If you’re looking to take your trading career seriously in 2023 and level up, the chances are that obtaining prop firm funding it the best way to go.
If you’re unaware, prop firms offer forex traders huge sums of trading capital, in exchange for a profit split. There are currently 50+ prop firms in the industry… Although this is of great benefit for traders, it makes it incredibly hard to choose which prop firm you should be working with!
In this article, we are reviewing FunderPro. We recently obtained funding from FunderPro and want to breakdown our experience. It’s worth mentioning that if you’re a day trader or a swing trader, this is going to be an interesting read… Let’s get into it!
Who Are FunderPro?
FunderPro are a prop firm offering traders up to $5,000,000 in real capital, with a profit split of 80%, industry leading tools and unlimited time duration on challenges – making this a perfect option for many traders!
In fact, we had received a fair few emails about FunderPro before looking into getting funding from this firm ourselves.
There are a few good reasons why these guys are taking the industry by storm and raking up more positive reviews and coverage than any other firm.
We’ll touch on this in more detail later in the review, but it’s worth prefacing that FunderPro actually supply many of the top prop firms with their platform. They are the engine under the hood for huge firms with thousands of funded traders… As I say, we’ll break this down in more detail below and what this means for us as traders.
How Do I Get A Funded Trading Account From FunderPro?
So, what kind of funded trading accounts do FunderPro offer?
For reference, we’re showing the $100,000 account as in our experience, traders are less interested in starting with $25,000 or $50,000 in funded capital. If you’re interested, however, the accounts range from $25,000 to $200,000.
There is a very standard/simple 2 stage verification model with this prop firm… This is the tried and tested model that most firms follow now.
In phase 1, you’ll need to net a 10% profit without violating 5% daily drawdown or 10% maximum drawdown. You’ll have unlimited time to get this done! Also, a minimum of 5 trading days is placed on this part but it’s nothing to be concerned about as you just need to be opening trades on those days…
The cost for the $100,000 account is $550 which is fairly standard in the industry! Of course, this is refundable if you pass the challenge and get funded.
In phase 2, you will have an unlimited time duration to net 8% profit on the account, without violating 10% total drawdown of 5% daily drawdown. This is exactly the same setup at the phase 1, however, 2% reduction in profit target.
Once phase 2 is passed, you’re a funded trader! You’ll be automatically sent your login details to the live account so you can get trading.
At this point, the only rules to consider are the maximum drawdown and maximum daily drawdown rules. We also drop our risk percentage per trade massively once funded – something to bare in mind!
What Makes FunderPro Different To Other Prop Firms?
So, is FunderPro just a cookie cutter prop firm using the same rules, accounts and outsourced customer support as the rest of them? Well, no.
In fact, FunderPro actually built the tech stack which powers many of the industries leading prop firms.
If you’ve seen this dashboard on the right, you’ll know exactly which firms are using FunderPro as their tech setup.
For us traders, how is this a benefit? Why would we care who is using FunderPro’s tech kit?
Well, this proves two things to us…
- These guys understand the industry. They power the industry. They’ve got a huge amount of insight into which prop firms work, how they need to run and the operational planning behind making a firm a success, both from a trader and a corporate perspective.
- This isn’t a one man band, setting up shop in their basement. These guys have developers, in house teams, operational functions, sales, customer support and the infrastructure needed to make this a success for all parties involved.
It’s this exact same appeal that brings traders in their flocks to FTMO – we know they have the infrastructure and they won’t be packing up shop! The same applies here.
Also, FunderPro have no time duration on challenges. We’ll touch on this in more detail below but this is a huge USP and, in theory, makes it easier for traders to get funded.
Trade With Real Money, Not Demo Accounts
FunderPro fund traders (after the verification stage) with real capital accounts with an STP broker, rather than demo accounts.
If you’re unfamiliar with the prop firm industry, you may not be aware of the fact most of the best prop firms just offer traders demo accounts. You’ll still receive your payouts as per usual, however, you don’t have the live trading experience to obtain private investor capital or walk into an institution and secure a trading job.
However, if you’re trading a live capital account, as you would be with these guys, your track record holds a lot more weight!
Like I say, in the grand scheme of it, as long as your payouts come, it’s not overly important. However, it’s important to understand the benefits of having a live capital track record in your name!
Is Getting An Account With FunderPro Realistic?
Whatever offering and funding a prop firm offers is typically irrelevant in our eyes if the accounts are too hard to obtain. We’ve seen it time and time again by prop firms, offering earth shattering account sizes and scaling plans but the profit targets, time durations and drawdown limits are insane.
Luckily, getting funding from FunderPro is actually very straight forward and shouldn’t be an issue for profitable traders.
Firstly, you’ve got no time duration on challenges. This is HUGE! This makes FunderPro a via option for swing traders too, who typically struggle to find a suitable prop firm to be working with. They offer weekend trading and holding too, meaning there is no pressure at all to exit trades early or lose out on profits.
Secondly, you have access to 1:100 leverage. Now, I’m not going to sit here and tell you that over leveraging is ever going to be a good idea because it’s not.. However, having access to leverage and scaling into your positions can be a really effective risk management strategy and allow traders to obtain much better risk rewards. This wouldn’t be possible without a decent level of leverage!
In short, if you cannot get funding from FunderPro, you wouldn’t get funding from any prop firm at the moment as they’re offering something much easier than many!
The FunderPro Scaling Plan
The regular visitors amongst you will understand how much we value prop firms that have scaling plans. In fact, these prop firms our certainly our favourite to work with and for good reason!
There is very little point, in our opinion, trading with a prop firm that doesn’t offer scaling when there are some great scaling plans out there.
FunderPro is no exception. These guys offer scaling up to $5M of live trading capital, providing you are trading on one of their $100,000 or $200,000 accounts.
The account balance will be increased by a total of 50% every 3 months, providing you meet the criteria. This is fairly aggressive and one of the best we’ve seen since the DT4X days!
The requirements are laid out as such… You must net 10% consecutively for 3 months in a row in order to quality for scaling. This isn’t going to be an easy feat for most traders, but for those with extremely consistent strategies, this shouldn’t be an issue!
As always, focus on managing your risk first, not your profits!
Instant Account Access Feature
If you’ve attempted to get funded accounts previously, you’ll understand the frustration of ordering your challenge and not having the account for a few days.
Although this is very minor in the grand scheme of things, it is very frustrating and I’ve missed many good trading opportunities whilst waiting for my funded account to be sent to me.
FundedPro have a feature whereby you automatically get login details sent to you once the transaction is approved.
For me, due to the blockchain validation, this took around 1 hour from purchase to receiving the account – which is much better than a few working days!
FunderPro Reputation & Reviews – What Do Traders Think?
As mentioned above, FunderPro has been whitelabled by many of the worlds leading prop firms. They’re only just creating their own brand and joining the space with their own prop firm.
With that in mind, there still aren’t a great deal of reviews online for them directly. If the company had just popped up out of thin air, this would be slightly concerning. However, the fact that they’re already powering most of the industry puts our minds at ease – hence why we went for a funded account.
I will say that there are already a lot of reviews from traders on social media. This seems to be growing in numbers every time I take a look. All traders seemed to have a positive experience and showcased some nice withdrawals, so it’ll be worth running through some of these videos if you’re on the fence!
With this being said, we always keep our reviews updated so we will circle back in the near future and update the reviews as the company grows their reach within the industry.
Likewise, we’ll keep you updated on our experience, if anything changes along the way.
In Conclusion – Is FunderPro The Best Prop Firm For Swing Traders?
In summary, the FunderPro offering gets us really excited! We haven’t seen a company with such strong backing and operational functions enter the industry for a while now, so we have very high hopes.
These guys are offering scaling up to $5,000,000, an 80% profit split, STP accounts, real trading capital, high leverage, weekend trading and no time limits on challenges… What more could we want?
From our experience, this is going to be big contender in the market over the coming months both for swing traders and day traders looking for funded trading accounts.
Have you traded with FunderPro yet? Let us know your experience in the comments below and we’ll add them to this review!