Funded Academy Review
2.0

Funded Academy Review

Funded Academy is a team of traders who saw problems preventing traders from getting the best environment they could in the prop firm industry and are aiming to deliver the best for their clients.
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Funded Academy aims to change the online prop funding industry for the better. They hope to make it a more competitive environment, allowing traders to get the best funding.

Pros
  • A real account with real funds
  • Bi-weekly payouts
  • Profit splits of 70% up to 90%
  • Extended account balance up to $1,000,000
  • 1:100 leverage on Standard challenge accounts
  • Bi-weekly payouts on Standard challenge accounts
  • Overnight holding allowed
  • News trading allowed
  • Add-on features for Extended challenge accounts
Cons
  • Lots size limits
  • No free trial
  • 1:10 leverage on Extended challenge accounts
  • Monthly payouts on Extended challenge accounts

Traders at Funded Academy are encouraged to become successful traders. The main priority that they expect from their clients is that they are disciplined individuals who properly manage risk and focus on long-term consistency. They allow them to earn high profits by managing account sizes up to $1,000,000 and taking home profit splits of 70%. They can achieve this by trading forex pairs, metals, indices, and cryptocurrencies.

Who are Funded Academy?

Funded Academy is a proprietary firm incorporated on the 29th of July, 2021. They have offices located in New South Wales, Australia, while offering traders capital up to $1,000,000 in balance with up to 90% profit splits. They are partnered with Eightcap as their broker for their Extended challenge accounts, while for standard challenge accounts, they work with IronFX.

Their headquarters are located at 68 TOROKINA AVENUE St Ives New South Wales 2075 Australia.

You can see Funded Academy’s certificate of registration for their company in the picture below:

Funding program options

Funded Academy offers its traders two different funding programs to choose from:

  • Standard challenge accounts
  • Extended challenge accounts

Standard challenge accounts

Funded Academy standard challenge account aims to attract talented and disciplined traders who are rewarded for their consistency in the two-phase evaluation period. The standard challenge account allows you to trade with 1:100 leverage.

Account sizePrice
$10,000$80
$25,000$165
$50,000$265
$100,000$480

Evaluation phase one requires a trader to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. You are required to hit your profit target in 30 calendar days from the day you place your first position on your evaluation account. In addition, you also have a 4 minimum trading day requirement in order to proceed to phase two.

Evaluation phase two requires a trader to reach a profit target of 4% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. You are required to hit your profit target in 60 calendar days from the day you place your first position on your evaluation account. In addition, you also have a 4 minimum trading day requirement in order to proceed to a funded account.

By completing both evaluation phases, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules. Your first payout is 14 calendar days from the day you place your first position on your funded account. Your first payout consists of 80% of the profit on the funded account, with an additional 20% profit made in phase two evaluation and a 125% refund of your initial paid fee. After successfully receiving your first payout, your payouts become bi-weekly. Your profit split is also increased to 85% after you scale your account for the first time and to 90% after you scale your account for the second time. You should also note that your maximum loss rule increases by +1% with each successful withdrawal that you receive to a maximum of 15%.

Standard challenge account scaling plan

Standard challenge accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable. You will receive an account increase of 25% of the original account balance.

Example:

After 4 months: If you have a $100,000 account, your account balance will increase to $125,000.

After next 4 months: Balance of $125,000 increases to $150,000.

After next 4 months: Balance of $150,000 increases to $175,000.

And so on…

Trading instruments for the standard challenge accounts are forex pairs, metals, indices, and cryptocurrencies.

Standard challenge account rules

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 8%, while phase 2 has a profit target of 4%. Funded accounts have no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 4 minimum trading day requirement.
  • Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
  • Third-party copy trading risk means that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
  • Third-party EA risk means that if you intend to use an EA, you should keep in mind that by using a third-party EA, there might be other traders that are already using it and therefore using exactly the same trading strategy. By using a third-party EA, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.

Extended Challenge accounts

Funded Academy extended challenge account aims to identify serious traders and enable them to earn more profits from their trading activity. They are rewarded for their consistency in the one-phase evaluation period. The extended challenge account allows you to trade with up to 1:10 leverage.

Account sizePrice
$25,000$200
$50,000$400
$100,000$725
$250,000$1,800
$500,000$3,550
$1,000,000$7,100

The evaluation phase requires a trader to reach a profit target of 10% while not surpassing their 4% maximum daily loss or 5% maximum trailing drawdown rules. Your evaluation account has no minimum or maximum trading day requirements. The only requirement to become funded is hitting the profit target.

By completing the evaluation phase, you are awarded a funded account where you have no profit targets. You are only required to respect the 4% maximum daily loss and 5% maximum trailing drawdown rules. You can request your first 70% profit split after 30 calendar days. All of your next payouts are also based on a monthly basis.

Extended challenge account scaling plan

The extended challenge accounts have no scaling plan.

Trading instruments for the extended challenge accounts are forex pairs, metals, indices, stocks, and cryptocurrencies.

Extended challenge account scaling plan

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Evaluation programs have a profit target of 10%. Funded accounts have no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 4%.
  • Maximum trailing drawdown is the maximum drawdown that is equal to the distance between the highest account balance achieved and the maximum drawdown. All account sizes have a maximum trailing drawdown of 5%.
  • Stop-loss required means that traders must set a stop-loss on every position before they can open a trade.
  • Lot size limit requires traders to follow specified lot sizes for specific trading instruments. These are most usually set based on the initial account balance of the prop firm account. The maximum number of open lots across all pairs that a trader can have at any given time is 1 lot per $10,000 capital.
  • No weekend holding means that traders are not allowed to hold open positions during the weekends.
  • Third-party copy trading risk means that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
  • Third-party EA risk means that if you intend to use an EA, you should keep in mind that by using a third-party EA, there might be other traders that are already using it and therefore using exactly the same trading strategy. By using a third-party EA, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.

Add-on options for your extended challenge accounts

  1. Trade over the weekend: 10% price increase when purchasing your evaluation account
  2. Double leverage: 25% price increase when purchasing your evaluation account
  3. No stop-loss required: 10% price increase when purchasing your evaluation account

What makes Funded Academy different from other prop firms?

Funded Academy is different from most industry-leading prop firms due to offering two different funding programs: standard challenge and extended challenge accounts. They also have almost no restrictions on your trading style. You can trade during news, hold trades overnight, and during the weekends (Extended accounts only with an add-on).

Compared to other prop firms, the Funded Academy standard challenge is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 8% in phase one and 4% in phase two, with a 5% maximum daily and 10% maximum loss rules. In addition, you also have a 4 minimum trading day requirement in both phases before becoming funded. Standard challenge accounts also have a scaling plan. Compared to other industry-leading prop firms, they have low profit targets with average drawdown limitations.

Example of comparison between Funded Academy & E8 Funding

Trading objectivesFunded AcademyE8 Funding
Phase 1 profit target8%8%
Phase 2 profit target4%5%
Maximum daily loss5%5%
Maximum loss10%8%
Minimum trading days4 calendar daysNo minimum trading days
Profit split80% up to 90%80%

Example of comparison between Funded Academy & Finotive Funding

Trading objectivesFunded AcademyFinotive Funding
Phase 1 profit target8%7.5%
Phase 2 profit target4%5%
Maximum daily loss5%5%
Maximum loss10%10%
Minimum trading days4 calendar daysNo minimum trading days
Profit split80% up to 90%75% up to 95%

Example of comparison between Funded Academy & FundedNext

Trading objectivesFunded AcademyFundedNext
Phase 1 profit target8%10%
Phase 2 profit target4%5%
Maximum daily loss5%5%
Maximum loss10%10%
Minimum trading days4 calendar days5 calendar days
Profit split80% up to 90%80% up to 90%

Compared to other prop firms, Funded Academy also has an extended challenge, which is a one-phase evaluation program that requires traders to complete and hit a profit target before being eligible for payouts. The profit target for the evaluation program is 10%, with a 4% maximum daily loss, 5% maximum trailing drawdown, required stop-loss, and lot size limit rules. On the other hand, you have no minimum or maximum trading days period.

In conclusion, Funded Academy differs from other industry-leading prop firms by offering two different funding programs. In addition, they also offer traders straightforward trading rules with almost no restrictions. For example, you can trade during news, hold trades overnight, and during the weekends (Extended accounts only with an add-on).

Is getting Funded Academy capital realistic?

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the standard challenge accounts is realistic mostly since they have relatively low profit targets (8% in phase one and 4% in phase two) with average maximum loss rules (5% maximum daily and 10% maximum loss).

Receiving capital from the extended challenge accounts is realistic mostly since they have an average 10% profit target with average maximum loss rules (4% maximum daily loss and 5% maximum trailing drawdown).

After considering all of that, Funded Academy is an excellent choice to get funded since you have two different funding programs you can choose from that have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

Funded Academy was incorporated on the 29th of July, 2021. They offer bi-weekly payouts on their standard challenge accounts and monthly payouts on their extended challenge accounts.

You can mostly find payment proof from Funded Academy on their Discord channel. You can check some of the examples below:

Which broker does Funded Academy use?

Funded Academy uses IronFX as its broker for standard challenge accounts and Eightcap as its broker for extended challenge accounts.

IronFX is an award-winning broker that was founded in 2010. It serves retail and institutional customers from over 180 countries across Europe, Asia, the Middle East, Africa, and Latin America.

Eightcap is an ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a simple, straightforward mission to provide exceptional financial services to its clients.

As for trading platforms, you can choose from the following:

  • MetaTrader 4
  • MetaTrader 5

Trading instruments

Funded Academy allows you to trade forex pairs, metals, indices, and cryptocurrencies on standard challenge accounts. However, on extended challenge accounts, you are also able to trade stocks.

FOREX:EURUSDGBPUSDAUDUSDNZDUSDUSDCAD
USDJPYUSDCHFEURCHFEURGBPEURJPYGBPJPY
GBPCHFCADJPYAUDJPYEURAUDNZDJPYAUDCAD
AUDCHFAUDNZDCADCHFCHFJPYEURNZDGBPCAD
GBPAUDGBPNZDNZDCADNZDCHFGBPSGDAUDSGD
CADSGDCHFSGDEURMXNEURNOKEURPLNEURSEK
EURSGDEURTRYGBPNOKGBPSEKMXNJPYNOKJPY
NOKSEKNZDSGDSEKJPYSGDJPYUSDCNHUSDNOK
USDMXNUSDPLNUSDRUBUSDSEKUSDSGDUSDTRY
USDZARAUDCNHAUDHKDCNHJPYGBPCNHNZDCNH
EURZARGBPZAR
METALS:XAUUSD
INDICES:SPX500US30GER30UK100EUSTX50
ASX200FR40JP225NDX100JAPAN225USDOLLAR
HK50VIXUSDXUS2000
STOCKS:AAPLADBEAMZNASMLAVGO
CMCSACOSTCSCOFBGOOGLINTC
MSFTNFLXNVDAPEPPYPLQCOM
TMUSTSLAABBVABTACNBAC
BRK.ACRMCVXDHRDISHD
JNJJPMKOMAMCDMDT
MRKNKENVSORCLPFEPG
TTMTMOTSMUNHV
VZWMTXOM
CRYPTO:1INCHUSDAAVEUSDADAAUDADACADADAEUR
ADAGBPADAMXNADAUSDALCXUSDALGOUSDALPHAUSD
AMPLUSDARUSDASDUSDATOMUSDAUDIOUSDAVAXUSD
AXSUSDBADGERUSDBALUSDBANDUSDBCHAUDBCHCAD
BCHEURBCHGBPBCHMXNBCHUSDBNBAUDBNBCAD
BNBEURBNBGBPBNBMXNBNBUSDBNTUSDBRZUSD
BSVAUDBSVCADBSVEURBSVGBPBSVMXNBSVUSD
BTCAUDBTCCADBTCEURBTCGBPBTCMXNBTCUSD
C98USDCAKEUSDCELUSDCHRUSDCLVUSDCOMPUSD
CONVUSDCREAMUSDCRVUSDDAWNUSDDMGUSDDODOUSD
DOTAUDDOTCADDOTEURDOTGBPDOTMXNDOTUSD
DSHAUDDSHCADDSHEURDSHGBPDSHMXNDSHUSD
EGLDUSDENJUSDEOSAUDEOSCADEOSEUREOSGBP
EOSMXNEOSUSDETHAUDETHCADETHEURETHGBP
ETHMXNETHUSDFIDAUSDFILUSDFLMUSDFLOWUSD
FTMUSDGRTUSDHBARUSDHNTUSDHOLYUSDHTUSD
ICPUSDICXUSDIOTAUSDKAVAUSDKNCUSDKSMAUD
KSMCADKSMEURKSMGBPKSMMXNKSMUSDLEOUSD
LINKUSDLRCUSDLTCAUDLTCCADLTCEURLTCGBP
LTCMXNLTCUSDLUNAUSDMAPSUSDMEDIAUSDMERUSD
MKRAUDMKRCADMKREURMKRGBPMKRMXNMKRUSD
MTAUSDMTLUSDNEARUSDNEOAUDNEOCADNEOEUR
NEOGBPNEOMXNNEOUSDOKBUSDOMGUSDONTUSD
ORBSUSDOXYUSDPAXGUSDPERPUSDPROMUSDPUNDIXUSD
QTUMUSDRAMPUSDRAYUSDRENUSDROOKUSDRUNEUSD
SANDUSDSECOUSDSKLUSDSNXUSDSOLAUDSOLCAD
SOLEURSOLGBPSOLMXNSOLUSDSRMUSDSRNUSD
STEPUSDSTMXUSDSTORJUSDSTXUSDSUSHIUSDSXPUSD
THETAUSDTOMOUSDTRXAUDTRXCADTRXEURTRXGBP
TRXMXNTRYBUSDUNIAUDUNICADUNIEURUNIGBP
UNIMXNUNIUSDWAVESUSDXEMUSDXLMAUDXLMCAD
XLMEURXLMGBPXLMMXNXMRAUDXMRCADXMREUR
XMRGBPXMRMXNXMRUSDXRPAUDXRPCADXRPEUR
XRPGBPXRPMXNXRPUSDXTZUSDYFIIUSDYFIUSD
ZECUSDZILUSDZRXUSD

Trading fees

Trading commission:

AssetsFee terms
FOREX 7 USD / LOT
COMMODITIES 0 USD / LOT
INDICES 0 USD / LOT
STOCKS 4 USD / LOT (US STOCKS), 0.01% / LOT (UK STOCKS)
CRYPTO 0 USD / LOT

Spread:

In order to check the live spreads login to the trading account below:

PlatformServerLogin numberPasswordDownload platform
MetaTrader 4EightcapLtd-Demo220180408SXhfhCnhClick here

Education & Support for traders

Funded Academy does not provide any educational content on its website.

While Funded Academy doesn’t have their thread on ForexFactory, they have been mentioned numerous times in another thread named ‘’PROP FIRM HUB’’ made by a user named Masterrmind.

To see the mentioned thread click here.

Traders’ comments about Funded Academy

Funded Academy has excellent feedback from its reviews.

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with a great score of 4.3/4 out of 26 reviews.

A vast majority of their community gives positive feedback when mentioning their support team and their prompt and helpful responses.

Another comment stated that even though Funded Academy is still a relatively new prop firm, they show signs of promise to establish themselves as one of the best in the prop industry business.

Social media statistics

Funded Academy can also be found on social media, but they have a limited number of platforms. 

They only have a Telegram account with 121 members and a Discord channel with 987 members.

Support

Funded Academy has a FAQ page where you might find the information that you are missing.

The support team is available on their social media, or you can directly contact them on their email Hello@funded.academy.

You can also contact them with your message on their website by clicking here.

Conclusion

In conclusion, Funded Academy is a legitimate proprietary firm that offers traders a chance to choose between two different funding programs: standard challenge and extended challenge accounts.

Standard challenge accounts are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. Funded Academy requires traders to reach profit targets of 8% in phase one and 4% in phase two before becoming funded which are realistic trading objectives considering you have a 5% maximum daily and 10% maximum loss rules to follow. With standard challenge accounts, you can earn 80% up to 90% profit splits while also being able to scale your accounts.

Extended challenge accounts, on the other hand, are a one-phase evaluation challenge that requires the completion of one phase before becoming funded and being eligible to earn profit splits. Funded Academy requires traders to reach a profit target of 10% before becoming funded, which are realistic trading objectives considering you have a 4% maximum daily loss and 5% maximum trailing drawdown rules to follow. With evaluation programs, you can earn 70% profit splits. However, note that extended challenge accounts don’t have a scaling plan.

I would recommend Funded Academy to anyone looking for a prop firm with straightforward trading rules and account sizes of up to $1,000,000. While they are not the most attractive and known proprietary trading firm in the industry, they offer excellent conditions for a big pool of individuals. After considering everything Funded Academy has to offer, they can be considered an excellent choice for any forex trader looking to work with account sizes of up to $1,000,000.

This review about Funded Academy was lastly updated on 20.01.2023 at 09:44 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does Funded Academy have the instruments that you want to trade?

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Funded Academy Review Details

Trading platform
Deposit Methods
Withdrawal Methods
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Leverage
Maximum capital allocation
Account size up to:
$1,000,000
Funded Academy Account
*Choose your account type and start trading
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Fees
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Customer Support
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