Monevis
- Supports various payment options, including popular cryptocurrencies and major credit/debit cards
- Profit splits start at 75% and can increase up to 90% based on account performance, rewarding successful traders
- Offers 24/7 customer support to assist with technical issues and trading strategies
- Allows the use of Expert Advisors (EAs), scalping, and news trading under specific conditions
- Clearly defined profit targets and drawdown limits help traders understand the requirements to secure funding
- Commitment to regulatory adherence provides a secure trading environment
- News Trading Allowed
- Diverse Trading Instruments
- Prohibition of HFT could be a disadvantage for traders who rely on this strategy
- Currently, Monevis does not offer free trials, which might deter potential users from trying the platform risk-free
Who Are Monevis Funding?
Monevis Funding is a prominent proprietary trading firm committed to providing traders access to substantial capital. By utilizing Monevis’s resources, traders can significantly expand their trading capabilities and explore broader market opportunities. The firm emphasizes the importance of understanding the terms and conditions associated with their platform, encouraging traders to make well-informed decisions. Monevis operates its MetaTrader 5 (MT5) servers under a MetaQuotes license, ensuring full control over its trading infrastructure and providing a reliable and secure environment for its users.
What Sets Monevis Funding Apart from Other Prop Trading Firms?
Several aspects distinguish Monevis from other futures prop trading firms. Firstly, Monevis maintains ownership of its trading infrastructure by operating its own MetaTrader 5 (MT5) servers. This ensures platform stability and security, eliminating the risks associated with relying on third-party brokerages and potential license losses. The firm’s commitment to regulatory compliance further provides a secure and reliable trading environment for its users.
Additionally, Monevis employs advanced technology to enhance the trading experience. This includes offering minimal spreads and fast transaction execution, which can significantly improve traders’ profitability. The firm also supports a wide range of payment options, including popular cryptocurrencies and major credit/debit cards, providing flexibility and convenience for global traders.
Another notable feature of Monevis is its generous profit split structure. Traders start with a 75% profit split, which can increase up to 90% based on their account performance. This incentivizes traders to perform well and rewards them for their success. Moreover, Monevis offers comprehensive support to its traders, available 24/7. This ensures that traders can get assistance whenever they need it, enhancing their overall trading experience.
Overall, Monevis’s unique combination of infrastructure control, advanced technology, flexible payment methods, generous profit splits, and round-the-clock support sets it apart from other futures prop trading firms, making it a preferred choice for many traders.
What Are the Options for Funded Accounts?
Monevis provides a range of account types and sizes to cater to different trading goals and strategies. The first option is the 1-Step Sharp Edge Challenge. This challenge requires traders to achieve a 9% profit target while managing a maximum trailing drawdown of 6% and a daily drawdown limit of 3%. Participants must engage in a minimum of four trading days, and the challenge prohibits holding positions over the weekend. The use of Expert Advisors (EAs) is permitted, and payouts are processed 14 days after the initial trade.
The second option is the 2-Step Sharp Edge Challenge. This challenge is divided into two phases. In the first phase, traders must reach an 8% profit target with an 8% maximum trailing drawdown and a 5% daily drawdown limit. The second phase requires a 5% profit target with the same drawdown limits as the first phase. Both phases adhere to the same trading regulations as the 1-Step Challenge, providing a structured path for traders to prove their skills.
Another option is the 2-Step Stable Path Challenge, designed for traders who prefer a more calculated approach. This challenge also features two phases: a 7% profit target in the first phase and a 6% profit target in the second phase. It maintains a static maximum drawdown of 8% and a daily drawdown limit of 5%. Unique to this challenge, weekend holding and news trading are permitted, offering greater flexibility to strategic traders.
Each of these challenges comes with specific rules and allowances tailored to suit different trading styles and objectives. By offering diverse options, Monevis ensures that traders can find an account type that aligns with their individual trading strategies and goals.
Is Getting Funded on Monevis Funding Realistic?
Securing funding on Monevis is a realistic goal for traders who are disciplined and adhere to the firm’s stringent rules. The evaluation process is designed to be challenging yet fair, aiming to identify traders who can demonstrate consistent profitability and effective risk management. This ensures that only the most competent traders receive funding, maintaining the firm’s high standards and reputation.
The structure of Monevis’s funding challenges plays a crucial role in making the process achievable. For instance, the profit targets and drawdown limits are set at levels that are demanding but attainable for skilled traders. The 1-Step Sharp Edge Challenge requires a 9% profit target with a 6% maximum trailing drawdown, while the 2-Step Sharp Edge Challenge has more graduated targets of 8% and 5% in its two phases. The Stable Path Challenge, with its 7% and 6% profit targets, provides another pathway, particularly for those who prefer a more calculated and strategic approach.
Furthermore, Monevis’s support system significantly enhances the realism of achieving funding. The firm offers extensive resources, including 24/7 customer support, to assist traders throughout their journey. This continuous support can help traders overcome technical issues, understand the platform better, and receive guidance on trading strategies, making the overall experience more manageable and less daunting.
Additionally, Monevis’s acceptance of various trading strategies, such as the use of Expert Advisors (EAs), scalping, and news trading under specific conditions, allows traders to operate in a manner that suits their style. This flexibility means that traders are not forced into a one-size-fits-all approach but can leverage their strengths and preferred techniques to meet the evaluation criteria.
Payment Proof
Examples of payout certificates and payment proof for Monevis Funding can be seen below.
Is Getting Funded on Monevis Realistic?
Securing funding on Monevis is realistic, provided traders adhere to the firm’s rules and demonstrate consistent profitability. The evaluation process involves meeting profit targets and managing drawdowns within specified limits. The availability of different challenge options allows traders to choose a pathway that aligns with their trading style. Additionally, Monevis’s supportive environment and resources, including comprehensive customer support and educational materials, aid traders in navigating the evaluation process successfully.
What Brokers Does Monevis Use?
Monevis operates its own MetaTrader 5 (MT5) servers, ensuring full control over its trading infrastructure. This setup eliminates reliance on third-party brokers, reducing associated risks and enhancing platform stability and security for its users.
What Trading Instruments Does Monevis Offer?
Monevis provides access to a wide range of trading instruments, including:
- Forex: Major, minor, and exotic currency pairs
- Commodities: Gold, silver, oil, and other commodities
- Indices: Major global indices such as S&P 500, NASDAQ, and FTSE
- Cryptocurrencies: Bitcoin, Ethereum, and other popular digital currencies
- Futures: Various futures contracts across multiple asset classes
This diverse selection enables traders to engage in multiple markets and employ various trading strategies.
What Are the Rules & Restrictions on Monevis?
Monevis enforces several rules and restrictions to maintain a fair and secure trading environment:
- Martingale Strategy: Allowed across all account phases
- Account Merging: Permitted under certain conditions, up to a total balance of 500K
- Stop Loss Orders: Strongly recommended but not mandatory
- Account Activity: Accounts are deemed inactive if no trades are made within 30 days; traders must notify Monevis of planned trading pauses
- Scalping and News Trading: Scalping allowed across all stages; news trading permitted only with Stable Path accounts
- High-Frequency Trading (HFT): Not permitted to ensure fair play
- Weekend Trading: Allowed only with Stable Path accounts
These rules are designed to promote responsible trading practices and protect traders’ capital.
What Leverage Can You Use on Monevis?
Leverage options vary depending on the type of challenge and account. Generally, Monevis offers competitive leverage ratios that enable traders to maximize their trading potential while adhering to risk management guidelines. Specific leverage details are outlined in the challenge rules, ensuring traders are aware of the available leverage for their chosen account type.
Monevis Trust Pilot Reviews
Monevis has received great customer feedback from its traders on Trust Pilot. With an overall score of 4.7 out of 5 from 36 reviews.
Conclusion
Monevis Funding stands out as a significant player in the proprietary trading firm space, offering a range of trading challenges, flexible account options, and a supportive trading environment. Its commitment to security, regulatory compliance, and innovative technology provides traders with a reliable platform to achieve their financial goals. With a comprehensive support system, diverse trading instruments, and generous profit splits, Monevis caters to both novice and experienced traders. While prospective traders should carefully consider the platform’s rules and restrictions, Monevis presents a compelling option for those looking to expand their trading capabilities and succeed in the competitive world of futures prop trading.