Welcome to the FundisUs review. FundisUs claims to provide traders with funded trading accounts.
They want traders to know that FundisUs is the “best subscription-based FX trading solution” that provides everyone with an opportunity to access the spot market while trading a $50,000 account or more.
FundisUs prop trading firm has also created 4 steps that traders must go through successfully in order to qualify for funding in the next trading account.
The company also claims to absorb all losses associated with their student’s trading activities.
They claim that the only cost associated with trading the company’s live accounts is the subscription fees, which is supposedly going to cover all liabilities arising from trading.
This is too good to be true, which is why we decided to analyze this prop trading firm to deduce where the truth is.
There’s no difference as all claim to fund traders. But we’re a bit wary of these prop trading firms and would recommend trading a personal account using these simple trading tools.
FundisUs provides a Texas based physical address and a US phone number to cater for their support. This simply means that the prop trading firm is operating out of the US.
Ownership information has not been disclosed. We know that this is a company and therefore founders must be introduced to inspire trust.
According to who.is, FundisUs.com was created in March 2019. This obviously means that the company has not been around for a significant length of time.
Nevertheless, we’re interested in the quality of service they can provide under-funded traders with because they claim to have what it takes to fund traders.
We see that there are a few hoops to jump through in order to qualify for a “live account” with this company. The 4 steps are as follows:
- Incubation period:Growth target of 10% applies and withdrawal of blocks of 5% are also permitted. We would have appreciated more explanation regarding the meaning of withdrawing profits in 5% blocks.
- Refinement period: a 50K account will be doubled if traders reach 10% profit target. This 10% profit must be maintained in the account as it does not qualify for withdrawal. This is however separate from the 5% profit withdrawal.
- Specialization period: If additional 10% is attained, account balance will be doubled. Previous profit percentage must be maintained and excluded from withdrawals.
- Mastery period: Additional 10% must me made in order for traders to qualify for a $1 million funded trading account and a chance to be interviewed for a “fund manager position”.
If traders make 10%, they can withdraw 50% of their profits or choose to upgrade to the next plan.
Once traders sign up for the FundisUs funded trader program (by paying an undisclosed 30 day subscription fees), the company will open a trading account on their behalf and fund it.
They will send MT4 login details to the trader in order to commence trading activities on behalf of the company.
FundisUs prop traders are not allowed to hedge any positions. Profit share is based on a 50:50 ratio and leverage is up to 10:1.
Is FundisUs legit or scam?
The company’s FAQ page does not mention the exact subscription fees required to successfully apply for a $50,000 funded trading account.
We would like this company to clearly highlight these fees. Lack of this disclosure makes FundisUs look dishonest in the eyes of serious traders.
Secondly, this is a company based in the US. We would like them to disclose information about the founders and professional background. It helps to inspire trust.
Thirdly, all of these funded account programs offered by prop trading firms like FundisUs claim to offer some sort of training.
Even with the best training in the world, some traders have been known to lose money and give up. Their incubation period is for traders of all levels including those who have never seen what an MT4 trading account looks like,
FundisUs does not mention any form of trading or mentoring for new traders. It is quite obvious that when a trader enters the market with zero knowledge and experience, they’ll definitely lose. It is a very sure thing.
Since traders are paying a certain fee in advance, it looks like they’ll be gaming with the casino because their ultimate loss will be obvious while the prop trading firm gains.
Furthermore, FundisUs claims that they’re rewarding traders with a live funded MT4 account. Nobody has the proof that this is a live funded account.
We’ve not seen any reviews supporting these claims. Of course trading on a demo would give them additional advantage over a trader with zero experience.
We don’t think the owners of FundisUs are too stupid to let a newbie trade a live account worth $50,000 in real money.
Unless the fee is almost the same as the maximum draw down the account could suffer, we just don’t see how they can let a wannabee professional trader handle a live account with real money.
The concept that prop trading firms use is generally a scam. They are sort of shady because their method of operation doesn’t make any sense.
You’d stand a better chance winning a poker game than winning a $50,000 funded trading account.
We’ve seen “proprietary trading firms” like BluFX defending themselves or leaving fabricated reviews about their service in our comments.
However, what we should probably reiterate is that anyone with some common sense will never believe that a prop trading firm can let a newbie trade a live account at the expense of paying a couple of dollars which is not equivalent to the loss they can suffer if things go south.
Thanks for reading the FundisUs review. We look forward to your opinion.