BrightFunded Review
3.3

BrightFunded Review

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

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

Pros
  • Up to $400,000 in trading money is available
  • BrightFunded Tokens are awarded after each trade through the Trade2Earn program
  • Flexible finance that can split profits up to 100% according to performance
  • Thorough assessment stages to develop and test trading abilities
  • Special NFT certifications for traders who overcome obstacles
  • Avenues within the community that support better learning and communication
Cons
  • Assessment costs differ according to the selected funding level
  • There is a minimum trading day requirement, which could impede advancement
  • For the reward system to work well, there might be a learning curve

What is BrightFunded?

One of the top companies in the proprietary trading space is BrightFunded, which gives traders the chance to handle large sums of money and receive real rewards for their trading activity. Traders can earn BrightFunded Tokens by trading, thanks to the unique Trade2Earn idea. These tokens can then be redeemed for several trading incentives. The platform’s goal is to give traders the resources, incentives, and tools they need to succeed in the financial world. 

BrightFunded has quickly become known for its distinctive products, which include up to $400k in trading capital. BrightFunded is paving the way for a new era where every trader has the chance to shine as a funded star, with over 5,000 active traders and quick payout processing.

logo of BrightFunded 

BrightFunded Funding Programs and Challenges: Rules and Requirements 

Bright Funded is a trading company that offers traders funded chances. They create custom challenges that allow traders to demonstrate their abilities through risk-free simulated trading evaluations. A portion of the gains are retained by the successful participants, who also have access to financed trading accounts with substantial funds. Adherence to trading criteria, consistent performance, and disciplined risk management are the main focuses of these issues. 

To reflect Bright Funded’s dedication to developing disciplined and profitable trading techniques, traders must exhibit both consistent profitability and excellent risk management. The company looks for traders who have long-term promises and gives them chances to trade large amounts of capital backed by business resources and advice.

Two-Step RulesAccount Size 
Profit Target Step 18%
Profit Target Step 25%
Max Daily Loss5%
Max Daily Drawdown
Max Loss10%
Max Drawdown
Min Trading Days Step 15
Min Trading Days Step 25
Max Trading Days Step 1
Max Trading Days Step 2
Profit Split​​80%, up to 100%
Profit Target Step 18%

Two-Step Challenge Pricing:

Account Size Price 
$10,000$95
$25,000$195
$25,000$195
$50,000$295
$100,000$495
$200,000$975

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 period.

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:

  1. Profit targets: A predetermined proportion of the account balance that traders must meet.
  2. Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.
  3. Minimum trading days: The number of active trading days required throughout the challenge period.
  4. 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.

BrightFunded Broker: Do They Use a Reliable Platform? 

Of course! Traders have the freedom to engage in trading during news events using Bright Funded. They assert that a variety of trading techniques, particularly news trading, are supported by their platform. But it’s crucial to make sure that trading choices are consistent with the trader’s defined trading plan & tolerance for risk.

BrightFunded Fees: How Much Do They Charge? 

Depending on the account size they choose, there are several fees associated with signing up with this trading company. Each has a corresponding price.

  • $10,000 in the account: $95
  • $25k in the account: $195
  • $50,000 in the account: $295
  • Account balance of $100,000: $495
  • $975 in a $200,000 account

Once the trader’s purchase is complete, they can log in to their account and start the review process.

Therefore, 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-

  1. 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.
  2. Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.
  3. 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.

BrightFunded Proof of Payment:

BrightFunded is a private trading firm that offers access to a wide variety of tradable assets. Our platform allows traders to engage in trading across multiple marketplaces, including

  • The diverse range of cryptocurrency options allows them to take advantage of current trends in the forex market & execute successful trades.
  • BrightFunded provides a wide variety of popular forex pairings, such as minor, exotic, and major pairs, to meet the different requirements of traders in the market.
  • The platform allows access to a diverse range of worldwide indexes, offering many trading opportunities based on the performance of global markets.
  • Traders can trade various commodities such as metals and soft commodities like agricultural items to diversify their portfolio and take advantage of opportunities in other areas.
  • Stocks: The dependable platform allows traders to easily and confidently trade shares from global markets.

BrightFunded aims to offer users a diverse selection of choices to facilitate well-informed trading decisions.

BrightFunded Customer Support: 

BrightFunded is dedicated to offering effective and 24/7 support to traders. They are consistently accessible to respond to inquiries, offer support, and interact with the community through email, live chat, and Discord. 

The office is situated in Raadhuisstraat 20, 1016DE, Amsterdam, The Netherlands. They assert their commitment to transparency and accessibility, encouraging traders to reach out at any time for inquiries, feedback, or correspondence.

To communicate directly, traders can contact us at support@brightfunded.com. The company values input and strives to reply swiftly and effectively to all requests and issues. We aim to prioritize client happiness and involvement by establishing a frictionless and friendly trading environment for our worldwide community of traders.

What Makes BrightFunded Unique? 

Several features are available on BrightFunded to improve and enrich the trading experience. Among these characteristics are the following:

1. Trade2Earn: This ground-breaking initiative gives traders BrightFunded Tokens in exchange for each trade they make. Traders can trade these tokens for different trading benefits.

Thus, an innovative program that compensates traders with BrightFunded Tokens for each trade conducted. Bright Funded traders can exchange these tokens for other trading benefits, offering a unique and gratifying experience.

2. Scaling Plan: By exhibiting steady performance, traders can raise their funded accounts to higher tiers, which improves their profit split ratio.

3. Trading Benefits: Traders can obtain advantages like lowered profit targets and increased drawdown limits by using their earned BrightFunded Tokens.

4. NFT Certificates: To add a collecting element to traders’ trading experience, BrightFunded provides traders with exclusive NFTs to mark their accomplishments.

BrightFunded Reviews: What Do Their Customers Say?

BrightFunded has a Trustpilot rating of 4.3 out of 5 stars, with 95 customer reviews. They are a Trustpilot-verified firm. The organization is doing well on this platform.

Brightfunded reviews

#1. Vinney King claims that after working with other prop companies in the business, this one has outperformed them all. On their platform, transaction execution has never faltered. Overnight swapping is free, and there are very few commission costs. He genuinely has no issues at all, and customer support responds quite quickly. Even though they are still in the evaluation phase, their dispute shows that they are a serious business that values its traders above anything else! Strongly advised by him!

Brightfunded review on Trustpilot

#2. According to Koba, the crew and the Discord community are incredibly encouraging and supportive, even if the company hasn’t officially started yet. To interact and give away free accounts, they also hold a lot of giveaways.

Would advise giving them a try.

Brightfunded reviews example

#3. According to Ron, this seems a little off. Rather than providing access to Metatrader, this platform provides its version of MT5. It executes incredibly slowly and doesn’t function the same way. Incredibly flawed and hard to use. Use caution when utilizing this platform since the broker is free to do what they choose. Although his balance has always been above the drawdown limit, it appears that his account breached it. 

He asked the company for a transaction log or liquidity record, but they are unable to offer these, presumably because they don’t have any. Read the regulations and use caution when using this prop company. Had he been aware of all these drawbacks, he would not have purchased this account. 

In retrospect, he was perplexed as to why, although utilizing their platform, it was never stated on the website that MT5 was unavailable. About 250 euros was lost by him to this company. Everyone, please exercise caution!

Brightfunded complaints

#4. According to Ugur Vatansever, on February 28, 2024, his account was stopped because the decrease in the cryptocurrency market caused the stop level on the pair he was trading to stop working. When he wrote to them, they responded that they had nothing to do with the issue and that it was typical of these unstable times. They offered no assistance. 

Because the system halted me at 98.5 when the stop level on the pair was 102.5, he lost his account. He believes that the liquidity provider that Brightfunded uses ought to be the company’s issue rather than mine. He is somewhat dissatisfied because he believed he could collaborate with this company without any issues.

Brightfunded complaint on Trustpilot

Conclusion

BrightFunded is a distinctive trading platform that differentiates itself through its unique methods for developing and engaging traders. The website provides a systematic Evaluation Process, a Trade2Earn program, and a friendly community for traders of various skill levels.

Although the membership costs and the intricate gamified structure may provide difficulties for users, the possible financial and personal rewards make it an attractive choice. BrightFunded offers a distinctive roadmap for anyone looking to turn their trading journey into a memorable experience. The platform prioritizes not only earnings but also the challenges, community, and adventure.

BrightFunded demonstrates potential in the trading industry. After analyzing the prices, reward strategies, and user feedback, we find that the company offers an exciting prospect. There is potential for enhancing transparency concerning specific details.

Account size up to:
$400,000
Profit Split Up t0 100%
*Choose your account type and start trading

3.0
Fees
3.0
Trading Platforms
4.0
Deposit and Withdrawal
3.0
Customer Support
3.3 Overall Rating

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BrightFunded Review
3.3/5
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