REVIEW
The funded Trader
“The Funded Trader Review: Unveiling Insights and Evaluations”
“Empowering Traders: Unlock Capital Opportunities for Skilled and Committed Retail Traders to Thrive in Diverse Market Conditions with The Funded Trader”
The Funded Trader is grounded in the fundamental belief that every retail trader should have equitable access to capital commensurate with their performance and dedication to cultivating their trading enterprise. The firm actively identifies and engages with skilled and motivated traders capable of adeptly navigating diverse market conditions and achieving success with the support of its financial resources.
Sharing a common lineage with The Forex League and VVS Academy through shared founders, The Funded Trader has been instituted to address the unique needs of its community. It provides tailored solutions aligned with the overarching goals of its trader base.
The Funded Trader program actively seeks proficient and committed traders equipped to excel in volatile market environments. Through leveraging their expertise and harnessing the financial backing provided by the program, traders have the opportunity to realize substantial profits. Successful participants can oversee account sizes of up to $1,500,000, retaining a significant portion of the profits with profit splits reaching as high as 90%. This is achievable by trading an array of financial instruments, including forex pairs, commodities, indices, and cryptocurrencies.
Who are them?
Established on May 12, 2021, The Funded Trader is an exclusive proprietary firm operating in the United States. It facilitates access to substantial capital, reaching amounts of up to $1,500,000, and offers profit-sharing agreements of up to 90%. Noteworthy partnerships have been established with reputable brokers such as Eightcap and Purple Trading Seychelles.
Headquartered at 14001 W HWY 29, Suite 102, Liberty Hill, TX 78642, The Funded Trader was founded by Angelo Ciaramello, a 24-year-old entrepreneur from New Jersey. Originating as a startup in 2020, the firm initially focused on gamified retail trading within the capital markets. The primary objective was to create a competitive platform for individual traders to vie for funding and strive for top positions on the rankings leaderboard.
Under Angelo’s leadership, The Funded Trader successfully designed various funding challenges, offering individuals the opportunity to trade the company’s capital and receive profit-sharing based on predetermined percentages. Angelo gained recognition as one of the top 25 Financial Technology Leaders in New Jersey for the year 2022.
For those interested in staying informed about Angelo Ciaramello’s activities, they can follow his Instagram and LinkedIn profiles, gaining access to his regular posts and insights into his daily endeavors.
Funding Option
The Funded Trader offers its traders four different programs to choose from:
Standard challenge accounts:
1) Standard regular challenge accounts
2) Standard swing challenge accounts
Rapid challenge accounts
1) Rapid regular challenge accounts
2) Rapid swing challenge accounts
Royal challenge accounts
Knight challenge accounts
Standard challenge account
The principal objective of the Funded Trader standard challenge account is to identify dedicated and proficient traders who consistently exhibit robust performance throughout a two-phase evaluation period. The standard evaluation program enables traders to engage in trading activities with a leverage ratio of 1:200, while the swing evaluation programs permit trading with a leverage ratio of 1:60. Notably, swing accounts offer the option to maintain trades over weekends, a distinction from regular accounts where trades necessitate closure.
During the initial evaluation phase, traders are required to attain a 10% profit target while adhering to a maximum daily loss limit of 6% and a maximum loss threshold of 12%. Fulfillment of the profit target within 35 calendar days from the initial position placement in the evaluation account is mandatory. Additionally, a minimum of three trading days must be completed to progress to the second phase.
In the subsequent evaluation phase, traders must achieve a 5% profit target while staying within the 6% maximum daily loss and 12% maximum loss limits. The profit target for this phase should be reached within 60 calendar days from the placement of the first position in the evaluation account. Similar to phase one, a minimum of three trading days is required to advance to a funded account.
The scaling plan for this challenge entails achieving a profit target of 10% or more within a four-month period, with two profitable months and the final month concluding in profit. Meeting this milestone results in an account increase of 40% of the original, with the potential to increase the account balance up to $4,000,000. The profit share also increases to 90% during the initial scaling of the account.
Standard challenge accounts also incorporate a scaling plan, requiring traders to achieve a profit target of 6% or higher within three months, with at least two out of three months showing profitability. Upon meeting these criteria, traders receive an account increase equal to 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 the next 3 months: The balance of $250,000 increases to $300,000.
After the subsequent 3 months: The balance of $300,000 increases to $350,000.
And so forth…
Trading instruments for standard challenge accounts include forex pairs, commodities, indices, and cryptocurrencies.
Rules for Standard Challenge Accounts:
The profit target represents a specific percentage of profit that traders must achieve before becoming eligible to complete an evaluation phase, withdraw profits, or expand their accounts. Phase 1 requires a profit target of 10%, while Phase 2 requires a profit target of 5%. Funded accounts do not have profit targets.
The maximum daily loss denotes the upper limit on the amount of loss a trader can incur within a single day before the account is considered in violation. Irrespective of account size, all traders are subject to a uniform maximum daily loss of 6%.
The maximum loss refers to the highest permissible overall loss that traders can experience before their account is deemed in violation. A consistent maximum loss threshold of 12% exists across all account sizes.
Minimum trading days represent the minimum duration that traders must actively engage in trading before completing an evaluation phase or requesting a withdrawal. Both evaluation phases necessitate a minimum of three trading days. Funded accounts do not have a minimum trading day requirement before being eligible for payouts.
Maximum trading days denote the maximum duration within which traders must achieve a specific profit target or withdrawal target. Phase 1 allows a maximum trading period of 35 days, while Phase 2 allows for a maximum of 60 trading days.
The lot size limit dictates that traders must adhere to specified lot sizes for specific trading instruments, typically determined based on the initial account balance of the prop firm account. This requirement applies exclusively to funded accounts.
The prohibition of martingale strategies implies that traders are not allowed to utilize any form of martingale strategy while trading.
The risk associated with third-party copy trading emphasizes that if traders intend to use copy trading services, they should be aware that utilizing such services carries the risk of being denied a funded account or withdrawal if the maximum capital allocation rule is exceeded due to other traders implementing the same trading strategy.
The restriction on EA usage signifies that traders are not permitted to utilize any form of EA services. However, expert advisors for copying trades are allowed.
Rapid challenge account
The Funded Trader Rapid Challenge Account is crafted to recognize and compensate proficient traders for their consistent performance through a meticulous two-phase evaluation process. In the standard evaluation program, traders can partake in trading with a leverage ratio of 1:100, while the swing evaluation program offers a ratio of 1:30. Notably, swing accounts permit the retention of trades over weekends, whereas regular accounts necessitate trade closure.
In the initial evaluation phase, traders must attain an 8% profit target while adhering to maximum daily and loss limits of 5% and 8%, respectively. This profit target must be achieved within 35 calendar days from the commencement of trading in the evaluation account. Importantly, there are no minimum trading day prerequisites for progression to the second phase.
The second evaluation phase requires traders to reach a 5% profit target while staying within the specified maximum daily and maximum loss limits of 5% and 8%, respectively. This target must be achieved within 60 calendar days from the initiation of trading in the evaluation account. Similar to phase one, there are no minimum trading day requirements for advancement to a funded account.
Upon successful completion of both evaluation phases, traders receive a funded account without profit targets. Their sole obligations are to observe a maximum daily loss limit of 5%, a maximum loss limit of 8%, and prescribed lot size restrictions. The first payout is scheduled for 14 calendar days after the initial position is established in the funded account, followed by subsequent payouts on a bi-weekly basis. The withdrawal schedule and corresponding profit split percentages can be found in the accompanying spreadsheet.
Starting from the fourth payout and onwards, the profit split is set at 80%. Rapid Challenge Accounts also incorporate a scaling plan. To receive a 10% account increase, a profit target of 10% or more must be achieved within a single profit split period, and each withdrawal exceeding 10% of the initial account balance triggers this increase.
For standard challenge accounts, trading instruments encompass forex pairs, commodities, indices, and cryptocurrencies.
Rules for Rapid Challenge Accounts:
The profit target denotes a predetermined percentage of profit that traders must achieve to successfully conclude an evaluation phase, initiate profit withdrawals, or expand their trading account. Phase 1 necessitates an 8% profit target, while Phase 2 entails a profit target of 5%. It is crucial to note that funded accounts are exempt from profit targets.
The maximum daily loss signifies the upper limit of allowable losses a trader can incur within a single day before the account is deemed in violation. Irrespective of account size, all traders are subject to a maximum daily loss restriction of 5%.
The maximum loss represents the highest permissible aggregate loss that traders can experience before the account is considered in violation. Consistently, all account sizes adhere to a maximum loss threshold of 8%.
The maximum trading days indicate the maximum duration within which traders are expected to achieve specific profit or withdrawal targets. Phase 1 necessitates a maximum trading period of 35 days, while Phase 2 allows for a maximum trading period of 60 days.
The lot size limit mandates traders to adhere to specified lot sizes for individual trading instruments. These lot sizes are generally determined based on the initial account balance of the proprietary firm account. This requirement applies exclusively to funded accounts.
The prohibition of martingale strategies disallows traders from employing any form of martingale strategy during trading activities.
The restriction on weekend holding prohibits traders from maintaining open positions during weekends.
The risk associated with third-party copy trading indicates that if traders choose to utilize copy trading services from third-party providers, they should be aware that there may be other traders utilizing the same trading strategy. Engaging in third-party copy trading carries the potential risk of being denied a funded account or withdrawal if the maximum capital allocation rule is exceeded.
The disallowance of EAs (Expert Advisors) signifies that traders are not permitted to use any form of EA services, with the exception of expert advisors designed for copying purposes.
Royal Challenge account
The primary objective of the Funded Trader Royal Challenge Account is to identify proficient and dedicated traders who consistently demonstrate strong performance throughout the two-phase evaluation period. The rewards are directly correlated to their performance, and the evaluation program allows traders to enhance their trading leverage with a 1:200 ratio.
During the initial evaluation phase, traders are required to achieve an 8% profit target within 35 calendar days, while ensuring they do not exceed a 5% maximum daily loss and a 10% maximum overall loss. Additionally, a minimum of five trading days must be completed to progress to the second phase.
In the subsequent evaluation phase, traders must attain a 5% profit target within 60 calendar days, adhering to the same 5% maximum daily loss and 10% maximum overall loss constraints. Similar to the first phase, a minimum of five trading days is a prerequisite for advancing to a funded account.
Upon successful completion of both evaluation phases, traders are granted a funded account, free from specific profit targets. However, they must continue to adhere to the 5% maximum daily loss, 10% maximum loss, and lot size limit rules. The initial payout occurs 30 calendar days after the first trade on the funded account, with subsequent payouts recurring bi-weekly. The profit split varies from 80% to 90%, contingent on the profitability achieved on the funded account.
The Royal Challenge Accounts incorporate a scaling plan, necessitating traders to achieve a profit target of 6% or higher within three months, with at least two out of the three months being profitable. Meeting this requirement results in a 25% increase in the original account balance.
For instance, after three months, a $200,000 account balance would increase to $250,000, and this pattern continues with subsequent increments every three months.
The eligible trading instruments for Royal Challenge Accounts include forex pairs, commodities, indices, and cryptocurrencies.
The rules governing Royal Challenge Accounts are as follows:
Profit Target: A specific percentage of profit required before completing an evaluation phase, withdrawing profits, or scaling an account. Phase 1 has an 8% profit target, while Phase 2 requires a 5% profit target. Funded accounts have no profit targets.
Maximum Daily Loss: The maximum daily loss allowable before violating the account. All account sizes have a 5% maximum daily loss.
Maximum Loss: The maximum overall loss allowable before violating the account. All account sizes have a 10% maximum loss.
Minimum Trading Days: The minimum period required for trading before completing an evaluation phase or requesting a withdrawal. Both phases have a minimum trading day requirement of five. Funded accounts have no minimum trading days before eligibility for payouts.
Maximum Trading Days: The maximum period within which a specific profit target or withdrawal target must be achieved. Phase 1 has a maximum of 35 trading days, while Phase 2 has a maximum of 60 trading days.
No Martingale Allowed: Traders are prohibited from employing any martingale strategy.
Third-Party Copy Trading Risk: If utilizing copy trading services, traders should be aware of potential risks related to the use of a third-party service, including the possibility of exceeding the maximum capital allocation rule, leading to denial of a funded account or withdrawal.
Knight Challenge accounts
The Funded Trader Knight Challenge account is meticulously designed to discern committed and adept traders who consistently exhibit superior performance throughout a singular evaluation phase. This program presents an opportunity to engage in trading with a leverage ratio of 1:30.
In the evaluation phase, traders are mandated to attain a 10% profit target while ensuring adherence to the stipulated maximum daily loss of 3% or a maximum trailing loss of 6%. There are no prescribed criteria for the number of trading days within the evaluation account; the singular condition for qualification remains achieving the profit target.
Upon the successful completion of the evaluation phase, traders gain entry to a funded account, wherein profit targets cease to be applicable. Nevertheless, traders are obligated to adhere to the maximum daily loss limit of 3% and the maximum trailing loss limit of 6%.
The inaugural payout is scheduled seven calendar days after initiating the initial position in the funded account. It is crucial to note that subsequent payouts will adhere to a weekly schedule. The profit split ratio ranges from 80% to 90%, contingent on the profitability achieved in the funded account.
The Knight Challenge accounts also encompass a scaling plan. Traders are obligated to achieve a profit target of 6% or more within three months, with at least two out of the three months yielding profitability. Fulfilling these criteria results in a 25% augmentation of the original account balance. Furthermore, upon scaling their account for the first time, the profit split ratio escalates from 80% to 90%, and the maximum daily drawdown limit increases from 3% to 4%.
What's makes it different from other prop firm?
When evaluating proprietary firms matching your forex trading style, it’s crucial to assess the feasibility of their trading requirements. While an attractive proposition may involve a company offering a significant profit split on a well-capitalized account, it’s essential to scrutinize whether they impose challenging monthly profit targets and strict maximum drawdown limits. This combination significantly reduces the chances of achieving success.
Gaining access to capital through the standard challenge program accounts is generally seen as feasible due to their reasonable profit targets (10% in phase one and 5% in phase two) along with relatively lenient maximum loss regulations (6% maximum daily and 12% maximum loss).
Likewise, securing capital through the rapid challenge program accounts is considered attainable primarily because of their comparatively lower profit targets (8% in phase one and 5% in phase two) paired with average maximum loss guidelines (5% maximum daily and 8% maximum loss).
Furthermore, obtaining capital through the royal challenge program accounts is viewed as realistic mainly due to their relatively modest profit targets (8% in phase one and 5% in phase two) complemented by average maximum loss restrictions (5% maximum daily and 10% maximum loss).
Similarly, acquiring capital through the knight challenge program accounts is perceived as feasible primarily due to their average profit target of 10% and moderate maximum loss regulations (3% maximum daily and 6% maximum trailing loss).
After a thorough examination of these factors, The Funded Trader stands out as an excellent choice for obtaining funding. This is because they offer four distinct funding programs, each with achievable trading goals and necessary conditions for qualifying for payouts.
Payment Verification: The Funded Trader was established on May 12, 2021. Once traders secure funding, they become eligible for bi-weekly payouts with no minimum profit target requirement.
Is getting capital real?
When assessing proprietary trading firms that align with your forex trading style, it is imperative to evaluate the viability of their trading requirements. While a prop trading firm may propose a substantial percentage profit split for well-funded accounts, it is crucial to scrutinize whether they anticipate unrealistically high monthly gains alongside maintaining low maximum drawdown percentages, as such expectations may significantly constrain your probability of success.
The rationale behind the practicality of obtaining capital through standard guardian evaluation programs lies in their relatively modest profit targets (8% in phase one and 4% in phase two) combined with reasonable maximum loss parameters (4% maximum daily and 10% maximum loss).
In a similar vein, the feasibility of acquiring capital through unlimited guardian evaluation programs is rooted in their achievable profit targets (8% in phase one and 4% in phase two) and sensible maximum loss regulations (4% maximum daily and 8% maximum loss). Furthermore, these programs afford the flexibility of an unlimited maximum trading day period for completing both evaluation phases.
Taking these considerations into account, Blue Guardian emerges as a commendable choice for securing funding. Both phases of their two-step evaluation program outline realistic trading objectives and provide favorable conditions for receiving payouts.
Verification of payments Blue Guardian, established as a corporate entity in June 2019 and subsequently going public in September 2021, allows traders who successfully complete their two-phase evaluation process, attain a funded account, and generate profits to request withdrawals. It is pertinent to note that withdrawal requests can be submitted bi-weekly.
Evidence of payments, predominantly shared within the community, is accessible on Blue Guardian’s Telegram channel.
which broker they use?
The Funded Trader employs the brokerage services of both Eightcap and Purple Trading Seychelles. Eightcap, headquartered in Melbourne, Australia, is regulated by the Australian Securities and Investments Commission (ASIC). Since its establishment in 2009, Eightcap has been consistently dedicated to providing outstanding financial services to its clients. With a global presence spanning five offices, Eightcap operates under regulatory frameworks in multiple jurisdictions, allowing clients from all over the world to participate in trading across various markets, including foreign exchange (FX), indices, commodities, and shares.
If you opt for Eightcap as your broker, you will gain access to trading platforms like Meta Trader 4 and MetaTrader 5. Conversely, if you choose Purple Trading Seychelles, your trading options will be limited to the MetaTrader 4 trading platform.
Trading Options: The Funded Trader program offers opportunities for forex trading with leverage ratios of 100:1 (increasing to 200:1 during the evaluation phase). Additionally, you can engage in trading commodities with a leverage ratio of 40:1, indices with a leverage ratio of 20:1, and cryptocurrencies with a leverage ratio of 2:1.
Education and support fro traders
The Funded Trader’s official website does not provide any educational materials or resources. However, it has garnered mentions and references within the ‘PROP FIRM HUB’ thread on ForexFactory, initiated by a user named Mastermind.
The company offers a well-structured dashboard that is accessible to all clients. This dashboard greatly assists in efficient risk management by presenting a comprehensive overview of essential statistical information, such as open positions and other relevant objectives.
To locate missing information, The Funded Trader offers a detailed FAQ page, serving as a valuable resource. If you need direct assistance, their support team can be contacted through various channels. You can find them on their official social media platforms or reach out via email at support@thefundedtraderprogram.com. Additionally, their website features an active live chat support option, and you can anticipate a prompt response delivered to your specified email address upon sending a message through this platform. For a more interactive experience, you can explore their Discord channel, where distinct channels are available for both the support team and the community to assist with general support or
Trader's comment about it
The reviews for The Funded Trader have been notably positive. On Trustpilot, a diverse range of contributions and favorable comments has culminated in an impressive rating of 4.7 out of 5, based on 5,940 reviews. Additionally, the firm boasts a dependable support team consistently delivering the necessary information to clients.
Community testimonials highlight The Funded Trader’s commendable responsiveness and empathetic assistance, underscoring the company’s strong dedication to ensuring customer satisfaction.
Noteworthy is The Funded Trader’s adept integration of positive attributes from various proprietary firms, resulting in a comprehensive and well-rounded offering.
Social media stats
The Funded Trader can also be found on social media.
They have a:
- Instagram account with 25,5k followers,
- Telegram account with 8,527 subscribers, and
- Youtube channel with 13,6k subscribers and 248 uploaded videos.
Additionally, they maintain an active Discord channel boasting a substantial membership of 42,641 individuals. This platform serves as an avenue to stay updated with the latest announcements, seek assistance in the dedicated support channel, or engage in discussions with fellow community members regarding trading strategies.
Conclusion
In brief, The Funded Trader is a distinguished proprietary trading firm offering four distinct funding programs: Standard, Rapid, Royal, and Knight. The Standard Challenge program involves a two-phase evaluation process, aligning with industry norms, where traders must fulfill specific criteria to secure funding and qualify for profit shares. To be eligible for funding, traders are obligated to achieve profit targets of 10% in the first phase and 5% in the second phase. These targets are realistic and practical, particularly when accompanied by risk management rules, including a maximum daily loss of 6% and a maximum loss limit of 12%. Participation in the Standard Challenge program allows traders to earn profit shares of up to 90% and presents an opportunity to expand their accounts.
Likewise, the Rapid Challenge program follows a similar two-phase evaluation structure in line with industry standards. Traders must meet profit targets of 8% in the first phase and 5% in the second phase to secure funding. The risk management guidelines, encompassing a maximum daily loss of 5% and a maximum loss limit of 8%, render these trading objectives realistic and reasonable. Successful completion of the Rapid Challenge program enables traders to earn profit shares of up to 90% and provides the option to grow their accounts.
The Royal Challenge program also adheres to industry standards, employing a two-phase evaluation process. Traders seeking funding must achieve profit targets of 8% in the first phase and 5% in the second phase. With risk management rules specifying a maximum daily loss of 5% and a maximum loss limit of 10%, these trading objectives are both realistic and attainable. Successfully completing the Royal Challenge program allows traders to earn profit shares of up to 90% while retaining the ability to expand their accounts.
Finally, the Knight Challenge program is a one-step evaluation process, requiring traders to successfully complete a single phase before becoming funded and eligible for profit shares. Traders must reach a profit target of 10%. Considering the risk management guidelines of a maximum daily loss of 3% and a maximum trailing loss of 6%, these trading objectives are practical and attainable. Participants in the Knight Challenge program have the opportunity to earn profit shares ranging from 80% to 90% while also having the ability to expand their accounts.
Based on my assessment of The Funded Trader’s offerings, I unequivocally endorse their services for individuals seeking a prop firm with clear and transparent trading rules. They are a well-established firm that provides favorable conditions for a diverse range of traders with varying styles. Given their comprehensive features and reputation as an industry-leading prop firm, The Funded Trader stands out as an excellent choice.