Is Funded Trading Plus a Genuine Proprietary Trading Establishment?
Funded Trading Plus operates as a proprietary trading entity. Prospective traders are required to submit a reimbursable fee to access the company’s capital for trading. Depending on the specific plan selected, available amounts range between $5,000 and $200,000.
Given that prop firms aren’t mandated to be regulated, we took it upon ourselves to verify the legitimacy of Funded Trading Plus. Records indicate that the firm’s legal entity is FTP London Limited, officially incorporated on the 2nd of November 2021 in the UK. This is a promising sign.
Furthermore, both the demonstration account and actual trading activities are facilitated via EightCap, a broker specializing in Forex and CFDs and overseen by regulatory bodies such as the FCA, ASIC, and the SCB in the Bahamas. Nevertheless, it’s crucial to understand that while EightCap is regulated, your primary association remains with Funded Trading Plus as their client.
Funded Trading Plus Feedback – Insights from the Trading Community
It’s noteworthy that the testimonials for Funded Trading Plus on Trustpilot are largely positive. As of our last check, there were 1,503 feedback submissions, and the firm had an outstanding rating. A mere 3% of the comments skewed negative, which is commendable.
Some of the criticisms revolve around traders who didn’t clear the evaluation phase and were subsequently charged a fee. However, if unsuccessful in your attempt, Funded Trading Plus offers a voucher granting a particular discount for a subsequent trial.
Ultimately, it’s your call to gauge the potential profitability with this firm.
Understanding the Firm’s Modus Operandi
Upon signing up, you’re steered towards an Evaluation account. This account serves as a proving ground for traders to showcase their prowess in hopes of accessing the company’s funds. Depending on your chosen account type, the evaluation comprises varied phases.
Clear these, and you’ll be eligible for a profit-sharing arrangement ranging from 70/30 to 90/10. Adherence to specific guidelines is essential, like maintaining a minimum number of trading days, meeting profit objectives, and ensuring daily drawdowns remain within set boundaries. Additionally, an enrollment fee is applicable.
How Does Funded Trading Plus Build Its Client Base?
Leveraging a robust digital footprint, Funded Trading Plus attracts clientele globally. Data insights suggest their primary customer base hails from:
- US
- UK
- India
- Canada
- South Africa
Records indicate that the Funded Trading Plus online portal was initiated in January 2021, with the official business entity being recognized later in November of that year.
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