Discover all about Funded Trading Plus from this unbiased review. Ensure to make a wise decision before risking your hard-earned money by exploring its Pros & Cons:
Funded Trading Plus started as Trade Room Plus in 2013 and emanated from the collaboration of Wall Street and London expert traders, prop traders, brokers, data specialists, and liquidity providers. Today, it is available in over 165 countries around the world.
Traders on it can use expert tools, advice, and acquired and learned skills to trade forex, commodities, oil, metals, indices, and cryptocurrencies on demo accounts and earn profits they split with the company.
Table of Contents:
Funded Trading Plus Program: Comprehensive Review
Funded Trading Plus is an FTP London Ltd brand registered and regulated to operate in England, United Kingdom. It provides demo trading accounts as an intermediary of GooeyTrade.
=> Visit the Funded Trading Plus Website
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Overview of Funded Trading Plus
Funded Trading Plus was founded in 2013 by expert traders and the prop trading firm was developed based on research and surveys of what prop trading customers want and value.
It admits or recruits highly experienced traders (who undergo an untimed evaluation process) who can progressively scale up their accounts to trade simulated funds up to $2.5 million and earn profits withdrawable on any day.
Traders pay a one-off charge for the program (starts at $119) and thus do not pay monthly fees and hence are in no rush to make profits, which makes many people using prop trading firms fail.
The profit split, the most important factor for serious traders, is best at Funded Trading Plus where it can go up to 100/0% in favor of the trader as long as the trader can get a profit target of 30%. Most companies are willing to offer up to 80% or 90%.
When comparing costs, the programs are a bit cheaper than Topstep, Earn2Trade, and The 5%ers, but costlier than FTMO or The Trading Pit, which we have already reviewed at SoftwareTestingHelp.com. At FTMO the starting $10,000 balance account costs just $97 and The Trading Pit offers accounts for a one-off fee of $99.
Also Read =>> Topstep Review
Another obvious benefit we find when comparing Funded Trading Plus with FTMO and Topstep and indeed most prop trading companies is that it does not have timed evaluation processes.
In this case, some companies charge monthly and the trader still needs to pay more monthly subscriptions if they fail to pass the evaluation in the first month of subscription, yet most have multiple rules traders need to observe to pass.
However, Funded Trading Plus does not have a trial period. Other companies offer a trial period and the trader can still qualify for a funded trading account during the trial period.
A trader who signs up for a program must pass an evaluation before being admitted to the Funded Trader level (FT+ Trader) where they can earn profits by trading simulated funds on simulated live environments (market data).
The evaluation process is quite simple, easy, and straightforward compared to the evaluation process on Topstep and other prop trading platforms where there are multiple rules, such as the consistency rule.
The program even offers a free funded trading account every week by picking an applicant who demonstrates knowledge of the Funded Trading Plus platform and willingness to regularly promote the company on his/her social media as the brand ambassador.
Remember, you will not get a free funded account at FTMO, MyFundedFX, Earn2Trade, The 5%ers, TopStep or OneUpTrader.
While the industry standard is a minimum of 5 trading days monthly, and a 30-day period within which traders must complete the challenge to pass evaluation or scale, Funded Trading Plus does not impose any minimum day trading requirements or monthly ultimatums.
Unfortunately, Funded Trading Plus is best customized for only highly successful and experienced traders and beginners may have slim chances to either learn or succeed in making profits.
Finally, there is a limit to trading platforms one can employ, as well as the third-party trading data one can access although all trading strategies are allowed except arbitrage and hedging (on different accounts).
| Funded Trading Plus | FTMO | Topstep | MyFundedFX | Earn2Trade | The 5%ers | |
|---|---|---|---|---|---|---|
| Profit split | 80/20, 90/10, 100/0 % | 80/20, 90/10 % | 100/0 i first payout, 90/10 % in subsequent | 50/50, up to 70/30 or 80/20 % | 80/20 % | 80/20 up to 100/0 % |
| Account costs (price) | From $119 for a $12,500 balance. | $97 for a $10,000 balance. | $49 for a $50,000 balance, $149 for $150,000 balance. * | $53 for $5,000 balance, $115 for $25,000 balance. | $60 (with discounts, normal is $150) for $25,000 balance. | $260 for $5,000 balance. $450 for a $20,000 balance. |
| *one-off payment | *one-off payment. | above is per month.*pay $149 one-off after funded account status | *one-off payment | * Monthly | *one-off payment. | |
| Maximum balance possible. | $2.5 million | $400,000 | $400,000 | $1.5 million | $400,000 | $4 million |
| Evaluation profit target and consistency | 4% No consistency rules | 10% with consistency rules | 6% with consistency rules | 10%, 8%, and 5% with consistency rules | 10% with consistency rules. | 8% and 5% in phase 2 with consistency rules. |
| Trading platforms | Match-Trader, DXTrade, and cTrader | MT4, MT5, DXtrade, and cTrader. | NinjaTrader, TradingView, Tradovate or TSTrader, TopstepX app, ATAS, R Trader, MultiCharts, etc. | MetaTrader, DXtrade, TradingView, cTrader, Match Trader, etc. | Ninjatrader, Finamark, R|Trader, Investor RT, Motive Wave, MultiCharts, QScalp, etc. | Match Trader, MT5. |
How to Trade with Funded Trading Plus
Follow these steps to understand how to open an Account:
Step #1: Visit the website. Select a program and account size that is suitable for you from the options available. There are four programs and several options with regard to the account size you can start with.
The cost of programs and account sizes starts at $119 one-off, without any monthly commitments and no time limits during the evaluation phase as long as you can place one trade within a month.
Step #2: Select the trading platform suitable for you. There are three options currently, namely, Match-Trader and DXTrade which do not apply any additional costs on top of pricing and execution, and cTrader which applies $25 on top of pricing and execution.
Click or tap ‘Continue to Checkout’ Review your order and fill in your billing information, including confirming your email address. Choose a payment method. There are two payment methods: debit and credit card and cryptocurrencies.
Read and confirm reading the terms. Click/tap ‘Place Order’ and proceed to confirm the order and make payment. You will get credentials on the email to confirm the order purchase and details of the purchase, and a different email with user registration and login details.
Step #3: Login and start trading with your selected platform. The platforms work on web, desktop, and mobile devices.
Funded Trading Plus Trading Hours
Since Funded Trading Plus uses ThinkMarkets broker for execution, customers can place trades 24 hours a day. They can trade at their most convenient times. Funded Trading Plus accepts holding trades overnight and over the weekend.
Of course, the best trading hours vary depending on region. For instance, the Asian session volume and liquidity are lower than European and London markets, and the volume and liquidity increase when European and London markets close.
Instruments that can be traded on Funded Trading Plus
- Forex: 60+ forex pairs including majors, minors, and exotics.
- Commodities: Oil, and metals like Gold, Silver, and Platinum.
- Indices: Dax, Dow, Nasdaq, SP500, etc.
- Cryptocurrencies: 1+ cryptos and coins including BTC, ETH, DOGE, ADA, against USD, EUR, GBP, CAD, BTC, etc.
How the Funded Trading Plus Platform Works
#1) Traders start at an evaluation phase where they must achieve several targets including a 10% simulated profit target, 6% Maximum simulated loss, and 4% daily simulated loss (based on the previous day’s balance). Once they pass, they can achieve the funded trader status (FT+ Trader). Traders do not earn during an evaluation phase.
#2) FT+ Trader has different programs, each with varying sizes of accounts (based on funds awarded). $12,500, $25,000, $50,000, $100,000, and $200,000. The profit split starts at 80/20% if the trader achieves a 20% simulated profit on their account, above which they earn 90/10% profit split, and 100/0% profit split in their favor on request, on reaching a 30% simulated profit.
#3) As an FT+ Trader, a trader who makes profits and wants to withdraw funds must leave some amount such that the left profit can cover any amount of simulated loss they expect since the simulated balance cannot fall below the amount initially allocated.
#4) Traders can use their simulated profits to scale up the account. Withdrawals do not count towards the balance required for scaling.
#5) On reaching the 10% profit target and wanting to scale up (the Evaluation account to Funded account status or to scale up from any Funded account level to another), you must close all open trades and then request for scaling of the account by using the LiveChat or Contact Page. The admin will disable access to the account for about 48 hours, increase the funds available, and scale up the account.
#6) Traders can withdraw the profits before or after scaling.
#7) There are hard rules, such as the need to observe the 4% daily simulated loss limit and the 6% total maximum simulated loss. Violating these means the trader fails the challenge (in Evaluation or FT+ Trader levels) and hence cannot sell the account.
#8) Relative Drawdown (difference between the highest balance achieved on a profitable trading and the maximum drawdown point) for the Experienced Trader program is 6%, the Master Trader program is 6%, and the Advanced Trader program is 10%.
For each program, the relative drawdown will move up with a positive trade. The maximum drawdown will move up by the amount of profit made if the latter is lower than 6% but if it is 6% or more, the maximum drawdown locks in at the starting balance but the relative drawdown will continue to move up as the trader makes more profitable trades.
Withdrawals of the profit will reduce the relative drawdown by the same amount withdrawn. A trader can withdraw or is recommended to withdraw an amount lesser than the relative drawdown amount to continue leveling the account way up.
Daily drawdown adjusts each day based on the new account balance (it is 4% on Experienced Trader, 5% on Advanced Trader, and 6% on Master Trader program accounts).
Types of Accounts at Funded Trading Plus
- The account types at Funded Trader are organized into 4 programs: Experienced, Advanced Trader, Premium Trader, and Master Trader programs. Each of these starts with an evaluation program and offers different account sizes and thus different prices for each account size.
- There is only 1 evaluation phase on the Experienced Trader program, 2 on the Advanced and Premium Trader program, and none on the Master Trader level. Traders do not share any profits on the evaluation phases.
- Profit share starts from 80/20%, 90/10%, and 100/0% in favor of the trader on all 4 trader programs and account levels. The profit target is the same at 10% for all accounts; leverage is up to 30:1 for all programs and account levels.
- There are only a few hard rules which result in the failure of an evaluation or the challenge one needs to achieve to level up a funded account. These hard rules to observe vary depending on the program;
| Program | Number of evaluation phases before joining FT= Trader funded level | Funded account balance levels (and one-off subscription cost) | Hard rules (result in failure) | Soft rules (trades will close if breached) | Profit target to pass evaluation or get more profit share | Who is it best for? |
|---|---|---|---|---|---|---|
| Experienced Trader | 1 | Account size of $12,500 (costs $119); $25,000 ($199); $50,000 ($349); $100,000 ($499);$200,000 ($949). | 4% daily simulated loss limit 6% total maximum simulated loss limit | No Stop Loss needed Trades can be held over weekends. | 10% Phase 1 In Phase 2 Funded account, you can request to scale to next balance level after making 10%, 20%, or 30%. | Prop traders needing cheapest prop trading accounts. Also ideal for swing trading. |
| Advanced Trader | 2 | Account size of $25,000 (costs $199); $50,000 ($349); $100,000 ($499); $200,000 ($949) | 5% daily simulated loss limit. 10% total maximum loss simulated limit | Stop Loss needed for each trade, otherwise trade closes automatically. Trades cannot be held over weekends. | 10% Phase 1 5% Phase 2 In Phase 3 Funded account, you can increase profit share by hitting profit target 20%, above 20%, or 30%. | Prop traders seeking higher maximum simulated loss than starter accounts. Good for day traders and smart money traders. |
| Premium Trader | 2 | Account size of $25,000 (costs $247); $50,000 ($397); $100,000 ($547); $200,000 ($1,097) | 4% Daily drawdown limit. Total drawdown limit dependent on account size. | 4% daily simulated loss that updates based on previous day balance. 8% maximum simulated loss. 4% daily simulated loss. | 8%, 5%, 10% of simulated profits. In Phase 3 of funded account, you can increase profit share by hitting profit target 20%, above 20%, or 30%. | Swing traders and smart money traders. |
| Master Trader | 0 | Account size of $5,000 (costs $225); $10,000 ($450); $25,000 ($1,125); $50,000 $100,000 ($4,500).($2,250); | 6% daily simulated loss limit. 6% total drawdown limit. | No holding positions on weekends. 6% maximum simulated losses on orders. | 10% you can request to scale to next balance level after making 10% or 20%, or 30%. | Great or day and swing traders. |
Once you become a funded account holder, you can scale up the balance and manage an account of up to $2.5 million in any category. All you have to do is ensure you achieve the profit targets and maintain the balance required to scale to the next level.
You do not have to retain the profits in the account to attain such a balance for as long as you can achieve a profit target of 10% in the current account level. You can request an upgrade each time you achieve a 10% profit.
Trading Platforms on Funded Trading Plus
#1) Match-Trader: Top features include support for desktop, mobile, and web; in-built TradingView charts support; data feed; access to signal providers; demo or live account.
* Once you buy a program at Funded Trading Plus and choose the Match Trader platform, the Funded Trading Plus platform will send a link to your email which you use to sign in to the Match Trader platform.
* To download the app shortcut on your mobile or desktop device, log in with the link sent by the broker and tap/click the Share icon at the bottom of your screen relevant to your OS type.
Refer to this video:
#2) DXtrade: Web-based trading means it is accessible on all devices. DXtrade provides exceptional risk management tools, e.g. pre-trade validations before trade executions, market-facing strategies (allows brokers to set market routing limits and intensity thresholds), and custom trading hours.
Here is the video tutorial:
It provides the ability for the user to trade on the client’s behalf, trade in notional and fractional quantities, and trade with advanced order types (e.g. Stop Market and Trailing Stop orders, Good Til time-in-force, etc.).
Other features include API integration 2ith brokerages, clearing firms, and third-party systems. It is also very scalable to any account size.
#3) cTrader: Its main features include algo trading and trading automation tools, social and copy trading, advanced order types, trading signals from third parties, market analysis tools, risk management tools (e.g. take profit, trailing orders, and stop-loss orders), and advanced charting features. It is accessible on mobile, desktop, and web.
Here is a video for your reference:
General Features of the Trading Platform
- Up to 30:1 leverage for all assets on all four programs (Experienced Trader, Advanced Trader, Premium Trader, and Master Trader).
- Traders can leverage Expert Advisors, bots, or robots for trading. Most of the strategies are allowed.
- Arbitrage and grid trading are not accepted.
- Hedging is accepted on the same account (both during evaluation and at a Funded Trader level). Traders cannot place opposite trades for a given instrument on different accounts.
- Swap free accounts that instead of a swap fee are charged an admin fee.
- $50 minimum withdrawal which can be made each week.
- Trades can be held overnight and over the weekends. Trades cannot be held during weekends in the Advanced Trader and Master Trader programs. Trades are closed automatically on Friday at the closure time.
- The company announces promotions and giveaways on its Discord channel.
- Withdrawals are done through cryptocurrency and bank transfer methods. Withdrawal can be requested on any account once the closing balance is $50 above the initially awarded balance, but for the Premium program, it has to be requested 7 days after that. Processing is instant to two hours.
- Funded trading education and a podcast by Funded Trading Plus experts.
Pros and Cons
Pros:
- Get refunds on purchases so long as you have not placed a trade on the account within 14 days.
- Trade without the pressure of performance. There are no time limits on the Evaluation period (you can take time to pass an evaluation to become a funded trader for as long as you want) or the Funded Trader (FT= Trader) account. All you have to do is place only one trade within a month to prevent the expiry of your account.
- Request for fee refund on reaching 10% simulated profit (applies in the Experienced Trader, Advanced Trader, and Premium Trader programs).
- No consistency rules are enforced on accounts.
- No minimum number of trades to achieve before scaling up the account.
- There is an option to go directly to funded trading on the Master Trader program where you do not have to go via evaluations.
Cons:
- No trial version. You need to pay from day one of usage.
- Limited leverage of up to 30:1. Indices leverage is up to 20:1 and crypto is just 20:1. Some prop trading platforms give 100:1 leverage.
Frequently Asked Questions
1. Is funded trading plus trustworthy?
Funded Trading Plus has a score of 5.52 out of 10 at Traders Union and based on outcomes for most traders, it is trustworthy meaning it does what it describes and promises prop traders.
It scores a 4.7/5 star rating from 2,155 reviewers on TrustPilot. 92% of these claimed previous and current users have awarded the company a 5/5 rating.
2. Is funded trader program legit?
Funded Trading Plus is legally registered in the U.K as FTP London Ltd. The latter is an intermediary of GooeyTrade, which is registered as an investment company under the U.S. GooeyTrade is a broker owned by GT Tech.
3. Is trading with a funded account worth it?
Trading with a funded account is worthy it for both experienced and beginner traders who do not have or do not want to commit their funds to trading. Prop trading platforms are generous not only in their provision of trading funds but also profit shares. They offer more relaxed training and trading environments than ordinary trading platforms.
4. How does funded trading plus make money?
Funded Trading Plus makes money in two ways: first is through account subscriptions starting from $199, the cheapest and up depending on the account type.
Second, there is a profit split of 80/20%, 90/10%, and up to 100/0%. For the latter, when customers make profits from funds provided, they share with the customers.
5. What is the maximum funding for Funded Trading Plus?
The maximum initial funding (AUM) is $400,000 on simulated accounts. Traders in the Experienced, Advanced, and Premium account categories are given $200,000 (or $250,000 in the Experienced account category if the Boost promotion is active).
6. What are Funded Trading Plus Alternatives?
Funded Trading Plus alternatives include Topstep, Earn2Trade, The 5%ers, Trading Pit, and FTMO. The list also includes FundedNext, FTUK, The Funded Trader, Super Funded, Toptier Trader, Lux Trading Firm, etc. They offer different account types and sizes, profit splits, and rules for simulated trading.
Conclusion
Based on our review of Funded Trading Plus, the prop trading platform offers more than what ordinary prop trading firms offer. The profit split can be as high as 100/0% in favor of the trader as long as the trader hits a 30% profit target.
Besides, there are fewer trading rules (no consistency rule) and one can achieve the profit target, get a funded account, and even withdraw on day one of trading.
Compared to many prop trading solutions, Funded Trading Plus offers up to $2.5 million account balance and all a user needs to do to scale up is achieve a 10% profit target in the current account level (which can be done even on day one for pro traders).
The only insistence is that Funded Trading Plus needs professional and experienced traders if the traders are aiming for the highest profit within the shortest duration.
Otherwise, beginner traders can still take the longest to learn how to trade on the platform because there is no time limit on when they should hit the trade evaluation targets – and they only pay a one-time fee and keep the account for longest so long as they can place at least a single account monthly.
Our Rating
Funded Trading Plus Review: Is It a Trustworthy Trading Firm?
An exclusive review of Funded Trading Plus with features. Deeply explore all about the platform to enjoy financial freedom without any worries.
Price: 119
Price Currency: $
Operating System: Windows, iOS, Android
Application Category: FinanceApplication
5
Pros
- Trade without the pressure of performance. There are no time limits on the Evaluation period
- No consistency rules are enforced on accounts.
- No minimum number of trades to achieve before scaling up the account.
Cons
- No trial version.
- Limited Leverage.
Research Process:
- Time taken to review: 3 days
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