AquaFunded Review
4.3

AquaFunded Review

AquaFunded is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

AquaFunded is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Pros
  • Outstanding rating on Trustpilot: 4.8 out of 5
  • There are two unique funding programs accessible
  • Having access to an expert trader dashboard
  • Several trading options, such as indices, commodities, forex pairs, and cryptocurrencies
  • Use choices leverage up to 1:100
  • Not restricted by a minimum or maximum number of trading days
  • Diverse Trading Instruments
  • Flexible Trading Days
  • Adaptable traders’ scaling strategy
  • The first payment made in 14 days
  • Biweekly payments for steady income
  • A generous 90% profit share
  • Refundable in full
  • Weekend and overnight stays are allowed
  • Trading in the news is allowed
Cons
  • Recently founded proprietary company
  • Equitable drawdown is incorporated into a two-phase review method
  • 8% was the initial maximum drawdown during the two phases of the examination
  • Trailing drawdown in effect for single-phase assessments

What is AquaFunded?

AquaFunded, properly named AQUA FUNDED FZCO, is a proprietary trading company located in Dubai, United Arab Emirates. Established on October 9th, 2023, by CEO Jason Blax. AquaFunded offers traders the choice among a two-step evaluation or a one-step evaluation approach. The company collaborates with ThinkMarkets as its broker.

AquaFunded’s headquarters is situated at Premises Number 001-35882, IFZA Business Park, DDP, Dubai, United Arab Emirates.

Logo of AquaFunded

Jason Blax CEO at AquaFunded 

Jason Blax holds the position of CEO at AquaFunded. They will provide additional details regarding their CEO in the future.

AquaFunded Funding Programs and Challenges: Rules and Requirements 

AquaFunded offers traders two distinct funding scheme choices.

  1. Two-phase Evaluation 
  2. One-phase Evaluation 

Two-phase Evaluation 

Step 1(Challenge)Step 2(Verification)Step 3(AquaTrader)
Trading Period Unlimited Unlimited 
Minimum Trading Days 0 days 0 days 
Maximum Daily Loss$5,000(5%)$5,000(5%)$5,000(5%)
Maximum Loss $8,000(8%)$8,000(8%)$8,000(8%)
Profit Target $8,000(8%)$4,000(4%)
Refundable Fee $373

AquaFunded offers traders the chance to take part in its Two-phase Evaluation, enabling them to oversee account amounts from $10,000 to $200,000. This examination aims to identify proficient traders capable of generating profits while efficiently managing risk throughout the assessment period.

Account SizePrice
$10,000$77
$25,000$197
$50,000$297
$100,000$497
$200,000$977

Traders can utilize leverage up to 1:100 during the Two-phase Evaluation. During the initial phase, traders aim to reach an 8% profit goal while ensuring they do not surpass the 5% daily loss limit or the 8% maximum loss limit. There are no set requirements for the minimum or maximum number of trading days during this phase. Advancing to phase two necessitates achieving an 8% profit goal while adhering to the maximum daily and maximum loss restrictions.

Phase two aims to achieve a 4% profit goal while maintaining the same maximum daily loss and maximum loss limits. Similar to Phase One, there are no limitations on the minimum or maximum number of trading days during Phase Two. After passing both evaluation processes, traders are granted a funded account without any mandatory withdrawal requirements. They must only follow the 5% maximum daily loss or 8% maximum loss regulations.

The initial payout is made 14 days after the first position is placed on the funded account, followed by withdrawals every two weeks. Traders are entitled to a 90% profit share based on their success on the funded account.

You can get funded with AquaFunded today! Learn more here.

One-phase Evaluation 

Step 1(Challenge)Step 2(AquaTarder)
Trading Period Unlimited 
Minimum Trading Days 0 days 
Maximum Daily Loss$3,000(3%)$3,000(3%)
Maximum Loss $6,000(6%)$6,000(6%)
Profit Target $9,000(9%)
Refundable Fee $397

AquaFunded offers traders the chance to take part in its One-phase Evaluation program, where they can oversee accounts with values between $10,000 and $200,000. The program’s goal is to pinpoint proficient traders capable of producing profits while adeptly handling hazards throughout a specific assessment time.

Account SizePrice
$10,000$77
$25,000$217
$50,000$317
$100,000$517
$200,000$997

Traders can utilize leverage up to 1:100 during the One-phase Evaluation. They must meet a 9% profit target while staying below the 3% maximum daily loss and 6% maximum trailing loss limits. There are no set minimum or maximum trading day criteria in this phase. Traders need to achieve a 9% profit target while adhering to the maximum daily and maximum loss limits to secure funding status.

Traders who pass the evaluation process receive a funded account without any minimum withdrawal requirements. They must closely follow the regulations of a maximum daily loss of 3% and a maximum loss of 6%. The first payment is made 14 days after opening the funded account, with future withdrawals possible every two weeks. Traders are entitled to a 90% profit share based on their success on the funded account.

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific time.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

Profit targets: A predetermined proportion of the account balance that traders must meet.

Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.

Minimum trading days: The number of active trading days required throughout the challenge period.

Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

AquaFunded Broker: Do They Use a Reliable Platform? 

When choosing a proprietary trading firm, it is essential to evaluate if the trading needs align with traders’ forex trading approach. Although high-profit splits and well-funded accounts may be attractive, it is crucial to assess the feasibility of meeting the required monthly gains and maximum drawdown percentages. Consider time limitations, as having unrestricted trading periods might help alleviate stress.

Understanding all trade regulations during the evaluation and funding stages is crucial to prevent unintentionally breaching account terms. AquaFunded provides two assessment programs: the Two-phase Evaluation and the One-phase Evaluation, each with achievable profit goals and defined maximum loss limits. 

Participants can trade at their speed without any restrictions on the minimum or maximum number of trading days. Traders who complete assessments are eligible for rewards with a generous profit split of 90%. AquaFunded is a top choice for traders looking for achievable goals and advantageous terms to qualify for rewards.

AquaFunded has partnered with ThinkMarkets as its broker.

ThinkMarkets is a high-quality online brokerage that deals with multiple assets and has headquarters in London and Melbourne. ThinkMarkets is well-known for providing easy access to a variety of markets through its high-quality trading platforms such as MetaTrader 4, MetaTrader 5, and ThinkTrader.

AquaFunded Fees: How Much Do They Charge? 

Trading Fees- 

Trading InstrumentCommission Fee
FOREX5 USD / LOT
COMMODITIES5 USD / LOT
INDICES0 USD / LOT
CRYPTO0 USD / LOT

What are Forex Prop Trading challenges? 

Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees paid by traders to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

  • Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.
  • Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.
  • Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

AquaFunded Proof of Payment:

Although high-profit splits and well-funded accounts may be attractive, it is crucial to assess the feasibility of meeting the required monthly gains and maximum drawdown percentages. Consider time limitations, as having unrestricted trading periods might help alleviate stress.

Understanding all trade regulations during the evaluation and funding stages is crucial to prevent unintentionally breaching account terms. AquaFunded provides two assessment programs: the Two-phase Evaluation and the One-phase Evaluation, each with achievable profit goals and defined maximum loss limits. 

AquaFunded Customer Support: 

  • Live Chat: Available
  • Email: support@aquafunded.com
  • Discord: YES
  • Supported Languages: English

What Makes AquaFunded Unique? 

AquaFunded is a proprietary trading company that provides two account evaluation options: the Two-phase Evaluation and the One-phase Evaluation. The evaluations are equipped with multiple elements that provide traders with a competitive advantage. Traders have the flexibility to trade for an indefinite duration without any mandatory minimum trading day requirements. Traders can withdraw cash after 14 calendar days, and the initial profit share is 90%.

The Two-phase Evaluation is a thorough two-step process that traders must complete to be eligible for payments. Traders need to reach an 8% profit in the initial phase and a 4% profit in the subsequent phase. Traders must follow a 5% maximum daily loss and an 8% maximum loss during both phases. There are no limitations on the minimum or maximum number of trading days during either evaluation phase.

AquaFunded Reviews: What Do Their Customers Say?

AquaFunded has a rating of 4.7 out of 5 stars on Trustpilot, based on reviews from 524 customers. They are a certified company on Trustpilot. 

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#1. Zoltan M recently initiated his first Auqa-funded 100k challenge. After receiving funding, everything proceeded quite well. He received the funded account immediately without any issues. Excellent discord with supportive staff. In one week, he will be able to seek my initial payout. Having purchased two 200k accounts, he strongly recommends Auqa financed for his upcoming challenge.

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#2. According to Patrick, everything is going well up to this point. He can only provide expertise on completing phases 1 and 2. The registration process was seamless, and he promptly received a notification upon completing phase 2. Currently awaiting credentials for the financed account. Will keep him updated on the progress.

#3. Mary Nilson asserts that the customer service is terrible. It is crucial when a customer expresses a complaint and we eagerly await a response in a text box. If he completes phase one, he believes that attempting phase two again after a failure would be beneficial.

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#4. Astorian Sound praised the affordable entrance fee for challenges but criticized its equity-based drawdown as unfavorable. Consider entering a trade on a $100,000 account that increases to $103,000 and then returns to the initial amount.

Encountered a negative encounter with their customer assistance. He observed that his EA exceeded the equity-based daily drawdown limit, although the account remained “active” on their server. He contacted assistance and was initially informed that the account was operational, but subsequently, they investigated the account history and found it to be in violation. He inquired about the timing of when they would have informed him. 

They failed to respond and disregarded my inquiry, simply stating, “The account breached the rules, please attempt once more.” If he had not been attentive, his EA may have completed the challenge, leading to a check of the account, identification of the violation, and denial of financing. That is poor customer service.

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#5. Jake Rainford had a negative experience with this prop firm. Despite having 2 buy positions with a total risk of 1% on a 200k account, he ended up losing £6,129.50 instead of the expected £2,000. Interestingly, his daily drawdown was £6,000.

He is really upset with this situation, and the company is unhelpful in providing explanations for the reasons behind it.

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Conclusion

AquaFunded is a trustworthy proprietary trading firm that provides two unique funding programs to traders: the Two-phase Evaluation and the One-phase Evaluation.

The Two-phase Evaluation program utilizes a conventional two-step method to qualify for overseeing a funded account and receiving a 90% profit split. Traders need to reach profit goals of 8% in the first phase and 4% in the second phase to be successful. The program contains a set of regulations that include maximum daily and maximum loss limits of 5% and 8%, respectively. 

Traders have the freedom to trade at their speed without any specific minimum or maximum trading day limits. The Two-phase Evaluation method has a scaling strategy that enables traders to potentially boost their original account balance.

The One-phase Evaluation program mandates traders to reach a 9% profit target to be eligible for managing a funded account and receiving a 90% profit split. Traders follow maximum daily and maximum loss restrictions of 3% and 6%, respectively, similar to the Two-phase Evaluation. The program does not have any specific trading day criteria and has a scaling plan to increase initial account balances.

AquaFunded provides advantageous terms for individuals looking for a reputable trading company. Traders enjoy unrestricted trading periods and can take their earnings after a minimum of 14 calendar days. AquaFunded stands out in the proprietary trading business due to its generous 90% initial profit split.

Account size up to:
$200,000
Profit Split Up to 90%
*Choose your account type and start trading

4.0
Fees
4.0
Trading Platforms
5.0
Deposit and Withdrawal
4.0
Customer Support
4.3 Overall Rating

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AquaFunded Review
4.3/5
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