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
No EAs allowedmeans that traders are not allowed to use any type of EA services. Only expert advisors for copying purposes are allowed.
Standard Challenge Account Prices:
| Account Size | Price |
| $5,000 | $65 |
| $10,000 | $129 |
| $25,000 | $199 |
| $50,000 | $299 |
| $100,000 | $499 |
| $200,000 | $939 |
| $300,000 | $1,409 |
| $400,000 | $1,879 |
Rapid Challenge Account
Basic Info
Challenge Rules
Prices
Rapid Challenge Account Basic Info:
Similar to Standard accounts Rapid ones also got Regular ones and Swing ones.
Regular Account Info
Swing Account Info
Rapid Challenge Account Rules:
Profit targetis a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 8% while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
Maximum daily lossis the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
Maximum lossis the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 8%.
Maximum trading daysare the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 35 trading days period while phase 2 has a maximum of 60 trading days period.
Lot size limitrequires traders to follow specified lot sizes for specific trading instruments. These are most usually set based on the initial account balance of the prop firm account. Only on funded accounts.
No martingale allowedmeans that traders are not allowed to use any type of martingale strategy while trading.
No weekend holdingmeans that traders are not allowed to hold open positions during the weekends.
Third-party copy trading riskmeans that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
No EAs allowedmeans that traders are not allowed to use any type of EA services. Only expert advisors for copying purposes are allowed.
Rapid Challenge Account Prices:
| Account Size | Price |
| $5,000 | $79 |
| $10,000 | $129 |
| $25,000 | $229 |
| $50,000 | $299 |
| $100,000 | $499 |
| $200,000 | $899 |
Royal Challenge Account
Basic Info
Challenge Rules
Prices
Royal Challenge Account Basic Info:
Royal Account Info
The Funded Trader’s Royal Challenge account is designed to identify dedicated and talented traders who demonstrate consistent performance during the 2-phase evaluation period. In the evaluation program account type, traders can utilize leverage up to 1:200.
During evaluation Phase-1, traders must achieve a profit target of 8% without exceeding the maximum daily loss of 5% or the maximum overall loss of 10%. The profit target should be reached within 35 calendar days from the day the first position is placed in the evaluation account. Additionally, a minimum of 5 trading days is required to proceed to Phase-2.
Evaluation Phase-2 entails reaching a profit target of 5% while adhering to the same maximum daily loss and maximum loss rules. The profit target should be reached within 60 calendar days from the day the first position is placed in the evaluation account. Similarly, a minimum of 5 trading days is required to qualify for a funded account.
Upon successfully completing both evaluation phases, traders are awarded a funded account with no profit targets. The only rules to follow are the maximum daily loss limit of 5%, maximum overall loss limit of 10%, and lot size limitations. The first payout is scheduled 30 calendar days after placing the first position in the funded account, followed by subsequent payouts on a bi-weekly basis. The profit split ranges from 80% to 90% based on the trader’s profit in the funded account.
Royal Challenge Account Rules:
Profit targetis a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 8% while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
Maximum daily lossis the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
Maximum lossis the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
Minimum trading daysis the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 5 minimum trading day requirement. Funded accounts have no minimum trading days before being eligible for payouts.
Maximum trading daysare the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 35 trading days period while phase 2 has a maximum of 60 trading days period.
No martingale allowedmeans that traders are not allowed to use any type of martingale strategy while trading.
Third-party copy trading riskmeans that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
Royal Challenge Account Prices:
| Account Size | Price |
| $50,000 | $289 |
| $100,000 | $489 |
| $200,000 | $939 |
| $300,000 | $1,399 |
| $400,000 | $1,869 |
Knight Challenge Account
Basic Info
Challenge Rules
Prices
Knight Challenge Account Basic Info:
Knight Account Info
The Funded Trader’s knight challenge account is designed to identify committed and talented traders who demonstrate consistent performance during the 1-phase evaluation program. In this evaluation program account type, traders can utilize leverage up to 1:30.
During the evaluation phase, traders are required to achieve a profit target of 10% without exceeding the maximum daily loss of 3% or the maximum trailing loss of 6%. There are no specific minimum or maximum trading day requirements in the evaluation account. The only requirement to become funded is reaching the profit target.
Upon successfully completing the evaluation phase, traders are awarded a funded account with no profit targets. The only rules to follow are the maximum daily loss limit of 3% and maximum trailing loss limit of 6%. The first payout is scheduled 7 calendar days after placing the first position in the funded account, with subsequent payouts occurring on a weekly basis. The profit split ranges from 80% to 90% based on the trader’s profit in the funded account.
Knight Challenge Account Rules:
Maximum daily lossis the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 3%. The maximum daily loss becomes 4% once you scale your account for the first time.
Maximum trailing drawdownis the maximum drawdown that is equal to the distance between the highest account balance achieved and the maximum drawdown. All account sizes have a maximum trailing drawdown of 6%.
No martingale allowedmeans that traders are not allowed to use any type of martingale strategy while trading.
Third-party copy trading riskmeans that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
Third-party EA riskmeans that if you intend to use an EA, you should keep in mind that by using a third-party EA, there might be other traders that are already using it and therefore using exactly the same trading strategy. By using a third-party EA, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
Knight Challenge Account Prices:
| Account Size | Price |
| $25,000 | $189 |
| $50,000 | $289 |
| $100,000 | $489 |
| $200,000 | $939 |
Scaling Plan offered by The Funded Trader
Standard/Royal/Knight accounts also have a scaling plan which is very similar. You are required to reach a profit target of 6% or more within a three-month period where two out of the three months were profitable. You will then receive an account increase of 25% of the original account balance.
Example:
After 3 months: If you have a $200,000 account, your account balance will increase to $250,000.
After more 3 months: Balance of $250,000 increases to $300,000.
After more 3 months: Balance of $300,000 increases to $350,000.
And so on…
Traders will also be eligible for 90% payout splits and a place in The Funded Trader’s King Program.
Scaling Plan for Rapid Accounts is a bit different where you are required to reach a profit target of 10% or more within a single profit split period. You will receive an account increase of 10% each time your withdrawal is greater than 10% of your initial account balance.
What makes The Funded Trader different from other prop firms?
The Funded Trader stands out among other top prop firms by offering traders a high degree of flexibility in their trading styles. Unlike many firms, they never impose restrictions on trading during news events, holding trades overnight, or trading on weekends. You can find a lot of challenge variations suitable for any trading style and also they are one the company which is doing quite a lot for its customers by making sure there is always a good promotional deal available. With all that being said you can be sure their prices are always relevant and one of the best in the industry.
UI and UX
The Funded Trader has a user interface that draws inspiration from a gamified medieval story theme. It presents you as the hero in your own kingdom, embarking on a trading journey to seek wealth and prosperity. Similar to real trading experiences, you will encounter both highs and lows, with winning streaks and challenging losses. In this fictional world, you assume the role of a knight and face numerous obstacles in order to claim your treasure chest. Whether you identify as a knight or a trader, the ultimate goal remains the same – to become the one and only KING in your story. Are you ready to embark on this exciting journey?
Dashboard
Their dashboard is well organized and is pretty much everything a trader needs from a prop firm. In their Trading Hub they have sections like: account metrics, leaderboards, competition (which is totally free to join and you can win awesome rewards on monthly basis), affiliate dashboard and few other cool options.
Trading Instruments and Fees
Brokers
The Funded Trader is currently partnered with 3 brokers: Eightcap, Think Markets and Purple Trading.
Eightcapis an ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a simple, straightforward mission to provide exceptional financial services to its clients. They have five offices around the globe and regulations in multiple locations providing clients worldwide with the ability to trade on markets across FX, indices, commodities, and shares.
Think Markets is a premium multi-asset online brokerage with headquarters located in London and Melbourne. They provide quick and easy access to a wide range of markets while delivering some of the most recognized trading solutions: MetaTrader 4, MetaTrader 5, and their in-house developed ThinkTrader platform.
Purple Trading aims to offer fair business conditions, and state-of-the-art technologies and become equal partners to their clients.
When choosing a broker with The Funded Trader please take in consideration that Eightcap and Think Markets both have Meta Trader 4 and Meta Trader 5 available while Purple Trading have only Meta Trader 4 available as option.
Instruments
You can go HERE and see all available instruments on The Funded Trader platform. Please note that this is official spreadsheet provided by the company.
Fees
- 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
Social Presence & Web traffic
Social Presence
The Funded Tradercan be found on almost every major social network. Their accounts are really developed and active. No wonder they got such active and big community. Here are some of their key metric:
– Twitter: 47.3k followers;
– Instagram: 75.8k followers;
– Facebook: 6.9k followers;
– TikTok: 8.1k followers;
– YouTube: 45k followers;
– Discord: 99k users;
– Telegram: 16.5k users;
Web Traffic
Data source: https://similarweb.com/
The Funded Trader is currently 3rd biggest prop firm by web traffic. They are holding steady above 2.5 millions visits per month for the last 3 months. Currently they are ranked on 143th place in Finance niche in USA on Google. On the pie chart you can see their traffic source by segments for the same period.
Community Feedback
The Funded Trader is having one of the most active communities out there and it is definitely a wild place to be.
Their Discord server is well organized and there you can pretty much find everything from casual chat with other traders to solid technical analysis talk.
They are also having payout section which is aiming to provide aspiring traders with motivation for their journey ahead. Of course this is adding up a lot of trust among the community members and overall is really nice to have such transparency.
The Funded Trader currently is having around 9k reviews on their Trust Pilot with an average rating of 4.5 which is really good rating assuming they already have a large amount of review samples.
Here are some reviews that had been recently posted:
Support
The Funded Traderhas aFAQpage where you might find the missing information.
The support team is available on their social media, or you can directly contact them on their emailsupport@thefundedtraderprogram.com.
They also have active live chat support, where you can message them, and you will get a reply on your email.
You can also check out theirDiscordchannel, as we already stated that above their Discord is really nice place to be, it has different channels where the support team and the community will help if you require any support or face technical issues.
Our Experience
We had been trading with The Funded Trader since December 2022. What we could say about the company is that their support became really slow during the course of 2023. Most of the time issues are not solved as it should be and the funded traders are not supported by professional representatives specially allocated to support funded traders. Which is causing a lot of problems with communication between the company and the traders.
The other thing we ran into is a false marketing campaigns on some of their discount promotions. We will not go into further details but we want to say here that it is really important to read the ToS every time even if it is not said they apply in the current promotion.
Anything else like trading conditions and spreads are as they should be. We didn’t noticed any difference between Evaluation account and Funded one. You have 3 solid options to choose from in terms of broker usage. Which offers traders great flexibility when they choose the broker they want to sign up for.
The KYC is easy and takes only a few minutes to complete in their website, while the process with withdrawals are also straightforward and takes up to 48 hours to complete.
Conclusion
In conclusion we can say that The Funder Pro is definitely a legit and big company. You will not go wrong if you decide to buy challenge account with them. You will receive premium prop firm trading experience while you can choose from variety of challenge types:
- Standard Challenge – 6% daily loss/ 12% maximum drawdown.
- Rapid Challenge – 5% daily loss/ 8% maximum drawdown.
- Royal Challenge – 5% daily loss/ 10% maximum drawdown.
- Knight Challenge – 3% daily loss/ 6% maximum drawdown + unlimited days to pass.
We highly recommend The Funded Trader to anyone searching for a prop firm with clear and uncomplicated trading rules. They are a reputable prop firm that provides favorable conditions for a diverse group of individuals with different trading styles. Taking everything into account, The Funded Trader is undoubtedly one of the best prop firms in the industry and you cannot go wrong if you start to trade with them.
Last updated: 08/09/2023
