The Funded Trader alternative and comparison, that’s what we’ll be covering in this video.
So you’ll see up the top here, we have the prop firm and challenge type. We’re comparing the Traders With Edge Turtle, the Traders With Edge Hare account, the Funded Trader Standard account, and the Funded Trader Rapid account. You’ll see they’re all a 100k account. The max account size, after scaling, is $3 million on both the Traders With Edge accounts, and $1.5 million on the Funded Trader accounts. You’ll notice that the Traders With Edge accounts both have rapid scaling available. If you want to find out more about how the rapid scaling works, go up to the challenges, click on the scaling plans tab, and you’ll see a page like this, that shows both scaling plans we have available, the organic and the rapid scaling. It explains how they both work. There are some examples written out here. You can see graphs of the difference, of how much bigger the account can grow with the rapid scaling account. And then finally, down the bottom, you’ll see a calculator that you can use to calculate what your scaling would be, based on the type of scaling that you choose.
Back to the comparison. Number of phases. The Traders With Edge Turtle account is a one phase account and all the other accounts are a two phase. The price of the Turtle, you can see, is $750. The Traders With Edge Hare is $590, which is slightly more than the Funded Trader Standard. However, you need to consider that the account size after scaling is twice the account size, and you can get to a much larger account much faster with Traders With Edge. Is the fee refundable? On the Turtle account, it’s not a refundable fee, because it’s a one-step challenge. On all the other accounts, it is a refundable fee, once you pass your challenge account and you’re eligible for your first payout. The target for phase one on the Turtle, the Hare, and the Funded Trader Standard account are all 10%. And the target on the Rapid account is 8%. The target for phase two. There is no target for the Turtle, because it’s a one-step account, and by this stage, you would already be on a live funded account. The Traders With Edge Hare target is 5%, same with both the Funded Trader challenges.
The maximum drawdown is 5% for the Turtle, 10% for the Hare, 12% for the Funded Trader Standard account, and 8% for the Funded Trader Rapid account. The daily drawdown is 2.5% for the Turtle account, 5% for the Hare account, 6% for the Funded Trader Standard account, and 5% for the Funded Trader Rapid account. The profit share is 80% for all accounts. However, the Funded Trader may increase it up to 90%, after you’ve been trading with them for some time and you’re eligible for scaling.
All right, let’s keep going. Minimum trading days on phase one is 10 days for Traders With Edge, both accounts, it’s five days for the Funded Trader Standard account, and zero days for the Funded Trader Rapid account. The minimum trading days for phase two. There is no minimum trading days for the Turtle, because you’d already be on a funded account. Minimum 10 days, Traders With Edge Hare, five days for the Funded Trader Standard, and zero days for the Funded Trader Rapid.
The maximum time for phase one is 365 days for the Turtle, so you have a full year to pass that challenge. The Hare account is maximum of 30 days. And both the Funded Trader accounts are 35 days. The maximum days for phase two are not applicable for the Turtle, and maximum of 60 trading days for phase two for all other accounts. Can you hold over weekends? Yes, you can, on the Turtle account, you can’t on the Hare account, and you can on both the Funded Trader accounts.
Can you use EA’s? You can’t use EA’s with the Funded Trader at all. You can use EA’s with Traders With Edge. However, you need to seek approval first. The reason for this is, you can’t use the same EA that everyone else is using on your challenge account or you will lose that account. All prop firms that allow you to use EA’s have the same rule, that you can’t use exactly the same strategy as someone else who’s trading with them. So it’s better to seek approval, get the EA approved, and then you can use that with Traders With Edge.
Traders with edge allows signals, but the funded trader does not. On all accounts, you can trade news. You don’t get a free retry on Traders With Edge Turtle account, because you’ve got a year to pass the challenge, which is more than sufficient. But you do get a free retry on all the other accounts, if the maximum time is expired, you are in profit, and you haven’t violated any rules.
You can trade Forex on all accounts. You can trade digital currencies on all accounts. You can trade commodities. You can trade indices. You can trade share CFDs or stock CFDs only on Traders With Edge. You can’t trade those with the Funded Trader.
Both companies have trading competitions, where you can sign up and battle it out against people online to see who wins over a set period of time. The prizes are usually prop firm prop challenge accounts, or discounts, giveaways. Yes, both companies have giveaways. Traders With Edge currently has a giveaway, where we’re giving away three $50,000 prop challenge accounts. You don’t need to trade to be in the competition, you simply just enter your name and email address and you’re in the draw to win. This may or may not be available by the time you see this video, but we run all sorts of giveaways like this from time to time.
Trader education. Traders With Edge does have education available for traders. We want you to improve, we want you to succeed, and we want you to keep your funded trading accounts. The Funded Trader currently doesn’t have any education available. This may change in the future.
The affiliate program for both of them pays up to 20%. Traders With Edge pays 20% for the lifetime of the client. So if someone purchases today and then they purchase in a year’s time, you’re still getting paid a commission on that sale in a year’s time. So it’s kind of like a passive income stream, once you’ve referred someone.
That concludes The Funded Trader alternative and comparison. If you’ve got any questions, put it in the comments below or visit the website, traderswithedge.com, and speak to us on live chat.
Funded Trader was founded for one reason and one reason only. To financially empower traders so they can work towards their goals and reach their full potential, doing what they LOVE.
The firm was established by Traders for Traders who understand that a lot of people spend tons of money on expensive Trading courses and perfecting their skills but unfortunately lack the funds to actually take their newly acquired skills and actually make a living from them. They provide Forex & Stock Traders with the funds they require to flourish. They equip funded traders with funded accounts, enabling them to unleash and achieve their full potential.
They offer innovative evaluation programmes, provides traders with the flexibility to utilise their successful trading strategies. Their mission is to financially empower Traders so they can reach their full potential and get their dreams be transpired to reality.
They are registered in the UK as Funded Trader Ltd and are on Companies House. Their company registration number is 11955073.