FundYourFX Review

What is FundYourFX?

FundYourFX, established in 2021 and headquartered in London, is a proprietary trading firm specializing in a funded trader program for both novice and seasoned forex traders. At the core of FundYourFX is a unique operational model where traders gain access to fully funded live trading accounts without the need to provide their capital.

This distinctive approach enables traders to operate with account sizes of up to $1,000,000 and profit-sharing arrangements of up to 50%. Traders have the flexibility to trade a wide range of instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies. FundYourFX distinguishes itself by offering flexible trading rules, such as allowing overnight positions, news trading, and weekend trading activities.

The platform’s primary objective is to minimize the financial risks associated with personal investments by utilizing the firm’s funds for trading. Traders undergo an onboarding process and are subsequently provided with funded accounts, allowing them to retain a significant portion of their trading profits.

FundYourFX is renowned for its remarkable flexibility, allowing traders to implement diverse trading strategies, execute transactions at any time, and even employ expert advisors for automated trading. The platform offers multiple account levels, each varying in terms of initial balances, profit distribution ratios, and growth potential. This range of resources caters to individuals with varying levels of trading experience, from beginners to highly skilled practitioners.

FundYourFX is committed to ethical principles and a socially conscious trading environment, making it an attractive choice for those seeking a risk-averse and adaptable trading platform.

FundYourFX Funding Programs and Challenges: Rules and Requirements

FundYourFX employs a novel methodology in the realm of trading, offering distinct prospects to its traders. The platform’s interface is designed to be easily navigable and accessible to users while providing a wide range of trading options. These distinctive characteristics are specifically tailored to meet the needs and preferences of traders. This comprehensive guide provides a complete explanation of the functioning process.

The rating of FundYourFX exhibits notable divergence from other ratings commonly encountered within the proprietary trading sector:

• The initial step entails traders enrolling in the sponsored trader program.
• In the second phase, individuals are extended an invitation to participate in a phone interview, which serves as an opportunity to gain further insights into their trading experience.
• The third step in the process involves the approval stage, during which you will be notified of the outcome within a 24-hour, indicating whether your application has been approved. The contract and other requisite documentation will be sent to you to commence the process.
• Upon successful acceptance of your documents in step four, you will receive the login details for your funded account, enabling you to begin earning.

Upon receiving approval and securing funding, a payment of £297 is required. This payment encompasses expenses related to account establishment, license fees, administrative overhead, and the utilization of risk management and analysis tools. An initial capital of $15,000 is provided to commence trading activities within the company. The individual is entitled to a profit split of 50% based on their earnings and is also allowed to partake in the organization’s scaling strategy. It is possible to submit a request for an increase in account capital upon achieving a profit of 10% on each occasion. The account balance will be multiplied by two, with a maximum limit of $1,000,000 in capital.

The primary regulation that cannot be circumvented is the established threshold for maximum drawdown, which is set at 10%. Additional factors to be taken into account encompass transaction size limitations, prerequisites for stop-loss orders, and thresholds for stop-loss restrictions. Nevertheless, traders are permitted to engage in trading activities on the MetaTrader 4 platform, including the ability to execute transactions during news events and maintain positions overnight and over weekends.

FundYourFX: Do They Use a Reliable Platform? 

Trading Accounts with EightCap

FundYourFX partners with Eightcap, a renowned broker in the proprietary trading industry. Due to Eightcap’s reputation for providing competitive spreads, exceptional execution speed, and access to large liquidity pools, many firms favor this collaboration. Eightcap’s services contribute to the overall appeal of FundYourFX’s trading accounts.

Profit Targets and Scaling

When you engage in trading with FundYourFX, you will experience a structured approach to profit targets and scaling, such as:

• Profit Targets: Your payouts and account scaling occur at every 10% profit target achieved.
• Account Capital Increase: Upon reaching a profit target, your account capital will increase by 50–100%. Additionally, you will receive your share of the profits from the previous level at this point.
• Progressive Relaxation: As you advance through the levels and demonstrate your trading proficiency, the rules and restrictions imposed will become more accommodating.

Time Limits:

For effective management and evaluation, specific time limits are established for different levels:

Levels 1 to 4: Each of these levels operates within a 90-day time limit.

Level 4+: The advanced levels, designated as Level 4 and beyond, operate with an extended time limit of 180 days. This extended period allows for a more comprehensive evaluation and trading experience as you progress in your trading journey with FundYourFX.

FundYourFX Fees: How Much Do They Charge? 

Starter Plan

Cost: £147 (Refundable)

Begin your trading voyage with a funded account furnished with an initial balance of USD 6,000. This is your gateway to expanding your account to a substantial $500,000.

Standard Plan

Cost: £297 (Refundable)

Kickstart your trading journey with a funded account equipped with an initial balance of USD 15,000. Here’s your ticket to unlocking the potential to elevate your account to a remarkable $1,000,000.

Professional Plan

Cost: £577 (Refundable)

Embark on your professional trading expedition with a funded account carrying an initial balance of USD 30,000. Shoot for the stars, as your account possesses the potential to soar to an impressive $1,750,000.

FundYourFX Proof of Payment:

At this moment, there is no available documentation or evidence to substantiate any financial transactions or payments made to FundYourFX. It’s important to note that such proof of payment is a critical aspect when assessing the legitimacy and credibility of any company or financial entity.

However, it’s essential to recognize that this lack of evidence does not necessarily imply any wrongdoing by FundYourFX. The absence of proof of payment could be due to various reasons, such as privacy policies, confidentiality agreements, or simply a lack of publicly available information.

It is advisable to exercise caution and conduct thorough due diligence when dealing with any financial institution or company, especially if you intend to engage in financial transactions or investments. Be sure to seek updated information and verify the credibility of the company through official channels or trusted sources. Any future updates regarding proof of payment to FundYourFX will be provided as soon as such information becomes available.

FundYourFX Customer Support: 

FundYourFX provides several avenues for users to access additional information or seek assistance:

1. FAQ Page: If you have questions or need clarification on various aspects of FundYourFX, their FAQ (Frequently Asked Questions) page is a valuable resource. It contains a comprehensive list of commonly asked questions and answers, allowing users to quickly find the information they need.

2. Social Media Support: FundYourFX maintains an active presence on social media platforms. You can reach out to their support team through these channels, such as Facebook, Twitter, or Instagram. Social media can be an efficient way to get quick responses and updates.

3. Email Contact: For more specific inquiries or detailed assistance, you can contact FundYourFX directly via email at [email protected]. This allows for more personalized and written communication, making it suitable for complex questions or issues.

4. Phone Contact: FundYourFX also offers a phone contact option. You can reach them at +44 124 92812 221. Speaking with a representative over the phone can be beneficial when you require real-time support or have urgent matters to discuss.

These multiple communication channels demonstrate FundYourFX’s commitment to providing accessible and responsive support to its users. Whether you have general inquiries, need clarification on account details, or require assistance with specific issues, you have various options to connect with their support team and get the information you need.

What Makes FundYourFX Unique? 

With a distinctive approach that includes a four-step verification process and lax trading regulations with few restrictions, FundYourFX distinguishes itself from leading backers in the industry. These unique features empower traders to operate in ways that are often unavailable with other trading firms, such as the ability to trade during news events, hold positions overnight, and engage in weekend trading.

Four-Step Verification Process:

1. Sign Up: The journey begins with traders signing up for FundYourFX’s sponsored trader program, a straightforward and accessible starting point.

2. Phone Interview: In the second step, traders are invited to participate in a phone interview. This interview serves as an opportunity to delve into an individual’s trading experience and capabilities, helping FundYourFX gain a deeper understanding of the trader’s background.

3. Approval: After the interview, traders receive swift approval or rejection, typically within 24 hours. If approved, FundYourFX proceeds to send the necessary contract and documents to facilitate the trading journey.

4. Account Activation: Upon acceptance of the provided documents, traders are granted access to their funded trading account, complete with login details. At this point, traders are ready to embark on their path to earning profits.

Trading Flexibility:

FundYourFX’s distinguishing feature lies in its trading rules, which are notably relaxed and accommodating. Traders have the freedom to employ various trading strategies, provided they adhere to certain guidelines. The primary focus revolves around achieving profit targets without exceeding maximum withdrawal limits, respecting maximum trade sizes, complying with stop-loss requirements, and adhering to stop-loss limits.

In essence, FundYourFX offers a trading environment that fosters diverse strategies and allows traders to navigate the financial markets with minimal hindrances. This unique combination of a streamlined verification process and trading flexibility positions FundYourFX as a notable choice for traders seeking both opportunity and freedom in their trading endeavors.

Allegations against FundYourFX

Selling traders’ data:

One of the most serious allegations against FundYourFX is that it sells its traders’ data to third-party companies. This data can include personal information such as names, addresses, and email addresses, as well as trading data such as account balances, trade history, and profits and losses.

There is no evidence to support this allegation, and FundYourFX has denied it. However, the fact that the company does not have a clear privacy policy on its website has raised concerns among some traders.

Conflicts of interest:

Another allegation against FundYourFX is that it has conflicts of interest. For example, the company has been accused of trading against its traders and profiting from their losses.

FundYourFX has denied these allegations and stated that it has a strict code of conduct in place to prevent conflicts of interest. However, some traders remain skeptical.

Poor customer service:

FundYourFX has also been accused of providing poor customer service. Some traders have complained that it is difficult to get in touch with the company’s customer support team and that when they do manage to get in touch, they are often unhelpful.

FundYourFX has stated that it is committed to providing excellent customer service and that it is always working to improve its processes. However, some traders remain unhappy with the customer service they have received.

FundYourFX Reviews: What Do Their Customers Say?

Trustpilot:

On Trustpilot, FundYourFX has 4.6 stars out of 5 stars, and a total of 277 customers reviewed them there. They are a verified company on Trustpilot. The company is in an excellent state on this platform.

Trustindex:

On Trustindex, FunfYourFX has 4.8 stars out of 5 stars. A total of 969 customers have reviewed the firm here on this platform. The company here is in an excellent state.

Google Reviews:

On Google, the firm has 4.8-star ratings and 174 customer reviews. Some of its customers have complained about their money deductions and refunds, whereas some of them have no queries with FundYourFX.

Positive Customer Responses on Various Rating Websites:

#1. Muhammad Saleiman expresses no regrets about giving the platform a try. He discovered it through ads and decided to give it a chance, and to his pleasant surprise, they fully delivered on their promises without any issues. Thank you.

#2. Crownjoy Sales emphasizes that the company provides access to state-of-the-art trading platforms and essential tools needed for success in today’s dynamic forex market. They boast an impressive technology stack that empowers traders to execute precise and efficient trades.

#3. Terrance expressed that he had numerous inquiries and wished to ensure his complete comprehension of FundYourFX’s policies before proceeding to open an account. Adam proved to be highly informative and displayed great patience in addressing the multitude of questions.

#4. A recent customer of the platform has expressed the privilege of working on it, confidently affirming that the experience has been nothing less than exceptional. The firm has certainly set a high standard in the realm of prop trading.

#5. A customer of this proprietary trading firm attests that their services make trading a stress-free experience. They provide a dependable and user-friendly website, along with exceptional customer support.

Negative Customer Responses on Various Rating Websites:

#1. Alan warns of a UK FCA investigation into the company, urging caution due to suspicious circumstances. He highlights restrictive lot sizes and the closure of profitable accounts. The concerning aspect is that trading is allegedly not being executed as claimed, casting doubt on Live Accounts’ authenticity. Alan underscores the importance of vigilance and buyer awareness, as the situation raises questions.

#2. Blanca strongly asserts that these individuals are involved in fraudulent activities. They recommend visiting Trustpilot, setting the filter to one star, and reading the reviews there to gather all the necessary information. Blanca had a terrible personal experience with them, which aligns with numerous other one-star reviews on Trustpilot.

#3. Thamer asserts that dealing with them will not result in receiving a single dollar; they are scammers. Previously, he had achieved a 10% profit. However, upon requesting to withdraw the profits, his account was inexplicably closed, with an explanation that it had been violated. Furthermore, after requesting a withdrawal, his account was violated again. Currently, the account remains closed, and they claim it will stay that way for three months. Thamer expresses frustration, as despite having $2106 in two accounts, he has not received a single cent from them.

#4. Md Raid alleges that a significant portion of the 5-star reviews on this platform are not genuine. Furthermore, they note that the only means of communication with the platform is through email or messenger, and even then, responses are notably slow, often taking a month or more to address withdrawal requests. He points out that after making a payment, users are provided with an account, but there are no open forums or places for communication with fellow users. This lack of transparency leads to concerns that the platform engages in evasive practices once payment has been made.

#5. Sam reports that his comment was also deleted, and he received no response. He believes this company is engaged in fraudulent activities and advises against placing trust in them. He has reached out to customer service, but his interactions with them have been characterized by rudeness.

Wrapping it up:

In summary, FundYourFX offers a diverse and competitive trading experience with its wide asset coverage, low costs, transparent evaluation process, and time-limited trading sessions. It’s a compelling choice for traders looking for a dynamic and profitable venture in proprietary trading.

FundYourFX’s transparency and clarity in its evaluation process are commendable. By elaborating on the evaluation stages and criteria, the platform equips traders with the knowledge and guidance needed to navigate the intricacies of proprietary trading effectively.

It is important to note that the allegations against FundYourFX are just that: allegations. The company has denied all of them, and there is no concrete evidence to support any of them.

However, the fact that these allegations exist is something that potential traders should be aware of. If you are considering trading with FundYourFX, I encourage you to do your research and make your own decision about whether or not to trust the company.