Funded Engineer Review 2024: Ultimate Guide and Analysis
Last Updated: December 29, 2023
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Funded Engineer is founded by Tristian, who's been day trading for over five years, and Harri, a pro gambler turned entrepreneur, are the brains behind this setup. They created a community of traders, focusing on a supportive vibe with realistic limits and a clever plan for long-term growth. It's like they understand the whole rollercoaster of risk, reward, and the mind games traders play, and they want to help traders hit their career highs.
Funded Engineer stands out in the prop trading scene. They have these challenges where you can get your hands on capital ranging from $10,000 to a whopping $500,000. They're not just another FTMO or My Forex Funds clone. Instead, they're all about trading indices on good ol' MT4 & MT5 platforms, which is great for traders who want to stay away from futures and scale up their trading game without breaking the bank.
Funded Engineer Key Takeaways: Is it for You?
Funded Engineer, a leading trading platform, offers a diverse range of tradable assets, including forex pairs, commodities, and indices, providing traders with ample opportunities for diversification. With carefully calibrated leverage ratios, traders can maximize their strategies while managing risk responsibly. Additionally, the platform's scaling plans and the opportunity to qualify for a monthly salary make it a promising choice for funded traders seeking growth and success.
- Tradable Assets: Includes Forex, commodities like gold and silver, and indices.
- Leverage Options:
- Turbo and Superior challenges ($6K to $300K): Forex at 1:100, Commodities and Indices at 1:20, Crypto at 1:2 leverage.
- Standard challenge: Forex at 1:30, Commodities and Indices at 1:10, Crypto at 1:2 leverage.
- Withdrawal Conditions: Payouts require a profit above starting balance after 14 days, with a $50 minimum threshold.
- Trustpilot Rating: Holds an impressive 4.7-star rating based on 782 reviews.
- Social Media Reach: Actively engages with 18.2K followers on Instagram and 52.6K on Twitter.
- Trading Challenges:
- Turbo Challenge: Funding $6K-$300K, Fee $59-$1,449, Leverage 1:100.
- Standard Challenge: Funding $6K-$300K, Fee $69-$1,600, Leverage 1:30.
- Superior Challenge: Funding $6K-$300K, Fee $59-$1,449, Leverage 1:100.
- Scaling Plans:
- Geared Package: +40% initial balance and increased drawdown limits after 3 months.
- Geared Up Package: +80% balance and salary options after 6 months.
- Geared Elite Package: +120% balance and salary options after 9 months.
- Engineered Package: +160% balance and salary options after 12 months.
- Qualifying for Monthly Salary: Requires a 10% net gain, minimum three withdrawals, and consistent performance. Higher-tier packages offer better salary options.
Funded Engineer Platform: A Comprehensive Overview
Funded Engineer stands out as a prominent figure in proprietary trading firms. It is designed to support traders who show promise and dedication by providing them with the necessary capital to trade in various financial markets.
Program Structure: Funded Engineer offers a structured program that assesses a trader's ability to handle a funded account responsibly and profitably. The program typically involves a challenge or a set of objectives that traders must meet to qualify for funding.
Educational Resources: What sets Funded Engineer apart is its commitment to education. The platform provides a wealth of resources, including webinars, tutorials, and market analysis, all aimed at sharpening the skills of its traders.
Technology and Tools: The platform prides itself on offering state-of-the-art trading tools. Traders have access to sophisticated charting software, real-time data, and a range of indicators crucial for making informed decisions in the market.
Trading Community: Funded Engineer fosters a robust trading community. Through forums and discussion boards, traders can exchange ideas, strategies, and insights, contributing to a collective growth mindset.
Support and Mentorship: The availability of mentorship programs is another highlight. Experienced traders guide newcomers through the intricacies of trading, providing feedback and strategies to help them succeed.
Account Options: Various account options cater to different levels of experience and trading styles. Whether a trader prefers low-risk approaches or high-volume strategies, there's an account type that aligns with their objectives.
Profit Sharing and Growth: Funded Engineer offers an attractive profit-sharing model. Traders keep a significant percentage of the profits they generate, and there are clear pathways to scaling their trading capital based on performance.
Risk Management: The platform doesn't shy away from the importance of risk management. It encourages traders to adopt stringent risk controls, ensuring long-term sustainability and consistency in trading results.
Transparency and Trust: Transparency is at the heart of Funded Engineer's operations. The firm makes its terms clear, with no hidden fees or ambiguous rules. This transparency builds trust and ensures a fair environment for all traders.
As we continue to explore other funded trading platforms, it's apparent that the landscape is diverse, and each platform has unique strengths. Traders are encouraged to perform due diligence and choose a platform that best suits their trading style and career goals.
Pros and Cons
When considering Funded Engineer, it's essential to weigh its Pro's and Con's to access if it aligns with your trading approach and goals.
Pros:
- Diverse Tradable Assets: Diverse assets: 50+ including forex, commodities (gold, silver etc.) and indices. Effective portfolio diversification for traders.
- Leverage Options: Versatile leverage options: For example, leverage ratios in Turbo and Superior challenges, reaching up to 1:100, empower forex traders with greater return potential while managing risk effectively.
- Structured Challenges: Progressive challenges for success: Funded Engineer's Turbo, Standard, Superior, and Superior Lite challenges offer a structured path with clear profit targets and risk limits, guiding traders toward funded account eligibility.
- Positive Social Proof: High Trustpilot Rating: With a strong 4.7-star rating from 782 reviewers, Funded Engineer is well-regarded for its customer satisfaction and reliability.
- Monthly Salary Opportunity: Monthly Salary Incentive: Successful traders on Funded Engineer can earn a monthly salary, adding to the platform's appeal by providing a consistent income source.
Cons:
- Minimum Withdrawal Threshold: Funded Engineer's $50 minimum withdrawal may be a hurdle for traders with smaller account balances.
- Risk of Leverage: High leverage ratios, while offering profit potential, come with the risk of substantial losses. Traders should use them judiciously, especially in volatile markets.
- Duration for Scaling Plans: Some plans like Geared and Geared Up plans require months of profitable trading before gaining access to increased capital and benefits, potentially not suitable for traders seeking rapid growth.
Tradable Assets: What You Need to Know
Funded Engineer offers a diverse portfolio of tradable assets, catering to various trading styles and preferences. Their selection includes major and minor forex pairs, allowing global currency trading. They also provide access to commodities, including precious metals like gold and silver, and energy commodities like oil. Indices offer a gateway to some of the world's major stock markets. This array of assets enables traders to diversify their strategies and take advantage of different market conditions.
Leverage Details
At Funded Engineer, leverage is a crucial aspect of their trading framework, allowing traders to control larger positions with less invested capital. This leverage amplifies both the potential profits and losses, making it a powerful tool in the hands of experienced traders. The specific leverage ratios offered by Funded Engineer are designed to balance opportunity with risk, allowing traders to maximize their strategies while maintaining responsible market exposure. This carefully calibrated leverage can allow traders to execute a range of trading styles, from conservative to aggressive, within the risk parameters set by the firm.
TURBO and SUPERIOR challenges ($6K to $300K):
- Forex: 1:100 leverage
- Commodities: 1:20 leverage
- Indices: 1:20 leverage
- Crypto: 1:2 leverage
STANDARD challenge:
- Forex: 1:30 leverage
- Commodities: 1:10 leverage
- Indices: 1:10 leverage
- Crypto: 1:2 leverage
Withdrawal Options
To qualify for a payout, here's what you need to know:
- Your account should reflect a profit above the starting balance after 14 days.
- Before withdrawing, close all open positions and ensure no orders are pending.
- Withdrawals must meet a minimum threshold of $50.
- Post-withdrawal request, trading activities are paused as your account enters a review phase and is set to read-only.
For withdrawing your earnings, we offer flexible methods, including Deel and cryptocurrency options, facilitating a smooth transaction process.
Reputation and Social Media
Trustpilot boasts a stellar 4.7-star rating for this entity, based on the feedback of 782 reviewers. A remarkable 92% have awarded a full 5 stars, with 3% giving 4 stars. Ratings of 3 and 2 stars are less than 1%, and 1-star ratings constitute 4% of the reviews.
You can keep in the loop with the newest updates and insights from Funded Engineer by following their Instagram. They’ve shared 137 and growing posts and amassed over 18.2K followers, consistently providing content that spans from savvy trading tips and fresh discount coupons to user testimonials and more. Plus, you can always slide into their DMs for direct communication.
Funded Engineer boasts an impressive presence on X (Twitter), with a follower count of 52.6K and a rich content history of 134 posts. Their X feed is a treasure trove of diverse and valuable content, ranging from exclusive discount coupons and exciting job postings to educational podcasts and insights from successful influencers in the trading field.
Challenge Breakdown
Funded Engineer offers four exciting challenges tailored to different skill levels, each with a clear, step-by-step progression path for traders. Whether you're a beginner or an expert, there's a challenge for you:
- Turbo Challenge (1 Step): This fast-track option is perfect for those who are confident in their trading skills and want to demonstrate
their ability quickly.
- Standard Challenge (2 Steps): Ideal for traders who prefer a more traditional approach, this Challenge allows you to showcase your skills over two stages with a balanced blend of profit goals and risk management.
- Superior Challenge (2 Steps): Designed for advanced traders, this Challenge tests your expertise with more stringent profit targets and risk parameters spread over two levels.
- Superior Challenge Lite (2 Steps): A lighter version of the Superior Challenge, offering a slightly more accessible set of criteria while presenting a significant test of your trading abilities.
Each Challenge lays out specific profit targets and risk parameters, providing a clear roadmap to qualify for funded accounts. Let's dive into the details of each of the Challenges.
Turbo Challenge (1 Step)- Packages and Prices and other details
The Turbo Challenges Funded Engineer offers are designed for traders looking to manage a funded account efficiently. These challenges have various account sizes with corresponding one-time fees.
Turbo Challenge has
Phase 1
and a
Funded Trader option.
| Category | Turbo Challenge |
|---|---|
| Funding Amount | $6K to $300K (USD) |
| One-Time Fee (Refundable) | $59.00 to $1,449 (USD) |
| Simulated Phase Target % | 10% for Phase 1, None for Funded Trader |
| Simulated Phase Duration (Time Limit) | None |
| Loss (Max Daily/Overall) | 4% Daily, 6% Overall |
| Minimum Trading Days | 0 |
| Trading Leverage | 1:100 |
| Weekend Holding | Yes |
| Profit Split | From 80/20% to 90/10% |
Standard Challenge (2 Steps) - Packages and Prices and other details
Funded Engineer's Standard 2 step challenge is a comprehensive evaluation designed for traders seeking access to significant capital. It involves two distinct phases, each with specific profit targets and rules. Traders must meet these targets while adhering to the set drawdown limits to successfully pass the challenge and qualify for a funded trading account. This challenge is structured to assess a trader's skill and discipline under realistic market conditions.
This challenge has Phase 1, Phase 2 and Funded Trader options.
| Category | Standard Challenge |
|---|---|
| Funding Amount | $6K to $300K (USD) |
| One-Time Fee (Refundable) | $69 to $1,600 (USD) for Phase 1 and Funded Trader, None for Phase 2 |
| Simulated Phase Target % | 8% Phase 1, 5% Phase 2, None for Funded Trader |
| Simulated Phase Duration (Time Limit) | None |
| Loss (Max Daily/Overall) | 5% Daily, 10% Overall |
| Minimum Trading Days | 0 |
| Trading Leverage | 1:30 |
| Weekend Holding | Yes |
| Profit Split | From 80/20% to 90/10% |
Superior Challenge (2 Steps) - Packages and Prices and other details
The Superior 2 Step challenge by Funded Engineer is designed for skilled traders aiming for higher capital funding. This challenge split into two phases, tests a trader's ability to meet specific profit targets while adhering to strict risk management rules. Completing both phases qualifies traders for a funded account, allowing them to trade with larger capital and showcase their advanced trading strategies.
This challenge has Phase 1, Phase 2 and Funded Trader options.
| Category | Superior Challenge |
|---|---|
| Funding Amount | $6K to $300K (USD) |
| One-Time Fee (Refundable) | $59.00 to $1,449 (USD) for Phase 1 and Funded Trader, None for Phase 2 |
| Simulated Phase Target % | 10% Phase 1, 5% Phase 2, None for Funded Trader |
| Simulated Phase Duration (Time Limit) | None |
| Loss (Max Daily/Overall) | 5% Daily, 10% Overall |
| Minimum Trading Days | 0 |
| Trading Leverage | 1:100 |
| Weekend Holding | Yes |
| Profit Split | From 80/20% to 90/10% |
Superior Challenge Lite (2 Steps)- Packages and Prices and other details
The Superior Lite 2 Step Challenge by Funded Engineer is a streamlined version of their standard challenge, tailored for traders who prefer a more accessible path to funding. It involves two phases, each with its own set of targets and rules but with potentially lower initial capital requirements. This challenge aims to assess traders' skills in a more condensed format, making it suitable for those looking to demonstrate their trading acumen quickly.
This challenge has
Phase 1,
Phase 2 and
Funded Trader options.
| Category | Superior Lite Challenge |
|---|---|
| Funding Amount | $6K to $300K (USD) |
| One-Time Fee (Refundable) | $59 to $1,449 (USD) for Phase 1 and Funded Trader, None for Phase 2 |
| Simulated Phase Target % | 8% Phase 1, 5% Phase 2, None for Funded Trader |
| Simulated Phase Duration (Time Limit) | None |
| Loss (Max Daily/Overall) | 4% Daily, 8% Overall |
| Minimum Trading Days | 0 |
| Trading Leverage | 1:100 |
| Weekend Holding | Yes |
| Profit Split | From 80/20% to 90/10% |
Elevating Your Skills
Funded Engineer's scaling plans are designed to support traders' growth and success. As traders achieve consistent profitability, they have the opportunity to manage larger capital. These scaling plans are structured to incrementally increase the trading capital based on the trader's performance, allowing successful traders to leverage larger positions and earn higher profits. This scaling mechanism is a key feature that aligns with the firm's commitment to nurturing talent and rewarding success.
GEARED PACKAGE - Prices and details
Funded Engineer's "GEARED PACKAGE" offers traders a tailored evaluation experience with specific targets and criteria. This package is designed for traders who seek a streamlined and efficient process to qualify for funded trading. It caters to various trading styles and preferences, ensuring that participants can leverage their skills effectively within the set parameters of the challenge.
| Feature | Details |
|---|---|
| Availability | After 3 months of profitable trading |
| Simulated Split Upgraded | From 80/20 to 90/10 |
| Initial Account Balance | +40% |
| Max Drawdown | Increased by +2% |
| Max Daily Drawdown | Increased by +1% |
| 7 Days Withdrawals | $200 USD monthly salary ($6,000 to $100,000 challenges) and $600 USD monthly salary ($200,000 to $500,000 challenges) |
| Monthly 1 on 1 Coaching Session | With Mindset Psychologist and Free Challenge if account fails (Same value as initial purchase) |
GEARED UP PACKAGE - Prices and details
Tailored for traders looking to enhance their skills and trading capital. It offers a unique set of challenges and benchmarks for skill assessment.
| Feature | Details |
|---|---|
| Availability | After 6 months of profitable trading |
| Simulated Split Upgraded % | 90/10 |
| Initial Account Balance | +80% |
| Max Drawdown | Increased by +4% |
| Max Daily Drawdown | Increased by +2% |
| Same Day Withdrawals | $600 USD monthly salary ($6,000 to $100,000 challenges) and $1,150 USD monthly salary ($200,000 to $500,000 challenges) |
| Monthly 1 on 1 Coaching Session | With Mindset Psychologist and Free Challenge if account fails (Same value as initial purchase) |
GEARED ELITE PACKAGE - Prices and details
Designed for advanced traders, this package provides higher capital opportunities and stringent challenges to match the trader's expertise.
| Feature | Details |
|---|---|
| Availability | After 9 months of profitable trading |
| Simulated Split Upgraded % | 90/10 |
| Initial Account Balance | +120% |
| Max Drawdown | Increased by +6% |
| Max Daily Drawdown | Increased by +3% |
| Same Day Withdrawals | $700 USD monthly salary ($6,000 to $100,000 challenges) and $1,250 USD monthly salary ($200,000 to $500,000 challenges) |
| Monthly 1 on 1 Coaching Session | With Mindset Psychologist and Free Challenge if account fails (Same value as initial purchase) |
| Concierge Service | Up to $2,000 USD |
ENGINEERED PACKAGE - Prices and details
The premium offering targets highly skilled traders with ambitious trading strategies and offers the highest capital and growth potential within Funded Engineer's programs.
| Feature | Details |
|---|---|
| Availability | After 12 months of profitable trading |
| Simulated Split Upgraded % | 90/10 |
| Initial Account Balance | +160% |
| Max Drawdown | Increased by +10% |
| Max Daily Drawdown | Increased by +4% |
| Same Day Withdrawals | $1,000 USD monthly salary ($6,000 to $100,000 challenges) and $1,450 USD monthly salary ($200,000 to $500,000 challenges) |
| Monthly 1 on 1 Coaching Session | With Mindset Psychologist and Free Challenge if account fails (Same value as initial purchase) |
| Concierge Service | Up to $5,000 USD |
How to Qualify for a Monthly Salary
It's simple. Ace the simulated trials, and you'll get to trade in a near-real setting. Keep the profits rolling, and after three months, if you've hit at least a 10% net gain and withdrawn thrice, your capital could bump up by 25%. Remember, your account's got to show more than what you started with.
And for those aiming higher, reach our "Geared package" tier, and there's a monthly salary waiting with your name on it, terms and conditions applied. Just ensure your trading game stays strong and consistent, and by month's end, with at least a 1% payout from your account, that extra cash could be yours.
How to Sign Up
Signing up for a program or service typically involves a few key steps. Here's a detailed guide on how to sign up for any program that is suitable for you.
- Visit the Official Website: Start by navigating to the Funded Engineer official website. This is usually the primary source for accurate information and the sign-up process.
- Find the Challenge for you: Discover your ideal trading challenge by clicking the homepage's "Get Funded Now" button. Choose from options like the Turbo Phase 1, Superior 2 Phase, Standard 2 Phase, and Superior Lite 2 Phase Challenges, and select the one that best fits your trading style after reviewing their details. Let's dive into the details of each of the Challenges.
- Select the Account Size: After picking your Challenge, proceed to select the account size. An interactive table on the page offers detailed information about the Challenge with respect to the available account sizes (ranging from USD 6k to USD 300k). Next, choose your preferred trading platform (MT4 or MT5) and any additional add-ons from the provided list. Please note that Funded Engineer exclusively partners with Purple Trading SC as the trading broker.
- Confirm Payment and Apply: Before finalizing your order, it's important to review it carefully. Check your selections, enter your billing details, and thoroughly read the Terms and Conditions along with the Refund Policy. Take a moment to look over the order summary, and if you have a discount coupon, this is the time to apply it. Once you've verified that all the details are correct, click on "Confirm and Proceed Payment" to complete the process.
Funded Engineer: Summary
I've been exploring Funded Engineer's trading platform, and there are a few standout features worth mentioning:
Firstly, the range of tradable assets is pretty impressive. You've got everything from forex pairs to commodities and stock indices. It's like a trading buffet, offering plenty of options to diversify your portfolio and adapt to different market scenarios.
The leverage options they provide are quite handy. They let you control larger positions with less capital, which feels a bit like trading on steroids. The structured challenges, like Turbo, Standard, Superior, and Superior Lite, lay a clear roadmap for newbies and seasoned traders to get funded accounts.
Their Trustpilot rating is a solid 4.7 stars, which tells me that they're doing quite a few things right in terms of customer satisfaction. Plus, a monthly salary is a nice cherry on top for those looking to make a consistent income from trading.
However, it's not all smooth sailing. A minimum withdrawal threshold of $50 could be a hurdle if starting with a smaller account. Also, while the leverage can be a big advantage, it's like playing with fire – it can amplify gains and losses. And for those looking to scale up quickly, some of Funded Engineer's plans require patience, demanding profitability over several months.
In summary, Funded Engineer offers a well-rounded trading platform with a great mix of assets and structured paths to success. It's important to weigh the risks, especially with leverage, and consider the scaling plan timelines. Overall, it presents a solid opportunity for traders aiming to build a steady income in the trading world.
FAQs
Trading Disclaimer: The information provided is for informational purposes only and is subject to change. We strive to keep it up-to-date and accurate. However, there may be instances where actual data differs from what's published on our website. Daytradinginsights.com operates as an independent platform, which may receive compensation for advertisements, sponsored content, or when you click on links on our site. Please note that the authors and contributors are not licensed financial advisors. Before making any financial decisions, it is recommended that you seek the advice of a professional.
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