SuperFunded Review
SuperFunded is an Australian proprietary trading firm offering traders access to capital up to $200,000 through a two-phase evaluation program. Founded by experienced traders, the firm partners with ASIC-regulated broker Eightcap to provide trading on over 500 instruments via the MetaTrader 4 platform.
SuperFunded Review
Summary
SuperFunded is a proprietary trading firm based in Australia, offering traders a unique opportunity to access significant capital without the need for a large personal investment. Founded by veteran traders with over 50 years of experience in the financial markets, SuperFunded aims to make global markets accessible to all, with low-cost trading opportunities and educational tools. The firm partners with Eightcap, an ASIC-regulated broker, to provide traders with access to over 500 instruments on the MetaTrader 4 platform.
SuperFunded’s evaluation program is designed to reward consistent trading performance, with a two-phase challenge that requires traders to achieve a 10% profit target in the first phase and a 5% profit target in the second phase. Traders have up to 30 days to complete each phase, and successful candidates gain access to a funded account with a competitive profit split of up to 90%. The firm’s trading conditions include leverage up to 1:30, a 5% maximum daily drawdown, and a 10% maximum total loss limit.
SuperFunded’s approach to trader funding is realistic and practical, with achievable profit targets and sensible loss limits. The firm’s evaluation program accounts offer flexibility for different trading strategies and capital requirements, making it an excellent choice for traders of varying expertise. With its user-friendly interface, fast support, and attractive profit splits, SuperFunded has established itself as a credible and promising proprietary trading firm in the industry.
Let’s look into the prop firm’s features and conditions in more detail to get a comprehensive understanding of what SuperFunded has to offer.
SuperFunded Review
Programs
SuperFunded offers a two-phase evaluation program designed to help traders develop their skills and strategies without requiring a large initial deposit. The firm uses the same platforms and partners as brokers but simulates trades during the evaluation and funded stages to minimize risk. Their entry-level challenge starts with a $6,000 account for a fee of $66. The program consists of two phases: Phase 1 requires a 10% profit target, while Phase 2 has a 5% profit target. Traders must complete a minimum of 4 trading days and adhere to a maximum daily loss limit of 5% and a maximum total loss limit of 10%. SuperFunded provides generous leverage of 1:100 and offers a profit split of up to 90% for successful traders. This structure allows traders to potentially earn from simulated profits while learning and refining their trading strategies in a lower-risk environment.
Upon successful completion of both phases, traders gain access to a funded account. Funded traders enjoy a competitive profit split of up to 90%, with payouts available bi-weekly after an initial 30-day trading period. These accounts maintain the same trading conditions as the evaluation, including access to over 500 trading instruments and leverage up to 1:100 for forex (1:30 for other instruments). The funded account program is designed to provide traders with significant capital and earning potential while maintaining a focus on consistent and responsible trading practices.
SuperFunded Review
Conditions
SuperFunded sets clear conditions for its traders, balancing opportunity with risk management. These guidelines are designed to foster responsible trading practices while allowing traders to showcase their skills.
Drawdowns
SuperFunded has a clear drawdown policy to manage risk effectively. The maximum daily drawdown is set at 5%, meaning you cannot lose more than 5% of your account balance in a single day. Additionally, there’s a maximum total loss limit of 10%, which is calculated based on your initial account balance. This drawdown limit is static, so even if your account balance increases due to profits, the drawdown threshold remains the same. For example, if you start with a $100,000 account, your balance should not drop below $90,000 at any point, regardless of any gains made. This approach ensures that traders maintain a consistent risk level throughout their trading journey.
Payouts
Once you become a live-funded trader with SuperFunded, you’re required to trade for a minimum of 30 days before you can request your first payout. After this initial period, payouts can be requested bi-weekly. This structure provides a balance between allowing traders to access their earnings and ensuring that they are actively participating in the funded program.
Trading Strategies
SuperFunded imposes specific restrictions on trading strategies to ensure a controlled trading environment. The platform does not support the use of Expert Advisors (EAs) and Indicators, and it strictly prohibits several high-risk strategies. These include account management, which involves managing multiple accounts with similar trading patterns, high-frequency trading (HFT), tick scalping, grid trading, latency arbitrage, reverse arbitrage, and martingale trading. Additionally, any attempts at data feed manipulation or the use of delayed data feeds are not allowed. If any of these prohibited strategies are detected in a live account, it will lead to account termination. Despite these restrictions, SuperFunded offers flexibility by allowing traders to hold positions overnight and over the weekend, which benefits those employing longer-term strategies. However, trading during high-impact news events is not permitted. Such events are defined as opening or closing trades within 10 minutes before or after the news, with high-impact news identified using the Forex Factory calendar, marked in red. Trades opened outside this window can remain open, provided they are not closed during the restricted time.
Consistency Rule
In the live trading stage, SuperFunded enforces a 50% profit consistency rule. This means that no single trade can account for 50% or more of your total required or target return. This rule is designed to ensure that traders achieve consistent results rather than relying on a single large trade to meet their targets.
Refunds
SuperFunded has a strict no-refund policy once a withdrawal has been made. This means that after you withdraw funds from your account, you cannot request a refund for any reason. This policy underscores the importance of thoroughly understanding and agreeing to all terms and conditions before engaging in trading activities with SuperFunded. It’s crucial for traders to be aware of this policy to avoid any misunderstandings or unexpected issues regarding fund withdrawals.
SuperFunded Review
Features
| Maximum capital | $200,000 |
| Profit split | Up to 90% |
| Scaling | No |
| News trading | No |
| Weekend trading | Yes |
| Automated trading | No |
| Free trial | No |
| Maximum leverage | 1:100 |
The features offered by SuperFunded are tailored to support traders in their journey from evaluation to funded status. Let’s explore the key features that set SuperFunded apart in the competitive world of prop trading.
Platforms Offered
SuperFunded’s partnership with Eightcap provides traders access to the industry-standard MetaTrader 4 (MT4) platform, renowned for its reliability and comprehensive feature set. This versatile platform supports a wide range of trading activities, including forex, CFDs, and commodities, catering to diverse trading strategies and preferences. MT4’s accessibility is a key advantage, with versions available for web browsers, desktop computers, and mobile devices, ensuring traders can manage their accounts and execute trades from virtually anywhere with an internet connection.
The platform offers advanced charting capabilities, a variety of technical indicators, and support for automated trading through Expert Advisors (EAs). Additionally, MT4’s user-friendly interface makes it suitable for both novice and experienced traders, while its customization options allow users to tailor the trading environment to their specific needs. By offering MT4, SuperFunded ensures its traders have access to a powerful, flexible, and widely-trusted trading platform that can accommodate various trading styles and market conditions.
Dashboard
SuperFunded offers a user-friendly dashboard that acts as the central hub for traders to manage their accounts and track performance. This dashboard provides a clear overview of essential metrics such as account balance, equity, profit and loss, and drawdown levels, allowing traders to easily monitor their progress toward evaluation targets like profit goals and adherence to drawdown limits.
It typically includes features for reviewing trade history, analyzing performance statistics, and accessing important account information. The dashboard integrates with the MetaTrader 4 (MT4) platform, facilitating efficient trade execution and management. This tool is crucial for traders to stay informed and make data-driven decisions, enhancing their overall trading experience.
Support Offered
While SuperFunded does offer customer support, options are somewhat limited. Traders can reach out via email for assistance. The firm emphasizes the importance of understanding their terms and conditions, as well as the trading environment, to minimize the need for frequent support interactions. However, they do provide necessary guidance during the evaluation and funded stages.
Knowledge Base
SuperFunded offers educational tools designed to help traders enhance their strategies without requiring a large initial deposit. While their educational resources may not be as extensive as those offered by some competitors, they emphasize providing practical insights and tools that traders can directly apply to their trading activities. The firm promotes learning through hands-on experience, supported by their simulated trading environment during evaluations, allowing traders to refine their skills in a realistic yet risk-managed setting.
SuperFunded Review
Conclusion
In conclusion, SuperFunded offers a solid prop trading experience with a straightforward evaluation process, competitive profit splits, and a wide range of tradable instruments. Their partnership with Eightcap provides access to the reliable MetaTrader 4 platform, and their focus on practical learning through simulated trading is a plus. However, traders should be aware of the strict rules around drawdowns, news trading, and prohibited strategies. Overall, SuperFunded is a good choice for traders looking for a prop firm with a balanced approach to risk and reward, but it’s essential to understand and adhere to their rules to make the most of the opportunity.
SuperFunded Review
