- Real accounts with up to $1,000,000 in genuine capital.
- Bi-weekly payouts with profit shares of 70% to 90%.
- 1:100 leverage for Standard challenge accounts.
- Permitted overnight positions and news trading.
- Exclusive benefits for Extended challenge accounts.
The Funded Trader
- $600,000 standard balance, four funding options
- 1:200 leverage with 80-90% profit splits
- Stellar 4.7/5 Trustpilot from 5k reviews
- Unlimited free evaluation retries
- Scaling up to $1,500,000; overnight and news trading allowed
- Comprehensive trading tools including forex and cryptocurrencies.
Cons ❌
Funded Academy
- Lot size restrictions
- 1:10 leverage on Extended challenge accounts
- Monthly payouts on Extended challenge accounts
The Funded Trader
- No free trial (as of now)
- Customer support, while trustworthy, is slow
- Trailing drawdown (in Knight's challenge)
Rules 📋
Funded Academy
Lot Size Limit, Maximum Daily Loss, Maximum Loss, No Weekend Holding, Profit Target, Stop Loss Required, Third Party Copy Trading Risk, Third Party EA Risk
The Funded Trader
Lot Size Limit, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No EAs Allowed, No Martingale Allowed, Profit Target, Third Party Copy Trading Risk
Funded Academy emerges as a robust platform for retail traders looking to scale their trading without incurring the risks associated with personal capital. Offering real accounts with up to a stunning $1,000,000 in genuine capital provides a substantial ceiling for traders who have the prowess to manage large funds effectively. With a competitive profit share structure that allocates 70% to 90% to the trader, the motivation to succeed is significantly amplified. Additionally, the 1:100 leverage on Standard challenge accounts is a notable feature, striking a balance between opportunity and risk.
Traders at Funded Academy have the flexibility to hold positions overnight and engage in news trading, an often crucial aspect of modern trading strategies. Moreover, the firm takes a step further with Extended challenge accounts, unlocking exclusive benefits that cater to more seasoned traders seeking an even greater edge.
The Funded Trader Strengths
The Funded Trader stakes its claim in the competitive prop firm landscape with a well-rounded offering. A standard balance of $600,000 and up to four funding options sets a solid foundation for traders of various calibers. The leverage here is pushed to 1:200, accompanied by a hearty 80-90% profit split, underlining the firm’s trust in its clients’ capabilities.
Their exceptional reputation is amplified by a high Trustpilot score, a testament to the positive experiences shared by 5,000 reviewers. Furthermore, The Funded Trader's commitment to providing a fail-safe environment is evident through unlimited free evaluation retries, significantly reducing the pressure on traders striving for funding.
Scaling up to $1,500,000, similar to Funded Academy, The Funded Trader also permits overnight and news trading. Their edge is sharpened with a suite of comprehensive trading tools that encompasses forex and cryptocurrencies—presenting a holistic trading environment.
Considerations for Funded Academy
Despite missing specific details for its cons in the provided context, it’s important to be cautious. Prospective traders should closely evaluate any possible undisclosed limitations or restrictions that could impact their trading strategies. It's important to examine their rules, including the lot size limit, maximum daily loss, and other stipulated controls to ensure alignment with one's trading approach. The deposit and withdrawal options are slightly constrained, offering mainly crypto-oriented transactions for withdrawals.
Areas of Improvement for The Funded Trader
The absence of a free trial might deter some potential users who would otherwise be willing to test out the service with minimal risk. Despite being lauded for trustworthy customer support, the slow response times could be a significant drawback, especially in the fast-paced environment of trading where timely assistance can be critical. Furthermore, the trailing drawdown in certain challenges could prove restrictive for some trading styles.
Comparing Account Facilities
Funded Academy provides a wide variety of account sizes ranging from $10,000 to $1,000,000, which can be pivotal for diverse trading portfolios. On the other hand, the exact account sizes for The Funded Trader aren't specified, but with scaling up to $1,500,000, they too offer a progression path. Both firms offer a range of tradeable instruments, although Funded Academy extends into stocks, which can appeal to traders with a preference for equity markets.
Payment and Currency Options
Both entities share common deposit methods, streamline with modern financial trends by accepting crypto and credit/debit cards, while The Funded Trader includes an additional withdrawal option via Deel, possibly offering greater flexibility for fund access. Their account operations are primarily in USD, aligning with the standard expectation for trading accounts.
Establishment and Trust
Both relatively new, with Funded Academy incorporated in July 2021 and The Funded Trader in May 2021, they are young contenders in the prop firm industry. Their trustworthiness and long-term stability are yet to be ascertained through a longer operational history.
Retail traders considering their options should weigh these facets carefully, looking at their personal trading style, risk tolerance, and the specific rules and benefits of each firm to make the informed choice that best aligns with their trading objectives.