With hundreds of prop firms now occupying the trading industry, it can be difficult to choose the ideal firm for your trading style. It can be even harder to keep track of all the various challenges, rules and funding models around. That’s why we are reviewing this refreshingly simple prop firm, FundYourFX.
This prop firm does not require you to pass a challenge or evaluation before giving you your trading capital. This means your trades are earning you money right from the start!
In this review we will take a look into this firms background as well as what kind of trader is best suited for this firm.
August 2023 Update
- Faster Scaling Plan – Accounts now scale faster, with the ability to achieve maximum funding in just 6 steps.
- Higher Profit Share – The maximum profit split has risen from 70% to 90%.
- Max Funding – The maximum funding offered is now $2,000,000.
If you’re limited on time, here are some of the key highlights of this prop firm.
- Instant Funding – This firm offers exclusively instant funding accounts. This means there are no challenges or evaluations to complete.
- 10% Of Trading Profits goes to Charity – FundYourFX supports a range of charities with a portion of trading profits (our of their share).
- Live Accounts with Live Funds – You will be trading using the firms live capital thereby ensuring interests of the trader and firm are aligned.
- Up to 90% Profit Share – The profit share starts at 50/50 and increases as the account scales.
- Weekly Pay Outs – This firm processes pay-outs on a weekly basis (as long as profit target has been hit).
How it Works – The Funding Model
All the accounts this firm offer are on an instant funding basis, sometimes called direct funding. This means there is no demo challenge to complete, you will be earning from your very first trade!
As always, we advise having a full understanding of the rules before purchasing an account. We find the traders who rush the process often fail the accounts. Take your time and read through the entire website and FAQ page before jumping straight in.
This firm only has one drawdown rule – overall drawdown, which is static and does not trail as you enter profit. There is no daily drawdown to worry about.
Static drawdowns are the best type among prop accounts as it provides much more room for error and gives you the best chance to maintaining the account.
The overall drawdown percentage is as follows:
|1 and 2||5%|
|3 and 4||7%|
Which Broker Does FundYourFX use?
All trading accounts are provided by Eightcap, a popular broker within the prop trading industry. Many firms use this broker due to it’s reasonable spreads, great execution speed and deep liquidity.
Profit Targets and Scaling
When trading with FundYourFX, you will receive your pay-outs and account scaling at every 10% profit target hit.
Each time you hit your profit target, the account capital will increase 50-100%. At this point you will also receive your share of the profits for the previous level.
As you progress through the levels and prove your ability, the rules and restrictions will become more relaxed.
For levels 1 to 4: The time limit for each of these levels is set at 90 days.
Level 4+: The time limit for each of these levels is set at 180 days.
Important Rules to Follow
Since traders are using live funds, FundYourFX has some risk management rules which must be followed. There are three main rules to follow which we will outline below.
As always, if you are unsure of any rule, it’s best to reach out to support for clarification before proceeding with the account.
Max Position Size (Levels 1 to 5 only) – Each account will come with a maximum permitted position size which is equal to 0.1 lot per $2000 of starting capital. Other lot size limits apply for commodities, indices and crypto.
Stop Loss Requirement (Levels 1 & 2 only) – For the first two levels of the account, a valid stop loss is required within 30 minutes of opening a trade.
Maximum Drawdown Limit – The maximum permitted drawdown begins at 5% and increases as you scale the account, up to a maximum of 10%.
FundYourFX on Social Media – Where to Find Them
FundYourFX is available on a range of social media platforms.
Current stats (as of 10/08/23):
YouTube: 1100 Subscribers / 156k total views
Facebook: 2300 Followers
Instagram: 4000 Followers
Twitter: 782 Followers
FundYourFX’s Charity Promise – Help Improve the World with Your Trading
One area in which FundYourFX stands out is the charitable element of the business. Whilst many firms’ indeed have a charitable component, FundYourFX has committed a generous 10% of all trading profits directly to some incredible charities.
Some key areas which FundYourFX focuses it’s efforts are:
- Fighting World Hunger
- Prevention of Child Abuse
- Protecting the Environment
- Improving Financial Literacy
How Legit is FundYourFX?
In this next section, we will look at some third party reviews, experiences and proofs to determine how legit this prop firm is.
FundYourFX Reviews & Testimonials
We’ve compiled some third-party reviews of this firm which we will include below:
Since I joined fundyourfx prop firm for funded account. The experience has been great with support I received since I have funded account with them. Also thanks to Ann H, she’s been supportiveBenaiah Hlebeya – TrustPilot
from day one of the interview, signing the contract to this day. Much appreciated also to all the team at fundyourfx.
Excellent support from Beby at FundYourFX.
Been very happy with the support and response time from FundYourFX. I do believe that this is something that is very important when it comes to prop firms as there are many out there that don’t have great support systems in place.
I am currently trading my 30k professional evaluation and so far, so good. I will post another review once I have had more experience with this firm and have upscaled my account + received a payout etc etcRichard Lawrie – TrustPilot
FundYourFX is an excellent prop firm that offers a great platform for traders to showcase their skills. The payout structure is very fair, and the customer service is top-notch. They offer a wide range of trading instruments, and their risk management policies are very transparent. Overall, I would highly recommend FundYourFX to any serious trader looking for a supportive and reliable prop firm.Christopher Wallis – TrustIndex
Pay Out Proofs from FundYourFX Traders
Viewing pay out proofs is a great way to determine the legitamacy of a prop firm. You can find payout proofs from various communities such as Discord, Facebook groups and Instagram. This shows that traders are activley being paid their profits.
See below for a few we found or head to their Instagram to explore more.
How to get Started Trading with FundYourFX
If you feel this firm suits your trading style, and you would like to purchase an account, read on for the next steps.
Simple choose one of the three options available, depending of how much capital you are looking for:
- $6,000 Account (£147)
- $15,000 Account (£297)
- $30,000 Account (£577)
You can make payment with a variety of methods including:
- Credit/Debit Card
- Bank Transfer
Get your trading credentials in the welcome email and log in to your chosen platform.
Make sure you have fully ready the rules and FAQ page before you start trading on the account.
If you’ve made it this far, congratulations! You are now eligible for your profit share.
What’s more, you will receive a boost of capital of 50-100%. This means your next profit share will be even greater.
Support and Contact
You can get hold of FundYourFX by various methods such as:
- Live Chat – Simply head to the website and click the icon at the bottom right of the screen to launch a live chat.
- Email – You contact FundYourFX on the following email: firstname.lastname@example.org
- Phone – You can reach FundYourFX on the following number: +44 330 551 9966 (United Kingdom)
Before contacting support, it may be a good idea to check the helpdesk first to see if this can answer your question.
Common Questions / FAQ
What withdrawal methods are available?
Traders can withdraw profits via bank transfer or cryptocurrency. Withdrawals are processed on a weekly basis, so long as the profit target has been met.
Is news trading allowed?
Yes, this firm allows news trading without any restrictions.
Is overnight/weekend holding allowed?
Yes, there are no restrictions on overnight or weekend holding.
Are expert advisors and indicators allowed?
Yes, as long as the EA follows the other rules, it is allowed.
What is the leverage on the accounts?
The leverage provided is set at 1:100 of all accounts. It's worth noting however, for the first few levels you cannot exceed the maximum lot size.
This firm has a lot of great things going for it. The price-to-drawdown ratio is among the best out their for instant funding accounts with the $15k account costing £297 yet coming with a $750 drawdown; this provides excellent value for traders.
Another great element of the firm is the scaling system. Consistent traders are not just awarded more capital, they are given more responsibility and flexibility by means of relaxing the risk management rules. On top of this, the profit split increases as you progress.
One important point to raise would be lot size limits in the early levels. This rule is vital for traders to understand and be aware of before purchasing an account. It may be that you would need to alter your trading strategy to account for this, particularly if you use scalping strategies.
Overall, we would highly recommend this firm to new and experienced traders alike. For new traders, you can use the risk management rules to guide you and ensure you don’t blow the account prematurely. For experienced traders, the extensive scaling plan rewards your experience with more money and flexibility.
Please share this review with those who you feel may benefit.