The funded trader vs. OFP funding
The Funded Trader program is a low-cost substitute for conventional two-step evaluation programs. It provides highly lenient trading parameters, fantastic payouts, and a great deal of trading flexibility. TFT comprehends three types of accounts:
- One step knight challenge
Phase 1 of the evaluation procedure is known as the Royal Challenge. Traders must maintain the 5% daily drawdown and 10% overall drawdown constraints while aiming for an 8% profit. On this challenge, traders may employ EAs and Trade Copiers. They will receive the phase 2 account within 24 hours and be able to continue the process of getting funded once they have satisfactorily completed all of the trading objectives and demonstrated their abilities.
Phase 2 of the Royal Challenge is the validation phase, when traders will once more demonstrate their abilities. They have to avoid hitting the same drawdown parameters while achieving 5% profit target. To qualify for up to a 90% profit split and biweekly rewards, traders must continue to show a professional degree of consistency and risk management. On this financed account, there are no lot size constraints, and they are free to trade news without any limitations.
The funded trader program benefits
Ofp is a completely different prop firm offering different trading products, instant accounts are made purposefully for trader sto avoid ending in the feedback loop from hell of traders who try to pass a challenge but fail, for those who can consistently pass assessments, TFT has many benefits for them:
- one of the most well-liked prop firms.A lot of positive reviews on trustpilot.
- Some of the best deals for a $50K account is a one-time $315 cost that is fully returned if traders pass the tests.
- Good payout percentage (80%–90%),scaling opportunities (up to $1.5 million), and profit targets (10% for the first stage, 5% for the second) despite the low pricing.
- Rapid account with no minimum trading day.
- Standard account with only 5 minimum trading days
- 35 maximum days to pass stage 1 of the challenge
- 60 maximum days to pass stage 2 of the challenge
- Not only forex but many financial instruments such as criptos and indexes.
- In terms of leverage, The Funded Trader stands out as well. When trading forex, if a trader selects a Rapid account, the account leverage is a huge 100:1.
Which is better: The funded trader program or OFP funding?
It is difficult to compare “ofp funding” and “the funded trader.” These two prop companies provide radically different products to the markets. OFP model is a choice that traders who want to take charge of their funds and start trading on their own terms are finding to be more and more appealing. By giving traders the necessary funds to begin trading right away, this approach offers traders a simple, clear, and quick way to get started with trading.
Contrarily, The funded trader model frequently demands that traders go through a tough screening procedure and present their knowledge and trading abilities before being given access to a trading account. Particularly for individuals who are just starting out and may not have much expertise or knowledge in the sector, this can be a time-consuming and difficult process.