Monevis Funding Review
Monevis Funding is a proprietary trading firm that offers traders access to virtual capital up to $200,000 through a two-phase evaluation process. The firm utilizes MetaTrader 5 platform and provides raw spreads connected to Tier-1 liquidity providers.
Monevis Funding Review
Summary
Monevis Funding is an innovative proprietary trading firm that offers traders a unique opportunity to trade with the company’s capital and earn a significant portion of the profits. Led by CEO Miloš Mošovský, Monevis operates from its headquarters in the Seychelles, providing a cutting-edge trading environment for aspiring and experienced traders alike.
One of the key highlights of Monevis is its generous profit split, which starts at 75% and can be upgraded to 85% or even 90%. This high profit-sharing model incentivizes traders to perform well and rewards their success. The firm operates on a two-phase challenge system, with Phase 1 requiring a 10% profit target and Phase 2 aiming for a 5% profit target. Notably, there is no time limit for completing these phases, allowing traders to progress at their own pace.
Monevis utilizes the popular MetaTrader 5 (MT5) platform, providing traders with advanced charting tools and a wide range of tradable instruments including forex, commodities, indices, and cryptocurrencies. The firm holds its own MetaQuotes license, ensuring direct support and customization options for their traders. This setup, combined with their connection to raw spreads from Tier-1 liquidity providers, offers traders a secure and efficient trading environment.
The firm’s trading conditions are designed to accommodate various trading styles. Monevis allows strategies such as scalping, news trading, and the use of Expert Advisors (EAs). However, it’s important to note that while EAs are permitted, all trades must be placed manually. The maximum leverage offered is 1:100, and all accounts are swap-free, which can be advantageous for traders holding positions overnight.
Monevis also offers unique features like a 14-day free trial, allowing potential traders to test the platform and trading conditions risk-free. The firm provides a user-friendly dashboard for easy account management and performance tracking. Payouts are processed bi-weekly, with the first payout available after the first 30 days of trading.
While Monevis offers many attractive features, it’s crucial for traders to be aware of and adhere to the firm’s rules and conditions. Let’s examine the prop’s features, trading conditions, and evaluation process to gain a more comprehensive understanding of what Monevis Funding has to offer.
Monevis Funding Review
Programs
Monevis Funding offers a comprehensive 2-step evaluation challenge for traders seeking to secure funding and manage a Monevis account. This program is designed to assess trading skills and discipline, providing a clear path to handling larger capital. Traders can choose from various account sizes, ranging from $10,000 to $200,000, with the $100,000 option being the most popular.
The challenge comes with no time limits, allowing traders to progress at their own pace, although a minimum of 5 trading days is required. To successfully complete the challenge, traders must achieve a 10% profit target in Phase 1 and a 5% profit target in Phase 2, while adhering to a maximum daily drawdown of 5% and a total drawdown limit of 10%, both calculated using a static method. The program offers flexible trading conditions, with no swaps, and allows the use of expert advisors, news trading, and weekend position holding. The entry fee for the challenge varies based on the chosen account size, ranging from $80 to $1167, making it accessible to traders with different budgets and trading styles.
Monevis Funding Review
Conditions
Monevis Funding has specific conditions that traders must adhere to in order to participate in their programs. Let’s examine the conditions that traders must meet to succeed with Monevis Funding.
Drawdowns
Monevis Funding enforces strict drawdown rules to ensure traders maintain effective risk management. The maximum daily drawdown is set at 5% of the account balance, meaning traders cannot lose more than this percentage in a single day. Additionally, the maximum total drawdown is capped at 10% of the initial balance. This drawdown is calculated using a static method, which is based on the initial balance, providing a clear framework for traders to manage their risks effectively throughout the challenge.
Payouts
Monevis Funding offers a competitive profit split of 75%, with an option to upgrade to 85%. Payouts are processed bi-weekly, with the first withdrawal available 14 days after the initial trade on the live account. Subsequent payouts can be requested every 14 days. Riseworks is the primary payout method, and traders must complete KYC processes with both Monevis and Riseworks. A 7-day payouts addon is available for more frequent withdrawals. Traders need to use their Dashboard to request payouts, select Riseworks as the withdrawal method, and specify the amount. There’s a minimum withdrawal amount, and some countries are not supported by Rise for payouts.
Trading Days
Monevis Funding has a specific requirement for minimum trading days in their challenge program. Every Monevis challenge requires traders to complete a minimum of 5 trading days before they can progress. A trading day is defined as a day during which a trader opens at least one trade. This rule is designed to ensure that traders demonstrate consistent activity and avoid relying on a single large trade or a short burst of trading. The minimum trading days requirement helps Monevis assess a trader’s ability to engage in the markets regularly and manage their positions over time. It’s important to note that these trading days don’t have to be consecutive, allowing traders some flexibility in their approach while still ensuring they meet the minimum activity requirement.
Trading Strategies
Monevis Funding’s trading rules provide a flexible yet controlled environment for traders. Copy trading is allowed but restricted to the same types of accounts to ensure independent performance. The Martingale strategy is permitted, though traders are advised to use it cautiously due to its inherent risks. Account merging is not allowed, maintaining the integrity of each individual account. While stop losses are not mandatory, they are strongly recommended as a risk management tool. Scalping is permitted without restrictions on trade duration or frequency, and news trading is also allowed, with traders accepting the risk of wider spreads during high-volatility events. High-frequency trading, however, is prohibited to ensure fairness among traders. Additionally, Monevis allows traders to hold positions over the weekend, providing the flexibility needed for longer-term strategies. These rules reflect Monevis’s commitment to supporting diverse trading styles while ensuring responsible trading practices.
Scaling Plan
Monevis Funding offers an impressive scaling plan that allows traders to grow their accounts up to $2,000,000. To be eligible for scaling, traders must achieve 4 successful payouts, each exceeding 5% of cumulated profit per month. Once these conditions are met, the account balance is increased by 25% of the initial balance. Traders who purchase the 7-day payouts add-on can scale up monthly, while others can scale up every two months. This system rewards consistent performance and provides a clear path for account growth, encouraging traders to maintain profitability over the long term.
Monevis Funding Review
Features
| Maximum capital | $200,000 |
| Profit split | Up to 90% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | Yes |
| Maximum leverage | 1:100 |
Monevis Funding provides a range of features that are designed to support traders in their trading endeavors. Here’s a closer look at the features that make Monevis Funding an attractive option for traders.
Trading Platforms
Monevis Funding provides traders with access to the MetaTrader 5 (MT5) platform, which is renowned for its advanced capabilities and versatility. MT5 is a robust, multi-functional trading platform that caters to diverse trading needs, offering a comprehensive suite of tools for technical analysis, automated trading, and more.
Monevis operates its own MT5 servers with a MetaQuotes license, ensuring complete control over the trading infrastructure and providing a seamless experience for traders. This setup allows traders to execute trades efficiently and take advantage of fast execution speeds and competitive spreads.
Dashboard
Monevis Funding provides traders with a comprehensive and user-friendly dashboard, designed to enhance the trading experience and streamline account management. This intuitive interface serves as a central hub for traders to monitor and control various aspects of their trading activities. Through the dashboard, traders can easily track their daily profit and loss (P/L), providing real-time insights into their performance.
The platform also offers detailed account history, allowing traders to analyze their past trades and strategies. One of the key features of the dashboard is the ability to manage payouts directly, simplifying the process of withdrawing earnings. Traders can view all the necessary statistics related to their trading activities, helping them make informed decisions. The dashboard’s design focuses on providing clear, accessible information, making it easy for traders of all experience levels to navigate and utilize effectively. This centralized system for account management and performance tracking is an integral part of Monevis Funding’s commitment to providing traders with the tools they need for successful trading.
Customer Support
Monevis is committed to providing strong customer support to assist traders with any questions or issues they may encounter. The support team is accessible through multiple channels, including email, live chat, and Discord. The Discord community is particularly active, offering a platform where traders can interact not only with the support team but also with the CEO and fellow traders. This community-driven approach fosters a supportive environment where traders can share insights, seek advice, and collaborate with peers.
Knowledge Base
Monevis offers a comprehensive knowledge base designed to empower traders by providing them with the information they need to succeed. This includes a variety of educational resources such as tutorials, articles, and FAQs that cover different aspects of trading and the Monevis platform. These resources aim to enhance traders’ skills and understanding of the markets, enabling them to make informed decisions and improve their trading performance.
Swap-Free Accounts
Monevis Funding offers swap-free accounts for all their challenges and funded accounts. This feature is particularly beneficial for traders who prefer to avoid overnight holding charges, especially those who engage in longer-term trading strategies or follow certain religious principles. Swap-free accounts allow traders to hold positions for extended periods without incurring additional fees, providing more flexibility in trading approaches and potentially reducing overall trading costs.
Broker Integration
Monevis Funding integrates with its own brokerage, which is designed to support the needs of its traders by connecting them to a wide range of markets. This integration ensures that traders have access to competitive spreads and fast execution speeds, which are crucial for effective trading. By operating its own brokerage, Monevis maintains control over the trading environment, ensuring reliability and efficiency for its users.
14-Day Free Trial
Monevis offers a 14-day free trial account for testing strategies and platform functionality. This allows potential traders to familiarize themselves with the trading conditions risk-free before committing to a paid challenge.
Multiple Trading Instruments
Traders have access to a wide range of trading instruments, including forex pairs, commodities, indices, and cryptocurrencies. This diversity allows for portfolio diversification and multiple trading opportunities.
Automated Payout Systems
Monevis claims to provide automated payout systems that ensure traders receive their profits quickly and hassle-free, often within the same business day.
Transparent Performance Metrics
Monevis provides real-time performance metrics, allowing traders to track their progress and make data-driven decisions to optimize their trading strategies.
Monevis Funding Review
Conclusion
Monevis Funding offers a compelling package for traders with its high profit splits, flexible account options, and a user-friendly dashboard that makes managing trades and tracking performance straightforward. The swap-free accounts and frequent payout options add to its appeal, catering to a wide range of trading styles and preferences. However, while the features are attractive, it’s important for traders to be mindful of the rules and conditions, such as the two-phase evaluation process and the limitations on certain trading strategies like high-frequency trading. As with any trading program, due diligence is key—traders should ensure they understand the terms and are comfortable with the risk management requirements before diving in. Overall, Monevis Funding presents a robust opportunity for those looking to scale their trading with the backing of a supportive and resource-rich environment.
Monevis Funding Review
