Dive into our in-depth review of FX2 Funding, a prop trading firm that’s reshaping the forex trading landscape with its innovative approach and comprehensive support system.
Dive into our in-depth review of FX2 Funding, a prop trading firm that’s reshaping the forex trading landscape with its innovative approach and comprehensive support system.
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Pros
- 24/7 Customer Support via Multiple Channels.
- Personalized Support for Each Funded Trader.
- Diverse Trading Options: Forex, Indices, Crypto.
- User-Friendly Single-Stage Evaluation Process.
- Rich Educational Resources in FX2 Academy.
Cons
- Limited Licensing and Regulation.
- No Demo Account for Practice Trading.
- Restrictions on High-Frequency Trading Bots.
- Initial Evaluation Fee Required.
- Account Inactivity Limit of 30 Days.
FX2 Funding, originating in the United States, collaborates closely with the Australian-licensed broker, Eightcap. This synergy was established with a pioneering vision to introduce a “value-adding” approach, distinctively beneficial for traders and investors in the forex realm. The distinguishing factor of FX2 Funding lies in its exceptional trading freedom. The company simplifies the registration and evaluation process, removes the constraints of stop-loss rules, and embraces all trading strategies, including weekend positions.
FX2 Funding, aiming to be the most user-friendly prop trading firm, adopts a streamlined funding and evaluation approach. They offer a range of five account types, with live funded capital ranging from $10,000 to $200,000, accompanied by a lucrative profit split of up to 85%. What sets FX2 apart is the absence of a demo account, a deliberate choice to align with their principle of fully supporting their traders with real funds.
FX2 Funding User-Friendly Evaluation Process
The evaluation process at FX2 Funding deviates from conventional multi-step procedures. Instead, they offer a straightforward, single-stage evaluation with a refundable fee starting at $95. The criteria to qualify for funding are clear: achieve a 10% profit without breaching any of the three trading rules. These include avoiding a 6% drawdown on the total account size, preventing a 4% drawdown in a single day, and ensuring the account isn’t inactive for over 30 days.
Flexible Trading and Account Scaling
Traders at FX2 Funding enjoy the liberty to trade at their own pace, free from stringent time constraints or minimum trading day requirements. Upon reaching a 10% gain and becoming an approved live trader, there’s an opportunity to scale up. By withdrawing their share of the profits, traders can see their original account size boosted by 10% by FX2, a process repeatable up to a maximum of $1,000,000.
FX2 Funding offers trading opportunities in Forex, indices, and cryptocurrencies. Leverage options are varied, with 100:1 for Forex, 1:5 for indices, and 1:2 for cryptocurrencies. The platform encourages diverse trading methods, including news event trading, scalping, and the use of scripts, indicators, Expert Advisors (EAs), and copy trading. However, traders must refrain from engaging in latency exploitation, arbitrage pricing, or the use of high-frequency trading bots. All EAs are subject to review prior to account funding.
FX2 Funding facilitates prompt payouts, with the initial payout available 7 days post-funding and subsequent payouts every 14 days. The payouts are processed through Deel.com, necessitating traders to create an account there. Various payout methods are available, including bank transfers, PayPal, Payoneer, Revolut, Wise, and cryptocurrency options like Coinbase and Binance, offering flexibility in receiving funds.
FX2 Funding excels in customer support, offering 24/7 assistance through email, WhatsApp, and phone. Uniquely, each funded trader is assigned a dedicated support provider, ensuring a personalized service with an agent familiar with the trader’s history. The FX2 academy further complements this support, providing an extensive range of educational materials, including white papers, webinars, and more, fostering a rich learning environment.
Despite being a newer entrant in the prop firm sector, FX2 Funding has garnered a positive reception, evident in its 4.2-star rating on TrustPilot from 53 reviews. However, it’s important to note the lack of regulatory licensing, which is a consideration for potential users. The positive customer feedback suggests a level of satisfaction with their services.
In summary, FX2 Funding emerges as a compelling new prop trading platform in 2023, distinguished by its user-friendly approach, superior customer support, and an abundance of educational resources. It stands out as a valuable option for skilled traders seeking funding and support in their trading endeavors.
