FX Expert Funded Review
FX Expert Funding is a forex proprietary trading firm that offers funded forex accounts from $2,000 to $100,000 without any challenges required and a 50% profit share.
FX Expert Funding is a forex funding programme who want to assist all traders who lack the necessary capital to trade, providing funded accounts ranging from $2,000 to $100,000. If approved, prop traders can get a 50/50 profit split and have no liability for losses. You can get a greater profit share of 90% with other leading prop firms including FTMO.
FX Expert Funded want you to prove your trading talent to them and demonstrate that you have a winning trading strategy in order to get a funded account. You will need to reach the objectives that they set whilst sticking to the rules. There is a 5% profit target needed to request a withdrawal which is quite low. However, the maximum drawdown of 10% means that traders need to utilise sensible money management to avoid their account breaching the rules.
| Account Size | % | $25000 | $50000 |
|---|---|---|---|
| Withdrawal Target | 5% | $1250 | $2500 |
| Maximum Lots | – | 0.50-0.70 | 1.00-1.50 |
| Maximum Loss | 10% | $2500 | $5000 |
| Account Growth | 10% | – | Up to 1 Million |
| Trading Hours | – | 6am – 9pm | 24 Hours |
| Profit Share | 50% | 50/50 | 50/50 |
You can choose from the normal account ($2,000 to $50,000) and the low risk account ($10,000 to $100,000). The normal account is more flexible in terms of what is allowed when compared to the low risk account. The account type that you opt for is going to depend on your preferred trading style. For example, expert advisors are only allowed on the normal account.
There are some trading terms and conditions that prop traders must follow in order to qualify with this prop firm. If any of the rules are breached, this can lead to the account being cancelled. There are some significant limitations with this prop firm including no news trading, no weekend holding, a stop loss required on every trade and more. Automated trading and copy trading is not allowed on the low risk account. These are some of the most stringent rules and not as lenient as other prop firms including Finotive Funding.
These trading rules and targets include:
- Profit Target 10% in 90 Days
- Maximum Drawdown 10%
- Daily Drawdown 5%
- Stop Loss Required on Every Trade
- Trade At Least Once Per 30 Days
- Maximum Leverage 1:30
Scaling Plan
As with most proprietary trading firms, there is a scaling plan that means you can trade with a larger amount of capital and greater lot sizes as the account grows. The profit share remains the same throughout as does the profit target and maximum loss allowed.
| Growth Program Steps | Initial Capital | 10 % Profit Target | 10% Max Loss | Lot Size | 50% Trader Profit |
|---|---|---|---|---|---|
| Funded Trader Step 1 | $15,000 | $1,500 | $1500 | 0.50 | $750 |
| Funded Trader Step 2 | $30,000 | $3,000 | $3,000 | 1.00 | $1,500 |
| Funded Trader Step 3 | $60,000 | $6,000 | $6,000 | 2.00 | $3,000 |
| Funded Trader Step 4 | $120,000 | $12,000 | $12,000 | 4.00 | $6,000 |
| Funded Trader Step 5 | $240,000 | $24,000 | $24,000 | 8.00 | $12,000 |
| Funded Trader Step 6 | $480,000 | $48,000 | $48,000 | 16.00 | $24,000 |
Platforms
You can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are the industry standard forex trading platforms that are used by millions of retail forex traders around the globe. Whatever your trading style, you can trade manually and run automated trading strategies in MetaTrader. There are plenty of free and paid trading tools to analyse the FX market and make informed trade decisions.
On some of the funded accounts, the professional cTrader platform is also available. cTrader is a leading multi-asset Forex and CFD trading platform, offering rich charting tools, advanced order types, level II pricing, and fast entry and execution. With a stunning user interface, it’s connected to the most sophisticated backend technology, and made available on multiple devices.
Instruments
The FX Expert Funded prop firm allow users to trade forex with a wide range of major, minor and exotic currency pairs to choose from. They also allow gold trading. Leverage goes up to 1:30 which is not as high as some other prop firms.
Forex Courses
FX Expert Funded have a range of forex trading courses for traders to expand their market knowledge and trading skills. From the fundamentals of technical analysis to trading psychology, they cover all of the crucial topics in the forex trading. You can even schedule a live session. Courses start at $199 per year and go all the way up to $999 for the full package.
These courses will introduce you to the foreign exchange market and forex trading, as well as some of the participants’ motivations. Also, you’ll learn about the complexity of various trading products and some of the risks that investors frequently encounter.
They will also go over how to use margin in your account, show you how to trade on the currency market with the help of a case study, and walk you through placing an international trade using an online trading platform.
You should have a thorough understanding of the foreign exchange market, be able to identify certain key currency products, and possess some practical abilities that will enable you to jump in and conduct trades on your own by the end of this course.
Competitions
A $15,000 one-time challenge account will be given away to the winners of the learning and trading competition that FX Expert Funding are running. This can be a way to get a free funded account if you think you have what it takes to win any of the competitions.
| Maximum capital | $100,000 |
| Profit split | 50% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:30 |
Overall, FX Expert Funded have a competitive prop trading service according to the information they have provided on their website. The 50% profit spilt is below the industry average but you can trade a great selection of currency pairs along with gold on the MetaTrader and cTrader platforms. The trading rules are quite strict on the low risk account but more flexible on the normal account. Profit targets are achievable and maximum drawdown around the industry average. They also have some educational resources to help educate traders. On the other hand, there isn’t much information available from existing users and the online reviews are mixed at the time of writing this review.
