Is FundsForTraders.com Legit or a Scam Broker?

While FundsForTraders is a new company, there is no evidence to suggest that they are a scam at this time. However, there are a few reasons to be cautious:

• New company: This platform is a new company, and there is not a lot of information about them available online. This makes it difficult to assess their track record and reputation.
• High profit targets: The profit targets offered by this broker are very high, which could be unrealistic for some traders.
• Lack of regulation: There is no information available on the website about whether or not this company is regulated. This is a concern, as regulation helps to protect traders from fraud.

It is important to do your own research before investing with any prop firm, including FundsForTraders. You should consider factors such as the company’s reputation, the fees involved, and the risks associated with trading.

What is FundsForTraders.com?

FundsForTraders is a new prop firm based in the Netherlands that offers funded forex trading accounts to traders. The firm was founded by Joran Van Lakwijk and Joek Broos.

FundsForTraders Details

Deposits and Withdrawals

There is no information available on the FundsForTraders website about the minimum deposit required to open an account. However, the cost of the challenges ranges from $5 to $1482, depending on the account size.

The website also states that traders can request a payout 30 days after their first placed trade. All following payouts are done bi-weekly. There is no information on the website about any fees associated with withdrawals.

Account Types

FundsForTraders offers three different challenge types:

• 1-Step Challenge: This challenge has a profit target of 10% and a maximum drawdown of 6%. The cost of the challenge ranges from $5 to $778, depending on the account size.
• 2-Step Challenge: This challenge has a two-step profit target. The first step has a profit target of 8% and a maximum drawdown of 10%. The second step has a profit target of 5% and a maximum drawdown of 5%. The cost of the challenge ranges from $11 to $949, depending on the account size.
• 3-Step Challenge: This challenge has a three-step profit target. The first step has a profit target of 8% and a maximum drawdown of 10%. The second and third steps each have a profit target of 5% and a maximum drawdown of 5%. The cost of the challenge ranges from $20 to $1482, depending on the account size.
  

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Red Flags and Warning Signs

There are a few red flags to consider with FundsForTraders:

• New company: FundsForTraders is a new company, and there is not a lot of information about them available online. This makes it difficult to assess their track record and reputation.
• High profit targets: The profit targets offered by this broker are very high, which could be unrealistic for some traders.
• Lack of regulation: There is no information available on the website about whether or not this broker is regulated. This is a concern, as regulation helps to protect traders from fraud.
• Hidden fees: There is no information on the website about any fees associated with withdrawals.

Customer Complaints and Negative Reviews Online

While there are not many reviews of FundsForTraders available online at this time, some users have mentioned that customer support is not very responsive.