Traders seeking prop firm funding often encounter a sea of options, each with its own set of rules, platforms, and payout structures. Some firms might have overly restrictive risk parameters, while others have clunky trading platforms that hinder your execution. Perhaps the most concerning aspect is the question of legitimacy: will they actually pay you when you turn a profit?
This Funded Peaks review aims to shed light on these uncertainties. We’ll look deep into their prop trading program, analyze their trading environment, explore any unique features they offer, and finally, dissect their payout structure – the make-or-break factor for most traders. By the end of this review, you’ll have a clear picture of whether Funded Peaks is the prop firm that elevates your trading journey.
About Funded Peaks
Funded Peaks is Germany’s first evaluation prop trading firm, established by experienced trading professionals and experts from the brokerage industry. The firm provides traders with a structured environment and the resources necessary to succeed.
Funded Peaks was created to allow traders to leverage external funding, with access to up to $600K. The firm supports traders’ growth, helping them develop into proficient fund managers through expert guidance and comprehensive tools.
Funded Peaks’ mission is to provide traders with the tools and resources they need to excel. The firm emphasizes efficiency and profitability through streamlined operations and automation. Key features include a profit split of up to 90%, easy setup, rapid payouts, and a community-oriented environment.
Key Features of Funded Peaks
- Profit Split: Offers up to 90%, allowing traders to retain a significant portion of their earnings.
- Efficient Operations: Streamlined processes and automation enable rapid payouts and straightforward setup.
- Community Environment: Provides a supportive environment for traders.
- Funding Opportunities: Access to up to $600K in funding.
Funding Program Options
Funded Peaks offers a variety of funding programs to cater to different trading styles and goals. They provide both 1-step and 2-step challenge accounts, each designed to evaluate and fund traders based on their performance.
Challenge Account Options:
- Standard Challenge: This two-step account provides a comprehensive evaluation process. You’ll need to navigate two phases to demonstrate your trading proficiency and secure funding.
- Pro Challenge: For experienced traders seeking a cost-effective entry point, the Pro Challenge presents a streamlined two-step evaluation, mirroring the Standard Challenge in its core structure while incorporating limitations to cater to budget-conscious individuals.
- Rapid Challenge: For those seeking a faster route to funded status, the one-step Rapid Challenge might be a good fit. Be prepared to hit the ground running and showcase your skills.
Funded Peaks offers accounts starting from $5,000 up to $300,000, giving traders a wide range of options to choose from based on their risk appetite and trading goals.
We will look into the specifics of each challenge type later in this review, providing a comprehensive understanding of the requirements and benefits of each program.
PeakElite Fund Manager Program: The Next Level
In addition to their challenge accounts, Funded Peaks offers the PeakElite Fund Manager program. This program allows traders to become authentic fund managers, conducting trades from genuine trading floors and supported by a legitimate investment fund. We will explore the benefits and details of this program further in the review.
Fees
Funded Peaks offers competitive pricing for their various challenge accounts, with the added benefit of a refundable fee on your third payout. Here’s a breakdown of the fees for each challenge type:
Standard Challenge Fees
- $5,000 Account: $51
- $10,000 Account: $129
- $25,000 Account: $220
- $50,000 Account: $365
- $100,000 Account: $570
- $200,000 Account: $1080
- $300,000 Account: $1549
Pro Challenge Fees
- $10,000 Account: $72
- $25,000 Account: $169
- $50,000 Account: $270
- $100,000 Account: $430
Rapid Challenge Fees
- $10,000 Account: $91
- $25,000 Account: $169
- $50,000 Account: $280
- $100,000 Account: $520
- $200,000 Account: $960
Payment Methods and Access
Funded Peaks currently accepts payments via debit/credit card and cryptocurrencies, including BTC, LTC, ETH, USDT (Tron), and USDC. Once the signup process is completed and your payment is confirmed, you will get instant access to your account. If you don’t see the confirmation email, make sure to check your spam folder.
The fees for these challenges are refundable upon reaching your third payout, making the initial investment more attractive and reducing long-term costs.
Tradable Assets
Funded Peaks provides a diverse range of tradable assets, each with specific leverage options to cater to different trading strategies. Here is an overview of the available assets and their corresponding leverage:
Available Assets and Leverage
- Forex: Leverage of 1:50
- Indices: Leverage of 1:30
- Gold & Silver: Leverage of 1:30
- Gas & Oil: Leverage of 1:20
- Cryptocurrencies: Leverage of 1:2
Commission Structure
- Forex and Commodities: A commission of $2 per lot applies to these asset classes.
- Indices and Cryptocurrencies: No commission is charged for trading indices or cryptocurrencies.
Additional Features
- Weekend Trading: Cryptocurrency trading is enabled over the weekend, providing more flexibility for traders to capitalize on market opportunities outside traditional trading hours.
Funded Peaks offers a well-rounded selection of assets with competitive leverage and commission structures, ensuring traders have the tools needed to implement their trading strategies effectively.
Trading Platform and Broker
Funded Peaks, leveraging their experience in the brokerage industry, offers a structured trading environment focused on essential functionalities for traders.
Funded Peaks prioritizes fast execution speeds and raw spreads. This aims to ensure your trades are filled efficiently and minimizes potential slippage. The focus here is on reliable order processing and minimizing discrepancies between your intended and executed prices.
Platform Options:
Funded Peaks provides a selection of established trading platforms to accommodate individual preferences:
- cTrader: This platform is known for its user-friendly interface and advanced charting tools.
- DXTrade: This platform is specifically for US traders and offers a comprehensive trading experience.
- Platform 4: A widely used and reliable platform, Platform 4 is favored by many traders for its stability and customization options.
- Platform 5: The successor to Platform 4, Platform 5 offers additional features.
Important Note: Currently, US traders are limited to the DXTrade platform. Confirm platform availability in your region before signing up.
Funded Peaks provides a combination of reliable execution and a variety of trading platforms. This allows you to choose the environment that best suits your trading needs and preferences.
Challenge
Funded Peaks offers three types of trading challenges designed to evaluate and fund traders based on their performance: the Standard Challenge, the Pro Challenge, and the Rapid Challenge. Each challenge has specific rules and requirements.
Standard Challenge
The Standard Challenge is a 2-step evaluation process with account sizes ranging from $5,000 to $300,000.
- Trading Period: Unlimited
- Minimum Trading Days:
- Step 1: 3 days
- Step 2: 3 days
- Funded Trader: 1 day
- Profit Target:
- Step 1: 8%
- Step 2: 5%
- Funded Trader: None
- Maximum Daily Loss: 5%
- Maximum Overall Loss: 12%
- Drawdown Type: Balance
- News Trading and Weekend Holding: Allowed
- Refundable Fees: Refund on 3rd payout
Pro Challenge
The Pro Challenge is a 2-step evaluation process aimed at more experienced traders, with account sizes ranging from $10,000 to $100,000.
- Trading Period: Unlimited
- Minimum Trading Days: 4 days for both steps and for funded traders
- Profit Target:
- Step 1: 8%
- Step 2: 5%
- Funded Trader: None
- Maximum Daily Loss: 5%
- Maximum Overall Loss: 10%
- Drawdown Type: Equity & Balance
- News Trading: Allowed during the evaluation, not allowed for funded traders
- Weekend Holding: Allowed
- Refundable Fees: Refund on 3rd payout
Rapid Challenge
The Rapid Challenge is a single-step evaluation designed for quick funding, with account sizes ranging from $10,000 to $200,000.
- Trading Period: Unlimited
- Minimum Trading Days:
- Challenge: 0 days
- Funded Trader: 1 day
- Profit Target:
- Challenge: 10%
- Funded Trader: None
- Maximum Daily Loss: 3%
- Maximum Overall Loss: 6% (Trailing)
- Drawdown Type: Equity & Balance
- News Trading and Weekend Holding: Allowed
- Refundable Fees: Refund on 3rd payout
We’ll explore the specifics of these challenges, including their requirements and benefits, later in this review. We’ll also go deeper into the PeakElite Fund Manager program, another exciting opportunity offered by Funded Peaks.
Features
PeakElite Fund Manager Program
Successfully navigating a Funded Peaks challenge unlocks the door to their PeakElite Fund Manager Program. This program elevates qualified traders beyond the initial funded account stage, offering a glimpse into the world of professional fund management. Here’s what awaits you:
Program Highlights
- Trade 7-Figure Capital: Manage up to seven figures in capital.
- Monthly Salary: Generate a significant monthly income through strategic trading.
- Real Trading Floors: Options to trade from exclusive locations such as Dubai, Miami, and more.
Becoming a PeakElite Trader
The PeakElite Fund Manager Program is structured in tiers, with each tier offering different benefits and requirements:
Tier 1
- Minimum Requirements:
- 6 withdrawals on one account within 4 months
- 5% daily drawdown limit
- 12% maximum loss
- Benefits:
- Weekly withdrawals
- 85% profit split
Tier 2
- Minimum Requirements:
- 10 withdrawals on one account within 6 months
- 6% daily drawdown limit
- 12% maximum loss
- Benefits:
- Anytime withdrawals
- 90% profit split
Note: Traders need to qualify for the PeakElite Program on each individual account they have.
Requirements and Skills
To be eligible for the PeakElite Fund Manager Program, traders must meet the following conditions:
- Consistency Rule: Consistent and profitable trading style.
- Low-Risk Trading Style: Maximum of 1-2% risk per trade. Traders using higher risk will not be eligible.
- Reliability and Trustworthiness: Adherence to all trading rules and no violations.
Conditions to Join PeakElite
- 4 Months Minimum: Traders must have traded with Funded Peaks for at least 4 months.
- Low Risks: Trade with low risk for a 4-month period. High-risk trading styles are not eligible.
- 6 Payouts: Traders must have received at least 6 payouts.
- Respect Our Rules: Compliance with all Funded Peaks’ trading rules at all times.
- 15% Profit: Earn at least 15% profit in total with Funded Peaks.
The PeakElite Program transcends mere funding. It unlocks a unique gateway to becoming a genuine Fund Manager. Imagine yourself conducting trades from real trading floors, backed by the resources of a legitimate investment fund. This program can be the catalyst that transforms your trading aspirations into a fulfilling career, provided you possess the necessary skills and unwavering drive.
Comparing PeakElite Fund Manager Program and FTMO Premium Programme
Both Funded Peaks’ PeakElite Fund Manager Program and FTMO’s Premium Programme cater to elite traders by offering structured progression systems and significant rewards. Let’s look into their structures and key features:
Structure and Requirements
Both programs are tiered, with increasing benefits as traders progress:
- Funded Peaks:
- Tier 1: Requires 6 withdrawals within 4 months, offering weekly withdrawals and an 85% profit split.
- Tier 2: Requires 10 withdrawals within 6 months, providing anytime withdrawals and a 90% profit split.
- Tier 3: Available for traders with a proven track record, offering a customized competitive package.
- FTMO:
- Prime Status: Requires an active FTMO Account, no failed accounts in 4 months, and achieving 4 rewards with 4% profitability. Benefits include a free FTMO Challenge, dedicated support, 90% reward, and up to $600K allocation.
- Supreme Status: Requires an active $400K demo account, Prime Status for 3 months, and 3 rewards with 4% profitability. Benefits include all Prime benefits, $1M allocation, no daily loss limit, and eligibility for Quantlane.
Both programs emphasize consistent, low-risk trading with limitations on maximum trade risk (1-2% per trade for Funded Peaks). Funded Peaks has additional requirements, including a minimum of 4 months trading with at least 6 profitable withdrawals and a cumulative profit of 15%. FTMO, on the other hand, requires a cumulative profit of 16%.
Benefits and Opportunities
- Funded Peaks: Offers the ability to trade up to seven figures in capital, receive a monthly salary, and trade from real trading floors in prestigious locations such as Dubai and Miami.
- FTMO: Provides a pathway to Quantlane, a traditional proprietary trading firm, offering a 2-year contract, competitive bonus scheme, custom platforms, and institutional trading conditions.
Both the PeakElite Fund Manager Program and the FTMO Premium Programme provide elite traders with opportunities to elevate their trading careers. Funded Peaks focuses on offering real trading floors and monthly salaries at OTS, while FTMO includes a path to professional trading at Quantlane. Each program is designed to reward consistent, low-risk trading and provide substantial career advancement opportunities.
Payout
Funded Peaks offers a straightforward and flexible payout process designed to ensure traders can easily access their profits.
Payout Methods
Funded Peaks utilizes Rise, a user-friendly online payment processor similar to Deel, to handle all payouts. Here’s how it works:
- Account Setup: Create an account on Rise.
- Contract Signing: Funded Peaks will send you a contract to sign.
- Payout: Once signed, your well-deserved profits are deposited directly into your Rise wallet. From there, you can seamlessly withdraw them to your bank account or explore a variety of withdrawal methods offered by Rise.
Profit Split and Scaling Program
Funded Peaks rewards your trading success with a tiered profit split system. The more profitable you are, the larger your share of the pie becomes:
- Start Strong: You begin with a competitive 80% profit split right off the bat.
- Maximize Your Earnings: The scaling program allows you to increase your profit split to 90%!
Scaling Program Requirements:
To be eligible for account scaling (increasing your capital size), you’ll need to demonstrate your trading prowess by meeting these criteria:
- Seasoned Trader: Your account must have been active for at least 3 months.
- Consistent Profits: You’ll need to achieve a minimum cumulative profit of 10%.
- Profitability Track Record: Prove your skills by maintaining profitability in at least 2 out of the past 3 months.
If you meet these requirements, congratulations! You’ll be able to request a 25% increase in your account balance every 3 months, all the way up to $1.5 million. To initiate this, simply contact Funded Peaks’ team via email at support@fundedpeaks.com for an account review.
Requesting a Payout
Funded Peaks keeps the payout process refreshingly easy:
- Dashboard Payout Button: Once eligible, a convenient “Payout” button will appear on your dashboard.
- Fast Access to Funds: The initial payout becomes available a mere 14 days after your first trade on the account. Remember, for a smooth payout, ensure all trades are closed before requesting it.
Payout Eligibility
To ensure you can continue to enjoy these seamless payouts, adhering to account rules is crucial. Violations may result in forfeiting profit split, payout, or even the registration fee refund.
Trailing Drawdown and Payouts
Funded Peaks utilizes a trailing drawdown system that impacts your account balance and maximum drawdown buffer, applicable only to the Rapid Challenge. Here’s a simplified explanation:
- Drawdown Buffer: This acts as a safety net, preventing you from exceeding the maximum allowed drawdown on your account.
Example Scenarios:
Imagine you have a $100,000 account with the following situations:
- Profitable Streak: With an $8K profit, requesting a $6,000 payout keeps your maximum drawdown comfortably locked at $100,000, leaving a healthy 2% buffer zone.
- Continued Success: Even with a $15K profit and an $8,000 payout request, the maximum drawdown stays capped at $100,000, ensuring a safe $7,000 buffer.
- Reaching the Limit: Unfortunately, requesting the full $6,000 profit when you only have $6,000 in profit triggers an account failure by depleting the buffer and exceeding the maximum drawdown limit.
- Smart Risk Management: Even with a $4,000 payout, the maximum drawdown remains at 6% of your highest account balance ($104,000), demonstrating the importance of maintaining a buffer.
These examples illustrate the importance of maintaining a buffer to avoid hitting the maximum drawdown limit and failing the account.
How To Join Funded Peaks?
Joining Funded Peaks and starting your journey to become a funded trader is straightforward. Follow these steps to get started:
- Challenge Selection:
Funded Peaks provides tiered challenges catering to various experience levels and risk tolerances. Choose from:
- Standard Challenge: A two-phase evaluation for a comprehensive assessment.
- Rapid Challenge: A one-step challenge for a faster track to evaluation.
- Pro Challenge: A two-step evaluation designed for experienced traders.
- Starting the Challenge:
Once you’ve chosen your challenge, click “Start Challenge” to proceed to checkout.
- Platform Selection:
Select your preferred trading platform from the available options. If you are from the US, you can only choose DXTrade:
- cTrader
- DXTrade (US traders)
- Capital Selection:
Decide on the initial capital amount you’d like to trade with based on your comfort level and risk tolerance.
- Optional Add-Ons:
Funded Peaks may offer optional add-ons, such as increasing your profit split percentage. Consider these based on your needs.
- Discount Codes:
If you have a discount code obtained from Funded Peaks’ social media channels (listed elsewhere), enter it at checkout.
If you have a discount code, enter it at checkout. Be sure to check Funded Peaks’ social media for discount codes:
- Order Completion:
Review your selections and click “Complete Order.” Enter your billing information and click “Place Order” to finalize your purchase.
That’s it! You’ve now taken the first step towards becoming a funded trader with Funded Peaks.
Funded Peaks – Is it the Right Funding Program for You?
Funded Peaks offers a comprehensive suite of features tailored for aspiring funded traders. Here’s a balanced overview to help you decide if it’s the right fit for you:
Strengths
- Scalable Capital: Successful performance can unlock account scaling, increasing your trading capital by 25% every 3 months, up to a maximum of $1.5 million.
- Profit Sharing: The program offers a starting profit split of 80%, with the potential to reach 90% through consistent profitability.
- Trading Environment: Access a stable trading infrastructure with fast execution speeds and raw spreads on popular platforms like cTrader, DXTrade, MT4, and MT5.
- Asset Diversity: Trade a wide range of assets, including Forex, Indices, commodities like Gold & Silver, and Cryptocurrencies.
- Professional Development Path: Qualified traders can potentially join the PeakElite Fund Manager Program, granting access to trade with significant capital, receive a monthly salary, and work from real trading floors in desirable locations.
Considerations
- Evaluation Challenges: Carefully research the requirements and rules of the evaluation process. Funded Peaks offers three challenges (Standard, Rapid, and Pro) with varying criteria, including profit targets, maximum loss limits, and daily drawdown rules.
- Risk Management Focus: The program emphasizes low-risk trading strategies (1-2% risk per trade) to qualify for higher tiers and professional programs.
- Consistency and Compliance: Maintaining a consistent and profitable trading style while adhering to all program rules is crucial for success and eligibility for account scaling and professional programs.
The Bottom Line
Funded Peaks caters to traders seeking to develop their careers in a structured and supportive environment, with potential for capital growth. The program’s performance-based rewards, risk management tools, and potential access to the PeakElite program offer valuable benefits. However, it’s important to assess your goals, risk tolerance, and ability to comply with the program’s requirements to determine if Funded Peaks is the right fit for you.
Interested in exploring further? Funded Peaks’ website offers detailed information about their program options, funding tiers, and FAQs. Visit their site to see if it’s a good fit for you.
Funded Peaks Review Details
