How Long it Takes to Get a Funded Account?

How many months does it take to become a funded trader?

For a trader looking to get funded by a proprietary trading firm or platform, in most cases there are minimum requirements set by the prop firm to gauge whether the trader is a suitable recipient of said funds. Several factors will determine how long it takes to get approved for funding (which we will explain later on), but usually, the process involves the trader proving that they can consistently generate profit over a set amount of time.

Each funded account provider sets their own minimum requirements, which can range anywhere from a few days to several months. When looking at the available options, consider these limits:

• Minimum calendar days: As the name suggests, this is the minimum number of calendar days that a trader must have traded for to qualify for funding. For example, My Funded FX requires 14 calendar days to have passed since account creation, despite only needing one day of active trading. This means you must wait for 2 weeks to pass before your account can receive funding. You may also see the term calendar days used for the minimum number of days until your first payout after receiving a funded account.

• Minimum trading days: This refers to the number of active trading days that you need to have completed before you are eligible for a funded account. The minimum trading day is set to encourage traders to actively engage with the market and demonstrate their abilities within it, while allowing the brokerage to sufficiently evaluate their performance.

• Minimum number of trades: Some funded accounts and prop firms require you to have completed a minimum number of trades before receiving funding. This shows that you have actively traded under evolving market conditions and not just made some solid investments that grew over time.

Firms offering funded accounts set these limits so that they can be sure a trader is qualified enough to receive a funded account, and ready to get the account under management. Each prop trading firm’s requirements vary, so research each firm before settling on one. You can see Traders Union’s list of the best prop firms here: All Prop Firms List - TU Ranking.

The amount of time it takes to get funded varies massively, so we can split those ‘trial periods’ into two categories: short-track and long-track. Let’s look at those two in more detail.

Short track (less than 1 month)

A short track period for obtaining a funded trading account will typically be under one month. Sometimes, prop trading firms want to supercharge the recruitment process and attract the most talented traders by shortening the qualification period. Although this allows more traders the opportunity to acquire more capital to further their trading careers, the higher profit requirements are much more of a challenge to meet.

One example is SurgeTrader, which declares that the minimum number of days is not important – whether that be two days or two months. Applicants only need to generate a set amount of profit, however long it takes. According to their website, they only want to see the trader demonstrate their ability to produce positive returns, with no set time limit. That means that technically, you could get approved for funding in just one day. You can find out more about the firm in our SurgeTrader Review.

Another example of a prop trading company with a short-track qualification period is FTMO. FTMO is one of the most reputable prop firms out there, so receiving a funding account with them is a huge opportunity for any trader. Fortunately, to pass the FTMO challenge you are only required to actively trade for a minimum of four days during their unlimited period to reach the profit target. You can learn everything there is to know about the firm by reading Traders Union’s review of FTMO.

Earn2Trade (E2T) also offers funding to those who pass their virtual trading exam with a minimum of 15 active trading days. The percentage of profit required to pass depends on how much virtual funding you opt for, and the minimum loss requirements are quite challenging, but the period to be approved is considered short. However, E2T focuses on futures trading only so this is not suitable for all traders. To learn more about E2T, see our Earn2Trade Review.

Earn2Trade Funded Account Requirements

Although it might seem enticing to obtain prop firm funding as quickly as possible and start trading with higher capital sooner rather than later, there are some disadvantages associated with short-track qualification periods for funded accounts. Some of these are:

• Stricter Risk: The requirements for risk compliance are often stricter with short-track funded accounts. For example, on E2T, suffering a loss of roughly 2.2% on one single day would fail the funding challenge.

• Higher Requirements: Some short-track testing periods will require you to have higher qualifications to achieve funding, such as licenses or completion of a certificate program.

• Less Regulation: Some of the funded account programs with short-track assessment periods are subject to less regulation than some of the more reputable long-track funding assessments. Be sure to read the terms and conditions closely.

Long-track (3-6 months)

Though there are short-track test periods for funded accounts, it is more common for prop firms to require three to six months of trading before they will fund you. Having longer periods for the assessment means there is less incentive for you to engage in high-risk trading while allowing firms to get a better gauge on how you can perform in the long term. Market conditions tend to evolve considerably over several months, so as a trader, you can demonstrate how you adapt.

One example of a prop firm with a long-track assessment period is FidelCrest. With FidelCrest’s Trading Challenge, you must successfully complete two stages, each consisting of 60 days, to be eligible for a funded account. Because the challenge period is longer, FidelCrest allows traders a maximum daily loss of 5% to 10%, which is a much higher allowance than the short-track funding challenges. You can learn more about the company and its trading challenge here in Traders Union’s FidelCrest Review.

FidelCrest's Trading Challenge Stages

Best prop trading firms

1

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

Topstep is an international proprietary trading company registered in the USA. The company has been providing financial services since 2012 and offers exclusive trading terms for clients from different countries. Topstep provides financing of real trading accounts of its clients if they prove the skill to make trades and manage risks on a simulation account. Traders can trade CME Group futures. Trading on real accounts is carried out through the ECN broker Equiti Capital.

Pros/Cons

•Real trading accounts are financed by a broker, there is no need to invest your funds in trading.

•The company provides a wide range of free training materials, including free group coaching.

•You can contact the support team using several convenient methods.

•The broker offers a referral program for extra income.

•The company doesn’t offer bonuses, automated trading, or other passive income options.

•The support service works only on weekdays during set hours.

Study Review

2

9.2/10

Go to broker

Your capital is at risk.

Minimum deposit:

€155

Review

FTMO is an international proprietary trading company created in the Czech Republic in 2014. The platform brings traders into its fold and after traders successfully pass a two-step testing regime, FTMO transfers 400 thousand dollars to the trader’s account. Transactions are monitored by FTMO to grow the deposit. There is a payment of 80% at the first stage of real trading. The 90% Profit Split is available only to those FTMO Traders that have reached Scaling Plan. The company works in full accordance with European financial legislation and is under the local regulator.

Pros/Cons

•Quite low testing cost is €155.

•Classic platforms such as MT4, MT5, and Ctrader are familiar to many traders. For these platforms, hundreds of indicators, scripts, and advisers have been developed.

•The starting reward is 80%.

•Diversification of tariff plans. Candidates can choose a demo deposit from 10 thousand to 200 thousand US dollars. There are tariff plans that span from standard to aggressive trading.

•Leverage is up to 1:100.

•Strict requirements for the test period. The allowable maximum loss is 10% of the deposit amount. The target profit is 10%, for which 1 month is provided.

•There is no information about how the company is funded.

Study Review

3

9.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$119

Review

Funded Trading Plus clients trade CFDs on currency pairs, indices, precious metals, energies, and cryptocurrencies. There are 18 programs with one- and two-phase challenges, or without evaluation. These programs also differ in initial fees, profit targets, maximum total drawdown, and other criteria. Traders can receive from $5,000 to $200,000 under management upon successfully passing the challenge or immediately if they choose the program without evaluation. Scaling up to $2,500,000 is available. The profit split is 80%/20% at the start and 90%/10% or even 100%/0% later. Traders work on MetaTrader 4 and MetaTrader 5. Leverage is up to 1:30.

Pros/Cons

•Wide choice of programs with universal parameters and acceptable requirements;

•One-time initial fee, refundable for programs with one- and two-phase challenges. No monthly subscription;

•Simple and understandable conditions, no hidden obligations, and profitable trading split;

•The prop firm partners with Eightcap and ThinkMarkets. It offers spreads from 0 pips and low trading fees;

•A demo account with $100,000 in virtual funds is available for exploring the trading process and instruments;

•24/7 technical support is provided via four communication channels;

•Deposits and withdrawals are made with Visa, Mastercard, bank transfers, and crypto wallets without fees.

•The Master program without evaluation is very expensive — a non-refundable initial fee of $4,500 is required for the balance of $100,000;

•Funded Trading Plus offers only CFDs without real assets or futures;

•The firm’s website contains much information, but some important nuances, like the reset fee, are not provided.

Study Review

What factors influence the amount of time it takes to become a funded trader?

One of the main factors that will determine how long it takes to become a funded trader is the specific prop firm and the length of time they allocate for their evaluation process, though many other factors will ultimately affect the outcome. Some of those are:

• Review Period: The review of any phase could take between one and five business days, lengthening the wait for receiving funding. Some firms conduct swift reviews within a day, while others may require up to 5 business days for a comprehensive assessment.

• Account Size: The size of the trading account being sought will likely influence the evaluation duration. Larger accounts may undergo more meticulous scrutiny, as prop firms want assurance that traders can handle the responsibility of increased capital. Smaller accounts may have quicker evaluation periods, reflecting a more straightforward risk assessment.

• Type of Instruments: The type of instruments traded, and market volatility play crucial roles. Trading more complex instruments or in highly volatile markets may necessitate additional scrutiny to ensure a trader's strategy can adapt and thrive under varying conditions. This consideration impacts the evaluation process duration. Furthermore, trading less volatile instruments may lead to slow growth and lengthen the time it takes to hit your profit targets.

• Risk Management: Your ability to effectively manage risk and adhere to the prop firm's risk parameters is crucial. Demonstrating a disciplined approach could positively impact the evaluation timeline, while poor risk management may cause you to overstep the limit for loss allowance.

• Market Conditions: The broader market conditions and current economic performance are likely to influence the evaluation period, especially for strategies sensitive to specific market environments.

To help you select the best-suited funded account for you, Traders Union has assessed the five top Forex prop trading firms and compiled a list of reviews, which you can find here: Best Forex Funded Accounts.