TradingFunds Review
TradingFunds offer a one-step evaluation with very good trading conditions to qualify for a funded account with a scaling plan up to $2,000,000 and a generous 90% profit share.
TradingFunds offers aspiring prop traders with a unique and transparent prop trading experience that helps separate them from the many other prop firms you see opening nowadays. They are looking for talented traders to join their funded trading program. You can take part in simple trader challenges and gain access to a lucrative funded account should you achieve the realistic goals outlined within the prop trading process.
TradingFunds have a leadership team that is comprised of experienced traders who know what to look for in a good trading strategy. They provide you with all of the tools and resources that are necessary for you to reach your full potential. After all, it is in their own interest that you are a successful trader as they will be getting a share of the profits for providing you with the funds to trade in the first place.
One Step Evaluation
TradingFunds keep things nice and simple with a 1-step evaluation process that has been streamlined to make it more efficient and faster than other competitor prop firm programs. During this initial evaluation phase, traders just need to demonstrate that they have the knowledge and skills to reach very achievable targets on a demo account.
Once these goals have been achieved, TradingFunds provide you with a funded account along with access to a generous scalping plan and other exclusive resources that can help take your trading career to the next level. The funding levels range from $25,000 and can be scaled up to an impressive $2,000,000.
TradingFunds have a clear set of fair and transparent rules that you need to follow in order to pass the trading challenge. If you breach any of the rules or fail to reach the targets, you will not qualify for a funded account but may be able to retake the program.
Drawdowns
Unlike the majority of prop firms, they do not have any constraints on daily drawdowns, which means you can trade without limitations. However, all of the funding programs include a relative drawdown of 6% below the initial balance. This drawdown trails until you have reached the starting balance and then becomes fixed.
Trading Days
There are no minimum or maximum days which eliminates the pressure and allows you to trade in your own time so that you focus on your trading strategies. However, you must trade at least once per 30 days or else your account will become inactive.
Trading Strategies
TradingFunds are very flexible when it comes to the trading strategies they allow. You can trade during the news and hold trades over the weekend. Scalping is allowed but trades must be open for at least 30 seconds. They do allow hedging although you must use a stop loss unless you purchase the add-on that removes this requirement. Trade copying and automated trading with expert advisors are allowed provided they do not breach any of the rules.
Scaling Plan
The scaling plan lets you increase your funded account up to $2,000,000 which is up there with the highest in the industry. You can quickly and easily withdraw profits on a bi-weekly basis.
Refund
Another great advantage of the TradingFunds program is that you can get your initial fee to take part in the challenge refunded once you receive your second pay-out on any of the evaluation programs.
Dashboard
With the help of the TradingFunds advanced trading dashboard, traders can effectively manage their accounts. Using this dashboard, traders can quickly keep an eye on the balances in their accounts, check their trading results, and withdraw their winnings.
Traders may get the information they need to make wise trading decisions from the panel’s real-time market data and analysis. All levels of traders may use this handy dashboard because it is made to be simple to use and intuitive. As mentioned earlier, TradingFunds are dedicated to provide funded traders the resources and assistance they require to be successful.
Platforms
With TradingFunds, you can use the industry leading trading platforms in MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You might already be familiar with these platforms as they are so popular amongst retail traders all over the globe. If not, they are very user-friendly and have a quick learning curve so that you can increase your chances of becoming a successful prop trader. Both platforms are equipped with all of the trading tools that you need to conduct in-depth market analysis and build solid trading strategies with sensible money management.
Broker
At TradingFunds, they have partnered up with EightCap. One of the leading trading brokers. They are a highly reputable and ASIC regulated broker that was established since 2009. They have very good trading conditions including tight spreads, low commission fees and rapid trade execution speeds.
Support
When it comes to choosing a good prop firm, customer support is one of the top things that should be on your list. This is another area where TradingFunds excel. Their support staff members are well-versed in dealing with any queries or worries that traders could have. Because they are aware that every trader is unique and has various demands and problems, their support agents take the time to learn about each trader’s situation and offer customised help as necessary. If you have any queries or inquiries, they will answer your question in a prompt and efficient manner.
Knowledge Base
There is a knowledge base on the TradingFunds website where you can find a vast collection of articles and resources designed to help traders of all levels of experience. This resource provides something for every trader, whether you’re trying to study fundamental guidelines or are looking for advanced tactics to improve your success.
Overall, TradingFunds are up there with the best prop firms for numerous reasons. Primarily, they offer very competitive prices for taking part in their trading challenge. It is only a one-step evaluation with realistic targets so a funded account is certainly achievable for confident traders. The trading conditions are very flexible as they allow most trading strategies without harsh restrictions like some other prop firms have to try and catch you out. This is backed by excellent support from a team that prioritize transparency, fairness, and integrity in all of their operations.
