Who are FoundYourFx?
FundYourFX is a proprietary trading firm that allows individuals to trade using the firm’s capital rather than their own. Traders can apply to join the firm, and if accepted, they receive access to the company’s trading resources and capital to trade various financial instruments. FundYourFX typically operates on a profit-sharing model where traders share a portion of their profits with the firm. The company often provides tools, training, and support to its traders to help them succeed in the financial markets.
FundYourFX, a proprietary trading firm in partnership with the reputable broker Eightcap, offers a funded ECN account starting at $30,000. Traders have the potential to scale up to $1,750,000 under three refundable tariff plans, starting at a minimum fee of £147. The platform covers 40 currency pairs, 300 cryptocurrencies, 10 indices, 2 oil CFDs, and 2 gold CFDs, providing leverage up to 1:100. Trading styles and methods face no restrictions or challenges. Upon registration, traders immediately access live accounts for trading.
Traders are required to attain a minimum 10% profit within 90/180-day cycles to receive payments. Initially, the profit split with the firm stands at 50%, potentially increasing to 70% as traders scale up their activities.
Evaluation of the most influential parameters of FundYourFX
Investment Programs, Available Markets and Products of the Broker
Proprietary trading firms typically prioritize providing traders with funding to generate income through active trading rather than offering diverse investment solutions for passive income. However, FundYourFX’s partners retain the chance to earn additional income through participation in the firm’s referral program.
Partnership program from FundYourFX:
Spread (minimum value)
Detailed review of FundYourFX
The firm tailors individualized offers to traders based on their expertise and aspirations, granting initial balances ranging from $6,000 to $30,000, with opportunities to multiply these sums through successful trading. Under the Professional tariff, traders can access a maximum balance of $1,750,000. FundYourFX operates with eight scaling levels, requiring traders to transact 10% of the balance within either 90 or 180 days to progress to the subsequent level. Notably, the inclusion of MetaTrader 4 stands as a definitive advantage, augmented by the option to integrate numerous beneficial plug-ins.
FundYourFX by the numbers:
Minimum initial fee is £147;
Maximum account balance is $1,750,000;
354 trading instruments;
Target profit for 90/180 days is 10%;
Additional fee is £0.
FundYourFX is a prop firm that provides finance for trading on Forex and CFD markets
A diverse asset pool holds significant strategic importance for traders as it broadens their scope for various strategies and acts as a risk mitigation tool. Building a portfolio with a range of assets enables traders to offset potential losses in one asset with the stable performance of others. Whether trading directly with a broker or through a proprietary firm like FundYourFX, the fundamental trading conditions remain consistent. However, in this context, Eightcap offers a more extensive range of assets compared to FundYourFX. Leverage also differs, although it’s worth noting that very few proprietary trading firms provide leverage exceeding 1:100. While this leverage threshold increases profit potential, it also escalates trading risks. Understandably, by implementing limitations, this proprietary firm aims to safeguard itself from traders taking excessively risky positions beyond their capacity, acknowledging the inherent risk associated with amplified leverage.
Useful services offered by FundYourFX:
1.This proprietary firm offers accounts without requiring traders to undergo any tests, streamlining the process. Upon registration, verification, and payment of the initial fee, traders gain access to a live account starting with a $6,000 balance, facilitating quicker earnings with provided capital.
2.Traders have the option to reset an account in the event of blockage due to exceeding allowable drawdowns or violating trading rules. This reset allows for the return of the original balance, offering a fresh start. However, resets are limited to three times and involve an additional charge.
3.Allowable drawdowns across all tariff levels are contingent on the eight scaling levels. Initially set at 5%, the allowable drawdown increases to 7% by the third level and reaches 10% from the fifth level onward. This structure emphasizes the importance of self-discipline, discouraging impulsive and irrational trading decisions.
- The proprietary trader offers substantial capital to its clients. With just a refundable £147, individuals can access a live account starting with a $6,000 balance. An additional advantage lies in the scalability, allowing for potential balance growth up to $1,750,000 through successful trading.
- Traders aren’t obliged to pursue the 10% profit goal if they’re content with their current level and have no intention to scale further. However, scaling offers the advantage of increased account balance and payment volume. At higher scaling levels, the profit split elevates to 70%, starting initially at 50%.
- Apart from the initial fee, this proprietary firm doesn’t impose any additional charges. Throughout trade executions, its partners solely bear standard spreads payable to Eightcap.
- The referral program stands as a fantastic opportunity for supplementary income. Traders can freely share a referral link across the internet to draw in new partners without any limitations. Offering one of the highest bonus payouts in the segment, the program provides an initial fee of 15%.
- FundYourFX offers comprehensive technical support through various communication channels, including email, a call center, and a live chat feature available on the website. Additionally, extended FAQs and a Helpdesk accessible via live chat aid traders in swiftly resolving most issues in minimal time.
Guide on how traders can start earning profits
Initially, traders face the decision of selecting a tariff, which, although offering similar trading conditions, presents significant differences. Three crucial aspects come into play: the initial fee, starting balance, and the potential balance after scaling. For instance, securing a $6,000 balance on the Starter account requires a £147 deposit, while opting for the Professional plan necessitates a £577 deposit to access a $30,000 balance. The maximum balance potentials for the Starter and Professional plans stand at $500,000 and $1,750,000, respectively. Hence, traders need to assess their skills realistically to make an informed tariff choice.
Resetting the tariff to its original conditions is possible three times for a fee, which alleviates some pressure. However, it’s vital to note that this proprietary firm provides traders with its own funds for trading. If users engage in unnecessary risk-taking leading to frequent losses, the firm reserves the right to terminate contracts without refunding initial fees.
$189 Initial fee is £147, initial balance is $6,000, 8 scaling levels, and maximum balance is $500,000;
Initial fee is £297, initial balance is $15,000, 8 scaling levels, and maximum balance is $1,000,000;
Initial fee is £577, initial balance is $30,000, 8 scaling levels, and the maximum balance is $1,750,000.
Most proprietary firms typically conduct challenges for new clients lasting 1-2 months, verifying traders’ trading abilities. However, FundYourFX diverges from this norm. Upon registration and payment of the initial fee, users promptly gain access to a live account with a predetermined balance target, retaining 50% of the profits. This profit share can potentially escalate to 70% through scaling. To achieve this, traders need to generate a profit of 10% or more within 90/180-day cycles.
Withdrawal Options and Fees
- Traders who successfully generate profits exceeding their provided balance can withdraw their share.
- Automatic weekly profit withdrawals are facilitated through designated channels.
- For unscheduled withdrawals, traders are required to submit a withdrawal request.
- The firm endeavors to expedite request processing, yet withdrawals might take up to 10 business days due to various reasons.
- Withdrawals can be made to bank accounts, bank cards, Skrill, and the USDT ERC20 crypto wallet.
Review of the Personal Cabinet of FundYourFX
1.Go to this prop firm’s website and click the “Get Started” button in the upper right corner.
2.Watch a short tutorial video and click the “Get Started” button again.
3.Choose the plan that suits you and click the “Start Now” button below it.
4.Enter your email, first and last names, and your phone number. Select your country of residence from the list.
5.In the block below, enter your bank card details. You can choose another funding option.
6.Verify the entered information for accuracy. If applicable, input any promotional code. Consent to the terms of service by selecting the checkbox below and proceed by clicking the “Complete Order” button. Follow the on-screen instructions to finalize registration and verification.
7.Access the official website to download MetaTrader 4. Install the platform, input the registration details provided during the registration process with this proprietary firm, and initiate your trading activities.