My Forex Funds recently overtook FTMO as the most popular prop firm and paid out more than $17 million last month.
But traders have 2 main complaints about My Forex Funds. First, their short time limits make passing challenges more difficult. Second, they calculate daily drawdown using both equity and balance, so traders can fail even when in profit. Bespoke Funding Program aims to fix these complaints by offering no time limit evaluations, with the option of balance-based daily drawdown with (one) of its programs.
Their focus is on providing the best experience for traders, which is shown by their auto-close feature. This closes all trades when the challenge profit target is reached. This means you don’t need to worry about not passing just because you didn’t close your last trade in time.
Bespoke Funding Discount Code
If you do choose to use Bespoke Funding Program, make sure to use the discount code TPJ for 10% off!
Bespoke Funding also frequently runs other discount promotions, with higher percentages off and other added benefits. If you want to find the latest discount codes for Bespoke Funding and other prop firms, join the official Prop Journalist Discord Server. Prop firm discounts are found in the limited time discount time codes channel, and you can be notified whenever a new code is posted by reacting to the message in the welcome channel.
I’d always recommend checking the discord server before making a purchase from any prop firm, because 90% of the time you can save money with a discount code found in the server!
Bespoke Funding Challenges
Bespoke Funding offers 3 different challenges:
- 2-step Classic Chalenge
- 2-step Traders Choice (Rapid Challenge)
- 1 Step Challenge
In this Bespoke Funding Program review I’ll explain the pros and cons of each Bespoke Funding challenge, so you can decide if it’s the right prop firm for you.
The main difference between the 2 and one-step challenges other than the number of phases is the way their maximum drawdown limits are calculated. With the 2-step challenge, static maximum drawdown is used, which doesn’t move. However the 1-step challenge uses trailing relative drawdown, which trails up as new balance highs are made until it reaches the original account balance and is locked in place.
2-step Bespoke Funding Challenges
If you choose a 2-step challenge, the Classic Challenge and Standard Challenge have some significant differences that suit different trading styles.
2-step Trader’s Choice Challenge
The Trader’s Choice, also known as the rapid challenge, has an 8% profit target in phase 1 and then a 5% profit target in phase 2. There are no time limits in both phases. These accounts have 8% maximum drawdown and 5% daily balance based daily drawdown.
Trader’s Choice accounts have 1:100 leverage and can hold trades over the weekend. They are available in account sizes from $10k to $400k and are well priced, made cheaper using the discount code TPJ for 10% off.
2-step Classic Challenge
The 2-step classic challenge offers the same profit targets and 5% balance based daily drawdown, but with higher 10% maximum drawdown. This comes with a slightly higher price, but it’s easy to argue that it’s worth it.
The higher maximum drawdown the drawdown to profit target ratios in both phases are lower, meaning the challenge is easier to pass. Also, the higher maximum drawdown means you have 25% more true backing on the funded account.
2-step Challenge Payouts
Both 2-step challenges pay out an 80% profit split from the funded account, which can be withdrawn after 30 days, after which payouts are every 14 days.
Bespoke 1-step Challenge
If you want a shorter evaluation the bespoke 1-step challenge has only 1 phase with a profit target of 10%, with no time limit. 1-step challenge accounts are available from $50k to $500k.
It has 4% balance based daily drawdown, but its 5% maximum is trailing. This trails 5% behind new balance highs then locks in place at the original account balance. This makes passing the challenge harder and means that withdrawing all your profits from the funded account after making 5% or more blows the account.
Also, the 1-step challenge also only has 1:10 leverage and a 75% profit split, so it isn’t very competitive compared to other prop firms. You must place a stop loss for every trade on the 1-step challenge. However, you can pay an extra 10% if you don’t want this rule on your account. You also can’t hold trades over the weekend with the 1-step challenge but you can also pay another 10% fee to avoid this rule.
Bespoke 1-step Challenge alternative
If you don’t mind about news trading, the TFT Knight’s challenge is a better alternative to the bespoke 1 step challenge. This is because it has a higher 6% relative drawdown and is cheaper using the discount code CEASER. However, news trading isn’t allowed on the funded account.
Bespoke Funding Rules
Bespoke funding has a maximum lot size limit for all challenge and funded accounts. This limit is 3 lots for every $10k of account size. You must place a trade every 30 days to avoid breaching your account for inactivity, so make sure to keep this in mind if you have a break from trading.
News trading is allowed on all Bespoke Funding accounts.
If you make profit on the funded account then fail you are still eligible for your payout unlike some firms which don’t allow this. You can scale up your funded account with Bespoke every 4 months if you receive a payout of 8% or more within a 4 month period and at least 3 of those 4 months were profitable. If you meet these parameters your account will be increased by 40% of the original account size.
Bespoke has very good trading conditions, with low spreads and only $4 commission per lot with its broker EightCap. It has a good reputation with a 4.8 star rating on Trust Pilot.
Bespoke Funding Competitors & Conclusion
If you want to start small and don’t mind about daily drawdown, My Funded Fx $5k are cheaper than bespoke, and can be made cheaper using the discount code TPJ for 5% off.
Thanks for reading this review. What do you think about bespoke funding? If you enjoyed make sure to subscribe to my YouTube and check out my other content!