We’re at it again — “We cover your losses and you keep the profit” nonsense. Funded Trading Plus is apparently a website that is peddling this hogwash, and obviously targeting the financially naive.
Funded Trading Plus is masquarading as a proprietary trading firm that would like to give you “free money” for your trading.
According to this website, Funded Trading Plus is giving away $500,000 and adding you another $20,000 in bonuses.
The company claims that students who achieve a mediocre 40% win rate will be entitled to “free money”.
Funded Trading Plus is obviously operating with rules that their students must follow.
But one thing that victims of this nonsense do not know is that they will never outsmart the casino. Only smart wagers can make money from the casino for a period of time before the owner can find out and kick them out anyways.
In other words, if you’re not a professional trader, you can’t achieve any significant profit from the Forex market.
The people who run Funded Trading Plus know this very well, yet they require students to pay a steep fee upfront in order to participate in the so-called talented trader program.
Now, this is the simplest definition of a Forex scam.
If you want to trade like a professional in the shortest time without risking any significant money, I urge you to use this list of recommended trading products.
Funded Trading Plus Review: Good marketing strategy and clever sales pitch
The website of this company can be found at fundedtradingplus.com. It is professionally-done for purposes of convincing suckers and conning them hundreds if not thousands of dollars.
The reason why this funded account scheme seems appealing is because the company is promising the following:
- Simple rules
- Instant cash bonuses
- Refunds and account resets are possible
- Mininum funding is $60,000 and maximum is $500,000
- Drawdown can go up to 50%
- No profit target
- Student keeps 80% of the profit
- Comparision between FundedTradingPlus and schemes like MyForexFunds, the5%ers, Topstep Trader, OneUp Trader and FTMO shows that FundedTradingPlus has an upper hand.
Some of those rules and promises are ridicilous. For example, if total drawdown allowed is 50%, then it means that overtime, this account will have suffered losses that equate to half of the initial deposit.
Recovering from this loss is not possible — keeping in mind that Funded Trading Plus has “simple rules” that must be followed and one cannot trade the way they like.
How Funded Trading Plus intends to scam victims
It is so unrealistic to tout free money for trading when people are paying an upfront fee to access this “free money”.
The company is disguising the “free money for trading” opportunity using “evaluation tests” so that it can seem like one is paying for some sort of trading education.
But one thing that victims of these schemes don’t understand is that trying to outsmart these guys is something one cannot successfully achieve.
You must be a professional trader to win any significant number of trades. And even if you do, it would be much better to use the $600 fees in your own trading account and use it to build your account instead of paying FundedTradingPlus.
These scams actually thrive on the greed of humanity. They promise free money that is not there.
Furthermore, the company is not disclosing which brokers are involved in this scheme. It therefore makes them come across as a bucket shop.
The clever bucket shop is actually letting students trade on a simulator, meaning that the funds are not in a live account.
They know that all of the people who sign up by paying a fee will lose. And in this case, there will be no refund. I believe there is a strict refund policy and it is not just a matter of asking your money back after trades go south.
There is nothing like a prop trading firm giving “free funds for trading”. A serious company will provide these tests for free because the aim is to find talented traders.
Talented traders do not pay money to sign a contract with companies that want their funds traded.
This is when Funded Trading Plus is starting to look like a cheap but clever scam somehow.
I can’t recommend such a platform because the chances of winning are almost nil if not nil already.