The Funded Trader shares the same founding team as The Forex League and VVS Academy, establishing this prop firm to equip their community with precisely the solutions needed.
The Funded Trader aims to identify devoted and seasoned traders, assisting them in flourishing under volatile market scenarios. They empower them to garner substantial profits by managing accounts as large as $1,500,000 and enjoying profit splits as high as 90%. Such achievements are accessible through trading in forex pairs, commodities, indices, and cryptocurrencies.
Who is The Funded Trader?
Incorporated on May 12, 2021, The Funded Trader is a proprietary trading company with U.S. based operations. They extend opportunities for traders to work with a capital balance of up to $1,500,000 and profit splits reaching 90%. Partnerships have been formed with Eightcap and Purple Trading Seychelles as brokers.
Their main office resides at 14001 W HWY 29, Suite 102, Liberty Hill, TX 78642.
CEO of The Funded Trader?
The creator of The Funded Trader, 24-year-old entrepreneur Angelo Ciaramello from New Jersey, initiated the company in 2020. Initially, it was a startup that brought a game-like experience to retail capital market trading. Its mission was to open doors for solo traders, competing for funding and top ranking positions.
Under Angelo's guidance, various funding challenges were crafted, giving individuals the ability to trade with the company's capital and partake in profit splits. A notable accomplishment was his recognition as one of the top 25 Financial Technology Leaders in New Jersey for 2022.
To follow Angelo Ciaramello's updates and daily activities, you can track his Instagram and LinkedIn.
Available Funding Program Options
The Funded Trader has outlined four distinct trading programs for traders:
1. Standard challenge accounts
- Standard regular challenge accounts
- Standard swing challenge accounts
2. Rapid challenge accounts
- Rapid regular challenge accounts
- Rapid swing challenge accounts
3. Royal challenge accounts
4. Knight challenge accounts
Standard Challenge Accounts
The goal of The Funded Trader standard challenge account is to recognize dedicated and skilled traders, rewarding them for consistent performance across a two-stage evaluation process. Regular accounts in the evaluation period enable 1:200 leverage, shifting to 1:100 when funded. Conversely, swing evaluation accounts offer 1:60 leverage, adjusting to 1:30 once funded. A unique aspect is that swing accounts allow trade holdings over weekends, while regular accounts mandate trade closures.
During the first evaluation phase, traders must attain a 10% profit target, abiding by a 5% daily loss maximum and 10% overall loss restriction. It's vital to understand that there's no maximum trading day stipulation during this phase. However, at least three trading days must be completed to progress to the second phase.
The requirements for phase two include a 5% profit target and adherence to the same 5% maximum daily loss and 10% total loss rules as phase one. Again, there are no maximum trading day constraints, but a minimum of three trading days must be accomplished to achieve funded account status.
Upon successfully finishing both evaluation stages, you receive a funded account with no specific profit targets. Your obligations include observing a 5% daily loss cap, 10% total loss limit, and adhering to lot size regulations. Your initial profit payout comes 21 calendar days from your first trade placement on the funded account. Subsequent payouts are based on a bi-weekly schedule, with profit splits ranging from 80% to 90%, determined by your account's profits.
Standard Challenge Accounts Add-on Options:
- Additional Drawdown
- EA's Enabled
Standard Challenge Account Scaling Plan
A scaling plan is also part of the standard challenge accounts, requiring a 6% or more profit target within a quarter, with profitability in two of those three months. This results in a 25% increase of the original account balance.
Example:
- 3 months with a $200,000 account: Balance increases to $250,000
- Next 3 months: Balance increases from $250,000 to $300,000
- Next 3 months: Balance increases from $300,000 to $350,000
etc...
Standard challenge account trades include forex pairs, commodities, indices, and cryptocurrencies.
Standard Challenge Account Rules:
- Profit Target: Specific percentage to reach before completing an evaluation phase or withdrawing profits. Phase 1 has 10%, phase 2 has 5%. Funded accounts have no targets.
- Maximum Daily Loss: A daily loss cap of 5% across all account sizes.
- Maximum Loss: Total loss cap of 10% across all accounts.
- Minimum Trading Days: Three-day minimum for both phases. No minimum for funded accounts before eligible payouts.
- Lot Size Limit: Prop firm account requirements typically set based on initial balance.
- No Martingale Allowed: This trading strategy is prohibited.
- Third-party Copy Trading Risk: Possible risk of denial if exceeding capital allocation rule.
- No EAs Allowed: Expert advisors are only allowed for copying purposes.
Rapid Challenge Accounts
The Funded Trader rapid challenge account is structured to pinpoint proficient and earnest traders, who earn rewards for stable results throughout a two-stage evaluation. Regular accounts permit trading with 1:100 leverage, while swing accounts allow 1:30 leverage. Swing accounts may carry trades over weekends, in contrast to regular accounts where trades must be closed.
Evaluation Phase One necessitates an 8% profit target, without exceeding 5% daily loss or 8% total loss. This must be reached within 35 calendar days from the first position, with no minimum trading day requirements to advance to phase two.
Evaluation Phase Two requires a 5% profit target, adhering to the same loss limits as phase one, within 60 calendar days. No minimum trading days are required to attain a funded account.
Successful completion of both phases grants a funded account, devoid of profit targets. Adherence to 5% daily loss, 8% total loss, and lot size constraints is mandatory. The first payout occurs 14 calendar days after the first position on the funded account, with subsequent payouts bi-weekly. The payout schedule with profit split is outlined below:
Payout Number and Profit Split
After the 4th payout, the profit split remains at 80%.
Rapid Challenge Account Scaling Plan
A scaling plan is in place, demanding a profit target of 10% or more within one profit split period. A 10% increase in account balance is awarded for each withdrawal exceeding 10% of the initial balance.
Example
Trading instruments encompass forex pairs, commodities, indices, and cryptocurrencies.
Rapid Challenge Account Rules:
- Profit Target: 8% in Phase 1, 5% in Phase 2, none for funded accounts.
- Maximum Daily Loss: 5% across all account sizes.
- Maximum Loss: 8% overall for all account sizes.
- Maximum Trading Days: 35 days for Phase 1, 60 days for Phase 2.
- Lot Size Limit: Typically set by the initial balance.
- No Martingale Allowed: Such a strategy is not permitted.
- No Weekend Holding: Open positions cannot be held during weekends.
- Third-Party Copy Trading Risk: Uniform trading strategies might risk denial of funded account/withdrawal.
- No EAs Allowed: Only copying purposes expert advisors are allowed.
Royal Challenge Accounts
The Funded Trader royal challenge account is designed to detect skilled and committed traders, rewarding them for steady performance during a two-stage evaluation. The program enables trading at 1:200 leverage.
Evaluation Phase One necessitates achieving an 8% profit target without exceeding 5% daily loss or 10% total loss. Accomplishing this within 35 calendar days from your first position is required, as well as trading on at least five days to advance to phase two.
Evaluation Phase Two requires a 5% profit target, maintaining the same loss limits as phase one, all within 60 calendar days. A minimum of five trading days must also be met to qualify for a funded account.
By passing both evaluations, you gain a funded account, free of profit targets but subject to 5% daily loss, 10% total loss, and lot size restrictions. The first payout comes 30 calendar days from the funded account's first position, with subsequent payouts on a bi-weekly schedule. Profit splits range from 80% to 90% depending on the funded account's profit.
Royal Challenge Account Scaling Plan
Scaling exists in royal challenge accounts, requiring a 6% or more profit target within three months, with two profitable months. This results in a 25% increase of the original account balance.
Example of Scaling
- After 3 months: A $200,000 account grows to $250,000.
- After next 3 months: $250,000 rises to $300,000.
- After next 3 months: $300,000 expands to $350,000.
And so on…
Trading instruments include forex pairs, commodities, indices, and cryptocurrencies.
Royal Challenge Account Rules
- Profit Target: Phase 1 has an 8% target; Phase 2, a 5% target; funded accounts, none.
- Maximum Daily Loss: All account sizes have a 5% daily loss limit.
- Maximum Loss: Overall loss limit of 10% for all account sizes.
- Minimum Trading Days: Five-day minimum for both phases; funded accounts have no such requirement.
- Maximum Trading Days: Phase 1, 35 days; Phase 2, 60 days.
- No Martingale Allowed: This strategy is prohibited.
- Third-Party Copy Trading Risk: Same-strategy risks may lead to denial of funded account/withdrawal if you exceed the maximum capital allocation.
Knight Challenge Accounts
The Funded Trader knight challenge account aims to identify serious and talented traders who are rewarded for their consistency in the one-phase evaluation period. The evaluation program account allows you to trade with 1:30 leverage.
The evaluation phase requires a trader to reach a profit target of 10% while not surpassing their 3% maximum daily loss or 6% maximum trailing loss rules. Your evaluation account has no minimum or maximum trading day requirements. The only requirement to become funded is hitting the profit target.
By completing the evaluation phase, you are awarded a funded account where you have no profit targets. You are only required to respect the 3% maximum daily loss and 6% maximum trailing loss rules. Your first payout is seven calendar days from the day you place your first position on your funded account. Note that whenever you receive your first payout, all of your next payouts will be also based on a weekly basis. Your profit split will be 80% up to 90% based on the profit you make on your funded account.
Knight Challenge Account Scaling Plan
Knight challenge accounts also have a scaling plan. You are required to reach a profit target of 6% or more within a three-month period where two out of the three months were profitable. You will receive an account increase of 25% of the original account balance. In addition, once they scale their account for the first time, the profit split will increase from 80% to 90%, and the daily drawdown will increase from 3% to 4%.
Example:
- After 3 months: If you have a $200,000 account, your account balance will increase to $250,000.
- After next 3 months: Balance of $250,000 increases to $300,000.
- After next 3 months: Balance of $300,000 increases to $350,000.
And so on…
Trading instruments for the knight challenge accounts are forex pairs, commodities, indices, and cryptocurrencies.
Knight Challenge Account Rules
- Profit Target: 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. The evaluation phase has a profit target of 10%. Funded accounts have no profit targets.
- Maximum Daily Loss: 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 3%. The maximum daily loss becomes 4% once you scale your account for the first time.
- Maximum Trailing Drawdown: The maximum drawdown that is equal to the distance between the highest account balance achieved and the maximum drawdown. All account sizes have a maximum trailing drawdown of 6%.
- No Martingale Allowed: Traders are not allowed to use any type of martingale strategy while trading.
- Third-Party Copy Trading Risk: If you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
- Third-Party EA Risk: If you intend to use an EA, you should keep in mind that by using a third-party EA, there might be other traders that are already using it and therefore using exactly the same trading strategy. By using a third-party EA, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
What Makes The Funded Trader Different from Other Prop Firms?
The Funded Trader is different from most of the industry-leading prop firms due to almost never regulating your trading style. You can trade during news, hold trades overnight, and during the weekends.
Compared to Other Prop Firms:
The Funded Trader distinguishes itself from the majority of leading proprietary trading firms by providing considerable flexibility in trading styles, allowing activities like trading during news events, holding positions overnight, and even trading over the weekend.
In contrast to other proprietary firms, The Funded Trader's standard challenge consists of a two-phase evaluation, necessitating traders to pass through both stages to qualify for payouts. With profit goals of 10% in the initial phase and 5% in the latter, along with a 5% daily maximum loss, 10% total maximum loss, and restrictions on lot sizes, traders must also engage for at least 3 days in each phase to progress to funding. The program features an average profit target and a scaling plan, setting it apart with relatively modest minimum trading day requirements.
Comparison between The Funded Trader & Finotive Funding
Comparison between The Funded Trader & E8 Funding
Comparison between The Funded Trader & My Forex Funds
Similarly, The Funded Trader's rapid challenge program follows a two-step evaluation. This program demands 8% profit in phase one and 5% in phase two, accompanied by a 5% daily maximum loss, 8% overall maximum loss, and a specific lot size limitation. Traders are mandated to trade for a minimum of 5 days per phase to proceed to funding. Notably, this program also encompasses a scaling plan and stands out from its counterparts by offering comparatively lower profit targets and minimum trading day prerequisites.
Comparison between The Funded Trader & True Forex Funds
Comparison between The Funded Trader & FundedNext
Comparison between The Funded Trader & Funded Trading Plus
The royal challenge program at The Funded Trader is another two-phase assessment requiring completion for eligibility in payouts. The goals are set at 8% for the first phase and 5% for the second, with 5% as the daily maximum loss and 10% as the total maximum loss. A minimum of 5 trading days is obligatory in each phase, and the rapid challenge program includes a scaling plan. Like other Funded Trader programs, it's characterized by relatively modest profit targets and trading day requirements.
Comparison between The Funded Trader & FTMO
Lastly, The Funded Trader's unique one-step evaluation program is for those aiming to achieve a singular phase, with a 10% profit target, 3% daily maximum loss, and 6% trailing maximum loss. Unlike other programs, there are no specific trading day requirements, and the knight challenge accounts feature a scaling plan. Compared to other industry leaders, this program stands out with less stringent drawdown rules and no time constraints.
To sum up, The Funded Trader's distinctiveness lies in its four diverse funding programs, each designed to cater to various trading styles and preferences. Moreover, it emphasizes more relaxed trading rules, exemplified by the allowance to trade during news, keep positions overnight, and trade throughout the weekend. This multifaceted approach sets The Funded Trader apart from other industry-leading proprietary trading firms.
Is it worth acquiring capital through The Funded Trader?
Understanding the possibility of meeting trading requirements easier is vital when identifying prop firms that align with your forex trading approach. An attractive offer might include a substantial percentage of profit split on a generously funded account, but demanding high percentage gains monthly along with restrictive maximum drawdowns might render your likelihood of success nearly non-existent.
Obtaining capital through the standard challenge program is largely feasible, primarily because the profit targets are moderate (10% in the first phase and 5% in the second) and they include comparatively generous maximum loss allowances (5% daily maximum and 10% total maximum loss).
Securing capital through the rapid challenge program is generally realistic, given the relatively modest profit expectations (8% in the first phase and 5% in the second) combined with typical maximum loss parameters (5% daily maximum and 8% total maximum loss).
Accessing capital via the royal challenge program is mostly achievable, particularly because of the relatively humble profit goals (8% in the first phase and 5% in the second) along with standard maximum loss guidelines (5% daily maximum and 10% total maximum loss).
Receiving funding from the knight challenge program is quite plausible, primarily due to the reasonable profit objective of 10% paired with customary maximum loss regulations (3% daily maximum and 6% trailing maximum loss).
Upon evaluating these factors, The Funded Trader emerges as a favorable option for obtaining funding, offering four distinct funding programs, each with pragmatic trading goals and conditions for receiving payouts.
Evidence of Payments
Established on May 12th, 2021, The Funded Trader entitles traders to bi-weekly payouts without necessitating minimum profit targets.
Two YouTube videos showcase examples of payment evidence:
Additionally, their Discord channel contains further confirmation of payouts, available under the channel designated for payout proof:
Broker Partnerships of The Funded Trader
The Funded Trader collaborates with Eightcap, ThinkMarkets, and Purple Trading Seychelles as brokerage partners.
Eightcap, an ASIC-regulated broker based in Melbourne, Australia, was established in 2009 with a transparent mission to deliver outstanding financial services. With five global offices and multiple regulations, they facilitate trading across various markets, including FX, indices, commodities, and shares.
ThinkMarkets, a top-tier multi-asset online brokerage with bases in London and Melbourne, grants swift and effortless access to diverse markets. They offer renowned trading platforms like MetaTrader 4, MetaTrader 5, and their proprietary ThinkTrader platform.
Purple Trading Seychelles is committed to fair business practices, cutting-edge technologies, and positioning itself as equal partners with clients.
Regarding trading platforms, The Funded Trader permits trading on Meta Trader 4 and MetaTrader 5 with Eightcap or ThinkMarkets. Conversely, with Purple Trading Seychelles, only MetaTrader 4 is accessible.
Trading Tools and Leverage
The Funded Trader provides options to trade forex pairs at 100:1 leverage (200:1 during the evaluation), commodities at 40:1 leverage, indices at 20:1, and cryptocurrencies at a leverage of 2:1.
Trading fees
Trading commission:
Spread:
To see the live spreads, you can use these login details for the trading account below:
Platform: MetaTrader 4
Server: EightcapLtd-Demo2
Login Number: 20180408
Password: SXhfhCnh
Download Platform: Click here
Training & Assistance for Traders
The Funded Trader doesn't offer any educational resources on their website.
While lacking a dedicated thread on ForexFactory, The Funded Trader is frequently discussed in another thread titled "PROP FIRM HUB," initiated by a user known as Masterrmind.
To access the mentioned thread, click here.
They have designed a comprehensive dashboard accessible to all clients, simplifying risk management and providing clear information about trading statistics.
Here, below, is the FundedTrader Dashboard Statistics page, showing open positions:
Trader Opinions Regarding The Funded Trader
Reviews highlight The Funded Trader's excellence.
On Trustpilot, a broad spectrum of community members contributes positive feedback, culminating in an impressive rating of 4.7/5 based on 5,940 reviews. Their support team has been applauded for delivering all necessary information responsively.
The community praises them as a compassionate and responsive team, committed to client satisfaction.
An additional remark regarding The Funded Trader emphasizes their ingenuity in amalgamating the positive attributes of various prop firms.
Social Media Presence
The Funded Trader maintains an active social media presence.
They are on social media platforms such as:
Instagram with 25.5k followers,
Telegram with 8,527 subscribers,
YouTube with 13.6k subscribers and 248 videos.
Furthermore, their Discord channel, with 42,641 members, serves as a platform for announcements, support queries, and community discussions on trading strategies.
Customer Service
The Funded Trader features a FAQ page that could address unanswered questions.
Support is accessible through social media, or you can reach them directly via email at support@thefundedtraderprogram.com.
They also provide live chat support; send them a message, and you'll receive a response in your email.
Their Discord channel also includes dedicated sections where both support staff and the community can assist with support needs or technical problems.
Summary
To conclude, The Funded Trader stands as a credible proprietary trading firm, offering traders four distinct funding programs to choose from: Standard, Rapid, Royal, and Knight.
The Standard challenge, an industry-standard two-phase evaluation, necessitates completion of both phases, with profit targets of 10% in phase one and 5% in phase two, and realistic constraints such as 5% maximum daily and 10% maximum loss rules. Standard challenges allow up to 90% profit splits and account scaling.
Similarly, Rapid challenge programs follow the industry standard, with 8% and 5% targets in the two phases, 5% maximum daily, and 8% maximum loss rules. These programs also enable up to 90% profit splits and account scaling.
Royal challenge programs echo the structure, demanding 8% and 5% profit targets, and allowing up to 90% profit splits with the same loss rules as the Rapid challenges.
Finally, Knight challenge accounts, a one-step evaluation, require a 10% profit target, with realistic boundaries of 3% maximum daily and 6% maximum trailing loss. These programs allow 80% to 90% profit splits and account scaling.
The Funded Trader is recommendable to those seeking a prop firm with transparent trading rules. A well-founded firm, they cater to a diverse array of individual trading styles, providing optimal conditions. Reflecting on The Funded Trader's offerings, they undoubtedly rank among the industry's leading prop firms.
This review of The Funded Trader was last updated on 10.07.2023 at 12:27 (CE(S)T).
So, how do you feel about the structure of this Proprietary Trading firm? Does The Funded Trader offer the instruments you wish to trade?
Share your thoughts and let us know here at DayFunded!
