The Funded Trader Program: A Review
The Funded Trader Program (FTP) offers funding to traders who successfully complete a two-step evaluation process. The first step is a written test covering forex trading basics, risk management, and trading psychology. The second step is a live trading audition, where traders must trade a live account for at least 10 days.
Benefits of the funded trader program:
the funded trader program offers several benefits to traders, including:
- Rapid funding: Traders can receive funding of up to $100,000 in just 14 days.
- Open to all experience levels: FTP is available to traders of all experience levels.
- Proven success rate: Over 80% of funded traders through FTP have been profitable.
- Professional support: FTP provides professional support to all of its funded traders.
Drawbacks of the funded trader program:
There are a few drawbacks to using FTP, including:
- High cost: The FTP program costs $499.
- Rigorous evaluation process: The FTP evaluation process is rigorous and can be difficult to pass.
- No guarantee of success: Even if traders pass the evaluation process, there is no guarantee that they will be profitable as funded traders.
Is the funded trader program Worth It?
Whether or not FTP is worth it depends on the individual trader’s circumstances. Experienced traders with a proven track record of success who are willing to pay the $499 fee may find FTP to be a good option. However, newer traders or those without a lot of experience may want to consider other options.
Alternatives to the funded trader program:
Several other forex trading programs offer funding to traders. Some of these programs are less expensive than FTP, and some have less rigorous evaluation processes. Here are a few alternatives to FTP:
- FTMO: FTMO offers funding to traders of all experience levels. The FTMO evaluation process is less rigorous than FTP’s, and the program’s cost is lower.
- The5%ers: The5%ers offers funding to traders with a proven track record of success. The5%ers evaluation process is more rigorous than FTP’s, but the program’s cost is lower.
- MyForexFunds: MyForexFunds offers funding to traders of all experience levels. The MyForexFunds evaluation process is less rigorous than FTP’s, and the program’s cost is lower.
The Funded Trader Program provides funding to traders who pass a rigorous evaluation process. The program is designed for experienced traders with a proven track record of success. If you are an experienced trader willing to pay the $499 fee, FTP may be a good option for you. However, if you are a new trader or do not have much experience, you may want to consider other options.