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What is the Funded Trader Program?
The Funded Trader is an online demo trading evaluation firm that gives potential clients the opportunity to prove their trading skills and keep a profit split by using one of their funded accounts.
Does the Funded Trader Program trade stocks?
No, The Funded Trader does not deal with the trading of stocks on the stock market or trading in the cryptocurrency market. The Funded Trader is a FOREX trading platform for trading pairs of currency in Funded Accounts.
How does the Funded Trader Program work?
The Funded Trader is a prop firm. In order to get approved for a Funded Trader account, traders must complete an assessment and prove their trading skills. At no risk to them and for the price of an upfront fee paid for the evaluation, eligible traders will receive a profit split on the profits generated in their funded account.
What is a FOREX Prop Firm?
For further clarity on what a prop firm is, it is an entity in which a trader is allocated a portion of the firm’s capital in order to have the trader employ their own market strategies and then the trader will receive a portion of any profits made using the capital.
How does the Funded Trader differ from traditional Prop Firms?
The Funded Trader differs from a traditional prop firm because normally, a prop firm is a brick and mortar establishment. The sign up fees for the Funded Trader Program are much less and virtually anyone in the world can sign up to be a Funded Trader. In order to be accepted for a live account, a Funded Trader must prove themselves on a demo account and that is where a trader proves whether they have a profitable strategy or not.
Is there a limit to how many Funded Accounts someone can trade with?
A Funded Trader can trade with as many accounts as they desire but the only rule is that the total account value of ALL accounts held by a person is capped at $600,000. The Funded Trader Program has different challenges and you are not permitted to trade more than $600k total during the challenge phase (Phase-1 and Phase-2), which is inclusive of the Rapid Challenge and Standard Challenge accounts — meaning, the combined amount you can trade is $600k across all accounts with TFT, including Rapid and Standard Challenge.
If you trade more than $600k at any given time, then you will only be refunded for accounts that have not yet been traded. If you have already traded the account, then you will not receive a refund and your account will be breached.
For example, you can have 2x $200k Standard Challenge accounts and 2x $100k Rapid Challenge accounts, which add up to $600k in total account value. However, you cannot then add any more accounts beyond these as the total account value would exceed our $600k total account value limit.
Are trading techniques such as scalping allowed?
Yes, The Funded Trader allows traders to trade in the method that is best suited for them, but they warn against scalping because scalping that is detected within 2 minutes before or after news is prohibited, thus results in a breach of the terms of services.
Does the Funded Trader Program have a FOREX community?
The Funded Trader program offers different educational resources on their blog and also has a Discord Server with over 10,000 members that many in the FOREX community find quite useful for trading and for reaching out. Also, they are more than happy to answer any questions that people have in regards to their service.
Are people actually making money with the Funded Trader Program?
Absolutely! One of the segments that The Funded Trader Program features on their blog is to highlight different people who are elevating their accounts and seeing real profits. On top of that, the Funded Trader Program offers monthly competitions and different challenges that many people are making money with.
What are the Funded Trader Challenges?
Here are the specs on the Funded Trader Rapid Challenge:
The Rapid Challenge is their newest two-step evaluation program in which you can get your first payout in as little as 20 days!
Traders are able to sign up for this challenge using a $50k, $100k, or $200k account.
Simply choose the amount of capital you would like to manage and pass the evaluation by meeting the Trading Objectives during Phase-1 and Phase-2 of the evaluation.
With the Rapid Challenge, there are no minimum trading days on your evaluation. Your first profit split is eligible after 14-days once you earn your funded account.
For more information on The Funded Trader, visit their website at TheFundedTraderProgram.com