FunderPro is a prop trading firm known for its tailored funding solutions for businesses. At its core, it offers a funded trader program and allows traders to manage up to $200k in funds. In this review, we will explore FunderPro’s funding options, fees, trading regulations, and all pertinent information you need to know about the firm.
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Founded in 2022, FunderPro is a fast-emerging proprietary trading firm led by Gary Mullen as its CEO. The trading firm enables its traders to handle accounts of up to $200,000 where they keep 80% of the profits.
FunderPro came to market through Red Acre Group, which offers innovative business solutions in fintech and blockchain technology by minimizing the challenges needed to run a business through various strategies.
The platform offers many attractive features some of which include the following.
- Covering ALL losses.
- Uncomplicated trading rules.
- Unique two-phase evaluation system.
- No time limits.
- Weekly pay-out schedule.
- A refundable fee of the initial fee.
- Instant account access once you sign up.
Rating
Though new in the market, FunderPro receives a rating of 4/5 based on the following metrics.
- Regulation and Compliance. FunderPro has partnered with ThinkMarkets, a regulated FX broker authorized and regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Investments and Security Commissions (ASIC) in Australia, and the Financial Services Authority in Seychelles.
- Credibility. FunderPro has great testimonials and reviews from the trading community and its status as the official sponsor of Ollie Bearman, the F2 star has reinforced its credibility.
- Disclosure. FunderPro remains transparent regarding its policies, fees, terms, and risk management practices, ensuring clarity. All its dealings can be found on the Terms and Conditions page.
- Trading rules. FunderPro has scraped all unnecessary trading rules, only maintaining its Consistency Rule.
- Trading instruments. FunderPro includes all major instruments in its offerings including Forex X, Stocks, Commodities, Indices, BTC, and Crypto.
- Support. Customer support at FunderPro is available 24/7. Traders can email, call, or check its FAQ and blog pages if faced with challenges.
- Trading Platform: FunderPro’s TradeLocker trading platform is a user-friendly web-based platform that allows seamless access to global trading platforms.
- Security of Funds: FunderPro has put in place security measures to protect traders’ funds and to ensure their information is not lost, altered, stolen, or accessed in any unapproved way.
Exclusive Offer
FunderPro offers traders a Funded Account Challenge Offer where traders can grow their skills without risking capital. For example, one can start their trading career with $25,000 at $249 and receive back a refundable fee of $249. This offer applies to all their accounts and is refunded once they successfully complete Phase 2.
FunderPro Trading Features
FunderPro has several innovative features that make it stand out from other trading platforms.
- Real capital accounts. FunderPro offers its funded traders the ability to trade on live accounts with the firm’s capital.
- Performance dashboard. FunderPro ensures its traders are set up for success with its analytical dashboard that includes all the information they need to make insightful decisions.
- An affiliate portal. Affiliates have fully integrated portal affiliates to access their referral link and track their performance and manage any campaigns they undertake.
- Quick weekly payouts. Funded traders enjoy weekly profit payouts, with the first 80/20 profit split available 7 days after your first live trade. The weekly payments are processed in less than 24 hours and received within 24 to 48 hours.
- Traders’ leaderboard. FunderPro includes a public leaderboard where traders can showcase their success, become one of the Top 10 Pro traders, and earn rewards from different contests.
- Top-notch support. FunderPro has a top-notch customer care team, multi-language support agents, and trade desk technicians available 24/7 and able to answer their queries when needed.
Funded Accounts
Once a trader passes the evaluation process and becomes a funded trader, the Funded Account is connected to a live STP/ECN trading account with real capital and they can start trading with the same account balance used during the evaluation process.
For example, if the trader initially chose $150,000 they will manage a $150,000 funded account. To maintain the same status, the trader will have to meet the firm’s drawdown limits, the failure of which results in the account being disabled.
Traders receive an 89% profit by default or 90% if they choose the Add-On that accompanies the challenge offer selected. If the drawdown limits are adhered to and the Funded Account is profitable, the trader will receive their first payout. If successful, the trader can scale the account.
Pros and Cons
FunderPro has several advantages but as great as the firm is, it also has some drawbacks.
- Generous 80/20 split of profits
- Fast weekly payouts
- Different trading instruments
- Account can scale up to $5 million
- A refundable fee
- No trading time limits
- Live capital management
- The company is still new and not established in the market.
- Profit targets are not the best in the market.
- The evaluation process is not as simple for other traders.
What makes FunderPro different from other prop firms?
FunderPro makes trading simple. Not only is it the only prop firm to offer real capital funding, but the firm ensures traders receive the tools they need to scale. Traders can choose to take the 89% profit and go or stay and grow their funds, and the more they are consistent the more they can increase their funds up to $5 million.
FunderPro supports its traders by eradicating the fear of losing funds by covering all the losses.
Evaluation Metrics
One of FunderPro’s attractive features is an evaluation process not limited by time. Its evaluation process is as follows.
- Phase 1. The trader trades on a demo account with unlimited time to pass the firm’s criteria of a 10% profit target, maximum overall drawdown of 10%, minimum daily drawdown of 5%, and minimum 5 trading days.
- Phase 2: The verification process does not include any time limits and the trader has to prove their ability to consistently bring in profits. The firm’s Consistency Rule must be adhered to. For this rule, the trader’s total profits on their best day must not exceed 60% of their total profit earned. Other phase 2 requirements to be met include:
- A 10% maximum overall drawdown.
- An 8% profit target.
- A 5% maximum daily drawdown.
- Minimum trading days of 5.
Traders who successfully complete Phase 2 become FunderPro traders and are required to remit KYC documents that show proof of identification and proof of address. If the account is verified, the challenge will be complete and the trader will receive a certificate of completion and a live account with an STP/ECN broker.
Meet the CEO
FunderPro’s CEO and co-founder Gary Mullen has experience and deep knowledge in fintech and trading and is using knowledge to transform how traders understand the market and access capital. Gary has a wealth of experience that has enabled him to find innovative solutions in marketing solutions and is working to build FunderPro into a world-class trading propriety firm.
Which broker does FunderPro use?
FunderPro recently partnered with ThinkMarkets, an award-winning CFD trading broker that trades in over 4,000 trading instruments. The broker is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Investments and Security Commissions (ASIC) in Australia, and the Financial Services Authority in Seychelles. ThinkMasters maintains high standards in the market and is regularly audited.
Trading instruments
FunderPro has diversified its trading options to include forex trading, metals, market indices, cryptocurrencies, and commodities. Traders can choose what they are most comfortable with or explore all the instruments.
Trading fees
FunderPro’s trading fees vary but its costs depend on the account tier chosen by a trader.
- A $25k account costs $249
- A $50k account costs $349
- A $100k account costs $549
- A 150k account costs $749
- A $200k account costs $989
Any profits received are shared 80/20 with the trader receiving the largest portion.
Support
FunderPro ensures its traders have the information they need to understand its trading policies better. Its FAQ section answers important questions and should a trader need more help, they can contact the customer support team by email at [email protected], call the phone at +356 20990009, or submit a ticket on the website.
Verdict
It is evident that FunderPro, though new in the market, has a lot to offer. The platform offers traders the opportunity to learn slowly, trade using live-funded accounts, and retain a massive portion of the profits.
FunderPro is evening the playing field and through its two-phase evaluation system is making trading available for many traders. The firm’s partnership with a top-tier broker cements its place in the market and gives its traders an enhanced experience.
FundingPro provides its traders with the resources for risk management but trading is still a risky venture and understanding the markets is an added advantage. If you are a beginner looking to start your trading journey, this platform is a great place to start.
FAQ
To become a funded trader on FundPro, you must successfully pass the two evaluation phases.
There is no limit to the number of challenge accounts you can have but active accounts require a combined starting equity of at most $200,000.
Yes, once you have passed the two-phase evaluation.
You can request a payout every week once your balance exceeds $100 in profits and withdraw the profits in BTC directly to your wallet only if your account is verified.
FunderPro accepts all major cards and crypto payments.
Yes, FunderPro has a free trial on the challenge and you can sign up for as many free trials as you need to get acquainted with the rules.
