The Funded Trader
Read plan by plan, and what survives the reading is mostly the shape of what is missing. The binding Terms of Use — dated "Last updated: January 2025." and read whole — fix no loss limit, no profit target and no payout figure; they hand all of it to a FAQ "as amended from time to time and which are incorporated by reference", and that FAQ lives on a help host whose eight articles all answered with a bot check. The one payout condition the firm does publish is its own and it is discretionary: Funded Traders "are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful." Its "Funding Process" page, linked from the menu and the footer of every page, returns HTTP 200 with the words "This page could not be found."
What a buyer can actually see before paying: five products (Royal, Royal Pro, Knight, Knight Pro, Dragon), no time limit on any phase (its own table answers "Maximum Trading Days" with "Unlimited" in all four columns), 1:100 FOREX leverage on evaluation accounts only — every other level is "subject to the sole determination and judgment of the Company" — and a Knight first payout "in as little as 7 days". The two split figures on the site are both ceilings hung on a VIP program whose requirements are published nowhere. The entry fee comes back only as a bonus "with your third withdrawal", there is no refund once the credentials email is sent, and a chargeback is a permanent ban. Separately, and from third-party accounts rather than from the firm: it paused all operations in March 2024 amid mass payout-denial complaints, later relocated to the Cayman Islands and partially recovered, and a copycat domain (funded-trader.net) is on the FCA Warning List — not the real firm, but a scam risk trading on the name.
Not enough published data to simulate this firm’s floor.
We read this firm plan by plan, and its numbers are published — they live in the derived evidence on its card, not in the five-axis sieve the tiers are ranked on. The grade here is the evidence itself: three answers and a payment-promise score, each computed from the firm’s own documents with a citation behind every input. What it does not have is the hand-written scorecard a tier requires.
Graded from the evidence
Can you even pass?
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Can you keep the money?
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Is anyone behind it?
2/5
What they published
“The trading data is collected with the intention of monetizing it, and in exchange Funded Traders are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful.”“The Funded Trader’s FAQ, and all rules and conditions therein, as amended from time to time and which are incorporated by reference and made a part of these Terms.”“This page could not be found. It might have been removed or renamed, or it may never have existed.”“After you have successfully completed the Challenge phases and proceeded to the Funded phase you will receive a bonus equivalent to your initial sign-up fee with your third withdrawal.”Plan by plan
5 of this firm’s challenges were read plan by plan, with a citation behind every answer. See them side by side →
Two phases, a minimum of 5 trading days across both, no lot-size limit and weekend holding allowed — it is the only challenge that allows it. The floor is unread rather than denied: the contract fixes no loss limit and the parameter table did not render.
Sold on "quick rewards" and support for news and crypto trading, and its card names no phase count and no parameter. The ceiling it does give is $600K in funded accounts; Knight Pro’s card says $2,500,000.
One phase, and the only plan with a published first-payout period. Read the hedge in the firm’s own sentence: "can be eligible" and "in as little as".
The plan the firm advertises hardest: "anytime payouts", up to $2,500,000 in funded allocation, and the only sentence on the site describing how the floor is measured — "balance-based daily drawdown", with no percentage anywhere to attach it to.
Three phases, and the firm says outright what the third is for: "an additional phase of the challenge in order to provide a more affordable evaluation fee". Its card names no target, no limit, no split and no payout period.
Trustpilot
What this firm published
Everything below is quoted from a page we opened, on the date shown. The quotes are in the firm’s own language, exactly as published — never edited, never shortened, never swapped for a translation. On the Spanish edition our own rendering appears underneath each one, unquoted and marked as ours: the quotation marks on this site mean the words are the firm’s, and nothing we wrote ever wears them. Where we have not read enough to put a number on an axis, we say so instead of guessing.
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Can you even pass?
Almost nobody who pays for an evaluation ever reaches a funded account, so this is the part of the product most customers actually buy. Every firm advertises its profit target; none of them advertises that target next to how much you are allowed to lose while chasing it.
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Can you keep the money?
The drawdown takes the account away; the payout rules take the money. Answered by whichever of the two we can measure and is worse — they are two ways of losing the same thing, so a good half cannot pay for a bad one.
2/5
Is anyone behind it?
A named company, a market, and rules you could read before paying. These three do not substitute for one another — a company you can sue does not stop existing because the account is a simulation — so this is the average of the ones we could measure, not the worst.
How hard the test is
we did not read enough to sayNot the profit target on the sales page — that target measured against the room you are given to reach it.
Days you have to finishThey state there is none.no change3/3
“Maximum Trading Days Unlimited Unlimited Unlimited Unlimited”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in5 dayswe did not read this stage1.60/2
“With the Royal Challenge, there are no lot size limitations, and you only need to complete a minimum of 5 trading days to complete the objectives for both phases.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
How much you must win to survive · Profit target · A second attempt costs
Maximum loss
we did not read enough to sayThe loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
What makes the loss limit rise · What the limit is measured against · Where the limit stops rising · What taking a payout does to the limit · Total loss allowed · Daily limit
Withdrawing
we did not read enough to sayHow much can leave the account, how soon, how often — and whether they can say no.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The trading data is collected with the intention of monetizing it, and in exchange Funded Traders are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for moneyThey do not say.0/2
we read the page that should answer this and it does not
How long your money is theirs.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
Most one withdrawal can pay you · Does that cap rise with the account · Withdrawals before the account ends · What else a payout changes · What breaking the consistency rule costs · Profit required before the first request · Fee charged to pay you
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Forced close before the weekendThey state there is none.no changewe did not read this stage—
“Similar to the two step evaluation process like our Standard and Rapid Challenge, the main advantage with this program is that it is the only challenge that allows you to use EAs and hold trades over the weekend.”Leverage1:100by instrument
no changeThey do not say.—
by instrument
“Evaluation accounts provided by the Company are demo accounts only, are not live actual trading and are subject to 1:100 FOREX leverage.”we read the page that should answer this and it does not
Limit on position sizeThey state there is none.no changewe did not read this stage—
“With the Royal Challenge, there are no lot size limitations, and you only need to complete a minimum of 5 trading days to complete the objectives for both phases.”No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
How large it can get$600,000—
“Members of The Funded Trader are able to have a maximum of 1.2M in active challenge accounts virtual starting balance and a maximum of 600k in active Funded accounts virtual starting balance.”Where the path endsat a larger simulation—
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
we did not read enough to sayNot the profit target on the sales page — that target measured against the room you are given to reach it.
Days you have to finishThey state there is none.3/3
“Maximum Trading Days Unlimited Unlimited Unlimited Unlimited”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
How much you must win to survive · Profit target · Trading days you must put in · A second attempt costs
Maximum loss
we did not read enough to sayThe loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
What makes the loss limit rise · What the limit is measured against · Where the limit stops rising · What taking a payout does to the limit · Total loss allowed · Daily limit
Withdrawing
we did not read enough to sayHow much can leave the account, how soon, how often — and whether they can say no.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The trading data is collected with the intention of monetizing it, and in exchange Funded Traders are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for moneyThey do not say.0/2
we read the page that should answer this and it does not
How long your money is theirs.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
Most one withdrawal can pay you · Does that cap rise with the account · Withdrawals before the account ends · What else a payout changes · What breaking the consistency rule costs · Profit required before the first request · Fee charged to pay you
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Leverage1:100by instrument
They do not say.—
by instrument
“Evaluation accounts provided by the Company are demo accounts only, are not live actual trading and are subject to 1:100 FOREX leverage.”we read the page that should answer this and it does not
No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
How large it can get$600,000—
“With scaling opportunities up to $1.2M in challenge funds and $600K in funded accounts , plus a VIP program with a 95% reward split, it’s perfect for traders seeking to maximize profits and long-term success.”Where the path endsat a larger simulation—
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
we did not read enough to sayNot the profit target on the sales page — that target measured against the room you are given to reach it.
Days you have to finishThey state there is none.3/3
“Maximum Trading Days Unlimited Unlimited Unlimited Unlimited”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
How much you must win to survive · Profit target · Trading days you must put in · A second attempt costs
Maximum loss
we did not read enough to sayThe loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
What makes the loss limit rise · What the limit is measured against · Where the limit stops rising · What taking a payout does to the limit · Total loss allowed · Daily limit
Withdrawing
we did not read enough to sayHow much can leave the account, how soon, how often — and whether they can say no.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The trading data is collected with the intention of monetizing it, and in exchange Funded Traders are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money7 days2/2
“You can be eligible to get your first payout in as little as 7 days after acquiring the Funded account.”How long your money is theirs.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
Most one withdrawal can pay you · Does that cap rise with the account · Withdrawals before the account ends · What else a payout changes · What breaking the consistency rule costs · Profit required before the first request · Fee charged to pay you
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Leverage1:100by instrument
They do not say.—
by instrument
“Evaluation accounts provided by the Company are demo accounts only, are not live actual trading and are subject to 1:100 FOREX leverage.”we read the page that should answer this and it does not
No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
How large it can get$600,000—
“Members of The Funded Trader are able to have a maximum of 1.2M in active challenge accounts virtual starting balance and a maximum of 600k in active Funded accounts virtual starting balance.”Where the path endsat a larger simulation—
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
we did not read enough to sayNot the profit target on the sales page — that target measured against the room you are given to reach it.
Days you have to finishThey state there is none.3/3
“Maximum Trading Days Unlimited Unlimited Unlimited Unlimited”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
How much you must win to survive · Profit target · Trading days you must put in · A second attempt costs
Maximum loss
we did not read enough to sayThe loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
What makes the loss limit rise · What the limit is measured against · Where the limit stops rising · What taking a payout does to the limit · Total loss allowed · Daily limit
Withdrawing
we did not read enough to sayHow much can leave the account, how soon, how often — and whether they can say no.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The trading data is collected with the intention of monetizing it, and in exchange Funded Traders are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for moneyThey state there is none.2/2
“With features like anytime payouts, up to $2,500,000 in funded allocation , and a VIP program offering up to 95% payout split , this challenge sets a new standard in flexibility and profitability.”How long your money is theirs.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
Most one withdrawal can pay you · Does that cap rise with the account · Withdrawals before the account ends · What else a payout changes · What breaking the consistency rule costs · Profit required before the first request · Fee charged to pay you
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Leverage1:100by instrument
They do not say.—
by instrument
“Evaluation accounts provided by the Company are demo accounts only, are not live actual trading and are subject to 1:100 FOREX leverage.”we read the page that should answer this and it does not
No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
How large it can get$2,500,000—
“With features like anytime payouts, up to $2,500,000 in funded allocation , and a VIP program offering up to 95% payout split , this challenge sets a new standard in flexibility and profitability.”Where the path endsat a larger simulation—
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
we did not read enough to sayNot the profit target on the sales page — that target measured against the room you are given to reach it.
Days you have to finishThey state there is none.no changeno change3/3
“Maximum Trading Days Unlimited Unlimited Unlimited Unlimited”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
How much you must win to survive · Profit target · Trading days you must put in · A second attempt costs
Maximum loss
we did not read enough to sayThe loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
What makes the loss limit rise · What the limit is measured against · Where the limit stops rising · What taking a payout does to the limit · Total loss allowed · Daily limit
Withdrawing
we did not read enough to sayHow much can leave the account, how soon, how often — and whether they can say no.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The trading data is collected with the intention of monetizing it, and in exchange Funded Traders are remunerated based on virtual profits they generate on the platform, provided their trading data proves to be useful.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for moneyThey do not say.0/2
we read the page that should answer this and it does not
How long your money is theirs.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
Most one withdrawal can pay you · Does that cap rise with the account · Withdrawals before the account ends · What else a payout changes · What breaking the consistency rule costs · Profit required before the first request · Fee charged to pay you
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Leverage1:100by instrument
no changeno changeThey do not say.—
by instrument
“Evaluation accounts provided by the Company are demo accounts only, are not live actual trading and are subject to 1:100 FOREX leverage.”we read the page that should answer this and it does not
No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
How large it can get$600,000—
“Members of The Funded Trader are able to have a maximum of 1.2M in active challenge accounts virtual starting balance and a maximum of 600k in active Funded accounts virtual starting balance.”Where the path endsat a larger simulation—
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
The rules in writing
Could you read the rule before paying, and can they change it afterwards?
Where the rule that binds you is publishedin a help-centre article the contract never mentions1.20/4
“The Funded Trader’s FAQ, and all rules and conditions therein, as amended from time to time and which are incorporated by reference and made a part of these Terms.”If the rule that binds you lives in a help article your contract never mentions, you did not sign it.
Can it change the rules without noticeyes, and it says so0.60/3
“The Company reserves the right, in its sole discretion, to change the Terms under which this Site is offered. The most current version of the Terms supersede all previous versions.”The clause that makes every dated verdict perishable, including ours. Near-universal, so not fatal.
Is the binding document datedyes2/2
“Last updated: January 2025.”Without a date you cannot tell whether the rule you read is the rule they apply.
We compared their own pages against each other and found nothing that contradicts.
The company behind it
If it goes wrong, which company do you claim against, and under whose laws?
The company you contract withThe Funded Trader LLCno change4/4
“The thefundedtraderprogram.com website (the “Site”) and all services and interactions with The Funded Trader LLC (the “Company”, “we” or “us”) are comprised of various web pages operated by the Company.”With no named company there is nobody to sue.
Where it is registeredState of Floridano change1/2
“This Agreement and the rights of the parties hereunder shall be governed by and construed in accordance with the laws of the State of Florida, exclusive of conflict or choice of law rules.”A claim in the Czech Republic and a claim in St Vincent are not the same claim.
Its registration numberwe did not read this stageThey do not say.0/2
we read the page that should answer this and it does not
What turns a name into something checkable in a public register.
That company owns the brandThey do not say.0/2
we read the page that should answer this and it does not
Signing with a company other than the brand’s owner separates who sold to you from who answers to you.
The people behind it are namedThey do not say.0/2
we read the page that should answer this and it does not
Named people can be looked up. A company on its own cannot always be.
Almost no firm here has a financial regulator, because selling simulated evaluations is not a regulated activity anywhere. Of the 114 firms we scored by hand, 96 sat in the bottom two rungs of backing for this reason. So we do not count it against anyone — it only adds when a firm genuinely has one.
The market
Do your orders reach a market, or is all of it a simulation?
What the funded account issimulated, with no route to real capital0/4
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”The question that separates a firm that earns when you lose from one that earns when you last.
Conditions to reach a real marketNo such thing in this plan.—
“The Funded Trader funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.”Promising a route to a real market without publishing the conditions is promising nothing.
Almost none names a broker or a clearing house either, and that follows from the account being a simulation rather than being a second, separate failing. Charging for both would count one fact twice.
We read the rules of every plan it sells and issued a verdict on each one.