Swift Funding Review
Swift Funding is a prop trading firm offering evaluation programs for traders with flexible account sizes from $5,000 to $100,000, potentially scaling up to $200,000. Traders benefit from an 80% profit split and have the freedom to trade without time constraints.
Swift Funding Review
Summary
Swift Funding has positioned itself as a dynamic player in the prop trading industry, offering a range of programs designed to cater to traders of all experience levels. With their Sprint, Pro, and Elite programs, they’ve created a flexible environment that allows traders to showcase their skills and potentially access significant trading capital.
One of Swift Funding’s standout features is its commitment to trader-friendly conditions. They offer account sizes ranging from $5,000 to $100,000, with the potential to scale up to $200,000. This scalability provides a clear path for growth, allowing traders to increase their earning potential as they demonstrate consistent performance.
The firm’s profit-sharing model is particularly attractive, offering an 80% split across all programs. This generous split, combined with the potential for large account sizes, presents a compelling opportunity for skilled traders to boost their income significantly.
The firm also scores points for its flexibility in trading strategies. It allows news trading and doesn’t require the use of stop losses, giving traders more freedom to implement their preferred approaches. While it doesn’t allow general Expert Advisors (EAs), it does permit trade management EAs, striking a balance between automation and manual trading.
In terms of technology, Swift Funding doesn’t disappoint. They offer access to popular trading platforms like DXTrade, Match-Trader, and cTrader, and they plan to add MetaTrader 5 to their lineup in the future. This variety ensures that traders can work with the tools they’re most comfortable with.
Swift Funding’s commitment to trader development is evident in its educational resources and community support. It provides daily research reports and fosters a vibrant trading community, likely through platforms like Discord. This focus on ongoing learning and peer support can be invaluable for traders looking to improve their skills and stay informed about market trends.
Let’s look into the specific features and conditions that make Swift Funding stand out in prop trading.
Swift Funding Review
Programs
Swift Funding offers a few different evaluation programs for traders looking to prove their skills and get funded. Let’s break them down:
Sprint Program
The Sprint program is Swift Funding’s 1-Step evaluation plan, designed for traders who want to quickly demonstrate their trading skills. This program offers a straightforward path to funding with a single phase to complete.
Account sizes for the Sprint program range from $5,000 to $100,000, with corresponding one-time refundable fees:
- $5,000 account: $49
- $10,000 account: $99
- $25,000 account: $199
- $50,000 account: $299
- $100,000 account: $499
The Sprint program has a targeted gain of 10% with no time limit, allowing traders to achieve their goal at their own pace. The daily loss limit is set at 4%, with a maximum drawdown of 6%. Traders benefit from a generous 80% profit split and can utilize leverage up to 100:1.
This program requires a minimum of only one trading day, does not mandate the use of stop losses, and allows news trading. While general Expert Advisors (EAs) are not permitted, trade management EAs are allowed.
Pro program
The Pro program is Swift Funding’s flagship 2-Step evaluation plan, designed for traders who prefer a structured approach to proving their trading capabilities. Like the Sprint program, it offers account sizes from $5,000 to $100,000, with similar pricing. The Pro program typically requires traders to achieve an 8% profit target in Phase 1 and a 5% target in Phase 2, with a daily loss limit of around 5%. Traders enjoy the same 80% profit split and 100:1 leverage. The program’s structure is ideal for traders who thrive under a phased evaluation process, allowing them to demonstrate consistent performance over time.
Elite Program
The Elite program is tailored for traders who want to showcase their consistency over time, emphasizing steady performance and discipline. This program offers the following account sizes and prices:
- $5,000 account: $69 (refundable)
- $10,000 account: $129 (refundable)
- $25,000 account: $239 (refundable)
- $50,000 account: $349 (refundable)
- $100,000 account: $539 (refundable)
The targeted gain for each phase in the Elite program is 6%, with a daily loss limit of 4% and a maximum drawdown of 8%. Traders can keep 80% of the profits and trade with 50:1 leverage. Like the other programs, there are no time limits, allowing traders to focus on steady performance. The Elite program is perfect for traders who excel in maintaining consistent results over time. EAs are not allowed, but trade management EAs are permitted. News trading is also allowed in the Elite program.
Swift Funding Review
Conditions
Swift Funding sets the stage for traders with a set of conditions designed to balance opportunity with risk management. These conditions create a framework within which traders can demonstrate their skills while maintaining responsible risk management practices.
Drawdowns
Swift Funding implements a straightforward drawdown structure across its programs. For the Sprint and Elite plans, there’s a daily drawdown limit of 4%, calculated from the day’s starting balance and reset at midnight Eastern European Summer Time. This means traders can’t lose more than 4% of their account value in a single trading day. Additionally, the Sprint plan has a maximum drawdown of 6% trailing from the highest balance achieved, while the Elite plan allows for a slightly higher maximum drawdown of 8%. These drawdown limits help manage risk while still providing traders with flexibility. It’s worth noting that in the Sprint plan, if a trader makes a 6% gain or more, their maximum loss stays at the starting balance and doesn’t trail anymore, offering a safety net for successful traders.
Payouts
Swift Funding offers a generous 80% profit split for traders across all their programs. This means for every $1,000 you make in profit, you get to keep $800. It’s a competitive rate in the prop trading industry, allowing traders to retain the majority of their earnings. While the exact payout frequency isn’t specified in the provided information, it’s common for prop firms to offer weekly or bi-weekly payouts. Traders should contact Swift Funding directly for the most up-to-date information on payout schedules.
Trading Strategies
Swift Funding doesn’t require traders to use a stop loss, giving them more freedom in managing their risk. While Expert Advisors (EAs) are generally not allowed, the firm does permit the use of trade management EAs, which can help traders automate certain aspects of their open positions. News trading is also allowed, enabling traders to capitalize on market-moving events and potentially volatile periods.
Scaling Plan
Swift Funding implements a structured scaling plan designed to boost traders’ accounts’ initial balances by 25% every quarter, provided specific conditions are satisfied. For eligibility, traders must start fresh at the initial balance. Within the preceding three months, they must have secured a total profit of at least 12% before applying for an increase. This scaling plan incentivizes consistent performance and offers traders the potential for increased trading capital.
Swift Funding Review
Features
| Maximum capital | $100,000 |
| Profit split | Up to 80% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | No |
| Automated trading | No |
| Free trial | No |
| Maximum leverage | 1:100 |
Swift Funding offers a range of features that enhance the trading experience and support trader development. These features are designed to give traders the edge they need to succeed in the competitive world of prop trading.
Trading Platforms
Swift Funding provides traders access to several top-tier trading platforms, demonstrating their commitment to offering professional-grade tools for their traders. The platforms currently supported by Swift Funding include:
- Dxtrade: This is a modern, web-based trading platform known for its user-friendly interface and advanced charting capabilities. Dxtrade offers a seamless trading experience across multiple devices, making it ideal for traders who need flexibility in their trading setup.
- Match-Trader: Match-Trader is a multi-asset trading platform offering a wide range of features for novice and experienced traders. It’s known for its intuitive design and powerful analytical tools, which can help traders make informed decisions.
- cTrader (via PurpleTrading SC): cTrader is a popular platform among forex traders, known for its advanced charting tools and algorithmic trading capabilities. Swift Funding offers this platform through PurpleTrading SC, ensuring traders have access to its robust features.
Swift Funding is also planning to expand its platform offerings in the future. It is on the path to becoming a fully licensed and regulated entity, allowing it to provide access to MetaTrader 5 (MT5). MT5 is one of the industry’s most widely used trading platforms, known for its extensive technical analysis tools and support for various financial instruments.
Customer Support
Swift Funding prides itself on offering excellent customer support. Its team of seasoned industry experts is ready to assist traders with any queries or issues they might encounter. The support is described as friendly and efficient, crucial for maintaining a smooth trading experience. This level of support helps traders feel confident and secure as they navigate their trading journey with Swift Funding.
No Time Limit
Swift Funding offers a unique advantage by imposing no time constraints on traders. This flexibility allows traders to approach their trading challenges at their own pace, accommodating diverse schedules and commitments. By removing the pressure of time limits, Swift Funding fosters a stress-free trading environment that encourages traders to focus on quality and consistency.
Knowledge Base and Resources
Swift Funding provides a comprehensive suite of educational resources and support systems designed to enhance traders’ skills and knowledge. At the heart of this offering are daily research reports that deliver valuable market insights, helping traders make informed decisions. The firm’s commitment to trader development is further evidenced by its seasoned industry experts, who offer unmatched mentorship and support throughout a trader’s journey. This professional guidance is instrumental in enriching traders’ learning and development in trading.
Additionally, Swift Funding fosters a vibrant community, likely facilitated through platforms like Discord, where traders can connect, share experiences, and participate in community calls. These combined resources – from expert mentorship to peer-to-peer learning opportunities – create a robust ecosystem that supports traders at every stage of their development, contributing significantly to their overall success in the challenging field of prop trading.
Customer Support
Swift Funding offers comprehensive customer support to ensure traders have a smooth experience. Their customer service team consists of seasoned industry experts who are ready to assist with any queries or issues that may arise during a trader’s journey. While specific details about support hours or response times aren’t provided on their website, customer testimonials suggest high satisfaction with the support received, describing it as friendly, efficient, and smooth. The company likely offers multiple support channels, including email, chat, or phone support. Additionally, Swift Funding maintains a help center on its website with a section dedicated to General FAQs, allowing traders to find quick answers to common questions about documentation, account reviews, and general trading conditions.
Swift Funding Review
Conclusion
Swift Funding offers a range of flexible and competitive programs that cater to different trading styles and objectives. Their Sprint, Pro, and Elite plans provide traders with various account sizes and pricing options, making them accessible for both new and experienced traders. The standout features include an 80% profit split, unlimited time to meet trading objectives, and the ability to choose from top-tier trading platforms like DXTrade, Match-Trader, and cTrader. Additionally, the supportive environment with robust customer support and educational resources enhances the trading experience. However, traders should be mindful of the restrictions on using EAs, except for trade management purposes, and the specific drawdown limits that are in place to manage risk.
Swift Funding Review
