The Funded Trader has taken the industry by storm becoming possibly the fastest-growing prop firm ever. The constant innovation by this firm has a lot to do with its rapid growth, with new challenges and promotions added regularly.
In this guide, we will look at the various challenges this firm offers and which trader each one is best suited to.
Quick View Comparison Table
| Standard | Rapid | Royal | Knight | |
| Maximum Drawdown | 12% | 8% | 10% | 6% |
| Daily Drawdown | 6% | 5% | 5% | 3% |
| Min Trading Days | 3 | 0 | 5 | 0 |
| Phase 1 Profit Target | 10% | 8% | 8% | 10% |
| Phase 2 Profit Target | 5% | 5% | 5% | N/A |
| Phase 1 Time Limit | 35 Days | 35 Days | 35 Days | No Limit |
| Phase 2 Time Limit | 60 Days | 60 Days | 60 Days | N/A |
| Leverage | 200 (Swing: 60) | 100 (Swing:30) | 200 | 30 |
| Expert Advisors | No | No | Yes | Yes |
| Min Account Size | $10,000 | $10,000 | $50,000 | $25,000 |
| Max Account Size | $400,000 | $200,000 | $400,000 | $200,000 |
| Lot Size Restrictions | Yes* | Yes* | No | No |
Standard Challenge
The original funding model provided by The Funded Trader is the standard challenge which boasts a huge 12% drawdown and a generous 80% to 90% profit split (watch out for special promotions to increase this).
In addition, traders benefit from a massive 1:200 leverage and only 3 minimum trading days. Account sizes range from $10,000 to $400,000.
Ideal For:
Due to a larger drawdown limit, this challenge is best for newer traders as well as traders with a more aggressive strategy.
This account also has the highest leverage at 1:200 so it will also suit those who rely on large leverage such as scalpers.
Rapid Challenge
The rapid challenge is designed for those who are a little less patient (or more aggressive?). The profit target is reduced by 2% but the drawdowns are also substantively reduced.
On the flip side, there are no minimum trading days and after becoming funded, traders can request a payout every 14 days.
Ideal For:
This challenge features a slightly lower profit target and no minimum trading days. Therefore, this challenge is best suited for traders who are looking to get funded fast and are happy to sacrifice some drawdown limit to do so.
Royal Challenge
The royal challenge was introduced in late 2022 and is the first time this firm has allowed expert advisors. The drawdowns and targets are slightly more demanding than their standard challenge but still in line with industry standards.
Ideal For:
This challenge is ideal for those looking to use an expert advisor. For traders not using an EA, other challenges offer more benefits.
Knight Challenge
The Knight challenge is the latest offering by The Funded Trader and follows suit of many other prop firms by offering a single-phase funding model.
Much like other single-phase challenges, the drawback is the trailing drawdown which is relative to the high watermark of the account. Nonetheless, this challenge has some great features such as the ability to receive a pay-out every 7 days!
Ideal For:
With no time limit and tighter drawdowns, this challenge is best for risk-averse traders or those who prefer to trade without time constraints.
Our Top The Funded Trader Challenge Choice
It’s difficult to choose the best challenge as each has its pros and cons. If we had to choose, however, we would go with the standard challenge.
The standard challenge has an industry-leading 12% maximum drawdown which gives traders plenty of room to move. It also has options for most budgets with the $10,000 challenge costing just $139 and the $400,000 challenge for those looking for massive capital.
Nice overview. Unfortunately, a very essential point is missing. Lot size Limit!!
Thanks! Good point, I’ve updated the table to include the lot size restrictions.