Skilled Funded Traders Review
3.8

Skilled Funded Traders Review

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

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

Pros
  • Comprehensive evaluation of abilities across the board
  • Scale up gradually with an earnings potential of up to $2 million
  • Several payout options, including bitcoin
  • Challenges that are tailored to the abilities of various players
  • Periods of open-ended trading with a high priority on dependability
  • Demonstrated by a high Trust Pilot score
  • Authorization for news trading tactics
  • Authorization to Utilize Expert Advisors(EAs)
  • High leverage, up to a ratio of 1:100, is available
Cons
  • Challenge fees could be very expensive
  • Trade laws are stringent and have strong restrictions
  • Significant market volatility can have an impact on slippage
  • Restricted to 2-step challenges alone
  • Relatively new arrival on the scene

What are Skilled Funded Traders?

Skilled Funded Traders is a proprietary trading organization that aims to identify and develop trading skills by implementing a structured process of challenge and validation. It provides not just financial support but also a well-designed environment to assist traders in honing their skills.

The program has two assessment phases: the SFT Challenge and the subsequent SFT Verification phase. This strict procedure is designed to showcase reliable trading skills, enabling traders to secure funds and join the SFT Traders community.

Skilled Funded Traders was established by Omar Agag, Palden Bhutia, & Riz Iqbal, who collectively possess more than 15 years of trading experience. These three experienced people have vast expertise in both day trading & entrepreneurship. They aimed to establish a platform that not only funds traders but also offers vital information and mentorship to help them achieve exceptional success in the ever-changing Forex Market.

Their direct experience with proprietary organizations, along with their trading success, motivated them to develop a platform that provides exceptional support and ideal conditions for traders to thrive.

Logo of Skilled Funded Traders

Skilled Funded Traders Funding Programs and Challenges: Rules and Requirements 

SkilledFunded Traders offers personalized challenges designed for traders seeking sponsored possibilities. The company assesses traders’ talents through a simulated trading evaluation without subjecting them to financial dangers. Successful candidates have access to a funded trading account supported by substantial funds, enabling them to retain a percentage of their profits. 

The challenges emphasize disciplined risk management, and consistent trading efficiency, including adherence to pre-defined trading criteria. Traders must show proficient risk management abilities while achieving a consistently lucrative result, in line with the company’s dedication to fostering disciplined and successful trading methods. 

SkilledFunded Traders aims to find and assist traders with long-term potential in financial markets, providing them with the chance to trade significant funds with the business’s backing.

TWO-STEP RULE 

Profit Target Step 18%
Profit Target Step 24%
Max Daily Loss5%
Max Daily Drawdown
Max Loss10%
Max Drawdown
Min Trading Days Step 13
Min Trading Days Step 23
Max Trading Days Step 1
Max Trading Days Step 2
Profit Split​​Up to 90%

CHALLENGE PRICING 

Account Size 1 Step 2 Step 
$5,000$79
$10,000$139
$25,000$269
$50,000$339
$100,000$549
$200,000$1,049
$300,000$1,539

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.

Some of the most popular prop firm challenges are of The5ers and SurgeTrader.

Skilled Funded Traders Broker: Do They Use a Reliable Platform? 

Traders seeking to enhance their trading activities are typically attracted to the concept of obtaining funding from sites like Skilled Funded Traders. Acquiring funded status necessitates a thorough comprehension of the platform’s operations, requirements, & one’s trading abilities. Let’s examine the important elements traders should consider while thinking about becoming a funded trader through Skilled Funded Traders.

Skilled Funded Traders is associated with brokerage firms Eightcap and ThinkMarkets, which operate offshore & lack a sufficient and reputable trading license.

Eightcap is a well-known Australian Forex broker with a branch in the Bahamas, while ThinkMarkets, based in the UK, also has operations in Seychelles. Each of these offshore nations has lenient laws and is not considered a secure trading environment. 

Skilled Funded Traders Fees: How Much Do They Charge? 

Skilled Funded Traders offers a clear and complete funded trading program that allows traders to demonstrate their talents, use a proprietary trading platform, and potentially boost their profit split.

Traders initially receive 80% of the entire profits from their funded account. By efficiently adhering to the scaling plan, they can increase their profit split to 90%. The profit-sharing concept is well-organized and explicitly outlined to assist traders in optimizing their earnings.

Skilled Funded Traders charge a participation fee that is reimbursed to traders, along with their initial profit share, if they become funded. This price is a non-recurring upfront cost that is refundable, allowing traders to participate in the program without financial risk.

Skilled Funded Traders provides a respected trading community with strong risk control procedures, clear guidelines, and high-profit possibilities. Traders looking to confirm their trading abilities should investigate the services provided by Skilled Funded Traders.

Thus, for instance, 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 offering 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.

Skilled Funded Traders Proof of Payment:

Skilled Funded Traders exclusively utilizes cryptocurrency transactions for its deposit and withdrawal method. Users can deposit funds into their accounts using Bitcoin, Ethereum, USD Tether, and USD Coin. The withdrawal amount cannot be less than 25 USD. Cryptocurrency payments are more intricate than standard payment methods and do not allow for refunds through a straightforward chargeback or recall process.

If traders wish to take part in the evaluation program for Skilled Funded Traders, they must pay a fee. The fee structure is determined by the size of the evaluation account they choose. Costs vary from 67 USD monthly for a 10,000 USD account to 867 USD monthly for a 200,000 USD account.

Skilled Funded Traders Customer Support: 

To inquire, traders can contact Skilled Funded Traders by emailing support@skilledfundedtraders.com. Anyone may also find us on other social media platforms where we interact with our community. their Instagram profile has 15.8k followers and our YouTube channel has 2.85k subscribers with 50 videos. 

The Facebook page has 266 followers, while our Twitter profile has 28.5k followers. They may also locate us on TikTok, where we maintain a page with 93 followers. Additionally, they manage an active Discord community with 17,260 members who are encouraged to participate in discussions and share their perspectives.

What Makes Skilled Funded Traders Unique? 

Skilled Funded Traders provides exceptional service to traders who:

Traders aiming to increase their trading capital as well as advance their professional lives will be drawn to the platform’s progressive scaling strategy.

Individuals who appreciate the recognition of skills and respect a system that examines and acknowledges trading expertise & discipline will find an immediate connection with the challenge-based technique used by the trading platform.

Traders who value flexible withdrawal methods, such as the ability to withdraw in Bitcoin, may find the platform’s payout structure convenient.

Skilled Funded Traders Reviews: What Do Their Customers Say?

Skilled Funded Traders have received a rating of 4.5 out of 5 on Trustpilot. It has received 1,108 authentic consumer reviews.  

#1. General Bana stated that he was exerting significant effort to obtain his account credentials. After exhausting all attempts, he reached out to customer care where Mr. Daniel addressed the issue with a personal touch. He contacted the back office workers to address the issue and displayed a high level of professionalism. He was quite thankful since his hard work had resulted in his regaining possession of the account credentials. Thank you very much.

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#2. Ebuka Michael declared that the company is undeniably one of the top proprietary firms available, known for their simplicity and transparency. The company’s Discord network is highly beneficial, with exceptional customer service that responds promptly within seconds. Before exploring other proprietary trading firms, consider trying Skilled funded traders first as it will benefit them. 

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#3. Luis mentioned that he believes the customer support is generally excellent but suggests that certain rules should be clearer, particularly regarding important news to consider while trading under specific conditions. He desires more precise rules.

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#4. According to Leonardo Nguyen, he mentioned that the customer service is good, however, the KYC process and payout process are extremely slow. He has been waiting for about 2 days, and his payout request has not been accepted. After approval, he must wait for the reimbursement to be processed. If given the chance to start over, he would not select Skilled Funded Traders.

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#5. Andreea described it as a complete horror. Although they initially promised to allow a range of trading tactics, like as scalping, they have recently enforced a compulsory 5 pip stop loss regulation. This regulation did not exist when she signed up. Now they are imposing this regulation on everybody. She wanted a refund, but they declined to reimburse me. She is right now in the process of pursuing a bank chargeback to recover her money.

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Conclusion

Skilled Funded Traders is a superb option for traders looking to succeed in the trading sector. The platform provides meticulously crafted funding schemes, powerful risk management features, and a dedicated focus on teaching. Skilled Funded Traders seeks to empower traders with the confidence required to handle the ever-changing trading environment. 

Whether people are novices or seasoned traders, our platform can change their trading experience. It is a powerful platform for people seeking to enhance their trading expertise. The platform emphasizes talent assessment, abundant growth prospects, and a helpful group, creating a complete environment for trading expertise.

Account size up to:
$2,000,000
Profit Split Up to 90%
*Choose your account type and start trading

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

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Skilled Funded Traders Review
3.8/5
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