Founded in 2023, Mega Funded is a fresh entrant in the prop trading arena, known for its unique and trader-friendly policies. Despite its recent inception, it has garnered significant attention.
Operating out of Australia, Mega Funded is dedicated to equipping traders with powerful tools and opportunities to thrive in the financial markets.
This review will cover Mega Funded’s offerings, including its trading platforms, account options, support services, and special features.
Sign up with Mega Funded today and begin your trading journey.
Mega Funded Prop Firm Coupon Code
Currently, no coupon codes or promotional offers are available for Mega Funded.
About Mega Funded Prop Firm: A Snapshot
Official Name
The company’s official name is Mega Funded.
Address
Mega Funded’s address is Songino Khairkhan District 15th khoroo 13120, Ulaanbaatar City, Mongolia.
Year Founded
The firm was established in 2023.
Registration Location
Mega Funded is registered in Australia.
Ownership Details
Ownership information for Mega Funded is not disclosed or accessible at this time.
Trading Platforms at Mega Funded
Mega Funded provides its traders with access to two primary trading platforms: MT4 (MetaTrader 4) and DxTrade. MT4 is renowned for its user-friendly interface and extensive charting tools, making it a top choice for forex traders. DxTrade offers a robust and customizable trading environment, catering to traders who need advanced features and greater flexibility.
Available Trading Instruments at Mega Funded
At Mega Funded, traders can engage with a wide array of trading instruments, including:
- Forex: Major, minor, and exotic currency pairs.
- Indices: Leading global indices.
- Metals: Precious metals like gold and silver.
- Crypto: Popular cryptocurrencies.
This diverse selection allows traders to diversify their portfolios and capitalize on various market opportunities.
Payment Methods Supported by Mega Funded
Mega Funded facilitates a range of payment options to accommodate its global user base. Currently, traders can fund their accounts using:
- Credit Cards: Major credit cards for secure and convenient transactions.
- Cryptocurrency: Popular cryptocurrencies for quick and secure payments.
These options ensure flexibility and convenience for traders in managing their accounts.
Account Size Options at Mega Funded
Mega Funded offers multiple account sizes to suit different trading needs and financial commitments. The available account sizes are:
- $5,000
- $15,000
- $25,000
- $50,000
- $100,000
- $200,000
This variety allows traders to select an account size that best matches their trading strategy and risk tolerance.
Profit Splits at Mega Funded Prop Firm
Mega Funded offers competitive profit splits to its traders based on the challenge type:
- 1-Step Challenges: Traders are entitled to an 80% profit split.
- 2-Step Challenges: Traders can enjoy a 90% profit split.
These profit splits are structured to reward traders for their successful trading outcomes.
Profit Targets for Mega Funded Challenges
The profit targets set by Mega Funded differ based on the challenge type:
- 1-Step Challenges: Traders need to achieve a 10% profit target.
- 2-Step Challenges: Traders must reach a 10% profit target in Phase 1 and a 5% profit target in Phase 2.
These targets ensure traders maintain consistent and profitable trading performance.
Risk Management Limits at Mega Funded
Mega Funded sets specific daily drawdown and total loss limits to manage risk:
- 1-Step Challenges:
- Maximum daily loss: 4%
- Maximum total loss: 8%
- 2-Step Challenges:
- Maximum daily loss: 5%
- Maximum total loss: 10%
These risk management limits help prevent excessive losses and promote disciplined trading.
Trading Day Requirements at Mega Funded
Mega Funded provides flexibility in trading days for evaluation and funded accounts:
- Evaluation Accounts: Unlimited trading days, with a minimum of 5 trading days required.
- Funded Accounts: Unlimited trading days with no minimum trading days requirement.
This flexibility allows traders to meet challenge requirements at their own pace.
Challenge Steps at Mega Funded
Mega Funded offers two challenge formats for traders:
- 1-Step Challenges: Traders must meet one set of criteria for funding.
- 2-Step Challenges: Traders must pass two phases, each with specific profit targets and risk rules.
These challenges cater to various trading styles and preferences, allowing traders to choose based on their strategy.
Pricing Details for Mega Funded Challenges
The challenge costs at Mega Funded vary by account size and type:
- 1-Step Challenges:
- 15k: $100
- 25k: $125
- 50k: $250
- 100k: $450
- 200k: $900
- 2-Step Challenges:
- 5k: $50
- 15k: $100
- 25k: $150
- 50k: $280
- 100k: $475
- 200k: $820
This pricing structure enables traders to select the challenge that best fits their budget and trading aspirations.
Trading Commissions and Fees
Mega Funded charges a $7 commission per lot traded. This fee structure is competitive and designed to help traders manage their trading expenses effectively.
Refund Policies at Mega Funded
The details on refundable fees were not provided on the Mega Funded website or were not accessible at the time of writing.
Trial Program Availability
Mega Funded does not offer free trial programs. Traders must begin with the paid challenges as specified in the pricing details.
Payout Schedule at Mega Funded
Mega Funded follows a bi-weekly payout schedule. This approach ensures that traders receive their profits regularly, facilitating prompt reinvestment or withdrawal of earnings.
Pros & Cons
- Easy Setup: Quick and simple process to begin trading.
- Premium Broker: Uses Eightcap, known for excellent spreads and commissions.
- High Profit Splits: Up to 90% for 2-step challenges.
- Timely Payouts: Bi-weekly payouts ensure prompt earnings.
- Diverse Instruments: Offers trading in Forex, Indices, Metals, and Cryptocurrencies.
- Unlimited Trading Days: No restrictions on trading days for evaluation and funded accounts.
- Positive Feedback: Highly praised for its professionalism and ease of use.
- Lack of Ownership Information: No details on company owners.
- Unclear Refund Policy: No information on whether fees are refundable.
- No Free Trial: Requires upfront financial commitment.
- High Commission: $7 per lot may be high for frequent traders.
- Limited Support Details: Insufficient information on customer support.
FAQ Section
Mega Funded, partnered with Eightcap, offers leading spreads and commissions. For more details, visit Eightcap’s trading conditions.
Copy trading is permitted between personal accounts, but using trade copier software from third-party IP addresses is strictly prohibited.
Yes, trading over the weekend and holding trades overnight is allowed.
Their 1-phase and 2-phase evaluation programs come with no monthly fees.
The Scale-Up plan allows traders to potentially receive a capital allocation of up to $2 million by increasing 20% of the initial balance per month. Eligibility includes:
Receiving four consecutive payouts.
Ending the last trading cycle in profit.
