If you’re a trader looking for a prop trading firm to help you get started or take your trading to the next level, you may have come across FunderPro. FunderPro is a prop trading firm that offers traders the opportunity to trade with real funds and keep a large percentage of their profits. In this review, we’ll take a closer look at FunderPro and what they have to offer.
FunderPro has a unique approach to prop trading. They offer traders a three-phase evaluation process where traders need to reach a profit target of 10% in the first phase and 8% in the second phase without breaching any other rules. Once a trader has successfully completed the evaluation process, they become a certified FunderPro trader and can start trading with real funds. Traders can keep 80% of their profits and have the opportunity to scale their profits up to $5 million. FunderPro also offers a range of innovative trading features like TradeLocker, which includes hundreds of pre-built and custom technical indicators, a wide range of chart types, and much more.
Overall, FunderPro appears to be a legitimate and innovative prop trading firm with a unique approach to evaluating and funding traders. However, as with any prop trading firm, it’s important to carefully review the terms and conditions and make sure you understand the profit-sharing arrangement in place. Additionally, peer-reviewed prop firms with demonstrably satisfied funded traders are a good starting point.
Overview of Funderpro
Funderpro is a proprietary trading firm that provides funding to traders of all levels. The company offers an opportunity for traders to trade up to $200k of their funds and determine their success through a 2-step evaluation process. Funderpro’s CEO, Gary Mullen, leads the company with his vast experience in the financial industry.
As a prop firm, Funderpro provides traders with the necessary tools and resources to succeed in the trading world. The company’s trading platform, TradeLocker, is an all-in-one analytics solution that offers the most important prop trading features and statistics needed for trading success. Traders can showcase their success with an overview of Funderpro’s top 10 traders, their starting balance, cumulative profit & loss, their return, average winning trade, the number of trades, and a breakdown.
Funderpro’s evaluation process involves a combination of trading performance, risk management, and behavioral analysis. The company’s funding program is designed to help traders achieve their targets and start trading on a live STP account where they can keep 80% of the profits. Once traders prove their consistency, they receive a 50% increase every 3 months all the way up to $5 million.
Funderpro offers several trading platforms, including MetaTrader 4 and MetaTrader 5. These platforms are widely used in the trading world and provide traders with a user-friendly interface, advanced charting capabilities, and a wide range of trading tools. Funderpro traders can choose the platform that best suits their trading needs.
In summary, Funderpro is a reputable proprietary trading firm that provides funding to traders of all levels. The company’s evaluation process, trading platform, and funding program are designed to help traders succeed in the trading world. With Funderpro, traders have the opportunity to showcase their trading skills and achieve their financial goals.
Funderpro Evaluation Process
As a trader looking to join Funderpro’s funded trader program, you will have to pass a two-phase evaluation program. The first phase is the Evaluation Phase, where you will trade on a demo account and meet specific criteria. The second phase is the Challenge Phase, where you will trade on a live STP account and meet specific targets.
In the Evaluation Phase, you will have unlimited time to pass the set criteria. You can trade all your favorite assets with tighter spreads, but to pass this phase, you must meet the following criteria:
- 10% Profit Target
- Minimum Trading Days of 5
Once you meet these criteria, you will progress to the Challenge Phase, where you will trade on a live STP account. You will have a maximum of 60 days to meet the following targets:
- 5% Profit Target
- Maximum Daily Drawdown of 5%
It is important to note that during the Challenge Phase, you will have to follow the Consistency Rule. This rule states that you must achieve your profit target at least once every ten trading days. Failure to meet this rule will result in disqualification from the program.
Funderpro offers different account sizes for their funded traders, ranging from $25,000 to $200,000. The account size you receive will depend on your performance during the evaluation process. Once you receive a funded account, you will keep 80% of the profits you generate.
In conclusion, Funderpro’s evaluation process is a rigorous two-phase program designed to identify skilled and consistent traders. By following the set criteria and targets, you can progress to the Challenge Phase and receive a funded account to trade with.
Trading Conditions
FunderPro is a prop trading firm that offers a funded trader program to experienced traders who are looking to trade with real funds. As a trader with FunderPro, you will be subject to certain trading conditions that are designed to ensure that you are trading in a responsible and sustainable manner.
FunderPro has strict trading rules in place to prevent scammer trading. This means that you will need to follow their guidelines when it comes to trading strategies and risk management. For example, FunderPro does not allow news trading, as it can be very risky and lead to significant losses. Instead, they encourage traders to focus on setups that have a proven track record of success.
In terms of risk management, FunderPro implements a 5% daily drawdown and a 10% overall drawdown. This means that if you lose more than 5% of your account in a single day, you will need to stop trading until the next day. If your account balance drops below 10% of the starting capital, your trading account will be closed.
FunderPro offers a maximum daily loss of $1,500, which means that you cannot lose more than $1,500 in a single day. This is designed to protect traders from large losses that could wipe out their accounts.
FunderPro offers a maximum leverage of 1:100, which means that you can trade with up to 100 times your account balance. This can increase your potential profits, but it also increases your potential losses. Therefore, it is important to use leverage responsibly and to always have a solid risk management plan in place.
FunderPro uses an STP (Straight Through Processing) model, which means that trades are executed directly with liquidity providers without any intervention from a dealing desk. This ensures that traders get the best possible prices and that there is no conflict of interest between the trader and the broker.
In terms of market conditions, FunderPro offers trading on a wide range of instruments, including forex, commodities, and indices. They also offer a cutting-edge trading platform with charts powered by TradingView, which allows traders to take their trading experience to the next level.
Overall, FunderPro offers a solid set of trading conditions that are designed to protect traders from excessive risk while still allowing them to trade with real funds. If you are an experienced trader looking for a prop trading firm, FunderPro is definitely worth considering.
Funded Account Details
FunderPro offers funded accounts for traders who have completed the funded phase successfully. The funded account allows traders to trade with real funds and keep a portion of the profits they generate.
The funded account comes with a live STP/ECN account, which means that traders can access institutional-grade liquidity and execute trades with low latency and no requotes. The funded account is also subject to certain risk parameters, which may vary depending on the trader’s performance and trading style.
Traders who are approved for the funded account will receive real money to trade with, starting at $200,000. Traders can also scale up their account size by proving their consistency and receiving a 50% increase every 3 months, up to a maximum of $5 million.
The funded account also comes with a profit split of 80/20, which means that traders keep 80% of the profits they generate and FunderPro keeps 20%. Traders can request payouts for any profits they generate on a weekly basis, and FunderPro will process the payment in less than 24 hours.
It is important to note that the funded account is subject to certain rules and regulations, and traders must comply with them to maintain their account status. Traders must also continue to demonstrate consistency and discipline in their trading to remain in the funded account program.
Overall, the funded account program offered by FunderPro is a great opportunity for traders to trade with real funds and keep a portion of the profits they generate. With the live STP/ECN account, real money, and profit split, traders can access institutional-grade trading conditions and potentially scale up their account size over time.
Profit and Risk Management
As a trader, one of the most critical aspects of your trading strategy is profit and risk management. FunderPro offers a funded trader program that allows you to trade with real funds and keep up to 80% of the profits. However, to achieve this, you need to adhere to strict risk management rules and trading guidelines.
FunderPro’s profit targets during the evaluation period are designed to ensure that you can consistently generate profits before trading with real funds. Once you achieve your targets, you can start trading on a live STP account and keep up to 80% of the profits. Moreover, FunderPro’s scaling plan allows you to receive a 50% increase every three months, all the way up to $5 million, provided you can prove your consistency.
To ensure responsible and sustainable trading, FunderPro implements strict risk management rules. For example, the firm keeps a cut of the profits, and you need to adhere to strict stop-loss limits to avoid excessive losses. Additionally, FunderPro’s consistency rule is designed to ensure that traders build consistent profits and avoid the pitfalls of emotion-based trading. By keeping your most profitable day below 60% of your total profits, you can better balance your risk-reward ratio and develop a more sustainable trading strategy.
Overall, FunderPro’s funded trader program offers an excellent opportunity for traders to trade with real funds and keep up to 80% of the profits. However, to achieve this, you need to adhere to strict risk management rules and trading guidelines. By doing so, you can ensure responsible and sustainable trading and achieve consistent profits over the long term.
Assets and Trading Platforms
FunderPro offers a wide range of tradable assets, including forex, indices, stocks, commodities, cryptocurrencies, and metals. This diverse selection allows you to build a well-diversified portfolio that meets your investment objectives.
The trading platforms available on FunderPro are designed to meet the needs of both novice and experienced traders. TradeLocker is a cutting-edge trading platform with charts powered by TradingView, allowing users to take their trading experience to the next level. With TradeLocker, you do not need to download any application; all you must do is choose the challenge amount and purchase it. Once your payment has been fully completed, you will receive your account information and can start trading immediately.
FunderPro’s native trading platform, TradeLocker, emerges as a standout choice for prop traders in 2023 as it meets the needs of both experienced and novice market participants. It natively integrates the power of TradingView’s advanced charting capabilities and offers a wide range of technical indicators and drawing tools. Additionally, TradeLocker is accessible from any device with an internet connection, making it convenient and easy to use.
FunderPro also offers a variety of brokers to choose from, each with their own unique features and benefits. Whether you’re looking for low spreads, high leverage, or a user-friendly interface, FunderPro has a broker that will meet your needs. The offered technical solution for the FUNDERPRO platforms and data feed is powered by Integral, a leading provider of FX technology solutions.
Overall, FunderPro provides a comprehensive trading experience with a wide range of assets and trading platforms to choose from. Whether you’re a novice or an experienced trader, FunderPro has everything you need to succeed in the dynamic world of proprietary trading.
Support and Community
FunderPro offers excellent support and community features to help traders succeed. The support team is available 24/7 to answer any queries or enquiries you may have. You can contact them via email or live chat, and they will respond promptly to your requests.
In addition to the support team, FunderPro has an active Discord community where traders can interact with each other, exchange trading tips, and stay abreast of market trends. The community is a great place to get feedback on your trades and to ask questions. The prop firm community can also mentor new traders and provide the emotional support and motivation often missing in a high-pressure trading environment.
However, it is important to note that FunderPro has strict rules for its Discord community, and traders who violate these rules may face a Discord ban. The rules are in place to ensure that the community remains a safe and respectful space for all traders.
Overall, FunderPro’s support and community features are top-notch, and they provide traders with the resources they need to succeed in the world of funded trading.
Fees and Payments
When it comes to fees and payments, FunderPro offers transparent and straightforward terms. The company charges a one-time evaluation fee for traders to qualify for a funded account. The evaluation fee varies depending on the account size, with the smallest account requiring a fee of $249, and the largest account requiring a fee of $1,999.
Once you have passed the evaluation, you will receive a real capital trading account and can start trading immediately. FunderPro does not charge any ongoing fees for the use of the account, and there are no monthly subscription fees or hidden charges.
Regarding payments, FunderPro accepts payments via all major credit cards and cryptocurrencies. The company also offers a discount code for traders who are referred by an existing member. The discount code provides a $50 discount on the evaluation fee.
Traders who qualify for a funded account can receive daily payouts or weekly payouts, depending on their preference. The payouts are made directly to the trader’s bank account or cryptocurrency wallet.
Overall, FunderPro provides a smooth and hassle-free payment experience for its traders. The company’s transparent fee structure and flexible payout options make it an attractive option for traders looking to grow their trading capital.
Criticisms and Issues
While FunderPro provides a unique opportunity for traders to prove their profitability and earn a share of the profits they generate, there are some criticisms and issues to be aware of before joining a prop firm.
One of the main criticisms of prop firms is that they can be seen as a form of gambling, as traders are essentially using the firm’s capital to take on risky trades. This can lead to high levels of stress and anxiety, as traders are constantly under pressure to perform and generate profits.
Another issue to be aware of is the potential for technical issues or glitches in the trading platform. While FunderPro has a reputation for providing a reliable and user-friendly platform, there is always the risk of technical issues that can impact your trading performance.
In addition, some traders have reported experiencing slippage or news spikes that have resulted in unexpected losses. While these issues are not unique to FunderPro, it is important to be aware of the risks involved in trading and to take steps to minimize your exposure to potential losses.
Finally, it is important to be aware of the potential for gaslighting or other forms of psychological manipulation within the trading community. While FunderPro has a strong community of traders who are supportive and encouraging, there are always risks associated with interacting with others online.
Overall, while FunderPro provides a unique opportunity for traders to prove their profitability and earn a share of the profits they generate, it is important to be aware of the risks and issues involved in trading with a prop firm. By staying informed and taking steps to minimize your exposure to potential losses, you can increase your chances of success in the financial markets.
Conclusion and Final Thoughts
In conclusion, FunderPro is a reputable proprietary trading firm that offers a unique opportunity for traders to showcase their skills and earn a share of the profits. With a track record of success and a focus on trading conditions that prioritize risk management, FunderPro provides a solid platform for traders of all levels to succeed.
One of the main pros of FunderPro is its MFF (Maximum Funding Formula), which allows traders to scale up their accounts to as much as $5 million. This provides traders with the opportunity to earn significant profits while also managing their risk effectively.
FunderPro’s reputation within the trading community is also a positive factor to consider. The firm has a track record of success and has been featured in various publications for its innovative approach to proprietary trading.
When it comes to trading conditions, FunderPro prioritizes risk management and provides traders with access to advanced trading tools and resources. This helps traders to make informed decisions and maximize their profits while minimizing their total loss.
In terms of counter-parties, FunderPro works with top-tier liquidity providers to ensure that traders have access to the best possible spreads. This helps to minimize trading costs and maximize profits.
Overall, if you’re a trader looking for a reputable proprietary trading firm with a focus on risk management and a track record of success, FunderPro is definitely worth considering. If you have any questions about the firm or its trading conditions, be sure to check out the FAQ section on their website for more information.