AquaFunded is a proprietary trading firm registered as Aqua Funded FZCO in Dubai Silicon Oasis, with a second entity — AquaFunded LTD — incorporated in Saint Lucia (company number 2004-00597). The firm launched in December 2023. CEO Jason Blax is publicly named and has a LinkedIn profile. The firm reports over 240,000 registered traders as of mid-2026 and claims more than $7 million in total payouts to date.

The product lineup covers three challenge paths (1-step, 2-step, 3-step) and an instant funding account called Aqua Trader. Traders can also access a crypto-specific arm at crypto.aquafunded.com and a futures product at aquafutures.io. This review covers the standard forex product only.

AquaFunded has built a strong support reputation. Named agents — Marina, SeaBlade, Ryan, and others — appear repeatedly in positive reviews for fast response times. The firm also runs a regular free trading competition and an active Discord community, which gives it a community feel that many newer prop firms lack.

The firm does not publicly name its liquidity provider on the current website. This is worth noting for traders who want full execution transparency, though it is not uncommon among prop firms at this stage of growth.

AquaFunded offers four challenge types for the forex product: 1-Step, 2-Step, 3-Step, and Instant Funding (Aqua Trader). Each has sub-tiers (Standard, PRO, Elite) that affect pricing and drawdown rules. Account sizes range from $2,500 to $400,000.

1-Step Challenge

Pass a single phase with a 9% profit target. Daily loss limit is 3% and max drawdown is 6% of starting balance. Leverage is 1:100 for forex during evaluation. Minimum of 3 profitable trading days required (each day must close at least 0.5% above the prior day’s balance). No time limit to complete.

2-Step Challenge

Phase 1 requires an 8% profit target. Phase 2 requires 5%. Daily loss limit is 5% and maximum drawdown is 8%. Leverage is 1:100 during evaluation. Bi-weekly payouts begin 14 days after the first trade on the funded account. No time limit.

3-Step Challenge

Phase 1 target is 6%, Phase 2 is 6%, and Phase 3 is not publicly displayed in a fixed number on the rules page — check aquafunded.com for the current 3-step terms before purchasing. No minimum profitable days required for the 3-step model.

Instant Funding (Aqua Trader)

Skip the challenge entirely. No profit target. The Aqua Trader account does not have a daily loss limit at the standard tier but carries a fixed dollar maximum loss (e.g. $3,000 on a $100K account at one sub-tier). Leverage drops to 1:50 for forex on instant and funded accounts. Payout is on demand. 100% profit split from day one.

The maximum drawdown at AquaFunded is a static drawdown, not a trailing drawdown. It is fixed at 8% of the initial account balance for the 2-step model. If you start with $100,000, your account equity cannot fall below $92,000 at any time — including open floating losses. This does not move as your balance grows, which is more favorable than a trailing drawdown structure.

The daily loss limit resets at 00:00 UTC. The limit is calculated from whichever is higher — your account balance or equity at the reset point — and you cannot lose more than 4% (2-step model) of that figure within the new trading day. This is an EOD balance drawdown calculation, not a real-time equity peak calculation.

What Is Allowed

What Is Not Allowed

Tick scalping, high-frequency trading, latency arbitrage, reverse arbitrage, and hedge arbitrage are prohibited. Copy trading from other traders’ accounts — as opposed to your own — is banned. Platform abuse (using bad ticks, delayed data feeds, or server errors to gain an edge) is a grounds for account termination. Cross-account hedging across multiple user profiles is prohibited.

Inactivity Rule

You must place at least one trade within any 30-day window from the date of your first trade. Accounts with no trades for 30 consecutive days are marked inactive and result in a breach.

AquaFunded supports four trading platforms: cTrader, MetaTrader 5, TradeLocker, and Match Trader. Four-platform breadth is unusual for a firm under three years old and gives traders a real choice based on their existing setup. cTrader and MT5 are the most widely used. TradeLocker and Match Trader are also available for US-based traders.

Spreads are floating and change based on market conditions and liquidity. AquaFunded provides a live spread account you can log into on MT5 or TradeLocker to check current spreads before buying. Swap fees apply to overnight positions and are visible directly in the trading platform.

Tradable instruments include forex pairs, indices, commodities, and crypto. Stocks and options are not available on the standard forex product. The AquaFunded crypto arm operates separately at crypto.aquafunded.com.

AquaFunded has not publicly named its liquidity provider or broker. Based on older FundedTrading articles, the firm previously worked with Purple Trading Seychelles and FinesseFX, but the current live site does not confirm these relationships. Traders who care about execution transparency should factor this in.

The base profit split is 90% across all challenge models. A 100% profit split is available as a paid add-on at checkout. Instant Funding (Aqua Trader) accounts come with 100% split as standard.

Payouts on challenge-based funded accounts begin no earlier than 14 calendar days after your first trade, then run bi-weekly from there. On-demand payouts are available as a paid add-on. The firm processes payouts within 1 to 2 business days and offers a $1,000 compensation if that window is exceeded — a payout guarantee that few firms at this price point match.

Payout methods include Rise wallet, crypto, and bank wire. Verify the current options at aquafunded.com before purchasing, as these can change. Credit card and debit card options are available for purchases.

Challenge fees are 100% refundable after you reach your first profit split on the funded account. No fee refund is issued before that point.

One Thing to Know About Payouts

AquaFunded enforces an account integrity policy that includes checking for device sharing across multiple accounts. Traders on shared networks or commercial VPS services have occasionally had payouts flagged under this rule. The firm’s position is that all rules are published and enforcement is based on verified data. If you trade from a commercial VPS or a shared household network, it is worth contacting support before your first payout to confirm your setup is clear.

AquaFunded runs two parallel systems: a performance-based scaling plan and a loyalty tier program called Aqua Elite.

Aqua Scaling Plan

Generate 12% profit within any 3-month period on a funded account and AquaFunded increases your account size by 25% of your original starting balance. On a $100,000 funded account, that is a $25,000 increase to $125,000. This repeats each 3-month cycle, with a stated maximum of $4,000,000 in total capital allocation.

Aqua Elite Tiers

Aqua Elite is a career-tier program that stacks on top of the scaling plan. It has three levels — Bronze, Silver, and Gold — each requiring a track record of funded account payouts and a minimum withdrawal amount. The firm does not let you buy into these tiers. You qualify through performance.

No other prop firm in this price range offers a monthly salary component. The Gold tier salary and Dubai in-person experience are genuinely differentiated benefits, assuming you can qualify. The barrier is high — 9 months clean, 9 payouts, $75K withdrawn, zero violations.

The best AquaFunded coupon code right now is FUNDEDTRADING. It applies at checkout on any challenge or instant funding account and defaults to the highest available discount — no need to hunt for a better code elsewhere.

AquaFunded also runs time-limited event codes — WORLDCUP is currently live with 40% off plus BOGO and a 150% fee refund after your first payout. If you’re buying soon, check the FundedTrading discount page for the latest codes. FUNDEDTRADING is your year-round baseline and defaults to the best available rate for FundedTrading readers.

Yes. AquaFunded is a real company with registered legal entities in Dubai and Saint Lucia, a publicly named CEO, and over 2,265 documented payout transactions on record per TheTrustedProp’s backend data as of May 2026. The firm has been operating since December 2023 and continues to grow — over 240,000 traders registered, $7 million in total payouts claimed, and an expanding product suite including futures and crypto arms.

The PropFirmMatch community score sits at 4.3 from 248 verified trader reviews. Positive feedback consistently highlights fast support response times, a clean dashboard, clear rules, and smooth onboarding. Many traders report receiving payouts without issues.

Like most prop firms, AquaFunded has negative reviews too — mainly from traders whose payouts were denied under the account integrity policy. These are worth being aware of. The firm’s position is that its rules are published and applied consistently. Reading the full rules page before purchasing, and confirming your trading setup with support if you use a VPS or shared network, covers the main risk area.

Traders who go in with a clear understanding of the drawdown rules, the news trading profit cap, and the device-sharing policy report positive experiences and repeat payouts. AquaFunded is a legitimate firm with real funding, real payouts, and a product that competes on features with more established names.

Here is how AquaFunded stacks up against comparable prop firms on the core numbers as of July 2026.

AquaFunded leads on profit split — 100% is available where FTMO and FundedNext cap at 90%. The four-platform stack is broader than most firms at this price point. The 8% static max drawdown is tighter than the 10% at FTMO and FundedNext, so traders with larger intraday swings should size positions accordingly. AquaFunded’s instant funding option is a genuine differentiator for traders who want capital access without an evaluation phase.

See our best prop firms ranking for a full comparison across 40+ firms.