The Funded Trader Review 2023 [with 40% OFF discount code] (2024)

8.7Expert Score

The Funded Trader Review 2023

The Funded Trader is one of the biggest Prop Firms that has paid over $70 million in profit split.

Click and Reveal a 15% code for The Funded Trader. Code applicable on all Challenge types but can only be used ONCE. Use it wisely

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PROS

• 92%+ payout
• Big and Active Community
• Active Social media handles
• Up to 600k funding
• Scaling up to 1.5 million
• News Trading allowed in some plans
• Weekend holding allowed in some plans
• Unlimited evaluation, free retries
• Payouts within 14 days
• Transparency

CONS

• Less expensive than some prop firms
• Trailing drawdown in some challenges
• No 2-step no-time limit challenges available
• No course/training source for beginners

In this current Prop firm bubble, it is crucial to choose a reliable and trustworthy Prop firm that has been giving payout constantly for months. So without any further ado, I would like to introduce you to The Funded Trader, aka TFT. The Funded Trader is one of the biggest prop firms with over $70,000,000 paid to traders.

The Funded Trader Overview

The Funded Trader (operates as The Funded Trader LLC) was founded in 2021 with incorporation on 12 May 2021 with headquarters at Liberty Hill, Texas (USA). The Twitter account was created in October 2021.

The Funded Trader was founded by Blake Olson, Angelo Ciaramello, Carlos Rico Ospina Jr, and Nick D’Arcangelo. Blake is a well-known Youtuber in the Prop firm space and runs the Trade Connect VVS channel where he eventually decided to start his own trading education company, VVS Academy. He also is the Founder & CEO of Smart Prop Trader prop firm.

Angelo Ciaramello, the brand face and the CEO of The Funded Trader, is an entrepreneur from New Jersey who left his IT job in 2020 for one single idea – gamifying fin-tech with prop trades. He along with Nick D’Arcangelo started Forex League, a trading community, in May 2019. Later on, in 2022, Angelo also received The top 25 Financial Technology Leaders of New Jersey for 2022.

The reason why The Funded Trader is allowed for US Traders is that there is a separation in The Funded Trader. There is the entity that does the challenges i.e. The Funded Trader and there is a prop firm based on the Cayman Islands which is contractually in partnership with The Funded Trader and is allowed to use the data which makes the trading possible.

Types of Challenges

The Funded Trader offers four types of accounts, each account catering needs of all segments of traders and they are also going to launch the King’s Program soon which has some special criteria to join.

• Standard Challenge
  • Swing
  • Regular
• Rapid Challenge
  • Swing
  • Regular
• Royal Challenge
• Knight Challenge

Standard Challenge

Swing Challenge has two options – Swing and Regular. In Swing, weekend holding is allowed, compromising the leverage which is 1:60 only in Swing. Whereas in Regular, the leverage allowed is 1:200 though you have to compromise with weekend holding as it is not allowed.

• Regular
• Swing

Plans

The Standard Challenge Plans start from $129 and go up to $1,958 and prices of plans are the same for either Swing or Regular. All Prices of Standard Challenges can be found in the Table below –

Scaling

The Funded Trader offers a generous scaling Plan for the consistent traders in Standard Challenge. The account is increased by 25% every time it scales. Funded Accounts are reviewed every 3 months. If a trader has been profitable for at least 2 out of the last 3 months with either (i) an average return of 6% over the 3-month period or (ii) a 2% return each month during the 3-month period, then they become eligible for an account size increase equal to 25% of their original account balance automatically and will only be done and processed while awaiting a withdrawal. The daily and maximum overall drawdown amount will also be adjusted accordingly. The Traders are also eligible for a 90% profit split if they are eligible for scaling in Standard Challenge.

Rapid Challenge

The rapid challenge is for the traders who want their funded account as soon as possible and start trading with real funds. The Rapid Challenge is a 2-step challenge but there are no minimum trading days (Unlike Standard and Royal Challenge) and offers a Balance based drawdown. The Rapid Challenge also has two options available – Swing and Regular. And as you have guessed it the difference between these are in Weekend Holdings and Leverage. Swing allows weekend holdings but has leverage of 1:30 whereas Regular leverage is 1:100 though it does not allow weekend holdings.

• Regular
• Swing

Plans

The Rapid Challenge Plans start from $79 and go up to $899 and the prices of plans are the same for either Swing or Regular. All Prices of Rapid Challenges can be found in the Table below –

Scaling

The Scaling Plan for Rapid Challenge works differently than the Standard Challenge. If the trader makes over 10% of the account’s initial balance in one profit split. Then, the account is scaled up by 10% when they request the payout. Also, if during the 3-month period, you’re eligible for scaling for 2 months then you are also eligible for a 90% profit split permanently.

Royal Challenge

The Royal Challenge is the flagship program of The Funded Trader which offers leverage of 1:200. News Trading and EA’s (Expert Advisors) are allowed and not only that they also have no lots limit in the Royal Challenge which is the cherry on the cake.

The Scaling Plan and profit split increment of the Royal Challenge is the same as Standard Challenge.

Plans

Since the Royal Challenge is the flagship program of The Funded Trader it is only available for serious traders the lowest pack is $50,000 worth $289 and the price goes up to $1,869 for a $400,000 account. The full Price list of the Royal Challenge can be seen in the table below –

Knight Challenge

The Knight Challenge of The Funded Trader is a 1-step challenge that allows an unlimited time period for the traders to pass the challenge though one disadvantage is that it only allows 1:30 leverage. Though it allows withdrawal within 7 days after placing the first bet on the funded account, it has a maximum drawdown of 6% and a daily trailing drawdown of 3%.

Just like Royal Challenge, Knight Challenge allows EA’s and News trading as well and has no limit on the lot size allowed.

The Scaling Plan and profit split increment of the Knight Challenge are the same as Standard Challenge. And upon that, the daily drawdown will increase from 3% to 4% upon scaling.

Plans

The Knight Challenge of The Funded Trader starts from $189 and goes up to $939. Full Price list of the Royal Challenge can be seen in the table below –

Payment Proofs

These are the recent Payment Proof certificates and images posted in The Funded Trader Discord by either the official team or the Verified Funded Traders themselves –

Rules and FAQs

News Trading

News Trading is allowed in Challenge (phase 1) and Verification phase (phase 2) of Standard, Rapid, Royal, and Knight Challenge. But when it comes to Funded accounts there are restrictions –

Weekly Holdings

Holding Trades over the Weekend is allowed in Standard Challenge – Swing Account, Rapid Challenge – Swing Account, Royal Challenge, and Knight’s Challenge but not allowed in Standard Challenge – Regular Account and Rapid Challenge – Regular Account.

Brokers

The Funded Trader supports two brokers namely Eightcap and Purple Trading SC. TFT provides you the option to select any of the brokers at no extra cost.

Can I Trade Crypto on Weekends?

Crypto trading on weekends is allowed if you choose Eightcap as your broker but not allowed on Purple Trading SC broker.

Spreads and Commissions

Eightcap commissions are as follows –

Forex: $7 per lot

Metals: $3 per lot

Indices/Crypto/Oil: $0 per lot

Payment and Withdrawal Methods Available

You can buy Challenges using a Credit Card, Debit Card, or Cryptocurrencies.

For Withdrawals, The Funded Trader supports Deel from which traders can withdraw profits directly to bank accounts, e-wallets, and even cryptocurrency.

Educational Material and Support

The Funded Trader does not offer any course or training for the traders though they have a very active Youtube Channel where they provide educational content and interviews of successful traders where you can learn a lot about how to be a successful prop firm trader.

The Funded Trader Support is fast and accurate. I personally used it and they replied within 15-20 mins. Their discord is also one of the biggest and most active in the industry where you can also ask questions and officials replies within minutes.

You can also contact them –

Email: support@thefundedtraderprogram.com

Phone: (888) 920-3079

Countries Allowed

The Funded Trader is not allowed to persons residing in the following countries but not limited to –

• Cuba
• Iran
• Lebanon
• Libya
• North Korea
• Sudan
• Somalia
• Syria
• Russia
• Crimea, Donetsk, and Luhansk regions of Ukraine

Assets and Instruments available for trading

You can Trade all major forex pairs and many minor forex pairs. Other than that you can trade commodities, indices, and crypto as well.

Test Accounts

Competition

Every month The Funded Trader organizes a competition in which they provide an account to all the participants and those who get at the top of the leaderboard get rewarded either with a cash prize or with free challenges or both. The competition of The Funded Trader is one of the biggest in the whole industry.

Discount

CEO Name Special The Funded Trader Discount Code is available and working on all challenges. Unlimited uses per customer

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Click and Reveal a 15% code for The Funded Trader. Code applicable on all Challenge types but can only be used ONCE. Use it wisely

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15% OFF

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The Funded Trader triumphs when it comes to social presence. They have thousands of followers spread across all over their social empire. So if you’re new to the prop firm industry I will highly suggest you start with TFT because the profit to drawdown ratio is fairly good and they are a very trusted firm with a payment record. They also allow free retries if you did not breach any rules and are profitable but not able to hit the profit targets.

One of the biggest turns off for The Funded Trader for me is that they do not have a no-time limit 2-step Challenge which is a necessity in trading. Not everyone can achieve a 10-12% profit target within 35 days. Also while compared with other prop firms the small challenges are costlier than other firms.