Founded by Angelo Ciaramello in 2021, The Funded Trader is a renowned and a rapidly growing trading firm that aims to ‘gamify prop trading’, making them the first company in the world to do this. With seed investments of up to $1,500,000, investors from all over the world are given funding whilst being offered profit shares as high as 90%. They work with a number of brokers including Purple Trading Seychelles and Nash Markets.
The Funded Trader Program offers four varying account sizes in addition to a 2-Phase evaluation process to traders. It includes two challenges, Standard and Rapid, with a verification process, that you must pass prior to proceeding. This is common practice amongst prop firms. These challenges come with a one time fee that is non-refundable if they are failed.
The initial part of the evaluation process is the Standard Challenge Phase 1 where the profit target is 10% of the total over a 35-day period. If the trader successfully passes this phase, they would be permitted to go to Phase 2, the verification stage, with a profit share of 2-5% over the duration of 60 days. During this phase, efficient and stable trading strategies must be demonstrated. Successful completion of this phase will be confirmed and promoted to the Rapid challenge. (ROMAIN PLEASE CHECK – NOT SURE IF WHAT IM WRITING IS CORRECT)
The Rapid challenge permits access to funding relatively quickly by eliminating minimum trading days, meaning given the background and expertise, the trader can complete the challenge and receive funding almost immediately. Profit margins for Phase 1 of the Rapid challenge is 8% over a 35-day trading period, and for Phase 2 is 5% over the course of 60 days
The fees for their standard challenge are:
$315 for a $50,000 account balance
$549 for a $100,000 account balance
$899 for a $200,000 account balance
$1,789 for a $400,000 account balance
The fees for their rapid challenge:
$299 for a $50,000 account balance
$499 for a $100,000 account balance.
$899 for a $200,000 account balance
In order to receive profit shared of up to 90% and biweekly rewards, the trader must demonstrate consistency and competent risk management. Evaluations are conducted every 3 months, and if the trader shows consistency and stability, they can apply for the Scaling Plan.
Investors can then become eligible for a 25% boost with an average return of 6% in three months, or a 2% return monthly for three months.
You may trade Forex pairs with 100:1 leverage, commodities with 40:1 leverage, indices with 20:1 leverage, and cryptocurrencies with 2:1 leverage with The Funded Trader Program.
The first part of the evaluation process is The Funded Trader Standard Challenge Phase 1. If the trader succeeds in this phase, then the trader will obtain their Phase 2 account and continue their evaluation once they have completed the trading objectives and demonstrated their expertise.
The Funded Trader Challenge Phase 2 is the verification stage, during which the trader continues to execute their trading strategy and demonstrate their talents in a more relaxed way, with a profit objective half of what it was required in Phase 1. After passing Phase 2, their results will be confirmed, and the trader will be promoted to a Funded Trader.
In the evaluation process for the standard challenge, there are two phases: Phase 1 and Phase 2. The primary distinction between the two phases is that the profit target for Phase 1 is 10 % of the total over a period of 35 days. In comparison, the targeted profit margin for Phase 2 is 5% over a period of 60 days. The minimum number of trading days imposed for any phase is 5 days, and the leverages available for either stage can range anywhere from 2:1 to 200:1. The profit share can be anything from 80% to 90%, with a maximum loss of 6% daily and a maximum loss of 12% overall.
The rapid challenge is a bit different. The profit objective for Phase 1 is 8% with a 35-day trading period, while the profit target for Phase 2 is 5% with a 60-day trading period. There is no minimum trading day restriction, and you can trade with a leverage of 1:100 during both stages. The profit share ranges from 80 percent to 90 percent, with a maximum daily loss of 5% and an overall loss of 8%.
Given their lenient guidelines, trading is permitted on the platform during news events, overnights, and weekends.
What is not permitted is hedging across multiple account or copy trading.
Another matter to note is that accounts would be terminated if passwords associated with any of your accounts are changed as this would signal a red flag.
The Funded Trader has an active Discord platform that has over 60,000 members. Here traders can connect whilst sharing trading strategies and ideas. Angelo Ciaramello, the CEO is active on this platform, responding to questions and announcing new updates.
The Funded Trader is unique because it barely regulates your trading approach and compared to their competitors, it has relatively modest minimum trading day criteria as previously mentioned; the trader can make trades during news events, overnight, and on the weekends.
The aforementioned Standard and Rapid Challenges requires the individual to trade for a minimum of 3 days in each phase and must then proceed to pass the two-phase evaluation programme before being eligible for funding:
- Phase 1 – 10% maximum profit / 6% maximum loss
- Phase 2 – 5% maximum profit / 12% maximum loss
Overall, The Funded Trader is one of the best trading platforms and has received a substantial number of positive reviews. Depending on the traders background and experience, they enable easy access to funding on excellent terms. They are undoubtedly one of the top prop organisations in the market after considering what they have to offer.