A new era in forex trading has ushered in lucrative opportunities and unprecedented challenges. In the dynamic universe of forex trading, the term “funded trader” has become a buzzword among trading circles.
The collective insights presented in this review of The Funded Trader compiled by Traders Union aim to untangle the myriad facets of prop trading, highlighting its importance and potential in the evolving financial ecosystem.
What is The Funded Trader?
Analyzed by TU experts, The Funded Trader collaborates with Eightcap, offering a diversified range of trading opportunities. Users can trade in currencies, indices, gold, and commodities, with the exclusive inclusion of cryptocurrencies during challenge sessions. The minimum and maximum leverage is set at 1:2 and 1:200, respectively, accommodating all trading styles, from scalping to copy trading (with certain restrictions).
The Funded Trader extends four account types with balances between $25,000 and $400,000. The initial fee, which is refundable, varies depending on the account type and balance. For instance, a Standard account with a $100,000 balance has an initial fee of $549. Traders commence with a profit split of 80%, which can ascend up to 90%, while the remainder goes to the prop firm. A robust KYC/AML protocol is followed, ensuring transparency and security. The Funded Trader also organizes regular promotions, offering discounts and special terms to traders.
Advantages and disadvantages of trading with The Funded Trader
TU experts say trading with The Funded Trader has distinct advantages and disadvantages.
- Four account types with various subtypes enable a wide range of balances.
- Traders can repeat challenges if they fail any phase.
- Trading platforms include MT4, MT5, and TradingView.
- Eightcap offers a diverse array of trading instruments.
- Traders are allowed to employ their advisors with no strategy restrictions.
- The profit split begins at 80% and can increase to 90%.
- The prop trading firm offers an intuitive, aesthetically pleasing, and ergonomic dashboard.
- This prop firm limits the range of instruments provided by Eightcap.
- Crypto trading is only available during challenges.
- Technical support is available exclusively in English, even though the website supports four languages.
Evaluation of the most influential parameters of The Funded Trader
According to TU experts, the Funded Trader scores well on several parameters:
- User Satisfaction: 7.73/10
- Regulation and Safety: 8.6/10
- Commissions and Fees: 8.4/10
- Variety of Instruments: 7.9/10
- Brand Popularity: 8/10
- Customer Support: 8.2/10
- Education: 8.7/10
Each parameter contributes to the overall trading experience, affecting traders’ decision-making and profit margins.
Trading conditions for The Funded Trader users
As TU experts suggest, the Funded Trader presents a unique set of trading conditions for its users. After choosing the type of account and paying the initial fee, traders gain the opportunity to complete the challenge. The initial fee can be paid using various methods, including bank cards, e-wallets, and crypto-wallets. The amount of leverage depends on the traded assets, with different leverages for currencies, indices, and commodities. Customer support is consistently available via phone, email, and live chat on the website.
The Funded Trader commissions & fees
According to TU experts, The Funded Trader does not charge its partners any trading fees. Eightcap sets the fees, while the platform earns a percentage of the trader’s profit. The platform also takes a refundable initial fee based on account type and balance. The profit split initially stands at 80/20, which can later increase to 90/10 in the trader’s favor.
In addition to The Funded Trader review, a thorough BlueFX review is published in the article posted by Traders Union. To read the detailed review, visit the official website of the Traders Union.
Forex prop trading, as illuminated in this review of The Funded Trader, presents a unique and profitable venture for traders yet requires a thorough understanding and careful navigation. The Funded Trader, with its distinct advantages and manageable disadvantages, establishes a lucrative platform for traders to diversify their portfolios and maximize their gains. For more comprehensive and detailed insights on prop trading, visit the official website of the Traders Union.