Introduction
Elites Funding has emerged as one of the more talked-about proprietary trading firms, offering aspiring and active traders access to institutional-style capital without needing to risk their own money. In this full-length review, we’ll explore every facet of the platform—from how it works and what it charges to who it’s best for and where it might fall short.
What Is Elites Funding?
Elites Funding is a prop trading provider headquartered in Gibraltar, created to give traders access to funded accounts. Rather than relying on personal credit or capital, traders complete an evaluation process—either one or two steps—before moving onto live funded accounts. The firm supports MetaTrader 5 and its proprietary platform, TradeLocker, and accepts forex, indices, crypto and stock trading. Built around an “80 % profit share that can increase to 90 %”, the service is designed to scale traders over time.
Evaluation Process
Standard (Two-Step) Evaluation
- Phase 1 Target
- Achieve ~9–10 % profit on the challenge account
- Adhere to daily drawdown limits (~5 %) and total drawdown (~10 %)
- No time limit to meet the target
- Phase 2 Target
- Earn an additional ~5 %, again with drawdown constraints
- No time constraint
- Transition to live
- Upon completing both phases, you’re upgraded to a funded account
Express (One-Step) Evaluation
- Single combined challenge
- Higher profit target (~10 %)
- Tighter daily and total drawdown limits (~3–6 %)
- No time limit to complete
Fees vary by account size (from $99 for a $10k account to over $1 000 for $200k), refundable upon challenge completion and transition to funded status.
Trading Conditions and Platform
- Leverage: Up to 1:100 across instruments
- Platform support: MetaTrader 5 and TradeLocker
- News trading: Allowed in both evaluation and live account stages
- Overnight holds: Permitted, including weekends
- Instrument range: Forex, crypto, indices
These flexible parameters make Elites Funding a competitive choice—especially for swing or news-based traders—when compared to more restrictive firms.
Profit Sharing & Scaling
- Initial share: 80 % profit goes to the trader
- Scale bonus: Consistent success triggers an account scale and increases profit share to 90 %
- Payout frequency: Requests processed within ~14 days; typically once active account trades ≥10 days
- Scaling cap: Total funding unlockable up to ~$200k–300k
Fees & Refunds
- Evaluation fees depend on chosen account size and challenge type
- Fees are fully refundable once requirements are met in live trading
- Occasional promotional codes (e.g. LOCKER20) reduce evaluation cost
Risk Management Rules
Traders must respect the following:
- Daily drawdown limit (typically 5 %, or tighter in Express)
- Maximum total drawdown (~10 %)
- Violations result in challenge reset; loser evaluation fees are not refunded unless all conditions met
Verification & Withdrawals
- KYC: Traders must submit government ID and proof of address before live funding or withdrawals
- Withdrawals: Fund requests processed every ~14 days; payout methods include bank transfers and crypto (commonly USDT ERC20)
- Support: Live chat and email support, with responsiveness rated as fast and human-like
Positives
- High profit splits – up to 90 % while funded
- No time limits on evaluation or funded accounts
- Permits news and overnight trading
- Flexible scaling plans reward performance
- Clear fee refund policy tied to performance
Critiques & Concerns
- Relatively new entity – established in 2023, so still building long-term track record
- Occasional support delays – rare but noted by some users
- Payout delays – a small number of traders reported hold-ups beyond 14 days
- Drawdown rules – stringent loss limits may end challenge prematurely
Trader Feedback
- Trustpilot shows a robust 4.6/5 score across 300+ reviews, highlighting transparency, speed and helpful support
- Independent reviewers note occasional hiccups with payouts or support responsiveness
- Practical trader experiences: most funds arrive within two weeks with no hidden charges
Who Is It For?
- Swing & news traders: allowed to carry positions across sessions
- Traders seeking flexibility: no time pressure
- Performance-focused individuals: eager to scale and maximize profit share
- Risk-aware traders: disciplined users accustomed to drawdown limits
Who Might Want to Look Elsewhere?
- Scalpers or intraday-only traders due to drawdown and position rules
- Those preferring long-established firms—some may lean toward older competitors with deeper reputations
- Traders aiming for ultra-fast payouts—daily payout firms offer quicker cash-outs
Conclusion
Elites Funding offers a compelling package: generous profit splits, flexible trading conditions, and scalable capital—all wrapped in transparent terms and performance-linked fee refunds. While relatively new and occasionally hitting minor snags with support or payout timing, its growing base of satisfied traders suggests legitimacy. For those seeking a prop firm that allows news trading, overnight holds, and no rush on targets, it’s a strong contender. However, traders who prioritise guaranteed rapid payouts or those who require decades of company history may find older, more established alternatives more reassuring.
Final Verdict: For growth-minded swing and news traders, Elites Funding offers real opportunity—provided you’re disciplined, patient, and comfortable with its drawdown rules and the occasional delay.
