Company Information
- Company Name: Mega Funded
- Company Legal Name: Prop Trade Tech Pty Ltd
- Company Registration No.: ABN 71 661 045 950
- Operating Since: April 11, 2024
- CEO Name: Undisclosed
Challenge Details
Mega Funded provides two types of challenges for traders: 1-Phase Challenge and 2-Phase Challenge. Here are the details :-
1-Phase Challenge Details
Pricing
- $15,000 Account: $140
- $25,000 Account: $190
- $50,000 Account: $290
- $100,000 Account: $489
- $200,000 Account: $900
Rules
- Profit Target: 10%
- Total Loss: 8%
- Daily Loss: 4%
- Profit Share: 80%
- Drawdown Type: Trailing Drawdown
- Time Limit: Unlimited
- Leverage: 1:50
- Max Lot Size: No limit
- Payout Frequency: Every 14 Days
- Allows Copy Trading: Yes
- Minimum Trading Days: None
2-Phase Challenge Details
Pricing
- $5,000 Account: $36
- $15,000 Account: $100
- $25,000 Account: $150
- $50,000 Account: $260
- $100,000 Account: $440
- $200,000 Account: $820
Rules
- Profit Target (Phase 1): 10%
- Profit Target (Phase 2): 5%
- Total Loss: 10%
- Daily Loss: 5%
- Profit Share: 80%
- Drawdown Type: Static Drawdown
- Time Limit: Unlimited
- Leverage: 1:100
- Max Lot Size: No limit
- Payout Frequency: Every 14 Days
- Allows Copy Trading: Yes
- Minimum Trading Days: None
Scaling Plan
Mega Funded offers a fairly easy Scaling Plan with which traders can increase their capital to up to $2 million.
Eligibility for Scaling Up :-
To be eligible, traders must:
- Receive four consecutive payouts.
- Traders will have to end their last trading cycle in profit.
Once eligible, traders can receive a 20% monthly increase in their account balance.
Spreads and News Trading Rules
Spreads
Mega Funded has partnered with Eightcap to provide competitive spreads and low commissions. Traders can check out Eightcap’s offerings here.
News Trading Rules
News trading is allowed by Mega Funded but trader are not allowed to open or close any position 5 minutes before and 5 minutes after a high impact news release. Any profits generated within this 10 minutes window will be removed and be considered a "Soft Breach."
Other Important Rules
Daily Drawdown Calculation
Mega Funded calculates daily drawdown based on balance or equity whichever is higher at the end of the each day, The drawdown type used here is Equity Based Drawdown therefore the drawdown limit will keep increasing or decreasing based on the profit and loss in the account.
Countries Banned from Purchasing
Mega Funded does not allow traders from these countries to join their funding programs:
- Cuba
- Islamic Republic of Iran
- North Korea
- Myanmar
- Russian Federation
- Somalia
- Syrian Arab Republic
- Ukraine
Prohibited Trading Strategies
Mega Funded has not mentioned any information related to prohibited trading strategies on their website.
Payout Methods
Mega Funded has not mentioned any information related to payout methods on their website.
Trading Commissions
Mega Funded has partnered with Eightcap to offer industry-leading commissions and spreads. For more information, visit Eightcap Trading Conditions.
IP Rule
Mega Funded has not mentioned any information related to IP Address Rule on their website. We advice traders to trade using same device from which they are going to purchase the challenge account.
