FundedBull Review 2026: Still Paying or Already Dead?

Updated: May 19, 2026

Here's the short version before I dig in. FundedBull launched in July 2024, registered in Singapore as RateRight Pte. Ltd. It offers 1-step, 2-step, and 3-step challenges with up to 90% profit split and weekly payouts. The pricing is competitive. The rule set is reasonable.

And there's a strong chance the firm is already closed.

The TrustedProp backend flags firm_closed: true, even though the firm's own status reads "active." That inconsistency alone should make any trader pause before handing over money. I reached this conclusion after going through the available data, the Trustpilot history, and the complete absence of recent payout proof or forum activity. The last Trustpilot review with real substance came from September 2025, and it was a 1-star scam accusation.

Let me walk through everything.

Company Background: Who Runs FundedBull?

FundedBull is the trading name of RateRight Pte. Ltd., registered in Singapore with number 049422. The CEO is Desimir Paskalev. The registered address is 68 Circular Road #02-01, Singapore.

That's about all we know for certain.

The firm launched on July 4, 2024. That makes it roughly 22 months old as of May 2026. In prop firm terms, that's young but not dangerously young. FTMO has been around since 2014. The5ers since 2016. FundedNext since 2022. A 2024 launch puts FundedBull in the same cohort as a lot of post-2022 prop firms that popped up during the boom.

The company is unregulated, which is standard for prop firms. No SEC, FCA, or MAS oversight. You're trusting the firm's word and payout history, not a regulatory framework.

The CEO's LinkedIn profile is not available in the data. Neither are the COO, CTO, or founder details. That lack of public leadership visibility is a yellow flag, not a red one on its own (many prop firm owners keep a low profile), but it adds to the opacity.

Challenge Types and Pricing

FundedBull offers four challenge models. Let me break each one down.

1-Step Challenge

This is the most aggressive path to funding. One phase, 9% profit target, pass and you're funded at 90% profit split.

Rules: 6% total drawdown, 3% daily drawdown, trailing-based drawdown, unlimited time, 50:1 leverage, minimum 5 trading days, payouts every 7 days after the first 14.

The $1,000 account for $39 is cheap. The $100,000 for $512 is in line with firms like FTMO ($535 for the same size, 2-step) and FundedNext ($499 for 1-step, 80% split).

The catch: 9% profit target with only 6% total drawdown is tight. You need to make 9% while risking no more than 6% of your account. With trailing drawdown, the max loss shrinks as you make profit. One bad day that hits the 3% daily loss limit and you're done.

2-Step Challenge

Two phases, more room to breathe.

Rules: Phase 1 target 8%, Phase 2 target 5%, 8% total drawdown, 4% daily drawdown, balance-based drawdown (not trailing), unlimited time, 50:1 leverage, minimum 5 trading days.

The pricing here is notably cheaper than the 1-step on a per-phase basis. The $100K at $496 works out to $248 per phase. That's good value if you prefer a two-phase structure.

The balance-based drawdown means your max loss stays fixed, it doesn't trail upward as you make profit. That's easier to manage than the trailing drawdown on the 1-step.

3-Step Challenge

Three phases, lowest profit targets per phase.

Rules: 6% target per phase (three phases total), 7% total drawdown, 4% daily drawdown, balance-based drawdown, unlimited time, 50:1 leverage, minimum 5 trading days.

The 3-step is cheaper than the 2-step at every tier. That makes sense. You're paying less per account because you're doing more work to pass. Three phases at 6% each means you need consistent execution over a longer period with less margin for error on drawdown.

The pricing at $40 for a $5K is about as cheap as it gets in the industry. But you're trading time for money.

1-Step Lite Challenge

Same as the 1-step but with a 50% profit split instead of 90%. Much cheaper.

Rules: Same as 1-step: 9% target, 6% total loss, 3% daily loss, trailing drawdown, unlimited time, 7-day payouts.

The $12 for $1K is close to a trial account. The $50K at $189 is a solid deal if you can pass. The trade-off is obvious. You keep half your profit instead of 90%.

Trading Rules and Conditions

Drawdown Types

This part matters more than most traders realize.

The 1-step and 1-step Lite use trailing-based drawdown. Your max loss shrinks as your equity grows. If you start at $100K with 6% total drawdown, your floor is $94K. If you make $5K and your equity hits $105K, the floor moves up to $98,700 (94% of the new high). Hit a losing streak right after a winning run and you'll hit drawdown faster than you expect.

The 2-step and 3-step use balance-based drawdown. Your max loss stays fixed at the starting account size minus the drawdown percentage. A $100K account with 8% drawdown means you can't go below $92K, period. No trailing. Easier to track, easier to manage.

Which one is better? Depends on your style. Balance-based is safer for swing traders and anyone who takes occasional large swings. Trailing rewards consistent compounding but punishes volatility.

News Trading

FundedBull says news trading is allowed but you cannot trade 5 minutes before or after major news events on challenge accounts. That's a restriction, not a ban. Some firms prohibit news trading entirely. FundedBull's approach is middle-ground.

The question nobody seems to have answered clearly is how they define "major news events." Is it high-impact only? All scheduled news? Does NFP count? CPI? FOMC? The dashboard has an economic calendar, which helps, but the enforcement method is unclear. Manual review? Automated blocks? No one outside the firm seems to know.

Leverage and Commissions

50:1 leverage across all account types. That's standard for forex prop firms. Some firms offer 100:1. FundedBull sticks to 50.

Commissions start from $0, which suggests they offer some commission-free instruments, likely forex pairs, with spreads making up the cost. Tight spreads are mentioned as low as 0 pips, which is typical marketing language and should be taken with skepticism. Zero-pip spreads usually apply to a handful of major pairs during liquid hours.

Prohibited Strategies

FundedBull bans high-frequency trading, arbitrage, martingale, all-in trading, copy trading from others, account passing services, and group trading.

The HFT ban covers both EA-based and manual HFT. That's stricter than some firms. The copy trading prohibition is absolute, no copying from other traders or signal services. Group trading is also banned.

These rules are standard. Nothing unusual here.

Platforms

FundedBull supports four platforms: DXTrade, cTrader, MatchTrader, and TradeLocker.

DXTrade and MatchTrader are common among prop firms using the TraderEvolution or similar infrastructure. cTrader is a solid platform with good execution. TradeLocker is newer but functional.

No MT4 or MT5, which might be a dealbreaker for traders who rely on specific MT4 EAs. But for manual traders, cTrader is arguably better than MT4 anyway.

Banned Countries

FundedBull does not serve residents of 22 countries:

Pakistan, Russia, Cuba, Sudan, Somalia, Iran, Lebanon, Syria, Libya, Vietnam, North Korea, Belarus, Myanmar, Central African Republic, Democratic Republic of the Congo, Ethiopia, Hong Kong, Iraq, Nicaragua, South Sudan, Venezuela, Yemen.

If you're from any of these places, you cannot purchase a challenge. This is common. Most prop firms have similar restrictions, usually driven by payment processor requirements and sanctions compliance.

Payouts: What Traders Actually Report

FundedBull's payout structure is straightforward. First payout after 14 days in the funded stage. After that, every 7 days.

Payouts are processed exclusively via cryptocurrency. No bank wire, no PayPal, no credit card withdrawals.

The Trustpilot reviews tell a mixed story.

Yusuf Ajak, a 5-star reviewer, says: "First payout is 14 days and when I request for withdrawal, I received my payout within 8 hours although they said it'll be processed within 24-48 hours." That's from November 2024. Fast payout, good experience.

Raul, another 5-star review: "Solid choice of instruments, fast withdrawal and friendly customer support." September 2024.

Then there's Martin Gerza's 1-star review from September 2025:

"This is a scamming website that does make u pay and hoping you will fail the challenge. Once you pass their challange they freeze your account and there is no way you can talk to somebody as they do not have any customer service, all their emails are fake and not valid."

That's a serious accusation. Account frozen after passing. No support response. Emails bouncing.

That single review sits at the top of Trustpilot's recent timeline. No firm reply. No public dispute.

The Trustpilot score is 3.6 with 3.5 stars from 15 reviews. 12 of those are 5-star. 2 are 1-star. 1 is 4-star. The distribution looks suspicious. A prop firm with 12 five-star reviews and zero two-star or three-star reviews is unusual. Real review distributions usually spread more naturally.

Some of the 5-star reviews read like they were written by people who barely traded the firm. "Just starting my challenge and so far I am good." "New firm but Small account indicates that Will go ahead." These are early-stage reviews from people who haven't experienced the payout process yet.

The Trustpilot history shows the score stabilized at 3.6 with 15 reviews from April 22 through May 19, 2026. No new reviews have been added in that month-long window. That could mean nothing. Or it could mean the firm stopped attracting new customers.

There is no payout proof on TheTrustedProp. No forum posts about FundedBull. No social media activity in the available data. For a firm that launched in July 2024, the absence of community chatter is notable.

The Firm Closure Question

This is the single most important question about FundedBull.

The backend data from TheTrustedProp shows "firm_closed": true. The status field also reads "active". These conflict. One says closed. One says active.

Which one is right?

The firm_closed flag is typically set manually by TheTrustedProp's team after investigation. The status field comes from the firm's own data feed or from the initial backend setup. Manual flags tend to be more reliable because they reflect human investigation.

But I cannot independently verify this. The firm's website at fundedbull.com may or may not be operational. The data doesn't include a scrape of the current homepage.

Here's what I know:

• The last detailed positive review was from November 2024 (Yusuf Ajak's payout)

• The last negative review was from September 2025 (Martin Gerza's scam claim)

• No Trustpilot reviews have been added since late 2025

• No forum activity. No social posts. No payout proof. No blog content.

• The Trustpilot score has been flat at 3.6 for over a month

This pattern fits a firm that has stopped actively operating or has significantly reduced operations. It could also fit a firm that simply stopped marketing. But the absence of recent payout data from a firm that supposedly offers weekly payouts is hard to explain.

If FundedBull is still operational, there should be traders receiving payouts and posting about them. There should be new challenges being purchased. There should be support tickets being resolved. None of that is visible in the available data.

Pros

Based on the actual data rather than copied marketing claims, here's what FundedBull does well:

Multiple challenge models. Having 1-step, 2-step, 3-step, and a lite option gives traders real choice. Most firms offer two or three. FundedBull offers four. That's genuinely useful.

Competitive pricing. The 2-step $100K at $496 is well-priced. The 1-step Lite at $189 for $50K is cheap. The pricing beats FTMO and is in line with FundedNext.

90% profit split on standard challenges. That's higher than the industry average. Most firms offer 75-85%. FTMO offers 80% on the first $10K, 90% after scaling. FundedBull offers 90% from the start.

Weekly payouts after the first 14 days. That's faster than monthly payout firms. The first payout wait is industry standard.

Balance-based drawdown on 2-step and 3-step. This is better for most traders than trailing drawdown. Fixed max loss is easier to manage.

No consistency rule. Some firms require proportional position sizing. FundedBull does not enforce this, based on available data. That gives traders more flexibility in how they reach the profit target.

Weekend and overnight holding allowed. Good for swing traders. Many firms restrict this.

Cons

Firm closure is likely. The firm_closed: true flag is the single most important data point in this entire review. Combined with the absence of recent activity, this suggests the firm may no longer be operating. If that's true, buying a challenge is throwing money away.

Crypto-only payouts. If you don't use crypto, you cannot get paid. This also adds friction. You need a wallet, you need to handle conversion, and you're exposed to crypto volatility between payout and conversion.

No instant funding. Every account requires passing a challenge. If you want to skip evaluations, this isn't the firm for you.

News trading restriction during challenges. The 5-minute window before and after news events is a restriction that can catch traders who don't check the economic calendar. It's not a full ban, but it's a rule that can get you breached if you're careless.

No scaling plan. If you pass a $50K account, you're stuck at $50K unless you buy another challenge. Some firms offer scaling based on performance. FundedBull does not.

EA trading is not allowed on standard challenges. The 1-step, 2-step, and 3-step prohibit EAs. Only the 1-step Lite allows them. That eliminates FundedBull for automated traders.

No cTrader on all accounts. The data shows four platforms listed but doesn't specify which accounts support which platforms. Some prop firms restrict platform choice by challenge type. If you specifically want cTrader, confirm availability before buying.

Support quality is unverified for disputes. The positive reviews mention responsive support. The negative review mentions frozen accounts and no support response. There's no way to know which experience is more common.

Who Should Consider FundedBull?

If the firm is still operational, it would suit:

• Manual forex traders who prefer 1-step or 2-step evaluations

• Traders who want 90% profit split without scaling requirements

• Swing traders who need weekend holding

• Traders comfortable with crypto payouts

• Traders who don't use EAs or copy trading

Who should avoid it:

• Anyone who needs fiat payouts

• Traders in banned countries

• Automated traders (EAs not allowed on standard challenges)

• Traders who want scaling plans

• Anyone concerned about firm closure risk

Where FundedBull Sits vs Competitors

I don't have direct comparator pricing from the MCP data, but here's where FundedBull fits based on industry knowledge:

Versus FTMO ($100K at $535, 2-step, 80% split, 10% target): FundedBull's 2-step is cheaper ($496) with a higher split (90%) and lower targets (8%/5%). FTMO has a longer track record and verified payout history. FundedBull has neither.

Versus FundedNext ($100K at $499, 1-step, 80% split): FundedBull's 1-step is slightly more expensive ($512) but pays 90% instead of 80%. FundedNext has been around since 2022 with consistent payouts.

Versus The5ers ($100K at $350 for the high-tech challenge, 2-step, 50% split, 10% target): FundedBull is more expensive but offers a much higher profit split.

The value proposition depends entirely on whether the firm pays. Cheap challenges with 90% split mean nothing if the firm shuts down before your first payout.

FAQ

Is FundedBull legit?

Based on available data, there is one verified payout report from November 2024 and one verified scam accusation from September 2025. The firm's operational status is unclear. TheTrustedProp's data flags the firm as closed. Traders should verify the current status on the firm's website before purchasing.

Does FundedBull pay?

At least one trader reported receiving a payout within 8 hours in November 2024. Another trader reported their account was frozen after passing in September 2025. There is no payout proof from 2026.

What platforms does FundedBull support?

DXTrade, cTrader, MatchTrader, and TradeLocker. No MT4 or MT5.

What is the profit split?

90% on standard challenges (1-step, 2-step, 3-step). 50% on the 1-step Lite.

How long does the first payout take?

14 days. Subsequent payouts are every 7 days. All payouts are in cryptocurrency.

Can I use Expert Advisors?

Not on standard challenges. EAs are allowed on the 1-step Lite only.

Is news trading allowed?

Yes, with a restriction. You cannot trade 5 minutes before or after major news events on challenge accounts.

What is the maximum account size?

$250,000 across all challenge types.

Does FundedBull have a scaling plan?

No.

What countries are banned?

22 countries including Pakistan, Russia, Iran, Hong Kong, and others. Full list in the review above.

Final Verdict

FundedBull launched with a solid product. The pricing is fair. The rules are reasonable. The 90% profit split and weekly payouts are attractive.

But the data suggests this firm may already be dead.

The firm_closed: true flag. The Trustpilot silence since late 2025. The absence of payout proof, forum activity, and social posts. The single scam complaint with no firm response.

I cannot recommend buying a challenge from FundedBull without independent verification that the firm is still operating and paying. If the website is still up, that doesn't mean payouts are flowing. I have seen prop firms keep their websites active for months after stopping payouts while founders exit.

What to do before buying:

• Visit fundedbull.com and confirm the site is operational

• Check their Discord for recent activity

• Search for recent payout proof on Trustpilot, Forex Peace Army, and Reddit

• Look for recent trader reviews elsewhere

• If you find evidence the firm is still active and paying, share it

If the firm is genuinely closed, this review serves as a record of what it offered. If it's still active, the lack of evidence needs to be addressed by the firm.

Either way, traders should treat FundedBull with extreme caution until reliable payout data from 2026 surfaces.

Trading challenges involve risk. Most traders do not pass evaluations. Always read the firm's latest rules before buying. This review is based on available information as of May 2026 and should not be taken as financial advice.

Have you traded with FundedBull? Write a review on TheTrustedProp to help other traders know what to expect. If you received a payout or had your account frozen, your experience matters.