FundedPrime Review 2024 – What makes this prop firm reliable?
About FundedPrime
FundedPrime is a growing prop trading firm offering skilled traders the ability to trade simulated funded capital up to $600,000. It addresses both Forex and stock traders via two different challenge types.
Additionally, as we are about to see in our FundedPrime review 2024, the company does have competitive pricing compared to other prop firms in the market. Moreover, backed by advanced platforms with cutting-edge technology, traders have access to modern tools that help them when faced with difficult decisions.
Challenges
Those of you who already know what prop trading is are aware that most firms employ a tiered approach when it comes to challenges. FundedPrime follows this script and allows you to choose between Prime Traders and Stock Traders evaluation.
Prime Traders is a two-step evaluation method, with a 10% target in the first stage and a 5% target in the second stage. Traders who sign up need to have a minimum of 5 trading days, a maximum of 5% daily loss, and less than 10% total loss. Max leverage is 1:50 in both stages and once you qualify for a funded account, you will be eligible for up to 80% profit split.
The Stock Traders evaluation is a one-step process during which you need at least 3 trading days and an 8% profit target. Daily and total drawdowns, as well as the profit split threshold are the same.
Platforms
FundedPrime allows its traders to use advanced platforms, but there are some differences, depending on what evaluation type you choose. Those who go for the Prime Traders evaluation can choose between DXtrade and TradeLocker. Both platforms carry modern trading tools and can be accessed via multiple devices.
If you choose the Stock Traders evaluation, the only platform available is TradeLocker. No need to worry, though, because it is compatible even with mobile devices. You can download an Android or iOS app, depending on your smartphone or tablet.
Trading Benefits
Traders can choose between accounts of different sizes, including 10k, 25k, 50k, 100k and 250k. These solutions apply to both evaluation types. Pricing is another important benefit since the lowest accounts are available in exchange for a one-time $65 fee.
To ensure industry-leading spreads and commissions, FundedPrime partnered with Eightcap, a popular online brokerage. You can trade with EAs and algos using any type of strategy, except some that are currently prohibited (HFT, hedge arbitrage trading, tick scalping, grid trading, martingale, copy trading, and others).
Some traders might also want to know when they can withdraw funds. FundedPrime allows the first payout after at least 30 days of trading. After that, you can request payouts on a bi-weekly basis.
Customer support is available via email or live chat, so if you have further questions about their services, you can reach out to an agent. FundedPrime offers excellent support, with agents worldwide available to assist clients.
Bottom Line
Wrapping up our FundedPrime review 2024, this prop firm does stand out when it comes to timely payouts for traders who meet the criteria and adhere to the assessment schedule. Also, it offers a modern dashboard you can use to monitor your trading activity like a professional.
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