FunderPro is a proprietary trading firm that aims to empower skilled traders by providing them with the opportunity to manage significant amounts of capital, up to $200,000 initially, with the potential to scale up to $5,000,000. They offer a unique proposition in the prop trading space with their no time limit challenges, which allows traders to operate without the pressure of having to meet objectives within a set timeframe.
FunderPro provides a distinct opportunity to participate in Real Trading with minimal upfront capital requirements. To become a Funded Trader and trade with Company Funds, traders simply need to pass a Test or Challenge to obtain a Funded Account, enabling them to trade as Professional Traders with a Company Account.
Is FunderPro Legit?
Based on the available information, FunderPro presents itself as a legitimate proprietary trading firm that offers unique opportunities for traders to manage funded accounts without the constraints of time limits on their trading challenges. Their innovative approach, including real capital accounts for funded traders, competitive profit splits up to 90%, and the provision of a technology-driven platform with advanced analytics, positions them as a serious player in the prop trading industry.
As a general rule, Prop Trading firms typically operate without a Forex Broker license, which means they are subject to less regulation and oversight compared to Forex Brokers. Consequently, they may not offer the highest level of safety, as they are solely responsible for managing the entire operation and providing funds for trading activities. It’s essential to thoroughly understand all the risks involved before engaging with such firms.
Is FunderPro Scam?
We conducted a thorough check of FunderPro’s legitimacy through their official website and found no evidence to suggest it’s a scam. However, given that Prop Trading Firms are typically less regulated by financial authorities, it can be challenging to ascertain the true nature of such firms.
Educate yourself extensively about Prop Trading, understand the associated risks, and select a company with a reputable track record, preferably one that has been operational for many years to ensure greater stability. Additionally, since you’re not investing significant sums into trading but rather paying subscription fees, potential losses are generally lower compared to engaging in Real Trading with your own funds
FunderPro Challenge Evaluation Rules
To focus on the key aspect of our FunderPro Review, it’s crucial to examine how the evaluation process is structured and the prerequisites for participating in the trading challenge. This involves understanding the specific assessments one needs to successfully complete to qualify for a Funded Trading Account and transition into a Proprietary Trader. Additionally, it’s important to consider the associated expenses for aspiring traders, typically in the form of a registration fee.
To become a Funded Trader with FundedPro, candidates must pass a 2-step evaluation process. Initially, traders work with a demo account during the evaluation phases. Upon successful completion and meeting specific criteria, traders then gain access to a live trading account​​.
Account Balance and Registration Fee
Prior to initiating the FunderPro login process, you’ll be prompted to choose the Model and Account Balance you wish to qualify for. Depending on the size you select, the terms of the challenge vary slightly. This choice also impacts the registration fee you’ll need to pay to participate in the challenge. However, it’s worth noting that FunderPro provides a refund of this fee upon achieving the status of a Funded Trader. Refer to the Registration Fee comparison table below for further details.
FunderPro’s challenge and funding model is built to accommodate a wide variety of trading strategies, including the freedom to trade over weekends and during major news events, which is not commonly allowed in many other prop trading firms.
Traders must navigate through a two-phase evaluation, demonstrating their ability to generate profits while adhering to risk management rules​​.
FunderPro offers a variety of account sizes for traders participating in its evaluation challenge, catering to different levels of trading expertise and financial commitment. The account sizes range from $25,000 to $200,000, with corresponding fees for each.
Profit Target
Based on our finds, FunderPro’s evaluation challenge involves a two-phase process where traders aim for a 10% profit target in the first phase and an 8% target in the second, adhering to strict drawdown limits.
Maximum Loss
In FunderPro’s trading challenge, participants must manage their trades carefully to avoid exceeding maximum loss limits. The challenge specifies two key drawdown restrictions to ensure disciplined risk management: a maximum daily loss limit of 5% and an overall loss limit of 10% from the starting balance.
Minimum Trading Period
The FunderPro trading challenge requires traders to trade for a minimum of five days. This requirement applies to the evaluation process, ensuring that participants demonstrate their trading consistency and risk management skills over a sufficient period, rather than relying on short-term gains​​.
Free Trial
FunderPro offers a free challenge trial for users to explore its platform features before committing to a subscription. The trial lasts for 5 days, allowing only one active free trial at a time. After a trial, users can start another after a 5-day waiting period, with no limit on the number of free trials one can start. Each trial requires a 5-day waiting period.
FunderPro Funded Account
After successfully completing the test or challenge, the trader will have their Funded Account established, a process that typically takes a few business days to activate. It’s crucial to understand that the account conditions and balance will precisely match those for which you qualified in your test. Should you desire to upgrade your account to a higher grade, you’ll need to undertake the test anew for the preferred Account Balance from the outset.
Profit Split
In the FunderPro trading challenge, once traders successfully complete the evaluation process and start trading with a funded account, they are entitled to an 80% share of the profits they generate.
Payout and Withdrawals
FunderPro allows for daily payouts whenever your funded account is in profit by at least $100, with no other specific requirements. This enables traders to request payouts for their earnings on a daily basis, offering a flexible and trader-friendly approach to accessing profits​​.
Withdrawal Method
There are various convenient methods offered by FunderPro Prop Trading Firm once you wish to withdraw funds from you Funded Account. Those Methods include Perfect Money, Crypto Transfers via USDT, USDC, also clasic Bank Transfer, and Wise.
Account Conditions
When reviewing Account Conditions, carefully examine Broker options, Platforms, Instruments, Trading Costs, Leverage levels, and Trading conditions. Some Brokers restrict certain strategies in Funded accounts, risking loss of Account, requiring a retake of the test for access. See breakdown below.
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