With an ever-increasing number of online trading platforms and firms, choosing the right one to entrust your capital and hopes of lucrative returns becomes demanding. One such platform, The Funded Trader, has sparked interest amongst traders, providing an avenue to trade a range of instruments through an associated broker, Eightcap.
Traders Union has published the Funded Trader review. This post aims to delve deeper into the details of The Funded Trader, evaluating its merits and drawbacks to guide traders in their decision-making process.
What is The Funded Trader?
According to the Traders Union experts, The Funded Trader operates in association with Eightcap, offering its users the opportunity to trade currencies, indices, commodities, and gold. Interestingly, cryptocurrencies are only available during the platform’s challenges. With a minimum leverage of 1:2 and a maximum of 1:200, The Funded Trader accommodates a variety of trading styles, including scalping and copy trading (with certain restrictions).
The Funded Trader offers four distinct account types with balances ranging from $25,000 to $400,000. Each account type comes with an initial fee, refundable upon successfully completing the platform’s challenge. For example, a Standard account with a balance of $100,000 demands an initial fee of $549. Traders begin with an 80% profit split, which can be increased up to 90%, while the remaining percentage goes to the prop firm.
This proprietary trading firm, adhering to standard KYC/AML protocols, also hosts regular promotions offering discounts and special conditions. It further extends a typical partnership program for its users.
Advantages and disadvantages of The Funded Trader
Traders Union experts have carefully analyzed The Funded Trader’s offerings, highlighting the following key advantages:
- Diverse Account Types: The platform offers four account types with various subtypes, enabling a wide range of balances.
- Challenge Retries: If traders fail at any phase, they can retry the challenge, allowing them to learn from their mistakes and apply improved strategies.
- Multiple Trading Platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView.
- No Strategy Restrictions: Traders can utilize any trading strategy and use their advisors without limitations.
- Attractive Profit Split: Partners initially receive 80% of the net profit, which can be increased to 90% over time.
However, The Funded Trader also exhibits several shortcomings:
- Limited Instrument Range: While Eightcap offers numerous instruments, only a few are available through this prop firm.
- Crypto Trading Restrictions: Trading in cryptocurrencies is only permitted during challenges.
- Language Barrier in Support: Technical support is available exclusively in English, limiting accessibility for non-English speakers.
Analysis of the main features of The Funded Trader
The Funded Trader scores an overall 8.3/10, with solid scores across order execution (8/10), investment instruments (8.6/10), withdrawal speed (8.4/10), customer support (8.2/10), variety of instruments (7.9/10), and the trading platform (8.7/10).
Trading conditions for The Funded Trader
The Funded Trader extends a variety of trading conditions. It supports MetaTrader 4, MetaTrader 5, and TradingView platforms. Accounts offered include Standard, Rapid, Royal, and Knight Challenge. The minimum deposit is $189, and leverage can increase to 1:200. Traders can replenish or withdraw using various methods, including bank transfers, bank cards, e-wallets, and crypto-wallets. The platform offers a range of instruments like forex, indices, commodities, and gold. It also features mobile trading and an affiliate program.
The Funded Trader commissions & fees
TU experts highlight that The Funded Trader, like other prop trading firms, doesn’t charge its partners trading fees, which Eightcap sets. Instead, the platform earns a percentage of the trader’s profit and takes an initial refundable fee that varies with account type and available balance. The initial profit split is 80/20, which can later be increased to 90/10 in the trader’s favor.
Additionally, Traders Union has also published the True Forex Funds review on its official website.
Conclusion
In conclusion, The Funded Trader offers a platform catering to various trading styles, strategies, and experience levels. To delve deeper into such reviews and to get more insights, visit the Traders Union’s official website.
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