FunderPro is a proprietary trading firm based in Malta. Founded in 2019 with the goal of transforming how traders interact with financial markets by creating opportunities to trade with lower risks. Their challenges have been carefully designed to allow traders of all levels of experience a fair opportunity to pass while not limiting their path to achieving success. The team at FunderPro is highly experienced, dedicated to providing the best possible trading environment. Their proprietary trading platform offers traders access to various markets, including forex, stocks, commodities, metals, and indices while allowing traders to manage account sizes up to $200,000 and take home 80% of the profits. The platform is user-friendly and fully integrated with the latest in trading technology. Plus, the team at FunderPro also provides clients with regular market updates, analysis, and advice. Their funded account challenge is designed to help traders improve their skills and reach their trading goals. With multiple evolution phases, traders can easily track their progress and adjust their strategy. The prop firm valuates their potential with a 2-phase evaluation process, where traders are given a demo account with virtual funds to trade on, while FunderPro monitors their performance. Let’s dive into more details of the FunderPro prop trading firm:
FunderPro is a proprietary firm incorporated in February 2023 with an office based in Malta while offering its traders a chance to work with capital up to $200,000. They are partnered with a tier-1 liquidity provider that grants them direct market access as their broker.
Their offices are located at 30/1, Kenilworth Court, Sir Augustus Bartolo Street, Ta’Xbiex XBX1093, Malta.
Another interesting fact about FunderPro is that they have announced that they will be sponsoring Oliver Bearman, a young British racing driver who is part of the Ferrari F1 Driver Academy and is currently competing with Prema Racing in FIA Formula 2. Bearman has already achieved a great deal in his career, winning several titles, including the 2021 German and Italian FIA Formula 4 Championships. He is considered to be one of the most promising talents in the sport, and FunderPro has forged a partnership to support him as he continues to progress up the ranks.
“We are thrilled to be sponsoring Ollie Bearman and supporting such a promising young talent,” said Gary Mullen, CEO of FunderPro. “As a new entrant to the proprietary trading industry, we are always seeking innovative ways to connect with our audience, and partnering with a young, dynamic driver like Ollie is a perfect fit. His journey resonates with how we approach investing in aspiring traders’ development.”
The partnership between FunderPro and Ollie Bearman will see the firm’s branding displayed on Ollie’s racing car, suit, and social media channels during the F2 race calendar. FunderPro and Ollie’s team will work together to broaden the sponsorship’s global reach and communicate the message that success comes from hard work and perseverance. The company believes that through partnerships like this, it can make a positive impact on young people’s lives by educating them about the global markets and the communities they are part of.
Gary Mullen is the CEO of FunderPro. He and his team have worked hard to create a challenge that will be, in his words,” a game changer” in the proprietary trading firm industry. This is due to the fact that they have eliminated all the complicated trading rules while also presenting traders with unlimited time to complete the challenge.
He and his team are excited to offer traders worldwide the opportunity to showcase their trading skills and trade their capital in order to receive real capital gains. In addition, he also believes that all the additional resources that FunderPro is offering will also help traders improve their trading performance, meaning that they will start achieving better results while working with them.
FunderPro was brought to market by Red Acre Group, which is an innovative fintech powerhouse with cutting-edge technology at the heart of its operational framework. Red Acre Group is a leading expert in several advanced industries, including fintech and blockchain technology. The firm offers outstanding business solutions to organizations seeking to outsource professionals in order to elevate their operations to new heights. The primary aim of Red Acre Ltd is to minimize the challenges of running a business and devise strategies, platforms, and sustainable solutions for optimal performance and success in the long term.
When it comes to trading in the financial markets, having access to adequate funding is crucial. FunderPro offers a range of funded trading accounts, each tailored to meet the unique needs of traders. Let’s take a closer look at the various funding program options offered by FunderPro.
Account Types and Trading Requirements
FunderPro offers four distinct funded trading accounts, each with different funding amounts but sharing the same requirements and benefits. These accounts are designed to accommodate traders at different stages of their trading journey and provide a structured approach to risk management and profitability.
(Add requirement table)
FunderPro evaluation program accounts aim to identify consistent and disciplined traders who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100.
$25,000: This is the most prevalent challenge amount within FunderPro. With this challenge, traders need to achieve the profit target of 10% in Phase 1 Evolution and 8% in Phase 2 Verification. There is no time limit for both phases, and traders must maintain a 5% daily drawdown and a 10% overall drawdown throughout. Once the trader hits the required profit target, they are eligible for funding. The total funding amount equals the challenge amount plus the profit earned. For example, with a $25,000 challenge and a 10% profit target, the total funding amount equals $27,500. The leverage available for this challenge is 1:100, and the refundable fee is $250. This makes the funded account evolution process easy and cost-effective for all traders. This amount of challenge is ideal for traders who are just starting out and want to build a solid foundation for their trading career.
$50,000: This is the second challenge amount within FunderPro. To qualify for funding, traders must make a profit of 10% in Phase 1 Evolution and 8% in Phase 2 Verification. On the $50,000 amount, the maximum daily drawdown is $2,500, and the overall drawdown should not exceed 10%. In addition, the maximum overall drawdown should not exceed 10%, which is $5,000. The leverage available for this challenge is 1:100, and the minimum trading days in phases 1 and 2 are 5.
The refundable fee for this challenge is $300, which makes it an excellent option for intermediate traders who are looking to improve their trading skills further. With the right trading strategies and discipline, traders can turn this amount into significantly more.
$100,000: The third most popular challenge amount is $100,000. The leverage available for this challenge is 1:100, and the minimum trading days in phases 1 and 2 are 5. The maximum daily drawdown should not exceed $5,000, and the overall drawdown should not exceed 10%.
The refundable fee for this challenge is $550, making it a great option for experienced traders looking to take their trading careers further. This amount account is ideal for traders who want to have a larger amount to work with and have the experience to manage it efficiently.
$200,000: The fourth challenge amount is $200,000. The profit target for this challenge is 10% in Phase 1 and 8% in Phase 2. The maximum daily drawdown should not exceed $10,000, and the overall drawdown should not exceed 10%, which will be $20,000.
The leverage on this account is 1:100, and the minimum trading days in phases 1 and 2 are 5. The refundable fee for this challenge is $995, which makes it a great option for experienced traders as this account comes with a larger amount to trade.
All these accounts mentioned above come with advanced trading tools, customer support, and the Consistency Rule to ensure that traders are able to make a consistent profit from trading. The funded account evolution process at FunderPro gives traders a chance to take their trading career to the next level and become successful in a safe and secure environment.
Evaluation program accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a three-month period where two out of the three months were profitable. You will receive an account increase of 50% of the original account balance.
After 3 months: If you have a $200,000 account, your account balance will increase to $300,000.
After next 3 months: Balance of $300,000 increases to $400,000.
After next 3 months: Balance of $400,000 increases to $500,000.
And so on…
Trading instruments for the evaluation program accounts are forex pairs, commodities, indices, stocks, and cryptocurrencies.
- Profit target is 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 8%. Funded accounts have no profit targets.
- Maximum daily loss is 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 loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
- Minimum trading days is 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. However, on a funded account, you have no minimum trading day requirements.
- The consistency rule is a rule that requires traders to have consistent position sizes, risk management, losses, gains, etc… Meaning that the characteristics of the account results should not differentiate drastically. The profits earned on your best trade must not exceed 60% of the overall profit target.
To assist you in understanding the key components of the FunderPro Trading Challenge, we have prepared a breakdown of its phases, requirements, and associated benefits. This breakdown will help you navigate through the program’s structure and grasp the progression from the initial phase to becoming a funded trader. By outlining the requirements, targets, and advantages at each stage, you will gain a clearer understanding of the pathway this challenge offers. Let’s explore the breakdown below:
- Traders operate on a demo account, simulating real trading conditions.
- Profit target: 10% of the account size.
- There are no specific time limits for reaching the profit target, allowing traders to trade at their own pace.
- Minimum trading days: 5 days.
- Maximum drawdown limit: 5% of the account size.
- Successful completion of phase one is required to progress.
- Traders continue trading on a demo account, refining their skills and strategies.
- Profit target: 8% of the account size.
- There are no predefined time limits for achieving the profit target, providing traders with flexibility.
- Traders must also meet the consistency rule, limiting the total profits generated on their best trading day.
- Successful completion of phase two leads to becoming a funded trader.
Funded Trader Benefits:
- Transition to trading on a live account.
- No minimum trading days.
- Access a full Straight-Through Processing (STP) broker for efficient trade execution.
- Profit share: 80/20 in favor of the funded trader.
- Opportunities for higher earnings and rewards as a funded trader.
FunderPro is different from most of the industry-leading prop firms due to never regulating your trading style. You can trade during news, hold trades overnight, and during the weekends.
Compared to other prop firms, FunderPro evaluation program is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 10% in phase one and 8% in phase two, with a 5% maximum daily and 10% maximum loss rules. You are also required to trade for a minimum of 5 days in each phase before becoming funded. Evaluation programs also have a scaling plan. Compared to other industry-leading prop firms, they have no maximum time limitations on both evaluation phases and above-average profit targets.
In conclusion, FunderPro is different from most of the industry-leading prop firms due to their relaxed trading rules. You can trade during news, hold trades overnight, and during the weekends. They also have no time limitations on both evaluation phases. However, when it comes to profit targets in the evaluation phases, they are above the industry average.
It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.
Receiving capital from the evaluation program accounts is realistic mostly since they have above average but not inaccessible profit targets (10% in phase one and 5% in phase two) with average maximum loss rules (5% maximum daily and 10% maximum loss). In addition, there are also no maximum trading period limitations in both evaluation phases. After considering all of that, FunderPro is an excellent choice to get funded since evaluation program accounts that you can choose from all have realistic trading objectives to follow and conditions to receive payouts.
FunderPro was incorporated in February 2023. After getting funded, your first payout will be available in 7 calendar days if you are in profit. After that, traders are eligible for payouts on a weekly basis.
When it comes to examples of payment proof, you can check the following video where the CEO of FunderPro, Gary Mullen, interviewed their first funded trader.
Or you can check the payout certificate below:
FunderPro doesn’t trade with common broker brands. They are partnered with a tier-1 liquidity provider that supplies the institutional data feed with the direct market access execution model on their live corporate accounts. As for the trading platform, they allow you to trade on Meta Trader 4.
FunderPro presents many tradable assets, including forex and cryptocurrencies, stocks, indices, metals, and energies. With a strong emphasis on providing a secure and reliable trading environment, they have adjusted leverage levels for select instruments, allowing traders to hold positions overnight and over the weekend. Notably, they offer one of the most competitive leverage levels among prop firms.
Regarding forex and cryptocurrencies, traders can enjoy maximum leverage of 1:100. For metals, indices, and energies, the leverage ratio extends to 1:200, providing greater flexibility. Stocks, on the other hand, have a maximum leverage of 1:20. These varying leverage levels enable traders to manage risk effectively while trading a diverse range of assets on FunderPro.
FunderPro does not provide any educational content on its website.
On the other hand, FunderPro does provide traders with a well-structured dashboard, making it easier to manage risk with all the live statistics of their trading objectives.
FunderPro has a FAQ section at the bottom of its homepage. There you will be able to find the information that you might have been missing.
In addition, they also have a live chat support team that is available 24/7 in order to help traders with any queries or issues they may face. The team consists of experienced trade professionals who are always willing to answer questions and provide helpful insights. The in-app support feature allows traders to contact the customer support team directly from their trader’s portal. You can also contact them by email: firstname.lastname@example.org. Additionally, the customer support team is multilingual, ensuring traders from different countries can get their queries answered in their native language. The customer support team at FunderPro always strives to provide the best possible customer service, helping traders make the most out of their trading experience.
In conclusion, FunderPro is a legitimate proprietary trading firm that offers traders a chance to choose between different evaluation program account sizes.
Evaluation programs are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. FunderPro requires traders to reach profit targets of 10% in phase one and 8% in phase two before becoming funded which are realistic trading objectives considering you have a 5% maximum daily and 10% maximum loss rules to follow. With evaluation programs, you can earn 80% profit splits while also being able to scale your accounts.
We would recommend FunderPro to anyone who is looking for a prop firm with relaxed trading rules. While they are still a relatively new firm, they offer excellent conditions for a big pool of individuals with unique trading styles. After considering everything FunderPro has to offer, they are for sure one of the more potential proprietary trading firms in the industry.