FAQ
General Questions
What is a Prop Trading Firm?
A prop trading firm is a company that provides its traders with access to capital. In return, the traders share a percentage of the profits they generate with the company. Access to these corporate demo accounts of up to $2 Million is granted by ProFunded after passing an evaluation, in which the trader must prove consistent profitability.
At ProFunded we take pride in allowing traders from every corner of the world to access capital that would generally be reserved for Ultra High Net Worth individuals and whales.
Why is ProFunded Different?
While other prop firms sell dreams, at ProFunded we offer our traders a clear path towards becoming a funded trader and long term consistent profitability.
Our evaluation process offers the most advantageous trading conditions and payout structures in the market, built from the ground up to create successful traders.
How do I join ProFunded?
To join ProFunded, select the challenge level that suits your experience and pay the associated challenge fee. Once registered, you can start trading according to the challenge rules.
What markets / trading pairs can I trade on ProFunded?
ProFunded allows traders access to all major global markets including Forex, Indices, Crypto and Gold (and other commodities). The specific markets available for trading are listed on our platform and are regularly updated to reflect the latest market trends.
Why should I join ProFunded
We believe that traders deserve the opportunity to practice and refine their skills using demo funded accounts. ProFunded provides an educational and simulated trading experience, allowing traders to develop risk management skills and trading discipline while working towards their financial goals in a virtual trading environment.
Challenge Specific Questions
How do I become a ProFunded Trader?
Profunded offers traders 2-Step, 1-Step and instant funding options, tailored for every king of trader, from beginner to expert :
Stage 1 (Evaluation): is the initial demo phase of the Evaluation Process. To proceed to Stage 2, you must demonstrate both your trading expertise and adherence to our set Trading Objectives.
Stage 2 (Verification): The second and final step towards becoming a ProFunded Trader. This step is very similar to Stage 1 but with a lower requirement for appreciation of the demo capital. The purpose of Stage 2 is to confirm that the results obtained in Stage 1 were not merely coincidental.
ProFunded Trader: If you successfully complete the entire evaluation process, you will become a ProFunded Trader with a ProFunded Simulated Trading Account of up to $500,000, scalable to $2 Million. Trade consistently on our platform and earn rewards based on your simulated trading performance.
What is the difference between 2-Step, 1-Step and Instant Funding Challenges?
Our ProFunded 2-Step challenge is our most popular and widely accessed funding instrument in the market, offering very flexible and attainable objectives and rules.
On the other hand, our 1-Step Challenge skips the Verification Phase entirely, offering our traders funding after a single Evaluation is completed. Even though the rules remain the same as in our 2-Step Challenge, the objectives become more challenging, recommended for more experienced traders
Instant Funding, is a revolutionary funding vehicle for experienced traders, offering instant access to trading capital and tighter rules.
What are the different challenge levels offered by profunded?
ProFunded offers simulated trading challenge levels based on capital allocation, ranging from $5,000 up to $500,000 in simulated balance. All of these challenges are based on the same set of rules, in order to provide the same trading conditions to all our traders.
What are the rules for trading in a Trading Challenge?
To successfully complete each step of our evaluation process, keep the following rules in mind:
- Each challenge level has a set Profit Target. You must achieve the Profit Target with no open positions, in order to clear each objective.
- You can trade for as many days as you need to reach your account’s goal. However, you must actively trade for a minimum number of days (specified in each step). If you reach your Profit Target before this minimum is met, you must continue trading until you have completed the minimum trading period.
- Each challenge level has a Maximum Daily Loss and Maximum Loss. Exceeding any maximum drawdown limit will result in immediate disqualification from the challenge. Traders are encouraged to manage their risks carefully within the simulated environment.
How can I scale my ProFunded account to $2M?
ProFunded’s unique approach to consistent growth is what makes it the most popular prop firm among traders. Through our ScaleUp® program, ProFunded traders have the opportunity to grow their 1-Step or 2-Step funded account by 25% of its initial balance every 3 months, the only requirement for this is having achieved a total net profit of 10% during this 3 month period.
For Instant Funding accounts, ScaleUp® occurs every time the trader reached 10% profits, which doubles the initial account balance up to a maximum of $1.6M
What happens if I exceed the maximum loss limit or the daily loss limit?
Exceeding the maximum loss limit will result in immediate disqualification from the challenge. If you exceed the daily loss limit, all your trades will be automatically closed, and you will be disqualified from the simulated trading challenge. You are welcome to try again by purchasing another trading challenge
What is the settlement time and when does it occur
The settlement time reset refers to the moment when the trading platform transitions from one day to the next. This means that the daily loss limit resets at this time and that trades taken from that moment will count as a new trading day. This occurs at 00:00 UTC.
Can I participate in multiple challenges at the same time?
There is no limitation on the number of challenges users can purchase, whether they are of the same type or different types. However, during the Trader Stage, only one ongoing challenge per level is permitted at a time.
What payment methods are allowed?
You can pay for a Trading Challenge via crypto, credit card, or other regional payment methods depending on where your account has been registered. We start processing your ProFunded Challenge Account as soon as we receive the payment. You will receive your trading challenge notification by email.
I have successfully passed my Evaluation, now what?
On a 2-Step challenge, if you meet all the Profit Target objectives in your Stage 1 (Evaluation), you will no longer need to trade on that account. You will be granted access and credentials to your new Stage 2 (Verification) account automatically. After completing the Verification stage, we will upgrade your account to a ProFunded Account, where the real fun begins.
On a 1-Step challenge, you’ll be automatically upgraded to a ProFunded account immediately after completing the Evaluation Stage, skipping the Verification Stage completely
WIth Instant Funding, you’ll start with an already funded account, meaning no upgrade is necessary.
Profit & Payout Questions
How are payouts calculated?
The default payout ratio for all ProFunded Traders is set to 80:20, with 80% of the rewards based on simulated trading results going to the trader and 20% to ProFunded. However, you may upgrade this to a 95:5 split for a fee during the checkout of your evaluation.
How and when can I withdraw my profits?
Withdrawals of performance-based rewards can be requested every 14 days. Rewards are transferred through digital tokens (USDT), bank transfers or other regional payment methods, subject to ProFunded’s withdrawal terms and conditions and availability.
Can I request payouts during the evaluation phase?
No, payouts can only only be requested from a Funded Account after completing the Evaluation and Verification stages.
How much can I earn on a ProFunded Funded account?
Unlimited. Your earning potential is based on your performance on the funded accounts. The better you perform, the more you can get paid!
The average monthly payout of a ProFunded trader is $2,700, however, this varies depending on factors such as account size and trading activity.
Our biggest single payout record is currently $81,000 on a $750,000 funded account (scaled up from $500k). The sky’s the limit! It all depends on your experience level, risk tolerance, and trading strategy. We do our best to provide you with the tools and resources necessary to enhance your performance.
Support and Additional Information
Where can I find more information about the ProFunded trading challenges?
Detailed information about each challenge, including rules, objectives, and FAQs, is available on the ProFunded platform under the specific challenge section.
How does a ProFunded account work from the technical side?
All trading on ProFunded takes place on our simulated platform. Although all trades are simulated, market data is real and provided by some of our partner exchanges.
In a separate process, ProFunded also trades on real accounts with its own capital, utilizing, among other things, data from simulated trades executed by ProFunded Traders. This execution occurs without any impact on ProFunded Traders and their simulated trading experience.
Who can I contact for support or to resolve a dispute?
For support or to address any concerns, please contact our dedicated support team through the contact form on our website or email us directly at [email protected]