Introduction
The Funded Trader (TFT) is a prominent prop trading firm established in May 2021, headquartered in New Jersey, USA. With a mission to empower traders by providing access to substantial trading capital, TFT has quickly gained recognition in the Forex trading community. This article aims to evaluate TFT’s credibility, policies, advantages, and drawbacks, offering insights for traders seeking a reliable prop firm. Choosing a reputable funded trading program is critical in the volatile world of Forex, and this review will help you determine if TFT is the right fit.
Overview of The Funded Trader
Founded by members of the Forex League and VVS Academy, TFT has built a solid reputation, boasting a 4.7/5 rating on Trustpilot based on global reviews. The firm offers funded accounts with capital ranging from $5,000 to $400,000, with the potential to scale up to $1,500,000. TFT partners with reputable brokers, Nash Markets and Purple Trading Seychelles, ensuring a reliable trading environment. Its rapid growth and community trust make it a top contender in the prop trading industry.
Account Types and Trading Policies
TFT offers a variety of account types tailored to different trading styles and experience levels:
- Standard: No time limits, ideal for most traders.
- Rapid: Accelerated evaluation process for faster funding.
- Royal: Most lenient rules with premium benefits.
- Knight: Single-phase challenge for confident traders.
Account sizes range from $5,000 to $400,000, catering to both novice and seasoned traders. Key trading policies include:
- Drawdown Limits: 6% daily, 12% maximum.
- Profit Targets: 6% over three months for account scaling.
- Leverage: Up to 1:200, among the highest in the industry.
- Profit Split: Up to 90% upon scaling.
- Trading Flexibility: Allows holding positions overnight and over weekends.
These policies provide traders with significant flexibility while maintaining risk management standards.
Participation and Evaluation Process
Joining TFT is straightforward:
- Registration: Sign up, agree to terms, and pay the challenge fee via credit card or cryptocurrency.
- Account Access: Receive MT4/MT5 login credentials via email.
- KYC Requirements: Submit identity (ID/passport) and address proof (utility bill/bank statement).
The evaluation process consists of two phases:
- Phase 1: Achieve a profit target (e.g., $10,000 for a $100,000 account) within 35 days.
- Phase 2: Meet a lower profit target (e.g., $5,000) with similar risk parameters.
Traders who achieve positive returns but fail to meet targets can retake the challenge for free, an industry-leading feature that reduces financial pressure.
Advantages of The Funded Trader
TFT stands out for several reasons:
- High Credibility: A 4.7/5 Trustpilot rating reflects strong community trust.
- Flexible Policies: High leverage (1:200) and lenient drawdown rules (12% max).
- Promotions: Regular discounts (5-10%) on challenge fees.
- Unlimited Free Retries: Traders can retry challenges without additional costs if they achieve positive returns.
- Responsive Support: Quick resolution of technical issues.
- EA Support: Allows Expert Advisors with an optional add-on, enhancing trading strategies.
These features make TFT an attractive option for traders seeking flexibility and support.
Drawbacks of The Funded Trader
Despite its strengths, TFT has some limitations:
- Support Speed: Customer service response times can be inconsistent.
- Basic Dashboard: The user interface lacks advanced features compared to competitors.
- News Trading Restrictions: Certain accounts (Standard Regular, Knight) prohibit news trading.
- No Free Demo: Unlike some competitors, TFT does not offer a free demo account.
These drawbacks may affect traders who prioritize localized support or advanced platform features.
Comparison with Other Prop Firms
When compared to industry leaders like FTMO and My Forex Funds, TFT holds its own:
- TFT vs. FTMO: TFT offers a higher maximum drawdown (12% vs. 10%) and more flexible policies, but FTMO has a more polished platform and fewer promotions.
- TFT vs. My Forex Funds: TFT’s Phase 1 profit target (10%) is higher than My Forex Funds’ (8%), but TFT’s scaling program and profit split (up to 90%) are more generous.
- Market Position: TFT ranks among the top three prop firms globally, trailing slightly behind FTMO and My Forex Funds.
TFT’s balance of flexibility and credibility makes it a strong competitor in the prop trading space.
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Tips for Participating in TFT
To maximize success with TFT, consider the following:
- Risk Management: Set strict daily/weekly loss limits to avoid breaching drawdown rules.
- Rule Compliance: Avoid prohibited strategies like exploiting server errors or trading delayed data.
- Account Selection: Opt for Royal or Standard Swing accounts for more lenient rules.
- Stay Informed: Monitor TFT’s Discord community and Trustpilot for policy updates and trader feedback.
These practices will help traders navigate TFT’s evaluation process effectively.
Conclusion
The Funded Trader is a highly reputable prop firm offering flexible trading conditions, generous profit splits, and substantial capital access. Its unlimited free retries and high leverage make it particularly appealing for experienced traders. However, the lack of Vietnamese support and occasional delays in customer service are areas for improvement. Overall, TFT is an excellent choice for traders seeking a reliable funded trading program. To explore TFT, consider joining their monthly demo competitions for a chance to earn a free challenge account.
References
- Trustpilot
- Disclaimer: This article is for informational purposes only and does not constitute investment advice.
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