The FunderPro Two Phase Challenge presents a significant opportunity for traders to advance their careers by managing substantial capital. This challenge is carefully structured to evaluate traders’ abilities in both generating profits and managing risks effectively. Understanding the challenge's details and rules is crucial for those looking to succeed.

What is the FunderPro Two Phase Challenge?

The FunderPro Two Phase Challenge is a comprehensive evaluation program designed to test traders’ skills across two phases. Each phase has specific objectives that must be met to progress. The challenge offers multiple account sizes, catering to traders at different levels of experience and financial goals. Successful completion of both phases results in the trader being awarded a funded account, enabling them to trade with real capital.

Phase 1 Overview

Objectives of Phase 1:
The primary goal of Phase 1 is for traders to achieve a specific profit target while adhering to strict risk management rules. This phase assesses the trader’s ability to generate consistent profits without exceeding the set drawdown limits.

Profit Target, Maximum Drawdown, and Trading Days:
During Phase 1, traders must achieve a profit target of 10% of the initial account balance. The maximum daily drawdown is set at 5%, and the overall drawdown limit is 10%. There are no minimum trading days required, allowing traders to complete this phase at their own pace.

Examples of Phase 1 Challenges Across Different Account Sizes:

• $5,000 Account:
  • Profit Target: $500 (10%)
  • Max Daily Drawdown: $250 (5%)

  • Max Overall Drawdown: $500 (10%)

     

• $10,000 Account:
  • Profit Target: $1,000 (10%)
  • Max Daily Drawdown: $500 (5%)

  • Max Overall Drawdown: $1,000 (10%)

     

• $50,000 Account:
  • Profit Target: $5,000 (10%)
  • Max Daily Drawdown: $2,500 (5%)

  • Max Overall Drawdown: $5,000 (10%)

     

Phase 2 Overview

Transition from Phase 1 to Phase 2:
After successfully completing Phase 1, traders advance to Phase 2, where they are required to meet slightly adjusted targets. The focus in Phase 2 is on maintaining profitability while demonstrating consistent risk management over a longer period.

Requirements and Conditions:
In Phase 2, the profit target is set at 8% of the initial balance. The drawdown limits remain the same as in Phase 1, with a 5% daily drawdown and a 10% overall drawdown. Like Phase 1, there are no minimum trading days, allowing traders to proceed at their own pace.

Success Metrics for Phase 2:

• $5,000 Account:
  • Profit Target: $400 (8%)
  • Max Daily Drawdown: $250 (5%)

  • Max Overall Drawdown: $500 (10%)

     

• $10,000 Account:
  • Profit Target: $800 (8%)
  • Max Daily Drawdown: $500 (5%)

  • Max Overall Drawdown: $1,000 (10%)

     

• $50,000 Account:
  • Profit Target: $4,000 (8%)
  • Max Daily Drawdown: $2,500 (5%)

  • Max Overall Drawdown: $5,000 (10%)

     

Funded Account Details

What Happens After Passing Both Phases?
Upon successfully passing both phases, traders are awarded a funded account, where they can trade with real capital. The rules and expectations for the funded account remain consistent with the challenge, emphasizing disciplined trading and risk management.

Funded Account Rules and Expectations:
With a funded account, traders can retain a significant portion of the profits they generate, typically around 80%. However, the same risk management rules, including daily and overall drawdowns, apply to ensure continued discipline in trading.

Long-term Trading Goals:
The ultimate goal for traders is to sustain long-term profitability. With the funded account, the focus should be on steadily growing the account while minimizing risks.

Account Sizes and Fee Structure

FunderPro offers various account sizes to accommodate different traders. The refundable fees vary based on the account size. Here is a breakdown of the available accounts and their corresponding fees:

• $5,000 Account: $139 (refundable)
• $10,000 Account: $249 (refundable)
• $25,000 Account: $349 (refundable)
• $50,000 Account: $549 (refundable)
• $100,000 Account: $819 (refundable)
• $150,000 Account: $1,099 (refundable)

• $200,000 Account: $1,199 (refundable)

   

Refundable Fees and Conditions:
The fee paid for entering the challenge is refunded once the trader successfully completes both phases and begins trading with a funded account. This refund policy incentivizes traders to approach the challenge seriously and strive for success.

Trading Instruments and Leverage

Types of Assets Available for Trading:
Traders participating in the FunderPro Challenge have access to a wide range of instruments, including Forex, Metals, Oil, Indices, and Cryptocurrencies. Each asset class comes with specific leverage options.

Leverage Options for Different Instruments:

• Forex: Up to 1:100
• Metals, Oil, Indices: Up to 1:50

• Crypto: Up to 1:2

   

Risk Management Strategies:
Leverage can significantly amplify both profits and losses. Therefore, managing leverage wisely is crucial to avoid exceeding drawdown limits and jeopardizing progress in the challenge.

Profit Targets and Drawdowns

Detailed Explanation of Profit Targets:
In both phases, traders are required to meet profit targets of 10% in Phase 1 and 8% in Phase 2. These targets are challenging but achievable for traders who adopt a disciplined approach.

Understanding Daily and Overall Drawdowns:
Drawdown limits are vital to a trader's success in the challenge. The maximum daily drawdown is capped at 5%, while the overall drawdown is limited to 10%. Exceeding these limits results in immediate disqualification from the challenge.

Effective Drawdown Management:
Effective drawdown management involves closely monitoring trades, avoiding over-leveraging, and adhering to a well-defined trading plan. Implementing stop-loss orders can also help mitigate potential losses.

Unlimited Challenge Duration

Advantages of No Time Limit:
One of the significant advantages of the FunderPro Challenge is the unlimited duration, which allows traders to proceed at their own pace without the pressure of a deadline. This enables a focus on quality trading decisions rather than quantity.

Strategies for Pacing Yourself:
Without the constraints of a time limit, traders can focus on making well-considered trades. Patience is key; waiting for the right trading setup is more advantageous than rushing into trades.

Maximizing the Benefits of Unlimited Duration:
The unlimited duration provides an opportunity for traders to refine their strategies, learn from any mistakes, and adjust their approach as needed, thereby increasing their chances of success.

Maximum Lots and Risk Management

Understanding Maximum Lot Sizes:
Each account size comes with a maximum lot limit, which dictates the largest position size a trader can take on a single trade. These limits are in place to prevent excessive risk-taking.

Impact of Lot Sizes on Risk:
While larger lot sizes can lead to higher profits, they also increase risk. It's crucial for traders to balance their lot sizes with their overall risk tolerance and the drawdown limits.

Risk Management Tips with Lot Sizes:
Traders should consider starting with smaller lot sizes and gradually increasing them as they build confidence and see consistent results. Maintaining a favorable risk-reward ratio is essential to ensure trades are worthwhile.

Swing vs. Regular Challenge

Differences Between Swing and Regular Challenges:
FunderPro offers both Swing and Regular Challenges. The primary difference lies in the leverage and maximum lot sizes. Swing accounts have lower leverage and smaller maximum lots, making them suitable for longer-term trades.

Leverage Differences and Their Implications:

• Regular Challenge: Up to 1:100 leverage

• Swing Challenge: Up to 1:30 leverage

   

Choosing the Right Challenge for Your Trading Style:
Traders who prefer day trading with higher leverage may find the Regular Challenge more suitable. Those who focus on swing trading, holding positions for several days, may benefit more from the conditions offered in the Swing Challenge.

Refund Policy

Conditions for Obtaining a Refund:
To qualify for a refund, traders must pass both phases of the challenge and start trading with a funded account. The refund process is straightforward and initiated once live trading begins.

How the Refund Process Works:
Upon meeting the refund conditions, the fee paid for the challenge is returned to the trader’s account. The refund is typically processed within a few business days.

Adhering to Rules for a Successful Refund:
Following the challenge rules is essential for securing a refund. Any rule violations, such as exceeding drawdown limits, will disqualify traders from receiving a refund.

Common Mistakes to Avoid

Overview of Common Pitfalls:
Traders often make mistakes such as over-leveraging, failing to adhere to drawdown limits, and engaging in emotional trading. These pitfalls can lead to quick disqualification.

Tips for Staying on Track:
To avoid these pitfalls, traders should develop and adhere to a solid trading plan, resist emotional decision-making, and focus on consistency and discipline.

Avoiding Emotional Trading:
Emotional trading often leads to impulsive decisions that negatively impact performance. Traders can avoid this by taking breaks, regularly reviewing their strategies, and focusing on long-term goals.

Conclusion

The FunderPro Two Phase Challenge offers traders a structured and rewarding pathway to managing significant capital. By understanding the challenge rules, managing risk effectively, and maintaining discipline, traders can navigate both phases successfully. Whether participating in the Regular or Swing Challenge, traders have the opportunity to prove their skills and achieve long-term success with a funded account.