FundedX is a prop trading firm which is based on Dubai and offer traders the capital of up to $200K in funding. FundedX offers both 1-Phase and 2-Phase programs to provide the most competitive offerings in the prop firm space and also offers a scaling plan which allow traders to increase their trading capital of up to $5 million.

Company Information

Company Name: FundedX
Company Legal Name: FundedX LLC
Company Registration Number: Undisclosed
Operating Since: February 2024
CEO Name: Undisclosed

Challenge Details

FundedX provides traders with two challenge types: a 1-Phase and a 2-Phase program. Each challenge is designed to offer various funding options and trading requirements.

1-Phase Challenge Details

Pricing:

Size $5,000: $69
Size $10,000: $129
Size $25,000: $259
Size $50,000: $319
Size $100,000: $529
Size $200,000: $989

Rules:

Profit Target: 10%
Total Loss: 7%
Daily Loss: 4%
Profit Share: 80%
Drawdown Type: Trailing Drawdown
Time Limit: Unlimited
Leverage: Forex 1:50, Indices 1:50, Commodities 1:50, Crypto 1:10
Max Lot Size: No lot size limit
Payout Frequency: Every 14 days
Allows Copy Trading: Yes
Min Trading Days: 5 days

2-Phase Challenge Details

Pricing:

Size $5,000: $69
Size $10,000: $129
Size $25,000: $259
Size $50,000: $319
Size $100,000: $529
Size $200,000: $989

Rules:

Profit Target (Phase 1): 8%
Profit Target (Phase 2): 5%
Total Loss: 10%
Daily Loss: 5%
Profit Share: 80%
Drawdown Type: Static Drawdown
Time Limit: Unlimited
Leverage: Forex 1:50, Indices 1:50, Commodities 1:50, Crypto 1:10
Max Lot Size: No lot size limit
Payout Frequency: Every 14 days
Allows Copy Trading: Yes
Min Trading Days: 3 days

Scaling Plan

FundedX offers a very easy scaling plan that allows traders to grow their capital up to $5 million. To be eligible, trader must have to make at least 5% profit over a three-month period. After that, FundedX will scale the trading capital by 50%. This scaling review is conducted every three months and scales up as the account progresses.

Spreads and News Trading Rules

Spreads:

FundedX offers a variety of trading pairs with different spreads. For traders requiring the tightest spreads, the .pro type trading pairs are recommended.

News Trading Rules:

FundedX does not allow trading around high-impact news events. Trades should not be opened or closed within two minutes before or after a high-impact news release, although traders can hold their open trades during the event.

Other Important Rules

Daily Drawdown Calculation:

FundedX calculates daily drawdown based on the account balance at the end of each trading day. The nature of this daily drawdown will be based on Balance-Based drawdown which allows the drawdown limit to grow with the account balance without reducing due to a losing trade.

Countries Banned from Purchasing:

FundedX restricts its services to certain regions due to regulatory considerations. Currently, the following locations are restricted:

North Korea
Afghanistan
Belarus
Central African Republic
China
Cuba
Libya
Nicaragua
Palestinian Authority/Gaza/West Bank
Venezuela
FATF and EU/UN Sanctioned Regions

Prohibited Trading Strategies

To ensure compliance and maintain a healthy trading environment, FundedX restricts certain trading strategies:

Hedging or Group Hedging Across Multiple Accounts: Hedging is allowed on the same account, but using multiple accounts for this purpose is prohibited, as it is not deemed a sound trading strategy.
Grid Trading: Grid trading, which involves placing both buy and sell orders on the same asset, is not allowed, as it can lead to excessive leveraging and market manipulation risks.
Account Sharing: Sharing accounts with other individuals or entities is strictly prohibited to maintain account integrity and prevent unauthorized activities.

Payout Methods

FundedX offers two payout options, ensuring flexibility for traders worldwide:

Bank Transfer
Crypto

Trading Commissions

FundedX provides various trading pair options for different commission structures. The '.pro' type trading pairs offer the most competitive spreads for traders focused on minimizing their costs.

IP Rule

FundedX has no mention of any IP Address rule. To be on a safe side, we recommend traders to use the same device from which they have purchased the account.

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