adminIn the ever-evolving world of trading, the concept of funded trading accounts has gained significant traction. Funded Trading Plus, a proprietary trading firm, has emerged as a notable player in this arena, offering aspiring traders the opportunity to trade with the firm's capital. In this comprehensive review, we delve into the legitimacy, offerings, and intricacies of Funded Trading Plus, providing you with an in-depth understanding of this prop firm.
Introduction to Funded Trading Plus
Funded Trading Plus is a proprietary trading firm that operates on a unique business model. Unlike traditional brokers or trading platforms, Funded Trading Plus provides traders with the chance to trade with the firm's capital, thereby minimizing the risk associated with personal capital investment. This concept has gained popularity among traders seeking opportunities to grow their trading skills and portfolios without putting their own funds at significant risk.
What is Funded Trading Plus?
Funded Trading Plus is a proprietary trading firm that offers traders the opportunity to trade with the firm's capital. By passing a series of evaluation processes, traders can gain access to a funded trading account provided by the firm. This allows them to trade various financial instruments, such as stocks, forex, and futures, using the firm's capital rather than their own.
Trader Evaluation Process
Funded Trading Plus has a rigorous evaluation process in place to assess the skill and risk management capabilities of potential traders. This process typically involves completing a set of trading challenges or assessments designed to test your trading strategies, risk management techniques, and overall trading proficiency.
Account Funding and Profit Sharing
Once a trader successfully completes the evaluation process, Funded Trading Plus provides them with a funded trading account. The size of the account varies depending on the trader's performance during the evaluation phase and the chosen account level. Traders then trade with the firm's capital, and any profits generated are split between the trader and the firm, typically following a predetermined profit-sharing arrangement.
The Experienced Trader Program
Funded Trading Plus offers an “Experienced Trader Program” tailored specifically for seasoned traders with proven track records. This program allows experienced traders to bypass the initial evaluation process and start trading with a larger funded account right away. To qualify for this program, traders must provide verifiable evidence of their trading experience, such as statements from regulated brokers or prop firms, demonstrating their consistent profitability over a specified period.
Benefits of the Experienced Trader Program
The Experienced Trader Program provides several advantages for seasoned traders, including:
- Larger funded account sizes
- Higher profit-sharing ratios
- Streamlined onboarding process
- Dedicated account managers
By catering to experienced traders, Funded Trading Plus aims to attract and retain skilled professionals in the trading industry, offering them a potentially lucrative opportunity to grow their portfolios further.
Requirements and Criteria
To qualify for the Experienced Trader Program, traders must meet specific criteria set by Funded Trading Plus. These criteria typically include:
- Minimum trading experience (e.g., 2-3 years)
- Consistent profitability over a specified period (e.g., 12 months)
- Verifiable trading statements from regulated brokers or prop firms
- Successful completion of an initial assessment or interview process
By having stringent requirements, Funded Trading Plus ensures that only traders with proven track records and demonstrated skills are granted access to the Experienced Trader Program, maintaining the integrity and quality of their offering.
Is Funded Trading Plus Legit?
When it comes to evaluating the legitimacy of a prop firm like Funded Trading Plus, it's essential to consider several factors. Legitimacy is not just about the firm's legal standing but also encompasses its reputation, transparency, and track record of successful trader partnerships.
Legal and Regulatory Compliance
Funded Trading Plus operates within the legal and regulatory frameworks of the jurisdictions it operates in. The firm claims to be fully compliant with relevant financial regulations and provides traders with the necessary documentation and disclosures related to their trading activities.
Reputation and Reviews
One way to gauge the legitimacy of a prop firm is by examining its reputation and reviews from existing and former traders. Funded Trading Plus has garnered a generally positive reputation within the trading community, with many traders praising the firm's transparency, support, and profit-sharing arrangements.
However, it's essential to note that experiences may vary, and some traders have expressed concerns or criticisms about certain aspects of the firm's operations or practices. As with any service, it's crucial to conduct thorough research and consider multiple perspectives before making an informed decision.
Transparency and Communication
Funded Trading Plus emphasizes transparency in its operations and communications with traders. The firm provides detailed information about its evaluation processes, account funding options, profit-sharing ratios, and trading rules on its website and through various communication channels.
Additionally, Funded Trading Plus offers resources and educational materials to help traders understand the firm's offerings and improve their trading skills. This level of transparency and support can be seen as a positive indicator of the firm's legitimacy and commitment to its traders.
Success Stories and Trader Testimonials
Another factor contributing to the perceived legitimacy of Funded Trading Plus is the presence of success stories and positive testimonials from traders who have benefited from the firm's services. These testimonials can provide valuable insights into the experiences of other traders and serve as a form of social proof for the firm's offerings.
However, it's important to approach such testimonials with a critical eye and consider the potential for biases or selective representation. Ultimately, each trader's experience will be unique, and individual results may vary.
Review of Funded Trading Plus
To provide a comprehensive review of Funded Trading Plus, we'll examine various aspects of the firm's offerings, including the evaluation process, account funding options, profit-sharing arrangements, and trader support.
Evaluation Process
Funded Trading Plus has a multi-stage evaluation process designed to assess a trader's skills and risk management capabilities. The process typically involves:
- Initial Assessment: Traders may need to complete an online assessment or provide trading statements to demonstrate their experience and proficiency.
- Trading Challenge: Traders must pass a trading challenge or series of challenges using a simulated trading account provided by the firm. These challenges are designed to evaluate various aspects of a trader's strategy, risk management, and overall performance.
- Funding Interview: Successful traders may be required to participate in a funding interview with a representative from Funded Trading Plus. This interview aims to further assess the trader's understanding of trading principles, risk management practices, and overall suitability for the funded account program.
The evaluation process is designed to be rigorous and comprehensive, ensuring that only traders with the necessary skills and risk management capabilities are granted access to funded trading accounts.
Account Funding Options
Funded Trading Plus offers several account funding options to cater to traders with varying experience levels and capital requirements. These options typically include:
- Starter Accounts: Entry-level accounts with smaller funding amounts, suitable for traders who are new to funded trading or have limited experience.
- Standard Accounts: Mid-range accounts with moderate funding amounts, designed for traders with some experience and demonstrated proficiency.
- Professional Accounts: High-level accounts with larger funding amounts, intended for experienced and consistently profitable traders.
The specific funding amounts and associated profit-sharing ratios may vary based on the trader's performance during the evaluation process and the chosen account level.
Profit-Sharing Arrangements
Funded Trading Plus operates on a profit-sharing model, where traders and the firm split the profits generated from the funded trading accounts. The profit-sharing ratios can vary based on the account level and the trader's performance, but typically range from 50/50 to 80/20 in favor of the trader.
For example, with a 70/30 profit-sharing ratio, the trader would receive 70% of the profits generated, while Funded Trading Plus would retain 30%. It's important to review the specific profit-sharing ratios and terms associated with each account level to ensure transparency and align with your expectations.
Trader Support and Resources
Funded Trading Plus recognizes the importance of providing traders with adequate support and resources to help them succeed. The firm offers various support channels, including:
- Account Managers: Dedicated account managers are assigned to traders to provide guidance, answer questions, and assist with account-related matters.
- Trading Education: Funded Trading Plus provides educational resources, such as webinars, video tutorials, and trading guides, to help traders enhance their skills and understanding of trading principles.
- Trading Community: The firm facilitates a trading community where traders can connect, share insights, and learn from one another's experiences.
- Risk Management Tools: Funded Trading Plus may provide traders with access to risk management tools and resources to help them effectively manage their trading positions and mitigate potential losses.
By offering comprehensive support and resources, Funded Trading Plus aims to equip traders with the knowledge and tools necessary to navigate the funded trading environment successfully.
Is Funded Trading Plus a Legitimate Prop Firm?
Based on the available information and reviews, Funded Trading Plus appears to be a legitimate proprietary trading firm with a transparent business model and a generally positive reputation within the trading community. However, it's important to note that experiences may vary, and individual traders' perceptions of legitimacy can differ.
While Funded Trading Plus operates within legal and regulatory frameworks and provides detailed information about its offerings, it's crucial for prospective traders to conduct their own due diligence, review the firm's terms and conditions, and carefully evaluate whether the firm's services align with their trading goals and risk tolerance.
Additionally, it's essential to remember that funded trading accounts and profit-sharing arrangements come with inherent risks, and individual trading results may vary based on market conditions, trading strategies, and risk management practices.
Benefits of Joining Funded Trading Plus
Joining a proprietary trading firm like Funded Trading Plus can offer several potential benefits for aspiring and experienced traders alike. Here are some of the key advantages of partnering with Funded Trading Plus:
Access to Funded Trading Accounts
One of the primary benefits of joining Funded Trading Plus is the opportunity to trade with the firm's capital through funded trading accounts. This eliminates the need for traders to risk their own personal funds, providing a potentially lower-risk environment for developing and executing trading strategies.
Potential for Significant Profits
Funded Trading Plus operates on a profit-sharing model, which means that traders can potentially earn a significant portion of the profits generated from their funded trading accounts. Depending on the account level and profit-sharing ratio, successful traders may have the opportunity to earn substantial profits without the need for significant upfront capital investment.
Professional Trading Environment
By partnering with Funded Trading Plus, traders gain access to a professional trading environment with dedicated support, resources, and tools. This can include access to advanced trading platforms, risk management tools, educational materials, and guidance from experienced account managers or mentors.
Networking and Community
Funded Trading Plus facilitates a trading community where traders can connect, share insights, and learn from one another's experiences. This collaborative environment can foster personal and professional growth, providing opportunities for networking, knowledge sharing, and potentially forming valuable connections within the trading industry.
Credibility and Recognition
Successful traders who consistently generate profits through Funded Trading Plus may gain credibility and recognition within the trading community. This can potentially open doors to additional opportunities, such as becoming a mentor or educator, or attracting interest from other prop firms or investment firms.
Requirements for Joining Funded Trading Plus
To join Funded Trading Plus and gain access to their funded trading accounts, traders must meet certain requirements and successfully complete the firm's evaluation process. Here are some of the typical requirements and steps involved:
Minimum Trading Experience
Funded Trading Plus may have minimum trading experience requirements for prospective traders. This could involve demonstrating a consistent track record of profitable trading over a specified period, typically ranging from several months to a year or more.
Initial Assessment or Evaluation
Prospective traders will typically need to complete an initial assessment or evaluation process to demonstrate their trading skills, risk management practices, and overall proficiency. This could involve taking an online assessment, providing verifiable trading statements, or participating in a trading challenge or simulation.
Funding Interview
After successfully completing the initial assessment or evaluation, traders may be required to participate in a funding interview with a representative from Funded Trading Plus. This interview aims to further assess the trader's understanding of trading principles, risk management strategies, and overall suitability for the funded account program.
Account Funding Requirements
Depending on the account level and trader's experience, Funded Trading Plus may require traders to meet specific account funding requirements. This could involve depositing a certain amount of capital as an initial investment or paying fees related to the evaluation process or account setup.
Compliance with Trading Rules and Regulations
Traders must agree to comply with Funded Trading Plus's trading rules, risk management guidelines, and any relevant regulatory requirements. This may involve adhering to specific position sizing, leverage limits, or other risk management protocols established by the firm.
Ongoing Performance Evaluation
Once granted access to a funded trading account, traders may be subject to ongoing performance evaluations to ensure they continue to meet the firm's profitability and risk management standards. Failure to maintain acceptable performance levels could result in account termination or adjustments to profit-sharing ratios.
By meeting these requirements and successfully navigating the evaluation process, traders can gain access to the funded trading accounts and opportunities provided by Funded Trading Plus.
Fees and Costs Associated with Funded Trading Plus
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While the prospect of trading with a funded account and earning a share of the profits may seem appealing, it's important to understand the fees and costs associated with joining Funded Trading Plus. Here are some common fees and expenses that traders should be aware of:
Evaluation or Application Fees
Funded Trading Plus may charge an evaluation or application fee to cover the costs associated with assessing a trader's skills and suitability for the funded account program. These fees can vary depending on the account level or evaluation process and may be non-refundable, even if the trader does not pass the evaluation.
Account Funding Fees
In some cases, traders may be required to make an initial deposit or pay an account funding fee to obtain a funded trading account. These fees can vary based on the account level and funding amount and may be used to cover the firm's costs of providing the trading capital.
Monthly or Annual Fees
Funded Trading Plus may charge monthly or annual fees for maintaining and managing the funded trading accounts. These fees can be flat fees or calculated as a percentage of the account value or trading profits.
Profit Splits or Commission Fees
As a proprietary trading firm, Funded Trading Plus operates on a profit-sharing model, which means that traders are required to share a portion of their trading profits with the firm. The profit-sharing ratios can vary based on the account level and trader's performance, but typically range from 50/50 to 80/20 in favor of the trader.
Withdrawal or Transfer Fees
If traders wish to withdraw funds or transfer their account to another broker or prop firm, Funded Trading Plus may impose withdrawal or transfer fees to cover administrative costs and potential regulatory compliance expenses.
Additional Costs and Expenses
Traders should also be aware of potential additional costs and expenses, such as trading platform fees, data feed subscriptions, or educational material costs. While these expenses may not be directly charged by Funded Trading Plus, they can impact a trader's overall profitability and should be factored into the overall cost analysis.
It's crucial for prospective traders to carefully review the fee structure and cost breakdown provided by Funded Trading Plus, as well as any terms and conditions related to these fees. Understanding the full range of expenses involved can help traders make informed decisions and ensure that the potential benefits outweigh the costs associated with joining the funded account program.
Success Stories from Traders at Funded Trading Plus
One way to gauge the legitimacy and potential of a proprietary trading firm like Funded Trading Plus is by examining the success stories and testimonials of traders who have participated in their funded account program. Here are a few examples of traders who have found success with Funded Trading Plus:
John D., Forex Trader
John D. is a former retail trader who struggled to achieve consistent profitability while trading with his own capital. After discovering Funded Trading Plus, he decided to take their evaluation process and was granted access to a funded forex trading account.
“Funded Trading Plus gave me the opportunity to trade with a larger account size without risking my own capital. Within the first year, I was able to generate impressive returns and earn a substantial portion of the profits through their profit-sharing arrangement. The support and resources provided by the firm were invaluable in helping me refine my trading strategies and risk management approach.”
Sarah L., Futures Trader
Sarah L. is an experienced futures trader who had previously worked with a different prop firm. After hearing about Funded Trading Plus's Experienced Trader Program, she decided to make the switch and was impressed by the firm's transparency and favorable profit-sharing terms.
“As an experienced trader, I appreciated the streamlined onboarding process and the opportunity to trade with a larger funded account right from the start. The dedicated account manager assigned to me provided valuable guidance and insights, and the trading community fostered a collaborative environment for growth and learning.”
Michael T., Equities Trader
Michael T. is a relatively new trader who initially struggled to find success in the stock market while trading with his own limited capital. After passing the evaluation process with Funded Trading Plus, he gained access to a funded equities trading account.
“Funded Trading Plus allowed me to put my trading strategies to the test without the fear of catastrophic losses. The educational resources and risk management tools they provided were instrumental in helping me develop a more disciplined and consistent approach to trading. Within a year, I was able to generate impressive returns and earn a substantial share of the profits.”
These success stories highlight the potential opportunities and benefits that Funded Trading Plus can offer to traders of varying experience levels and trading styles. However, it's important to note that individual results may vary, and success in funded trading accounts is not guaranteed.
Comparison of Funded Trading Plus with Other Prop Firms
While Funded Trading Plus has established itself as a notable player in the proprietary trading firm industry, it's important to compare its offerings and services with other prominent prop firms to gain a better understanding of the competitive landscape. Here's a comparison of Funded Trading Plus with some other well-known prop firms:
Funded Trading Plus vs. FTMO
FTMO (Funding Talent Marketing & Overiew) is one of the largest and most well-known prop firms in the industry Both Funded Trading Plus and FTMO offer funded trading accounts and a profit-sharing model, but there are some key differences:
- Evaluation Process: FTMO's evaluation process is known for its challenging trading challenges, while Funded Trading Plus may have a more streamlined approach for experienced traders.
- Profit-Sharing Ratios: FTMO typically offers profit-sharing ratios ranging from 70/30 to 90/10 in favor of the trader, while Funded Trading Plus's ratios can vary more widely depending on the account level.
- Account Sizes: FTMO offers a wider range of account sizes, from small accounts for beginners to large accounts for professionals, while Funded Trading Plus's account sizes may be more limited.
- Trading Instruments: Both firms support a variety of trading instruments, but FTMO may have a stronger focus on forex trading, while Funded Trading Plus offers more diverse options.
Funded Trading Plus vs. TopStepTrader
TopStepTrader is another well-established prop firm that operates on a similar funded account model. Compared to Funded Trading Plus, some key differences include:
- Evaluation Process: TopStepTrader's evaluation process involves completing a “Combine” trading challenge, which is known for its stringent rules and risk management requirements.
- Profit-Sharing Ratios: TopStepTrader offers a fixed 80/20 profit-sharing ratio in favor of the trader, while Funded Trading Plus's ratios can vary based on account level and trader performance.
- Account Funding: TopStepTrader requires traders to pay an upfront fee to participate in the Combine challenge, while Funded Trading Plus may have different funding requirements or fees.
- Trading Instruments: TopStepTrader focuses primarily on futures and forex trading, while Funded Trading Plus offers a more diverse range of instruments, including stocks and options.
Funded Trading Plus vs. MyForexFunds
MyForexFunds is a prop firm that specializes in forex trading. Compared to Funded Trading Plus, some key differences include:
- Trading Instruments: As the name suggests, MyForexFunds is focused exclusively on forex trading, while Funded Trading Plus offers a broader range of instruments.
- Evaluation Process: MyForexFunds has a unique “Demo-to-Live” evaluation process, where traders must demonstrate consistent profitability on a demo account before being granted a funded live account.
- Profit-Sharing Ratios: MyForexFunds offers a fixed 70/30 profit-sharing ratio in favor of the trader, while Funded Trading Plus's ratios can vary based on account level and trader performance.
- Account Sizing: MyForexFunds may have more limited account sizing options compared to the broader range offered by Funded Trading Plus.
While these comparisons highlight some key differences between Funded Trading Plus and other prop firms, it's important to note that each firm has its own strengths, weaknesses, and unique offerings. Ultimately, traders should carefully evaluate their specific trading goals, preferences, and risk tolerance to determine which prop firm aligns best with their needs.
Potential Risks and Drawbacks of Funded Trading Plus
While the prospect of trading with a funded account and earning a share of the profits can be enticing, it's crucial to understand the potential risks and drawbacks associated with joining a prop firm like Funded Trading Plus. Here are some potential risks and drawbacks to consider:
Risk of Account Termination
One of the primary risks of trading with a funded account is the possibility of account termination. Funded Trading Plus, like most prop firms, has strict risk management rules and performance criteria that traders must adhere to. Failure to meet these standards or violating trading rules can result in the termination of the funded account, potentially leading to the loss of any profits earned and the opportunity to trade with the firm's capital.
Limited Control and Autonomy
When trading with a funded account provided by Funded Trading Plus, traders may have limited control and autonomy over certain aspects of their trading. The firm may impose restrictions on the types of trades, position sizes, leverage levels, or risk management parameters that traders can utilize. These limitations can potentially restrict a trader's ability to fully implement their preferred trading strategies or risk management approach.
Profit-Sharing and Fees
While the profit-sharing model can be attractive, it's important to carefully evaluate the specific profit-sharing ratios and fees associated with Funded Trading Plus's offerings. Depending on the account level and trader's performance, the firm may retain a significant portion of the profits generated, potentially limiting the overall earnings potential for the trader.
Psychological Pressure and Stress
Trading with a funded account can be psychologically demanding, as traders may feel increased pressure to perform and generate consistent profits. The fear of account termination or the desire to maximize earnings can lead to suboptimal decision-making, emotional trading, or increased stress levels, potentially impacting overall trading performance.
Dependence on the Prop Firm's Stability
By trading with a funded account provided by Funded Trading Plus, traders are inherently dependent on the firm's continued stability and operational viability. Any significant changes in the firm's business model, regulatory environment, or financial stability could potentially impact the funded account program and traders' ability to access and trade with the firm's capital.
Limited Diversification and Portfolio Management
When trading with a funded account, traders may have limited options for diversifying their portfolio or implementing broader investment strategies. The focus is typically on trading specific instruments or markets within the constraints of the prop firm's trading rules and guidelines, potentially limiting overall portfolio diversification and risk management opportunities.
While these potential risks and drawbacks should not be overlooked, it's important to weigh them against the potential benefits and opportunities offered by Funded Trading Plus's funded account program. Careful consideration of individual trading goals, risk tolerance, and personal circumstances should guide the decision-making process.
Conclusion: Should You Trust Funded Trading Plus?
After a comprehensive review of Funded Trading Plus, it's clear that the firm offers a legitimate and potentially lucrative opportunity for aspiring and experienced traders alike. However, the decision to join their funded account program should be carefully considered, taking into account individual trading goals, risk tolerance, and personal circumstances.
On the positive side, Funded Trading Plus provides traders with the chance to trade with the firm's capital, minimizing the risk associated with personal capital investment. The firm's profit-sharing model allows traders to potentially earn substantial profits without the need for significant upfront capital. Additionally, Funded Trading Plus offers resources, support, and a professional trading environment that can foster growth and development for traders.
However, it's important to be aware of the potential risks and drawbacks associated with trading with a funded account. These include the risk of account termination, limited control and autonomy, profit-sharing and fees, psychological pressure, dependence on the firm's stability, and limited diversification opportunities.
Ultimately, the decision to trust and join Funded Trading Plus should be based on a thorough evaluation of the firm's offerings, terms and conditions, and alignment with individual trading goals and risk tolerance. Conducting due diligence, reviewing trader testimonials and success stories, and carefully considering the potential risks and rewards can help prospective traders make an informed decision.
For traders who are committed to developing their skills, have a solid understanding of risk management principles, and are willing to adhere to the firm's trading rules and guidelines, Funded Trading Plus may present a viable opportunity to achieve trading success and potentially generate significant profits.
Frequently Asked Questions
1. What is Funded Trading Plus?
Funded Trading Plus is a proprietary trading firm that offers traders the opportunity to trade with the firm's capital through funded trading accounts. By passing the firm's evaluation process, traders can gain access to these funded accounts and earn a share of the profits generated.
2. How does the profit-sharing model work at Funded Trading Plus?
Funded Trading Plus operates on a profit-sharing model, where traders and the firm split the profits generated from the funded trading accounts. The profit-sharing ratios can vary based on the account level and trader's performance but typically range from 50/50 to 80/20 in favor of the trader.
3. What is the evaluation process like at Funded Trading Plus?
The evaluation process at Funded Trading Plus typically involves multiple stages, including initial assessments, trading challenges or simulations, and potentially a funding interview. The process is designed to evaluate a trader's skills, risk management capabilities, and overall proficiency before granting access to a funded account.
4. Does Funded Trading Plus offer any educational resources or support for traders?
Yes, Funded Trading Plus provides various educational resources and support channels for traders. These may include webinars, video tutorials, trading guides, dedicated account managers, and access to a trading community for knowledge sharing and networking.
5. How do the account funding options work at Funded Trading Plus?
Funded Trading Plus offers different account funding options, ranging from starter accounts with smaller funding amounts to professional accounts with larger funding amounts. The specific funding amounts and associated profit-sharing ratios may vary based on the trader's performance during the evaluation process and the chosen account level.
6. Are there any fees or costs associated with joining Funded Trading Plus?
Yes, there may be various fees and costs involved with joining Funded Trading Plus, such as evaluation or application fees, account funding fees, monthly or annual fees, profit splits or commission fees, and potential withdrawal or transfer fees. It's important to carefully review the fee structure and terms provided by the firm.
7. How does Funded Trading Plus compare to other prop firms in the industry?
Funded Trading Plus is one of many prop firms operating in the industry, each with its own strengths, weaknesses, and unique offerings. Some key factors to consider when comparing Funded Trading Plus to other firms include the evaluation process, profit-sharing ratios, account sizes, trading instruments supported, and overall reputation and track record.
8. What are some potential risks and drawbacks of joining Funded Trading Plus?
Potential risks and drawbacks of joining Funded Trading Plus include the risk of account termination, limited control and autonomy, profit-sharing and fees, psychological pressure and stress, dependence on the firm's stability, and limited diversification and portfolio management opportunities.
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