The Funded Trader Honest Review & Challenge Comparisons (2024)

The Funded Trader is one of the top prop firms in the industry right now. With more than $20 million paid out and hundreds of 5-figure payouts. But with 3 different challenges, and lots of similar prop firm competition, it may be hard deciding if The Funded Trader is right for you. That’s why in this review I’ll discuss every detail you need to know about The Funded Trader, and compare it to alternatives like FTMO, My Forex Funds and Funded Trading Plus.

The Funded Trader Discount Code

If you do choose The Funded Trader the discount code TPJ gives 5% off any challenge!

Also, make sure to check out my Prop Firm Discount Codes Page to find the latest limited time discounts for The Funded Trader and other prop firms.

The Funded Trader Reputation

The Funded Trader has a very good reputation, and with more than 10k reviews on Trustpilot with a 4.5 star rating overall. There are lots of payout proofs posted in the TFT discord, which has over 65,000 members.

The 3 The Funded Trader challenges and what makes them unique

So it’s clear The Funded Trader pays out when you make a profit, but which challenge should you choose? TFT offers 4 different challenges:

• Standard Challenge
• Rapid Challenge
• Royal Challenge
• Knight Challenge

The Standard, Rapid and Royal challenges are 2-step, while the Knight Challenge is 1-step. All challenges apart from the Rapid challenge have no time limits.

The Funded Trader Standard Challenge

The key details of the TFT Standard Challenge are:

• No time limits
• Phase 1 Profit Target: 10%
• Phase 2 Profit Target: 5%
• Maximum Drawdown (static): 10%
• Daily Drawdown (equity & balance based): 5%
• Minimum Trading Days: 3
• Up to 1:200 Leverage
• 80% Profit split, 90% with scaling
• Withdrawals every 14 days
• News trading partially allowed
• EA trading allowed with add-on (increased price)

Standard Challenge Price

Extra Drawdown Standard Challenge

The Extra Drawdown addon of the standard challenge increases the drawdown limits for a higher evaluation fee.

• +20% Higher price
• Maximum Drawdown (static): 12%
• Daily Drawdown (Equity & based): 6%

Swing vs regular

If you do choose to take the TFT standard challenge, the next choice is between the swing and regular accounts. The difference is that swing standard accounts can hold over the weekend but have up to 1:60 leverage, while regular standard accounts can’t hold over the weekend but have up to 1:200 leverage. Also, Swing Standard accounts can trade news in both the challenge and funded account, while the Regular Standard can trade news during the challenge, but not when funded.

Payouts

Traders with standard funded accounts can request a their first payout 30 days after they place the first trade on the funded account. For future payouts it takes only 14 days since the first trade was placed after the previous payout date.

Scaling Plan

Once you are funded with the TFT standard challenge, you have the potential to scale up all the way to $1.5m. In order to scale up, you need to make a return of 6% in 3 months, with at least 2 of the 3 months being profitable. Traders must make at least 2 withdrawals during these 3 months too. If you achieve this, your account will increase by 25% of the original account balance. You can continue achieving these targets every 3 months and scaling up, but keep in mind each account increase is always 25% of the original account balance, so account scaling does not compound. For example, if a trader scales up a $100k account once it will increase to $125,000 and then if they scale up again the account will go up to $150,000, then again up to $175,000.

The Funded Trader Rapid Challenge

The key details of the TFT Rapid Challenge are:

• Phase 1 Profit Target: 8%
• Phase 2 Profit Target: 5%
• Maximum Drawdown (static): 8%
• Daily Drawdown (balance based): 5%
• Minimum Trading Days: 0
• Up to 1:100 Leverage
• 80% Profit split, 90% with scaling
• Withdrawals every 14 days
• News trading partially allowed
• EA trading not allowed

Rapid Challenge Price

Swing vs regular

There is also the option between a swing and regular account for the rapid challenge. The regular rapid account can’t hold trades over the weekend but has 1:100 leverage (this is half the leverage of the regular standard account), while the swing rapid account can hold trades over the weekend but has 1:30 leverage (again half the leverage of its standard counterpart). Also, Swing Rapid accounts can trade news in both the challenge and funded account, while the Regular Rapid can trade news during the challenge, but not when funded.

Scaling Plan

The scaling plan for rapid accounts works differently to the standard account scaling plan. You can scale up once a month, and the only requirement is to make a withdrawal of 10% of the account’s initial balance in one profit split. This requirement stays the same, but if you withdraw a profit split of less than 10% of the account’s initial balance, it won’t contribute to scaling at all. When you scale up the rapid account, it will increase by 10% of the initial account balance. For example with a $100k account, the first scale up will increase it to $110k, then the second to $120k, and so on.

Payout

Rapid funded account payouts can be requested 14 days after placing the first trade. The profit split for rapid accounts is initially 80%, but can be increased to 90% if during any 3 month period you qualify for scaling in 2 out of 3 months. This minimum 20% profit is much harder than the standard and royal scaling plans, which only require 6% profit over 3 months.

Lot size limits (Standard and Rapid Funded Accounts)

The Funded Trader doesn’t enforce any lot size limits during challenges, but once funded with a standard or rapid account on Eightcap there is a 5 lot size limit on indeces. If you want to avoid this either choose a purple trading for the broker when buying a standard or rapid account, or go for the royal challenge.

The Funded Trader Royal Challenge

• No time limits
• Phase 1 Profit Target: 8%
• Phase 2 Profit Target: 5%
• Maximum Drawdown (static): 10%
• Daily Drawdown (equity & balance based): 5%
• Minimum Trading Days: 5
• Up to 1:200 Leverage
• 80% Profit split, 90% with scaling
• Withdrawals every 14 days
• News trading allowed
• EA trading allowed

Royal Challenge Price

Scaling Plan

The Royal challenge scaling plan works the same as the standard challenge scaling plan. It has the same requirements to scale up every 3 months, and increases by 25% of the original balance each time.

Payout

The first payout for royal accounts can be requested 30 days after the first trade is placed, and then subsequent payouts are biweekly.

The Funded Trader Knight Challenge

The key details for the TFT Knight challenge are:

• No time limits
• Profit Target: 10%
• Maximum Drawdown (trailing): 6%
• Daily Drawdown (equity & balance based): 3%
• Up to 1:30 leverage
• Profit Split: 80%, 90% with scaling
• Payouts every 7 days
• News trading allowed during evaluation, not allowed on funded account
• EA trading allowed
• Weekend holding allowed

Prices

The TFT Knight Challenge is available in account sizes from $25k to $200k, with the evaluation fee being refunded with the first profit split from the funded account.

General TFT Details

News trading

News trading is not restricted on challenge accounts, but on some funded accounts, it is not allowed. On regular standard and regular rapid funded accounts, you can’t trade within 2 minutes before or after red folder news events. This includes opening and closing market orders, and any stop losses or take profits being triggered. If you breach this rule you will be issued a warning and have any profits made during the time window removed, and on the 3rd breach of this rule you will lose your account.

Spreads and commissions

The Funded Trader charges $7 per lot commissions, with raw spreads.

Maximum Account Allocation

There is no limit on the number of accounts you can have, but the maximum original value of your accounts can’t exceed $600k. However, this can be increased to a maximum of $1.5 million with scaling up.

Withdrawal Methods

TFT offers payouts from Deel, as well as BTC, ETH and USDC crypto

Competitions

The Funded Trader runs monthly trading competitions which are free to enter, offering cash prizes and free challenges to winners. This month the first prize is $6k cash and a 200k royal challenge, with prizes all the way up to 50th place. These competitions are free to enter, with maximum daily drawdown of 5% and max total drawdown of 10%. The aim is to receive the highest return in the month without breaking the drawdown rules. This is great to test out the TFT trade hub platform, and you can even earn some free challenges if you do well.

Future Features

The Funded Trader is planning on bringing out trading accounts directly through TradingView and an instant funding model. Make sure to subscribe as I’ll be covering all important changes to The Funded Trader in future videos.

Conclusion

So, which The Funded Trader funding model, if any, is right for you? The most important question is whether balance only based daily drawdown is necessary for you.

If this is the case, the choice is between the TFT rapid challenge and FTMO. The rapid challenge does have lower maximum drawdown so therefore lower true funding, but with it you can hold trades overnight unlike FTMO and the 0 minimum trading days compared to 10 is a great benefit too. The rapid challenge is also cheaper than FTMO, even more so with 7% off using discount code TPJ.

If you don’t mind equity and balance based drawdown, the Standard and Royal challenges offer higher daily and maximum drawdown, meaning higher true funding. Their main competition is My Forex Funds which has a lower phase 1 drawdown to profit target ratio and low prices. But with discount code TPJ, the 400k standard account comes in significantly cheaper than 2 MFF 200k accounts, if you don’t mind the extra 2% phase 1 profit target. The Funded Trader also has better trade execution than My Forex Funds, as MFF’s average slippage of 0.4 pips can hurt traders with small stop losses. If this makes you choose The Funded Trader, I’d recommend the standard challenge over the royal challenge. it is slightly more expensive, but the drawdown to profit target ratios are similar, and the extra drawdown is very beneficial, especially given that daily is based on equity and balance so you want it to be high. If you want an alternative with no time limits for the evaluation, I’d recommend Funded Trading Plus, make sure to watch my full review of it and use discount code TPJ10 for 10% off.

Thanks for reading, if you want to see more prop firm reviews like and subscribe and feel free to comment on what you think about TFT and which prop firm I should review next!