Swift Funding is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.
Swift Funding Reviews
What is Swift Funding?
Swift Funding is a private trading organization founded by experienced individuals who offer a new outlook to the market. The firm’s founders had a wealth of knowledge in trading & mentorship, aiming to change the trading process from an individual endeavor to a guided one. Their goal is to ensure that traders at all skill levels, from novices to professionals, may find their specialized area.
Swift Funding is centered around a commitment to realism and empowering traders. The company aims to clarify and make proprietary trading understandable and attainable for a broader audience.
Swift Funding distinguishes itself from other proprietary trading organizations by providing the opportunity to trade a large amount of cash with a big profit share and flexible time limitations. The platform is meant for both trading and the advancement of traders. It prioritizes patience, consistency, or skill enhancement over impulsive choices.
The company’s structure includes a 2-step Challenge, with an option for a 1-step Challenge to cater to different degrees of trader confidence or strategy. Swift Funding’s attitude goes beyond numbers; it focuses on fostering a conducive ecosystem for traders to succeed.
K Warner CEO at Swift Funding
CEO K Warner leads Swift Funding, bringing extensive experience and skills to the company. K Warner possesses a distinguished history in the trade sector and has acquired valuable perspectives from many leadership positions. He has shown skill in understanding the complexities of the financial world. K Warner established Swift Funding to empower traders in the retail sector. He is committed to promoting prosperity within the community.
K Warner leads Swift Funding in prioritizing community building through developing connections in both online and offline settings. The company is dedicated to fostering talent and establishing a welcoming atmosphere for new traders. K Warner’s passion for fostering success within the Swift Funding community is evident in this devotion.
Swift Funding Programs and Challenges: Rules and Requirements
Swift Funding provides three unique funding options tailored to accommodate various trading preferences and expertise levels.
Swift Funding Sprint:
| Phase 1 | Funded | |
| Targeted Gains | 10% | – |
| Max Time | Unlimited | Unlimited |
| Daily Loss Limit | 4% | 4% |
| Max Drawdown | 6% | 6% |
| Realised Gains-Split | – | 80% |
| Leverage | 100:1 | 100:1 |
| Minimum Trading Days | 1 | 1 |
| Stoploss Required | Not required | Not required |
| EAs Allowed | No | No |
| $49 | Refund |
Swift Funding Pro:
| Phase 1 | Phase 2 | Funded | |
| Targeted Gains | 8% | 5% | – |
| Max Time | Unlimited | Unlimited | Unlimited |
| Daily Loss Limit | 5% | 5% | 5% |
| Max Drawdown | 8% | 8% | 8% |
| Realised Gains-Split | – | – | 80% |
| Leverage | 100:1 | 100:1 | 100:1 |
| Minimum Trading Days | 1 | 1 | 1 |
| Stoploss Required | Not required | Not required | Not required |
| EAs Allowed | No | No | No |
| $49 | Free | Refund |
Swift Funding Elite:
| Phase 1 | Phase 2 | Funded | |
| Targeted Gains | 8% | 5% | – |
| Max Time | Unlimited | Unlimited | Unlimited |
| Daily Loss Limit | 5% | 5% | 5% |
| Max Drawdown | 10% | 10% | 10% |
| Realised Gains-Split | – | – | 80% |
| Leverage | 50:1 | 50:1 | 50:1 |
| Minimum Trading Days | 1 | 1 | 1 |
| Stoploss Required | Not required | Not required | Not required |
| EAs Allowed | No | No | No |
| $69 | Free | Refund |
What are Forex Prop Challenges?
Thus, Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific period.
A forex prop challenge normally has two primary stages:
1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.
2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.
After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.
Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.
The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:
- Profit targets: A predetermined proportion of the account balance that traders must meet.
- Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.
- Minimum trading days: The number of active trading days required throughout the challenge period.
- Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.
Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.
Swift Funding Broker: Do They Use a Reliable Platform?
Swift Funding provides traders with the option to choose between MetaTrader 4 (MT4) or MetaTrader 5 (MT5) as their preferred trading platforms. This strategy recognizes the varied tastes in the trading community and serves both experienced traders who are accustomed to MT4 and those who need the expanded capabilities of MT5. Swift Funding’s dedication to offering a flexible and all-encompassing trading environment is emphasized.
Swift Funding Fees: How Much Do They Charge?
Swift Funding is dedicated to being transparent about its fee system. The company charges a fixed cost of $7 per lot for all pairs excluding indices and cryptocurrencies. The fee is explicitly mentioned to enable traders to comprehend the expenses linked to their transactions.
Swift Funding provides a simulated scaling plan to assist traders in growing their accounts. The strategy involves a trader’s account balance increasing by 25% every three months, contingent on meeting particular requirements. Traders must keep their account balance at the initial level and earn a total profit of 12% or more within the last 90 days to be eligible for scaling up.
Swift Funding’s scaling plan aims to promote trader growth and acknowledge sustained performance.
For instance:
- Month 1: +6%
- Month 2: -3%
- Month 3: +9%
- Total = 12%
Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:
1. Challenge Fees
These are upfront fees paid by traders to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.
2. Account Setup or Administration Fees
Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.
3. Monthly Desk Fees
Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.
4. Profit Split
While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.
5. Software or Data Fees
In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.
6. Education or Training Fees
Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.
Key Considerations
- Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.
- Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.
- Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.
Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.
Swift Funding Proof of Payment:
Swift Funding is a trading organization known for its dedication to the success of its traders. This is evident in their payout structure, where traders are rewarded according to their success. The organization provides traders who achieve their set goals with a remarkable 80% share of the money earned. The compensation system is intended to incentivize traders to demonstrate reliability, commitment, and expertise in reaching their goals.
Swift Funding Customer Support:
Swift Funding acknowledges the need for strong support services for customers to help partner traders promptly deal with their complaints and inquiries. The company provides two main avenues for clients to reach their technical support team, guaranteeing easy access to assistance. The email ID of the firm is support@swiftfunding.io. The available contact options include email and joining the official Discord channel.
What Makes Swift Funding Unique?
- Aspiring prop traders seeking to enter proprietary trading without strict deadlines may find Swift Funding’s strategy refreshing.
- Experienced traders who value knowledge and consistent performance above fast returns would appreciate the firm’s ideas.
- Strategic traders who value a systematic and patient approach to trading will resonate with Swift Funding’s concept.
Swift Funding Reviews: What Do Their Customers Say?
Swift Funding has a rating of 4.3 out of 5 stars on Trustpilot. They are on the grand stage near the platform. A total of 53 reviews have been left by customers on Trustpilot.
#1. Daren stated that Having worked in customer service for a considerable period, he emphasizes the importance of a company’s client services department being top-notch, regardless of the company’s size. Despite imperfections, exceptional customer service from these individuals compensates for any problems that may arise.
They are highly engaged on Discord to respond to inquiries. He has bombarded them with inquiries nearly every day, and they consistently provide me with answers. He encountered a complicated billing problem, but it was resolved promptly and without hesitation.
#2. PK Capital is impressed with Swift Funding, according to their statement. The slippage seemed to be modest and no problems were experienced. Their customer service is outstanding; even when they state they are unreachable and will reply within a few hours, they usually respond much sooner.
The only slightly slow part was the payout process, which lasted 7 days. The initial reimbursement for prop firms usually takes longer due to the required contracts and documentation, but waiting 7 days was too lengthy. This delay was unusual because he utilized a distinct email address for the payout procedure. Nevertheless, he plans to persist with Swift Funding in the future.
#3. Ayinde Yusuf praises Swiftfund for its excellent customer care and expresses his admiration for the platform. Please expedite his payout process. He is grateful for receiving payment and values the customer support.
#4. Robindeep Singh stated that there is no slippage while discussing take profit (TP), but if stop loss (SL) is triggered, it will deplete his account. The stop loss was set at 4500 and the position was closed at a loss of 5100.
There was no information or availability. He brought up this matter with the support team, but they only responded with an excuse related to slippage. Do not refrain from purchasing solely based on Matt or Myfundedfx. They are significantly superior to rapid funding.
#5. Pablo M. P. advised against it. There is an undisclosed following limit that can quickly liquidate him, catching him off guard and leaving little time to react. His account was closed with a 0.13% loss, which is unbelievable.
Conclusion
Swift Funding has established itself as a formidable competitor in the realm of proprietary trading. The organization stands out in the industry due to its dedication to trader success, clear practices, and skilled leadership.
Swift Funding provides distinctive funding solutions, strong risk management systems, and a variety of trading options suitable for traders at every expertise level. Under the leadership of CEO K Warner, the company has positioned itself as a dependable ally for traders in need of expansion, guidance, and a nurturing trading atmosphere.
Swift Funding, established in January 2024, has shown agility, transparency, and a dedication to fostering success in its trading community. The company has the potential to become a major influence in influencing the future of proprietary trading as it grows and evolves.
