FunderPro Review

What is FunderPro?

FunderPro, founded in February 2023 and located in Malta at 30/1 Kenilworth Court, Sir Augustus Bartolo Street, Ta’Xbiex XBX1093, is a proprietary trading firm that allows traders to operate with capital amounts of up to $200,000. 

FunderPro has emerged as a notable participant in the business after partnering with ThinkMarkets as their broker.

FunderPro has just announced sponsorship for Oliver Bearman, a brilliant young British racing driver linked with the Ferrari F1 Driver Academy and currently participating in FIA Formula 2 with Prema Racing. 

Bearman has already won multiple titles, including the FIA Formula 4 Championships in Germany and Italy in 2021, establishing himself as a rising star in the sport. FunderPro has decided to back him as he rises through the ranks.

FunderPro CEO Gary Mullen expressed excitement about the agreement, saying, We are thrilled to be sponsoring Ollie Bearman and supporting such a promising young talent.

We are always looking for fresh ways to engage with our audience as a new entrant in the proprietary trading market, and a collaborating, vibrant driver like Ollie is a wonderful fit. His trajectory parallels how we approach investing in the growth of prospective traders.

Throughout the F2 race season, FunderPro’s branding will be visible on Ollie’s racing car, suit, and social media outlets. FunderPro and Ollie’s team will work together to expand the sponsorship’s global reach, emphasizing the importance of hard work and dedication. 

Through such collaborations, FunderPro hopes to create a good impact on young people by educating them about global markets and the communities to which they belong.

Gary Mullen CEO (Chief Executive Officer) at FunderPro 

Gary Mullen, the Chief Executive Officer of FunderPro, has led his team in devising a challenge that is poised to be a “game changer” in the proprietary trading business market. Their novelty is in the elimination of cumbersome trading restrictions, as well as the provision of unlimited time for traders to complete the challenge.

Mullen and his team are excited about giving this opportunity to traders worldwide, allowing them to demonstrate their trading acumen and leverage their cash to generate significant benefits. Mullen is also sure that the increased resources provided by FunderPro will help traders perform better, resulting in better outcomes.

FunderPro, which was introduced to the market by Red Acre Group, operates under the umbrella of this forward-thinking fintech giant. Red Acre Group is well-known for its cutting-edge technology, and it excels in a variety of sophisticated industries, with a special emphasis on fintech and blockchain technology. 

As a market leader, the firm provides superior business solutions, allowing enterprises to outsource specialists for increased operational efficiency. Red Acre Ltd’s primary purpose is to simplify the problems of running a business by providing strategic platforms and long-term solutions to assure long-term performance and success.

FunderPro Funding Programs and Challenges: Rules and Requirements 

FunderPro offers the following assessment program accounts to its traders.

Evaluation Program Accounts

The FunderPro evaluation program accounts are designed to discover consistent and disciplined traders who are rewarded for their consistency throughout the two-phase evaluation period. Users can trade with a leverage of 1:100 on the evaluation program account.

Phase One of the evaluation procedure requires traders to attain a 10% profit target while complying with the 5% maximum daily loss and 10% maximum loss guidelines. During this period, there were no restrictions on the maximum trading time per day, giving traders the freedom to take their time with trades. To advance to Phase Two, however, a minimum of five trading days must be accomplished.

Traders must achieve an 8% profit target while adhering to the 5% daily loss and 10% maximum loss guidelines in Phase Two of the review. Similarly to Phase One, there are no constraints on the maximum trading time per day, allowing traders to manage trades at their speed. To move to a funded account, a minimum of five trading days is required.

Traders who complete both evaluation processes are eligible for a funded account with no specific profit targets. The only restrictions are that they follow the 5% maximum daily loss and 10% maximum loss rules. 

The initial payout occurs seven calendar days after the first position is placed on the funded account. Subsequent payments will be made every week. The profit split is set at 80% based on the profits made in the funded account.

Evaluation Program Account Scaling Plan

• Valuation Program Accounts include a scaling plan.
• Traders must achieve a profit target of 10% or more within three months, with two out of the three months being profitable.
• Successful completion results in a 50% increase in the original account balance.
• Example: If the initial account is $200,000, it increases to $300,000 after three months.
• Subsequently, the $300,000 balance increases to $400,000 after the next three months, and the pattern continues.
• Trading instruments for the evaluation program accounts encompass forex pairs, commodities, indices, and cryptocurrencies.

Evaluation Program Account Rules

1. Profit Targets:
   • Phase 1: 10% profit target.
   • Phase 2: 8% profit target.
   • Funded accounts: No profit targets.
2. Maximum Daily Loss:
   • 5% maximum daily loss for all account sizes.
3. Maximum Loss:
   • 10% maximum loss for all account sizes.
4. Minimum Trading Days:
   • Both phases: Minimum 5 trading day requirement.
   • Funded accounts: No minimum trading day requirements.
5. No News Trading:
   • Traders are prohibited from trading during high-impact news releases.
   • All open positions must be closed 2 minutes before a high-impact news release for associated symbols.
6. Consistency Rule:
   • Applicable only in Phase 2 of the evaluation.
   • Requires consistent position sizes, risk management, losses, and gains.
   • The profit earned on the best trade must not exceed 60% of the overall profit target.

FunderPro Broker: Do They Use a Reliable Platform?

• Assessing Prop Firms for Forex Trading Compatibility: When choosing prop organizations that match the forex trading style, it is essential to assess the practicality of their trading prerequisites.

An offer that appears tempting, such as a high percentage profit split on a well-funded account, may become less appealing if the firm expects excessively high percentage profits every month with low percentage maximum drawdowns. This greatly reduces the probability of achieving success.

• Realistic Trading Opportunities with FunderPro: FunderPro offers practical trading opportunities because its evaluation program accounts are based on actual criteria. This makes it a highly recommended option for acquiring funding.

The program establishes realistic profit objectives (10% in phase one and 5% in phase two) in addition to implementing conventional limits for maximum loss (5% maximum daily and 10% maximum loss).

It is worth mentioning that both evaluation periods do not have any restrictions on the maximum duration of trading, which increases the flexibility for traders.

• Conditions for Capital Receipt: FunderPro’s evaluation program provides attainable trading goals and compensation conditions, making it a pragmatic choice for those in need of funding.

FunderPro’s ability to strike a balance between achievable profit ambitions and sensible regulations puts it as a highly desirable option in the field of proprietary trading.

Which broker does FunderPro make use of?

FunderPro employs ThinkMarkets as its broker.

ThinkMarkets is a high-quality online brokerage that deals with multiple types of assets. It has its main offices in London and Melbourne. They offer efficient and convenient access to a diverse array of markets, along with highly acclaimed trading platforms such as MetaTrader 4, MetaTrader 5, and their own ThinkTrader platform. Regarding trading platforms, they provide the opportunity to engage in trading activities using the renowned MetaTrader 4 and MetaTrader 5 platforms.

FunderPro Fees: How Much Do They Charge? 

Trading Commission:

Education & Support for Traders

FunderPro offers a wealth of educational material on its website. The blog part of the website is where it may be found.

FunderPro offers traders a meticulously organized dashboard that facilitates risk management by providing real-time statistics on their trading goals.

FunderPro Proof of Payment:

Established in February 2023, FundedPro functions as a proprietary trading firm. After successfully obtaining funds, traders can expect to get their initial payment within 7 calendar days, as long as they are in a profitable position. 

As a result, traders qualify for weekly rewards, which contribute to a reliable and regular payout system. To obtain concrete proof of the payment process, individuals can watch a video with Gary Mullen, the CEO of FundedPro, interviewing the company’s initial trader who received funding. 

FunderPro Customer Support: 

FunderPro is also present on several social media platforms. Furthermore, FunderPro maintains a Discord channel boasting a membership of 286 individuals. 

1. Instagram:

FunderPro’s Instagram presence is thriving, with 5,267 followers. This platform offers a visual journey into the world of trading, providing a unique perspective on the firm’s activities and achievements. It’s a source of inspiration for traders and an avenue for staying connected with the community.

2. Twitter:

FunderPro has cultivated a community of 2,689 followers on Twitter. This platform functions as a dynamic environment for immediate updates, news, and engagement with the trading community. Traders can remain updated on the newest advancements and participate in conversations with those who share similar interests by subscribing to their Twitter accounts.

3. YouTube: 

FunderPro has a YouTube channel that is both instructive and fascinating, and it now has 951 subscribers. This channel contains a collection of seven uploaded movies, which serve as a helpful resource for traders at all skill levels. The YouTube channel enhances FunderPro’s capabilities by providing educational content and insights into the trading world in a visual format.

4. LinkedIn 

The FunderPro community has established a lively presence on LinkedIn, with the firm’s LinkedIn page attracting 771 followers. This area functions as an interactive center for engaging in debates, exchanging experiences, and seeking help. FunderPro’s dedication to cultivating a nurturing trading environment is evident.

5. FAQs and Support Page:

FunderPro features a Frequently Asked Questions (FAQ) section located at the bottom of its homepage. There, traders will find the data that could have been lacking.

The support team can be reached through their social media channels, by sending a message on their website, or by contacting them via email at [email protected]. Therefore, they boast a round-the-clock live chat support crew.

Furthermore, FunderPro maintains a Discord channel boasting a membership of 286 individuals, as well as a Telegram group with 12 members, to facilitate community engagement and interaction.

What Makes FunderPro Unique? 

FunderPro distinguishes itself from several top prop firms by abstaining from imposing regulations on the trading approach. This unique strategy enables traders to participate in news trading while avoiding high-impact news releases and to hold trades overnight and over weekends without any limitations.

Unlike other proprietary organizations, FunderPro’s assessment procedure is structured in two steps, requiring traders to complete both phases to qualify for payments. The profit targets for phase one and phase two are established at 10% and 8% respectively, along with limitations that limit daily gains to a maximum of 5% and losses to a maximum of 10%. 

Traders must engage in active trading for a least 5 days in each phase to betor financing. Significantly, FunderPro’s evaluation programs include a scalability strategy. 

In contrast to other prominent prop firms in the industry, FunderPro does not put any maximum time restrictions on the review phases, and the profit targets set are considered to be attainable.

Comparison between FunderPro and Funding Pips

FunderPro Reviews: What Do Their Customers Say?

Trustpilot:

Trustpilot has achieved an impressive rating of 4.0/5 based on 79 reviews. Nevertheless, it is important to acknowledge that FunderPro’s fundraising program is still in its early stages, implying that additional comments will be incorporated in due course. The absence of feedback is attributable to their recent commencement of operations in February 2023.

#1. Marisa G praised the goods as excellent and commended the customer support as outstanding. An exceptionally recommended product for all traders. He posed inquiries to the customer care department and received immediate assistance. Exemplary display of professionalism. Amazed.

#2. Nasser Mustafa expressed his warm greeting to everyone. FunderPro They demonstrated integrity by fulfilling their promise to award me the competition prize, which consisted of a complimentary challenge account, at the end of the week. Thank you, company. FunderPro professional, the statement is not motivated by politeness but rather reflects the truth. 

This company is reputable and secure. He experienced joy when he was bestowed with a complimentary account. Remaining award. If he completes the stages of the challenge, please pray for his success. Thank you on two occasions. Professional funder

#3. Bruce Leroy expressed his appreciation to Christian, Ivy, and the online support team for their prompt steps last week, which showed a sincere commitment to resolving the difficulties and taking complete responsibility.

The promptness of activities, clarity in communication, and a readiness to assume accountability have been praiseworthy.

He eagerly anticipates a prosperous relationship in the future. he will give him a rating of five stars. Continue to excel in efforts and strive for continuous improvement. Expressing gratitude!

#4. Mike spoke with FunderPro about whether he had completed the challenge and had a query regarding his active account. Assuming he begins the day with a balance of $160,000, a 5% drawdown would result in a reduction of $8,000. If he reduced his balance to $9,000. Considering that the account is active and contains actual funds, would he still receive 80% of the remaining $51,000 in his account?

Response: Negative! The account is terminated as a result of a contract violation, and we retain the full amount of $51,000. The significant aspect of Gary’s discussion with Michael is the revelation of payouts exceeding $16k, which are now being processed on demand by the trader, rather than every week. 

He included a star as a means of safeguarding the Traders’ revenue. If FunderPro were to modify the drawdown initial starting amount, regardless of the balance, the user would upgrade to a higher rating. 

He believes that this is a significant stride towards progress. In addition, he will mention that their customer support has been excellent. He believes that FunderPro is heading in the correct direction.

#5. According to Nexapro. online, she expressed great satisfaction with the service offered by the Website/company mentioned under her name, which handled the returns. Inform them promptly about their issues and facilitate a reimbursement.

#6. Bradley Adams stated that he willingly paid $50,000 for a challenge, even though the rates had already increased since his first try. Yesterday, he received an email confirming the receipt of payment. Displayed on his profile as a completed payment. Binance Indicates that they received payment. 

However, no passwords or log in credentials have been provided for authentication. He sent a message inquiring about the current situation. Currently, he is unable to access his account on FunderPro, even though they have already received money. Before submitting this, he made one final attempt to log in. There is no progress or result at this time.

Conclusion

To summarize, FunderPro is a well-regarded proprietary trading firm that offers traders the option to select from a range of evaluation program account sizes, giving them flexibility in their choices. To acquire finance and qualify for profit splits, the completion of both phases is required in the assessment programs, which adhere to the industry-standard two-phase framework. 

FunderPro establishes attainable profit goals of 10% during phase one and 8% during phase two, by feasible trading objectives that are reinforced by regulations limiting daily losses to a maximum of 5% and overall losses to a maximum of 10%. 

The evaluation programs additionally allow traders to achieve 80% profit splits, while also providing them with the chance to increase their account sizes up to $5 million.

FunderPro is a suitable choice for those in need of a proprietary trading firm that has lenient trading regulations. Although the organization is relatively new, it provides advantageous terms that cater to a wide range of individuals with distinct trading styles. The whole scope of FunderPro’s operations stands out as a highly potential participant in the proprietary trading sector.