FunderPro is one of the few prop firms, which are offering a possibility to trade with real funds, after you’re passed evaluation process. In some interview their CEO, Gary Mullen, has said that FunderPro earns money, when trader earns money. That’s why they are making withdrawal process all the time more seamless.
Their spreads are low especially in commodities and metals, but also in major Forex pairs.
Customer support is friendly, quick and qualified.
FunderPro allows you to trade the strategies you like, but trading news and holding over weekend, depends on your challenge, is it or is it not allowed.
FunderPro evaluation
The Evaluation Program at FunderPro is a carefully designed system that aims to identify skilled and disciplined traders who can effectively manage risk while achieving specific profit targets.
Phase 1: In the first phase, traders must reach a 10%* profit target without exceeding a maximum daily loss of 5%* or a total loss of 10%*. There is no time limit in this phase, allowing traders to work at their own pace. However, they must engage in at least five days of trading before advancing to the next phase.
(In 1-phase challenge, profit target is 12%, daily drawdown is 4% and overall drawdown is 7%)
Phase 2: The second phase is the verification phase, which follows the same guidelines as the first but with an 8% profit target. Traders need to adhere to the rules of not exceeding a daily drawdown of 5% or a total loss of 10%, and they must trade for at least five days to proceed further.
Consistency Rule by FunderPro
During Phase Two challenges, FunderPro implements a consistency rule that guides traders towards steady profit growth rather than volatile jumps. This rule states that the profit earned in a single day should not make up more than 60% of the total profits accumulated throughout the challenge. It's an effective method devised by FunderPro to mitigate risk and promote sustained progress in trading. It’s worth noting that this consistency rule applies only during 1-phase challenge and 2nd phase of 2-phase challenge. So there’s no consistency rule at 2-phase Swing challenge and when you’re funded.
FunderPro Funded Trader
After successfully completing evaluation phase(s) and adhering to all rules, including the consistency rule, traders will be granted a funded account to trade on Live proprietary trading platform. At this stage, you will be recognized as a Funderpro trader. Unlike previous stages, there is no specific target profit set. Your main responsibility as a trader will be to adhere to the 5% maximum daily loss and 10% total loss rules, also known as the maximum drawdown.
FunderPro Scaling Plan
The FunderPro scaling plan, available on all accounts, not only allows you to increase your balance but over time you can also increase your potential payout by simply proving yourself as a consistent, profitable trader.
Why our Scaling Plan is the best on the market?
A very generous 50% increasein account balance every 3 months, all the way up to $5 million
Fair and safe profit eligibility requirement (10% consecutively for 3 months)
Trading goals remain the same
Profit split of 80/20 in your favor (or 90/10 with the add-on)
What are the requirements?
To be eligible, traders must meet a 10% profit target consecutively for 3 months, and we will reward you with a 50% balance increase of up to $5 million. If you consistently build 10% profit again in the next 3 months, we will reward you with another 50% balance increase, and so on.
For example:
If you start with a $100k account and are profitable for 3 consecutive months with at least 10% profit, you will qualify for a 50% scale increase. Meaning that you will get an extra $50k, bringing your balance up to $150k. If you consistently build 10% profit again in the next 3 months, your balance will increase to $225k, and so on.
Broker and Trading Platforms
FunderPro has formed a valuable partnership with a highly reputable liquidity provider. This collaboration grants FunderPro exclusive access to the financial markets, as well as an institutional data feed for their live accounts.
In terms of trading platforms, FunderPro offers clients a range of choices. You have the option to utilize the popular MetaTrader 4 or MetaTrader 5 platforms, which are well-known and trusted in the industry. Alternatively, you can elevate your trading experience by opting for TradeLocker, a state-of-the-art platform that boasts advanced charts powered by TradingView. With these diverse options at your disposal, you can select the platform that aligns with your unique trading style and aspirations, enabling you to truly cultivate and progress in your trading career.
In conclusion, our analysis of FunderPro reveals that this innovative proprietary trading firm has a wealth of advantages to offer. Traders are granted the autonomy to manage substantial accounts and retain a significant portion of their earnings, creating a more accessible and rewarding trading atmosphere.
Furthermore, their collaborative alliance with a top-tier liquidity provider and the provision of popular trading platforms ensure an elevated trading experience.
However, it is important to be aware that trading carries inherent risks. While FunderPro provides resources to assist with risk management, it is essential to possess a thorough understanding of the markets and exercise prudent risk management strategies. This prop firm is certainly worth considering, particularly for those aspiring to advance in the trading industry without encountering convoluted restrictions. Additionally, their streamlined withdrawal process allows for prompt and effortless profit withdrawals.
