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|💰 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 100:1.|
|🔧 Instruments:||Forex, indices, commodities, cryptocurrencies and stocks.|
|📰 Allow Trade News:||Yes in FunderPro Challenge and Verification.|
|🔄 Weekend Position:||Yes in FunderPro Challenge and Verification.|
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 through paying a fee.
Founded in Dubai 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. 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.
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 Firm Challenge review
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.
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:
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.
When it comes to funded accounts, traders have several choices. What makes FunderPro stand out above the others?
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