Is funded trader real or fake? (2024)

Is funded trader real or fake?

About Virtual Funds

Payout Process Overview

Reviews of trader's accounts are conducted before processing payouts, which currently are available through Rise (Riseworks) and Plane (previously Pilot.co). Payout Processing Times: Standard, Rapid, Royal, Knight, & Dragon Challenges: 3 to 5 business days from request.

The Funded Trader offers a max profit split of up to 90/10. Once funded traders achieve profitability, they can request payouts in the form of cryptocurrencies or bank transfers via Deel.

Risk of Losing the Account: Funded trading programs set stringent rules and restrictions for traders. This means limited trading strategies and specific risk management guidelines. While these rules are in place to manage risk, they can also restrict flexibility.

The Funded Trader challenge and funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers. Therefore no real money is ever traded as no orders are ever executed in live markets, they are simulated orders in a simulated environment.

Retail prop traders will trade in demo accounts, making all profits and losses theoretical, meaning they are not liable for any losses. So, what happens if you lose money on a funded account? Traders who violate the maximum drawdown rule lose access to the account and must pay and pass the challenge again.

Pros. Getting funded by a prop firm has significant advantages such as: You get access to significant trading capital that can get you bigger profits compared with your own small account. You do not risk your own money (outside of evaluation/entry fees).

Statistics on Funded Trading Payouts and the 1% Myth

While trading is no cakewalk, the actual success rate might be closer to 5%. So, it's not quite as exclusive as you might have thought. For instance, the average payout for funded trading with The Funded Trader (TFT) is around $7,000.

It typically takes around 4-5 months to become a prop firm funded trader, if you're a consistently profitable trader. Some traders can achieve this much faster by using increased risk. However, the likelihood of failing the trading challenges would be increased.

Which broker does a funded trader use?

Funded Trader uses the Metatrader 4/5 platform, which is the most common choice for Traders and Brokers worldwide. We want to give our Traders the most Professional Trading environment and this is it.

Come celebrate with The Funded Trader and get your share of over $70 million in payouts this year. Join more than 30,000 members who now enjoy another source of income as traders.

The prop firm space has been exceedingly volatile over the last few months, with a number of the most known prop firms being shut down or ceasing operations. In March 2024, The Funded Trader (TFT) ceased trading and cancelled their agreements with all traders in their books.

We see the trader in you

Joining the programme is 100% free and incurs no registration or membership fees*.

Being classified as an independent contractor ultimately means that a funded trader will be taxed as a self-employed individual. Profits from any funded trading activity will reflect on a Schedule C with your form 1040 tax return. A Schedule C is the profit and loss from any business activity.

The Funded Trader was Founded by Angelo Ciaramello, Blake Olson and Carlos Rico Jr.

Check with your local council

If you have more than one council, choose the county council. Search the council website for 'approved traders' or 'Trading Standards'. Trading Standards is a council department that makes sure companies don't break the law when selling to customers.

Are funded trading accounts legit? No funded trader accounts are not real accounts. They are demo accounts where you are not trading on legit markets. You are trading on fake prices that closely mirror the underlying market.

Without the anxiety of trading with your own money, you're free to just focus on the trades. This is different from trading on your own when withdrawals will reduce your market buying power. With a fully-funded account, profits don't come out of your overall investment.

Can someone steal money from my trading account?

Brokers can absolutely steal your money, although it isn't common.

From the time that it takes to start trading to when you are in a position to take a funding challenge, it's a minimum of 18 months. 6 months of learning and testing, and 12 months of live trading.

The same study found that the majority of trades, up to 80%, are unprofitable. While some day traders end up successful and make a lot of money, they are the exception rather than the norm. If you want to try day trading, start small and do not commit your entire investment account.

Performance-based fees: Most prop trading firms charge a performance-based fee on funded accounts. This fee is typically a percentage of the profits generated by trader on the account. For example, a firm might charge a 20% performance-based fee.

The combined total of all funded accounts, whether they are from the Dragon Challenge or from the Standard, Rapid, Royal, or Knight categories, must not exceed $600,000. Acquiring Funded accounts over that limit will be placed on hold until previous Funded accounts are breached.