Company Information

Company Name: FundedElite
Company Legal Name: Quantum SRLS
Company Registration no.: 03095010595
Operating Since: February 2024
CEO Name: Christian Habibi

Challenge Details

FundedElite offers 3 types of challenge account named as 1-Step, 2-Step and Lite Challenge and an Instant Funding program which they call Elite Now. Here are the details :-

1-Step Challenge

Pricing

• $7,000 Account: $90
• $15,000 Account: $130
• $25,000 Account: $225
• $50,000 Account: $339
• $100,000 Account: $569
• $200,000 Account: $1085

Rules

• Profit Target: 10%
• Total Loss: 8%
• Daily Loss: 3%
• Profit Share: 80%, up to 95%
• Drawdown Type: Static Drawdown
• Time Limit: Unlimited
• Leverage: 1:50
• Max Lot Size: N/A
• Payout Frequency: 14 Days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days
• Free Retry: Yes

2-Step Challenge

Pricing

• $7,000 Account: $79
• $15,000 Account: $115
• $25,000 Account: $195
• $50,000 Account: $295
• $100,000 Account: $495
• $200,000 Account: $945

Rules

• Profit Target (Phase 1): 8%
• Profit Target (Phase 2): 5%
• Total Loss: 8%
• Daily Loss: 5%
• Profit Share: 80%, up to 95%
• Drawdown Type: Static Drawdown
• Time Limit: Unlimited
• Leverage: 1:50
• Max Lot Size: N/A
• Payout Frequency: 14 Days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days
• Free Retry: Yes

Lite Challenge

Pricing

• $7,000 Account: $19
• $10,000 Account: $39
• $15,000 Account: $59
• $25,000 Account: $89
• $50,000 Account: $199
• $100,000 Account: $299

Rules

• Profit Target (Phase 1): 8%
• Profit Target (Phase 2): 5%
• Total Loss: 8%
• Daily Loss: 4%
• Profit Share: 80%
• Drawdown Type: Static Drawdown
• Time Limit: Unlimited
• Leverage: 1:50
• Max Lot Size: N/A
• Payout Frequency: 14 Days
• Allows Copy Trading: yes
• Min Trading Days: 3 Days
• Free Retry: No

Elite Now (Instant Funding)

Pricing

• $7,000 Account: $90
• $15,000 Account: $130
• $25,000 Account: $225
• $50,000 Account: $339
• $100,000 Account: $569
• $200,000 Account: $1085

Rules

• Profit Target: None
• Total Loss: 6%
• Daily Loss: 4%
• Profit Share: 75%, up to 95%
• Drawdown Type: Trailing Drawdown
• Time Limit: Unlimited
• Leverage: 1:50
• Max Lot Size: N/A
• Payout Frequency: 14 Days
• Allows Copy Trading: Yes
• Min Trading Days: 3 Days

Scaling Plan

FundedElite offers a unique scaling plan to reward consistent traders:

• After 3 Payouts: The initial balance increases by 10% on every third successful payout. Additionally, the overall drawdown limit increases by 1%, with a maximum cap of 14%.
• After 5 Payouts: The profit split increases from 80% to 90%.
• After 7 Payouts: Traders can withdraw profits weekly instead of every 14 days.

Spreads and News Trading Rules

Spreads

FundedElite offers tight spread, ranging between 0.01 to 0.02 pips.

News Trading Rules

Yes, FundedElite allow traders to trade during major news events across all challenges and Funded account.

Other Important Rules

Daily Drawdown Calculation

In FundedElite, Daily drawdown is calculated based on the equity or balance whichever is higher at the end of each day at 10:00 PM UTC. The drawdown amount can increase or decrease based as the account size grows or shrinks based on the PnL.

Countries Banned from Purchasing

FundedElite restricts purchases on these countries listed below :

•  Iraq
• Cuba
• Iran
• North Korea
• Lebanon
• Libya
• Crimea
• Donetsk
• Luhansk regions of Ukraine
• Somalia

Prohibited Trading Strategies

Here are the list of strategies which are prohibited on FundedElite's Trading platforms.

1. HFT and High-Frequency Scalping
2. One-Sided Betting
3. Tick Scalping
4. Account Sharing and Account Management
5. Hedging
6. Latency Arbitrage
7. Account Passing Services
8. Server Spamming (e.g., mass orders in a short time)
9. Weekend Trading (opening new positions on weekends is not allowed)

Payout Methods

FundedElite provide payouts through Rise.

Trading Commissions

FundedElite has partnered with ThinkMarkets and Purple Trading. Here are the commissions based on both of the broker.

• ThinkMarkets:
  • Forex, Metals, and Oils: $7 per lot
  • Indices, XPD, XPT, NGAS, and Crypto: $0 per lot
• Purple Trading:
  • Forex, Metals, and Oils: $3 per lot
  • Indices, XPD, XPT, NGAS, and Crypto: $0 per lot

IP Rule

FundedElite has IP restrictions, Traders can only trade from the same device which they have used to purchase their account, if a trader wants to trade with multiple devices or use VPN or VPS then the trader will have to provide that IP Address and take approval from FundedElite Support team.