FundedX is a proprietary trading firm offering an exceptional opportunity for traders to manage and scale capital from $5,000 to a staggering $5 million. With a unique two-step evaluation process, a competitive profit-sharing model, and access to various markets, FundedX is designed to cater to both novice and experienced traders.
Key Features of FundedX
FundedX stands out in the prop trading industry with several unique features:
- Capital Scaling: Start with as little as $5,000 and scale up to $5 million.
- Profit Sharing: Traders keep 80-90% of profits.
- Raw Spreads: Competitive pricing for better trade execution.
- Support: Personalized support with a dedicated account manager.
- Market Access: Trade Forex, stocks, commodities, indices, and cryptocurrencies.
Comparison with Other Prop Firms
FundedX is often compared with firms like Elite Trader Funding and Fidelcrest. While all provide funded accounts, the key differences lie in the amount of trading capital offered, profit-sharing models, and trading conditions.
Pros and Cons of FundedX
Pros:
- Capital Access: Scale from $5,000 to $5 million.
- Fair Profit Sharing: 80-90% in favor of the trader.
- Raw Spreads: Competitive pricing for better trade execution.
- Ease of Use: User-friendly platform, even for beginners.
- Modern Technology: Up-to-date tools and features.
Cons:
- Evaluation Process: The two-step evaluation may be challenging for new traders.
- Risk of Loss: High capital trading involves significant risks.
- Limited Information: Fewer reviews and user feedback available.
Getting Started with FundedX
To become a funded trader, you must pass a two-step evaluation challenge. Once successful, you’ll gain access to trading capital and the opportunity to scale up to $5 million.
Steps to Get Started:
- Evaluation Process: Complete the two-step challenge.
- Funded Trading: Start trading with capital from $5,000 to $1 million, with potential scaling to $5 million.
- Profit Sharing: Enjoy an 80-90% profit split based on performance.
- Raw Spreads: Benefit from competitive spreads.
- User-Friendly Platform: Utilize a modern and accessible trading platform.
FundedX Account Types and Pricing
FundedX offers a variety of account sizes, each with its own pricing and trading requirements. Below is a table outlining the different account options:
| Account Size | Price |
|---|---|
| 5K | $69.00 |
| 10K | $129.00 |
| 25K | $199.00 |
| 50K | $299.00 |
| 100K | $529.00 |
| 200K | $989.00 |
| 500K | $2,500.00 |
| 1.0M | $5,000.00 |
Trading Requirements
| Account Size | Trading Period | Min Trading Days | Phase 1 Target | Phase 2 Target | Max Loss | Max Daily Loss |
|---|---|---|---|---|---|---|
| 5K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 10K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 25K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 50K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 100K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 200K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 500K | Unlimited | 3 | 8% | 5% | 10% | 5% |
| 1.0M | Unlimited | 3 | 8% | 5% | 10% | 5% |
FundedX Challenge Rules
The FundedX challenge consists of two phases:
- Phase 1: Achieve a profit target based on your account size.
- Phase 2: Maintain consistent trading performance.
Adhering to guidelines like maximum daily drawdown (5%) and achieving at least 5% account growth by the end of the challenge is crucial.
Profit Split
FundedX offers an attractive profit-sharing model:
- Trader’s Share: 80% to 90%
- Company’s Share: 10% to 20%
- Challenge Phase: Keep 15% of your profits.
Tradable Assets
FundedX allows you to trade across various markets:
- Forex Pairs: 100:1 leverage, extending to 200:1 during evaluations.
- Commodities: 40:1 leverage on gold, silver, oil.
- Indices: 20:1 leverage on major indices like S&P 500 and NASDAQ.
- Cryptocurrencies: 2:1 leverage on Bitcoin, Ethereum, etc.
Is FundedX Legit?
FundedX has received mixed reviews, with an average Trustpilot rating of 3.7 stars. While some traders have successfully passed evaluations, others express concerns about the firm’s credibility. Always conduct thorough research before engaging with any trading platform.
Benefits of Being a Funded Trader
- No Personal Risk: Trade with company capital, reducing personal financial risk.
- Professional Growth: Access to mentorship and a supportive trading community.
- Flexible Trading: Trade at your own pace without strict deadlines.
- Profit Withdrawals: Multiple options like Deel, Coinbase, PayPal, Payoneer, Revolut, and Wise.
Real User Experiences
User experiences vary, with some traders appreciating FundedX’s evaluation process and profit-sharing, while others remain cautious. Weigh both the positive and negative aspects before deciding.
Final Thoughts
FundedX offers a unique opportunity for traders to manage substantial capital with minimal personal risk. However, it may not be suitable for beginners or those seeking extensive educational resources. Always approach trading with caution, and only invest what you can afford to lose.