Putting a few thousand dollars in a trading account and hoping for a few really high risk trades to play out isn’t the most sensible way to grow trading capital. With the forex market having such a low barrier to entry, so many traders around the world are overleveraging accounts with the hopes of reaching 6 figures.
What if you could just start trading a 6 figure trading account? This is where prop trading firms come in…
In this article we are looking at Ment Funding, a forex prop firm offering funding of up to $1,000,000. This firm is backed by Eightcap, a very well known name in the foreign exchange industry and is the only prop firm to date offering $1,000,000 with no scaling needed!
Ment Funding is quickly growing a name for itself in the industry. Let’s find out why…
Who Is Ment Funding?
Ment Funding was founded in October 2020 and originally created as an educational platform for forex traders looking to improve their skills in the markets. In June of 2021, the company went on to create the prop firm arm of the business and offer funding to profitable forex traders looking to scale their accounts.
The company is backed by Eightcap and offers a huge amount of funding, ranging up to $1,000,000 for traders! With a scaling model, great reviews and backing from a large organisation, this funding sounds like a no brainer, right?
As of April 2023, the company is still firing on all cylinders and going from strength to strength in the prop firm industry!
Getting Funding From Ment Funding
If you are wanting a funded account from Ment, it’s a fairly simple process. The funding is done on a challenge basis, much like the popular FTMO. You take a challenge with certain risk criteria and a profit target of 10%.
This is done on a demo account and can be completed as quickly as you would like.
If you pass the challenge, you’ll be awarded a funded account of up to $1,000,000. You can have unlimited trading accounts so the potential funding from the company is limitless.
If you fail the challenge, you would have to purchase a new challenge to get the opportunity to get funded.
Once funded, you will receive either a 75% profit split, or be able to compound your trading account to a larger balance.
With prop firms, I would always recommend withdrawing profits and putting the extra capital into your own trading account to compound there, instead of in the companies account.
Ment Funding Pricing – How Much Does It Cost?
The price is a one time fee, paid when you start your trading challenge. There is no guarantee that you will pass the challenge and most traders do fail when they are trying to receive funded accounts, so you must not risk what you cannot afford to lose.
The $25,000, the smallest funded account, is going to set you back $250 which is very affordable and competitive for that size funding.
Moving up, the $200,000 account will cost you $1,500, which again is fairly competitive as far as funding goes.
The largest account, the $1,000,000 account is going to cost traders $7,500 for the challenge. I would highly recommend not starting at this amount, at all.
You’re able to have unlimited funded accounts from the company so I’d certainly recommend starting with something smaller and using the profits to fund more challenges, rather than jumping straight in with the largest funding option.
Ment Funding Capital Scaling Program
Ment Funding does have a scaling system for profitable traders but it works much different from the large majority of our top prop firms.
For every 5% gain made on the account, your maximum allowed lot size per trade will be increased.
This means that in theory, the more profits you obtain, the faster it should be to grow your accounts and the profits should stay consistent with account balance.
To be allowed to increase your lot size, you must email the team to request permission. This is a fairly flawed system in my opinion and as the prop firm grows, I’m sure this will be made automatic or other scaling programs may be adopted.
If we compare this scaling plan to the likes of Lux Trading Firm, it’s not amazing. With Lux for example, every 10% of profits made on the account, the firm doubles your trading capital. This allows profitable traders to grow extremely fast and earn profits for themselves and the firm.
With Ment Funding, a slight increase in maximum lot size at every 5% is certainly good, but a much slower offering.
Is Ment Funding Different From Other Prop Firms?
Ment Funding isn’t really different from any of the top prop firms in the industry right now.
They are, to my knowledge, one of the only funding providers that works with a forex broker too, Eightcap, in this case. This is certainly a USP and may explain where the funding is coming from but for most traders this isn’t going to be a huge incentive.
The method to get a funded account from the company is fairly standard and is very comparable to the likes of FTMO. The initial funding is much higher than other offerings, where traders can come in at $1,000,000 in funding.
I know a few funded traders and I’m yet to see anyone trading such a large account so it’ll be interesting to see how many traders are offered this size funding over the next few months.
Is Getting A Funded Account From Ment Funding Realistic?
Now that we know the offering, are we going to be able to actually get funded? Well, yes. To get a funded account from Ment, you need to pass a one step evaluation.
This works the same as the majority of the industry leading funding companies, with you having to reach 10% profit, without violating 5% maximum loss and 5% maximum daily drawdown. You have no time limit on completing the challenge.
Once the challenge is complete, you will have your funded account and be able to trade live, immediately. You will need to stick to the same drawdown rules however. When trading, EA’s and algorithms are completely allowed, however, weekend holding is not.
The lack of weekend holding paired with the low 1:10 leverage does make it harder to get a funded account with Ment than it would with other companies like MyForexFunds.
This doesn’t make it impossible to get a funded account, but it certainly isn’t going to be the easiest platform to trade on.
The Drawbacks Of Ment Funding
Ment Funding has a huge offering and even just the level of funding they have is exponentially larger than most of our largest prop firms.
However, there are a few drawbacks that may need to be considered before attempting to get funded by the company.
1. Low Leverage
Leverage is needed to open positions and scale into trades. The majority of retail traders trade with a leverage of 1:100 or higher, although this isn’t really all that safe. Ment will allow a leverage on forex pairs of up to 1:10. This will make it extremely hard for traders opening trades with smaller stop losses, like scalpers or day traders.
It’ll still be very much possible to get funded but I would like to see a higher leverage offered.
2. No Weekend Holding
Having the ability to hold trades over the weekend is extremely important for day traders and swing traders as their positions are not usually closed within the same trading week.
However, Ment Funding doesn’t allow trades to be open over the weekend, meaning you must be flat by market close on Fridays. This won’t be an issue for scalpers or intraday traders, but a red flag for day traders looking for funding as this will greatly decrease their chance of success.
3. New To The Industry
When choosing financial companies, whether a prop firm or a broker for instance, it’s incredibly important to be working with a reputable company. Reputation is built on trust over time and you have to be able to ensure that the prop firm you’re working with will treat you properly.
One drawback with Ment Funding is the fact the company is extremely new – with very few reviews online. This isn’t the end of the world and certainly doesn’t imply that they are not reputable, but it’s something to be cautious of, until more reviews come in over the next few months.
Ment Funding Reviews – What Do Traders Think?
Ment Funding is a very new prop trading firm, so we can expect a low amount of reviews in forums. In fact, I would be very suspicious of the company if they had 100+ reviews overnight.
The company does have a public Trustpilot profile, meaning we can see the experience traders are having with the funded accounts being offered.
There are a handful of extremely positive results, with traders being very happy with the company, the funding and the support given.
We will take these positive reviews with a pinch of salt, purely because we aren’t able to come to any type of meaningful conclusion from just a few results.
On a positive note, I wrote this review initially nearly 2 years ago and the positive reviews have been slowly and steadily increasing – the sign of a legitimate business!
In Summary – Is Ment Funding Legitimate?
In conclusion, Ment Funding is a legitimate funding option for profitable forex traders looking to grow their capital under management.
The offering is great and the amount of capital being offered to traders is much higher than competitors are offering within the industry. The trading conditions are currently slightly harder to work with, due to lower leverages and no weekend holding.
It’s too early to make a full judgement on the company.
As more reviews come in over the next few months, it’ll be easier to make a more informed decision as to the legitimacy of the funding.
For now, I’d recommend sitting on the sidelines and using one of the other top prop firms like MyForexFunds, until we know more.
If you have any experience with Ment Funding, please do let me know your experience in the comments below.