FundsCap is a funding-focused proprietary trading firm, offering traders opportunities with diverse account sizes and evaluation processes.
- High Profit-Sharing
- Bi-Weekly Payouts
- No Time Limit
- Regulated Broker
- High Leverage
- 12% Max Loss
- Diverse Range of Tradable Assets
- Relatively New Firm
- Limit Total Accounts to $600,000
In the ever-evolving world of online trading, finding a reliable and empowering proprietary trading firm can be a daunting task. Welcome to this comprehensive FundsCap Review, where we delve into the intricacies of one of the most promising prop trading firms in the industry. Whether you’re a seasoned trader or just starting your journey, this review aims to provide you with an unbiased, expert analysis of FundsCap’s offerings, trading conditions, and unique features.
FundsCap mission and vision are simple: every trader should have equal opportunities to access the capital they need for financial success. FundsCap is dedicated to empowering traders to achieve their financial dreams and aims to be a leading force in proprietary trading, emphasizing innovation and delivering excellent returns for their funded traders.
They offer a wide range of assets across various markets, including Forex, Metals, Commodities, Shares, and Indices. One notable feature of FundsCap is that they don’t impose a time limit on traders during the evaluation process. This means that traders can take as much time as they need to meet the requirements and successfully pass the evaluation account. This flexibility can be a big advantage for traders who prefer to take a more relaxed approach to meet the firm’s criteria.
FundsCap supports popular trading platforms like MetaTrader 4 and 5, provided by OnEquity. It’s worth noting that OnEquity is a regulated broker, operating under the brand name of Meritfox Investments Ltd and authorized by the Seychelles Financial Services Authority (FSA). Ever since the MyForexFunds scandal, it has become crucial to ensure that a proprietary trading firm is working with a regulated broker. This regulatory oversight adds an extra layer of security for traders, giving them peace of mind when trading with FundsCap.
Funding Program Options
FundsCap offers a variety of account sizes to suit different trading styles and risk appetites. The options range from a modest $5,000 account to a more substantial $500,000 account.
The challenge process at FundsCap is a two-step evaluation designed to evaluate a trader’s skills and risk management capabilities. The first stage, the “Challenge”, serves as the initial phase where traders must demonstrate disciplined adherence to trading objectives. Success in this phase allows traders to progress to the “Verification” stage, where they must reach a 5% profit target to qualify for a funded account.
Once you achieve funded trader status, FundsCap offers an attractive profit-sharing scheme. Traders can keep up to 90% of the profits earned through their trading activities.
The firm charges a one-time fee, which is automatically reimbursed through the first Profit Split. Additionally, traders have the option to reset their accounts for lower fees instead of purchasing another challenge. Fees for account resets vary depending on the account size, ranging from $39 for a $5,000 account to $1,789 for a $500,000 account.
When it comes to proprietary trading, understanding the fee structure is important. In this section, we’ll break down the fees associated with FundsCap’s challenge process, including the refundable fee and the reset fee, to give you a clear picture of what to expect.
FundsCap charges a one-time, upfront fee for participating in the challenge. The fee varies depending on the account size you opt for:
- $5,000 account: $49
- $25,000 account: $129
- $50,000 account: $289
- $100,000 account: $489
- $200,000 account: $959
- $500,000 account: $2,389
This fee serves as your entry ticket to the challenge and is non-recurring.
Once you successfully pass the challenge and become a funded trader, the initial fee you paid is automatically reimbursed through the first Profit Split.
If you have a rough start and fail the challenge, FundsCap offers the option to reset your account for a lower fee instead of purchasing another challenge. The reset fees are as follows:
- $5,000 account: $39
- $25,000 account: $99
- $50,000 account: $199
- $100,000 account: $399
- $200,000 account: $699
- $500,000 account: $1,789
FundsCap offers an extensive range of assets across various markets, ensuring that traders have ample opportunities to diversify their portfolios. The primary asset classes include:
- Forex: Trade currency pairs in the largest financial market.
- Metals: Invest in precious metals like gold and silver.
- Commodities: Trade in natural resources such as oil and gas.
- Shares: Buy and sell shares of publicly-traded companies.
- Indices: Invest in stock market indices like the S&P 500.
- Crypto: Trade popular cryptocurrencies like Bitcoin and Ethereum.
While FX, Metals, Commodities, Shares, and Indices are quoted 24/5, Crypto is quoted 24/7. This means you can hold positions over the weekend for cryptocurrencies but not for other asset classes.
FundsCap provides traders with a maximum leverage of 1:100. This high leverage ratio allows traders to maximize their trading capabilities while maintaining a balanced approach to risk management.
When participating in FundsCap’s trading challenges or as a funded trader, it’s crucial to be aware of the specific guidelines and restrictions in place. These rules are designed to maintain a level playing field and ensure responsible trading. Below, we delve into some of these key restrictions.
Overnight and Weekend Trading
FundsCap’s trading assets like FX, Metals, Commodities, Shares, and Indices are quoted 24/5, while Crypto is quoted 24/7. Although you can hold positions over the weekend, it’s important to note that FundsCap offers no pricing from Friday market close until Sunday market open. This means you cannot open, close, or modify any positions during this period.
Expert Advisors (EAs)
While FundsCap does allow the use of Expert Advisors (EAs) and indicators to some extent, they must not violate the Responsible Trading Policy outlined in the terms and conditions. It’s crucial to customize your trading parameters to align with FundsCap’s guidelines.
Maximum Number of Accounts
Each user is limited to a combined starting equity of up to a maximum of $600,000 across all active accounts. This restriction is in place to ensure that traders do not abuse the system by diversifying risks across multiple accounts.
FundsCap recommends trading from a single device with a unique IP address. This is to maintain a secure and consistent trading environment.
For traders seeking to become a part of FundsCap, the firm offers a two-step evaluation process designed to assess both trading skills and risk management capabilities. This section provides a comprehensive overview of these two steps: the initial Challenge and the subsequent Verification.
Step 1: The Challenge
The Challenge serves as the first phase of the evaluation process and comes with specific trading objectives tailored to various account sizes. Here are the key parameters:
- Trading Period: No Limit
- Minimum Trading Days: 3 days
- Maximum Daily Loss: 6%
- Maximum Loss: 12%
- Profit Target: 8%
- Leverage: Up to 1:100
Step 2: Verification
Upon successfully completing the Challenge, traders move on to the Verification stage. Here, the trading objectives are somewhat similar but come with a specific profit target requirement. The key parameters are:
- Trading Period: No Limit
- Minimum Trading Days: 3 days
- Maximum Daily Loss: Same as in the Challenge
- Maximum Loss: Same as in the Challenge
- Profit Target: 5% of the account size
- Profit Split: Once you become a funded trader, you can keep up to 90% of the profits.
Becoming a Funded Trader
After successfully passing both the Challenge and Verification stages, you become a funded trader. At this point, the trading parameters remain largely the same, with one significant difference: there is no profit target. This allows traders greater flexibility to focus on long-term strategies and risk management.
FundsCap’s trading platform is an essential component of their trading environment. The firm utilizes the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, provided by OnEquity, a regulated broker authorized by the Seychelles Financial Services Authority (FSA).
These platforms are known for their established features and user-friendly interfaces, suitable for traders of various experience levels. MT4 and MT5 offer a range of tools for technical analysis, charting, and automated trading.
FundsCap presents a compelling opportunity for traders at various levels of experience to access funding and trade in a professional environment. With its two-step evaluation process, the firm ensures that only skilled and disciplined traders make it to funded status.
The firm offers a wide range of tradable assets, from forex and commodities to shares and cryptocurrencies, providing traders with ample opportunities to diversify their portfolios. Fees are transparent and straightforward, with the initial challenge fee being refundable through the first profit split.
In summary, FundsCap provides traders with a clear and open path to access substantial trading capital, all while emphasizing responsible trading practices. It’s important to mention that FundsCap partners with a regulated broker, OnEquity, which adds credibility and security to the trading experience. It’s a platform that demands skill and discipline but rewards success generously, making it a noteworthy option.
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