Funded-trader is a platform that will quickly make you lose money if you lack trading skills. The platform is ideal for experienced traders who have the skills to make $200 per day for 15 days. To become a member of this platform, one has to pay a monthly subscription fee and meet set conditions. One of the main reasons for the Funded Trader review is the comments we see from some trading forums. We decided to straighten things out and explain how this forex platform works.
The platform funds users and takes a percentage of their income. It sounds too good to be accurate, but in this case, the platform does fund traders. Before you start up the signup process, there are a few issues to note. The vendor will not just fund anyone; you have to prove yourself worthy of the investment. And so, there are tests that one must pass to get the full funding. It all sounds hectic, but the investor has to make sure that the user is skilled enough.
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Funded-trader is at fault for having a poorly designed website. The vendor has plastered a lot of information on all the pages. There is poor visibility as the information is all over. To fully understand the platform, one has to read and understand all pages. It takes a lot of time to cover the website, and this is a daunting task. For those who are familiar with funded accounts, the process is a bit easier. Another issue is their social media posts, which rarely get updated with any information.
The homepage has one Rafaelle Castello, who seems to be the founder of this platform. We checked his LinkedIn profile and noticed the vendor uses the same image. He claimed to be the founder of this platform and was also a director with Gooder Ltd. From our experience, such an experienced user would not use the same image on their profile and homepage. It could mean that the platform is operated by anonymous people who are using one embodiment. There are no other images of Rafaelle apart from the ones we see on LinkedIn and his site.
Another fascinating feature that we must explore is the lack of chatter about this platform. The trading community is silent on this platform, which is not ideally a bad thing. It could mean that the traders did not welcome the trader funding project with open arms. We still have not heard from anyone who has benefited from this platform. All we see ate social media posts and videos that promote the use of this service. There is no third party that has come out and shared their experience with the platform.
On their discount’s page, we learn that there is an Earn2Trade phase. We immediately notice that there is a 50 percent discount code for all traders. Other offers include the Gauntlet Mini 50K challenge that is going for $99. There’s a 40 percent discount on the Gauntlet Mini 20K challenge going for $90. At the end of the year, members get a 10 percent discount on all difficulties. What we noticed with these discounts is that there is an expiry period that comes with each deal.
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The platform is three years old as their start update date backs to 5th October 2010. What is weird is that the developer is American, and the site uses servers located in the Netherlands. One would expect that the vendor would want to stay close to their servers. From this observation, we can conclude that the developer is mainly targeting European investors. And this could be the reason why most traders don’t know that the platform exists. There have been two changes to their IP address for the past three years. It could mean the developer was selling other forex products under a different name.
We found out that the platform is also home to other products. Some of these products include retail fade offers. Once you click on to their trading room page, information on the available features can be obtained. Features include DAX, FTSE, and Gold trade products, which are available on demand. There are also zone layers and indicators for sierra charts. The vendor claims to offer one-on-one mentorship with trading courses available. There’s no information on how the training is handled, but we believe there are video tutorials.
Funded-trader is sadly not able to prove that authorities have regulated them. We had a feeling that such a platform with their sketchy developer would not be validated. The platform poses a massive problem for users who sign up and deposit funds. Once you purchase the funding project, there is no safety of funds. The vendor does not offer any money-back features once users fail the test. Even if you fail to take the test, the vendor will not provide a chargeback.
The problem with such platforms is the overall outcome. There are more risks involved with the platform as compared to the expected income. Without a valid license from regulators, there is no one to protect the consumer. We reached out to various online regulators to see whether the platform is regulated. Most regulators didn’t even recognize the platform as it has been operating under the radar. It is best to use products that are under regulation or seem to have applied for a permit.
Funded-trader is furnishing users with a system where traders have to build capital from $150. We don’t understand why investors have to pay a subscription fee of $199 per month. What happens if, by the third day, a trader makes $190 instead of $200? According to the rules, the trader must start again, which means making another deposit. It is not worth the time or effort as there are other trading tools to use. It seems that the vendor wants experienced traders to make money for him at a massive cost.
When it comes to contacting the vendor, the platform has several chat rooms. One can use social media channels such as Facebook, Telegram, Whatsapp, among others. There is no direct way of making contact with the vendor. It means that users will not be able to call the vendor as there is no listed phone number. There is no live chat support, either, which is a bit problematic. One would expect the vendor to be available 24/7 and help the traders on duty. It is another reason why we recommend other trading tools apart from a fully-funded account.
The vendor also fails to provide results of successful trades from users. Rafaelle should have posted trading results on FX Blue and myfxbook. Without the trading results, it is easy to believe the users are just trading on a simulation. These users could be paying the vendor for a demo account. The platform could, in the real sense, be funding users with a demo account, which is disturbing. With such traders on the loose, it is best to post results to avoid such criticism from reviewers.
After thinking it through, we have to blacklist the use of this platform. Funded-trader is a scam as the platform does not offer any proof of their trading results. The vendor is nowhere to be seen, and it seems this is a trading demo account sold to investors.
We won’t be recommending the platform due to various reasons. The vendor is anonymous, and there are no trading results.
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