Imagine if you could get a trading account full of cash and all you have to do is trade with that cash and take the profits? It gets even better, you’re given mentorship and full trading support.
How cool is that?
That’s the power of funded trader programs. They’re rare-to-find but once you come across them, you have a great opportunity to turn around your business.
And today, we’d like to talk about some of the best ones we could find out there. But first, here are some of the quick benefits associated with taking this approach.
- You don’t risk your own cash when trading
- A great opportunity to gain skills from mentors
- Access to institutional-grade software
Now that you have an idea what this entails, why don’t we provide you with a few more details and suggestions? Read on.
1. Earn 2 Trade
These guys will provide you with a 25K account for $150 a month (for a Gauntless Mini account). In fact, you can get up to 150K if you go for the $350 a month option.
If you’re still building your confidence as a trader, you might want to settle for the $150 option. Once you get this, trade strictly according to the mentorship provided to you and aim for $1750 and above within the first month.
That way, you’ll easily be able to upgrade your account to the $350 per month option without necessarily having to dig deeper into your pockets.
One more thing, if you achieve this feat, you’ll be given access proprietary trading partner account. At this point, you’ll enjoy access to:
- Beginner crash course which would otherwise cost $249
- Access to trading simulator
- Journalytix access
In general, we’d choose Earn 2 Trade over any other program out there thanks to its key features some of which include:
The program’s dashboard is quite straightforward and easy to use. You can access all the important sections with just one click. If lost, you simply need to tap on the help button and someone will be there to assist you.
You also get all the necessary charting tools you need. For instance, you get the freedom to choose between different chart types. You also get to choose between different indicators.
And lately, they’ve updated their charts such that you can get quick highlights about important dates e.g. US Election, Brexit, etc.
We believe this is a really important feature as it keeps you aware of news events and the likely market reaction.
We really love this feature as it makes it easy to keep track of performance and also monitor the strategy that works best for you. And on top of that, you can easily export this data to an MS Excel file for further analysis.
- Affordable tiers to choose from
- Good variety of tools
- Awesome customer support
- No free trial
2. TopStep Trader
Also known as TST, this program has been around since 2012. In fact, the company behind it was in 2017 ranked among America’s top 5,000 fastest growing companies by INC500. They ranked #1419.
The concept behind TST is pretty simple. Qualifying traders take advantage of the available capital to trade futures. Plus, they get to keep $5,000 in profits from the first month. They also get to keep 80% of the profits earned for the months that follow.
Being one of the best programs out there, you’d expect them to charge a premium for their services. Interestingly, they don’t do that. In fact, their cheapest tier goes for $150 per month which is well within the industry’s average.
If you sign up for an account with them today, they’ll provide you with a 14-day free trial complete with $150,000 capital (you won’t need to submit your credit card details for this).
The 14-day free trial period is a great opportunity for you to test drive the system without having to commit your hard-earned cash.
Some of the key features that serve as top highlights of this program to us include:
Ease of Use
The program is quite easy to use. In fact, you only need to complete 2 steps to become a fully-fledged trader. What’s more? They don’t pressure you at all. They give you all the time you need to reach your goals.
On top of that, once you become a fully-fledged trader, you can always re-write the rules of your account. You’ll, however, need to part with $99 for that.
In addition to the free-trial package that we’ve already talked about, this company provides you with 4 subscription options. You can opt for the cheapest one available at $150. What’s more? You can always get a discount for that if you look around.
Their priciest tier costs $300 per month and provides you with access to $150K capital with a weekly loss limit for $3,000.
Learning is a key part of succeeding as a trader. That said, the awesome guys at TST provide free education and performance coaching. This comprises daily live trading classes along with the advantage of watching the pros trade live.
And in case you’re looking for one-on-one mentorship, there’s always a coach on stand-by, in real-time to ensure that you make the most of every opportunity.
- Great customer support
- 14-day free trial
- Free, real-time coaching
- Traded products are high-risk ones
3. OneUp Trader
With a decade of experience, OneUp Trader stands out as one of the most reliable platforms to get a funded account. Indeed, one of the unique things about this program is that they promote independence by encouraging the use of different schools of thought in decision-making.
Another unique aspect of this platform is that the guys behind it place a lot of trust in their traders. Unlike other programs that require you to meet some unrealistic trading goals, this one provides a softer learning curve.
When you join OneUp, you’ll feel as if you’ve become part of a big family. And that, in our view, is quite important when you need to build your confidence.
What’s more, you get the freedom to choose how to share your profit. For instance, you can choose between a 50-50 profit-sharing method and an 80-20 one.
And the best part is that their tiers are quite cheap especially if you opt for the 50-50 arrangement. You’d get a 25K account at $95 per month if you select the 50% profit split arrangement.
Conversely, if you opt for the 80% option, you’d need to part with $125 per month for a 25K account.
Other awesome features that make OneUp worth being a part of include:
Choose Your Own Software
As we’ve already mentioned, this is one of the few platforms out there that encourage their traders to be as independent as possible. You won’t have to be limited to OneUp’s patented software! You’ll get the freedom to choose a software program that works best for you.
That said, the platform strongly recommends NinjaTrader as its go-to platform. But even then, you still can choose from more than 19 other alternatives provided.
Yet another major highlight of this system is that it provides you with a platform on which to share and collaborate. This comes in the form of a social dashboard that enables you to easily post your experiences and progress in the community.
This way, you can receive feedback or even accolades from other likeminded traders.
If you follow all the rules and succeed, the awesome guys will provide you with extra goodies. For instance, you’ll get a quick start bonus by keeping 100% of the first $5,000 you make on the platforms (for the 50-50 arrangement).
You’ll also get to keep 100% of your first 8K earnings when you opt for the 80% profit-sharing arrangement.
- Great user-experience
- Friendly priced tiers
- Lots of bonuses
- 14-day free trial
- No stats on the number of funded traders so far
- Too much freedom might leave one susceptible to rookie mistakes
4. Try Day Trading
At last! A program that solely focuses on forex trading. Most of the funded programs we’ve come across so far focus on equities and so you’d not make much out of them if you’re a dedicated FX trader.
Besides that, Try Day Trading is different from everyone else in that they don’t just allocate cash to you. Once you’re on board, they’ll take you through a 12-week free course.
This course is to ensure you’re all set for success once you start trading with real cash. To us, this is an important factor of success as it also helps you familiarize yourself with the company’s trading culture.
Try Day Trading has been around since 2008 and all along, they have continued to evolve. In fact, in 2016, they introduced a plan called the “Trader Executive” program which comprises of one-on-one training at the company’s offices in Lehi, Utah.
Other notable features of this funded program include:
Easy to Join
You only need to complete three steps to join this family. The first step is all about completing a mandatory training session on day trading. The second one is all about one-on-one coaching which as we’ve mentioned happens in their Utah office.
Upon graduation, the company will provide you with a fully funded trading account. It’s that simple.
This is the main highlight of the program. Indeed, the good guys from Utah seem to focus a lot on making you a great trader first instead of just allocating you the money and leaving you to figure out everything else on your own.
You know, forex trading is just like athletics. Ever heard the story of Usain Bolt who after changing coaches went from zero to hero? That’s precisely the philosophy behind Trydaytrading.
The guys behind this brand seem to have quite some experience in trading and training. We have come across quite a few positive reviews about them.
As we lined out, this is a company that places a premium on training. And indeed, no two forex coaches are exactly alike.
- Straightforward user-interface
- Quality forex trading training
- Awesome customer support
- Pricey subscription cost
- Products could have been better explained
As you can see, the free money provided in different funded programs isn’t really free. There always some strings attached. It’s, therefore, upon you to find the platform with the most favorable terms for you.
Hopefully, the reviews provided above will provide you with the inspiration you need to make that choice.