Waka Funding, a proprietary trading firm, has been making waves in the trading sector with its unique approach and competitive benefits. Despite the limited public information, the firm has received positive feedback for its swift payment processes and efficient customer service.
Traders in search of a straightforward evaluation process and various trading instruments may find Waka Funding to be a fitting choice.
Join now and take on the Waka Funding challenge!
Waka Funding Discounts and Offers
At the time of writing, no promotional codes were available on their website. For the latest promotions and discounts, please visit the official Waka Funding site or contact their customer support.
About Waka Funding Prop Firm
Waka Funding is celebrated for its commitment to offering traders a solid platform and favorable trading conditions. Although detailed information about the company’s operations and history is limited, several key aspects distinguish it from other prop firms.
Company Name
The official name of the firm is Waka Funding.
Address Information
The company has not disclosed its address details publicly.
Founding Year
The year of establishment for Waka Funding is not available.
Registration Details
Waka Funding is registered in the United Kingdom.
Ownership Information
Information about the ownership of Waka Funding is not accessible from their website.
Available Trading Platforms
Information about the trading platforms offered by Waka Funding is not currently available or disclosed on their website.
Range of Trading Instruments
Waka Funding provides a diverse selection of trading instruments, including:
- Forex
- Commodities
- Indices
- Metals
- Crypto
Payment Methods Accepted
The following payment methods are supported by Waka Funding:
- Bank Transfer
- Cryptocurrency
Account Size Selections
Waka Funding offers a variety of account sizes to meet different trader needs:
- $25,000
- $50,000
- $100,000
- $200,000
Profit Split Details
Waka Funding has a tiered profit split system that becomes more favorable with time:
- Starting profit split: 50%
- Bi-weekly increments, reaching up to 80%
Profit Target for Evaluation
The profit target set for the evaluation process at Waka Funding is 10%.
Max Daily/Total Loss and Drawdown Rules at Waka Funding Prop Firm
To safeguard trading activities, Waka Funding has set definitive risk limits:
- Daily Loss Limit: 4%
- Cumulative Loss Limit: 8%
Maximum/Minimum Trading Days Policy at Waka Funding Prop Firm
Waka Funding offers considerable flexibility regarding the number of trading days:
- Minimum Required Days: None
- Unlimited Maximum Days: Permitted
Available Step Challenges at Waka Funding
The structure of Waka Funding’s trading challenges is straightforward:
- Type of Challenge: Single Evaluation Step
- Profit Goal: 10%
- Drawdown Limits: Generally includes 4% daily and 8% total.
Challenge Participation Fees
Fees for participating in challenges vary by the account size:
- $25,000 Account: $275
- $50,000 Account: $375
- $100,000 Account: $575
- $200,000 Account: $975
Fee Structure and Commissions at Waka Funding
Waka Funding has established a straightforward fee structure, where a $7 commission is levied per traded lot. This fee supports the high-quality services offered by the firm. For those trading in instruments other than lots, the firm charges no additional commissions beyond the market spread, ensuring transparency and simplicity in its fee structure.
Firm’s Refund Policy
It is important for traders to understand that all fees paid to Waka Funding are final and non-refundable. This policy is designed to ensure that both the traders and the firm approach the trading activities with a definitive commitment.
Current Status of Trial Offers at Waka Funding
As of now, Waka Funding does not provide any free trial options for its trading platforms. This approach is intended to encourage traders to fully commit to their trading strategies from the beginning.
Payout Procedures at Waka Funding
Waka Funding’s payout procedures are designed to support traders in accessing their profits efficiently. The firm allows for a first withdrawal after the initial 10 trading days, followed by the opportunity for traders to make withdrawals every 5 trading days, facilitating continuous access to funds.
Waka Funding FAQ Section
Yes, hedging is allowed. However, using multiple accounts to hedge against each other is considered a rule violation, including hedging between clients. Hedging within a single account to protect a position is entirely permissible. It is not permitted to hedge two different accounts or individuals by taking opposite positions in each to circumvent the rules.
Yes, news trading is currently allowed.
For Waka Funding Challenge/Evaluation accounts, the leverage is set at 1:100. Real accounts have a leverage of 1:30, reflecting what institutional traders typically access.
With Eightcap, the commission is $7 per lot on currency pairs. Partial lots incur a proportional commission. Indices, commodities, and other instruments only incur market spreads with no additional commissions.
The 33% Consistency Rule ensures that no single transaction exceeds 33% of the requested profit during withdrawal, promoting sound risk management and avoiding excessive risk-taking, especially before significant news events.
Implementation at the Funding Stage:
This rule is enforced during the funding stage, using volume bands for consistent risk management.
For instance, if a trader’s average lot size is 3 lots per trade over a month, a 10-lot trade before payday would exceed the rule by surpassing 200% of the average volume. Similarly, trades 75% smaller than the average would also be excluded.
Formula: Average Lot Size: Total lots traded / Total transactions
Upper Limit: Average lot size x 2
Lower Limit: Average lot size x 0.25
Transactions are aggregated within a 30-second window to maintain volume and profit consistency.
Outcome:
Transactions outside the range are excluded, but the account remains active, with compliant transactions processed normally.
This rule aims to balance competitiveness with sustainability and market presence.
Although some traders may find this rule restrictive, it promotes better trading habits and adherence to planned strategies.
