IC Funded Review
IC Funded is a proprietary trading firm offering evaluation programs for traders to access substantial capital. They provide a two-phase evaluation process, multiple trading platforms, and a scaling plan for successful traders.
IC Funded Review
Summary
IC Funded is a proprietary trading firm operating under the umbrella of the renowned broker IC Markets. It is making a significant impact on the proprietary trading sector by empowering traders to manage substantial capital without putting their own money at risk.
The firm provides a range of evaluation programs designed to assess traders’ skills and aptitude, ensuring they meet the necessary standards for capital allocation. This program offers the potential for profit sharing, allowing successful traders to earn a significant portion of the profits generated from their trading activities.
In addition to its evaluation programs, IC Funded enhances the trading experience with comprehensive features. The firm offers a user-friendly dashboard that allows traders to manage their accounts and track their performance efficiently. Moreover, traders can utilize popular platforms such as MetaTrader 4 and MetaTrader 5 with a maximum leverage of 1:50 to facilitate diverse trading needs. These features streamline the trading process and empower traders to make informed decisions.
Furthermore, IC Funded is dedicated to providing support to its traders. The firm offers responsive customer service, ensuring that traders receive timely assistance whenever needed. Additionally, IC Funded maintains a detailed knowledge base that includes educational resources and trading guides. The educational content covers various aspects of trading, such as technical analysis, fundamental analysis, risk management, trading psychology, and market insights. This support structure enables traders to refine their skills, expand their knowledge, and effectively navigate the challenges of the financial markets.
In this article, we will explore IC Funded’s features, benefits, and considerations, providing a comprehensive review of this platform.
IC Funded Review
Programs
IC Funded offers a structured evaluation program designed to assess traders’ skills and provide them with access to substantial trading capital. The program consists of two phases, each with specific profit targets and risk management rules. Traders can choose from evaluation plans with account sizes ranging from $5,000 to $500,000, with fees starting at $49.
During the evaluation, traders operate in a simulated trading environment using demo accounts. They are required to demonstrate proficiency in risk management, strategy implementation, and consistency in achieving profit targets. The evaluation process includes a minimum trading requirement of five separate trades to progress through the phases.
Phase 1 requires traders to achieve a 10% profit target within a set timeframe while adhering to a 5% maximum daily loss and a 10% overall drawdown limit. Phase 2 has a lower profit target of 5% but maintains the same risk parameters.
Upon successful completion of the evaluation, traders gain access to funded accounts and can participate in a gain share arrangement, earning a percentage of the profits they generate. It’s important to note that all accounts provided by IC Funded to their clients are demo accounts with virtual funds, and all trading activities occur in a simulated environment. Overall, IC Funded’s programs are designed to evaluate and support traders in their journey to becoming successful funded traders.
IC Funded Review
Conditions
IC Funded has a set of conditions that traders must adhere to during the evaluation process and while trading with funded accounts. These conditions are designed to ensure responsible trading practices and protect both the trader and the firm. Here’s an overview of the key conditions that traders need to be aware of:
Drawdowns
IC Funded enforces a strict drawdown policy to ensure traders manage risk effectively. Traders must adhere to a 5% daily loss limit and a 10% overall drawdown limit. This means that on any given day, a trader cannot lose more than 5% of their account balance, and overall losses must not exceed 10% of the account balance during the evaluation.
Trading Days
To progress through the evaluation phases, traders are required to trade for a minimum of 5 days. This ensures that traders demonstrate consistency and commitment to the evaluation process. Additionally, traders must execute at least five trades during this period, which helps in assessing their ability to maintain performance over time.
Trading Strategies
IC Funded allows a variety of trading strategies, giving traders the flexibility to use their preferred methods. However, certain activities, such as high-frequency trading (HFT) and copy trading across multiple accounts, are prohibited. This ensures that all trading activities are fair and within the firm’s guidelines.
Scaling Plan
Successful traders can scale their accounts up to a maximum allocation of $500,000. This scaling plan allows traders to gradually increase their trading capital as they demonstrate consistent performance and risk management skills. The scaling is contingent on meeting specific performance criteria, which encourages traders to maintain high standards.
Refund Policy
The evaluation fee is refundable upon successful completion of the evaluation process. Traders who pass the two-step evaluation are eligible to receive a refund of the fee upon their first withdrawal from the funded account. This policy incentivizes traders to focus on achieving profitability and maintaining good trading practices.
IC Funded Review
Features
| Maximum capital | $500,000 |
| Profit split | Up to 80% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | No |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:50 |
IC Funded offers a variety of features designed to support traders in their journey to access funded accounts and enhance their trading skills. Here’s a detailed look at the key features, with relevant facts included:
Dashboard
IC Funded provides a clean, user-friendly trading dashboard that helps traders manage their accounts efficiently. The dashboard allows traders to track their performance metrics, monitor account balances, view open positions, and analyze trading history. This centralized platform provides traders with a comprehensive view of their trading activity, enabling them to make informed decisions quickly.
Platforms Offered
IC Funded offers several advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
These platforms are renowned for their robust analytical tools, customizable interfaces, and high-speed execution capabilities. MT4 and MT5 are popular for forex and CFD trading, offering features like automated trading through Expert Advisors (EAs). cTrader is known for its advanced charting tools and depth of market (DOM) features, providing traders with a professional-grade trading experience.
Support Offered
IC Funded is committed to providing excellent support to its traders. The firm offers responsive customer service through multiple channels, including email and live chat, ensuring that traders can get assistance whenever needed. The support team is knowledgeable and equipped to handle technical issues, account inquiries, and general questions about the trading process.
Knowledge Base
IC Funded offers a comprehensive knowledge base that includes educational resources and trading guides. This resource covers a wide range of topics, such as
- Trading strategies
- Risk management
- Market analysis
- Platform tutorials.
The knowledge base is designed to help traders enhance their skills and stay informed about market developments, making it a valuable tool for both beginners and experienced traders.
Trading Instruments
IC Funded provides access to a diverse asset pool, encompassing over 150 instruments. These include major, minor, and exotic currency pairs, popular cryptocurrencies like Bitcoin and Ethereum, commodities such as oil and precious metals, and global indices. This variety allows traders to diversify their portfolios and explore different markets, catering to various trading strategies and preferences.
IC Funded Review
Conclusion
IC Funded offers a solid platform for traders to scale up their game with access to significant capital, various evaluation programs, and advanced trading platforms. The user-friendly dashboard and comprehensive knowledge base are great for tracking trades and brushing up on skills. However, keep an eye on the 5% daily and 10% overall drawdown limits and manage your risk wisely. With flexible trading strategies and supportive customer service, IC Funded is a promising opportunity for traders to grow their accounts with prop firm backing, as long as you stay disciplined and manage your risks.
IC Funded Review
