Lark Funding is a well-known prop trading firm from Canada.
But is Lark Funding a scam?
No, it isn’t!
Our review and experience show that Lark Funding is a safe proprietary trading firm.
Sign up with Lark Funding now!
You can share your experiences with Lark Funding within our comment section.
Table of Contents
Key Takeaways
- Lark Funding is a legit and popular name in the prop trading industry. It has a partnership with EightCap (a regulated broker) and uses virtual funds to protect users from real financial risks. They also have hundreds of positive reviews on Trustpilot from traders
- Lark Funding provides evaluation programs with no minimum or maximum time limits and flexible trading conditions. Traders can earn up to 90% of their account gains
- Our review of Lark Funding covers the prop firm’s pros and cons and aspects such as its evaluation process, trading rules, leverage options, payout systems, and customer support
About Lark Funding
Lark Funding is a proprietary trading firm founded in 2022. CEO Matt L. established the company in Montreal, Canada. Lark Funding aims to support both new and experienced traders in their journey to financial success. Traders can manage capital from $5,000 to $200,000, and successful traders earn 80% to 90% profit share.
| Name | Lark Funding |
|---|---|
| Website | larkfunding.com |
| Company | Lark Funding Inc. |
| Address | 3 Pl. Ville-Marie, Montréal, QC H3B 4W8, Canada |
| CEO | Matt L. |
| Founder | Matt L. |
| Founded | 2022 |
| Contact | Live Chat, Mail, Contact Form |
| [email protected] | |
| Phone Number | not available |
| Starting Capital | $5,000 to $200,000 |
| Profit Share | 80% to 90% |
| Evaluation | 0 days |
| Fee | $60 to $1,000 |
| Payment Methods | Credit Card |
| Instruments | CFDs, Forex |
| Platform | DXTrade, cTrader |
| Withdrawals | on request |
| Languages | English |
They also offer several innovative features, such as Pass Assist, Lark Gain Protector, and custom challenges, to make life easier for traders. Traders who have worked with the prop firm have also given positive reviews regarding their experience with the company.
Safety and Regulation
Lark Funding takes security and regulation seriously. They partner with EightCap, a regulated broker, for trading services, which adds regulatory oversight. The firm uses simulated accounts with virtual funds to protect users from real financial risks. Strict risk management rules are in place, including daily loss limits and drawdown restrictions. For payouts, they use trusted processors like Wise and Riseworks.
Lark Funding has KYC procedures and data protection measures in place. It maintains transparency with clear trading guidelines and adapts to regulatory changes. The firm also offers secure trading through MetaTrader 4 and 5 platforms. Its regular payout system also works as a proof of its financial stability.
Accepted Countries
Lark Funding has stopped accepting new U.S. clients due to regulatory challenges. Existing U.S. customers had to close their positions by February 26th and were moved to a new platform called DXTrade on February 27th.
The company hopes to allow U.S. registrations again. This situation only affects U.S. clients; customers from other countries can continue using Lark Funding as usual.
They do not offer services to traders residing in the following countries; Cuba, Iran, Lebanon, Syria, North, Korea, Libya, Sudan, Somalia.
Here’s an overview of the situation for key countries:
- Australia: Yes, registration is possible
- Canada: Yes, registration is possible
- Ghana: Yes, registration is possible
- Hong Kong: Yes, registration is possible
- India: No, registration isn’t possible
- Ireland: Yes, registration is possible
- Kenya: Yes, registration is possible
- New Zealand: Yes, registration is possible
- Nigeria: Yes, registration is possible
- Pakistan: Yes, registration is possible
- Philippines: Yes, registration is possible
- Singapore: Yes, registration is possible
- South Africa: Yes, registration is possible
- United Kingdom: Yes, registration is possible
- United States: Registration is suspended
Evaluation Process
Lark Funding offers three different evaluation programs: 1-stage, 2-stage, and 3-stage. Each program has its own set of rules and requirements. We’ll discuss all three options to help you understand which one might be the best fit for your trading style and goals.
After passing the evaluation, Lark Funding provides traders simulated demo accounts using virtual funds. These accounts use real market data but don’t involve actual trading. When traders use this account, their trading information is sent to a partner proprietary trading firm. This firm decides whether to replicate these trades in the real market.
1-Stage Evaluation
This program uses a single-stage evaluation to assess traders. You can start with as little as $75. You have to achieve a 10% profit target while managing risk. You must stay within a 6% maximum drawdown and 5% daily limit. There’s no time pressure, allowing you to progress at your own pace.
The process uses 1:15 leverage, which can be upgraded later. As a successful trader, you keep up to 80% of profits, potentially increasing to 90%.
| Starting Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|
| Profit Target | $500 | $1,000 | $2,500 | $5,000 | $10,000 | $20,000 |
| Maximum Daily Loss | $250 | $500 | $1,250 | $2,500 | $5,000 | $10,000 |
| Maximum Loss | $300 | $600 | $1,500 | $3,000 | $6,000 | $12,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee | $75 | $125 | $225 | $325 | $525 | $1,000 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
2-Stage Evaluation
The test has two phases. In the first phase, you need to make 8% profit, and in the second phase, you need to make 5% profit. You have to be careful not to lose too much money. You can’t lose more than 10% overall or 5% in one day.
There’s no time limit. You can take as long as you need to finish the test. If you pay for the upgrade, you can keep up to 90%. The program uses a simulated leverage of 15:1, which can be increased to 30:1 upon completion.
| Starting Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|
| Profit Target | $400 | $800 | $2,000 | $4,000 | $8,000 | $16,000 |
| Maximum Daily Loss | $250 | $500 | $1,250 | $2,500 | $5,000 | $10,000 |
| Maximum Loss | $500 | $1,000 | $2,500 | $5,000 | $10,000 | $20,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee | $75 | $125 | $225 | $325 | $525 | $1,000 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
3-Stage Evaluation
It’s a three-phase evaluation program. You start with a higher target of 5% gain in the first phase. As you progress, the targets get easier – 4% in the second phase and 3% in the third. This setup could help you build momentum early on while easing the pressure as you advance.
It caps your total losses at 5%. There are no daily limits, though, so you’ve got some wiggle room. You can upgrade your account right away when you hit targets. The profit split is good, as you get to keep 80-90% of the profit. They offer some hefty leverage, too, up to 30:1.
| Starting Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|
| Profit Target | $250 | $500 | $1,250 | $2,500 | $5,000 | $10,000 |
| Maximum Daily Loss | no limit | no limit | no limit | no limit | no limit | no limit |
| Maximum Loss | $250 | $500 | $1,250 | $2,500 | $5,000 | $10,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee | $60 | $105 | $175 | $240 | $370 | $700 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
Challenge Trading Rules
To pass the evaluation test, you have to achieve the profit target by following the trading rules. We’ve explained them here:
- Profit Target
- Profit Split
- Trading Period
- Minimum Trading Days
- Maximum Daily Loss
- Maximum Loss
- Maximum Position Size
- Maximum Capital Allocation and Multiple Accounts
- Trading Types
- Leverage
- Trading Style
- Trading Hours
- News Trading
- Weekend and Overnight Trading
- Expert Advisor
- Copy Trading
Profit Target
The 1-Stage evaluation program requires traders to achieve a 10% profit target. For the 2-Stage program, traders must reach an 8% profit in the first stage and a 5% profit in the second stage.
The 3-Stage program begins with a 5% profit target, which decreases to 4% for the second stage and 3% for the third stage.
Lark Funding’s Pass Assist automatically recognizes when you’ve reached your evaluation target. You don’t need to close trades or watch your screen constantly.
Profit Split
The profit split is the same for all programs. The base split is 80%. This means you keep 80% of the profits you make. If you pay for the paid upgrade, you can increase your share to 90%.
Trading Period
There’s no trading period. You can take as many days as you need to complete the challenges.
Minimum Trading Days
There is no minimum number of trading days required, so you are not forced to trade even after you’ve achieved your profit target.
Maximum Daily Loss
The 1-Stage program has a 5% maximum daily loss limit, which helps control risk each day. The 2-Stage program also uses a 5% daily loss limit, which applies in both stages. The 3-Stage program is different. It does not have a specific daily loss limit. Instead, it has a 5% overall drawdown limit.
Maximum Loss
The 1-Stage program has a maximum drawdown of 6%. This means you can’t lose more than 6% of your account value during the evaluation period.
The rules for the 2-stage program are a bit more lenient. You’re allowed a maximum drawdown of 10%, so you can lose up to 10% of your account value overall across both evaluation stages.
The 3-stage program has the strictest overall loss limit. Throughout all three phases of the evaluation process, your total losses can’t exceed 5% of your account value.
Maximum Position Size
This system sets maximum lot sizes for trading accounts of different values. The larger the account, the more lots you can trade at once. For example, a $5,000 account can trade 1 lot, while a $200,000 account can trade 40 lots.
“Open risk” means you’re potentially losing money on a trade. Once your trade is profitable and you’ve moved your stop loss to breakeven or better, it’s no longer considered “open risk.” Now, you can open more trades up to the maximum lot size again.
For instance, with a $100,000 account, you can start with 20 lots. Once that trade is profitable, you can open another trade with 20 more lots, totaling 40 lots.
If you exceed these limits, your trade will be automatically closed. This is a “soft breach,” and you can continue trading. Remember, even though these are the maximum lots allowed, margin and leverage requirements may limit how much you can actually trade.
Maximum Capital Allocation and Multiple Accounts
You can have multiple funded accounts, but you can’t combine them. The maximum amount you can trade with the prop firm is $600,000.
Trading Types
You can trade foreign exchange (F.X.) for currency pairs, commodities like gold or oil, stock indices, and even cryptocurrencies.
Leverage
Lark Evaluation accounts offer different leverage options depending on the asset type. For F.X. and Metals, you start with 15:1 leverage but can choose to double it to 30:1 during checkout. Crypto has a standard 2:1 leverage, while Indices come with 10:1 leverage. It’s important to note that the option to double leverage is only available for F.X. and Metals, not for other asset types.
Trading Style
While using the platform, we found that some types of trading styles are prohibited. You can find them below:
- All-or-nothing trading: Large volume trades that risk breaching drawdown limits in a single trade.
- Martingale trading: Increasing investment after losses or adding to losing positions.
- Grid trading: Setting opposing buy and sell orders for the same instrument.
- High-frequency trading (HFT): Using advanced algorithms for rapid, high-volume trading.
- Hedging between accounts: Hedging between multiple Lark Funding accounts or with third-party companies.
- Holding equity CFDs into earnings releases: Keeping single share equity CFD positions open during earnings announcements.
Trading Hours
The trading hours depend on the external liquidity providers, and the firm can’t change them. Keep in mind that holidays might affect when trading is available. Also, they have a rule about not keeping trades open over weekends. Because of this, they close all open trades at 3:45 pm Eastern Time every Friday.
News Trading
One of the key features of lark funding is that it allows trading during news events. However, clients should be aware of the All-or-Nothing prohibited trading strategy rule. Opening large positions immediately before or during major news events is considered risky behavior. This practice doesn’t follow good risk management and could violate the firm’s terms and conditions.
Weekend and Overnight Trading
You can keep trades open overnight, which is useful for longer-term strategies. Weekend trading is also available for an extra fee, though normally, trades must close by Friday afternoon to avoid weekend market risks.
If you don’t close your trades by the deadline, Lark Funding will automatically close them for you. This is considered a soft breach. You’ll still be able to start trading again when the markets open next.
Expert Advisor
Expert Advisors (EAs) are allowed but with some limitations. All E.A.s are allowed except those designed for high-frequency trading (HFT) or arbitrage trading are not allowed.
Copy Trading
While using the product, we found that the prop firm allows trade copiers, but there are some rules to follow.
You can’t use them to pass multiple Evaluations at the same time. Each Evaluation must be passed individually. This means you’re not allowed to copy the same trades across different Evaluations, even if you do it manually.
However, once you’ve passed your evaluations and have simulated funded accounts, you can use a trade copier between these accounts.
Trading Platforms
Lark Funding gives traders two options for trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have powerful trading tools and features that help traders create profitable strategies and make informed decisions. MT4 and MT5 offer excellent tools for analyzing markets, executing trades, and managing risk.
Trading Instruments
From our own experience, we can say that you will have access to a diverse asset classes and financial markets. You can practice demo trading on major Forex pairs, commodities like Gold, Silver, and Oil, as well as global stock indices. Additionally, you can demo trade popular cryptocurrencies. These allow you to gain trading experience without risking real money.
Brokers
Lark Funding works with EightCap, a regulated broker, to provide trading services. EightCap offers MetaTrader 4 and MetaTrader 5 platforms, which Lark Funding traders use for trade execution.
This partnership is important because it ensures that Lark Funding operates through a properly regulated entity. By working with a regulated broker like EightCap, Lark Funding ensures the safety and trustworthiness of its services.
Other Products
Lark Funding doesn’t offer any other products apart from the funding programs.
Prices and Challenge Fees
You can try their programs at competitive prices. Learn about the price of their programs here:
1-Stage Program:
| Account Size | Fee |
|---|---|
| $5,000 | $75 |
| $10,000 | $105 |
| $25,000 | $225 |
| $50,000 | $325 |
| $100,000 | $525 |
| $200,000 | $1,000 |
2-Stage Program:
| Account Size | Fee |
|---|---|
| $5,000 | $95 |
| $10,000 | $150 |
| $25,000 | $225 |
| $50,000 | $325 |
| $100,000 | $525 |
| $200,000 | $1,000 |
3-Stage Program:
| Account Size | Fee |
|---|---|
| $5,000 | $60 |
| $10,000 | $105 |
| $25,000 | $175 |
| $50,000 | $240 |
| $100,000 | $370 |
| $200,000 | $700 |
Payment Methods and Payout System
Lark Funding accepts credit/debit cards for payment of the evaluation fee.
They allow traders to withdraw their simulated gains through their Dashboard. When you request a performance split, the support team will contact you to confirm your preferred payout method. Depending on your program, you can request a payout 7 to 30 days after your first trade.
There’s a minimum withdrawal amount of $100. The team reviews payout requests within three business days, often sooner. Since May 1st, 2023, they have used Wise and Riseworks for payouts. While the process typically takes a few business days, many traders receive their funds in less than 24 hours.
Lark Funding offers weekly payouts in their 3-Stage Program. Once you get your Simulated Funded Account, you must wait 14 days before requesting your first payout. After this initial period, you can ask for payouts every week. For 1-Stage and 2-Stage programs, you can request payouts every 14 days.
Registration and KYC
The registration process is simple and takes only a few minutes:
- Open the Lark Funding website
- Choose between 1-stage, 2-stage, or 3-stage evaluation programs.
- Select an account size from $5,000 to $1,000,000.
- Pay the one-time fee based on your chosen program and account size.
- Complete the registration with your personal information.
- Submit a government-issued photo ID and recent proof of residence for verification.
- Begin your evaluation by meeting profit targets and following trading rules.
Discount and Promo Code
Lark Funding offers a “Surrender Account” option for traders who want to start over. This feature gives a 75% discount to restart Phase 1 of the evaluation. To use this, you must:
- Not exceed 75% of your available drawdown (Keep your account balance above 96.25% of the starting amount)
- Avoid losing more than 1% on any single trade.
- Close all open trades before surrendering.
This option is available at all stages, even for funded accounts. It allows you to reset your progress while saving money on a new evaluation.
Free Trial and Demo Account
Lark Funding doesn’t offer free trials, but it offers an alternative way to experience its platform without cost. It hosts free monthly competitions, which serve two purposes. First, these competitions allow you to try out the Lark Funding platform. Second, they give you a chance to win free Evaluations. Evaluations are typically paid, so winning one for free is a great opportunity for new traders.
Mobile App
Lark Funding operates mainly through a website, not a mobile app. Traders use this web platform to handle their accounts and trading evaluations.
Customer Service and Support
Customers can contact them through a website form or by emailing [email protected]. They promise to respond to customer questions within 24 hours.
They also have a live chat support team. Their Discord support channel is great for new traders.
Taxes
Lark Funding treats its traders as independent contractors. This means you’re responsible for handling your own taxes on any profits you earn from trading. The company doesn’t take out taxes from your earnings or manage tax payments for you. It’s important to seek advice from a tax professional to make sure you’re meeting all your tax obligations related to your Lark Funding income. Learn more in our dedicated guide about “Prop Trading Taxes“.
Alternatives and Competitors of Lark Funding
If Lark Funding doesn’t meet your trading needs, strategies, and preferences, you can have a look at other great prop trading firms. These are currently its top three competitors:
Earn2Trade
Earn2Trade Trader Career Path® lets traders begin with $25,000 and grow to $400,000 by reaching profit goals. They offer over 20 trading platforms, including NinjaTrader. Funded traders keep an 80% share of the profit. Earn2Trade provides a good opportunity for traders as they also offer extensive education and expert support for learning futures trading.
FTUK
FTUK trading firm offers you a chance to trade with capital up to $5,760,000. The profit-sharing model is great as you get to keep 80% profit. They provide two options: Instant Funding for immediate trading and a 1-Phase Evaluation Process.
The5ers
The5ers offers 50-100% profit sharing, with higher percentages as traders scale up. So, you can potentially keep all your profit. Programs include Bootcamp (beginners), Hyper Growth (instant funding, no evaluation), and High Stakes (experienced traders).
Conclusion
While new in the prop trading industry, Lark Funding has quickly proven itself as a legitimate and innovative prop trading firm. It is an amazing option for traders who want to grow their skills and profits. The prop firm offers flexible programs, high-profit splits, and helpful features like Pass Assist.
Their partnership with a regulated broker and the use of simulated accounts show they take safety seriously. With no time limits on challenges and a wide range of tradable assets, Lark Funding gives traders room to develop their strategies. Their clear payout system and responsive support only add to their appeal.
Sign up with Lark Funding now!
So, turn your trading potential into real income. Sign up with Lark Funding today and gain access to funded accounts.
Frequently Asked Questions
Here, we’ve answered the most common questions about the Lark Funding prop firm.
Is Lark Funding legit or a scam?
Though it’s a new proprietary firm, it’s completely legit and has worked with thousands of traders. It also has a good track record and great ratings on Trustpilot. Find more about the prop firm in the “Safety and Regulation” section.
Is Lark Funding regulated?
Lark Funding is not a brokerage firm and isn’t a regulated company. It does not carry out any regulated activities and is not required to be regulated. Find out more about this in the “Safety and Regulation” section.
What is Lark Funding?
Lark Funding is a proprietary trading firm that offers traders the opportunity to trade with funded accounts through a structured evaluation process. Explore more in the “About Lark Funding” section.
What broker does Lark Funding use?
Lark Funding uses EightCap raw account to provide its financial services, which is a well-regarded brokerage firm. Find out more about this in the “Brokers” section.
How many Lark Funding accounts can I have?
You can have multiple accounts, but you can’t merge accounts. Learn more about this in the “Challenge Trading Rules” section.
Where is Lark Funding located?
Lark Funding is headquartered in Montréal, Canada. Find more about the company in the “About Lark Funding” section.
Does Lark Funding allow an expert advisor or copy trading?
Lark Funding allows expert advisors and copy trading but with a few conditions. Learn more about these in the “Expert Advisor” and “Copy Trading” sections.
Is Lark Funding Legal in the US?
Lark Funding is legal in the US, but the prop firm has paused offering its services in the USA. Find more about this in the “Accepted Countries” section.
How long has Lark Funding been around?
The prop company has been operating since the summer of 2022. Learn about the company in depth in the “About Lark Funding” section.
How much does Lark Funding cost?
The entry fee for the evaluation programs ranges from $60 to $1000. The “Prices and Challenge Fees” section provides more information.
How often does Lark Funding payout?
Weekly payouts are available on their 3-Stage Program. Payouts can be processed every 14 days (bi-weekly) for the other two programs. Explore more about this in the “Payment Methods and Payout System“.
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