The Funded Trader | Insightful Review from Experts for 2023
In the intricate labyrinth of the forex trading market, informed decisions and calculated risks govern the route to success. The term “funded trader” has been stirring up conversations in trading circles and making its presence known.
The Funded Trader review conducted by Traders Union experts unravels the varied facets of this prop trading firm and its enthralling prospect for traders around the globe.
What is The Funded Trader?
According to TU experts, The Funded Trader is a prop trading firm that collaborates with the Eightcap broker. The Funded Trader provides users with a platform to trade currencies, indices, gold, and commodities. They introduce the intriguing possibility of trading cryptocurrencies, albeit exclusively during challenge sessions. The firm presents leeway with leverage, setting a minimum of 1:2 and a maximum of 1:200. It welcomes all trading styles, from scalping to copy trading (with certain restrictions).
The platform offers four account types, including balances that range from $25,000 to $400,000. The initial fee is refundable and varies based on account type and balance. For example, a standard account with a balance of $100,000 requires an initial fee of $549. Traders start with a profit split of 80%, which could increase to 90%, while the remainder goes to the prop firm. The Funded Trader adheres to a standard KYC/AML protocol and hosts regular promotions, offering traders discounts and special conditions.
Pros and cons of trading with The Funded Trader
From the TU experts’ viewpoint, trading with The Funded Trader comes with distinct advantages and some drawbacks.
- Variety of four account types with several subtypes for a wide balance range.
- Traders can repeat challenges in case they fail any phase.
- Trading platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView.
- Trading instruments, like currencies, indices, commodities, and gold, are provided by Eightcap.
- Freedom in strategy application; traders can employ their advisors.
- Profit split starts at 80%, potentially increasing to 90%.
- Intuitive, aesthetically pleasing, and ergonomic dashboard for efficient trading.
- Limited instruments are available from Eightcap with this prop firm.
- Crypto trading is only possible during the challenge phase.
- While the website supports four languages, technical support is only in English.
Evaluation of The Funded Trader’s features
TU experts evaluated The Funded Trader on several parameters, presenting a comprehensive overview:
- User Satisfaction: 7.73/10
- Regulation and Safety: 8.6/10
- Commissions and Fees: 8.4/10
- Variety of Instruments: 7.9/10
- Brand Popularity: 8/10
- Customer Support: 8.2/10
- Education: 8.7/10
Trading conditions for The Funded Trader users
The TU expert analysis reveals that The Funded Trader lays out unique trading conditions. Traders can embark on the challenge after registration and paying the initial fee. The fee payment can be through bank cards, e-wallets, and crypto-wallets. Leverage varies with assets; for example, a Standard account has 1:100 leverage for currencies, 1:20 for indices, and 1:40 for commodities and gold. Technical support is accessible through phone, email, and live chat on the website.
The Funded Trader costs
TU experts have found that The Funded Trader, like other prop firms, doesn’t charge trading fees. Eightcap sets fees, while the platform earns a percentage of the trader’s profit and takes an initial refundable fee based on account type and balance. The profit split begins at 80/20 but can escalate to 90/10 in the trader’s favor after challenge completion.
In addition to The Funded Trader review, Traders Union has also reviewed and published the BlueFX review. To explore the broker and read a thorough review, please visit the official website of the Traders Union.
The landscape of Forex prop trading, as dissected in this review of The Funded Trader, is rich with opportunity yet laden with complexities. The Funded Trader, boasting distinct benefits and manageable limitations, presents a promising platform for traders to diversify their portfolios and augment their gains.
To further your understanding of prop trading and unlock a more informed and profitable trading journey, we encourage our readers to visit the official website of Traders Union.