Funded Academy ReviewRaffaele
Funded Academy Review
Updated on: 2022-10-12
Proprietary trading is becoming an ever-growing lucrative market with experienced traders and new traders joining the market either on a full-time or part-time basis to make an income or gain experience in trading.
Many proprietary trading companies claim to offer their customers high-quality training and techniques in getting guaranteed results. These companies also offer their customers a set amount of capital to trade with and begin gaining profit.
One innovative company with these benefits is the company Funded Academy. This review will take a deeper look at what Funded Academy offer and whether its benefits are suitable for day traders in today’s market.
What is Funded Academy?
Funded Academy is a prop company based in Sydney, Australia, and was set up in 2021.
Funded academy claim to bring a revolutionary perspective to the overpopulated proprietary business by wanting to make the environment for prop traders more competitive and allow traders to get the best funding possible and grow their potential as traders in the field.
They claim to have paid out of $15,000 already and have over 150 members on discord and have acquired a Trustpilot rating of 4.4 which is very respectable for a new form proprietary company. (A side note, they seem to offer most of their communication and inquiries through their discord channel which you can contact here for more information).
Funded academy claim in their mission statement that they run their business from the perspective of the trader and want to offer their traders the very best opportunity to make proprietary trading their full-time living and impact the trading industry as a whole. However, they don’t exactly give great details about how they intend to do this and how what they offer is vastly revolutionary from other companies out there.
On their website, they claim that they have six main key values which drive their company which include; innovation, excellence, passion, accessibility, teamwork, and ownership. Despite being confident and exciting buzz words, they don’t exactly go into further detail about what they mean by these values and how they bring these values into practice in their company.
What types of accounts does Funded Academy offer?
The Funded aAcademy offers two main accounts: the evaluation account and the funded account.
The evaluation account, it is assumed, is the account that the trader will gain when they first enter the company and are given to demo their trades and prove their skills. The benefits of this account are; a 10% profit target, unlimited duration of use, 5% drawdown, no minimal trading days, a 1:10 leverage, and 4% daily drawdown. These are all pretty standards for an evaluation account but the unlimited duration and no minimum trading days can be an enticing benefit for new traders, which competitors in this market don’t often offer.
The funded account also offers some great benefits which can be very enticing for traders who pass their probation period and become more settled into the company. The funded account offers the traders; a 70% profit split, infinite duration, a 5%+ total drawdown, a 4% drawdown, and a 1:10 leverage. The biggest benefit of this account is the 70% profit split which is a 60% raise from the percentage offered in the evaluation account. However, most of the benefits of these accounts remain the same, making the profit split the only noticeable incentive to aim for a funded account.
Funded Academy offer six different challenges for its customers with the chance of gaining capital of either; $25,000, $50,000, $100,000, $250,000, $500,000 or $1,000,000. Each of these chances of getting capital comes with a price tag varying from $200 for the $25,000 capital, and up to $7100 for the $1,000,000 capital. For amateurs these are hefty price tags, however, for more experienced traders these seem like very reasonable start prices and if your challenge to gain profit from that capital is successful – the trader will make back that investment quickly.
What makes Funded Academy different from other prop companies in this market?
Funded academy doesn’t give a lot of detail on their website on how exactly they are different from other prop companies in this market but they do offer some guidelines on what makes their company stand out from others. Here is what they claim:
- No time constraints – there is no time constraints on how long it takes to pass a challenge, claiming that participants can take from 10 minutes to 500 days. This is a great benefit as most prop companies offer between 30-90 days to complete their challenges and it can become a high-pressure environment to show significant rewards in that time frame. This feature gives traders the space and time to craft their skills and techniques and make greater profits at their speed.
- No trading restrictions – they accept all types of trading styles and don’t worry too much about how the trader trades, as long as they make a profit. This sparks a great contrast to other prop trading firms who insist their traders used a specific trading plan or style, often one created by the prop trading company themselves. Funded Academy allows the traders to find their way of trading which suits them best which is great for experienced traders who know their style but could be problematic for amateur traders who have fewer ideas about how to trade and needed guidance on cultivating a style of trading.
- Locked in drawdown – the funded accounts are claimed to have a feature that locks in your stop-out equity on the start balance. This is a great feature for creating more drawdown allowance on the profits made and is not a common feature used by other companies in this field.
- Live funds, no demos – Funded Academy claim to give their clients live funds from day one which lets the traders create profit from their very first day. This is great for experienced traders who know what they are doing but could be risky for new traders who have less experience in the field. This is also very different from other trading platforms which require their traders to go through a 30-60 day probation period proving their skills and showing gains in their profits, slowing them down from actually making profits early on in their trading. This is a great feature to get traders straight into the action quickly and accumulate profit but will require experience and pre-acquired trading skills.
- Unlimited accounts – Funded Academy offers its clients the opportunity to purchase and partake in as many challenges as they wish to grow their capital and in turn their profit. This is a great feature for experienced traders who want to accumulate vast profits quickly and have the skills to do so. Many other propriety trading firms only offer one challenge at a time and require the traders to have completed that challenge but compete in another. Funded Academy’s allowance of having many accounts at one time is beneficial for creating larger sums of profit but will need more time, dedication, and skill to be successful.
- EA Usage – they don’t make this explicitly clear but it seems they reward their traders who can create an automated or semi-automated trading strategy through EA usage. However, they don’t say what the reward is or how exactly this works.
- Copier Usage – Funded Academy allow users to connect their accounts with other firms using this tool which could be very useful for traders using several platforms at once. This is a very unique feature for Funded Academy as many trading platforms wish for their clients to use their platforms alone but allowing users to link up their accounts, allows experienced traders to accumulate greater profit, as well as, promotes a very unique feature for Funded Academy which will boost its reputation and profile in this market.
Many propriety trading companies offer training and skill mentorship to their clients as a means to encourage more amateur traders to use their site, build their skills, become successful and promote the site as a mentoring opportunity for new traders.
However, it appears that this trading firm is aimed to be used by more experienced traders who already have experience trading and want a fast way to gain profit without spending lots of time, money, and effort on demo accounts. With this in mind, Funded Academy doesn’t seem to offer any professional training or courses with particular strategies for gaining profit, they seem to encourage their traders to already know their strategies and techniques and to use their knowledge with their firm and their capital.
However, Funded Academy does have a very detailed FAQ column on their website where they give greater details on certain trading terms and how different rules of their firm work and can be applied by their users. The full FAQ for Funded Academy is available here. The lack of professional training could be a big turn-off for many amateur traders wanting to enter the field but also could be a drawback for Funded Academy against their competitors as many of their competitors in this field offer this service. Alongside this, many traders join firms such as Funded Academy for professional development purposes and want to learn and grow their skills, so this could be a disadvantage for experienced traders joining this firm.
Funded Academy seems like a great firm for experienced traders to gain access to capital at relatively low prices and start making profits. The firm actively encourages its traders to use their techniques and skills to build profit and capital for future trade. Funded Academy offers great benefits which other competing firms don’t offer, such as; the live funds with no demo features, as well as, the locked-in drawdown to maximize the traders’ profits and experiences.
They do offer large sums of capital to trade with and very lucrative challenges which could make the traders substantial profits if they know what they are doing. However, there is a lack of training available with Funded Academy and although this would be a great site for more experienced traders, likely, this would not be suitable for more amateur day traders who require more guidance and tutoring on the subject.
This is a very new company, having only properly come into the business in 2021. However, it’s already seeing a lot of traders using its firm and creating substantial profit. Funded Academy’s website does seem to lack more intrinsic details about its goals as a business and within its mission statement, which could stop potential clients from investing their time and money with them.
Overall, Funded Academy seems like a great company with great potential to become a real competitor in the market of prop trading. Clients may need a little experience to work with them but if they have experience in the field and know how to trade, Funded Academy can be a quick access route to acquiring large capital for trading and potentially creating large-sum profit.
For more information about Funded Academy and the services they offer you can visit its official website here.