FX2 Funding Review
3.0

FX2 Funding Review

Is FX2 Funding a reliable prop firm? How good is their scaling plan? Find out the answers in this expert FX2 Funding review.

Pros
  • Offering up to 85% profit share
  • A scaling plan can increase account balance by 20% or more
  • Account scaling up to a maximum of $1,000,000
  • There is no time limit on trading; proceed at the trader’s speed
  • one-step approach for evaluation
  • The maximum size of an account is $200,000
Cons
  • Reduced withdrawal of capital from a live account is discouraged
  • No withdrawals are allowed while the process is scaling
  • The sixty-day account locking period is more lengthy
  • Policy for refunds is not guaranteed

What is FX2 Funding?

In January 2023, FX2 Funding, a prop trading company, was established. It is among the most recent and inventive businesses available on the market right now. The company’s goal is to provide investors and forex traders with an easy-to-use and flexible funding trading option. Giving users more freedom results in better long-term outcomes.

With its headquarters located in the United States, FX2 Funding works with Eightcap, a registered Australian broker, to manage its servers. FX2 Funding has been committed to providing traders in the foreign exchange market with a unique and valuable service since its establishment.

FX2 Funding distinguishes itself from its competitors by prioritizing the provision of unmatched flexibility to consumers in their trading endeavors. The organization has implemented a policy that permits all trading techniques and weekend positions, removed stop-loss limitations, and expedited the registration and review processes.

LOGO OF FX2 Funding

FX2 Funding Funding Programs and Challenges: Rules and Requirements 

FX2 Funding has reduced the number of trading regulations that must be followed to streamline the account approval procedure. The following are these guidelines:

1. Maximum Drawdown Rule: Traders are required to make sure that no more than 5% of their account’s entire balance is deducted in draws. The account will be temporarily closed in the event of such a drawdown until a 5% return is made. The account will start trading again once the necessary return is obtained.

2. Daily Drawdown Rule: Traders must refrain from taking more than a 4% loss in a single trading day to abide by the daily drawdown rule. To avoid such large losses in a single day, trade management and monitoring are essential.

3. The Inactivity Rule: It states that trader accounts must continue to be active and involved in trading to be eligible for an account. If an account remains inactive for more than thirty days, there’s a chance it will be closed. It is anticipated that traders will trade for a minimum of ten days to achieve profit targets.

There is no deadline set by FX2 Funding for finishing trades. But to be able to trade in the live-funded account offered by FX2 Funding, traders have to follow certain trading guidelines.

Check out the best forex funded accounts of this year.

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:

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.

FX2 Funding Broker: Do They Use a Reliable Platform? 

An easy and effective method for assessing traders with different backgrounds is provided by FX2 Funding. To execute trades as efficiently as possible, they have a choice between two trading platforms: the sophisticated MT5 and the intuitive MT4. Evaluation is simple because of the clear layout and easy-to-navigate dashboard. 

Traders must prove their trading abilities to be eligible for a live account, and they will get expert assistance as required. Through its blogs, the company offers top-notch instructional materials and risk management best practices. Simply select “Get funded” or “Funding Programs” from the “How Funding Works” dropdown menu to begin the account setup process. 

In three easy steps, select the challenge account size that best fits an expertise level, enter the information, and pay the applicable costs. Traders will receive login information for the chosen MetaTrader platform (MT4 or MT5) after completing the process. 

Trader at speed with any method they choose, including copy trading, news trading, and employing an EA. The user-centric strategy of FX2 Funding guarantees usability and accessibility, addressing the needs of intermediate and undercapitalized traders looking for substantial capital. Benzinga endorses FX2 Funding wholeheartedly.

FX2 Funding Fees: How Much Do They Charge? 

A range of account choices are offered to traders by FX2 Funding at transparent and affordable pricing structures. They can now take advantage of significant price reductions of between 30% and 50%. The fees for the Master’s account are $925, while the fees for the Starter and Intermediate accounts start at $95. One of the best values on the market for price is FX2 Funding. 

In contrast to most other prop organizations that charge a monthly fee, FX2 Funding provides outstanding value for their services. Impressive leverage ratios of 1:100 on forex pairs, 1:5 for indices, and 1:2 for cryptocurrency pairs are offered by them.

The refundable charge policy of FX2 Funding’s services is one of its best attributes. Traders should anticipate receiving their assessment cost back as part of their payment after they finish the evaluation procedure and submit the first payout request.

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.

FX2 Funding Proof of Payment:

Following funding, traders are eligible for their first dividend within 7 days, with additional payouts being made every 14 days after that. Since Deel.com handles all payments, registering for an account on the website is required. Traders can select from several payout options after registering, including bank transfers, PayPal, Payoneer, Revolut, Wise, Coinbase, and Binance.

FX2 Funding Customer Support: 

Traders can reach FX2 Funding in several ways:

  • Email protected at fx2funding.com
  • Phone: (516) 548-6471 +1

Join the social media networks:

  • 6,471 followers on Instagram
  • 3,335 followers on Twitter
  • YouTube: 17 videos and 305 subscribers
  • Facebook: forty thousand fans
  • 2,424 followers on TikTok
  • 1,704 followers on Discord

What Makes FX2 Funding Unique? 

User data security is something we at FX2 Funding take very seriously. To protect personal information, we use strong encryption technologies and industry-leading processes. While certain information may be gathered during registration that may be utilized for targeted marketing campaigns and customized service delivery, all of it is kept safe and secure online, protected from hackers and illegal access.

They strictly prohibit selling or exchanging user data with outside parties. Users can simply request such steps by contacting the company. Users have the right to have their information corrected, restricted, erased, transferred, objected to, or revoked.

FX2 Funding Reviews: What Do Their Customers Say?

 FX2 Funding has a rating of 4.1 stars out of 5 on Trustpilot, where 119 customers have left reviews. On Trustpilot, their company is verified. 

FX2 Funding prop firm Trustpilot

#1. This business pays attention to its requirements and makes sure they have access to all the resources necessary to develop into a reliable and successful trader.

Customer service is exceptional, commissions are highly competitive, and their challenges have extremely realistic, reachable targets. The onboarding procedure was also rather straightforward to utilize. they appreciate their help and the opportunity they have given us to turn our lives around.

FX2 Funding Trustpilot

#2. In line with Ryan Griffith Hello everyone, this is a great prop firm. The rules are clear-cut, they’re fair and friendly, and once they have a trading plan that works, they may be financed in a day. They also reply fast; after they complete their first task, they set up fast, which is something he likes about them. 

He lost his account because he became overwhelmed, overconfident, and let’s say a little greedy, which is the only reason he didn’t give them a five-star rating. However, these guys are excellent at placing and closing orders; he has already recommended them to some of my friends and will be buying a new challenge.

FX2 Funding Trustpilot review

#3. Raw spreads, according to Jting, are inaccurate. Even in cases where the market moves slowly, the amount he receives after they close is always withheld more than what was anticipated or observed. a propensity to safeguard greater earnings and make system adjustments

FX2 Funding reviews

#4. Idris declared that although the funding was adequate, it would be practically hard for someone to pass the drawdown because 6% is so difficult to maintain. If it’s true that Fx2 doesn’t want the majority of its clients to fail the review, then please adjust this overall DD to at least 10% for their clients’ obvious opportunities.

FX2 Funding review

#5. MaT claimed that they were lawbreakers. The props that employ the Eightcap scum criminal broker and the b book fake book broker are all straight-up scammers who stretch spreads or fake candles to take out SL. 

They create false candles or extend spreads solely to remove sl-Exactly to the pip!!!!! filth of the planet. and pricing misses so many times that it’s clear that this is a hoax. The dirt of the planet. Fair enough, FX2 is merely an eight-cap prop. Everything is well now that eight-cap is not involved.

FX2 Funding prop firm review

Conclusion

For traders of all skill levels searching for a straightforward and user-friendly trading platform, FX2 Funding is a fantastic alternative. To assist traders in making wise choices in the forex market, it provides a variety of instructional resources, flexible funding options, and affordable trading costs. 

The assessment procedure is simple, and traders may get round-the-clock assistance with any queries or problems they may have from customer care. FX2 Funding provides all the necessary resources for business owners and individual traders to thrive.

FX2 Funding’s flexible funding choices are among its strongest characteristics. Traders are free to select their favorite payment option, such as an e-wallet, credit card, or bank transfer. This implies that traders can begin trading immediately and with whichever payment option suits them the best.

Furthermore, FX2 Funding provides transparent trading fees that are competitive and free of any additional costs or commissions, so trader can concentrate on increasing their earnings.

Lastly, FX2 Funding offers customer assistance around the clock to assist them with any queries or problems they might encounter. This committed assistance is priceless, particularly for traders with little prior market knowledge.

Funding Up To:
$1,000,000
Profit Split Up To 80%
*Choose your account type and start trading

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

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FX2 Funding Review
3.0/5
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