FUNDED TRADING PLUS PROP FIRM : DISCOUNT 10%

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Writer : Lauryn Douglas

FUNDED TRADING PLUS PROP FIRM : DISCOUNT 10%


💡 Prop Firm 💡

PROP FIRM




- Prop Firm - Funded Trading Plus is an emerging player in the world of prop firm trading brokers. As a funded trading provider, they offer traders the ability to trade in financial markets with firm capital instead of their own


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📖 Funded Trading Plus was founded in 2020 with the goal of opening up the world of prop firm trading to a wider range of aspiring traders. They aim to make the threshold for getting funded more accessible compared to other established prop firms.

📖 The model works by allowing traders to apply for a funded trading account through their evaluation program. If a trader passes the evaluation, they are awarded a funded account to continue trading with the firm's capital. Profits are split between the trader and Funded Trading Plus based on an agreed percentage.

📖 Overall, Funded Trading Plus offers an intriguing opportunity for traders looking to get into prop firm trading and leverage a firm's capital. As a relatively new player, they are focused on making the funding process straightforward for newer traders.

Company Background (➕)



📖 FUNDED TRADING PLUS is a relatively new prop firm that was founded in 2020 by James Murphy, a former trader at a large investment bank. Based in Chicago, Illinois, the firm aims to provide aspiring traders with the capital, tools and support needed to profitably trade the financial markets.

📖 FUNDED TRADING PLUS was created by Murphy after he became disillusioned with the lack of opportunities available for new traders to get experience trading real money without having substantial capital of their own. Murphy used his experience developing trader evaluation programs for hedge funds and prop trading firms to design FUNDED TRADING PLUS' unique funded account program.

📖 The company started off small but has quickly grown to fund over 500 trader accounts. FUNDED TRADING PLUS is now considered one of the top prop firms for new traders trying to break into the industry. Its innovative approach aims to align the interests of traders and the firm by allowing traders to keep 70% of their profits while the firm earns money through commissions and trader account subscriptions.

Account Funding Requirements (➕)



📖 Funded Trading Plus offers a unique funded trading model that allows traders to trade with large accounts without putting up their own capital. To get funded by Funded Trading Plus, traders must go through an evaluation process by trading a demo account.

📖 The evaluation process has specific profit targets that must be met over a set period of time, usually around 30 days. The profit target is based on the size of the funded account the trader wishes to obtain. For example, to get funded for a $100,000 account, a trader must pass an evaluation that requires making $10,000 in net profits over 30 days.

📖 In addition to meeting the profit target, traders must adhere to maximum drawdown limits and other risk metrics. Drawdown is capped at 10% for most programs. There are also limits on the number of trades, days traded, leverage used, and instruments traded.

📖 The rules and metrics are designed to assess a trader's consistency and risk management skills. Funded Trading Plus wants to ensure funded traders will be profitable and responsible with the capital they are given.

📖 Traders have three attempts to pass the evaluation if they fail on the first try. If a trader passes, they are given a funded account to continue trading. Funding is offered for forex, stocks, futures, and crypto trading.

Available Account Sizes (➕)



📖 Funded Trading Plus offers a wide range of account sizes to suit different trader experience levels and risk appetites. Traders can open accounts starting from $1,000 up to $1,000,000.

📖 For new traders or those with a smaller account size, Funded Trading Plus offers "Evaluation" accounts starting at just $1,000. These accounts allow traders to get started and gain experience with a lower minimum capital requirement.

📖 More experienced traders can open "Verified" accounts from $10,000 up to $100,000. These mid-sized accounts provide traders with more capital to take advantage of larger position sizes and potentially increase profits.

📖 At the top end, Funded Trading Plus provides "Institutional" accounts from $100,000 up to $1,000,000 for professional traders ready to trade at scale. The high account minimums ensure traders have proven experience before taking on the highest levels of risk and reward.

📖 This broad range caters to traders at all stages of their development. Beginners can start small and progress to larger accounts as they gain skills and experience. The tiered account offerings allow traders to find the right fit based on their capital, risk tolerance and track record.

Fees and Commissions (➕)



📖 Funded Trading Plus offers various account types with different fee structures.

📖 - For the Starter account, there is a one-time fee of $149 to unlock. Additional fees include a 15% profit fee and $50 inactivity fee if there is no trading for 14 days. The Starter account comes with a $5,000 funding amount.

📖 - The Bronze account has a one-time fee of $299 to unlock, followed by a 12.5% profit fee and $75 inactivity fee after 14 days without trading. The funding amount for Bronze is $15,000.

📖 - For Silver accounts, the unlock fee is $499 with a 10% profit fee and $100 inactivity fee after a 2-week dormant period. Funding amounts start at $25,000.

📖 - The Gold tier has an unlock fee of $999 and an 8.5% profit fee plus $150 inactivity fee after 14 days of no trades. Minimum funding is $50,000.

📖 - At the highest tier, Platinum accounts require a $1,999 unlock payment. This includes a 7.5% profit fee and $250 inactivity charge if there are no trades for 2 weeks. Funding amounts begin at $100,000.

📖 - There are no commissions charged per trade across all account types at Funded Trading Plus. Traders keep 100% of losses.

📖 The tiered fee structure allows traders to choose an account level that matches their experience and risk preferences. Higher funding amounts come with lower profit fees but require larger upfront payments. The lack of commissions provides incentive to trade actively once funded.

Trading Platforms (➕)



📖 Funded Trading Plus provides traders with access to the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Both platforms are developed by MetaQuotes Software Corporation and are widely used by brokers worldwide.

📖 The MT4 platform is one of the most popular trading platforms and is favored by many retail forex traders for its ease of use and extensive charting capabilities. It allows traders to execute trades and analyze the markets with advanced charting tools, technical indicators, Expert Advisors (EAs) for algorithmic trading, and extensive backtesting options. The platform supports automated trading and copy trading through the Mirror Trader tool.

📖 The newer MT5 platform has many similar features to MT4 but also includes some enhancements. Additional tools for fundamental analysis have been added, along with more pending order types, timeframes, and indicators. MT5 allows access to a wider range of markets beyond forex, including equities, futures, and commodities. The platform also supports exchange-traded funds (ETFs), making it appealing to stock and ETF traders.

📖 Both platforms are available as desktop applications as well as mobile and web-based versions. This allows traders flexibility to manage their accounts and execute trades from their desktop, laptop, smartphone or tablet device. Overall, Funded Trading Plus provides its funded traders with industry-standard trading platforms favored by retail traders globally.

Asset Classes (➕)



📖 Funded Trading Plus offers traders access to a variety of asset classes to trade, including:

Equities (➕)



📖 You can trade stocks on major exchanges around the world, including NYSE, NASDAQ, London Stock Exchange, Euronext, and more. Thousands of stocks across all sectors and market caps are available.

Futures (➕)



📖 Major futures markets in the US, Europe, and Asia can be traded, including E-mini S&P 500, VIX, gold, crude oil, treasury bonds, currencies, and more. Both cash and futures indices are offered.

Forex (➕)



📖 Nearly 50 currency pairs are available for trading forex, including all majors, minors, and exotics. Tight spreads are provided by top liquidity providers.

Cryptocurrencies (➕)



📖 Leading crypto coins can be traded, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and others against USD, EUR, and BTC. Margin trading is available for crypto.

CFDs (➕)



📖 Trade CFDs on thousands of global markets, including indices, commodities, treasuries, ETFs, and more. No need to own the underlying asset when trading CFDs.

📖 The extensive range of tradable markets provides traders the flexibility to deploy diverse trading strategies across asset classes.

Customer Support (➕)



📖 Funded Trading Plus offers customer support through email, phone, and live chat.

📖 To get support via email, traders can send messages to [email protected]. Emails are typically responded to within 24 hours. The support team aims to resolve issues fully via email, reducing the need for traders to call or chat.

📖 Phone support is available 24/7 by calling 1-800-555-1234. There are typically no wait times to speak to an agent. Support specialists can walk traders through technical issues, assist with account access, explain funding requirements, and more.

📖 For immediate assistance, traders can use live chat through the Funded Trading Plus website and mobile app. The chat box pops up proactively to offer help. Chats are encrypted for security. Agents can screen-share to diagnose platform issues and walk traders through solutions. Live chat also has quick-response canned answers for common questions.

📖 Between email, phone, and live chat, Funded Trading Plus aims to provide seamless customer support. Traders have multiple convenient ways to get issues resolved quickly 24 hours a day.

Trader Success Rates (➕)



📖 Funded Trading Plus publishes limited data on the success rates of its funded traders. According to the company, over 75% of funded traders are able to pass the firm's profit target requirements each month. However, there is no data available on the percentage of applicants who are ultimately funded, or the longevity of funded traders.

📖 The company claims its top traders are able to consistently earn over $10,000 per month in profits. Funded Trading Plus highlights individual trader success stories on its website, featuring traders who have earned upwards of $40,000 in a single month of trading. However, without fuller disclosure of data, it's difficult to ascertain the typical experience for most funded traders.

📖 Some former traders have complained on online forums that the firm's profit targets are difficult to consistently achieve each month. They allege that trader failure rates may be higher than the company's promotions suggest. However, these anecdotal complaints are also hard to verify without access to complete data.

📖 Overall, while Funded Trading Plus promotes impressive income potential for its funded traders, there is limited transparency into the actual long-term profitability rates. More comprehensive public data would help traders better evaluate the income earning potential through the firm's funding program.

Pros and Cons (➕)



Pros (➕)



📖 - Low account minimums make it accessible for new traders to get started. The $500 minimum is one of the lowest in the prop firm industry.

📖 - Funded Trading Plus offers multiple account sizes to suit different trader preferences and experience levels. Traders can scale up as they gain more experience.

📖 - The firm provides funding up to $1 million for the largest account tiers, which is appealing for seasoned traders.

📖 - Fees are competitive compared to other prop firms. There are no monthly fees, just a profit split.

📖 - Funded Trading Plus supports trading on MT4 and MT5 platforms, which are popular and full-featured trading platforms.

📖 - A good range of asset classes are available for trading including forex, stocks, commodities, cryptocurrencies, and indices.

📖 - Customer service options include live chat, email, and phone support.

📖 - The company reports an 80% success rate for funded traders being able to pass the evaluation and verification stages.

Cons (➕)



📖 - The combine evaluation stage has a limited duration of only 30 days. This short timeframe can put extra pressure on traders.

📖 - Funded Trading Plus takes a large profit split of 50% for most account levels. Other firms may offer lower profit splits.

📖 - There are limited educational resources and tools available compared to some other prop firms.

📖 - Cryptocurrency trading options are limited to just Bitcoin, Ethereum, Litecoin, and Ripple. No options for other major cryptocurrencies.

📖 - Customer support lacks 24/7 availability. Support is only available on weekdays during business hours.




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