FunderPro assesses its traders through a two-phase evaluation, offering them a demo account equipped with virtual funds. As traders navigate the markets, FunderPro observes their performance.
FunderPro is revolutionizing trader-market interaction by offering opportunities for trading with reduced risks. This proprietary trading firm enables traders to manage accounts as large as $200,000, boasting an 80% profit split, and offers access to a diverse set of trading instruments.
Who are FunderPro?
Launched in February 2023, FunderPro is based in Malta and provides traders with up to $200,000 in capital. Their partnership with a tier-1 liquidity provider ensures direct market access. Their physical address is: 30/1, Kenilworth Court, Sir Augustus Bartolo Street, Ta’Xbiex XBX1093, Malta.
A notable highlight is FunderPro's sponsorship of Oliver Bearman, a prominent British racer from the Ferrari F1 Driver Academy. Gary Mullen, FunderPro's CEO, expressed immense pride in supporting Bearman, likening his journey to FunderPro's commitment to nurturing budding traders. FunderPro's branding will feature prominently on Bearman's racing assets and digital channels throughout the F2 season.
CEO of FunderPro:
Gary Mullen spearheads FunderPro, working alongside his team to launch a challenge poised to redefine the proprietary trading domain. They aim to simplify trading protocols while offering traders unlimited timeframes to accomplish their tasks. Underpinning FunderPro is Red Acre Group, a frontrunner in fintech and blockchain arenas, committed to elevating business performances.
Funding Program Options:
Traders have several evaluation program account options with FunderPro:
Evaluation program accounts
FunderPro evaluation program accounts are designed to pinpoint traders who demonstrate both consistency and discipline. Those who excel throughout the two-phase evaluation period are recognized and rewarded. With the evaluation program account, traders have the opportunity to trade at a leverage of 1:100.
During the initial evaluation phase, traders need to achieve a 10% profit target without exceeding set maximum loss limits. The subsequent phase mandates an 8% profit target, with similar conditions. On successful completion, traders get a funded account, sans profit targets, but with established loss limits.
Evaluation program account scaling plan
Account growth is achievable through the scaling plan, contingent on consistently hitting a 10% profit target over three months, with at least two profitable months. This leads to a 50% increase in the original account balance every three months.
The instruments available for trading during the evaluation include forex pairs, commodities, indices, and cryptocurrencies.
Evaluation Program Account Rules:
The rules dictate specific targets and limits:
- Phase 1 & 2 profit targets: 10% & 8% respectively.
- Maximum daily loss: 5% for all accounts.
- Maximum overall loss: 10% for all accounts.
- Minimum trading days: 5 for both evaluation phases.
- The consistency rule applies only in phase two, emphasizing regular trading behavior and ensuring no single trade profit exceeds 60% of the total target.
How does FunderPro distinguish itself from other prop firms?
FunderPro stands out among the premier prop firms because it doesn't impose restrictions on your trading strategy. Trading during news events, maintaining trades overnight, and even over the weekends is permitted.
In contrast to many prop firms, FunderPro's evaluation program consists of a two-phase assessment. Traders need to navigate both phases to qualify for payouts. The first phase has a 10% profit target, while the second phase demands an 8% profit target. Both phases adhere to a 5% daily loss ceiling and 10% maximum loss. Furthermore, you must actively trade for at least 5 days in each phase to transition to a funded status. Unique to FunderPro, the evaluation programs include a scaling plan and there are no time constraints for both evaluation phases. Their profit targets are realistic and competitive.
Comparison of FunderPro with My Forex Funds:
Comparison of FunderPro with Finotive Funding:
Comparison of FunderPro with FundedNext (Stellar):
Concluding, FunderPro distinguishes itself from many top-tier prop firms due to its flexible trading regulations, not placing constraints on either evaluation phase, and setting fair and attainable profit targets.
Is FunderPro's funding realistic?
When assessing prop firms that align with your forex trading approach, it's crucial to gauge the feasibility of their trading prerequisites. A firm may offer a tempting profit split for a highly funded account, but if they expect towering monthly gains with minimal drawdowns, the likelihood of success dwindles.
With FunderPro, acquiring capital through the evaluation program accounts is practical because their profit targets (10% in phase one and 5% in phase two) are above the norm but not prohibitive. The daily and overall loss limits stand at 5% and 10%, respectively. Moreover, both evaluation phases come without time bounds.
Considering all factors, FunderPro emerges as a prime choice for funding, given that their evaluation program accounts present pragmatic trading goals and favorable payout conditions.
Proof of Payment
FundedPro came into existence in February 2023. After achieving a funded status, your initial payout is accessible within 7 calendar days if profits are recorded. Subsequent payouts for traders are scheduled weekly.
For evidence of payments, you can view an interview with FunderPro's CEO, Gary Mullen, conversing with their inaugural funded trader in the video provided.
Additionally, a payout certificate is available for scrutiny.
Which brokerage is FunderPro affiliated with?
FunderPro operates in association with OspreyFX as its primary broker. OspreyFX facilitates trader access to top-tier liquidity provided by elite investment banks. Coupled with transparent dark pool liquidity execution venues, traders are assured of remarkably tight spreads, starting from 0.0 pips. Commence your trading adventure, and trade alongside global banking titans and key financial institutions. All orders are promptly executed via a genuine ECN trading environment.
Regarding trading platforms, FunderPro permits trading on the revered MetaTrader 4 and MetaTrader 5. They also feature TradeLocker, a state-of-the-art trading platform fortified with charts by TradingView, enhancing the trading experience manifold.
Trading instruments
When you use FunderPro, you can trade using the following instruments: forex pairs, commodities, indices, and cryptocurrencies.
Trading fees
Trading commission:
Spread:
To gain access to the live spreads, use these login credentials for the trading account below:
Platform: MetaTrader 4
Server: Osprey-Real
Login Number: 5084770
Password: pQk0#NAD
Download Platform: Click here
Educational Resources & Assistance for Traders
FunderPro offers an abundance of educational resources accessible via their website's blog section.
Moreover, FunderPro grants traders access to an intuitively designed dashboard. This aids in risk management by presenting live metrics of their trading objectives.
Opinions from Traders on FunderPro
FunderPro has garnered impressive testimonials based on user feedback.
On Trustpilot, they boast an impressive score of 4.5/5 from 16 reviews. It's worth noting, however, that FunderPro's funding initiative is fairly recent. Thus, the pool of feedback is expected to grow over time. This relative scarcity of feedback stems from their initiation in February 2023.
Presence on Social Platforms
You can also spot FunderPro across various social media platforms.
Their online presence includes:
- Facebook page hosting 4 followers
- Instagram handle with a following of 25,
- Twitter feed with an audience of 3,
- YouTube channel currently without any subscribers or content, and
- LinkedIn profile with a follower count of 24.
Additionally, FunderPro has established a Discord server with a community of 286 and a Telegram group inhabited by 12 members for enhanced engagement.
Customer Support
FunderPro's homepage features an FAQ section at its base, where you can uncover answers to your queries.
For assistance, their support personnel can be reached via their social media profiles. Alternatively, inquiries can be directed to their website or their dedicated email: support@funderpro.com.
Furthermore, FunderPro ensures accessibility through a live chat feature operational round the clock.
Final Thoughts
To sum up, FunderPro is a genuine prop trading entity presenting traders with options to select from varied evaluation program account dimensions.
Their evaluation methodology adheres to the dual-phase industry norm, where both phases must be successfully navigated to transition to a funded status and qualify for profit divisions. With FunderPro, traders are tasked with achieving 10% profit in the initial phase and 8% in the subsequent phase to secure funding. These objectives are deemed feasible, especially with the 5% daily and 10% cumulative loss limitations. By navigating these evaluation programs, traders stand to gain 80% of the profits and have the potential to upscale their accounts to a whopping $5 million.
I would advocate for FunderPro to anyone in search of a prop firm with accommodating trading guidelines. Despite their recent entry, they present enticing terms suitable for a broad spectrum of traders with diverse strategies. Evaluating the offerings of FunderPro, they undeniably rank among the emergent prop trading entities showing great promise.
This assessment of FunderPro was refreshed on 16.08.2023 at 08:26 (CE(S)T).
So, are you impressed by the structure of this Proprietary Trading entity? Does FunderPro cater to your trading requisites?
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