Funding Traders Review: Is This New Prop Firm Worth Your Trust?

Funding Traders Review: Is This New Prop Firm Worth Your Trust?

Welcome to my Funding Traders Review!

Funding Traders entered the market in 2023, offering funded accounts to aspiring traders. Despite its appealing features, the firm’s lack of industry experience raises questions about its reliability. This review will analyze Funding Traders in terms of safety, funding options, trading rules, fees, customer support, and more. By the end, you’ll have a clear idea of whether this prop trading firm is a safe choice or a potential risk

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Pros & Cons of Funding Traders Review

Funding Traders Review

Pros

  • No Withdrawal Fees: Enjoy fee-free withdrawals.
  • Varied Funding Options: Offers funding from $5k to $500k, including specialized plans like Pro, Elite, and Apex.
  • MetaTrader 4 & 5 Access: Access popular trading platforms.
  • Quick Account Setup: Fast digital account opening and verification.
  • Multiple Market Access: Trade Forex, indices, commodities, and crypto.
  • Scaling Plan: Potential for a 25% capital increase every 3 months.
  • Convenient Payment Options: Most are free and instant.

Cons

  • New to the Industry: Established in 2023, lacking a track record.
  • Strict Rules: Imposes limitations on position sizing and risk.
  • No Educational Resources: Doesn’t offer training for traders.
  • Limited Customer Support: Only virtual assistance and email support.
  • Challenge Fees: Charges for each challenge or funding option without a free trial.

Safety of Funding Traders — 1.5/5

Funding Traders reviews on established platforms like Forex Peace Army (FPA) are lacking, which is a key safety indicator. Additionally, the firm doesn’t partner with regulated brokers for its services, relying instead on CBT, a tech solutions provider for brokers, rather than acting as a broker itself. While it also offers services through Blueberry Markets, a regulated broker, its overall score in this section remains low due to insufficient transparency and experience.

Funding Options & Maximum Capital Allocation — 4/5

CEO Stan Funding Traders
CEO Stan Funding Traders

Funding Traders offers both one-step and two-step evaluation phases, allowing traders flexibility in choosing their evaluation method. The firm’s funded programs cover $5k to $500k, with advanced options like Pro, Elite, and Apex plans for experienced traders seeking higher capital. The Pro plan, for instance, provides a $500,000 funded account for a one-time $2,500 fee.

The scaling plan allows a 25% capital increase every three months for traders with profits of at least 10% of the starting balance. The range of funding options gives Funding Traders a solid score in this category.

Asset Availability — 3.5/5

Funding Traders focuses on Forex pairs but also includes indices, gold, and cryptos. The firm’s leverage varies by asset class: Forex pairs at 1:100, indices and gold at 1:50, and cryptos at 1:5. However, it lacks stock trading and other asset types, limiting diversification options.

Trading Rules & Limitations — 2.1/5

The firm enforces strict rules to manage risk. For instance, there’s no limit on lot size, but trades must be consistent in size. The daily loss limit is 4%, and the overall drawdown is capped at 5%. Although the limits are slightly more restrictive than those of other prop firms, they aim to protect both the trader and the firm’s capital.

Additional Rules:

  • Unlimited Trading Days
  • Allowed: News trading and holding positions over the weekend
  • Not Allowed: EAs, trading robots, and copy trading
  • Maximum Loss Limits: 5% for one-step and 10% for two-step evaluations.

These strict rules make Funding Traders a challenging platform for risk-takers, and the lack of allowance for trading tools like EAs affects its score here.

Fees & Costs — 2.5/5

Funding Traders doesn’t offer a free trial, and each funding option incurs a fee. For example:

Account Size 1-Step Fee 2-Step Fee
$5,000 $50 $50
$10,000 $100 $100
$50,000 $300 $300
$100,000 $550 $550
$500,000 $2,500 $2,500

The firm also lacks a free repeat option, requiring traders to restart the challenge from scratch if they fail. A 24% discount on sign-up is available along with a 90% profit split, but without a free trial, the firm’s score in this area remains modest.

Platforms Offered — 3.9/5

Funding Traders uses platforms like MetaTrader 4 and MetaTrader 5, accessible for both desktop and mobile. Although the firm’s website doesn’t specify the trading platform, it’s assumed that they support MetaTrader based on their brokerage partnerships. The MetaTrader offering is a solid feature that aligns with industry standards.

Profit Sharing — 3/5

Funding Traders scam

Funding Traders provides an 80% profit split, with the potential to reach 100%. While a 100% profit split sounds enticing, it’s unusual in prop trading and may raise concerns about the firm’s profitability model. However, the minimum withdrawal amount is set at a reasonable $50.

Educational Resources — 0.5/5

Unfortunately, Funding Traders does not offer educational resources or training tools. A basic help center and FAQ section are available, but traders must seek educational content elsewhere. The firm’s lack of a learning component reduces its score significantly in this area.

Customer Support — 1.5/5

Customer support is limited to a live chat feature on the website and email assistance. However, the chat feature only provides virtual assistance, which might not be sufficient for complex inquiries. There is no phone support or multilingual assistance, so traders with questions are left with minimal options.

Frequently Asked Questions

Is Funding Traders a good prop firm? The firm’s lack of FPA reviews and limited experience makes it a risky choice. While it offers some appealing features, the lack of customer feedback, educational resources, and robust support options is a red flag.

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