PROFUND888
Pros
- 1 STEP FUNDING
- RELAXED RULES
- EIGHTCAP PARTNERSHIP
- EDUCATIONAL COURSE
- 80% PROFIT SPLIT
Cons
- BRAND NEW
There are now a staggering 50+ prop firms in the online forex prop trading industry, presenting traders like us a huge amount of opportunity and more choice than ever before!
As much of a positive as this is, it’s making it harder than ever before to choose a prop firm to be working with as you need to select the right prop firm for you and your trading style.
In this article, we are reviewing ProFund888 – a brand new prop firm with an interesting offering. We’ve been keeping an eye on this prop firm through their launch to provide the most in depth review for traders.
So, let’s find out more…
Lux Trading Firm
Lux Trading Firm are a highly rated prop firm offering initial funding of up to $1,000,000 with a 75% profit split.
They offer an amazing scaling program up to $10M, with multiple industry-leading features such as their unique offering to trade on TradingView’s charts, large selection of CFD’s, 500 Crypto’s, 12,000 Stocks, Elite Packages, and no time limits make it the perfect funding option!
Lux Trading is one of the few online prop firms offering real trading capital, and trading with a regulated A-book broker!
- Real Money Funding
- Brick & Mortar Business
- Great Reputation
- Funding Up To $10,000,000
Who Are ProFund888?
ProFund888 is a new prop firm, launching in August 2023, with funded trading accounts of up to $500,000!
We’ve known about ProFund888 prior to their launch and have been keeping an eye on the progress over the last 6 months, or so.
They’re offering either the traditional 2 step challenge and verification funding model we have seen before, or a 1 step funding model for traders looking to get their funded accounts much faster.
With great profit splits, high levels of capital and fairly relaxed rules, it sounds like an interesting proposition, right? Let’s find out more…
How Do You Get Funding From ProFund888?
Actually getting your funded trading account seems like a very straightforward process but many prop firms purposely complicated this step.
Here’s how to get funding from ProFund888:
- Choose whether you’re doing a 1 step or 2 step challenge.
1 Step Challenge:
- Purchase the 2 step challenge with the amount of capital you would like to trade.
- Trade whilst staying within the trading rules, until you reach 10% profit on the account.
- You’ll be sent your login details for the funded trading account.
- Continue to trade, take monthly withdrawals and stay within the maximum loss limits.
2 Step Challenge:
- Purchase the 2 step challenge with the amount of capital you would like to trade.
- Trade whilst staying within the trading rules, until you reach 10% profit on the account.
- New account details will be sent to you.
- Trade whilst staying within the trading rules, until you reach 5% profit on the account.
- You’ll be sent your login details for the funded trading account.
- Continue to trade, take monthly withdrawals and stay within the maximum loss limits.
It’s that simple! No convoluted rules or back and forth communication with the firm!
What Makes ProFund888 Different From Other Prop Firms?
ProFund888 is brand new, so I’m sure they have not yet released all of the features we can expect to see over the next few months. Therefore, this may be premature.
However, there certainly are some selling points worth calling out…
1 Step Funding
Most prop firms only offer the 2 step funding we’ve seen FTMO pioneer all those years ago, whereas ProFund888 offers 1 step funding too.
This removes the ‘verification’ part of the challenge, making things much easier for traders to pass and obviously, much faster!
Relaxed Ruleset
The trading rules offered are very relaxed compared to most prop firms. The fact traders are allowed to trade news, use EA’s and even copy trades is a huge selling point for many traders!
Educational Program
ProFund888 is one of the only prop firms I have seen that offer a training/educational program. This is such a selling point as many traders are already paying third parties to enroll in training programs. Bringing the two together will be such a time saver for newbie traders that can learn whilst growing their funded capital.
Is Getting Funding From ProFund888 Realistic?
Time and time again we have seen prop firms with outstanding offerings but it’s been relatively impossible for traders to achieve those targets and get funded.
However, obtaining a funded trading account from ProFund888 seems achievable, especially when compared to the industry landscape.
Firstly, you’re allowed to trade the news, use EA’s, use any indicators you choose and even copy trades from other traders!
Secondly, you’ll have access to 1:100 leverage. We know leverage is a double edged sword but if you ask me, I’d rather have the option to use it if I need to, than not at all!
Thirdly, you have an unlimited amount of time to complete the trading evaluation stages. This is a gamechanger for traders as many traders fail to get funded as they’re rushing trades and run out of time with some of the other prop firms.
Lastly, you have a maximum drawdown of 6% and a maximum daily drawdown of 5% on the 1 step evaluation. On the 2 step evaluation you’ll have a daily limit of 4% drawdown and a total limit of 8%. This is fairly reasonable and certainly very comparable with other prop firms.
If you’re a consistently profitable trader that can manage their risk and stay within the ruleset – this shouldn’t be an issue!
ProFund888 Reviews – What Do Traders Think?
Typically, we like to look at reviews from other traders and gauge the experience they are having with a prop firm, alongside ours.
You’ll see this being the case in all of our 50+ prop firm reviews.
However, we are writing this article on ProFund888’s launch day, meaning there are currently no reviews online from traders that have been using the prop firm to grow their assets under management. This isn’t a bad thing – in fact, I’d rather be seeing no reviews yet than suddenly hundreds of paid positive reviews as some prop firms have done in the past.
We are currently obtaining funding from ProFund888 and will keep this updated as a resource for your use over the coming weeks as the reviews start rolling in. It’ll be worth bookmarking this page and revisiting every few weeks!
ProFund888 Education Program
ProFund888 have a fairly extensive educational course for traders, through their sister company – Forex University.
The course has both a standard and a premium course, both encompassing different levels of education for their traders.
I haven’t yet seen any reviews of the trading academy online as I suspect this is launching in tandem with ProFund888, although I may be wrong!
ProFund888 Partnership With EightCap
ProFund888 is partnered with Eightcap for their liquidity, trading platforms and execution. This is common amongst the industry’s leading prop firms as Eightcap is a reputable broker that has long been working in the prop firm space.
This is a huge trust signal, being in partnership with such a long standing and reputable firm. It’s also a peace of mind to traders knowing that the prop firm cannot control trades or market conditions – the trades are just passed through through Eightcaps usual liquidity providers.
Through this partnership, you’ll have access to MT4 and MT5 – the world’s most popular trading platforms.
In Conclusion – Is ProFund888 A Legitimate Prop Trading Firm
In summary, ProFund888 is a legitimate brand new prop firm that will be one to keep your eyes on over the next few months.
The offering looks great and the partnerships only strengthen their trustworthiness! There are some great selling points and it’s clear that this firm will have thousands of traders in their ranks within the next few weeks.
We’ll be keeping this review updated every few weeks over the coming months, as the firm builds traction and as we get funded, to ensure you’re kept in the loop!
If you’ve already started trading with ProFund888, please drop us a message so we can include your feedback within this review!
