- 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.
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
Funded Academy emerges as a compelling option for traders seeking to scale their careers with real accounts funded up to a whopping $1,000,000. The standout feature of this firm is its offer of bi-weekly payouts, especially appealing with profit shares ranging from 70% to 90%. The 1:100 leverage for Standard challenge accounts is also a significant perk for those with an aggressive trading approach, while the permission for overnight positions and news trading adds to the flexibility and dynamism of trading strategies.
The Extended challenge accounts bring additional exclusive benefits to the table, although those are not explicitly detailed in the given context. In terms of operational rules, Funded Academy enforces standard industry practices such as lot size limits, maximum daily loss, a cap on overall loss, and the requirement of stop loss orders. The prohibition of weekend holding alongside profit targets maintains a balance between opportunity and risk.
However, the lack of specified cons for Funded Academy leaves potential traders uncertain about the possible downsides of the firm. Traders must be mindful of the inherent risk that rules might impose on their trading styles.
For funding and payouts, Funded Academy leans on the modern side with crypto options available for both deposits and withdrawals along with traditional payment methods like credit/debit cards and Perfect Money.
The trading instruments are diverse, covering markets from crypto and forex to indices, metals, and stocks – offering a wide canvas for traders of various preferences.
Concerning account sizes, traders have a spectrum of choices ranging from $10,000 to $1,000,000, which caters to both budding traders and seasoned professionals. All accounts are denominated in USD, which is standard, though it could present conversion concerns for international traders.
Established in July 2021, Funded Academy is fairly new to the scene, which can be a double-edged sword. On one hand, there's potential for modern, dynamic approaches to prop trading; on the other hand, there's less of a track record to assure traders of the firm's reliability and stability in the long term.
Firm 2: TopStepFX - In-Depth Review
TopStepFX has been a significant player since its incorporation in February 2012, offering a matured trading environment. The firm provides traders with funded accounts and structured trading conditions that emphasize risk management. The scaling plan aligns with traders' growth, encouraging consistency and gradual progress with varying account sizes to suit individual needs.
The approach to leverage is noteworthy; the effective leverage management speaks to a disciplined approach, potentially attracting traders who value risk control. TopStepFX seems to cater well to those who are serious about honing their trading craft, particularly with its rigorous evaluation process.
The firm's trading rules encapsulate a broader "Funded Trader Program," suggesting a packaged approach to trading guidelines. The terms, however, are not specified in this context, leaving some detail to be desired for an informed comparison.
Despite the structured framework, the firm's stringent policies, including a daily loss limit, can be perceived as a drawback for traders who detest strict trading constraints. Additionally, the monthly costs and the discipline required underline a potentially steep learning curve and financial commitment for novice traders.
TopStepFX limits its deposit methods to credit/debit cards, which is somewhat restrictive. Withdrawal options are also limited to bank wire transfers, which may not favor traders preferring faster and more modern payment solutions.
When it comes to tradeable instruments, the focus is narrowed to commodities, which could be limiting for traders interested in diversified portfolios.
In account offerings, the currency options are limited to USD and GBP. This could imply either trading account denominations or available currencies for trading, leaving a gap in understanding for potential traders.
Ultimately, TopStepFX’s long-standing presence in the sector implies a level of trustworthiness and a recognized standard of operation. Its focus on discipline and structured growth reflect its veteran status, yet may also suggest an environment perhaps not as adaptable as newer firms like Funded Academy.
Verdict
Retail traders face a choice between Funded Academy's more flexible and high-leverage opportunities versus TopStepFX’s structured approach with a robust focus on risk management. Funded Academy offers a broader range of instruments and modern transaction methods, making it potentially more suitable for traders seeking variety and those comfortable with digital currencies.
Conversely, TopStepFX appeals to those who prize a disciplined trading environment with a clear scaling path. New traders should weigh the importance of firm longevity and structure against modern features and funding options. Meanwhile, experienced traders will consider the financial products offered, rules, and payout structures that align best with their strategies.
Both firms undoubtedly have their virtues, and the decision will largely depend on individual trading styles, risk tolerance, and financial goals. Choosing the right prop firm is an essential step in a trader's career, and both Funded Academy and TopStepFX offer distinct paths worth considering.
