Funded Academy vs Ment Funding

Overview of Funded Academy

Funded Academy emerges as a robust platform for retail traders, providing an enticing opportunity to manage real accounts with a considerable capital ceiling of $1,000,000. The firm's confidence in its traders is reflected in its generous profit shares ranging from 70% to 90%, coupled with bi-weekly payouts that ensure traders are rewarded consistently. Leverage is set at a moderate 1:100 for Standard challenge accounts, which strikes a balance between risk and potential returns. A standout feature of Funded Academy is the permission granted for overnight positions and news trading, enhancing the trader's ability to capitalize on market events. Additionally, Extended challenge accounts receive exclusive perks, increasing the appeal of the firm to seasoned traders.

Exploring Ment Funding

Ment Funding notably extends a remarkably high funding opportunity of up to $2,000,000 for live funded accounts. Its solid reputation is backed by a 4.6/5 Trustpilot rating, establishing trust and reliability for potential users. One of Ment Funding's strengths is its one-step evaluation process, which is broadened by offering a diverse set of trading instruments. The firm takes pride in its unrestricted trading style, devoid of day limits, which empowers traders to execute their strategies without constraints. The support for EAs, copy traders, scripts, and indicators, along with hedging and news trading allowance, makes Ment Funding a comprehensive choice for a variety of trading approaches.

Points of Concern with Funded Academy

While Funded Academy offers many advantages, there are areas where the firm could improve. For instance, the cons for this firm were not provided in the context, but traders might seek clarity on aspects such as drawdown limits and weekend holding policies. Further inquiry into the firm's specific limitations and general trading conditions would be beneficial for interested parties.

Ment Funding's Challenges

Despite the larger funding potential, Ment Funding imposes a rather conservative maximum trailing drawdown limit of 5%, which can be restrictive for aggressive trading strategies. Additionally, the prohibition of weekend positions may be a significant drawback for traders who pursue strategies involving holding trades over the weekend to capture gaps or long-term trends. The lower leverage ranging from 1:2 to 1:20 could also be seen as a limitation, especially for those traders who rely on higher leverage to amplify their positions.

Deposits and Withdrawals

Funded Academy supports a range of deposit methods, including the innovative use of cryptocurrency, alongside traditional methods such as credit/debit cards, and Perfect Money. However, it is noteworthy that withdrawals can only be done through crypto, which may limit traders who prefer more mainstream withdrawal options. In contrast, Ment Funding provides a singular deposit option through credit/debit cards but facilitates withdrawals via the universal avenue of bank wire transfers, offering users a straightforward banking solution.

Account Selection and Financial Instruments

Both Funded Academy and Ment Funding present multiple account sizes, tailored to accommodate various levels of trader experience and capital commitment. However, Funded Academy offers a wider range in terms of account sizes, from as low as $10,000 to as high as $1,000,000, providing an expansive array of choices. When it comes to tradeable instruments, both firms offer a comprehensive suite incorporating cryptocurrencies, forex, indices, metals, and stocks. However, traders with a specific interest in commodities may prefer Ment Funding, which includes these in its offerings.

Consideration of Track Records

Taking into account the incorporation dates, Ment Funding has a slightly longer track record since its establishment in October 2020, compared to Funded Academy, which was incorporated in July 2021. While the difference is modest, the longevity of a firm can often contribute to the confidence and trust of potential clients.

Conclusion

Both Funded Academy and Ment Funding have carved their niches within the proprietary trading space, each with distinct advantages and limitations. While Funded Academy boasts higher leverage and allows for flexible trading strategies, Ment Funding offers larger account funding and has garnered significant trust from a customer satisfaction standpoint. Retail traders must weigh these factors, along with deposit and withdrawal methods, account sizes, and tradeable instruments, to discern which firm aligns best with their trading approach and risk tolerance. As with any financial decision, due diligence and a clear understanding of the prop firm's rules and offerings are paramount.