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Funded Engineer is a prop firm based in the United Kingdom that offers trading challenges and instant funding options. The company was registered on December 15, 2022. Traders have the opportunity to trade Forex, Crypto, and CFDs on the MT5 trading platform.
Accepted payment methods at Funded Engineer include crypto and cards, while withdrawals can be made through Deel and crypto. The firm works with Purple Trading as their chosen broker.
Funded Engineer provides two types of challenges: One Phase Challenge and Two Phase Challenge. In the One Phase Challenge, there is no minimum requirement for the number of trading days. Traders are expected to achieve a profit target of 10%, and the specific monetary value corresponding to this target may vary based on individual account sizes. Traders must ensure that their maximum loss does not exceed 6% of the trading account’s value, and daily losses should be kept below 4% of the account’s value.
Funding capital for the One Phase Challenge ranges from $10,000 to $500,000. In the Two Phase Challenge, Phase 1 requires traders to achieve a profit target of 8% without a specific time limit. The maximum daily loss should not exceed 5% of the trading account’s value, and the overall loss should be kept within 10% of the account’s value. There is no minimum requirement for the number of trading days in Phase 1. In Phase 2, traders have a profit target of 5% with similar requirements for maximum daily loss and overall loss. The trading leverage allowed in the Two Phase Challenge is 1:50.
Instant funding is also available at Funded Engineer. The maximum allocation is $500,000, and after scaling, it can reach $1,500,000. Capital increases occur every three months, starting from the trader’s first trade date. Traders must achieve a net profit of at least 10% over a three-month period, process at least three withdrawals within the same period, and have an account balance higher than the initial balance to qualify for a capital increase. The increase percentage is 25% of the initial starting balance of the purchased challenge account. Traders will be contacted by the Funded Engineer team within 24 hours via email if they meet the requirements.
Trading permissions and limitations at Funded Engineer include no allowance for HFT, copy trading is allowed, hedging is allowed, and EA usage is allowed.
Customer support is available through Discord, live chat, and Twitter. The firm does not offer free trials, and traders from Russia are restricted. Funded Engineer organizes competitions, and free retries are not provided.
For traders who wish to test the platform, a demo account is available. The demo credentials for MT4 on the Purple Trading server are as follows:
Server: PurpleTradingSC-Demo02 MT4
ID: 13104685
Password: ENGINEER2023
For more detailed information and specific terms and conditions regarding the challenges, instant funding options, and demo account usage, it is recommended to contact Funded Engineer directly.
