Pros
Generous Profit Splits
Flexible Account Sizes
Diverse Trading Instruments
Supportive Community
Clear Evaluation Process
Accessible Customer Support
Educational Resources
Refundable Initial Fee
Cons
Strict Risk Management Rules
Limited Trading Days
No Expert Advisors Allowed
Ceo
Angelo Ciaramello
Platform
MetaTrader 4, MetaTrader 5 and cTrader
Broker
ThinkMarkets, EightCap
COUNTRY
United States
ESTABLISHED
May 2021
Table of Contents
๐ Introduction to The Funded Trader
The Funded Trader: Established in May 2021 by CEO Angelo Ciaramello, is a proprietary trading firm based in the United States. The company collaborates with brokers like EightCap and ThinkMarkets, offering trading opportunities on platforms such as MT4, MT5, and cTrader. The Funded Trader aims to assist passionate and experienced traders in achieving success by providing funds and allowing them to trade various financial instruments, including forex pairs, commodities, indices, and cryptocurrencies.
๐ค Meet Angelo Ciaramello, the CEO
Angelo Ciaramello, a 24-year-old entrepreneur from New Jersey, founded The Funded Trader in 2020. Starting as a startup gamifying capital markets retail trading, Angeloโs vision was to create a platform where individual traders compete to get funded and climb the rankings leaderboard. His success was recognized when he was named one of the top 25 Financial Technology Leaders of New Jersey in 2022.
๐ฏ The Funded Trader Standard Challenge
Overview and Types
The Standard Challenge provides traders the opportunity to manage account sizes ranging from $5,000 to $400,000. Divided into Regular and Swing types, it aims to identify disciplined and profitable traders.
Evaluation Phases
- Phase One:Profit target of 10%, 5% maximum daily loss, and 10% maximum loss. No maximum trading day requirements.
- Phase Two:Profit target of 5%, 5% maximum daily loss, and 10% maximum loss. Minimum three trading days required.
Scaling Plan
Traders becoming profitable for at least two out of the last three months become eligible for a 25% account size increase. Profit split increases to 90% after scaling for the first time.
Trading Rules & Objectives
- Profit Target:10% for Phase 1, 5% for Phase 2. No specified profit targets for funded accounts.
- Maximum Daily Loss:5% (6% with Add-on).
- Maximum Loss:10% (12% with Add-on).
- Minimum Trading Days:3 days for each evaluation phase.
- No Martingale, No Weekend Holding, No Expert Advisors.
๐ The Funded Trader Rapid Challenge
Overview and Types
The Rapid Challenge allows traders to manage accounts ranging from $5,000 to $200,000, with Regular and Swing variations.
Evaluation Phases
- Phase Oneentails aiming for an 8% profit target, with a maximum daily loss capped at 5% and a maximum overall loss of 8%. There are no specific requirements for minimum or maximum trading days.
- In Phase Two, the profit target is reduced to 5%, while maintaining the same maximum daily loss limit of 5% and maximum overall loss limit of 8%. Similar to Phase One, there are no constraints regarding the minimum or maximum number of trading days.
Scaling Plan
Traders reaching a profit of 10% or more within a single profit split period become eligible for a 10% account increase each time withdrawal exceeds 10% of the initial balance. Profit split increases to 90% after scaling for the first time.
๐ฐ Financial Aspects
Profit and Loss
Traders can earn a profit split of 80%-90% based on account type, with varying profit targets and daily loss limits.
Fees and Payout
Initial fees range from $189 to $399, refundable upon successful evaluation. Monthly subscription fees (ranging from $145 to $325) cover platform access, data feeds, and tools. Payouts occur monthly, and withdrawals can be made at any time.
Funding Process
Traders must pass an evaluation, meeting profit targets within set time frames. Funded accounts range from $25,000 to $400,000, with flexible lot size limits and leverage up to 1:200.
โ๏ธ Risk Management and Trading Rules
Risk Management Strategies
Strict risk management rules include a 2% maximum daily loss and a 6% maximum drawdown to prevent excessive risk-taking.
Trading Rules
Traders must follow specified trading days and hours, avoid weekend and news trading, adhere to time limits for holding positions, and refrain from using Expert Advisors.
๐ค Support and Community
Customer Service
The Funded Trader offers 24/7 customer support through the dashboard, email, and Discord, known for quick responses and issue resolution.
Community and Events
A supportive community and regular events, including trading competitions, contribute to a vibrant and interactive environment. Educational resources, such as webinars and videos, help traders improve their skills.
๐ Reviews and Transparency
Reviews
Positive reviews on Trustpilot highlight the platformโs transparent evaluation process, helpful customer support, and the opportunity to earn profits without risking personal capital.
Transparency
The Funded Trader maintains transparency in pricing, rewards, and the evaluation process. Clear guidelines, a 5% maximum daily loss, and 10% maximum loss rules ensure a fair evaluation process.
Pros and Cons
Pros
Generous Profit Splits:Traders can enjoy profit splits ranging from 80% to 90%, providing an opportunity for significant earnings.
Flexible Account Sizes:With account sizes ranging from $5,000 to $400,000, traders have the flexibility to choose a size that suits their trading style and goals.
Diverse Trading Instruments:The Funded Trader allows trading across various financial instruments, including forex pairs, commodities, indices, and cryptocurrencies, providing ample opportunities for diversification.
Supportive Community:Traders benefit from an active and supportive community within The Funded Trader, where they can share knowledge, strategies, and experiences.
Clear Evaluation Process:The evaluation process is transparent, with clear guidelines and rules for traders to follow, ensuring fairness and consistency.
Accessible Customer Support:The Funded Trader offers 24/7 customer support through multiple channels, providing assistance and resolving queries promptly.
Educational Resources:Traders have access to a range of educational materials, including webinars, videos, and articles, to enhance their trading skills and knowledge.
Refundable Initial Fee:The initial fee is refundable upon successful completion of the evaluation process, offering added security and peace of mind to traders.
Cons
Strict Risk Management Rules:The Funded Trader imposes strict risk management rules, including maximum daily loss and drawdown limits, which may constrain tradersโ ability to take risks and potentially limit their profitability.
Limited Trading Days:Traders must engage in a minimum number of trading days during the evaluation phases, which may restrict flexibility for those with other commitments or trading styles.
No Expert Advisors Allowed:The Funded Trader prohibits the use of Expert Advisors (EAs) during trading activities, which may limit traders who rely on automated trading strategies for their trading decisions.
Conclusion
In conclusion, The Funded Trader stands out as a reputable proprietary trading firm, offering a range of challenges, transparent processes, and a supportive community for traders to hone their skills and potentially earn substantial profits.
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Disclaimer: The information provided in this review is based on publicly available data and user feedback. It is essential that you conduct thorough research and exercise caution before making any financial decisions. Please note that these services or products are not affiliated with tradingservices.io.
