Funded Academy Review

Funded Academy is on a mission to revolutionize the online prop funding sector. Their goal is to infuse more competition into the landscape, ensuring traders receive optimal funding opportunities.

Funded Academy's ethos is to nurture winning traders. Their paramount expectation from clients is discipline, a sound risk management approach, and a focus on enduring success. This enables traders to rake in substantial profits, managing accounts as grand as $1,000,000, and enjoying lucrative profit splits of up to 70%. Such feats are attainable by trading in forex pairs, metals, indices, and cryptocurrencies.

Getting to Know Funded Academy

Established on July 29th, 2021, Funded Academy is a proprietary trading firm rooted in New South Wales, Australia. They extend a capital offer up to $1,000,000 paired with enticing profit splits reaching 90%. The Extended challenge accounts are brokered through a partnership with Eightcap, while IronFX takes charge of the Standard challenge accounts.

Their operational hub is situated at:68 TOROKINA AVENUE St Ives New South Wales 2075 Australia.

A snapshot of Funded Academy's company registration certificate is available below:

Diverse Funding Routes

Funded Academy presents two distinct funding pathways for traders:

• Standard challenge accounts
• Extended challenge accounts

Standard Challenge Accounts - An Overview

Funded Academy's standard challenge account is designed to cater to skilled and disciplined traders. Its primary draw is a two-phase assessment, wherein traders, benefitting from a 1:100 leverage, are rewarded for consistent performances.

Phase One: Involves hitting an 8% profit mark without violating the 5% daily loss or the 10% total loss stipulations. This has to be achieved within 30 days from the inception of the first trade. Moreover, a minimum of 4 trading days is essential to graduate to phase two.

Phase Two: Here, a 4% profit benchmark is set, with the same loss restrictions in place. Traders have a 60-day window from the time of the initial trade to meet these targets, along with the 4-day trading mandate, to be deemed eligible for a funded account.

On successful completion of both phases, traders are transitioned to a funded account, devoid of any profit constraints. The only mandates are the 5% daily and 10% total loss guidelines. The maiden payout, constituting 80% of the profits and an additional 20% from the second evaluation phase, is processed 14 days post the initiation of the funded account. Subsequent payouts are scheduled bi-weekly, with profit shares escalating to 85% post the first scaling and 90% after the second. Importantly, with each successful payout, the maximum loss threshold inflates by 1%, capping at 15%.

Scaling Plan for Standard Challenge Accounts

For scaling, a profit milestone of 10% needs to be attained within four months, with at least two profitable months. This guarantees a 25% augmentation of the original balance.

Illustration:

• Post 4 months: $100,000 scales to $125,000.
• Subsequent 4 months: $125,000 grows to $150,000.
• Next 4 months: $150,000 surges to $175,000.

This progression continues. Tradable instruments encompass forex pairs, metals, indices, and cryptocurrencies.

Regulations for Standard Challenge Accounts

• Profit Targets: Phase 1 – 8%, Phase 2 – 4%. Funded accounts are exempted.
• Daily Loss Cap: 5% for all account sizes.
• Total Loss Ceiling: 10% across all account sizes.
• Minimum Trading Days: 4 days for both phases.
• Maximum Trading Duration: 30 days for Phase 1, 60 days for Phase 2.
• Risks associated with third-party copy trading and EA services: Traders need to be cautious when employing third-party tools, as there may be many using the same strategy. This might lead to violations of the capital allocation rule, resulting in denied funding or withdrawal.

Extended Challenge accounts

The Funded Academy's extended challenge account is designed to pinpoint dedicated traders and offer them the chance to amplify their trading earnings. Such traders are recognized for their unwavering performance during the one-phase evaluation. Trading with the extended challenge account provides you with a leverage of up to 1:10.

The evaluation entails a trader achieving a 10% profit target without exceeding either a 4% maximum daily loss or a 5% maximum trailing drawdown. No specific trading day limitations are set for the evaluation account; meeting the profit target is the sole criteria for funding.

Upon successfully navigating the evaluation, a trader is granted a funded account with no set profit objectives. Adhering to the 4% maximum daily loss and 5% maximum trailing drawdown is the sole requirement. After a 30-day calendar span, you can claim your initial 70% profit split, with subsequent payouts being issued monthly.

Extended challenge account provisions

There isn't a scaling plan associated with extended challenge accounts.

Traders using the extended challenge accounts have access to forex pairs, metals, indices, stocks, and cryptocurrencies.

Extended challenge account guidelines:

• Profit target: This is a predetermined profit percentage a trader must achieve to either finish an evaluation, extract profits, or scale their account. The evaluation stage has a set target of 10%. No targets are established for funded accounts.
• Maximum daily loss: A trader is capped at a daily loss, beyond which the account would be breached. All account tiers have a 4% daily loss limit.
• Maximum trailing drawdown: This represents the gap between the pinnacle of account balance attained and the maximum allowable drawdown. Every account category has a 5% trailing drawdown restriction.
• Stop-loss requirement: Every position must have a stop-loss set before initiating a trade.
• Lot size constraint: Traders are to adhere to particular lot sizes for diverse trading tools, typically aligned with the prop firm account's opening balance. The uppermost limit for open lots across all currency pairs is 1 lot per $10,000 in funds.
• No weekend holds: Open trades cannot be sustained over weekends.
• Third-party copy trading & EA risks: Relying on third-party copy trading or EA (Expert Advisor) tools carries the risk of overlapping strategies with other traders. Engaging with such services may jeopardize the chances of obtaining a funded account or processing withdrawals if the maximum capital allotment is surpassed.

Extended challenge account add-ons:

• Trading over weekends: Opting for this feature results in a 10% price augmentation upon buying your evaluation account.
• Double the leverage: There's a 25% price surge when opting for this feature during your account purchase.
• No stop-loss mandate: Choosing this feature leads to a 10% price hike during your evaluation account purchase.

What sets Funded Academy apart from other prop firms?

Funded Academy stands out among top-tier prop firms, largely due to their dual funding offerings: the standard challenge and extended challenge accounts. Notably, they grant traders significant flexibility in their trading approach. Whether it's trading during news cycles, maintaining trades overnight, or even over weekends (Extended accounts permit this with an additional feature), Funded Academy has got you covered.

Distinctively, the Funded Academy standard challenge unfolds in two phases. Traders must navigate both before qualifying for remunerations. In the initial phase, the profit target is pegged at 8%, while the subsequent phase demands a 4% profit goal. Meanwhile, there's a 5% daily maximum and an overarching 10% maximum loss stipulation. Moreover, a requisite of 4 trading days in both phases precedes any potential funding. The standard challenge accounts are further distinguished by a unique scaling strategy. When benchmarked against other prop giants, they boast appealingly low profit thresholds and reasonable drawdown constraints.

Comparison Breakdown: Funded Academy vs. E8 Funding

Comparison Breakdown: Funded Academy vs. Finotive Funding

Comparison Breakdown: Funded Academy vs. FundedNext

In a distinct offering, the Funded Academy's extended challenge comprises a single-phase assessment. Traders are mandated to hit a profit mark to be considered for payouts. This mark is set at 10%, with additional conditions like a 4% daily loss ceiling, 5% trailing drawdown cap, obligatory stop-loss, and specific lot size restrictions. Furthermore, there's freedom regarding trading days - no minimum or maximum duration is prescribed.

Summing up, Funded Academy diverges from its peers by providing two diversified funding pathways, supplemented by transparent and relatively unrestricted trading norms. Whether you're keen on news-based trades, wish to hold positions overnight, or even over weekends (Extended accounts only, with an add-on), Funded Academy facilitates it all.

Is securing funding from Funded Academy a viable option?

When scouting for the optimal prop firm, it's pivotal to gauge the practicality of their trading prerequisites. While a lucrative profit split in a well-funded account seems attractive, exorbitant monthly profit expectations combined with stringent drawdown limits might render your odds of success almost null.

With the standard challenge accounts, Funded Academy offers attainable goals, given their moderate profit objectives (8% in the first phase, 4% in the second) juxtaposed with balanced loss rules (5% daily maximum and 10% overall cap).

Similarly, their extended challenge accounts, with a 10% profit benchmark alongside standard loss parameters (4% daily and 5% trailing drawdown limits), present achievable targets.

Assessing the above, it's evident that Funded Academy emerges as a promising destination for traders aiming for funding. They present a duo of funding avenues, each with pragmatic trading goals and payout conditions.

Payment Verification

Incorporated on July 29, 2021, Funded Academy provides bi-weekly disbursements for those using standard challenge accounts and monthly distributions for extended challenge account holders.

Evidence of payments from Funded Academy is predominantly accessible via their Discord channel. Here are a few sample payment proofs:

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Brokerage Partnerships of Funded Academy

For its standard challenge accounts, Funded Academy collaborates with IronFX, while for extended challenge accounts, Eightcap is their broker of choice.

Founded in 2010, IronFX is a recognized broker serving both retail and institutional clientele across continents including Europe, Asia, the Middle East, Africa, and Latin America.

Eightcap, headquartered in Melbourne, Australia, and regulated by ASIC, came into existence in 2009. Their primary focus has always been to deliver exemplary financial services to their patrons.

Trading platform options provided include:

• MetaTrader 4
• MetaTrader 5

Trading instruments

Funded Academy lets users trade with forex pairs, metals, indices, and cryptocurrencies when using standard challenge accounts. But, when using extended challenge accounts, users are able to trade using stocks too.

Trading fees

Trading commission:

Spread:

To see the live spreads, use these login credentials to gain access to the trading account below:

Platform: MetaTrader

Server: EightcapLtd-Demo2

Login Number: 20180408

Password: SXhfhCnh

Download Platform: Click here

Educational Outreach & Assistance

No educational content is featured on the Funded Academy site.

While they don't have a dedicated thread on ForexFactory, Funded Academy is frequently mentioned in the “PROP FIRM HUB” thread, a creation of a user named Masterrmind.

Click here to view the aforementioned thread.

Trader Feedback on Funded Academy

Funded Academy boasts a stellar reputation based on reviews.

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On Trustpilot, they have garnered a commendable 3.8/4 from 27 reviews, with numerous users heaping praise and positive remarks.

Their support team is particularly applauded for being swift and efficient.

One noteworthy observation indicates that despite Funded Academy being a nascent prop firm, they display potential to rank among the industry's best.

Digital Footprint

Funded Academy's social media presence is slightly restrained, as they operate on selected platforms.

They have a Telegram community of 121 participants and a Discord channel with 987 members.

Help Center

For inquiries, you can peruse Funded Academy's FAQ section.

The support staff is accessible via their social media channels, or you can drop them an email at Hello@funded.academy.

Alternatively, you can send them a direct message through their website. Click here to do so.

Final Thoughts

Funded Academy, a bona fide proprietary firm, empowers traders with two distinctive funding pathways: standard challenge and extended challenge accounts.

The standard challenge is a dual-phase assessment necessitating the fulfillment of both stages before attaining funding and qualifying for profit sharing. Here, traders are set profit milestones of 8% and 4% in the respective phases, which are pragmatic objectives given the stipulated loss ceilings of 5% daily and 10% overall. Account holders can garner between 80% to 90% in profit shares, complemented with account scaling options.

Conversely, the extended challenge is a solo-phase assessment. Traders aim for a 10% profit landmark, complemented with a daily 4% loss and 5% trailing drawdown constraints. These accounts yield a 70% profit share but lack a scaling provision.

Funded Academy is great for those seeking a prop firm that offers lucid trading guidelines and boasts account capacities up to $1,000,000. Though they might not be the industry's crown jewel, they extend favorable conditions appealing to a broad audience. Weighing everything that Funded Academy extends, they undoubtedly present themselves as a compelling option for forex traders aspiring to engage with account volumes up to $1,000,000.

Review Update: This analysis of Funded Academy was last refreshed on 25.05.2023 at 09:03 (CE(S)T).

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