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Funded Engineer


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Funded Engineer Prop Firm Scaling Plan Explained! Best Scaling Plan?

TheTrustedProp
Date: May 11, 2024

In the ever-evolving world of finance, traders and investors are constantly seeking opportunities to enhance their skills and grow their portfolios. One such avenue that has gained prominence in recent times is prop trading firms, and among them, Funded Engineer stands out as a noteworthy player. In this comprehensive guide, we will delve into the intricacies of Funded Engineer's scaling plan, shedding light on its unique features and benefits.

 

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Company Overview

Before we delve into the scaling plan, let's get acquainted with Funded Engineer.

  • Company Name: Funded Engineer FZCO
  • Official Mail: [email protected]
  • Registration Date: December 23, 2022
  • Country of Registration: UAE
  • Registration Number: DSO-FZCO-22617

Types of Challenges

Funded Engineer offers traders various challenges to test their skills and earn rewards. Let's explore the two primary challenge phases they provide:

One Phase Challenge

The One Phase Challenge Provides traders the opportunity to get funded with just one challenge. There is no Second Phase and with the profit targets met, Traders can directly get funded.

Two Phase Challenge

The Two Phase Challenge is the next level, offering even greater rewards. Traders once Passes Phase One has to Pass Phase two. After both the challenges are passed, the Trader can get funded. Two phase challenge comes with more benefits compared to one phase challenge, as it provides Higher Drawdown and Daily Drawdown for the traders.

How to Qualify

Qualifying for Funded Engineer's scaling plan involves meeting specific criteria:

  • Simulated Evaluation: Traders must pass a simulated evaluation process before trading in a live environment.
  • Capital Increase: Funded Engineer provides a 25% increase in the initial starting balance of the purchased challenge account every three months. To qualify for this increase, a trader must achieve a net profit of at least 10% over a three-month period.
  • Withdrawals: During the same period, traders must make at least three withdrawals, and their account balance must exceed the initial balance at the time of the increase.

If these requirements are met, the Funded Engineer team will contact the trader within 24 hours via email, providing the additional balance and new drawdown rules.

Please Note: Normal risk parameters = (Total lot size traded last 90 days / Numbers of trades taken)” Your 8 trades must meet the average of preceding trades taken.
This rule has been implemented to not have traders abusing the system and trading 0.01 lots until reaching the salary. They have to take 8 trades of average lot size of all their preceding trades before reaching scaled program. Eg: 1 trader trades XAUUSD during 3 months, he takes 40 trades. All his trades are 5 lots. Then average lot/trade is 5. To reach salary the trader will have to trade same size or higher.

Monthly Salary

Traders who aspire to earn a monthly salary from Funded Engineer need to attain the "Geared package" status. Here are the details:

  • Eligibility: After three months of simulated profitable trading.
  • Simulated Split: Upgraded from 80%/20% to 90%/10%.
  • Initial Account Balance: Increased by 25%.
  • Max Drawdown: Increased by 2%.
  • Max Daily Drawdown: Increased by 1%.
  • Same Day Withdrawals: Available.
  • Monthly Salary: Traders can earn $200 USD monthly for challenges ranging from $6,000 to $100,000 and $500 USD monthly for challenges between $200,000 to $500,000.
  • 1-on-1 Coaching: Traders receive monthly coaching sessions with a Mindset Psychologist.
  • Free Challenge: If an account fails, traders receive a free challenge of the same value as the initial purchase.

Levels of Scaling

Funded Engineer offers several scaling levels, each with its own set of benefits. Let's take a closer look at them:

Geared Package

  • Eligibility: After 3 months of simulated profitable trading.
  • Simulated Split: Upgraded to 90%/10%.
  • Initial Account Balance: Increased by 50%.
  • Max Drawdown: Increased by 4%.
  • Max Daily Drawdown: Increased by 2%.
  • Same Day Withdrawals: Available.
  • Monthly Salary: $500 USD for challenges ranging from $6,000 to $100,000 and $1,000 USD for challenges between $200,000 to $500,000.
  • 1-on-1 Coaching: Monthly coaching sessions with a Mindset Psychologist.
  • Free Challenge: If an account fails, traders receive a free challenge of the same value as the initial purchase.

Geared Up Package

  • Eligibility: After 6 months of simulated profitable trading.
  • Simulated Split: Upgraded to 90%/10%.
  • Initial Account Balance: Increased by 100%.
  • Max Drawdown: Increased by 10%.
  • Max Daily Drawdown: Increased by 4%.
  • Same Day Withdrawals: Available.
  • Monthly Salary: $500 USD for challenges ranging from $6,000 to $100,000 and $1,000 USD for challenges between $200,000 to $500,000.
  • 1-on-1 Coaching: Monthly coaching sessions with a Mindset Psychologist.
  • Free Challenge: If an account fails, traders receive a free challenge of the same value as the initial purchase.

Geared Elite Package

  • Eligibility: After 9 months of simulated profitable trading.
  • Simulated Split: Upgraded to 90%/10%.
  • Initial Account Balance: Increased by 75%.
  • Max Drawdown: Increased by 6%.
  • Max Daily Drawdown: Increased by 3%.
  • Same Day Withdrawals: Available.
  • Monthly Salary: $500 USD for challenges ranging from $6,000 to $100,000 and $1,000 USD for challenges between $200,000 to $500,000.
  • 1-on-1 Coaching: Monthly coaching sessions with a Mindset Psychologist.
  • Free Challenge: If an account fails, traders receive a free challenge.
  • Concierge Service: Worth up to $2,000 USD.

Engineered Package

  • Eligibility: After 12 months of simulated profitable trading.
  • Simulated Split: Upgraded to 90%/10%.
  • Initial Account Balance: Increased by 100%.
  • Max Drawdown: Increased by 10%.
  • Max Daily Drawdown: Increased by 4%.
  • Same Day Withdrawals: Available.
  • Monthly Salary: $500 USD for challenges ranging from $6,000 to $100,000 and $1,000 USD for challenges between $200,000 to $500,000.
  • 1-on-1 Coaching: Monthly coaching sessions with a Mindset Psychologist.
  • Free Challenge: If an account fails, traders receive a free challenge.
  • Concierge Service: Worth up to $5,000 USD.

In conclusion, Funded Engineer's scaling plan offers traders a unique opportunity to advance their trading careers and earn substantial rewards. By meeting the eligibility criteria and progressing through the various scaling levels, traders can achieve financial success and benefit from valuable coaching sessions. If you're looking to take your trading to the next level, Funded Engineer provides a clear path to success.

FAQs

Yes, Funded Engineer welcomes traders from around the world.

If your account fails a challenge, you will receive a free challenge of the same value as your initial purchase.

Coaching sessions with a Mindset Psychologist are held on a monthly basis.

Yes, same-day withdrawals are available to qualified traders.

Funded Engineer operates within the regulatory framework of the UAE.

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