FundedProTrader Review
FundedProTrader is a Dubai-based prop trading firm that offers traders the opportunity to access funded accounts up to $200,000 through a two-step evaluation process. They provide a generous 90% profit split, zero commissions, and access to the MetaTrader 5 platform.
FundedProTrader Review
Summary
FundedProTrader is a leading prop trading firm based in Dubai, UAE, dedicated to providing exceptional opportunities and resources for traders worldwide. With a commitment to integrity, ethics, and innovation, FPT aims to revolutionize the trading experience through cutting-edge strategies and unwavering support.
The firm offers a two-step evaluation process, allowing traders to access funded accounts of up to $200,000 upon achieving a 10% profit target. Successful traders enjoy a generous 90% profit split and can trade various instruments, including Forex, Indices, and Commodities, on the advanced MetaTrader 5 platform.
FPT stands out with its zero-commission policy, allowance for news trading, and weekend position holding. The firm emphasizes trader education through its comprehensive Learning Hub and provides over 40 daily trade ideas to support traders’ decision-making processes.
FundedProTrader offers a user-friendly dashboard that provides traders with access to various metrics, trading tools, and detailed account history. The firm also prioritizes compliance with regulations and maintains a client-broker relationship with ECG Broker. The company offers bi-monthly payouts, commission-free trading, and round-the-clock customer support to assist traders in their journey.
Let’s examine the prop firm’s features, programs, and conditions in more detail to better understand what FundedProTrader has to offer.
FundedProTrader Review
Programs
FundedProTrader offers a comprehensive Two-Step Evaluation Program designed to assess and reward skilled traders. This program consists of two phases, each with specific requirements and targets.
They offer a range of account sizes to suit different trader preferences and experience levels:
- Starter ($10,000), priced at $79.
- Standard ($25,000), priced at $189.
- Professional ($50,000), priced at $299.
- Advanced ($100,000), priced at $499.
- Expert ($200,000), priced at $979.
In Phase 1, traders are challenged to achieve an 8% profit target within a maximum drawdown limit of 10% and a daily drawdown limit of 5%. Traders must complete a minimum of 5 trading days during this phase. The evaluation provides access to a wide range of products, including Forex, Indices, and Commodities, with leverage of 1:100. Notably, no commissions are charged during this phase. Phase 2 maintains the same drawdown limits as Phase 1 but reduces the profit target to 5%. This phase also requires a minimum of 5 trading days. After successfully completing both phases, traders are rewarded with a funded account offering a generous 90% profit split. The program allows for refunded fees, adding an extra incentive for participants.
FundedProTrader Review
Conditions
FundedProTrader sets clear guidelines for traders to ensure a fair and transparent trading environment. Let’s dive into the specific conditions that traders need to follow.
Drawdowns
FundedProTrader implements strict drawdown rules to manage risk effectively. The maximum drawdown limit is set at 10% of the initial account balance, which means traders must be cautious not to let their losses exceed this threshold. Additionally, there’s a daily drawdown limit of 5%, encouraging traders to maintain consistent performance and avoid significant daily losses.
Payouts
FundedProTrader offers an attractive profit split for successful traders, with 90% of profits going to the trader. The firm emphasizes quick payout processing, ensuring that traders can access their earnings promptly. For the initial withdrawal, traders are required to cover the challenge fee first. After that, subsequent withdrawals have a minimum amount of $100. This bimonthly payment structure allows traders to recoup their initial investment before accessing additional profits.
Trading Days
FundedProTrader requires a minimum of 5 trading days during each phase of their evaluation process. This requirement is designed to ensure that traders demonstrate consistency and the ability to perform over a period of time, rather than relying on a few lucky trades. The firm doesn’t specify a maximum time limit, giving traders the flexibility to complete the challenge at their own pace within the given timeframe.
Trading Strategies
FundedProTrader allows various trading strategies, including news trading and holding positions over weekends. These flexible conditions give traders more options in their approach. However, the firm also imposes specific restrictions to ensure fair and responsible trading. Grid trading, Copy trading, hedge trading, martingale strategies, and hedging across single or multiple accounts are not permitted. The use of Expert Advisors (EAs) is also not allowed, including those with virtual or hidden stop loss and take profit levels. While FundedProTrader accepts a high frequency of trades, traders must adhere to the minimum trade duration rule of three minutes.
Leverage and Margin Requirements
FundedProTrader offers regular leverage of 1:100, which is subject to modification during periods of market volatility. Traders must ensure sufficient funds to meet the margin requirements for their trades. It’s crucial to manage leverage responsibly and avoid overexposure to risk.
Commission-Free Trading
Another unique aspect of FPT is their commission-free trading policy. Traders can execute their trades without incurring any additional fees or commissions, which can help maximize their overall profitability.
Refund
FundedProTrader fees are fully refunded, which is a positive aspect of their program. This policy applies to the evaluation fees paid by traders who successfully complete the challenge and move on to funded accounts.
Trade Size Consistency
FundedProTrader enforces a trade size consistency rule to ensure fair evaluation of traders’ strategies. Throughout each phase of the challenge, traders must maintain consistency in their trade sizes. The smallest trade executed must be at least 65% of the notional size of the largest trade in that phase. This rule applies across all asset classes, requiring traders to carefully consider their position sizing when trading different instruments. By implementing this condition, FPT can effectively analyze a trader’s strategy over the minimum 5-day trading period, ensuring that performance is based on consistent trading behavior rather than sporadic large trades.
FundedProTrader Review
Features
| Maximum capital | $200,000 |
| Profit split | Up to 90% |
| Scaling | No |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | No |
| Free trial | No |
| Maximum leverage | 1:100 |
FundedProTrader offers a range of features designed to support traders on their journey to success. Let’s examine what they offer.
Platforms Offered
FundedProTrader provides traders with access to the industry-standard MetaTrader 5 (MT5) platform. MT5 is renowned for its advanced charting capabilities, extensive range of technical indicators, and user-friendly interface. This powerful platform supports various trading styles and strategies, offering multiple timeframes for in-depth market analysis.
The MT5 platform also provides real-time market data and news feeds, enabling traders to stay informed about market events. The platform’s compatibility with desktop, web, and mobile devices ensures that traders can manage their positions and monitor markets from anywhere, at any time.
Dashboard
FundedProTrader provides traders with a user-friendly dashboard that serves as a central hub for managing their trading activities. This intuitive interface allows traders to easily track their performance, view account statistics, and access important information about their challenges or funded accounts.
The dashboard includes real-time updates on profit and loss, drawdown levels, and other key metrics that help traders stay on top of their trading progress. It’s designed to give traders a clear overview of their status and help them make informed decisions about their trading strategies.
Support Offered
FundedProTrader provides email support to assist traders with any questions or concerns they may have. Traders can reach out to the support team by sending an email to the designated support email address. FundedProTrader’s email support is an essential resource for traders seeking guidance or clarification on the firm’s policies, platform, or general trading matters.
Knowledge Base
FundedProTrader takes trader education seriously. On its website, it offers an Academy and a Learning Hub, providing resources for traders to improve their skills and knowledge. These educational materials likely cover various aspects of trading, from basic concepts to advanced strategies, helping traders at all levels enhance their performance. It also has an FAQ section that covers many common queries.
Broker Integration
The prop firm works with ECG Broker for their trading operations. This integration ensures that traders have access to competitive spreads and reliable trade execution. FundedProTrader mentions that there are no additional fees for data and no trading commissions to be paid, which is a plus for traders looking to maximize their profits.
Affiliate Program
For those interested in more than just trading, FundedProTrader offers an affiliate program. Partners can earn a 20% commission by promoting the prop firm. This program could be an attractive option for traders or influencers looking to diversify their income streams within the trading industry.
Traders Portal and Advanced Trading Tools
FundedProTrader provides traders access to their proprietary trading platform, the FundedProTrader Portal. This platform offers a user-friendly dashboard allowing traders access to various metrics, trading tools, and detailed account history.
The portal includes signals, calendars, currency strength indicators, and heat maps, which can help traders make informed decisions and improve their performance.
FundedProTrader Review
Conclusion
FundedProTrader brings a lot to the table with its MT5 platform, advanced tools, and generous 90% profit split. The no-commission policy and flexible trading conditions are definite pluses. Their educational resources and daily trade ideas show they’re invested in trader success. However, keep an eye on those strict drawdown rules – they protect the firm but can be challenging for some traders. If you’re looking for a prop firm with solid features and support, FundedProTrader is worth checking out.
FundedProTrader Review
