Welcome to the Funded Trader Program review. The company is operated from the web address thefundedtraderprogram.com and promising to give ‘free money’ for trading.
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The website claims that if students can prove their trading skills, they will earn up to 90% profit split. The trading combine consists of two evaluation phases and students have to choose one of the virtual money account types.
The minimum that The Funded Trader program wants to give you for trading is $25,000 in virtual money. Nowhere does the company mention that they will give you real money for trading.
There’s no clause on this shady website highlighting what happens if you pass the trading combine. What’s clear is that thefundedtraderprogram.com will take an upfront fees in order to let you trade on a simulator.
Thefundedtraderprogram.com charges a minimum of $189 upfront and claims that this fee is refundable. However, students are paying as much as $1399 if they would like to use a demo account with $300,000 in virtual money.
Is thefundedtraderprogram.com a legit or a scam prop trading firm? It seems.
The Funded Trader Program Review: Not legit but a scam
There’s no difference between thefundedtraderprogram.com and Blue Guardian Capital scam. They both want you to pay them in order to trade on a demo account with EightCap.
This shameless company also inviting people to join the ‘Kingdom’ in order to become rich. This is clearly a misleading statement aimed at the financially naive trader who believes that successful trading only involves funding.
The trick that the Funded Trader Program uses to make a lot of profit in fees is very simple. The demo account is the same. However, they have labeled them using various names and added various amounts of virtual money to each one of these accounts.
When a student signs up, the company simply looks at how much fees you’ve paid, then they proceed to open a demo account on your behalf and fund it with corresponding virtual money.
To the student, this looks like a totally different account type or package.
The Funded Trader Program (as a company) refuses to take liability or responsibility for any form of losses that may arise from the use of their fraudulent product.
They’ve crafted a quick Disclaimer highlighting how the company won’t be liable for your losses. They further claim that TheFundedTraderProgram is not soliciting, offering investment advise or sponsoring anything.
Yet we see that this bogus program (where students are paying to trade on a simulator) is the exact description of an illegal program that authorities would frown at.
TheFundedTraderProgram.com review: will you be funded?
No evidence that a student has ever passed the trading combine and got funded. Just like MyForexFunds scam, the Funded Trader Program makes money from charging upfront fees.
They’re using this program as a cashcow. They’re not interested in funding anyone. Statistically, 95% of traders fail. These student traders are going to fail. Maybe one or two will meet the threshold for getting funded but again we’ve not seen any proof of this company funding people.
The fraudulent part is that you will have paid a fee to access a trading simulator which you can actually use for free at any retail broker’s platform.
The idea of funding is just a trap that benefits the owner of the company and not you. Majority of people here are going to lose their fees in this illegal program.
The Conclusion of the Funded Trader Program review
Thanks for reading this review. We advise that you avoid these so-called prop trading firms because they are not honest with their agenda.
For the record, there is a review out there from one trader who claimed that TheFundedTraderProgram is a rigged game and the company does not fund good traders.
This trader has also stated that the scammers are banning people on Telegram if you ask them a question they don’t like.
This shows you pretty much about the characters we are dealing with.
Avoid this scam at all cost.
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