In this Funded Trading Plus review, we will discuss the pros and cons of all Funding Trading Plus’s programs, as well as how it compares to other prop firms. Also we have a discount code for our readers that saves you 10%!
Funded trading plus is changing the prop firm space by getting rid of many rules that other prop firms have. Its evaluations have no time limits or minimum trading days and there is no restrictions on news trading. Funded accounts are live accounts, not demo like FTMO and MFF. Profit splits are paid out every 7 days, with a minimum payout of just $50. Initially, these profit splits are 80% and are then increased to 90% once you make 20% profit. You can even trade your Funded Trading Plus with TradingView! (although this currently costs an $80 fee)
Funded Trading Plus Discount Code
Use code TPJ10 for 10% off at Funded Trading Plus.
What Are The 3 Funded Trading Plus Programs?
- Experienced Trader (one-phase evaluation)
- Advanced Trader (two-phase evaluation)
- Master Trader (instant funding)
The experienced evaluation has a 10% profit target, with 6% relative drawdown and 3% daily drawdown. The advanced evaluation has a larger 10% relative drawdown and 5% daily drawdown but has two phases, a profit target of 10% and then 5%.
|Phase 1 Target
|Phase 2 Target
Both experienced and advanced evaluations have the same fee, so the main choice is between a one-step evaluation with less drawdown or a two-step with more drawdown. These fees are priced fairly, a similar cost to My Forex Funds evaluations. The fee is also refunded with the first withdrawal above the profit target.
How does Funded Trading Plus Relative Drawdown Work?
FTP’s ‘relative drawdown’ works differently from other prop firms’ maximum drawdown. As a trader makes profit, this relative drawdown trails up, until it reaches the original account balance and is locked in place. This means if a trader reaches 6% profit once funded with the experienced program then withdraws this profit they will violate the relative drawdown rule and lose the account.
Funded Trading Plus vs Ment Funding
This relative drawdown rule is the same as Ment Funding’s trailing drawdown rule, but differences in the programs mean that Funded Trading Plus is the better option. As I showed in a previous video, trading the Ment Funding evaluation fee can actually give higher returns than getting funded and earning a profit split in some cases. However, this method does not work with FTP, because it has: higher 1:30 leverage, cheaper evaluation fees, larger relative drawdown and refunds the evaluation fee.
Not all of Funded Trading Plus is better than Ment Funding though. FTP’s Relative drawdown rule is present in the evaluation phase while Ment Funding uses a traditional max drawdown rule for the evaluation, and then both use the trailing drawdown on funded accounts. In both cases, this rule isn’t ideal for the trader but it is made to protect the prop firm from losses and allows funded accounts to be real live accounts. Also, the lack of time limits on the evaluations makes getting funded much easier. And if you do fail an evaluation, you can try again for a cheaper reset fee, which costs around 80% of the original evaluation price.
Spreads and Commissions
FTP spreads and commissions are very good. With raw forex markets, spreads go as low as 0 pips, with $3.5 commission per lot. Other markets are standard Eightcap spreads, with a minimum 1 pip spread but 0$ commission per lot. Also, if you do want to trade with TradingView, you will have to pay an $80 fee, and all markets on TradingView are standard eightcap accounts.
How the Funded Trading Plus Scaling Plan Works
FTP’s scaling plan has no time limits. This means you can scale up as soon as you reach the required parameters, or take as long as you want. Scaling is available once you have 10% profit in your account for the Experienced and Master Trader plans, and 20% profit for the Advanced trader program. At this point, your relative drawdown will be fixed at the original account balance. When you scale up, your new account balance will be the scaled-up account size + your profits before the scale-up.
This means that your drawdown will remain the same, before and after scale-up, compared to other prop firms where the drawdown is increased. This means the only advantage of scaling up is for increased buying power, as Funded Trading Plus only offers 1:30 leverage.
Is FTP Instant Funding Worth Using?
The instant funding plans that Funded Trading Plus offers do give more drawdown than the evaluation fee, but probably aren’t worth using. Master Trader accounts have the same relative drawdown rule which means withdrawing all profits violates the account, and only pay a 70% profit split. The higher buying power may be beneficial, but the flexibility of a personal trading account with no rules and the availability of high-leverage brokers means in most cases you might as well just trade a personal account.
Conclusion – Should You Use Funded Trading Plus?
It’s clear Funded Trading Plus is some significant competition in the prop firm space, but is it worth using for you? To answer this question, you need to know the average returns of your trading strategy.
If you can consistently break even or make 6-8% per month, MyForexFunds is probably a better choice. With its evaluation, you will be able to get a free retry on breakeven months, get a 14-day extension to pass in a month make 6% and pass in an 8% month. Then, in phase 2, you only need to make 5% in 60 days.
Then, when you are funded with MyForexFunds, your account has maximum drawdown instead of the trailing relative drawdown that Funded Trading Plus does. This means you can keep making profit and withdrawing it all without losing your account, with the 12% max drawdown giving you a lot more room for losses.
However, if your strategy is more steady but consistent, say 3-5% profit per month, Funded Trading Plus is much better. You won’t have the time pressure that MyForexFunds has, and will still make large profits in the long run, especially with a big account. 4% on a 200k Funded Trading Plus account is a $6,400 profit split.
The key is understanding the returns of your trading strategy, which you can work out by backtesting and recording your data. I recommend using soft4x Forex backtester, or TradingView to backtest. They both cost money but are a good investment and will save you lots more if used properly. Obviously, backtesting results don’t guarantee future returns but can be helpful when deciding what prop firm to use, and for building confidence in your trading strategy.
Thanks for reading this review, feel free to comment what you think about Funded Trading Plus below.
Funded Trading Plus offers a great opportunity for traders who don't want the pressure of time limits when taking prop firm evaluations. Its accounts have excellent trading spreads and fair commissions, that pay out high percentage profit splits. However, FTP is held back by its relative drawdown rule and a scaling plan that doesn't increase drawdown.