Cove Funded Review
4.0

Cove Funded Review

✔️ TradeLocker available
✔️ 2 Phase challenge
✔️ Various payment methods
✔️ Maximum daily drawdown of 5%

Home » Cove Funded Review

Cove Funded is a relatively new prop firm. They have a method for determining who can trade with their funds, which involves an evaluation process. After you demonstrate your skills and complete the evaluation, you may be invited to join Cove Funded as a trader. You can trade with capital ranging from $6,000 to $200,000.

Cove Funded Prop Firm Review

Cove Funded Overview

Cove Funded is registered in Malta in 2022, and they’re working under the terms and conditions governed by the laws of Malta. Cove Funded states that their mission is to find promising traders to join their community. They recently moved from the Meta trading platform to a new one called TradeLocker.

Cove Funded Trading Instruments

Cove Funded didn’t mention what trading instruments they’re offering and what number.

Pros and Cons

Pros
  • Fair profit Share
  • Discord events
  • Discounts
  • Three challenge options
Cons
  • Not suitable for beginners
  • Limited information about the company

What makes Cove Funded different from other prop firms?

Like all prop firms, Cove Funded is trying its best to stand out in the industry. They’re offering simple and structured challenges with fast and simple funding options. They also cover all your losses during the challenge phase. 

Cove Funded Challenge Accounts

You can choose from three challenge accounts: One Phase, Two Phase, and Swing Account Challenge. Each of them consists of phases and different features and rules. All of them have the $6k, $15k, $25k, $50k, $100k, and $200k challenge amounts. The unlimited duration time and minimum 1 trading day is the same for all challenges. No news trading and weekend holds are available.

One Phase

Account DataProfit SplitMax Daily DrawdownMax Overall DrawdownAvailable LeverageChallenge CostRefundable  Fee
6k 85/15 up to 90/103%6%1:30$60$60
15k 85/15 up to 90/105%10%1:100$119
$119
25k 85/15 up to 90/105%10%1:30$190$190
50k 85/15 up to 90/105%10%1:30$295$295
100k 85/15 up to 90/105%10%1:30$500$500
200k 85/15 up to 90/105%10%1:30$980$980

Two Phase

Account DataProfit SplitMax Daily DrawdownMax Overall DrawdownAvailable LeverageChallenge CostRefundable  Fee
6k 85/15 up to 90/105%10%1 : 100$60$60
15k 85/15 up to 90/105%10%1 : 100$119$119
25k 85/15 up to 90/105%10%1 : 100$190$190
50k 85/15 up to 90/105%10%1 : 100$295$295
100k 85/15 up to 90/105%10%1 : 100$500$500
200k 85/15 up to 90/105%10%1 : 100$980$980

Swing

Account DataProfit SplitMax Daily DrawdownMax Overall DrawdownAvailable LeverageChallenge CostRefundable  Fee
6k 90/105%10%1 : 30$72$72
15k 90/105%10%1 : 30$143$143
25k 90/105%10%1 : 30$229$229
50k 90/105%10%1 : 30$354$354
100k 90/105%10%1 : 30$600$600
200k 90/105%10%1 : 30$1,176$1,176

Cove Funded Payment Options

You can use the following payment methods at Cove Funded: all major Credit/Debit Cards like Mastercard, Visa etc, and Crypto (You need to use ERC-20 standard).

If you’re using Crypto payments, you’ll have to wait for them to get verified on the Blockchain.

Meet The CEO

The CEO of Cove Funded is Stef Keppens (Instagram: @stef.meister). He also goes under the name “miestertrades”. He’s a popular Belgian influencer and content creator. He insists that transparency in capturing all the wins and losses is key to trading. It’s easier to stay motivated when you know that losses are also part of the trading and they don’t necessarily mean you’re a bad trader. The owners of Cove Funded are Stef Keppens and his partner that goes under the username @dovy.fx on Instagram.

Deposit and Withdrawal Methods 

Cove Funded doesn’t provide any information regarding deposit and withdrawal methods.

Support

You can contact customer support whenever you like via:

  • Live Chat
  • Email
  • Discord

Verdict

As a new prop firm, Cove Funded is constantly adapting and giving its best experience to its users. It’s tailored for the more experienced traders who are looking to strengthen their trading strategies, and profit. The challenges from $6k to $200k make it more than a good option. The evaluation process might be too strict and hard for beginners, but this doesn’t mean you can’t try if you wish. Just keep in mind that they lack educational content that can help you out. 

FAQ

Is Cove Funded legit?

Yes, Cove Funded is legit.


Can I use EA/Bot?

No. EA & Bots are not allowed.


What is the minimum number of trading days before payout?

The minimum number of trading days before the first payout is 7.


What is the maximum overall drawdown?

The maximum overall drawdown is 10%.

Profit Split: up to 90%
Accounts: $6k-$200k
Challenge: 2-phase, no time limit

4.0
Trust & Fairness
4.0
Games & Software
4.0
Bonuses & Promotions
4.0
Customer Support
4.0 Overall Rating

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Cove Funded Review
4.0/5