As a budding or experienced trader, you might be exploring your options for proprietary trading firms, or prop firms, that offer reputable and rewarding trading experiences. One such platform that may have piqued your interest is The Funded Trader. But you may ask, “Is The Funded Trader legit?” In this comprehensive article, we delve into the background, services, and unique features of The Funded Trader to answer that question for you.
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Company Background
The Funded Trader is a prop firm that aims to empower traders to succeed in the forex markets. This company, with its main office based in Liberty Hill, is backed by Purple Trading, an established Forex brokerage firm, and VVS Academy, a leading trading education platform. These strong alliances add credibility to The Funded Trader as a legitimate proprietary firm in the trading industry.
The firm’s mission revolves around helping traders achieve consistent profits by providing them with extensive resources, including funded trading accounts, advanced trading platforms, and educational tools. Their selection process involves an evaluation phase designed to assess a trader’s skills and identify individuals capable of becoming successful institutional traders.
The Funded Trader’s flexible trading rules and varied profit targets accommodate a wide range of trading styles and strategies. Additionally, the firm provides its traders with access to an array of educational resources to aid in refining their skills and enhancing their potential profits.
The Funded Trader’s Funding Process
One unique aspect of The Funded Trader is its straightforward and simple rules. With clear profit targets, maximum drawdown, and daily loss limit, the firm ensures traders comprehend the boundaries within which they must operate. The profit split arrangement is also transparent, providing potential users with a clear understanding of their possible financial rewards.
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The Funded Trader offers three different trading challenges to test your skills:
- Standard Challenge: The firm provides an initial balance for traders to prove their skills, adhering to specific trading rules, such as max drawdown and daily drawdown limits. Upon successful completion, traders gain access to a funded live account.
- Knight Challenge: For more experienced traders, this challenge offers more significant initial capital, tougher trading conditions, but also a larger potential profit share upon successful completion.
- Royal Challenge: This challenge is designed for professional traders, providing them with substantial initial capital and a more rigorous evaluation process. Upon successful completion, traders enjoy the highest possible profit share.
Unlike many other prop firms, The Funded Trader has no minimum trading days or trade quantity requirement in their evaluation phase. They offer unlimited time to reach the trading objectives, and their simple rules make the journey to becoming a profitable forex trader easier.
Trading Platforms
The Funded Trader collaborates with renowned brokers like Purple Trading to offer its users access to state-of-the-art trading platforms. These platforms come equipped with tools and indicators to enable traders to perform comprehensive technical and fundamental analyses, thereby making informed trading decisions.
Educational Resources
The Funded Trader has partnered with the VVS Academy to provide an array of educational resources to help traders build their skills. From trading strategy guides to market analysis tips, these resources are designed to aid traders in becoming consistently profitable.
Customer Support and Community
Another crucial aspect that sets The Funded Trader apart is its commitment to excellent customer support and building a community of traders. The company prides itself on providing prompt, efficient, and friendly support to its members.
Customer support is accessible via email or live chat, ensuring traders receive timely responses to their queries or concerns. The customer support team is knowledgeable about trading and can provide technical assistance as needed.
Furthermore, The Funded Trader has built a community platform where traders can connect, learn from each other, and share experiences. This community platform is a valuable resource, particularly for beginners looking to learn from more experienced traders.
Beyond providing a platform for communication, The Funded Trader organizes webinars and workshops where members can learn from industry experts. These sessions cover a wide range of topics, from trading strategy development to risk management techniques, adding another layer to the educational resources available.
By offering such an extensive level of customer support and creating a vibrant community, The Funded Trader demonstrates its commitment to its members’ success. This commitment, along with the firm’s clear rules and funding process, advanced trading platforms, educational resources, and credible affiliations, further underlines The Funded Trader’s status as a legitimate prop trading firm.
Final Thoughts – Is The Funded Trader Legit?
Considering the strong financial backing, clear trading rules, varied trader programs, and the commitment to fostering skilled and consistent traders, The Funded Trader emerges as a legitimate and dependable prop trading firm in the industry.
Whether you’re a seasoned trader seeking a challenge or a newcomer looking to gain experience, The Funded Trader provides a robust platform to achieve your trading goals. Remember, however, that trading always carries inherent risk, and it’s crucial not to invest more than you can afford to lose.
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