Attention Traders! Are you seeking a way to enter the market without risking your own funds? Or are you an experienced trader looking to increase your capital? Look no further! The right prop firm can offer what you need.
Props firms are an excellent way for traders to break into the market without gambling away their own money. If you’re a skilled trader searching for the best prop firm, you’ll need to research multiple trading companies and read reviews from trusted experts.
With multiple options to choose from, finding the right firm can be a daunting task. But don’t worry; we’re here to help!
In our review of The Funded Trader, we’ll give you all the information you need to decide if this proprietary trading firm is the right match for you.
What Is the Funded Trader?
The Funded Trader (TFT) is a proprietary trading firm that offers funded trading accounts to skilled traders. It helps traders grow their businesses by providing access to trade forex, commodities, indices, and crypto without risking their own capital.
Who Founded the Funded Trader?
The founders of the Forex League and VVS Academy teamed up to create The Funded Trader. The Forex League and VVS Academy are educational and mentorship programs designed to teach profitable trading strategies to traders.
However, the founders of these companies felt there was a gap in the market for prop firms that fully supported traders. Thus, they created the Funded Trader Program in 2020.
The Funded Trader’s CEO, Angelo Ciaramello, is a young entrepreneur who says his mission is to “gamify” the market, allowing traders to compete and become top traders.
How The Funded Trader Works
Let’s discuss how The Funded Trader works, including its trading challenges and rules.
There are four trading challenges you can choose from with The Funded Trader:
- Standard Challenge
- Rapid Challenge
- Royal Challenge
- Knight Challenge
Standard Challenge
The Standard Challenge allows traders to take advantage of additional drawdown and manage more initial capital. Traders can choose between a Swing Account or a Regular Account with the following initial balances: $25K, $50K, $100K, $200K, and $400K.
With a Swing Account, the leverage is 1:60, and traders can hold trades over the weekend. With a Regular Account, the leverage is 1:200, and no weekend trading is permitted.
To become a funded trader at TFT, you must pass the Standard Challenge Phases I and II. The trading rules for Phase I of the Standard Challenge are:
- Place trades for a minimum of three trading days
- Reach a 10% profit target
- Maintain the 6% daily drawdown parameters
- Maintain the 12% overall drawdown parameters
The rules for Phase II are:
- Place trades for a minimum of three trading days
- Reach a 5% profit target
- Maintain the 6% daily drawdown parameters
- Maintain the 12% overall drawdown parameters
Once you complete the Standard Challenge, you’ll be rewarded a funded account with the same initial balance as your evaluation work up the scaling plan to an account with as much as $1,500,000.
If you’re lookinmore significantrade with larger amounts of capital, the Standard Challenge is an excellent choice, as you can start with as much as $400,000.
Rapid Challenge
The Rapid Challenge lives up to its name, allowing traders to get funded in as little as three days and receive their first payout in twenty. Traders can choose between a Swing or Regular Account with the following initial balances: $50K, $100K, or $200K.
With a Swing Account, the l,everage is 1:30, and weekend holding is allowed. With a Regular Account, the leverage is 1:100 with no weekend holding.
No minimum trading days are required for the Rapid Challenge; once you pass, you get processed to the next phase in 12 hours and funded in three days maximum.
To pass the Rapid Challenge, you must abide by the trading rules for Phases I and II. The trading rules for Phase I of the Rapid Challenge are:
- Reach an 8% profit target
- Maintain the 5% daily drawdown parameters
- Maintain the 8% overall drawdown parameters
The trading rules for Phase II of the Rapid Challenge are:
- Reach a 5% profit target
- Maintain the 5% daily drawdown parameters
- Maintain the 8% overall drawdown parameters
After passing the Rapid Challenge, you’ll receive a funded account with a scaling plan of up to $1,500,000. If you’re a skilled trader looking to get funded fast, the Rapid Challenge is the best option, as it’s the fastest program available on The Funded Trader.
Royal Challenge
The Royal Challenge lets traders trade with expert advisors (EAs) and copy traders, which are automated trading programs that monitor and copy trades. Traders who sign up for the Royal Challenge have no lot size limit and can choose between the following account sizes: $50K, $100K, $200K, and $300K.
To pass the Royal Challenge, traders have to follow the trading rules of Phases I and II. Here’s what the rules look like for Phase I of the Royal Challenge:
- Place trades for a minimum of five trading days
- Reach an 8% profit target
- Maintain the 5% daily drawdown parameter
- Maintain the 10% overall drawdown parameters
- 1:200 leverage
Here are the rules for Phase II of the Royal Challenge:
- Place trades for a minimum of five trading days
- Reach a 5% profit target
- Maintain the 5% daily drawdown parameters
- Maintain the 10% overall drawdown parameters
- 1:200 leverage
After passing the Royal Challenge, The Funded Trader will reward you with a funded account with no lot limits. You can also trade news with zero restrictions and scale up to an account size of $1,500,000.
If you’re a trader who likes using automated trading programs and prefers fewer restrictions, then the Royal Challenge is an excellent option.
Knight Challenge
The Knight Challenge is a one-step evaluation process that allows traders to use expert advisors, make trades with no lot size limits, and receive weekly payouts. Traders who sign up for the Knight Challenge can choose from four different account sizes: $25K, $50K, $100K, and $200K.
With the Knight Challenge, traders have unlimited time to pass the evaluation. The Funded Trader will reward you with a funded account after you complete the following trading objectives:
- Reach a 10% profit target
- Maintain the 3% daily drawdown parameters
- Maintain the 6% overall drawdown parameters
- 1:30 leverage
After you nail these objectives, you can progress through a scaling towardrk your way to a $1,500,000 initial balance. If you’re a profitable trader who likes flexible trading, EAs, and more frequent payouts, then the Knight Challenge is a perfect choice.
Top Features of the Funded Trader
Let’s talk about The Funded Trader’s top features.
80-90% Profit Split
The Funded Trader lets traders keep 80% of their profits, which is the industry standard. But TFT stands out because funded traders can receive a 90% profit split by being consistent and showing excellent risk management skills.
Scaling Plan Up To $1,500,000
The Funded Trader lets profitable traders move up a scaling plan to trade with more capital. Traders who prove themselves profitable can manage as much as $1,500,000. This account size is impressive compared to what many other prop firms offer.
Funded Trader Competitions
TFT offers monthly competitions where you can compete to earn prizes, including free access to certain trading challenges. Each competition is free to sign up for and has different rules that traders must follow.
Discord Access
The Funded Trader has an active Discord channel with over 60,000 members. In Discord, prop traders can chat with one another and share trading strategies and tips. Even the CEO is active in Discord, responding to traders’ questions and updating them with new information.
The Funded Trader Pricing and Fees
So how much does it cost to trade with The Funded Trader? Let’s break down the prices of each trading challenge below!
Standard Challenge Prices
Here’s what the pricing looks like for a Standard Challenge Account:
| Standard Challenge Account | Refundable Fees |
| $25K | $189 |
| $50K | $315 |
| $100K | $549 |
| $200K | $949 |
| $400K | $1,898 |
The fees are the same whether you choose a Swing Account or a Regular Account. Also, TFT will refund the costs after you pass the Standard Challenge.
Rapid Challenge Prices
Here’s how the pricing for the Rapid Challenge works:
| Rapid Challenge Account | Refundable Fees |
| $50K | $299 |
| $100K | $499 |
| $200K | $899 |
Like the Standard Account, the fees are refundable after you pass the challenge.
Royal Challenge Prices
Here’s a breakdown of the costs for the Royal Challenge:
| Royal Challenge Account | Refundable Fees |
| $50K | $289 |
| $100K | $489 |
| $200K | $939 |
| $300K | $1,399 |
All fees are refundable after passing the Royal Challenge.
Knight Challenge Prices
Here’s how the pricing for the Knight Challenge works:
| Knight Challenge Account | Refundable Fees |
| $25K | $189 |
| $50K | $289 |
| $100K | $489 |
| $200K | $939 |
All fees are refundable after passing the Knight Challenge.
The Funded Trader Pros & Cons
Let’s break down the pros and cons of the Funded Trader prop firm.
The Funded Trader Pros
- Excellent profit split
- A scaling plan provides the opportunity for growth
- Multiplvariousg challenge options
- Trade multiple assets, including crypto
- Active Discord server
The Funded Trader Cons
- Slow customer service
- Many complaints of system glitches
- Lack of educational resources
- No free trials
User Reviews for the Funded Trader
The Funded Trader has a 4.6-star rating on TrustPilot, which isn’t bad but a little lower than other prop firms. Let’s see what kind of feedback traders give the Funded Trader Program!
Positive Reviews
One satisfied trader named Olivia says The Funded Trader is her favorite prop firm; she appreciates the helpful customer service and easy payout process.
Another happy reviewer named Keith appreciates The Funded Trader’s updates, deals, and incentives for growth.
Negative Reviews
But not everyone has loved their experience with The Funded Trader; one reviewer named Krisis complains about system glitches during the trading challenges.
Other reviewers expressed concerns about The Funded Trader blocking traders without reason.
The Funded Trader Alternatives
You now have a comprehensive overview of the Funded Trader Program, including how it works, its benefits and drawbacks, and what TFT traders are saying. If you’re still not sure the Funded Trader is a good fit for you, we recommend checking out these other competing prop firms:
Our Personal Experience with the Funded Trader
So what’s our opinion on how TFT compares to other prop firms? Overall, The Funded Trader is a solid prop firm that gives traders room to grow. We appreciate that they offer multiple programs to accommodate different types of traders and that each program has scaling plans with impressive amounts of capital.
TFT’s profit split is also very competitive compared to other prop firms; the opportunity to keep 90% of your profits sets TFT apart from its competition and incentivizes its traders to be successful.
Another feature we like about The Funded Trader is its monthly challenges; this feature is unique to TFT and creates a fun way for traders to compete with one another and earn extra benefits.
We also appreciate the active Discord channel that contributes to the community feel. Not only can traders connect with one another, but they can directly interact with the company’s CEO and express their questions and concerns.
Of course, TFT has its share of drawbacks. For one, the customer support chat is a bit slow; if you have questions or issues, it may take a while to receive a response.
We also wish that The Funded Trader provided more educational resources for their traders. The CEO of The Funded Trader has a separate company for forex education but does not offer any resources or perks to current TFT traders.
Conclusion: Should You Trade with the Funded Trader?
So should you trade with TFT? If you’re a profitable trader who hates restrictive rules, then The Funded Trader is an excellent choice. With few regulations, generous profit splits, and accounts up to $1,500,000, TFT does a fantastic job at accommodating traders with different trading styles.
However, if you’re a new trader still learning the ropes, The Funded Trader may not be the right prop firm for you. The ideal candidate for The Funded Trader already knows how to profit from selling multiple assets using a trusted trading style.
If you’re not the ideal candidate for The Funded Trader, check out some alternatives with our list of the Best Prop Trading Firms for Crypto!