FunderPro review 2024: Discount coupons & funded Accounts

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FunderPro Trading Features

FunderPro Trading Features. This summary is updated; however, rules frequently change. Always confirm rules with your prop firm.
Trading Feature Value
💰 Fees:  FunderPro offers four tiers of funded account challenges: a $25K balance costs $250, a $50K balance costs $300, a $100K balance costs $550, and a $200K balance costs $995. Scaling plan up to $5 million.
🚀 Profit split:  The FunderPro funded account challenge pays out 80% of the profits.
✔️ Evaluation:  FunderPro’s flagship product is a two-step evaluation.
🎯 Profit Target:  10% for Stage 1 and 8% for Stage 2.
⚓ Maximum drawdown (MDD)​​:  10% maximum loss throughout the challenge. 8% maximum daily loss.
⌛ Trading Period​​:  Unlimited time to complete the challenge.
⚖️ Leverage:  The leverage in FunderPro’s challenge is 1:100
🔧 Instruments:  Forex, indices, commodities, cryptocurrencies and stocks.
📰 Allow Trade News:  No FunderPro does not allow news trading. You can close the trading before 2 minutes of high-impact news and re-open trading after 2 minutes.
🔄 Weekend Position:  No you cannot hold trades during weekend.
Read to find out about FunderPro Prop Trading Firm, How to Pass FunderPro Challenge, Discount coupons, funded Accounts fees and Much More

FunderPro Review and Analysis

Overview

Funderpro Firm Proprietary Trading Firm

The prop firm industry is growing bigger by the day, with platforms jostling to recruit traders to their ranks. In the midst of the bustle and noise, a new company has joined the arena: enter FunderPro. A firm that rewards talent with real money, allowing traders to open funded accounts upon completion of a market assessment. There is also the option to bypass the evaluation by paying a fee.

Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.

The core principle of FunderPro is to empower - not limit - traders. After all, any profits earned from the funded accounts are split between the platform and the trader, so it is in their interest to mentor and build up the account holders they bring on board. Award-winning prop trading firm FunderPro, alongside the other prop firms in the burgeoning industry, offers traders a unique opportunity: trade with tens or even hundreds of thousands of dollars with no personal risk and only gain. The losses are covered by the prop firm, while profits are shared with the trader.

In the case of FunderPro, any profits earned once the user upgrades to a funded account (or opens one straightaway, more on this in the next section) are split between the two parties with the trader keeping the vast majority (80%, upgradable to 90%). Prop firms like FunderPro are essentially filling a yawning crevice in the industry where many excellent traders are prevented from earning the profits they deserve by a lack of access to funds.

The benefits of prop firms do not end at opening the door to required capital. Trading with larger account sizes is a way to develop new skills and encourage professional development. Traders hitherto restricted by limited funds will find themselves able to try their hand at trading bigger positions, opening up the possibility of new strategies and approaches. Prop firms not only represent leverage but also the backing of powerful trading platforms often equipped with the latest software and analytics tools.

Traders can therefore monitor their performance and tweak their strategies or risk ratios accordingly. Moreover, certain firms will offer the support of teams to bolster development or mentorship programs. Finally, the risk controls in place - while sometimes deemed a hindrance to traders seeking absolute freedom - nonetheless represent a crucial opportunity to practice risk mitigation and control something which will be of lifetime benefit to traders of all ilk.

FunderPro finances traders who have demonstrated promising ability. Merit is judged not only on consistent profits but also on the capacity to manage risk. In return for a simple assessment, traders who pass the evaluation can trade without staking their own capital on the line.

Funded Accounts

Funderpro Firm Funded Account

The FunderPro package isn’t hugely dissimilar to some of the competitor prop firms but where they stand head and shoulders above the rest is with the trust they place in their traders.

Signing up for a FunderPro account guarantees you unlimited time to complete the trading challenge and minimal rules in which to do so. Judging from the package on the table, FunderPro appears to have understood one elemental rule of trading: patience is key.

FunderPro offers:

  • Innovative technology and powerful trading software
  • Swift two-part assessment leading to $200,000 in funding
  • Minimal rules, simple challenge & unlimited time for completion
  • Scaling plan & fast-track funding option
  • Data-driven analysis tools to help hone your strategy
  • Trading mentorship for your professional development
  • Easy withdrawal of funds with bi-weekly payouts
  • Discounts for retries

Challenge Overview

FunderPro Firm Challenge reviewHow to Pass the Funderpro Firm Challenge

Now you have a clear understanding of the whats and the whys of prop trading, let’s get under the bonnet of the FunderPro Challenge. Traders can sign up for the FunderPro Challenge, and if they pass the evaluation, they can go on to receive up to $200,000 in trading capital. FunderPro offers various account sizes, each of which has its price tag.

  • $25,000 ($250)
  • $50,000 ($300)
  • $100,000 ($550)
  • $200,000 ($995)

As you can see, for as little as $250 you could be trading with as much as $25,000 in your account. A trader looking for even greater account sizes could shoot for the $200,000 premium account. The FunderPro evaluation is relatively straightforward with a simple two-stage assessment. If you meet the 10% profit target in stage 1, and then the 8% in stage two, you will be funded. Your initial sign-up fee will be refunded to your account upon successful completion of the challenge. Here is how it works:

  • Step 1: Traders kickstart the challenge with a one-time fee. Demonstrate your trading skills and risk management. There is no deadline to complete the challenge, removing any time pressure. Traders who hit their targets in Stage 1 will proceed to Stage 2.
  • Step 2: Pass a second phase of the challenge and get rewarded with company capital. Profit is split 80/20 to the trader.

Pros and Cons

Before we delve into FunderPro’s particular Challenge, let’s take a step back and question the industry in general. What are Funded Accounts? The already lucrative forex industry is being reshaped by the increasing popularity of prop firms such as FunderPro. Why would traders choose to trade with a prop firm over using a personal account? One immediately obvious advantage to using a prop firm is that you can trade with their capital without risking your own.

The term “funded account” can refer to both demo accounts loaded with virtual money or a live account. In some instances, prop firms will allocate live accounts funded with real money. In the case of FunderPro, the latter is correct, they give their traders real capital with which to trade, even during the evaluation stage.

Let’s talk about the good stuff …

Advantage of funded trading

As aforementioned, the first and foremost reason traders will seek funding is due to a lack of capital. Not only do prop firms allocate large amounts of trading capital (sometimes up to one million dollars in funding) but they assume all risk of losses. The trader, on the other hand, will walk away with the bulk of the profits. Upgrading to such large account sizes not only means a potential vast uptake of profit but also an educational opportunity.

Traders can begin to experiment with bigger positions, new strategies, and so on. Moreover, many traders enjoy the environment of prop firms. There are often community-based initiatives for trading development, after all, it is in the interest of prop firms to help their traders excel and hit high and consistent profit targets. In the case of FunderPro, traders are brought into a community of funded traders and affiliates, with the company mission to empower their clients.

The shared profit scheme is a mutually beneficial reward scheme - after all, it’s a “win-win”! In the case of FunderPro, the platform offers the latest tools for data analytics and activity tracking to enable traders to assess their progress and help them grow. Trading in the absence of great personal risk is a double-edged sword; while traders can benefit from the freedom of opening positions, that may result in their account being terminated if a large percentage of the account size is lost.

On the other hand, however, some may find themselves trading with a false sense of security that will not translate to successful trading outside of a prop firm remit. This is one of the main reasons behind the risk control often embedded within funding challenges. FunderPro requires traders to curb excessive losses with daily and overall limits, thereby demonstrating an ability to recognize and manage risk.

Of course, one of the main and most attractive advantages of using a prop firm is the increase in potential profits. Take FunderPro for instance. With a $100,000 account, a trader hitting the target of 10% would generate $10,000 in profits. Even after FunderPro’s cut of 20% that still leaves $8,000 in the trader’s pocket. These profits have even greater allure given they can be obtained with no personal risk to the trader which takes much of the emotion and stress out of trading.

... and the bad

Disadvantages of funded trading

Prop firms have a reputation for imposing strict and numerous rules and restrictions on their users. Traders often feel weighed down and potential profits are curbed by excessive rules. One recent estimate put the number of traders who pass challenges as low as 4%, with only 1% of traders going on to obtain funded accounts.

The reason? The cap on trading time means many traders fall at the first hurdle, failing to complete the challenge within the time frame. Many prop firms allow only 30 days to complete the challenge, a mere 20 of which are trading days, and this number is further reduced when it comes to high-impact financial news to trade on.

In addition, many of the prop firms, including some of the biggest names, only offer demo accounts and therefore virtual money. This is not made immediately clear on their websites and many traders feel disillusioned at the idea of having thousands of dollars to trade with which is essentially the firm’s Monopoly money.

It must be pointed out that FunderPro is exempt from both of these critiques: FunderPro imposes no time restrictions on its traders. The chance for unlimited time to complete the challenge is truly rare in the prop firm industry and sets this platform leagues ahead of some of its competitors. There are fundamental rules (profit goals that vary according to account size, for example) but these are minimal and do not hamstring the account holders in any way. Funded challenge versus personal account Why not simply use a personal account instead of jumping through the hoops and running rings around the prop firm? All the profits could be taken home - withdrawn at will - and the trading style, profit targets, and entire trading approach would be free of oversight or reproach. You can make as many (or few) trades as you want. If you wish to throw caution to the winds and trade with a high-risk profile, that is your prerogative. You can grow your account size at will and scale or cut back as fast and often as you would like. The reason prop firms are so popular - a phenomenon that is only growing - is that it is often preferable to trade with someone else’s capital over your own, especially when funds are limited.

Financial speculation requires a certain level of risk, but it would be shortsighted in the least to risk all your capital and potentially have to start from zero should your trades not play out as you expect. Staking your funds on the line and assuming 100% of the risk of losses will inject stress and other emotions into your trading - and potentially negatively impact your performance.

FunderPro was set up to circumvent all of the above. The company gains by recruiting talented traders to earn profits for the firm, and in return, they cede a cut (80% in fact, upgradable to 90%). FunderPro states that its mission is to “empower” traders, and the reality is having a pool of account holders who can hit consistent profits within risk control will be enormously beneficial to the firm.

What Makes FunderPro Different than Other Prop Firms?

When it comes to funded accounts, traders have several choices. What makes FunderPro stand out above the others?

  • After passing the funded account challenge, it's funded with real money. When participating in a challenge or competition hosted by a Prop Trading Firm, it is common still to be on a simulated or demo account with virtual funds, rather than real money. Not on FunderPro. After passing you will be able to trade with real money and potentially earn real profits or losses.
  • You get the best trader support in the business. FunderPro is particularly proud of committing ample resources to ensure its clients stand to get the best possible customer support via phone, chat, or email, allowing all account holders easy access to a customer support agent, who will do their utmost to help them.
  • FunderPro program was built on minimal and simple rules . Other prop firms have complex rules designed to profit off of failed traders. FunderPro prides itself on the simplicity and clarity of the very few rules it applies.
  • There are no time limits on the challenge. FunderPro offers a complete absence of time limits and pressures on account holders, who can trade at the pace which best suits their preferences, skills set, and needs.

Evaluation Metrics

Overall metrics

    To truly evaluate what FunderPro Firm brings to the trading table, we decided to score each aspect of the FunderPro Firm Challenge individually.
  • Minimum Trading Days: Five trading days (these don’t have to be consecutive) with at least one trade on any given day.
  • Profit Targets: These vary according to the stage and are set as a percentage of the account size. 10% in Stage 1 which is reduced to 8% in Stage 2.
  • Trading Duration: No limitations on how long traders take to complete the Challenge.
  • Daily Loss Limit: Daily losses should not exceed 8% of the account size in question. For instance, a $100K account would have a daily loss limit of $8,000.
  • Overall Drawdown: Your maximum allowed loss should not exceed 10% of the current account size regardless of the stage. Traders with a $200,000 account should not run losses above $20,000.
  • Consistency Rule: The Consistency Rule states that no single-day profit should account for 60% or more of the total profit. This rule is only applied in Phase 2 of the Challenge and is required to maintain a steady flow of profits and safeguard against excessive risk.

Meet the CEO

Meet FunderPro CEO - Gary Mullen

Gary Mullen, the CEO of FunderPro, and his dedicated team have made significant strides in the proprietary trading firm industry. Their relentless efforts have led to the creation of a groundbreaking challenge that is poised to be “a game changer”.

By eliminating complicated trading rules and providing traders with unlimited time, FunderPro is transforming the trading landscape. With a focus on empowering traders and fostering growth, Gary aims to provide real value and opportunities for participants to showcase their skills and compete for capital gains. As an STP platform, FunderPro aligns its success with the success of traders. Under Gary's leadership, FunderPro is reshaping the prop trading landscape, offering a simpler and more rewarding trading experience for traders worldwide.

Prior to his role as CEO of FunderPro, Gary Mullen demonstrated his exceptional abilities as the Chief Commercial Officer of Red Acre Group. His strategic vision and expertise in commercial strategy, marketing, and sales played a pivotal role in driving remarkable revenue growth and expanding the company's market presence. Equipped with a wealth of experience and a proven track record, Gary brought invaluable insights and leadership to his position at FunderPro, setting the stage for continued success and innovation.

Frequently Asked Questions (FAQs):

What is FunderPro?
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro is a prop firm that was born out of the need to provide an opportunity for excellent traders that are prevented from earning the profits they deserve by a lack of access to funds.
Is FunderPro a legit or scam prop firm
FunderPro is legit and an excellent proprietary trading firm for forex traders. The FunderPro Challenge is a Swift two-part assessment leading to $200,000 in funding under Minimal rules and unlimited time for completion.
Who is the CEO of FunderPro
Gary Mullen is the CEO of FunderPro. Prior to his role as CEO of FunderPro, Gary Mullen demonstrated his exceptional abilities as the Chief Commercial Officer of Red Acre Group. His strategic vision and expertise in commercial strategy, marketing, and sales played a pivotal role in driving remarkable revenue growth and expanding the company's market presence.
How do I become a FunderPro Trader?
In order to become a FunderPro Trader, you will have to pass our 2-step Evaluation Process. If you meet the 10% profit target in stage 1, and then the 8% in stage two, you will be funded. Your initial sign-up fee will be refunded to your account upon successful completion of the challenge.
What account sizes does FunderPro offer?
FunderPro offers four account sizes each with its own price tag. Traders can choose to enter a Challenge for the following account sizes: $25K, $50K, $100K, and $200K. The prices are $250, $300, $550, and $995, respectively. The pricing is reasonable for the industry, with these challenge fees being below the industry standard.
Will I get the fee back if I pass the Challenge?
Yes. Traders who successfully pass the FunderPro evaluation will have the Challenge fee refunded to their account. Once traders have passed the two-stage Challenge, they will be funded with real capital and can begin trading straight away.
How do I enter the FunderPro Challenge?
Signing up for FunderPro is easy. Simply enter your details on the website and once you have signed up, you can access your dashboard. Login with your MT4 credentials and begin trading. Once you meet your profit targets and pass the Challenge, you will get funded.
What is the best prop firm?
FunderPro was recognized at the Q1 2023 Finance and Fintech Quarterly Awards by the International Business Magazine SBO as the Best Prop Trading Firm, as voted upon by thousands of traders. SBO is a trusted source for the world's financial sector and has built a reputation for objective and incisive reporting.
Why is FunderPro among the best Prop Trading solution you can find?
When it comes to funded accounts, traders have several choices. What makes FunderPro stand out above the others are the following
  1. When you graduate to a funded account, it's funded with real money.
  2. You get the best trader support in the business.
  3. FunderPro is built up on a couple of clear, easy-to-understand trading rules.
  4. There are no time limits on the Audition. You can take all the time that your strategy needs to be profitable.
How trusted is FunderPro?
The trusted source of information on fintech matters SBO, gave FunderPro a 4.75/ 5.00 rating based on analysing 20+ criteria and testing. FunderPro is currently in 1st place in this ranking.
What is the FunderPro fee?
FunderPro offers four tiers of funded account challenges: a $25K balance costs $250, a $50K balance costs $300, a $100K balance costs $550, and a $200K balance costs $995. Scaling plan up to $5 million.
Does FunderPro offer coupons for customers?
Yes, currently, there is one FunderPro discount coupon auto apply discount link available for customers.
How can I find FunderPro discount coupons and promo codes?
Visit the FunderPro dedicated discount coupons page as well as by joining several discussions and conversations within relevant online groups and communities.
What is the profit split for FunderPro?
The FunderPro funded account challenge pays out 80% of the profits.
What is FunderPro evaluation process?
FunderPro’s flagship product is a two-step evaluation.
How do I become an FunderPro Trader?
10% for Stage 1 and 8% for Stage 2.
What is an acceptable max drawdown for FunderPro?
10% maximum loss throughout the challenge. 8% maximum daily loss. Maximum Drawdown is the Distance between the highest and lowest points (maximum and minimum peak).
What is FunderPro Trading Duration / Time restriction?
Unlimited time to complete the challenge.
What is FunderPro leverage?
The leverage in FunderPro’s challenge is 1:100
What financial instruments can be traded at FunderPro?
Forex, indices, commodities, cryptocurrencies and stocks.
Can I trade news at FunderPro?
No FunderPro does not allow news trading. You can close the trading before 2 minutes of high-impact news and re-open trading after 2 minutes.
Can I hold trades overnight or over the weekend?
No you cannot hold trades during weekend.

Traders comments and Reviews about FUNDERPRO

Sites like Trustpilot provide excellent third-party social proof. Please be aware that there is no guarantee whether or not fake reviews are or are not present. These can lead to bias and compromise the reliability of reviews.
TrustPilot FunderPro TrustPilot Customer Reviews, Feedback and Complaints
Trustpilot On Trustpilot, FunderPro has currently 15 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 3.80/5.00.

FunderPro firm's reply behavior to negative reviews is up to the standard having replied to 100% negative reviews with a response time to their negative reviews in less than 1 days.

FunderPro  Read TrustPilot Customer Reviews, Feedback and Complaints

Latest News

funderpro default news image
FunderPro Announces $246,710 in Payouts for May!

FunderPro announces an impressive $246,710 in payouts to its traders for May! The consistent and substantial payouts not only demonstrate the profitability of FunderPro’s traders but also enhance the firm’s reputation in the community. As more traders seek platforms that offer significant capital and comprehensive support, FunderPro’s growing payouts are likely to attract even more talent.

Tuesday 11 June, 2024

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