AquaFunded is a well known trusted prop firm which is based in Dubai and Founded by Sean Bainton, Jason Blax and Franco Crean in December 2023. The prop firm is based in Dubai and operated under the leadership of CEO Jason Blax. AquaFunded has over 10,000 Trader worldwide and has paid over $1.3 million in total payouts. With the scaling plan, traders can increase their funding up to $2 million.

Company Information

Company Name : AquaFunded

Company Legal Name and Registration No. : Aqua Funded FZCO (35582)

Company CEO : Jason Blax

Company Address : Dubai Silicon Oasis, DDP, Building A2, Dubai, United Arab Emirates

Challenge Details

Aqua Funded offer 4 different type of Challenges, catering all kind of traders based on their preference and skills. These program are 1 Step Challenge, 2 Step Challenge, 2 Step Pro Challenge and 3 Step Challenge.

1 Step Challenge

Prices : 

• $5,000 : $45

• $10,000 : $77

• $25,000 : $157

• $50,000 : $237

• $100,000 : $397

• $200,000 : $797

Rules:

• Profit Target: 9%
• Total Loss: 6%
• Daily Loss: 3%
• Profit Share: 90%
• Drawdown Type: Trailing
• Time Limit: Unlimited
• Leverage: 1:100 on Forex, 1:20 on Commodities, 1:20 on Indices and 1:2 on Cryptocurrencies.
• Max Lot Size: No limit
• Payout Frequency: 14 days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days

2 Step Challenge

Prices : 

• $5,000 : $45

• $10,000 : $77

• $25,000 : $157

• $50,000 : $237

• $100,000 : $397

• $200,000 : $797

Rules:

• Profit Target(Phase 1): 8%
• Profit Target(Phase 2): 5%
• Total Loss: 8%
• Daily Loss: 5%
• Profit Share: 90%
• Drawdown Type: Static
• Time Limit: Unlimited
• Leverage: 1:100 on Forex, 1:20 on Commodities, 1:20 on Indices and 1:2 on Cryptocurrencies.
• Max Lot Size: No limit
• Payout Frequency: 14 days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days

2 Step Pro Challenge

Prices : 

• $10,000 : $112

• $25,000 : $224

• $50,000 : $320

• $100,000 : $496

• $200,000 : $960

Rules:

• Profit Target(Phase 1): 10%
• Profit Target(Phase 2): 5%
• Total Loss: 10%
• Daily Loss: 5%
• Profit Share: 90%
• Drawdown Type: Static
• Time Limit: Unlimited
• Leverage: 1:50 on Forex, 1:10 on Commodities, 1:10 on Indices and 1:2 on Cryptocurrencies. (Leverage Can be increased to max 1:100)
• Max Lot Size: No limit
• Payout Frequency: 14 days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days

3 Step Challenge

Prices : 

• $10,000 : $53

• $25,000 : $117

• $50,000 : $181

• $100,000 : $293

• $200,000 : $533

Rules:

• Profit Target(Phase 1): 6%
• Profit Target(Phase 2): 6%
• Profit Target(Phase 3): 6%
• Total Loss: 8%
• Daily Loss: 4%
• Profit Share: 90%
• Drawdown Type: Static
• Time Limit: Unlimited
• Leverage: 1:100 on Forex, 1:20 on Commodities, 1:20 on Indices and 1:2 on Cryptocurrencies.
• Max Lot Size: No limit
• Payout Frequency: 14 days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days

Scaling Plan

AquaFunded provides a simple and easy scaling plan, To scale up the account, trader only has to make at least 12% profit in the period of 3 Months. If a trader meets this criteria then their account will be increased by 25% of the initial balance and the cycle will keep continue until the account reaches to $2 million in scaled up funding.

 Spreads and News Trading Rules

Spreads

AquaFunded offers raw spreads provided by their ECN broker. 

News Trading Rules

Aqua Funded allows news trading but only in evaluation phases but in Funded Phase, Traders are restricted from opening or closing any trade before and after 5 minutes of a high impact news and red folder event. In addition any profit that has been made in this time period will be removed and there will be no account violation due to that.

Other Important Rules :-

Daily Drawdown Calculation

Daily Drawdown is calculated based on trailing drawdown, the daily drawdown limit is based on the given percentage of the initial balance and will apply based on the highest equity or balance the account has at 5pm EST, Do keep in mind that this drawdown limit will not grow or shrink but change place according to the highest balance in the account.

Countries Banned from Purchasing

There are few countries that Aqua Funded does not provide any services and these countries are Cuba, Iran, Syria, Pakistan, Vietnam, Thailand, Kenya, Myanmar, Albania, Algeria, Brazil, Bulgaria, Japan, Jordan, North Korea, Senegal, Singapore, Malaysia, Indonesia, Philippines.

Prohibited Strategies 

There are few trading strategies that Aqua Funded keeps under the list of Prohibited strategies and these strategies are :

• Latency arbitrage
• Utilizing NonPublic or insider information like signals 
• Hedging in the same account or with multiple accounts
• Off-the-Shelf EAs
• Front Running Trades
• All or Nothing Strategies
• Tick Scalping
• Arbitrage
• High-Frequency Trading
• Reverse Arbitrage

Payout Methods :

AquaFunded provides payouts via Riseworks. Traders can simply submit withdrawal request and after that AquaFunded will send the profits to the trader’s rise account and after that trader can withdraw their payout in crypto or transfer the money straight to the bank.

Trading Commissions :

Commissions set for cryptocurrencies and indices - $0 per lot

Commissions set for forex and Commodities - 5$ per lot