FunderPro Overview
Hey there, everyone! It's a pleasure to have you here once again, and today I bring you an updated review. In this installment, we're delving into FunderPro, one of the latest players in the proprietary trading firm scene, prominently featured on our website.
They've been on a remarkable growth trajectory, quickly establishing themselves as a highly appealing choice for traders across the globe. With the proprietary trading industry gaining traction, more and more traders are opting for funding from firms that are consistently evolving, offering excellent conditions and options.
Feeling overwhelmed by the choices? No worries! Our mission is to do the groundwork and introduce you to the finest proprietary trading firms, assisting you in finding the one that perfectly aligns with your requirements.
That being said, let's dive into this review of FunderPro and explore the offerings they bring to traders worldwide.
FunderPro's Background
Now, let's get into the specifics. FunderPro is among the newer entrants in the proprietary trading industry, having been officially incorporated in February 2023 under the visionary leadership of FinTech entrepreneur Gary Mullen.
Operating from their headquarters in Malta, FunderPro extends a unique opportunity to traders, with four distinct account sizes available, ranging from $25,000 to $200,000. However, what sets them apart is the ability for traders to manage a total capital pool of $5 million, which can be achieved by engaging in their scaling plan.
Funding Options
Now, let's delve into FunderPro's Two Step funding program and the array of account sizes they extend to traders worldwide. They offer a choice of four distinct Evaluation program account sizes, each allowing traders to engage with a leverage of 1:100.
Two-Step Evaluation
| Capital | $25,000 | $50,000 | $100,000 | $150,000 | 200,000$ |
|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 10%, Phase II- Profit Target = 8% | Phase I- Propfit Target = 10%, Phase II- Profit Target = 8% | Phase I- Propfit Target = 10%, Phase II- Profit Target = 8% | Phase I- Propfit Target = 10%, Phase II- Profit Target = 8% | Phase I- Propfit Target = 10%, Phase II- Profit Target = 8% |
| Profit Split | 85/15 | 85/15 | 85/15 | 85/15 | 85/15 |
| Weekend Holding | Allowed | Allowed | Allowed | Allowed | Allowed |
| Minimum Trading Days | 0 days | 0 days | 0 days | 0 days | 0 days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 5% | 5% | 5% | 5% | 5% |
| Max Drawdown | 10% | 10% | 10% | 10% | 10% |
| Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
| Refundable Fee | 249$ | 349$ | 549$ | 749$ | 989$ |
In Phase One, traders are tasked with reaching a profit target of 10%, all while ensuring they don't exceed the daily loss limit of 5% or the overall maximum loss of 10%. It's worth noting that there are no restrictions on trading hours during this phase, providing traders with the flexibility to carefully navigate their initial trades. However, there is a minimum requirement of five trading days to proceed to Phase Two.
Phase Two of the Evaluation program imposes similar conditions, requiring traders to achieve an 8% profit target while staying within the 5% daily loss limit and the 10% overall maximum loss constraints. Just like in Phase One, there are no time limitations, allowing traders to pace themselves, but they must fulfill the five-day minimum trading requirement to advance to a funded account.
Upon successfully completing both evaluation phases, traders gain access to a funded account, eliminating profit targets while retaining the 5% maximum daily loss and 10% overall maximum loss limitations. The initial payout is made seven calendar days from the day the first position is established in the funded account, and subsequent payouts follow a weekly schedule. Profits are shared at an 80% ratio, based on the gains accrued in the funded account.
The Evaluation program accounts also feature a scaling plan, a prevalent trend in the industry today. To qualify for a 50% increase in the original account balance, traders must achieve a profit of 10% or more within a three-month period, with at least two out of the three months demonstrating profitability.
Trading instruments available for Evaluation program accounts encompass a variety of assets, including forex pairs, commodities, indices, and cryptocurrencies. This offers traders a diverse range of options to explore and trade.
And there you have it, a concise overview of FunderPro's intriguing funding program.
Flexible Trading Challenges
What sets FunderPro apart from the crowd of prop firms? FunderPro distinguishes itself by adopting an approach that doesn't constrain your trading style. You have the freedom to trade during news events or hold positions overnight, even during weekends – a rarity in the industry.
However, two distinct advantages make FunderPro truly stand out when compared to the industry standard.
Firstly, in FunderPro's funded phase, you're trading with real money on a live account. Many other prop firms typically provide clients with demo accounts during their funded phase, which can limit the authenticity of the trading experience.
Secondly, FunderPro's challenge comes with no time limit. This means traders can take as much time as they need to complete the challenge. In other words, they trade when it suits them and when opportunities arise. This is in stark contrast to most prop firms that cap their challenges at around 30 days, which can force traders into hasty decisions to meet the imposed timeframes.
With no maximum time limitations in both evaluation phases and achievable profit targets, FunderPro, although relatively new to the industry, caters to a wide spectrum of traders. Their flexibility stands out as a key advantage.
Additionally, the ability to trade during news events and hold positions overnight, even on weekends, makes them highly competitive and attainable. FunderPro emerges as a commendable option to trade with, in our opinion.
What's more, receiving capital from the evaluation program accounts is highly feasible, primarily due to their above-average, yet realistic profit targets and standard maximum loss rules. The absence of maximum trading period limitations in both evaluation phases is one of the standout features of this prop firm.
All things considered, FunderPro offers an excellent avenue for securing funding. Their evaluation program accounts present traders with pragmatic trading objectives and conditions to receive payouts.
Payment Structure and Proof
Let's talk about payment proof. FunderPro follows a transparent and efficient payment structure. If you're in profit, you can expect payouts within seven calendar days, and they continue on a weekly basis.
For concrete examples of payment proof, I recommend checking out a video where Gary Mullen, the CEO of FunderPro, interviews their first funded trader. This video provides valuable insights and is definitely worth a watch.
Furthermore, you can head to their payout section on their Discord channel. They consistently post certificates from their traders, offering a tangible demonstration of their commitment to supporting and rewarding their trading community. Joining Discord communities for these prop firms is always a good idea. It lets you peek behind the scenes and become part of the trading community.
Broker and Trading Platforms
Now, let's talk about FunderPro's choice of broker and trading platforms. They don't opt for the common broker brands; instead, they've partnered with a tier-one liquidity provider. This strategic partnership equips them with institutional data and provides direct market access along with an efficient execution model on their live corporate accounts.
For trading platforms, FunderPro offers flexibility. Traders can choose to trade using the well-established MetaTrader 4 and MetaTrader 5, offering a familiar and trusted environment. Additionally, they offer the option to use TradeLocker, an advanced trading platform featuring charts powered by TradingView. This integration takes the trading experience to the next level.
FunderPro's range of trading instruments includes Forex pairs, Commodities, Indices, and Crypto. This diversity of offerings ensures that traders have a wide array of assets to explore and trade.
Education and Support
Let's shift our focus to the support and educational resources offered by FunderPro. They have invested significantly in educating their traders, offering a wealth of educational content directly on their website.
Moreover, FunderPro provides traders with a well-structured dashboard that simplifies the management of risk. The dashboard offers real-time statistics and insights into their trading objectives, empowering traders to make informed decisions and enhance their trading strategies.
TrustPilot Reviews
Now, let's quickly take a look at FunderPro's presence on TrustPilot. Given that they are relatively new in the industry, there is limited feedback available in user reviews. Currently, they maintain a median score of 4.2 out of five, but it's important to note that they have received some negative reviews.
However, what's noteworthy is that the prop firm has taken the time to respond to these negative reviews and provide explanations. This proactive approach is crucial, as it reflects a commitment to addressing issues and providing transparency to the trading community.
As always, I strongly advise doing your own due diligence. Explore the reviews, consider the feedback from other traders, and form your own comprehensive understanding of the prop firm.
Conclusion
In conclusion, FunderPro is a highly reputable proprietary trading firm. They are rapidly making a name for themselves in the industry, and their offerings are characterized by excellent conditions. If you're in the market for a prop firm with more relaxed trading rules, FunderPro is a strong recommendation. Despite being relatively new, they have crafted a platform that caters to a diverse range of traders with different trading styles.
Upon thorough consideration of everything that FunderPro brings to the table, it's evident that they possess the potential to ascend and claim a spot among the top proprietary trading firms in the industry. It's an exciting journey to watch unfold.