Funding Made Simple
Pros
- FUNDING UP TO $1,000,000
- GREAT SCALING MODEL
- 80% PROFIT SPLIT
- 1:100 LEVERAGE ON FOREX
- WEEKEND HOLDING ALLOWED
Cons
- BRAND NEW TO THE INDUSTRY
- SOME VERY NEGATIVE REVIEWS
- PROMOTION FROM INSTAGRAM TRADERS
- LIMITED WITHDRAWAL PROOF
In 2022, there are now over 30 reputable forex prop firms. These firms are offering retail traders the chance to trade on funded accounts, with no risk to them, in exchange for a percentage of the profits. Each of these new funding options have their own risks, benefits and suit different styles of forex traders so it’s important to understand the pros and cons.
Funding Made Simple is a new prop firm offering funded forex accounts to profitable traders. They have capital up to $1,000,000, a very simple funding model and an 80% profit split! We have extensively researched and tested Funding Made Simple too put this article together, so, let’s find out more…
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Who Are Funding Made Simple?
Funding Made Simple are a new forex prop firm, becoming more known in the industry in the tail end of 2021. FMS has a very simple model and works exactly as most of the industry leading prop firms
do. If you’re familiar with the challenge model of funding, you’ll understand how FMS works!
The company has one of the best offerings in the market, with 1:100 leverage on forex pairs, a very aggressive scaling plan, 80% profit split and up to 7 figures in funding! It sounds like an obvious choice, right? Let’s find out more…
Getting Funding From Funding Made Simple
FMS has a great range of funded accounts, ranging from $5,000 to $200,000. There is also the option to trade a 7 figure account, but this is reserved for traders that have had at least 2 payouts to their name from their other funded accounts.
If you’re familiar with some of the other forex prop firms, you’ll notice that the stages, rules and limits look very similar to the industry standard. In fact, even the cost per challenge is very competitive and similar to the industry averages.
In essence, funding works by passing a challenge & verification in order to prove your profitability within the markets and ability to stay within certain parameters. Once you have proved yourself on the accounts, you’ll be given the login details to your funded account! I cannot confirm, but I believe that the funded accounts are still demo accounts with no real live market access, but this isn’t a concern as this is also how FTMO work.
The accounts work exactly as your normal broker accounts would do, operating on the MetaTrader 4 platform. In the back end of the website, in your dashboard, you’ll have access to a range of metrics and statistics so you know exactly where you are for the month and what your payout will be looking like. I’d also recommend using a third party verification tool like MyFxBook to ensure that the results are correct.
What Makes FMS Different From Any Other Prop Firm?
There is nothing that sets Funding Made Simple apart from any of the other forex funded account options. This isn’t necessarily a bad thing though! The challenge business model does work and I think that FTMO is a reflection of that. If you take a look at some of the more complicated prop firms with weird rules, they typically don’t last. In fact, Funding Talent has actually just gone bust – which proves the benefits of using a simple funding approach.
Funding Made Simple does have some great features, however…
- 24/5 Customer support is available
- Crypto trading is allowed
- Forex, indices and commodities can be traded
- Leverage is 1:100 for forex trading, 1:40 on commodities, 1:30 on indices and 1:2 on cryptocurrency
- Weekend holding is allowed
- Overnight holding is allowed
- Withdrawals can be processed in crypto if requested
- Traders will receive a full refund on the challenge cost, once successfully funded
Is Getting Funding From Funding Made Simple, Realistic?
Getting a funded forex account from Funding Made Simple is very straight forward. It should be very achievable for the large majority of profitable forex traders. The company operates on the challenge based model, where you must compete a 2 stage challenge in order to get funded. Once funded, you’ll have an 80% profit split and no profit targets to hit.
Stage 1 – Making 10%
During stage 1, you’ll have 30 trading days to make a 10% gain on your account balance. You’ll need to trade for a minimum of 10 days (to prove it wasn’t 1 lucky win). You’ll also need to stay below a daily maximum loss of 5%, with a maximum total loss of 10%. Once you reach that 10% profit, you will now be on to stage 2. If you fail during this stage, you will lose your refundable fee and have to purchase again.
Stage 2 – Making 5%
During stage 2, you’ll have 60 trading days to make just a 5% gain on your account balance. All of the rules are exactly the same as in stage 1, however, you’ll have twice as long to complete the challenge and half of the profit target! This stage should be very easy for all traders and it’s simply to prove that the first stage was not pot luck.
Stage 3 – Funded!
Now you’re a funded trader! You’ll have to stick to the maximum loss and daily drawdown rules, but there is no longer a profit target. When you do reach 10% profit on the account, the team will double your funds, all the way to $1,000,000!
Is This Realistic?
It’s certainly realistic but it’s not going to be easy. It’s not a surprise that a large amount of traders applying for funded accounts will lose during the challenge process. Challenge based models are great for testing your ability and skills as a trader, but they are not the easiest way to get funded.
If you’re looking for an easier way to get on a funded account, there are a few companies that actually offer instant funded accounts. DT4X Trader and MyForexFunds do offer instant funded accounts where there is no challenge needed – which is going to be much faster than going through a 2 stage challenge!
Funding Made Simple Reviews – What Do Traders Think?
When we review forex prop firms, we always like to look at the experience other traders are having, incase ours is wildly different. You can usually get a great gauge from looking on forums like Babypips and ForexPeaceArmy.
Funding Made Simple has an Excellent rating on Trustpilot, with 4.3/5 stars and over 80 reviews! This is great to see that so many traders are happy with the service and funded accounts being offered. However, there is also 18% of reviews that are very bad, which is worrying. It’s actually very strange to see such a divide between very positive and very negative reviews.
In fact, I found it strange that a company only just entering the market has so many reviews, straight away. I decided to look into some of these reviews a bit further…
There are a lot of extremely negative reviews and some vague positive reviews too. Not only that, reviewers are alleging that the company is being ran by Raul Gonzalez, a ‘Instagram Trader’ with a huge following. The company is also being promoted apparently on Mamba Fx’s YouTube Channel. Nonetheless, it’s strange to see and worrying that there are already so many awful reviews.
I personally put this down to the fact the company is extremely new and there are teething issues. For the moment, I would sit on the side lines and use a more well respected prop firm like MyForexFunds or FTMO, then circle back to FMS in a few months time.
Funding Made Simple Scaling Plan
It isn’t the end of the road when you obtain a funded forex account. In fact, you need to be trading with one of the firms that offers a scaling plan. DT4X were the first to bring out scaling plans and now it has been adopted by almost every company in the industry!
Funding Made Simple offers one of the best and fastest capital scaling plans in the industry. For every 10% of profit you get on the funded account, FMS will double your trading capital. This means, in theory, that you would only need to make a 100% gain to go from $1000 in funded capital, to $1,000,000!
This, of course, is easier said than done, however, it’s a very competitive scaling plan and something for traders to bare in mind! This even blows the FTMO offering out of the water, as they are offering a 25% increase every 4 months.
In Conclusion – Is Funding Made Simple A Scam?
In summary, Funding Made Simple is most likely not a scam, but it’s too early to tell. The company is extremely new and I wouldn’t recommend using any forex prop firm that has been around for just a few months. The promotion from well known Instagram traders is worrying, along with a huge amount of very negative reviews. I’m sure this is just down to the age of the company but it definitely is something to be concerned about.
Personally, I’m sitting this out for the minute. There are plenty of highly rated forex prop firms with great reputations, many of which I can show withdrawal proofs from!
If you’re really looking to trade with FMS, I would recommend also using a second prop firm. In case the company goes under, or anything goes wrong, having your trades mirrored on numerous accounts is the best way to protect yourself from wasting months of hard work. Using a trade copier, maybe a good idea.
If you have any experience with Funding Made Simple, please do let me know in the comments down below!
