- Four funding programs with up to $2,500,000 capital
- Stellar 4.9/5 Trustpilot; 90% profit splits
- Excellent support; scaling option available
- Comprehensive trading tools: forex, commodities, indices, and cryptocurrencies
- No trading day restrictions; overnight and news trading allowed.
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 Trading Plus
- Leverage up to 1:30
- High commission costs on forex pairs
- Trailing Drawdown
The Funded Trader
- No free trial (as of now)
- Customer support, while trustworthy, is slow
- Trailing drawdown (in Knight's challenge)
Rules 📋
Funded Trading Plus
Maximum Daily Loss, Maximum Trailing Drawdown, No Weekend Holding, Profit Target, 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
When choosing a proprietary trading firm, traders aim to align with an organization that complements their trading strategy and ambition. DayFunded brings to you a comparison that dives deep into the offerings of Funded Trading Plus and The Funded Trader—two prominent players in the prop trading arena.
Funded Trading Plus: A Diverse Portfolio for Ambitious Traders
Funded Trading Plus boasts an impressive range of funding programs, enabling traders to work with capital that can scale up to a hefty $2,500,000. High trust ratings and profit splits show a firm that has been consistent in delivering value to its traders, while the availability of a wide range of instruments accentuates the diversity it offers. The lifting of restrictions on trading days and allowance for overnight and news trading cater to diverse trading styles, while their comprehensive trading tools are a boon for technical traders.
However, the absence of Free Trial may deter those looking to test the waters before committing, and traders must pay attention to the firm’s specific rules related to trading like Maximum Daily Loss and other risk-related constraints, which, while necessary for risk management, might be limiting for some trading strategies.
The Funded Trader: Tailored Programs Catering to Modern Traders
On the other side of the table, The Funded Trader entices with a $600,000 standard balance and various funding options to suit different trading profiles. The leverage of 1:200 provided is noteworthy for those with appetite for high-risk trades, and the scaling potential up to $1,500,000 is certainly a draw. The firm's solid Trustpilot score provides credibility, while its unlimited free evaluation retries reflect a commitment to nurture traders towards success.
Nonetheless, the absence of a free trial and reports of slow customer support can be potential challenges. Also, the firm’s trailing drawdown mechanism may require strategic adjustments from the traders to ensure they are complying with the rules effectively.
User Experience and Support
Top-notch customer support is a crucial element, and according to reviews, Funded Trading Plus scores well, offering excellent support alongside their robust learning resources. The Funded Trader’s customer service, while reliable, has room for improvement in terms of response time. In an industry where swift communication can be pivotal, this could be an area for The Funded Trader to refine.
Funding and Withdrawal Options
Both firms align in facilitating transactions via credit/debit cards and cryptocurrencies, embracing traditional as well as modern financial practices. The withdrawal methods through crypto and Deel emphasize their adaptability and commitment to convenient fund management.
Account Offerings and Tradeable Instruments
Funded Trading Plus offers a smorgasbord of trading instruments along with varied account sizes that range from $5,000 to $200,000, catering to both novices and veterans. The Funded Trader, while having slightly less diversity in instruments, still ensures traders have essential markets like forex and cryptocurrencies at their disposal.
Regulatory Adherence and Risk Management
Both firms have set comprehensive trading rules and risk parameters that aim to instill discipline while offering an umbrella of risk mitigation. Traders should carefully consider how each firm's rules align with their trading style before committing to a program.
Conclusion
The face-off between Funded Trading Plus and The Funded Trader offers a glimpse into the evolving world of prop trading, highlighting the versatility of funding options that modern traders have at their disposal. Whether it's the expansive capital potential of Funded Trading Plus or the adaptable funding programs of The Funded Trader, retail traders have much to ponder. Ultimately, traders must weigh the pros and cons of each firm and consider factors such as trust ratings, trading tools, support systems, and risk rules to discern which partnership will amplify their trading journey.
