FundedX is more focused on experienced traders who want to show off their skills. This prop firm offers you the chance to trade up to $1 million and grow it up to $5 million. There is a pretty strict evaluation process you need to pass to get the funding account and start trading. Like every evaluation process, FundedX has rules and requirements you need to fulfill during the challenge.
- Fair profit share
- Raw spreads
- Excellent customer support
- Easy-to-use platform
- Lack of information about the company
- The evaluation process can be challenging for beginners
- Support is not available 24/7
FundedX Overview
FundedX is a relatively new prop firm according to the sources, so there’s not much information about the company’s background or license and regulation. This makes people reasonably suspicious about its legitimacy, but there are some real users’ reviews that claim that FundedX is legit.
FundedX User Rating
There are only 3 reviews for FundedX on Trustpilot, with all of them being positive. The trust score on Scamadviser for FundedX is 46. The negative highlights include the fact that the website is very new and that it has a low rank. Also, it states that the owner is using a service to hide their identity on WHOIS.
KYC (Know Your Client)
After you pass the challenge, you must pass a KYC screening. This means you’ll need to submit your government ID and provide proof of address that has been issued in the last 90 days. After you pass the KYC, you will be issued with your funded account.
Trading Platforms You Can Use at FundedX
You can use DXTrader and Tradelocker with FundedX. Tradelocker is a trading platform that’s super easy to use. It’s made to be simple and fun with many features so you can trade without any problems.
What makes FundedX different from other prop firms?
FundedX has a few unique features that set it apart from other prop firms, and those are:
Support – You get your very own personalized support and an account manager to help you through the trading.
Capital Scaling – You start trading from only $5,000, but you can scale up to between $1 million and $5 million.
Account Evaluation at FundedX
The FundedX Evaluation process consists of two steps. You must meet specific criteria to complete the challenge and qualify as a funded trader with FundedX.
The first phase is a phase where you need to achieve a specific profit target on the chosen funding level. The higher the funding level, the larger the profit target.
After completing the first phase, you’re moving to the second where you must demonstrate consistent trading performance. Make sure you focus on maintaining a persistent trading strategy, and risk managing.
There are several other rules you need to follow during both phases, maximum daily drawdown and minimum trading days. Here’s a detailed table on the challenge amount, prices, trading days, and targets:
| Challenge Amount | Price | Trading Period | Phase 1 Target – 8% | Phase 2 Target – 5% | Max Loss – 10% | Max Daily Loss – 5% | Minimum Trading Days | Split | Refundable Fees |
|---|---|---|---|---|---|---|---|---|---|
| 5K | $69.00 | Unlimited days | $400.00 | $250.00 | $500.00 | $250.00 | 3 Days | 90% | 115% |
| 10K | $129.00 | Unlimited days | $800.00 | $500.00 | $1,000.00 | $500.00 | 3 Days | 90% | 115% |
| 25K | $199.00 | Unlimited days | $2,000.00 | $1,250.00 | $2,500.00 | $1,250.00 | 3 Days | 90% | 115% |
| 50K | $299.00 | Unlimited days | $4,000.00 | $2,500.00 | $5,000.00 | $2,500.00 | 3 Days | 90% | 115% |
| 100K | $529.00 | Unlimited days | $8,000.00 | $5,000.00 | $10,000.00 | $5,000.00 | 3 Days | 90% | 115% |
| 200K | $989.00 | Unlimited days | $16,000.00 | $10,000.00 | $20,000.00 | $10,000.00 | 3 Days | 90% | 115% |
| 500K | $2,500.00 | Unlimited days | $40,000.00 | $25,000.00 | $50,000.00 | $25,000.00 | 3 Days | 90% | 115% |
| $1.0M | $5,000.00 | Unlimited days | $80,000.00 | $50,000.00 | $100,000.00 | $50,000.00 | 3 Days | 90% | 115% |
Meet the CEO of FundedX
Adrian Mudronja, also known as AJ Currency is a popular figure in finance and trading, who wants to teach people how to make their money grow. He helps people learn about money and trading through Forex Education Academy X, and Prop Firm Trading FundedX.
Tradable Assets
There are several tradable assets that FundedX offers. In this table, you can see which assets are available, the leverage and commissions:
| Asset Type | Description | Leverage | Commission |
|---|---|---|---|
| Forex Pairs | Variety of Forex pairs | Up to 100:1 | $7/lot |
| Commodities | Gold, silver, oil | Up to 40:1 | $0/lot |
| Indices | S&P 500, NASDAQ | Up to 20:1 | $0/lot |
| Cryptocurrencies | Bitcoin, Ethereum | Up to 2:1 | $0/lot |
FundedX Support
FundedX offers amazing customer support. There are several options available for you to get in touch with them like live chat, email, and a Discord group. As a little downside, the support working hours are from 8am to 5pm EST, Monday to Friday.
- Contact via email: [email protected]
- Discord group: https://discord.gg/TcJRKAakPr
Verdict
FundedX is an attractive opportunity if you’re looking to grow your trading potential. There are many options for you to increase your capital. If you’re a beginner, this prop firm might not be for you, because of the lack of educational resources. One thing you should consider is the limited information about the company. The reason behind that could be the fact that this prop firm is very young. The best way to see if you want to start trading here is to carefully check all the available information about FundedX and decide.
FAQ
Is FundedX Legit?
There is a lack of information about the company, but real user reviews claim that FundedX is legit.
What is the minimum payout at FundedX?
The minimum payout amount is over $1.
What is the minimum and maximum account size?
The minimum account size is $5000. The Maximum account size is $1 million, but you can request more funding which can go up to $5 million.
What is the maximum drawdown for each account?
The maximum drawdown on both funded and challenged accounts sits at 10%.
What is the maximum daily loss for each account?
The maximum daily loss is 5% for both accounts. The daily loss balance resets every trading day.
Does FundedX have customer support?
Yes. You can contact customer support via live chat, email, and Discord.
Who owns FundedX?
FundedX is owned by AJ Currency, headed by Adrian Mudronja.
Is there an inactivity period for my accounts?
Yes. The inactivity period is 180 days.
