FundedX Review

FundedX is a proprietary trading firm that provides trading capital to traders who successfully pass a two-step evaluation process. The company offers a unique opportunity to capital scaling starting at $5,000 and potentially going up to $5 million. With a focus on raw spreads and a user-friendly platform, FundedX tires  both new and experienced traders with access to significant funds while also maintaining a fair profit-sharing model.

In order to become a funded trader with FundedX, you need to pass an evaluation process and prove you are able to manage the funds provided by the company. 

Overview of FundedX Prop Firm

FundedX is a prop trading firm that offers trading capital to traders who pass their two-step evaluation process. FundedX lets you trade up to $1 million, with scale capital of $5 million. 

Unique Features of FundedX

FundedX sets itself apart from other prop firms by offering a fair profit-sharing model. When you become a funded trader, you can expect:

• Capital scaling: starting from $5,000 to $1 million, you can scale up to $5 million.
• Support: you can get personalized support and a dedicated account manager.
• Access to different markets: Trade in various markets: including Forex, stocks, and cryptocurrencies.

Comparison to Other Prop Firms

FundedX is often compared to other well-known prop trading firms such as Elite Trader Funding and Fidelcrest. They all provide funded accounts to talented traders who prove their skills during a challenge. The amount of trading capital offered, profit-sharing models, and trading conditions vary among prop firms.

Getting Started With FundedX

If you want to become a funded trader, you can start by participating in the FundedX challenge. Once you pass the evaluation, you’ll have the opportunity to trade with capital ranging from $5,000 up to $1 million, and even scale up to $5 million.

To get started with FundedX, you will need to complete their evaluation process. If you succeed, you will get access to trading capital, comprehensive support, and opportunities to grow as a trader.

Here are 5 easy steps on how to start:

1. Evaluation Process: Complete the 2-step challenge to prove your trading abilities.
2. Funded Trading: Trade by using the capital of $5,000 up to $1 million, and scale up to $5 million.
3. Profit Sharing: Benefit from a fair profit-sharing model that is based on your trading performance.
4. Raw Spreads: Enjoy competitive spreads that allow you to get better trade execution and maximize your profits.
5. Easy-to-Use Platform: Use modern technology and accessible trading platform.

FundedX Funding Options

Once you become a funded trader, you can scale your capital, starting at $5,000, and potentially go as high as $5 million through their scaling plan.

Funding Tiers: FundedX offers three main funding tiers for traders, which include Basic, Pro, and Elite. These tiers come with different levels of leverage:

• Basic: 1:20
• Pro: 1:50
• Elite: 1:100

Depending on your trading experience and requirements, you can choose the funding tier that suits your needs the best.

Trading Instruments: With FundedX, you have the opportunity to trade various instruments such as Forex, Commodities, Stocks, Futures, and Options. Having a diverse set of instruments is beneficial, as you can easily switch between different markets, depending on the market conditions and your trading style.

Generous Profit Share: FundedX offers traders a profit share of up to 80%-90%, which incentivizes trading success and provides an opportunity for you to maximize your earnings.

Account Types and Trading Requirements

FundedX offers a wide range of account sizes ranging from $5,000 to $1,000,000. Each account type comes with its own pricing and trading requirements. Let’s dive into the most important aspects of these different account types.

The pricing for various account options goes as follows:

Account Size	Price
5K	$69.00
10K	$129.00
25K	$199.00
50K	$299.00
100K	$529.00
200K	$989.00
500K	$2,500.00
$1.0M	$5,000.00

Here are the trading requirements for each account size:

1. Trading Period: All account sizes offer unlimited trading days.
2. Minimum Trading Days: Regardless of account size, a minimum of 3 trading days is required.
3. Phase 1 Target: You need to achieve 8% profit within this phase and the target varies for each account size.
4. Phase 2 Target: In the second phase, a 5% profit target is set for each account size.
5. Maximum Loss: It is limited to 10% of the initial account size.
6. Maximum Daily Loss: No more than 5% of the account size should be lost in a single day.

For all FundedX account types,80-90% of the profit from your trades is yours to keep.

Let’s look at an example to make this clear. For a $25,000 account, you’d pay $199.00 to join. Your Phase 1 target would be to make a profit of $2,000 (8%), and the Phase 2 target is $1,250 (5%). You should not have a daily loss exceeding $1,250 (5%), and your maximum overall loss should not exceed $2,500 (10%). All while trading for a minimum of 3 days.

FundedX Challenge Rules

To access the capital, you need to successfully complete the Evaluation Challenge, which consists of two phases.

Phase 1: Profit Target

In this phase, your primary objective is to achieve a specific profit target. The profit target depends on the funding level you select. This means that each account has slightly different rules. To better understand the challenge rules for each account, make sure to check the relevant details included with your selected account level.

Phase 2: Consistency

After achieving the profit target in Phase 1, you’ll move on to Phase 2, focusing on maintaining consistent trading performance. This step is designed to ensure traders exhibit a sustainable trading strategy.

Throughout both phases, there are certain guidelines and restrictions you must follow:

• Maximum Daily Drawdown: You’re allowed to lose a maximum of 5% of your initial account balance on any given day. This rule helps to minimize risk and promote responsible trading.
• Account Growth: It’s important to remember that at the end of the Evaluation Challenge, you must achieve a minimum of 5% growth on the funded account to receive the profit split offered by FundedX.
• Time Limit: The time you have to complete both phases of the Evaluation Challenge varies from account to account. Be sure to keep track of the allotted time to ensure you’re able to complete the challenge within the specified period.

By carefully following the rules and maintaining a steady trading strategy, you’ll increase your chances of successfully completing the challenge and becoming a FundedX trader.

Profit Split 80%-90% : 10%-20%

At FundedX, you can expect a favorable profit split that ranges from 80% to 90% in your favor, depending on your account type and performance. In contrast, FundedX will have a share in the profits of 10% to 20%. This model is quite competitive and highlights the company mission to reward successful traders.

An interesting aspect of the FundedX profit-sharing model is their payout during the challenge phase, which allows you to keep 15% of your profits. This unique feature incentivizes you to perform well, even when you’re still being evaluated.

Here’s a simple breakdown of the profit-sharing structure at FundedX:

• Trader’s Share: 80% to 90%
• Company’s Share: 10% to 20%
• Profit-Sharing During Challenge Phase: 15%

By understanding this system, you can use it to your advantage and maximize your earnings.

Tradable Assets

FundedX has tradable assets across multiple markets. Here’s a sample of the assets you can trade:

1. Forex pairs: Forex pairs come with a leverage of 100:1 which extends to 200:1 during evaluations.
2. Commodities: With FundedX, commodities (gold, silver, oil) trading comes with a 40:1 leverage.
3. Indices: FundedX provides several major indices to choose from, such as S&P 500 and NASDAQ. Trading indices with FundedX allows for a 20:1 leverage.
4. Cryptocurrencies: FundedX also offers cryptocurrency trading, including popular options like Bitcoin and Ethereum. With a leverage of 2:1.

Trading comes with risks, and having a clear understanding of the market dynamics and the assets is essential for success.

Is FundedX a Scam?

You will find both positive and negative reviews of FundedX online, making it hard to form a definitive conclusion. The company holds a moderate-to-low level of authority on Scam Detector, which indicates potential suspicions. 

Their average rating on Trustpilot is 3.7 stars, suggesting that some traders have found their services very useful.

When considering any trading platform, always:

• Research the company’s background and reputation.
• Pay attention to the fine print and terms of service.
• Verify claims made by the company.

In the case of FundedX, some users have praised its transparent rules and guidelines and have successfully passed the evaluation process for larger funds. On the other hand, others had concerns about the company’s credibility and effectiveness.

What are the benefits of being a Funded Trader?

As a funded trader with FundedX, you will experience several key advantages that can help improve your trading career. These benefits are designed to provide you with the tools and support needed to maximize your success in the market.

First, being a funded trader with FundedX means you can trade without risking your own capital. This eliminates the possibility of losing personal funds, while still having access to a substantial account balance. You’ll have the opportunity to demonstrate your trading skills and make profits with minimal risks.

Second, professional growth is a significant advantage for funded traders. You’ll have access to expert mentorship, training materials, and a supportive trading community. Sharpening your skills and learning from other successful traders can greatly enhance your trading techniques and strategies.

FundedX offers attractive profit splits to their traders. For example, a typical profit split with FundedX could be 90/10, where you retain 90% of the profits and the prop firm takes only 10%. This allows you to capitalize on your hard work and dedication, giving you a substantial portion of the earnings you generate.

Here is a summary of the benefits:

• Trade without risking personal capital
• Professional growth and mentorship
• Attractive profit splits (e.g., 90/10)

As a funded trader, you will have flexibility in your trading style and decisions. This means that you can trade at your own pace, without the pressures of meeting constant deadlines or fixed working hours. You’ll also have access to a range of different trading instruments.

Last, funded traders with FundedX benefit from various withdrawal options to access their profits. These options may include Deel, Coinbase, PayPal, Payoneer, Revolut, and Wise, providing you with a convenient and simple way to manage earnings.

Real User Experiences

Experiences vary. Some users have reported having positive experiences with FundedX, describing a smooth evaluation process and good profit-sharing terms. Traders appreciate the balance based drawdown and raw spreads that the platform offers.

A few sources report that the site holds a moderate-to-low level of authority. This might indicate a risk for potential fraudulent activities, though there is no strong evidence for this claim. It’s essential to weigh both the positive and negative aspects of user experiences and perform your due diligence before making a decision.

To summarize, here are some key points about FundedX based on available sources and real user experiences:

• Unique scaling plan, starting from $5,000 to $1 million
• Two-stage challenge evaluation process
• Balance based drawdown
• Raw spreads
• Both positive and negative user experiences
• Moderate-to-low level of authority and credibility

In conclusion, it’s up to you, as a trader, to assess the pros and cons and decide if FundedX’s evaluation process and potential capital growth align with your trading goals. As always, thoroughly research and consider various user experiences before committing any of your own resources.

Support

FundedX provides 24/7 support to its clients, ensuring that you always have access to assistance no matter when you need it. During the standard work week, from Monday to Friday, 8am-5pm EST, their support team is available to help you promptly.

If you come across any issues or have questions, feel free to contact them via email at [email protected]. They are dedicated to providing you with a prompt response and assisting you with your concerns.

FundedX offers a live chat option, making it easier for you to get instant feedback and support. You can also join their Discord group by following this link: https://discord.gg/TcJRKAakPr. This online community is a great resource where you can connect with other traders and discuss your experiences.

Final Thoughts

Based on the information gathered, FundedX appears to have a user-centric approach, with a focus on helping traders succeed in the long run. However, it is crucial to weigh the pros and cons before making a decision:

With these points in mind, FundedX can be a good choice if you are an experienced or intermediate trader looking for funded trading opportunities. However, they might not be the best fit if you are a beginner or seeking more educational resources.

As always, do your research and only invest what you can afford to lose. Success in trading requires time, dedication, and a strong educational foundation. Whatever decision you make, approach it with confidence and clarity.