The Funded Trader Program is one of the leading legitimate proprietary trading firms in the industry that is attracting many forex traders. They were incorporated on the 12th of May, 2021 with offices based in the USA. They are offering traders a chance to work with capital up to $1,500,000 with a generous profit split up to 90%.
The Funded Trader Program offers two different funding programs. You can choose between the following:
- Standard challenge (two-step challenge)
- Rapid challenge (two-step challenge)
In this article, however, we are going to do a breakthrough of the standard challenge.
They offer four different account sizes:
- $50,000 account for a one-time fee of $315
- $100,000 account for a one-time fee of $549
- $200,000 account for a one-time fee of $949
- $400,000 account for a one-time fee of $1,898
The rules of the standard challenge are the following:
- Profit target 1: 10%
- Profit target 2: 5%
- Daily drawdown: 6%
- Overall drawdown: 12%
- Minimum trading days: 5 calendar days
- Phase 1 maximum trading period: 35 calendar days
- Phase 2 maximum trading period: 60 calendar days
- Leverage: 1:200
After successfully completing the standard challenge, you receive a funded account of the same balance as your evaluation account while also becoming eligible to profit splits of 80%, which have the potential to increase to 90% after you start scaling your account.
As previously mentioned, The Funded Trader Program also has a scaling plan for the standard challenge that is available to traders who are consistent throughout a longer time period. The requirements to be eligible for the scaling plan are that you must reach a profit target of 6% over a three-month period to scale and increase your account balance by an additional 25%. You should also note that out of the three months, at least two are required to be profitable. This scaling plan has an upside cap of $1,500,000 in balance.