20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.
Funded Academy Review 2024
Minimum
deposit:
deposit:
- $200
Trading platform:
- MT4
- MT5
Regulation:
- FCA
- ASIC
Minimum
deposit:
deposit:
- $200
Trading platform:
- MT4
- MT5
Trading features:
- Initial fee is nonrefundable
- no balance progression
- unlimited number of accounts is allowed
- minimal trading restrictions
- profit split is 70%
Leverage:
- From 1:10
Summary of Funded Academy Trading Company
Funded Academy is a prop trading firm with higher-than-average risk and the TU Overall Score of 4.47 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Funded Academy clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable partner with better conditions, as, according to reviews, many clients of this firm are not satisfied with the company’s work. Funded Academy ranks 35 among 41 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria and a test on how to open an account.
Funded Academy offers standard proprietary trading conditions. Its conceptual advantage is the minimum number of restrictions and a large choice of financial instruments. Various withdrawal options are available, including withdrawals in cryptocurrencies. However, the firm’s partners should remember that they can only trade through MT platforms, the initial fee is not refundable even if the challenge is successfully completed, and the withdrawal of profit is limited to once a month.
|
1
|
5.7
/10
|
|
|
|
2
|
5.28
/10
|
|
|
|
3
|
6.68
/10
|
|
Funded Academy provides funding with a prior evaluation stage to novice and experienced traders. The challenge has no time limit, but you need to make at least one trade within 30 days. The profit target during the test is 10%. As soon as traders reach this indicator, the prop (proprietary) funding firm opens for them a live Raw account with the EightCap broker. The raw spread account is suited for veteran traders who want stable, ultra-low spreads. A partner of the firm can trade currencies, cryptocurrencies, stocks, indices, and metals. Expert advisors, trading on the news, overnight trades, and trading on weekends are allowed. The only limitation is the size of the drawdown which is up to 5% for the total drawdown and up to 4% for the daily drawdown. Traders’ profit split is 70%. There is an initial fee that depends on the required balance. No subscription fee is charged by Funded Academy and the firm does not withhold any withdrawal fees.
| 💰 Account currency: | USD |
|---|---|
| 🚀 Minimum deposit: | $200 |
| ⚖️ Leverage: | From 1:10 |
| 💱 Spread: | No |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, indices, stocks, and metals |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with Funded Academy:
- Once traders complete the challenge, they have the opportunity to open an account with a balance ranging from $25,000 to $1,000,000;
- EightCap provides a wide range of financial instruments, which expands the possibilities of a trader;
- There are no restrictions on trading styles and strategies, a partner of a prop firm can even use advisors;
- All assets can be traded with leverage starting from 1:10;
- When trading on a live account, traders retain 70% of the net profit;
- The applied restrictions are loyal. For example, if a trader forgets to place a stop-loss order, there will be no penalties;
- Technical support on Discord responds quickly, also you can always chat with colleagues on this channel.
👎 Disadvantages of Funded Academy:
- Partners of the prop firm are unable to increase the amount of funds on the account that are available for trading;
- Funds can be withdrawn no more than once every 30 days. The application is submitted on an individual basis, its consideration can take some time;
- Trading is carried out on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, other trading platforms are not available.
Evaluation of the most influential parameters of Funded Academy
Table of Contents
Geographic Distribution of Funded Academy Traders
Popularity in
40%
US
31%
AU
23%
Others
User Satisfaction i
3 comments
Total score:
Share your experience
- Best
- Last
- Oldest
Beazekusclept
31 weeks ago
Jackielura
1 year ago
YorikMt
1 year ago
Expert Review of Funded Academy
Funded Academy is a prop trading firm established by Brooklyn Simmons and Jack Payne, professional traders and successful investors. This is important because many trading platforms are created by people far from trading, leading to rather unfavorable trading conditions. In the case of Funded Academy, it is immediately clear that the firm is designed for the maximum freedom of action for its partners. Among the available instruments are hedging, news trading, expert advisors, weekend trading, and rollover of trades, though some options are paid. There is no need for traders to achieve a profit target, and they do not need to be active for a certain number of days in a trading cycle. They trade at their own pace, and the Funded Academy, for its part, simply provides them with funding for trading.
Of course, the prop firm wants to protect itself. Therefore, there are drawdown restrictions, but they are quite loyal. The total drawdown is up to 5% and the daily drawdown is up to 4%. The firm also recommends always placing stop-loss orders. A position without a stop loss can be closed. However, the trader will not receive any penalties. An important advantage is that the EightCap broker acts as a liquidity provider for the prop firm. Due to this, the firm’s partners can trade a wide range of assets and get leverage from 1:10. Of course, leverage increases risk. But it also increases potential profits. Therefore, if you act wisely, following the rules of money management, the leverage can always be turned into an effective instrument.
Unfortunately, Funded Academy does not have a partnership program, nor does it hold promotions. The only bonuses that allow you to save on trading fees are the rebates from Traders Union (TU). Nevertheless, in general, the conditions of this prop firm are beneficial for traders of any level. Trading is carried out on the MT4 and MT5 platforms, which can be installed on mobile devices. According to the results of the tests, TU has not identified any serious flaws in the work of Funded Academy. Its technical support has also proved to be excellent. Funded Academy does not have a call center, so communication is possible only by email and on Discord. There is also no live chat, which is quite unusual for a prop trading firm. However, TU assessed the speed of the support response and its competence as high.
Dynamics of Funded Academy’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
Prop trading firms do not provide investment solutions, as they are focused on active trading. Partners cannot purchase dividend shares from them or invest in staking cryptocurrencies. However, sometimes such firms offer referral programs. The idea is that referrals who are invited to the platform by active partners bring them bonuses in the form of fixed payments or a share of the initial fee. This is not considered passive income, since to receive significant payments you need to communicate a lot on the internet or have a popular blog.
Important!
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Funded Academy does not offer a referral program for the following reason:
The referral program is an effective instrument for attracting new partners. But if at the moment the number of traders is sufficient and the firm understands that it is better not to attract more, it will not launch such programs. Traders Union does not know the exact number of Funded Academy partners, but there are thousands of traders globally, and every day the number of partners increases, presumably.
Trading Conditions for Funded Academy Users
The platform partner pays the initial fee during the registration process. The fee is non-refundable, even if the partner successfully completes the challenge. Traders can open several accounts, but they need to pay the initial fee and complete the challenge for each of them. The leverage depends on the selected options. Its minimum is 1:10. A trader does not have to use leverage. The website's technical support offers two communication channels, which are email and the firm's Discord channel. The second way is the most efficient, as managers are always online.
$200
Minimum
deposit
1:10
Leverage
24/7
Support
| 💻 Trading platform: | MT4 and MT5 |
|---|---|
| 📊 Accounts: | Single account type |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank transfers, bank cards, e-wallets, and crypto wallets |
| 🚀 Minimum deposit: | $200 |
| ⚖️ Leverage: | From 1:10 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Spread: | No |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, indices, stocks, and metals |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Not available |
| ⭐ Trading features: |
Initial fee is nonrefundable; no balance progression; unlimited number of accounts is allowed; minimal trading restrictions; profit split is 70% |
| 🎁 Contests and bonuses: | No |
Comparison of Funded Academy to other prop firms
| Funded Academy | Topstep | FTMO | Funded Trading Plus | True Forex Funds | The Trading Pit | |
| Trading platform |
MT4, MT5 | Deriv Trader, TSTrader, NinjaTrader, TradingView, Bookmap X-ray, Cunningham Trading Systems, DayTradr, InvestorRT, MotiveWave, MultiCharts, Rithmic R|TRADER Pro, Trade Navigator, Volfix.net | MetaTrader4, MetaTrader5, cTrader | MetaTrader4, MetaTrader5 | cTrader, MT4, MT5 | MetaTrader4, MetaTrader5, BOOKMAP, R Trader, QUANTOWER |
| Min deposit | $200 | $1 | $155 | $119 | $89 | $99 |
| Leverage |
From 1:1 to 1:10 |
From 1:1 to 1:100 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:1 |
From 1:1 to 1:30 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 0 points | From 0 points | From 0 points |
| Level of margin call / stop out |
No | 1% / 1% | 50% / 50% | No | No | No |
| Execution of orders | N/a | ECN | Instant Execution | Market Execution | N/a | No |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | No | No |
Prop firms’ comparative table by trading instruments
| Funded Academy | Topstep | FTMO | Funded Trading Plus | True Forex Funds | The Trading Pit | |
| Forex | Yes | No | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | No | Yes |
| Crypto | Yes | No | Yes | Yes | No | Yes |
| CFD | Yes | No | Yes | Yes | No | Yes |
| Indexes | Yes | No | Yes | Yes | No | Yes |
| Stock | Yes | Yes | Yes | No | No | Yes |
| ETF | No | No | No | No | No | No |
| Options | No | No | No | No | No | No |
Funded Academy Commissions & Fees
Information
Prop trading firms do not charge trading fees. At Funded Academy, traders pay the initial fee and give 30% of their profit to the platform. Funded Academy does not charge any fees, including withdrawal fees. The initial fee differs according to the balance and can be $200, $400, $725, $1,800, $3,550, or $7,100 (without additional options). The last figure seems to be too large, but having paid such a fee, a trader receives an account with a balance of $1,000,000 after completing the challenge. No other prop firm allows you to immediately have an equivalent balance.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Not available (set by liquidity provider) | No |
Spreads and trading fees are combined. They are not charged from traders by Funded Academy, but by its liquidity provider, EightCap. At the same time, the partners of the firm are charged more profitable fees than if they trade with the broker directly. The exact amount of the fee depends on the selected asset, the type of transaction, and other factors.
Detailed review of Funded Academy
Funded Academy has many significant advantages over its competitors. This is due to the high professional level of the founders of the firm and the choice of EightCap as a liquidity provider. Partners get access to a large number of financial instruments and high leverage. They can open multiple accounts and are not limited in trading strategies. Traders can roll over trades to the next day, trade on weekends, and use their choice of advisors. However, it should be noted that the profit split of 70% is far from the highest in the segment. In addition, many prop firms refund the initial fee, while Funded Academy does not. Objectively, there are some disadvantages, but they are much less than the advantages of trading with this firm.
Funded Academy by the numbers:
-
Minimum initial fee is $200;
-
Immediate balance is up to $1,000,000;
-
Withdrawal fee is $0;
-
Leverage is from 1:10.
Funded Academy is a prop trading firm for trading various financial instruments
One of the features of this platform is the variety of assets available to traders. As a rule, prop firms provide access to the Forex market, sometimes adding stocks and indices to it. Funded Academy also allows its clients to trade cryptocurrencies and metals in addition to currency pairs, securities, and indices. Why is a lot of assets an advantage? First, it is because partners can trade the instruments they are used to, so they do not need to change their approach. Second, it allows them to successfully diversify risks by working with different groups of instruments. Given the impressive balance and leverage from 1:10, the prop firm needs to use the maximum opportunity to protect itself from large drawdowns.
Useful features offered by Funded Academy:
-
Traders cannot increase the account balance, but they have the opportunity to open another account. The platform allows its clients to have an unlimited number of active accounts;
-
A partner of the prop firm does not have to trade under special restrictions. It is enough to monitor the drawdown and place a stop-loss order;
-
It is allowed to use advisors and bots, copy trades, trade on news, and hedge. Funded Academy does not limit its partners;
-
Leverage is available for all trading instruments, its value depends on the selected options. The minimum leverage is 1:10;
-
In the user account there is a convenient dashboard with aggregated data on accounts. There you can set various notifications as well.
Advantages:
1
This prop trading firm works with EightCap, which is a trusted broker. It is well known in the Forex market and always fulfills its obligations;
2
If you trade with Funded Academy, spreads will be tighter and trading fees will be lower than if you trade directly with EightCap or another broker;
3
A trader is not limited in his choice of assets, leverage, type of transactions, and trading strategies. There are no rigid frames set by the firm;
4
Partners of the firm pay the initial fee and then give the prop firm 30% of their profits. No other fees are charged by Funded Academy;
5
Traders can receive an account with a balance of $1,000,000 immediately after the challenge is successfully completed, if they are ready for such responsibility;
6
MetaTrader platforms are convenient and functional, and there are many plugins for customization. Also, their mobile versions are available;
7
Although the firm does not have a call center, its Discord channel always has experts ready to help with trading problems.
Guide on how traders can start earning profits
Funded Academy offers only one type of account to traders. Clients can get funding amounts ranging from $25,000 to $1,000,000. The conditions for drawdowns are the same across the board, and increased balances do not attract new restrictions. It is important to understand that the balance is static. This means that, having paid the initial fee for a $50,000 account, a client will trade this particular amount, and no other. If traders want to trade using $250,000, they must open a new account, and this requires paying another initial fee and completing another challenge.
Account types at Funded Academy:
Account Type
Description
$25,000
The initial fee is $200. Maximum total drawdown is 5%, daily drawdown is 4%. The profit split is 70%;
$50,000
The initial fee is $400. Maximum total drawdown is 5%, daily drawdown is 4%. The profit split is 70%;
$100,000
The initial fee is $725. Maximum total drawdown is 5%, daily drawdown is 4%. The profit split is 70% ;
$250,000
The initial fee is $1,800. Maximum total drawdown is 5%, daily drawdown is 4%. The profit split is 70%;
$500,000
The initial fee is $3,550. Maximum total drawdown is 5%, daily drawdown is 4%. The profit split is 70%;
$1,000,000
The initial fee is $7,100. Maximum total drawdown is 5%, daily drawdown is 4%. The profit split is 70%.
There are no target profit requirements on the accounts of Funded Academy. It doesn't matter how active traders are and how much they earn. As long as the drawdown of partners is within the normal range, the prop firm does not bother them.
Investment Education Online
Information
The profit of prop trading firms directly depends on the profit of their partners. Therefore, the sites are interested in traders improving their skills and professional level. To do this, they often publish educational materials on their websites, hold webinars with experienced market participants, and provide analytics. Funded Academy does not provide its partners with training of any kind.
Information available on the Funded Academy website
Information not available on the Funded Academy website
Main principles of the platform
Principles of fundamental and technical analyses
Main trading strategies when working with different trading instruments
Basics of money management
As can be seen, Funded Academy has a unique approach. The firm assumes that traders who want to get funded already have at least minimal professional trading experience. Therefore, it makes no sense to explain the basics to them. As for advanced training and life hacks, the firm’s partners learn everything on their own in practice.
Security (Protection for Investors)
Information
A proprietary trading firm does not need to be licensed by FCA (the Financial Conduct Authority) or a similar regulator because it does not take its partners' trades to the interbank market. This is done by the liquidity provider, which is EightCap. The broker has all the proper documents, it is licensed by ASIC (the Australian Securities and Investments Commission), and its activities are transparent. Anyone can see the relevant documents on the EightCap website.
👍 Advantages
- Traders can file a statement to the prop firm
- Opportunity to contact lawyers of the broker directly
👎 Disadvantages
- The prop firm is not responsible for any problems with trades. It’s the broker’s responsibility
Withdrawal Options and Fees
-
Traders register by payin the initial fee and start the challenge. The challenge takes place on a demo account, so traders do not earn (or lose) anything;
-
After completing the challenge, clients trade on a live account at the funding stage. The profit split is 70%/30%;
-
Traders can withdraw funds no more than once every thirty days;
-
To withdraw profits, traders must submit a request to technical support. The application is made in a free form and can be submitted at any time;
-
There is no minimum level of withdrawing funds, traders can withdraw any amount. Withdrawal is possible to a bank card, bank account, e-wallet, or crypto wallet.
Customer Support Service
Information
Technical support is needed for partners of the firm to quickly clarify their issues with a competent specialist. Funded Academy offers its clients two options for contacting tech support. Traders can send emails or join the firm's official Discord channel. The second option is preferable since communication by email in any case is not very fast.
👍 Advantages
- Experts ready to answer your questions are nearly always on Discord
- High activity of community on the prop firm’s channel, which allows traders to communicate with their colleagues
👎 Disadvantages
- No call center, which is the quickest communication channel
Traders can contact Funded Academy technical support by using the following channels:
-
email;
-
official Discord channel.
The firm is not represented on other social platforms except Discord. Its channel is the fastest way to get in touch, although you will still have to use email at some point (for example, to submit a withdrawal request).
Contacts
| Foundation date | 2020 |
| Registration address | 50 Clarence St, Sydney NSW 2000 |
| Regulation |
FCA, ASIC |
| Official site | fundedacademy.com.au |
| Contacts |
Email:
hello@funded.academy,
|
Review of the Personal Cabinet of Funded Academy
To trade with funds of Funded Academy, register on the official website of the prop firm, pay the initial fee in accordance with the selected balance, and complete the challenge. Usually there are no questions during the registration process, but still below are a few comments.
1
There is no "Register" button on the Funded Academy website. In the upper right corner, where it is usually located, there is a link to Discord. To register, click on the "Pricing" button in the main menu.
2
You will find yourself in a block that lists all the balance options ranging from $25,000 to $1,000,000. The conditions for all balances are the same, they differ in the initial fee only. After selecting the desired balance, click "Start with MT4" or "Start with MT5" buttons. Different platforms have different settings, so it's important not to make a mistake.
3
You have moved to the payment service. Check the product details. Note that you can purchase unique options such as the possibility to hold trades over the weekend, double leverage, and no mandatory stop loss for additional fees. Once you've made your selections, click the "Add to Cart" button.
Check the products in your cart and click the "Proceed to Checkout" button. You need to provide your first and last names, company name (optional), country, and exact address with zip code. Next, enter your phone number and email. In the last block, enter the details of a bank card or PayPal wallet. Agree to the terms of service (tick the box), click the "Place Order" button, and follow the instructions on the screen. Now you will gain access to your user account and the prop firm will provide you with the data necessary for trading through the selected platform.
Services of Funded Academy’s user account:
-
Information on trader's active accounts;
-
Menu that displays information on active challenges;
-
Special section for communication with other partners of the prop firm;
-
List of transactions with details and indication of the current status;
-
Special functions for contacting tech support;
-
Information on the current balance on each of your active accounts;
-
User account settings (including personal data for verification).
Disclaimer:
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Articles that may help you
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
For Beginners
FAQs
How do client reviews impact Funded Academy rating?
Any review can raise or lower the rating of any company in the Forex prop firms rating. To read reviews about Funded Academy you need to go to the company's profile.
How can I leave a review about Funded Academy on the Traders Union website?
To leave a review about Funded Academy , you need to register on the Traders Union website.
Can I leave a comment about Funded Academy if I am not a Traders Union client?
Anyone can post a comment about Funded Academy in any review about the company.
Traders Union Recommends: Choose the Best!
Open an account
Your capital is at risk.
Open an account
Your capital is at risk.
Open an account
Your capital is at risk.