Welcome to the Funded-trader.com review. The reason we are analyzing this website is because it is offering a funded trader program for the cost of $150 to $165 per month. To become a funded trader at Funded-Trader.com, you have to pay the monthly subscription and meet certain conditions which include making $200 per day for 15 days.
Funded-Trader is an entity owned and operated by Michael Patak who claims to be a former Dow Futures floor trader. Mr. Patak has not revealed this information on his LinkedIn profile(at the time of writing this review) and is therefore very difficult to establish the truth here.
A quick search on the web reveals that Mr. Patak is the founder of TopstepTrader, a platform that was founded in June 2010 and has been funding Forex traders since then. At least this is the claim according to the various profiles that we have looked at.
Additionally, this funded trader program is also running a subsidiary called OneUpTrader and several similar operations that center their services around funded trader programs.
At the moment, we only know of 4 entities under the management of Mr. Patak . These include Funded-Trader, OneUpTrader (is linked to MES Capital since June 2017), TopStepTrader (we suspect this is also related to TopStepFX) and Savius, LLC.
👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.
The focus of this review is on Funded-Trader website as well as the program it is claiming to offer.
Is this the easiest way to make above average income? Not really. But should you join?
On the sales page of the site, you will see the announcement that you can get started with trading without risking your capital.
Nothing can be further from the truth. You are not risking indeed. But remember that Funded-Trader wants you to pay up to $165 per month to demo-trade under their trading combine challenge.
There are 4 different types of challenges with various rules of participation. One radical rule that has been instituted by Funded-Trader.com is that if you hit or exceed the daily loss limit which is up to $1,250, your account will be canceled with no chance of ever recovering it.
Remember that if a trader wants to join Funded-Trader program, they must pay an upfront subscription as stated above. So this simply means that all those newbies who want to try their luck can pay for a demo and then lose their money with no chance of recouping the subscription fees.
You can bet that 90% of those who join Funded-Trade.com and similar programs always end up losing. Mr. Michael Patak gladly makes an income from theses losses.
Having said that, let’s take a look at each of the challenges offered and what a trader must do in order to earn a fully funded Forex trading account.This Forex Trading masterclass can change your life.
We don’t understand, but Funded Trader is promoting 3 different types of trading accounts with unique challenges… all accounts representing the different subsidiary of the brand.
These include OneUpTrader, Savius and TopStepTrader. Details of the plans are are follows:
In the second phase of the trading combine, rules change slightly. To qualify for Top Step Trader and Savius, a trader must demonstrate their skill for 10 days and 30 days respectively.
If you fail the combine at some point, a reset fee of between $99 and $100 applies but with the exception of Savius challenge which has zero combine reset fees.
Well, Funded Trader isn’t a scam. But I can tell you for sure that it can feel like a ripoff if you lack sufficient skill to trade the Forex market.
We wouldn’t advice anyone to go for this funded trader program if they can’t successfully trade a Forex demo account to consistent profits.
Secondly, I do not understand why you should pay a monthly subscription fees to trade on a simulator.
You could as well practice your skill on a free Forex demo account and once you have successfully demonstrated some level of competence, you can invest the subscription fees into your starting capital.
The idea is that you could start with the $150 as your live trading balance and build it slowly. If you want trading tips, feel free to browse my lessons on Forex trading. For the head-start, just use this post as your reference.
In this blog, there are many articles that talk about how to preserve your capital and optimize your trading experience for success. For additional coaching, please invest in this masterclass because it will change your life and make you trade like a professional soon enough.
As we conclude this Funded Trader review, I’d like to remind you of the fact that Funded-Trader wins while you lose.
Unless you are an experienced trader, which we don’t think most readers of this review are, there is generally no need to donate your $150 only to be blocked from the platform a few days after sign up.
You will feel wasted. Again, If you are an experienced trader, I do not see how Funded-Trader can help you in the long run because you own the skill, and you can start with whatever little you have to build wealth. You are not under anyone’s mercy.
We understand that the advantage of approaching Funded-Trader is the amount of leverage they could give you.
But also remember that very few people pass the trading combine. If you are among the many traders who fail it, rest assured that you will lose your subscription, and that will be end of the story.
We have already given my advice and point of view concerning this trading combine type of operation. The decision is yours to make. But if you want me to make things easier for you, my advice would be the following: Invest in a professional Forex and Crypto Trading tool. You pay once and you get a lifetime skill without paying extra in monthly fees.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More