How FundYourFX Changes the Prop Trading Industry.
One of the key advantages of prop trading over other kinds of trading is the higher profit potential. Prop trading firms are willing to invest in anyone who can show that they understand how to make money in the market. This post will discuss FundYourFX, a younger yet well-respected prop firm that is revolutionizing the prop trading industry through its no challenge, instant funding, million-dollar scaling, and flexible trading rules. These are revolutionary as we see more and more prop firms following this. Let’s first discuss FundYourFX.
What is FundYourFX?
FundYourFX is a well-known prop firm with excellent ratings on Trustpilot, TrustIndex, and Google Reviews. They are a newer firm based in London that was created in 2021. Their office is 128 City Rd, London, EC1V 2NX, United Kingdom. FundYourFX uses EightCap as its trading platform. EightCap is a broker that has won awards and has some of the best spreads on the market. You don’t have to worry about getting scammed because they are not a scam. A quick Google search will lead you to their positive reviews.
Their key aim is for their traders to be disciplined individuals who efficiently manage risk and seek long-term consistency. To be successful as a prop trader, all you need is a winning trading strategy, a strong understanding of your psychology and emotions, and risk management abilities.
Why Choose FundYourFX?
Doing challenges or demo accounts will not help you be a better trader. The most significant distinction between demo and live accounts is the psychological difference. As with a demo account, you don’t experience the emotional strain or danger you would with an actual account. So even if you pass the challenge, you might not pass the live account trading. Some big prop firms even still have you use demo accounts after you have been accepted as a trader and passed their challenge.
Thanks to FundYourFX, there are many new prop trading firms using the no-challenge model and instant funding. This is good for traders because you don’t have to waste time doing challenges. Time spent doing challenges is time lost when you could have been making a profit.
Newer firms are also following the flexible trading rules like in FundYourFX. Trading news, holding trades overnight, trades on weekends, and being able to use EAs. Many of the older prop firms don’t allow you to do most of these. Too many restrictions are not good for a trader as well.
FundYourFX was also one of the early prop firms that offered million-dollar funding with flexible trading rules. If you compare older established prop firms like FTMO, FundYourFX is easily a better value. First of all, FundYourFX uses a live account, while FTMO uses demo accounts. You are still on the demo account even if you get the funding. Then you have to go through their difficult FTMO challenge before getting funded. Most traders fail and would waste their challenge fee.
In Summary
There is no doubt that many more prop firms will emerge with better trading conditions. One of the reasons that many traders continue to apply to prop firms using outdated models with challenges and demo accounts is that many prop firms have been operating for a long time and rely on their “brand.” However, as more prop firms emerge, it becomes easier for traders to obtain funding. Once these new prop firms make a name for themselves, traders will depart from the older firms that rely on challenge fees and demo accounts.
Prop firms are becoming more popular, and the sector is becoming more competitive as new prop firms emerge. With regulators cracking down on “retail traders,” prop firms may be the best place to trade. With that said, FundYourFX is one of the best value, if not the best, prop firms to trade with.
The steps are a lot simpler. Just apply to be a funded trader, and they will call you for an interview. You could be trading with a live account within 24 hours. They are offering you the potential to earn 5 figure income, and you are only risking £197 for the one-time fee. And not to mention that you can actually get that fee refunded. You just need to hit 10% profit 3 times. So on your 3rd profit share, you will get back that £197. That is an outstanding deal.
