The Funded Trader is a well-known prop trading firm from the United States.
But is The Funded Trader a scam?
No, it isn’t!
Our review and experience show that The Funded Trader is a safe proprietary trading firm.
Sign up with The Funded Trader now!
You can share your experiences with The Funded Trader within our comment section.
Table of Contents
Key Takeaways
- The Funded Trader is a registered US company that has paid traders 55 million USD since its inception. They also have a large user base (100k+ traders), excellent Trustpilot ratings, and positive reviews from the users
- The prop firm offers different challenges for the evaluation test at different price points. There’s also a great leverage option to help you earn quickly
- Our review of The Funded Trader covers their challenges, rules, profit share, fees, and overall experience
About The Funded Trader
The Funded Trader was founded in 2021 by Angelo Ciaramello, Blake Olson, and Carlos Rico Jr. The prop firm is headquartered in Liberty Hill, Texas.
| Name | The Funded Trader |
|---|---|
| Website | thefundedtraderprogram.com |
| Company | The Funded Trader LLC |
| Address | 14001 W HWY 29, Suite 102, Liberty Hill, TX 78642, United States |
| CEO | Angelo Ciaramello |
| Founder | Angelo Ciaramello, Blake Olson, Carlos Rico Jr. |
| Founded | 2021 |
| Contact | Live Chat, Mail, Phone, Ticket System |
| [email protected] | |
| Phone Number | +1 (0)888 9203079 |
| Starting Capital | $5,000 to $200,000 |
| Profit Share | 80% to 95% (scaling plan) |
| Evaluation | at least 3 days |
| Fee | $65 to $1,879 (refundable) |
| Payment Methods | Credit Card, Bank Transfer, Cryptocurrencies (Bitcoin, Ethereum, USDT, USDC, DAI) |
| Instruments | Forex, Commodities, Indices, Crypto |
| Platform | cTrader, DXtrade, Platform 5 |
| Withdrawals | twice per month |
| Languages | English, Spanish, French, Portuguese |
These are the same founders of Forex League and VVS Academy. So, despite the company being new, the founders have a lot of experience. Angelo Ciaramello currently holds the CEO position in the company.
They’ve paid over $55 million to their prop traders so far. There are more than 100,000 active traders with The Funded Trader. Their website receives over 1.8 million visits per month. The huge user base and their clean record of payouts show that they are a solid company.
Safety and Regulation
The Funded Trader LLC is registered in the USA, Texas, and follows all federal and state laws. They aren’t regulated since they are not a brokerage company.
More than 100,000 traders have been working with them for years and have not faced any problems showing reliable performance.
They also use data encryption to protect your personal and trading information. They are transparent about their risk management practices and trading rules.
Accepted Countries
The Funded Trader excludes very few countries, such as Cuba, Iran, Lebanon, Syria, North Korea, Libya, Sudan, Somalia, and Vietnam. This is due to the Office of Foreign Assets Control (OFAC) sanction against these countries.
People from Russia, Crimea, and the areas of eastern Ukraine around Donetsk and Luhansk can’t also access their platform due to the US sanctions. Here’s the status for the most important 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: No, registration isn’t 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: Yes, registration is possible
Evaluation Process
To get a funded account and become a full-time trader with the prop firm, you must go through the evaluation process and prove your trading skills.
The trading challenges can be either single-phase or multiple-phase. Let’s learn more about them.
The Funded Trader Accounts
There are five account options to choose from:
Standard Challenge
The standard program offers a quick path to your first real profit and payout as you can withdraw your payout within two weeks. They also offer high leverage (up to 1:200) on simulated FX pairs.
Remember, it’s simulated trading and not happening in real-market conditions. You can use EAs and copy trades from others.
| 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 | $500 | $1,000 | $2,500 | $5,000 | $10,000 | $20,000 |
| Minimum Trading Days | 3 | 3 | 3 | 3 | 3 | 3 |
| Fee (refundable) | $65 | $129 | $199 | $299 | $499 | $1,135 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
Rapid Challenge
With this one, you can also receive your first payout within two weeks. The drawdown is calculated based on your account balance. If you complete the challenge in one day, you can immediately move to the next phase.
| 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 | $400 | $800 | $2,000 | $4,000 | $8,000 | $16,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee (refundable) | $79 | $129 | $229 | $299 | $499 | $899 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
Royal Challenge
This Funded Trader Royal Challenge offers flexible and relaxed trading requirements. It puts no restrictions on specific trading strategies. There are no restrictions on the trade size. It has a 10% maximum drawdown and an 8% virtual profit target for phase 1.
| 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 | $400 | $800 | $2,000 | $4,000 | $8,000 | $16,000 | |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 | |
| Fee (refundable) | $60 | $120 | $189 | $289 | $289 | $489 | $1,158 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
Knight Challenge
The USP of this challenge is that there’s only one step in the evaluation test for the funded account. It can also lead to the first payout within 10 days.
You’re free to use the tools and strategies you prefer, including Expert Advisors (EAs) for automation. And there’s no limit on size, either.
| 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 | $150 | $300 | $750 | $1,500 | $3,000 | $6,000 |
| Maximum Loss | $300 | $600 | $1,500 | $3,000 | $6,000 | $12,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee (refundable) | $59 | $99 | $189 | $289 | $489 | $939 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now |
Dragon Challenge
The Dragon Challenge requires you to pass three phases to earn a funded account. You can start trading using a simulated account, starting with up to $100,000 of virtual money. There are no time limits to completing the challenge.
| Starting Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 |
|---|---|---|---|---|---|
| Profit Target | $400 | $800 | $2,000 | $4,000 | $8,000 |
| Maximum Daily Loss | $250 | $500 | $1,250 | $2,500 | $5,000 |
| Maximum Loss | $500 | $1,000 | $2,500 | $5,000 | $10,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 |
| Fee (refundable) | $49 | $99 | $135 | $205 | $355 |
| Discount | Check now | Check now | Check now | Check now | Check now |
Phase 1: Evaluation
In the first phase, you must prove that you have the necessary skills to become a successful trader. The prop trading firm will give you a simulated (not real money) trading account to demonstrate your abilities.
With that account, you’ll need to hit a specific profit target while following the trading rules (minimum trading days, drawdown, etc.) to pass the evaluation test and get access to a funded account.
Phase 2: Verification
You can access the “Verification” phase within 24 hours of passing the evaluation test. In this phase, you’ll be given a stimulating account to re-evaluate your trading skills and strategies.
You’ll receive a contract as a funded prop trader if you prove successful. Then, you can trade with a funded account. However, you must follow the company’s trading conditions even as a funded trader.
Choosing the knight challenge account will help you skip the verification phase. On the other hand, the royal challenge has another additional evaluation level named validation.
Challenge Trading Rules
Here are the rules you have to follow:
- 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
A profit target is a specific profit goal that you have to achieve to pass the challenge and move on to the verification phase. From our extensive use of the platform, we learned that in the first phase, The Funded Trader offers a profit target of 8-10%, while in the verification phase, it’s 4-5%.
- Standard Challenge: The profit goal is 10% in the first phase (for example, on a $5,000 account, make a $500 profit). Then, you must hit a 5% profit target in the verification phase.
- Rapid Challenge: To get funded, you’ll need to generate an 8% profit in the first phase (for example, on a $50,000 account, make a $4,000 profit). Next, get 5% profit in the verification phase.
- Royal Challenge: The Funded Trader’s royal challenge requires you to earn 10% profit in the first phase. You must hit only a 5% profit target in the second phase.
- Knight Challenge: It’s a one-phase test. Achieving the 10% profit target will get your account funded and launch your trading career.
- Dragon Challenge: In the first phase, you have to achieve a 10% profit margin, and in the following phases, you can only achieve a 5% profit margin.
To scale up for Standard, Royal, & Knight Challenges, you must earn 6% profit (or an average of 2% per month) over three months.
Also, you’ll need to make a minimum of two withdrawals during the same 3-month period.
For Rapid Challenge, if you earn profit exceeding 10% of the initial account balance in a single payout, your account will get scaled. If you do that twice in 3 months, your profit share will be permanently 95%.
Profit Split
You’ll get 80% of the profit, while the proprietary trading firm gets 20%. By scaling the account, you can increase your profit share up to 95%.
Trading Period
There’s no trading period. So, you can take as many days as you need to pass the test.
Minimum Trading Days
There are no minimum trading days for the funded accounts. However, there are minimum trading days for certain challenge accounts.
- Standard Challenge: Minimum of 3 trading days
- Rapid, Knight, Dragon Challenges: No minimum trading days
- Royal Challenge: Minimum of 3 trading days
Maximum Daily Loss
It’s the maximum loss you can take in your simulated account within a trading day. Here’s the maximum daily loss for each account:
- Standard Challenge: 5% of initial demo account balance (6% with add-on)
- Rapid Challenge: 5% of the current balance
- Royal Challenge: 5% of current demo equity/balance
- Knight Challenge: 3% of current demo equity/balance (4% with add-on)
- Dragon Challenge: 5% of the current balance
Maximum Loss
It’s the maximum amount of money you can lose across the challenge. Here’s the maximum loss for each account:
- Standard Challenge: 10% of initial demo account balance (12% with add-on)
- Rapid Challenge: 8% of initial demo account balance
- Royal Challenge: 10% of initial demo account balance
- Knight Challenge: 6% based on relative virtual drawdown (7% with add-on)
- Dragon Challenge: 10% of initial demo account balance
Maximum Position Size
Funded Trader is a prop firm that believes in giving traders freedom. That’s why they have placed no cap on maximum position size.
Maximum Capital Allocation and Multiple Accounts
From our experience, you can have up to $1.2M in simulated funds combined across all your active challenge accounts.
However, you can only have $600k across all active Funded accounts simultaneously. Multiple accounts are not an issue if their total value doesn’t cross the $600k threshold.
Trading Types
You can trade currency pairs (Forex), commodities, indices and cryptocurrencies.
Leverage
Here’s the leverage for all accounts:
Standard Challenge:
- Challenge: Forex 1:200, Gold & Commodities 1:30, Indices 1:20, Crypto 1:2
- Simulated Funded: Forex 1:100, Gold & Commodities 1:30, Indices 1:20, Crypto 1:1
Rapid Challenge:
- Challenge: Forex 1:100, Gold & Commodities 1:30, Indices 1:20, Crypto 1:2
- Simulated Funded: Forex 1:100, Gold & Commodities 1:30, Indices 1:20, Crypto 1:1
Royal Challenge:
- Challenge: Forex 1:50, Gold & Commodities 1:30, Indices 1:20, Crypto 1:2
- Simulated Funded: Forex 1:50, Gold & Commodities 1:30, Indices 1:20, Crypto 1:1
Knight Challenge:
- Challenge: Forex 1:30, Gold & Commodities 1:10, Indices 1:5, Crypto 1:1
- Simulated Funded: Forex 1:30, Gold & Commodities 1:10, Indices 1:5, Crypto 1:1
Dragon Challenge:
- Challenge: Forex 1:100, Gold & Commodities 1:30, Indices 1:20, Crypto 1:2
- Simulated Funded: Forex 1:100, Gold & Commodities 1:30, Indices 1:20, Crypto 1:1
Trading Style
There’s no restriction on trading style; you can trade with your preferred strategy. Algorithmic trading and discretionary trading or hedging are both allowed for The Funded Trader users.
Trading Hours
The trading hours depend on the trading assets you trade with. For example, the hours change according to the stocks.
News Trading
News trading isn’t allowed on funded or challenged accounts. You can’t open or close trades within 2 minutes before and 2 minutes after the high-impact news release.
This 4-minute window applies to opening and closing new orders and triggering stop-loss and take-profit orders. If you place trades during the window, profits from trades within the restricted window will be removed for the first two violations.
Your funded trading account will be closed permanently if it happens again for the third time.
Weekend and Overnight Trading
Only cryptocurrency trading is allowed over the weekend and overnight. Otherwise, overnight and weekend trading isn’t allowed, as you can’t keep trades open after the market closes.
Expert Advisor
There are restrictions regarding the use of EAs on certain accounts.
- Royal, Knight, and Dragon Challenges: You can use EAs on these without any restrictions from the start.
- Standard Challenge: You can use EAs if you buy the EAs add-on. Otherwise, EAs are not allowed.
- Rapid Challenge: EAs are never allowed on this account type.
Copy Trading
Copy trading is generally allowed, but there are some restrictions to make sure traders focus on improving their trading skills rather than trying to find shortcuts.
You can use your simulated account as the master. Trades placed here can be copied to your account. You can also copy trades between different account types (Royal, Knight, Standard, Dragon).
However, you can’t use services that automatically copy the trades of others. Also, you can’t copy trades to other people’s accounts.
Trading Platforms
DXTrade via Voyage Markets is exclusively available to U.S. nationals.
Platform 5 via Taurus LTD and cTrader via Voyage Markets are available to clients outside the USA.
You can’t change the trading platforms after you become a funded trader.
Trading Instruments
Funded Trader allows traders to use a wide range of trading instruments. Here’s the complete list.
- Foreign Exchange: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, EUR/TRY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/USD, NZD/CAD, NZD/CHF, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/MXN, USD/SEK, USD/TRY, USD/ZAR
- Metal: Silver Spot, Gold Spot
- Indices: Australia 200 Index, Japan 225 Index, Dow Jones 30 Index, Germany 40 Index, Nasdaq 100 Index, Euro Stoxx 50 Index
- Cryptocurrencies: Bitcoin Cash vs. USD, Ethereum vs. USD, Bitcoin vs. USD, Litecoin vs. USD
- Commodity: Crude Oil (Brent) Spot, Crude Oil (WTI) Spot
We listed The Funded Trader as Best Swing Trading Prop Firm and in the Top 3 Forex Prop Trading Firms.
Brokers
The Funded Traders work with reliable brokers like Eightcap, Purple Trading, Think Markets. They enjoy stellar reputation in the trading industry and gives assurance to the users.
Other Products
The firm hosts monthly YouTube Live events to discuss important topics and create a bond between the traders and the company.
Team members also get access to LinkedIn learning to improve their performance. They used to arrange competitions, with the top 30 traders of the month receiving prizes. However, there hasn’t been any competition lately.
Prices and Challenge Fees
Funded Trader provides different accounts at different prices. All fees are refundable if you pass the evaluation test and become a funded trader. Here, I’ve listed the prices below:
Standard Challenge:
| Starting Capital | Challenge Fee |
|---|---|
| $5,000 | $65 |
| $10,000 | $129 |
| $25,000 | $199 |
| $50,000 | $299 |
| $100,000 | $499 |
| $200,000 | $1,135 |
Rapid Challenge:
| Starting Capital | Challenge Fee |
|---|---|
| $5,000 | $79 |
| $10,000 | $129 |
| $25,000 | $229 |
| $50,000 | $299 |
| $100,000 | $499 |
| $200,000 | $899 |
Royal Challenge:
| Starting Capital | Challenge Fee |
|---|---|
| $5,000 | $60 |
| $10,000 | $120 |
| $25,000 | $189 |
| $50,000 | $289 |
| $100,000 | $489 |
| $200,000 | $1,158 |
Knight Challenge:
| Starting Capital | Challenge Fee |
|---|---|
| $5,000 | $59 |
| $10,000 | $99 |
| $25,000 | $189 |
| $50,000 | $289 |
| $100,000 | $489 |
| $200,000 | $939 |
Dragon Challenge:
| Starting Capital | Challenge Fee |
|---|---|
| $5,000 | $49 |
| $10,000 | $99 |
| $25,000 | $135 |
| $50,000 | $205 |
| $100,000 | $355 |
Payment Methods and Payout System
You can pay the deposit through cryptocurrencies like Bitcoin, Ethereum, USDT, USDC or DAI.
You can also use bank transfers or Visa and Master cards.
You can make withdrawals through bank transfers via Wise. If needed, payouts can also be made in cryptocurrency.
They offer payouts twice a month. There’s no restriction on the withdrawal limit. Now, different challenges have different deadlines after your first trade, before which you can’t withdraw profits:
- Standard: 21 days
- Rapid: 14 days
- Royal: 30 days
- Knight: 7 days
- Dragon: 7 days
These deadlines are not connected to the evaluation and verification process. You can only withdraw once you’re a funded trader.
Registration and KYC
Here’s the registration process:
- Visit The Funded Trader website and find the challenges section.
- Select your desired challenge type and starting capital amount.
- Click the “Buy” button for your chosen challenge.
- Create your account, review challenge details (make changes if needed), and enter any discount codes.
- Fill in your billing information.
- Agree to the Privacy Policy and Terms and Conditions.
- Click “Complete Order”.
- Pay the challenge fee on the payment page to begin prop trading.
After you’ve passed the first phase, your account will be on hold until you submit the KYC and verify yourself. Look for “KYC Submission” under your profile.
You have to submit a photo ID (driver’s license, passport, ID card) and Proof of address (bank statement, utility bill, internet/phone bill).
You’ll also need to take a selfie holding your photo ID. The entire process takes less than 5 minutes.
Discount and Promo Code
They often give discount and promo codes for the programs. Mostly, it’s once a month. You can use the promo code “KING125” for a 12.5% discount on the challenges.
Free Trial and Demo Account
They used to offer free trials, but they have paused the service for now. Their website mentions that they won’t be issuing a new trial account until further notice.
Mobile App
Though they don’t offer a dedicated mobile app, but you can download the mobile app version of platforms like cTrader and use it from your phone. You can also trade and access the website from a mobile browser.
Customer Service and Support
From our own experience, we’ve found funded trader’s customer service to be excellent. You can reach them through Live Chat (requires you to be registered), Email, the Ticket Contact Form on their website, or Telephone (US number provided).
It takes about a minute to reach an agent in live chat. However, the language seems to be primarily English.
Taxes
Drawing from our experience, you must pay taxes on the profits as earnings generated from prop trading are taxable income in the USA. The Funded Trader won’t take responsibility for it. So, consult with a tax advisor and make preparations for your tax return. Learn more in our dedicated guide about “Prop Trading Taxes“.
Alternatives to The Funded Trader
Here are some viable alternatives to The Funded Trader.
FTMO
FTMO is one of the best prop trading firms, in addition to The Funded Trader. They offer an excellent profit split at 95/10 and offer some amazing trading tools for free to help you become a skilled trader.
The Trading Pit
The Trading Pit is a prop firm that commands respect in the industry. It has received multiple business awards and offers certificates to those who pass the evaluation tests. The firm has kept the rules and regulations flexible.
Earn2Trade
The prop firm Earn2Trade offer a crash course in prop trading to give you a good start. Their blog section is quite informative and helpful for novice traders. The firm also allows you to keep 80% of the profit.
Conclusion
The Funded Trader offers great trading opportunities and a clear path to a successful career. They allow you to trade with a substantial capital and keep 80% of the profit, which can be scaled to 95%.
The prop firm offers various challenges with flexible rules, different starting capital levels, and prices. You’ll also have access to their resources, experts, and the community.
Sign up with The Funded Trader now!
If you’re a trader looking to advance your career, register with The Funded Trader today. Visit their website to learn more and start your evaluation process.
Frequently Asked Questions
Here, I have compiled the most relevant questions about The Funded Trader.
Is The Funded Trader legit or a scam?
It’s a legitimate prop trading firm that has made over 55 million USD in payments till now. For more information, check the “About The Funded Trader” section.
Is The Funded Trader regulated?
No, The Funded Trader is not regulated by financial law as the firm trades with its money and doesn’t deal with the client’s money. Read more in the “Safety and Regulation” section.
What is The Funded Trader?
The Funded Trader is a prop trading firm that allows traders to trade with their capital and earn profits. Read more about the company at “About The Funded Trader”.
Which broker does The Funded Trader work with?
The company works with only three brokers: Eightcap, Purple Trading, and Think Markets. Learn more about them in the “Brokers” section.
How many The Funded Trader accounts can I have?
There’s no limit to the number of accounts you can have. However, their collective capital can’t cross a certain amount. Learn more in the “Maximum Capital Allocation and Multiple Accounts” section.
Where is The Funded Trader based?
The Funded Trader is based in Liberty Hill, Texas. Read more about the company in the “About The Funded Trader” section.
Does The Funded Trader allow the use of an Expert Advisor or Copy Trading?
EAs and copy trading are generally allowed but with some serious conditions. Read more about this in the “Expert Advisor” and “Copy Trading” section.
Is The Funded Trader legal in the US?
Yes, the prop trading firm operates legally in the US. You also don’t need any license to do prop trading. Read about what it looks like in other countries under “Accepted Countries”.
How long has The Funded Trader been around?
The form was founded in 2021 and has been around three years. But it has grown in popularity due to the experienced hands guiding the company. Read the background information under “About The Funded Trader“.
How much does The Funded Trader cost?
The lowest price point to start at is $49. The most expensive account goes for $1,158 dollars. All information about the costs, can be found under “Prices and Challenge Fees”.
How often does The Funded Trader pay out?
The prop firm sends payouts twice a month. Learn more in the “Payment Methods and Payout System” section.
Having more than eight years of trading experience, I know how hard it is to find a good and reliable Prop Trading Firm and not to choose the wrong one. With PropTradingScam.com I want to help you to pick the right one, stay safe, and share your experience.
