Waka Funding Review

Despite limited public information, Waka Funding receives positive feedback for its fast payment processes and efficient customer service.

Traders looking for a simple evaluation process and various instruments may find Waka Funding appealing.

Join now and face the Waka Funding challenge!

Waka Funding Discounts and Offers

No promotional codes are currently provided on their website. For the latest discounts, visit the official Waka Funding site or contact their support team.

Introduction to Waka Funding Prop Firm

Waka Funding is recognized for its strong platform and favorable trading conditions. Although specific details are limited, several key aspects distinguish it from other firms.

Company Name

The official name is Waka Funding.

Address Information

The address is not disclosed.

Founding Year

The founding year is unavailable.

Registration Location

Registered in the United Kingdom.

Ownership Details

Ownership information is not accessible.

Trading Platforms Information

The specific trading platforms supported by Waka Funding have not been disclosed or made accessible on their website at this time.

Trading Instruments at Waka Funding

Waka Funding provides a broad range of trading instruments, including:

• Forex
• Commodities
• Indices
• Metals
• Crypto

Accepted Payment Methods

Waka Funding supports the following methods for making payments:

• Bank Transfer
• Cryptocurrency

Account Sizes Available

Waka Funding offers various account sizes to meet different trading requirements:

• $25,000
• $50,000
• $100,000
• $200,000

Profit Split Structure

Waka Funding offers a tiered profit split structure, improving with trader performance:

• Initial split: 50%
• Increases bi-weekly until a maximum of 80% is reached

Evaluation Profit Targets

Traders must meet a profit target of 10% in the Waka Funding evaluation process.

Daily Loss and Drawdown Rules at Waka Funding

Waka Funding sets clear risk constraints:

• Daily Loss Cap: 4%
• Overall Loss Cap: 8%

Minimum and Maximum Days for Trading at Waka Funding

Waka Funding does not restrict trading days:

• Minimum Trading Days: None
• Unlimited Maximum Trading Days: Allowed

Steps Available in Waka Funding Prop Firm Challenges

Waka Funding provides an uncomplicated challenge framework:

• Evaluation Challenge: 1-step
• Profit Aim: 10%
• Limits on Drawdowns: Generally 4% daily and 8% total.

Waka Funding Prop Firm’s Challenges & Pricing

The fee structure for participating in challenges is outlined as follows:

• For a $25,000 Account: $275
• For a $50,000 Account: $375
• For a $100,000 Account: $575
• For a $200,000 Account: $975

Commissions and Trading Costs at Waka Funding

Waka Funding charges a fixed commission of $7 per lot traded, which is aligned with the industry standards to support the operational costs. For other financial instruments, traders benefit from zero additional commissions, with costs limited to the market spread. This fee structure is designed to be transparent and trader-friendly, ensuring clear cost expectations from the outset.

Non-Refundable Fees Policy at Waka Funding

Traders at Waka Funding should be aware that all fees paid are final and non-refundable. This policy is in place to ensure that all traders are dedicated to their trading activities and the resources provided by Waka Funding are utilized effectively.

Availability of Trial Offers at Waka Funding

Currently, Waka Funding does not offer trial periods for its services. This approach targets traders who are ready to engage fully with the platform and its features without preliminary testing phases.

Regulated Payouts at Waka Funding

The payout process at Waka Funding is designed to accommodate the liquidity needs of traders. After an initial 10-day trading period, traders can request their first withdrawal, allowing them to quickly reap the benefits of their trading efforts. Further withdrawals can be made every 5 days, providing regular access to funds based on trading success.

Waka Funding FAQ

Hedging Policy

Yes, hedging is permitted at Waka Funding. However, using multiple accounts to hedge entries against each other is a violation of the rules, including hedging between clients. Hedging within a single account to protect a position is allowed. It is not permitted to hedge two different accounts or individuals by taking opposite positions in each to circumvent the rules.

Transaction Commissions at Waka Funding

At Waka Funding, with Eightcap, there is a $7 commission per lot on currency pairs. Partial lots incur a proportional commission. Indices, commodities, and other instruments are only subject to market spread, with no additional commissions.

Understanding the 33% Consistency Rule

The 33% Consistency Rule ensures that no single transaction can exceed 33% of the requested profit during withdrawal. This rule supports sound risk management and prevents excessive risk-taking, particularly before significant news events.

Implementation during Funding:

• This rule applies during the funding stage, using volume bands to manage risk consistently.
• For example, if a trader’s average lot size over a month is 3 lots per trade, a 10-lot trade before payday breaches the rule by exceeding 200% of the average volume. Similarly, a trade 75% smaller than the average would also be excluded.
• Formula used:
  • Average Lot Size: Total lots traded / Total transactions
  • Upper Limit: Average lot size x 2
  • Lower Limit: Average lot size x 0.25
• Transactions are aggregated within a 30-second window to ensure consistency in volumes and profits.

Outcome:

• Transactions outside the range are excluded, but the account remains active, with compliant transactions processed normally.
• The rule aims to balance competitiveness with sustainability and market presence.

Although some traders may find this rule restrictive, it promotes better trading habits and adherence to planned strategies.