Company Information

Company Name: Bit Funded Trader
Company Legal Name: BitFX (Pty) Ltd.
Company Registration No.: 2021/145747/07
Operating Since: Undisclosed
CEO Name: Nicolaas van Burick

Challenge Details

Bit Funded Trader provided two challenge options: 1-Step Challenge and 2-Step Challenge, Here are the details :-

1-Step Challenge

Pricing:
- $10,000 Account: $109
- $25,000 Account: $215
- $50,000 Account: $325
- $100,000 Account: $545
- $200,000 Account: $1,075
Rules:
- Profit Target: 10%
- Total Loss: 6%
- Daily Loss: 3%
- Profit Share: 80%, up to 95%
- Drawdown Type: Equity-based drawdown
- Time Limit: Unlimited
- Leverage: Undisclosed
- Max Lot Size: 3 lots per $10,000 value
- Payout Frequency: 14 days
- Allows Copy Trading: Yes
- Minimum Trading Days: 2 days

2-Step Challenge

Pricing:
- $10,000 Account: $109
- $25,000 Account: $215
- $50,000 Account: $325
- $100,000 Account: $545
- $200,000 Account: $1,075
Rules:
- Profit Target (Phase 1): 8%
- Profit Target (Phase 2): 5%
- Total Loss: 10%
- Daily Loss: 5%
- Profit Share: 80%, up to 95%
- Drawdown Type: Equity-based drawdown
- Time Limit: Unlimited
- Leverage: Undisclosed
- Max Lot Size: 3 lots per $10,000 value
- Payout Frequency: 14 days
- Allows Copy Trading: Yes
- Minimum Trading Days: 5 days

Scaling Plan

Bit Funded Trader offered an easy scaling program, which allowed traders to manage up to $2 million in capital.

Eligibility Criteria:
- Achieve a net profit of at least 10% across four consecutive months (2.5% monthly average).
- Process at least two payouts within the same four-month period.
- Maintain an account balance above the initial starting value.
Process:
- Eligible accounts are evaluated automatically.
- Approved traders can opt-in for scaling.
- The account balance increases by 25%.
- Loss limits remain unchanged but apply to the new balance.
Maximum Scaling Limit: $2 million

Spreads and News Trading Rules

Spreads

Bit Funded Trader had not mentioned the spreads applied on their Platform.

News Trading Rules

Bit Funded Trader had not mentioned any news trading rules on their website.

Other Important Rules

Daily Drawdown Calculation:

Bit Funded Trader calculated Daily drawdown based on higher value between balance and equity at any moment of the day. The drawdown type used here is Equity based drawdown which means the drawdown limit will increase or decrease as the account balance grows or shrinks.

Countries Banned from Purchasing:

Bit Funded Trader did not allow traders who resided in any of the following countries:

United States of America
Iran
Syria
Myanmar
North Korea
Afghanistan
India
Russia
Belarus
Ukraine
Indonesia
Cuba
Venezuela
Sudan
South Sudan

Gambling Rules

Bit Funded Trader had not mentioned any information related to gambling rule on their website.

Prohibited Trading Strategies

Bit Funded Traders had a list of prohibited trading strategies :-

High Frequency Trading
Grid Trading
Martingale
Any sort of Arbitrage
Tick scalping

Payout Methods

Bit Funded Trader offered crypto as their only payout method for their traders.

Trading Commissions

Bit Funded Trader had not mentioned trading commissions charged on their Platform.

IP Rule

Bit Funded Trader had not mentioned any information related to IP Address rule on their website.

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