In the fast-paced world of online trading, funded trading programs have become increasingly popular, offering traders the opportunity to trade with capital provided by firms like Funded Trading Plus. These programs are especially attractive to those who may not have substantial capital to begin with but have the skills and knowledge to make profitable trades. However, with any financial opportunity, traders often ask, “Is Funded Trading Plus legit?” In this article, we will dive deep into the legitimacy, features, and benefits of Funded Trading Plus, offering you a thorough understanding of what to expect when considering this trading platform.
What is Funded Trading Plus?
Funded Trading Plus is a proprietary trading firm that offers funding to traders who meet specific performance criteria. The company allows traders to access capital to trade in various markets, including forex, futures, and stocks, without requiring them to risk their own money. Instead, traders must pass an evaluation process to demonstrate their skills and risk management abilities. Upon successful completion, they gain access to a funded trading account.
- Funding Models: The company provides different funding options based on a trader’s skill level and performance. Traders can start with smaller capital allocations and scale up as they meet performance targets.
- Profit Sharing: Funded Trading Plus operates on a profit-sharing model where traders receive a percentage of the profits they generate. This is typically structured as a 75/25 or 80/20 split, with the trader receiving the larger portion.
- Account Types: Traders can choose from various account sizes, with the firm offering different levels of capital to cater to both beginners and more experienced traders.
Is Funded Trading Plus Legitimate?
When it comes to assessing the legitimacy of a trading program, there are several factors to consider: transparency, customer feedback, regulatory compliance, and the firm’s overall reputation.
Transparency
Funded Trading Plus provides clear information about its funding models, evaluation processes, and profit-sharing structures. One of the key signs of a legitimate program is transparency, and Funded Trading Plus excels in this area. Their website clearly outlines the steps involved in becoming a funded trader, including the evaluation stage, the rules that must be followed during the funded trading phase, and the profit-sharing terms.
Customer Feedback
To gauge the legitimacy of Funded Trading Plus, it is essential to consider feedback from actual users. Many traders have shared positive reviews and testimonials about their experiences with the firm. Commonly praised aspects include the ease of use of the platform, the support provided during the evaluation process, and the timely payouts of profits. Although there are some negative reviews about the challenge requirements being difficult, such critiques are often related to the evaluation process itself, which is a standard practice in the funded trading industry.
Regulatory Compliance
As with most proprietary trading firms, Funded Trading Plus is not directly regulated by a specific financial authority. However, the company operates in a manner that adheres to industry best practices and provides traders with the tools and resources to succeed. The absence of regulation is a common feature in proprietary trading firms because the traders are technically independent contractors rather than employees of the firm.
Company History and Reputation
Funded Trading Plus has been operating for several years and has built a strong reputation in the funded trading community. Traders report reliable payouts, good customer service, and a flexible trading environment. Their longevity and consistent positive feedback indicate that they are indeed a legitimate company.
How Does Funded Trading Plus Work?
To better understand if Funded Trading Plus is a suitable platform for your trading aspirations, it’s important to know how the system works and what’s expected of you as a trader.
The Evaluation Process
Funded Trading Plus requires traders to pass a comprehensive evaluation process before they are granted access to a funded account. This evaluation is designed to test your ability to manage risk, execute trades efficiently, and follow the firm’s guidelines.
- Challenge Phase: In the first phase, you will be asked to trade a demo account with a set target for profits. The aim is to showcase your risk management skills and your ability to trade profitably over a certain period.
- Rules: During the evaluation, traders must adhere to specific rules like daily drawdown limits, profit targets, and overall risk management guidelines.
- Success Criteria: If you meet or exceed the performance criteria set by Funded Trading Plus, you are then eligible to move onto a funded account.
Funded Account
Once you pass the evaluation, you will receive a live trading account with real capital to trade. The capital size depends on the plan you select during the sign-up process. The key benefits at this stage include:
- Profit Sharing: Funded traders typically keep 75% to 80% of the profits they generate, with the remaining portion going to the firm.
- No Personal Risk: As a funded trader, you don’t risk your personal capital, which reduces the financial burden on you. Instead, your focus should be on managing the risk of the firm’s capital.
- Scalability: As you prove your profitability and consistency, you can scale up to higher funding levels.
The Evaluation Fee
Funded Trading Plus charges a fee for participating in the evaluation process. While this is a standard practice for funded trading firms, it is important to consider whether this fee is a one-time payment or a recurring cost. The evaluation fee varies depending on the account size you choose, but it is typically a reasonable fee when compared to the potential profit opportunities available.
Benefits of Funded Trading Plus
Funded Trading Plus offers numerous benefits to traders who are looking to scale their trading career without risking their own capital.
1. Access to Capital
The most significant benefit of joining Funded Trading Plus is the access to capital. This allows traders to take larger positions and potentially earn more significant profits without risking their own funds.
2. Low Risk
Since traders do not use their own money, the risk is significantly lower compared to self-funded trading accounts. This makes Funded Trading Plus an attractive option for traders who want to minimize their financial exposure.
3. Performance-Based Profit Sharing
With a performance-based profit-sharing model, traders can increase their earnings as they become more successful in their trading. The firm offers traders the opportunity to earn up to 80% of the profits, which is a competitive split in the industry.
4. Flexibility
Funded Trading Plus offers various account sizes and funding plans, allowing traders to choose a program that best fits their experience level and trading goals. This flexibility makes it easier for traders of all levels to access the program.
5. Education and Support
Funded Trading Plus also provides training materials and support for traders, helping them refine their strategies and improve their trading skills. This is a crucial factor in ensuring long-term success in the competitive world of proprietary trading.
Common Concerns About Funded Trading Plus
While Funded Trading Plus is generally considered to be legitimate, there are some concerns and criticisms that potential traders may have:
1. Evaluation Rules Can Be Strict
Some traders report that the evaluation process can be challenging, particularly the daily drawdown limits and the need for consistent profits. However, these rules are in place to ensure that traders have the necessary risk management skills to protect the firm’s capital.
2. Evaluation Fees
As with many funded trading programs, there is an upfront evaluation fee, which can be a concern for some traders. However, these fees are typically refundable if the trader successfully passes the evaluation.
Conclusion: Is Funded Trading Plus Legit?
Based on a thorough review of the company’s offerings, customer feedback, and industry standards, we can confidently say that Funded Trading Plus is a legitimate and reputable firm. Their clear evaluation process, reasonable profit-sharing models, and strong support systems make it a great choice for traders who are looking to scale up without putting their own capital at risk.
While no trading program is without risks, Funded Trading Plus stands out for its transparency, customer satisfaction, and professionalism. If you have the skills and discipline to succeed in a funded trading program, Funded Trading Plus is a legitimate opportunity to grow your trading career.
For more detailed insights on funded trading programs, you can visit this link to learn more.