Funded Academy Review
4.0

Funded Academy Review

What do Funded Academy reviews say? Is this a reliable forex prop firm? Find out in this Funded Academy review on LizardLick.

Pros
  • Comprehensive Curriculum
  • Up to 80% profit split
  • Up to 1:200 Leverage
  • Bi-weekly payouts
Cons
  • Might be closed
  • Evaluation program can be rigorous
  • No demo account

What is Funded Academy?

Funded Academy is a cutting-edge online platform dedicated to equipping aspiring forex traders with the essential skills and knowledge required to succeed in the dynamic market. The platform boasts an all-encompassing curriculum, mentorship initiatives, and the unique opportunity for qualified traders to access a funded trading account.

Funded Academy, a relatively recent entrant hailing from Australia, distinguishes itself in the online prop trading arena. The firm claims to offer forex traders the exceptional chance to access up to $2,000,000 in trading capital, along with an unrivaled 80% profit-sharing scheme, setting an industry standard.

In addition to the remarkable profit-sharing arrangement, traders at Funded Academy benefit from realistic trading conditions, refundable challenges, and a leverage ratio of 1:200, ensuring they have all the tools required to meet their profit targets.

The unique scaling plan that Funded Academy offers enables accelerated capital growth; for every 10% increase in a trader’s account, the company doubles its trading capital, speeding compounding by a factor of 10.

Despite being a recent entrant, Funded Academy is rapidly earning its place as a favored choice among prop firms. The company anticipates that it will assert a dominant position in the market over the upcoming years. Let’s delve further into the details to discover what sets them apart.

At Funded Academy, they claim to extend funding to both novice and experienced traders after an initial evaluation stage. This challenge is time-flexible, but it necessitates at least one trade within a 30-day window. The objective during this testing phase is to achieve a 10% profit target. Once traders attain this milestone, the proprietary funding firm Funded Academy unlocks a live Raw account in partnership with the EightCap broker. This raw spread account is tailored to seasoned traders seeking stability with ultra-low spreads. The spectrum of tradable assets encompasses currencies, cryptocurrencies, stocks, indices, and metals.

Furthermore, traders are empowered to employ expert advisors, engage in news-based trading, conduct overnight trades, and even trade on weekends, with the only restriction being a drawdown cap of up to 5% for total drawdown and 4% for daily drawdown. Funded Academy offers a generous profit split of 70%. Notably, there exists an initial fee contingent on the desired account balance, while no subscription fees are imposed, and the firm refrains from withholding withdrawal fees.

Funded Academy logo

Funded Academy Funding Programs and Challenges: Rules and Requirements 

Funded Academy provides traders with two unique financing schemes, namely Standard Challenge Accounts and Extended Challenge Accounts.

Standard Challenge Accounts:

Funded Academy’s Standard Challenge Account is meant to attract experienced and responsible traders. People who do well during a two-phase evaluation period will be rewarded based on how consistently they perform. This account allows for trading with a leverage ratio of 1:100. 

The account sizes and pricing options can be delineated as follows:

The pricing for different account sizes is as follows: an account size of $10,000 incurs a price of $80, an account size of $25,000 incurs a price of $165, and an account size of $50,000 incurs a price of $265. The amount of $100,000 is equivalent to $480.

Evaluation Phases: Phase 1:

  1. The objective is to achieve a profit target of 8%.
  2. The maximum daily loss is 5%.
  3. The maximum potential loss is 10%.
  4. The minimum number of trading days required is four.
  5. The maximum number of trading days is 30.

Evaluation Phases: Phase 2:

  1. The objective is to achieve a profit target of 4%.
  2. The maximum daily loss is 5%.
  3. The maximum potential loss is 10%.
  4. The minimum number of trading days required is four.
  5. The maximum number of trading days is 60.

After the completion of both evaluation processes, traders are granted a funded account without any specified profit targets. After 14 calendar days from the first trade, the first payment is made. It includes 80% of the profit made from the funded account, 20% of the profit made from Phase 2, and a return of 125% of the initial charge. Following the initial scaling, subsequent distributions change to a biweekly frequency, with an increase in profit splits to 85%. After the second scaling, the profit splits further, rising to 90%. The maximum loss rule exhibits a linear relationship, whereby each successful withdrawal results in a 1% increment until reaching a threshold of 15%.

Scaling Plan:

Standard Challenge Accounts have a scaling plan that requires reaching a profit target of 10% or more within four months, with two profitable months. Traders receive a 25% increase in their account balance. The trading instruments available for Standard Challenge Accounts encompass a range of financial assets, including FX pairs, commodities, indices, and cryptocurrencies.

The concept of extended challenge accounts refers to specialized financial accounts that are designed to provide individuals with opportunities to engage in more complex and demanding investment strategies. These accounts are often offered

To increase their capacity for making money, Funded Academy has created the Extended Challenge Account to find and support traders who exhibit a high level of dedication and expertise. This account facilitates trading with leverage of up to 1:10.

The account sizes and pricing options can be outlined as follows:

Account SizePrice
$25,000$200
$50,000$400
$100,000$725
$250,000$1,800
$500,000$3,550
$1,000,000$7,100

Lastly, the evaluation phase is a critical component of the research process. It involves the systematic assessment and analysis of data, findings, and conclusions

The evaluation phase involves assessing and analyzing the data collected during the research process.

  • The desired profit objective is set at 10%.
  • The maximum daily loss is 4%.
  • The maximum trailing drawdown is limited to 5%.
  • There are no stipulated minimum or maximum trading day requirements.
  • After the successful completion of the evaluation phase, traders are granted a funded account that does not have any specified profit targets.
  • The initial distribution of 70% of profits can be requested following a period of 30 calendar days, with further disbursements occurring on a monthly schedule.
  • There is no provision for a scaling plan in the case of Extended Challenge Accounts.

The trading instruments available for Extended Challenge Accounts encompass a range of financial assets, such as FX pairs, commodities, indices, stocks, and cryptocurrencies.

Additional Options: 

Extended Challenge Accounts offer traders the opportunity to enhance their trading experience by selecting supplementary features for an extra fee. These features encompass the ability to engage in trading activities on weekends, leverage that is twice the standard amount, and the exemption from a mandatory stop-loss requirement.

What makes Funded Academy unique? 

Funded Academy stands out among industry-leading prop firms by providing two distinct funding programs: Standard Challenge and Extended Challenge Accounts. These programs offer traders exceptional flexibility in their trading styles, allowing for news trading, overnight holdings, and weekend trading (available with an add-on, specifically for Extended accounts).

Standard Challenge Accounts:

Compared to other prop firms, Funded Academy’s Standard Challenge is a comprehensive, two-phase evaluation program. Traders must complete both phases before becoming eligible for payouts. The program sets profit targets at 8% in Phase 1 and 4% in Phase 2, with strict 5% maximum daily loss and 10% maximum loss rules. Furthermore, a minimum trading requirement of four days is imposed for each phase. Standard Challenge accounts also feature a scaling plan.

Comparison with E8 Funding:

Trading ObjectivesFunded AcademyE8 Funding
Phase 1 profit target8%8%
Phase 2 profit target4%5%
Maximum daily loss5%5%
Maximum loss10%8%
Minimum trading days4 calendar daysNo minimum trading days
Profit split80% up to 90%80%

Comparison with Finotive Funding:

Trading ObjectivesFunded AcademyFinotive Funding
Phase 1 profit target8%7.5%
Phase 2 profit target4%5%
Maximum daily loss5%5%
Maximum loss10%10%
Minimum trading days4 calendar daysNo minimum trading days
Profit split80% up to 90%75% up to 95%

Comparison with FundedNext:

Trading ObjectivesFunded AcademyFundedNext
Phase 1 profit target8%10%
Phase 2 profit target4%5%
Maximum daily loss5%5%
Maximum loss10%10%
Minimum trading days4 calendar days5 calendar days
Profit split80% up to 90%80% up to 90%

Extended Challenge Accounts:

In contrast to many prop firms, Funded Academy offers an Extended Challenge, which is a streamlined one-phase evaluation program. Traders must hit a profit target of 10% while adhering to a 4% maximum daily loss, a 5% maximum trailing drawdown, required stop-loss, and lot size limit rules. Notably, there are no specific minimum or maximum trading day requirements for Extended Challenge Accounts.

Funded Academy Fees: How Much Do They Charge?

Funded Academy offers a transparent fee structure for its trading services, encompassing both trading commissions and spreads. These fees vary depending on the asset class you choose to trade.

Here’s a detailed breakdown of the trading fees:

Trading Commission:

  1. FOREX: For forex trading, a trading commission of 7 USD per lot applies.
  2. COMMODITIES: There is no trading commission associated with commodity trading; it’s set at 0 USD per lot.
  3. INDICES: Trading indices also incur no commission, with a rate of 0 USD per lot.
  4. STOCKS: For US stocks, a commission of 4 USD per lot is applied. UK stocks, on the other hand, are charged at 0.01% per lot.
  5. CRYPTO: Cryptocurrency trading at Funded Academy comes with zero trading commission, resulting in 0 USD per lot.

Funded Academy Proof of Payment:

Funded Academy, established on July 29, 2021, offers distinct payout schedules for its trading programs. Standard challenge accounts receive bi-weekly payouts, while extended challenge accounts receive monthly payouts. Proof of payments and further insights into Funded Academy’s offerings can often be found on their Discord channel, providing transparency and support for their traders.

Funded Academy collaborates with two reputable brokers. For standard challenge accounts, they utilize IronFX, an award-winning broker founded in 2010. IronFX serves a diverse clientele across numerous countries in Europe, Asia, the Middle East, Africa, and Latin America, catering to retail and institutional customers. On the other hand, extended challenge accounts are affiliated with Eightcap, an ASIC-regulated broker based in Melbourne, Australia. Since its inception in 2009, Eightcap has been dedicated to delivering top-notch financial services to its clients.

In terms of trading platforms, Funded Academy offers a choice between MetaTrader 4 and MetaTrader 5, allowing traders to select the platform that best suits their preferences and trading strategies.

Funded Academy Customer Support:

Funded Academy recognizes the importance of robust customer support services to assist its partner traders in swiftly addressing their concerns and inquiries. The firm offers two primary methods for clients to contact their technical support team, ensuring that assistance is readily accessible. These contact options are email and participation in the official Discord channel. Discord is often the preferred choice for expedited communication, as email responses may sometimes be less immediate.

? Advantages:

  • Experts on Discord: Funded Academy maintains a team of experts who are consistently available on the Discord platform, ready to address your questions and concerns.
  • Active Community: The prop firm’s Discord channel fosters a highly active community, allowing traders to engage in discussions with their peers and benefit from a collaborative learning environment.

? Disadvantages:

  • Lack of a Call Center: Funded Academy does not offer a call center for direct phone communication, which is typically the fastest mode of support.

Traders can initiate contact with Funded Academy’s technical support through the following channels:

  1. Email: Traders can contact the support team via email.
  2. Official Discord Channel: The official Discord channel is a robust platform for real-time communication with the support team and fellow traders.

Notably, Funded Academy maintains a presence primarily on Discord for social interaction, making it the most expedient avenue for reaching out to the support team. However, there may be instances where email communication is necessary, such as submitting withdrawal requests or addressing specific inquiries.

Contact Information:

Registration Address: 50 Clarence St, Sydney, NSW 2000

Regulation: FCA, ASIC

Official Website: fundedacademy.com.au

Email: hello@funded.academy

Funded Academy’s customer support services are designed to ensure that traders have effective means of communication and access to expert assistance as they navigate the world of trading.

Funded Academy Reviews: What Do Their Customers Say?

Trustpilot Reviews:

On Trustpilot, the Funded Academy has 3.8 stars out of 5 stars. They are on the great stage by the platform. Customers have posted a total of 26 reviews on Trustpilot. 

Funded Academy reviews page on Trustpilot

Customer reviews on Trustpilot:

#1. Steve Cunningham speculates that Funded Academy may have gone out of business. While the trading platform and dashboard remain accessible, the absence of Discord support and the lack of responses to emails have raised concerns. Steve, who holds a 50k extended account and has made significant progress toward the 10% target, believes that the absence of communication warrants a low rating. It appears that the company may have ceased operations, though its status remains uncertain.

Funded Academy reviews on Trustpilot

#2. Conrad initially voiced criticism towards Funded Academy, but after a year of thorough research, he has come to recognize them as a legitimate and reputable company. He acknowledges their strong performance and expresses gratitude for their contributions to the trading community

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#3. Cosh expresses disappointment in the lack of support, noting that it appears the company continues to accept funds without providing the expected level of service. Additionally, they caution that commenting on Discord for support leads to removal. A word of caution is advised.

#4. According to Gary Abraham, one effective method to prove your potential as a successful trader, both to Funded Academy and yourself, is by engaging in the Challenge system. In his view, anyone with a genuine commitment to trading in the FOREX market should undoubtedly explore what a sponsored academy has to offer.

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#5. Candice Ferg expresses a lack of recommendation for this company, citing a perception that their primary focus is on fee collection rather than nurturing a community of successful traders. The trading experience of a loss trade being followed by a larger trade, which resulted in additional losses as a result of delays in trade execution through a trade copier, is given as an example. This approach was seen as resembling martingale trading, an approach not typically observed in other funded account companies. Candice advises against investing time in this company and suggests exploring alternative options from other reputable companies.

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Wrapping up with Funded Academy:

In conclusion, the comments from various individuals provide diverse perspectives on Funded Academy. While Funded Academy boasts a range of advantages, such as a comprehensive curriculum, mentorship programs, funded trading accounts, and various trading styles, there are notable drawbacks to consider. These include program costs, rigorous evaluation processes, limited online reviews with mixed feedback, and specific limitations on lot sizes.

Additionally, the absence of a free trial or demo account is a noteworthy limitation. The choice between monthly payouts and a 1:10 leverage for extended challenge accounts could also impact potential traders’ preferences.

Account size up to:
$2,000,000
Profit Split Up to 80%
*Choose your account type and start trading

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

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Funded Academy Review
4.0/5
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