How to Get A Funded Trading Account in 5 Simple Steps
Learn how to get a funded trading account in 5 easy steps. Start trading with confidence today!
As a trader, you might have heard about funded accounts but are still figuring out how to get one. Securing one of the best funded trading accounts can be a game changer for your trading business. This article will help you get a funded trading account so you can trade forex, stocks, crypto, and precious metals with confidence and the backing of a trusted firm.
AquaFunded's funded trading program can help you achieve your goals and open a funded trading account to start trading forex, stocks, crypto, and precious metals through a reputable firm.
What Is A Funded Trading Account?
A funded trading account provides a trader with access to an established firm’s financial resources. Funded trading is an alternative to traditional trading that helps level the playing field between new investors and experienced traders. Before funded trading, individuals with larger trading accounts enjoyed a significant advantage over smaller account holders, especially in short-term trading. Funded trading accounts allow individuals to trade with larger balances to help compound returns and improve their chances of success.
What Are the Benefits of Funded Trading Accounts?
Funded trading accounts offer various benefits. First, they provide capital to help traders succeed. In addition to the financial backing, traders also gain access to a firm’s trading platform and resources, including advanced charting tools, analytics, and risk management capabilities. Funded trading accounts also allow traders to earn a percentage of their profits while minimizing financial risk.
Can I Get Funding For Trading?
Yes, it is possible to get funded for trading. Numerous firms provide funded trading, but they aren’t all legitimate. As a funded trader, your first task is finding a system that works for you and that you can feel confident about. Generally, you’ll follow the following steps to become a funded trader with most providers.
1. Pick a Company and Pay a Fee
Funding companies typically have a successful track record of adding talented traders to their teams who can generate consistent profits and won’t lose the firm’s capital. So, the process begins with selecting a reputable company to work with.
An applicant must pay an upfront fee for most funded trading opportunities to be assessed as a trader. This test can take different forms, but typically, you must show your worth by piloting a demo account and consistently producing good results before being handed the reins to a funded account.
The upfront fee is usually not refunded if you do not pass the evaluation. If you pass, the cost can be refunded once you make enough money for the funding company.
2. Trade Within the Company’s Rules
Once funded, a trader can use the funding company’s platform to trade on several exchanges. Depending on the company, traders can work in futures, crypto, or traditional markets.
Remember that funded traders are not trading on their behalf but on behalf of the funding company. This method is an advantage not just because of the access to funds but also because funded traders can jump in and begin immediately trading in any market the company has access to without having to jump through all the hoops that an individual trader would.
Funding companies have different rules regarding how much can be traded per day. Some have complex drawdown rules and a zero-tolerance or “strikes” policy if these rules are not followed. Review your company’s rules thoroughly before trading to avoid costly errors.
3. Withdraw and Scale Your Trading
Depending on the company you choose to trade with, the profit split can be as high as 90% going to you and 10% to the company. Assuming you follow the company’s trading rules, you are generally free to trade as you see fit. Access to funded capital allows for more significant returns than if you were trading with your funds, which can help you see more substantial returns.
Most funding companies charge a monthly fee based on how much capital you have access to. If you succeed with trading and borrow more money to invest through your funding company, you may pay a higher commission percentage. Review your company’s fee schedule before you trade to know precisely what you can expect to see in your account at the end of the trading day.
What Is AquaFunded and What Do They Offer?
AquaFunded is a Dubai-based funded trading program that allows traders to access large capital accounts and earn up to 95% profit splits. The company provides a unique funding model with easy-to-achieve 8% profit targets and fast bi-weekly payouts, with an option for the first payout in just 7 days.
AquaFunded caters to traders of all experience levels, from beginners to those with a few years of experience, who want to trade with reduced risk using the firm's capital instead of their own. With its competitive features and UAE-based operations, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits. Get started with AquaFunded's funded trading program today!
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How to Get A Funded Trading Account in 5 Simple Steps
Research and Choose a Provider: Find the Right Fit for You
The first step in acquiring a funded trading account is researching and choosing a provider. Many companies and firms offer funded trading accounts, each with its requirements and conditions. Do your due diligence and choose a provider that aligns with your trading goals and strategies is crucial. A good provider is AquaFunded.
Meet the Eligibility Requirements: Check the Boxes to Qualify
Once you have chosen a provider, the next step is to meet their eligibility requirements. These requirements may vary from company to company but generally include minimum trading experience, profitability in a simulated trading environment, and a clean trading record. We will discuss these requirements in more detail in the next section.
Submit an Application: Fill Out the Forms to Get Started
After meeting the eligibility requirements, the next step is to apply for a funded trading account. This usually involves filling out an online form and providing supporting documents such as ID, proof of address, and trading records. Reviewing and double-checking all information before applying is essential to avoid delays or rejections.
Pass the Evaluation Process: Show Off Your Skills
Once your application has been submitted, it will be evaluated, where your trading skills and strategies will be tested. This may involve trading in a simulated environment or providing a track record of your past trades. This evaluation aims to ensure that you are a skilled and profitable trader capable of managing a funded trading account.
Sign the Agreement and Start Trading: Review the Terms Before You Jump In
If you pass the evaluation process, you must sign an agreement with the provider. This agreement will outline the terms and conditions of the funded trading account, including profit-sharing arrangements, risk management guidelines, and any other rules or restrictions. Once the agreement is signed, you can start trading with your funded account and take advantage of its benefits.
Is It Hard to Get A Funded Trading Account?
A funded trading account is a unique trading account financed by a proprietary trading firm. Instead of using your money to trade, you trade with the firm's capital and keep a portion of the profits. First, you must pass the firm's evaluation process to prove that you have the skills to trade their capital.
Once you complete the evaluation and are funded, you will receive a trading account with a specific amount of capital. You will also be given rules to follow, including profit targets, drawdown limits, and restrictions on trading particular markets. If you follow the rules and meet the profit targets, you can keep a large percentage of the profits and may even receive additional funding.
How Do You Get A Funded Trading Account?
To get a funded trading account, you must pass an evaluation process. Each proprietary trading firm's unique evaluation process and criteria typically involve a few steps. First, you must sign up for an evaluation program and pay a fee. This fee is similar to a deposit for a rental property, as it provides the trading firm with some security if you fail to meet the evaluation criteria.
Next, you will receive a demo trading account with virtual funds, and your goal is to trade the account to meet the firm's specific objectives. You must achieve a target profit while adhering to strict risk management guidelines. Once you pass the evaluation, you will be given access to a funded trading account.
How Hard Is It To Get A Funded Trading Account?
Getting a funded trading account can be challenging. To become a funded trader, you'll have to pass two or three rounds of challenges set by the prop firms. They are challenging! The prop firms bet a large amount of capital on their funded traders.
As such, they set challenges to ensure that the traders who apply are serious about trading and have sufficient knowledge. Look for firms that offer comprehensive risk management guidelines, mentoring, coaching, and educational resources. In addition, consider whether they have a community where traders can discuss tips and strategies.
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12 Best Funded Trading Platforms for Success
1. AquaFunded: The Unique Trading Program.
AquaFunded is a Dubai-based funded trading program that allows traders to access large capital accounts and earn up to 95% profit splits. The company provides a unique funding model with easy-to-achieve 8% profit targets and fast bi-weekly payouts, with an option for the first payout in just 7 days.
AquaFunded caters to traders of all experience levels, from beginners to those with a few years of experience, who want to trade with reduced risk using the firm's capital instead of their own. With its competitive features and UAE-based operations, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits. Get started with AquaFunded's funded trading program today!
2. IC Funded: The Flexible Trading Frontier
IC Funded is one of the best prop trading firms for traders looking to scale their trading operations and maximize profits. What sets IC Funded apart is its flexibility in the evaluation process, where time limits don’t pressure traders. This is a big deal because it allows you to trade at your own pace, focusing on strategy and skill rather than racing against the clock. Plus, with a profit split up to 80%, it’s a fantastic deal for traders who want to keep more of what they earn.
Another reason why IC Funded is the go-to choice for many traders is its broad range of tradable instruments and support for popular trading platforms like MetaTrader 4 and 5. Whether you’re into forex, crypto, or commodities, IC Funded has you covered with top-tier tools that help you execute your strategies effectively.
The firm also allows various trading styles, from scalping to hedging, enabling you to trade in a way that suits you best. The firm also stays engaged with its community through social media, keeping traders updated and connected. All these factors combined make IC Funded a top choice for traders serious about growing their trading careers while enjoying the flexibility and support needed to succeed.
Pros
- No time limits on evaluations.
- Profit split up to 80%.
- Access to over 150 trading instruments.
- Flexible trading strategies allowed.
- Bi-weekly profit withdrawals.
- Unlimited free retries if traders fail the challenge.
Cons
- Central financial authorities do not regulate them.
- Initial fee is non-refundable with the first withdrawal.
- Limited asset selection compared to some firms.
3. FTMO: The Transparent Trading Platform
FTMO is one of the best prop-simulated trading firms for new and experienced traders. Started in the Czech Republic in 2014, the platform’s challenge rules and verification process are transparent and user-friendly. FTMO works by making traders go through a two-step testing challenge. Fair warning: the challenge is intense.
But if you’re successful in the evaluation, you’re offered a chance to remotely manage your account with a balance of up to $400,000. FTMO monitors transactions, and there’s a payment of 80% in the first successful round of actual trading. FTMO is legally compliant and adheres to European Financial Legislation guidelines under the supervision of the local regulator. Overall, FTMO is ideal for traders with simulated trading experience—there are challenging testing conditions for people who want to transition into actual trading. Another unique aspect of FTMO is that it has been featured on Forbes and won the Deloitte Technology Fast 50 award three years in a row.
You must pay a fee to take the evaluation on this platform, and the simulated trading fee depends on the risk level. However, if you succeed in the assessment and join FTMO as a trader, you can earn your fee back with the first virtual profit from your funded simulated trading account. Here’s a breakdown of the costs:
Pros
- The starting fee is affordable.
- Profit up to 90% after scaling if you join them as a trader.
- With diverse ranges, you can choose a demo account from $10,000 to $200,000.
- You can select the risk level based on your preferences, such as regular or aggressive.
- Leverage is up to 1:100.
Cons
- The requirements are stringent, and the initial test is challenging.
- You must be an experienced trader or learn quickly to leverage this prop-simulated trading platform fully.
4. TakeProfitTrader: The Supportive Trading Program
As a trader, my experience with TakeProfitTrader has significantly enhanced my trading journey. Their transparent funding process lets me withdraw profits from day one, eliminating unnecessary delays. With a supportive platform and a focus on professionalism, I could concentrate on trading effectively; hence, I could benefit from an impressive 80% profit split.
Pros
- One advantage that I’ve found with TakeProfitTrader is the immediate withdrawals.
- High profit split for both standard and PRO+ members.
- I received flexible account resets that provide up to three resets on PRO accounts, offering a safety net for traders.
Cons
- Monthly fees in addition to the initial one-time fee.
5. Funded Next: The Rapid Trading Program
Funded Next (MFF) was created in 2020. It’s one of the fastest-growing prop-simulated trading firms located in Toronto, Canada, reaching thousands of traders from more than 150 countries. Even though the company is relatively new, it funded over 2,000 forex traders in 2022. Over time, it has developed a good reputation and credibility, and now the firm competes with top names in the industry. This prop-simulated trading firm is quite versatile. It offers three different funding programs: rapid, evaluation, and accelerated. These are designed according to different simulated trading profiles, such as beginners, experienced professionals, and full-time traders.
Profit split is also one of the reasons Funded Next has so many traders working on it. The virtual profit split goes up to 85% when traders bring consistent revenue. It also provides fast payout options. You can request to withdraw your virtual profits at any time. With MFF’s VIP simulated trading account, you get a 90% split. In addition, you get payments with no time restrictions, semi-automated payout confirmations, and many more benefits. You need to make a one-time payment to get access to the platform. You can also claim various membership discounts if you have a coupon code.
Pros
- Up to 85% profit.
- A 100% refund of registration fees is available upon clearing evaluation.
- Affordable prices.
- Earn virtual profits even without the evaluation process.
- 1:500 high leverage available.
Cons
- Customer support is available only via email and online chat from Monday to Friday (24/5).
- The company is still relatively new and has a short track record.
6. FidelCrest: The High Capital Trading Firm
Among some of the best-funded trader programs, Fidelcrest has also made its place through its exceptional trading services. Founded in 2018, Fidelcrest is among the few prop firms that cater to citizens in the US, Canada, Australia, and other developed countries. Fidelcrest provides a funded trading account of up to $2 Million to traders who pass its 2-phase evaluation challenge.
The trading rules at Fidelcrest are competitive and require traders to show effective trading strategies and consistency to achieve their targets. Moreover, at Fidelcrest, traders can get an affordable trading account with the most advanced platform and proficient customer service. Fidelcrest is affiliated with a reliable and regulated broker, so the firm is trustworthy. Fidelcrest also offers multiple rewards and bonuses to its customers, such as an acceleration plan and plan double, which adds value to the overall trading experience.
In contrast, traders cannot use copy trading or EAs during Fidlecrest's evaluation phase. This is a significant disadvantage, especially for new traders who rely on the strategies of other successful traders. Hence, this shows that the company aims to generate maximum profits through competent traders and not provide opportunities to new traders in the market.
Pros
- Partnered with a related broker.
- Low subscription fee.
- Rewards and Bonuses.
- Advanced trading platform MT4, MT5, C Trader.
Cons
- No Copy trading.
- Rigorous evaluation process.
7. The Simulated Trading Capital: The New Innovative Firm
The simulated Trading Capital is a new firm that needs to be better recognized. However, the first thing that stands out is the design of this simulated trading platform. While many prop-simulated trading firms have a poor user experience, this one has a pleasing design and clearly lays out all the information on its website.
In addition, it has set realistic parameters with minimal restrictions. As such, the firm claims to provide traders more freedom, flexibility, and chances of success. The company gives only an 8% profit target during the evaluation process. Traders can use any strategy to reach this target. This includes using expert advisors (EAs), trade copiers, trading through the news, and holding trades over the weekend.
The simulated Trading Capital also allows a 12% maximum drawdown restriction and a 6% maximum daily loss. This gives traders breathing space to execute their strategies and recover from their mistakes. The overall simulated trading objective is laid out in phases. In Phase 1, the virtual profit target is 8%. In Phase 2, it’s 5%. Once you’re promoted to a prop trader, there is no target.
Traders also receive a 120% refund on their first successful virtual profit split. The company started with a 50/50 split in 2019. However, as time went on and the platform became more popular, it decided to reward users with a higher virtual profit rate. So, its virtual profit split is now 85/15. All its simulated trading rules are written on the website. The process appears transparent, and there are no unrealistic expectations.
Pros
- 85% profit split.
- 120% refund available.
- There are several simulated trading options to choose from.
- Many simulated trading parameters are available.
Cons
- The customer service isn’t as solid as a lot of other platforms.
- Trustpilot gives it a low rating.
8. TopStep: The Top Brand In Trading
Topstep is another proprietary firm that holds the position of a top brand in the financial markets. Traders can sign up for a futures trading account on Topstep by agreeing to participate in the Traders Combine funded account program. Traders who pass the trader combine challenge can earn up to $ 300K in real-time funds in their funded futures account. There are many advantages to trading with Topstep, which is why it is also considered the best prop trading firm in the financial market. Countless courses, quizzes, and other coaching programs provide technical assistance to traders.
Moreover, Topstep’s trader communities and forums are also the talk of the town among traders. Tostep is also popular among traders due to its fast and easy payout process and 14-day free trial account. The firm claims to process withdrawal requests within the same day. Moreover, Topstep's profit split ratio is also phenomenal, up to 100%, higher than many other prop firms.
In addition, traders can trade on various trading platforms, such as TS Trader, Trading View, R Trader, and many more. Topstep offers three different account sizes, ranging from $50k to $100k and $150k, with monthly subscription fees of $165, $325, and $375. This is a monthly recurring fee, not a one-time subscription fee like other platforms.
The profit targets of each account are $3,000, $6,000, and $ $9,000, respectively, with a daily drawdown of $1000, $2000, and $3000 and a total drawdown of $2000, $3000, and $4000. The targets are not in percentages but in specific amounts, making it more straightforward for the traders to calculate and set goals.
Advantages
- Free trial account.
- 100% first $ 5000 profit.
- Easy one-step evaluation.
- Funded trading coach.
Disadvantages
- Limited trading instruments.
- There is no customer service on weekends.
9. Apex Trader Funding: The Leading Trader Evaluator
Apex Trader Funding is a top-rated futures funding provider. In my opinion, it is the leading company worldwide for funding evaluations. My research found that it has helped many funded traders worldwide to increase their profits by honing their trading skills.
Pros
24/7 customer support via phone, live chat, and email.
There is no daily drawdown.
Cons
There are limited trading hours.
10. E8 Funding: The Unique Prop Firm
E8 is a unique prop firm that offers various solutions for forex and contract for difference (CFD) traders worldwide. The firm has many funding opportunities that make it easier for traders to become professionals, as they can manage their accounts virtually from anywhere in the world. Its main goal is to give traders easy access to liquidity and funding opportunities through a user-friendly interface. Its account parameters help traders stay focused on a disciplined approach.
It also provides an E8X dashboard application to guide you. Traders who can prove their skills get to manage a $1 million account. The firm was created in 2021 and is located in Dallas, Texas. E8’s mission is to provide unique financing opportunities for anyone to become a professional trader. You can earn up to 80% profit by simulated trading in forex pairs, crypto, commodity indices, and equity.
E8 offers many unique features among prop-simulated trading firms, such as automated payout systems, top-tier technology, and fast account scaling. Overall, the firm is good for traders who want to leverage advanced simulated trading technologies to trade smartly and efficiently.
Pros
- There are no minimum simulated trading days.
- 1:100 leverage available.
- Automated payout system.
- Fast account processing.
- EA supported.
Cons
- Fees are higher compared to other platforms.
- Customer support is lacking.
11. Audacity Capital: The UK-based Prop Firm
Audacity Capital is a UK-based prop firm that has been providing funded accounts to customers globally since 2012. Traders affiliated with this firm can trade forex, indices, and commodities on the MT4 trading platform. Like all other funded trading programs, Audacity Capital also provides funds to experienced and talented traders who earn profits for the company.
However, unlike other firms’ standard evaluation phases, individuals must follow a different selection process to become funded traders. At Audacity Capital, traders must fill out a registration form and apply for a funded account after passing the online or face-to-face interview session. Successful candidates are offered account sizes from $15,000 to $480,000 at a 50% profit split.
The funded trader at Audacity Capital must go through six stages to reach the maximum funds of $480,000. The lot size increases with the capital, starting from 0.5 to 16 at the last level. Moreover, at the initial levels, the trader can only trade forex, but after the third stage, the trader can also include indices and commodities. This prop firm has no time restrictions or minimum trading days requirements.
Advantages
- He funded traders at Audacity Capital and went through six stages to reach the maximum funds of $480, a profit target.
- Multiple educational resources.
- Zero commission.
- Easy payouts.
Disadvantages
- There is no room for inexperienced traders.
- One trading platform is MT4.
12. FX2 Funding: The Trader Friendly Firm
FX2 Funding is an impressive trader program that prioritizes traders’ success. According to my research, its evaluation process is quite straightforward, making it ideal for both beginners and seasoned traders. FX2 Funding bases every decision on traders' goals, ensuring they are always put first.
Pros
- I like that it has no timeline evaluation.
- Actual funded accounts with live market placement.
- The 1-stage evaluation can be helpful for beginners.
Cons
- It has no CFDs.
- Temporary trailing drawdown.
13. Goat Funded Trader: The New Prop Trader Firm
Goat Funded Trader is a top-rated global prop trading firm established in 2023. It offers instant funding and evaluation programs. The firm provides a maximum leverage of 1:50 and up to a 95% profit split, which is excellent for traders seeking favorable conditions.
Pros
- It allows news-based trading.
- I could even trade on holidays.
- Clear and simple trading rules.
Cons
- Evaluation process can be challenging for some traders.
8 Tips To Pass Funded Trading Account Challenges
1. Get Acquainted with the Funded Account Challenge Rules
Before you start trading, get acquainted with the funded account challenge rules. This includes the performance metrics and benchmarks to evaluate your trading performance and any risk management strategies and constraints. Knowing the terms and conditions can help you tailor your trading strategy to meet the requirements and increase your chances of success.
2. Create a Trading Plan
Yes, a trading plan is beneficial. We talked about this in our previous article. We can’t imagine a mission without a plan. A trading plan is essential for success in any trading environment and is crucial in a challenging account. Your trading plan should include your trading strategy, risk management parameters, and a schedule for monitoring and adjusting your trades. By having a clear plan in place, you can stay focused and disciplined, even in choppy markets.
3. Build a Strong Trading Foundation
You must have a substantial trading foundation to pass a challenge account quickly. This includes developing a deep understanding of technical and fundamental analysis, practicing chart analysis and pattern recognition, and using multiple time frames and indicators to confirm trading signals. By building a solid trading foundation, you can make more informed trading decisions and increase your chances of success.
4. Demonstrate Consistency and Patience
Consistency and patience are the keys to success in a funded account challenge. Rather than aiming for big wins, focus on making consistent profits over time. Be patient and disciplined in trading, avoiding impulsive decisions that can lead to losses. If you’re focused and adaptable, you can navigate volatile markets and achieve your trading goals.
5. Manage Your Risk Effectively
Managing your risk is essential for success in any trading environment and in a challenging account. Use stop-loss orders and position sizing to manage your risk, monitor your exposure, and adjust your positions. By keeping your emotions in check and avoiding over-trading, you can minimize your losses and maximize your profits.
6. Leverage Advanced Technologies and Tools
Advanced technologies and tools can be a game-changer for traders in a challenge account. Utilize advanced technical indicators and charting tools to improve your analysis, and use expert advisors to execute your trades. Leveraging these tools, you can gain a competitive edge and increase your chances of success.
7. Stay Up-to-Date with Market Developments
Staying up-to-date with market developments is essential for success in any trading environment. Follow market news and events that affect your trades, and stay informed about global economic trends and policies. Staying up-to-date, you can adjust your strategy and optimize your performance.
8. Be Willing to Learn and Improve
Finally, be willing to learn and improve your trading skills and knowledge. Continuously learn from your experiences, seek feedback and guidance from experienced traders and mentors. Be open-minded to new strategies and techniques. By being willing to learn and improve, you can refine your trading strategy and increase your chances of securing a funded account.
Get started with AquaFunded's funded trading program today!
Join Our Funded Trading Program Today - Trade with our Capital and Keep 90% of the Profit
AquaFunded is a Dubai-based funded trading program that allows traders to access large capital accounts and earn up to 95% profit splits. The company provides a unique funding model with easy-to-achieve 8% profit targets and fast bi-weekly payouts, with an option for first payout in just 7 days.
AquaFunded caters to traders of all experience levels, from beginners to those with a few years of experience, who want to trade with reduced risk using the firm's capital instead of their own. With its competitive features and UAE-based operations, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits.
Get started with AquaFunded's funded trading program today!
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