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Funded Engineer Review
Funded Engineer is an evaluation prop trading firm that provides various programs that enable you to engage in simulated trading. This way, you can learn how to trade without risking your personal funds.
Funded Engineer Review (35% discount) Details:
Funded Engineer offers monthly promotional discounts for the trader program and currently has a 35% discount on the Superior, Turbo, and Lite challenge accounts.
- Quick onboarding process with instant account access upon payment.
- No time limits or strict deadlines to meet.
- Offers a scaling program.
- No minimum trading days.
- Fast payout process of less than 48 hours.
- Weekend trading enabled.
- Great reviews online.
- VIP loyalty program.
- Provides drawdown blocker tools for additional risk management.
- Offers auto-close trading.
- Does not offer a free trial to test the platform.
- Is still not available in countries like the US and UAE.
What is a Funded Engineer?
Funded Engineer uses simulated trading to equip you with the skills for successful trading. You don’t need to risk any money to trade on the platform. Using simulated accounts, you get a secure trading environment and earn rewards based on profits generated from the simulated trades.
Who is Funded Engineer For?
Funded Engineer offers services that benefit both seasoned funded traders and beginners. You don’t require any expertise to use the platform.
Who is the CEO of Funded Engineer?
Funded Engineer has two CEOs -Tristian Talbot and Harri Sawicki. Both are seasoned traders with experience in the markets. Their mission is to create a thriving community of traders through Funded Engineer by providing them with the necessary tools, skills, and support to become successful long-term traders.
Funding Program Options
Funded Engineer has various funding programs:
- Turbo Challenge: A one-phase challenge designed for seasoned traders who want a quick way to get a Simulated funded account.
- Standard Challenge: Has a two-phase challenge with a profit target of 8%, a leverage of 1:30, and a drawdown limit of 10%. This is for traders who can demonstrate consistency over time.
- Superior Challenge: Is designed for traders who prefer a fast-paced financial environment. It requires a 10% profit target, a drawdown of 10%, and a 1:100 trading leverage.
- Superior Lite Challenge: A two-phase evaluation challenge tailored for traders looking for a gradual progression. It has an 8% profit target, an 8% overall drawdown limit, and a 1:100 trading leverage.
The funding programs let you keep up to 90% of any profits made, depending on your trading profitability and consistency.
Each program has a set of rules and guidelines, and following these rules will help you fine-tune your trading strategies and give you a deeper understanding of the market.
What makes Funded Engineer different from other prop firms?
Funded Engineer has several features that set it apart from other trading firms.
- All trading is simulated/virtual so there is no risk to personal funds.
- Replicating the same latency and market conditions.
- Excellent profit share of 80% with the possibility to advance to 90%.
- A one-phase evaluation challenge (Turbo) to quickly gain a Simulated funded account.
- A scaling plan to help you increase your account balance by up to 40% or $2 million.
- Trading bots & news trading are allowed.
Is getting Funded Engineer’s capital realistic?
The Turbo challenge has one phase while the others have two evaluation phases.
Phase 1: Funded Engineer tests your trading skills by setting a profit target and you must follow the rules in each account.
Phase 2: This is the verification phase and it completes your evaluation process. It has lower profit targets.
Once you successfully finish your evaluation, you’ll get a funded account. The funded accounts have no profit targets but you can qualify for the scaling plan when you maintain profitability.
Each challenge program on Funded Engineer has 7 account sizes: $6K, $10K,$25K, $50K, $100K, $200K, and $300k.
| Program | Turbo | Standard | Superior | Superior Lite |
|---|---|---|---|---|
| Account Fee | $39, $79, $149, $229, $379, $699, $1099 | $59, $129, $239$349, $549, $999$1499 | $49, $89, $169$249, $409, $779$1149 | $49, $79, $149, $229, $379, $699$1099 |
| Profit Target | 10% Funded Account-No Target | Phase 1- 8% Phase 2- 5% Funded Account-No Target | Phase 1 = 10% Phase 2 = 5% Funded Account-No Target | Phase 1 = 8%Phase 2 = 5% Funded Account-No Target |
| Max Daily Loss | 4% | 5% | 5% | 4% |
| Max Overall Loss | 6% | 10% | 10% | 8% |
| Leverage | 1:100 | 1:30 | 1:100 | 1:100 |
Payment options ( Deposit and withdrawal)
Funded Engineer has two payment options:
- Credit/Bank Cards: Payments are processed through Checkout.com.
- Coinbase: For processing cryptocurrency payments.
Funded accounts receive payouts after 14 days if the account is in profit and has no positions open. When you submit a withdrawal, you can’t trade until the withdrawal is processed.
Payment Proof
Funded Engineer has mostly positive feedback out of over 1,200 reviews. For example, it has a rating of 4.5 on Trustpilot, with most users calling it reliable and trustworthy, and praising its customer support.
Which broker does Funded Engineer use?
Funded Engineer uses Purple Trading Seychelles, as its brokerage partner. Purple Trading is licensed and regulated by CySec and provides traders with its trading resources, access to different trading platforms, and automatic indicators that plot support and resistance lines.
Trading Instruments
With Funded Engineer you can trade:
- Forex pairs
- Commodities
- Indices
- Cryptocurrencies.
Trading Fees
Besides the initial one-time evaluation fee that depends on the account chosen, Funded Engineer also has purchased add-ons.
- Drawdown: 30% extra for a 6% daily drawdown and a 12% maximum drawdown.
- Earlier payout times: 30% extra fee for a 7-day payout
- Higher profit splits: An additional 20% fee for a 90% profit split.
These add-ons are non-refundable.
Education & Support for Traders
- Funded Engineer offers 24/7 support to their traders, giving quick responses to help them succeed in their trades. You can use the chat box or email them at livesupport@fundedengineer.com
- The platform itself is a great educational resource that will help you become a better trader.
Social Media Statistics
Funded Engineer is available on
- Instagram: @fundedengineer with 27.4K followers
- Facebook: As Funded Engineer with 4.3K followers
- X: Funded Engineer with 57.3K Followers
- Discord: Funded Engineer with over 40K members.
Verdict
The funding programs at Funded Engineer are a great way to hone your trading skills. With simulated accounts that mimic the current market environment, you will get to see what it is like to trade with a prop firm. You get a high-profit split, scaling opportunities, flexible challenges, and different account sizes, and use the platform as a gateway to live trading accounts.
FAQ
The maximum daily drawdown rules depend on the program you have. For the Turbo challenge the drawdown trails. For the Standard and Superior challenges, it is 5%, and for Superior Lite 4%.
The daily maximum loss depends on the program you have. It stands at 4% for Turbo and Superior Lite and 5% for Superior and Standard challenges.
The profit target in Turbo stands at 10%. Phase 1 profit targets stand at 8% for Superior Lite and Standard, and 10% for Superior challenge. Phase 2 profit targets remain at 5% for all challenges.
There are no minimum or maximum trading days.
Funded Engineer makes payouts after 14 days.
Yes, the fee is refundable. It is initiated along with the first payout and depends on the coupon code inserted while purchasing the challenge.
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