FX2 Funding Review 2024 – Are They Legit?

Hi, welcome to my FX2 Funding review.

Today, I’ll go over their fees, challenges, funding programs, reviews and more to help you determine if they are worth your moeny or not.

With so many prop firms available in the market, it can seem rather daunting to choose one. That’s why I have prepared the following review. Let’s get started.

FX2 Funding Pros and Cons

Pros

• Up to 85% profit sharing
• Scaling can boost account balance by 20% or more
• Account scaling up to $1,000,000
• No time limit; trade at the trader’s pace
• single-step evaluation
• The maximum account size is $200,000

Cons

• Reduced live account capital withdrawals are discouraged
• While scaling, withdrawals are prohibited
• The sixty-day account lockout is longer
• Policy on refunds isn’t guaranteed 

What is FX2 Funding?

The prop trading firm FX2 Funding was founded in January 2023. It’s one of the newest and most creative businesses out there at the moment. The startup wants to give forex traders and investors a simple, flexible funding trading option. Long-term effects are better when users have more freedom.

FX2 Funding, a US-based company, manages its servers in collaboration with Eightcap, an Australian broker with registration. Since its founding, FX2 Funding has dedicated itself to providing traders in the foreign exchange market with a special and worthwhile service.

In my multiple years of trading experience, I have noticed that setting oneself apart from the competition is vital for any forex firm. In this case, FX2 Funding’s commitment is giving customers the best possible flexibility in their trading operations. The company has eliminated stop-loss restrictions, accelerated the registration and review procedures, and adopted a policy that allows all trading strategies including weekend holdings. 

FX2 Funding Funding Programs and Challenges: Rules and Requirements 

While checking their funding programs I noticed, FX2 Funding has lowered the amount of trading regulations that need to be adhered to. These guidelines are as follows: 

1. Maximum Drawdown Rule: Traders must ensure that draws take up no more than 5% of the total amount in their account. In the event of such a drawdown, the account will be closed until a 5% return is made. The moment the required return is attained, the account will resume trading.

2. Daily Drawdown Rule: To comply with the daily drawdown rule, traders cannot lose more than 4% of their equity in a single trading day. Trade management and monitoring are critical to prevent such significant losses in a single day.

3. The “Inactivity Rule” stipulates that to be qualified for an account, trader accounts must be open and engaged in trading. A probability of account closure exists if inactivity persists for more than thirty days. To meet profit criteria, dealers are expected to trade for a minimum of ten days.

FX2 Funding does not impose a deadline on the completion of trades. However, traders must adhere to specific trading restrictions to trade in the live-funded account provided by FX2 Funding.

See which forex-funded accounts are the finest of the year. 

What are Forex Prop Challenges?

Prop firms, or proprietary trading enterprises, use forex prop challenges as a kind of evaluation process to identify great traders and give them the chance to trade with the firm’s capital. These challenges, which consist of a set of trading guidelines and goals to follow over a predetermined amount of time, are meant to evaluate a trader’s ability to make money while appropriately managing risk.

Typically, a forex prop challenge consists of two main phases:

1. The challenge phase: In this first stage, traders are given a demo account with a fixed balance and challenged to meet a profit target within a predetermined period, usually a month or two, while abiding by other trading guidelines and maximum drawdown constraints. This stage assesses the trader’s ability to make money within predetermined risk parameters.

2. The Verification Phase: After completing the challenge phase and adhering to the rules, traders move on to the verification phase. This phase is comparable to the challenge phase, although it usually lasts longer and could have slightly different profit goals or standards. Verifying the trader’s reliability and experience over an extended period is the aim of this step.

Upon fulfilling both phases, traders are frequently granted access to a funded account. This suggests that a portion of the prop business’s funds are allocated for the trader to manage. The trader and the prop firm split the earnings from trading this cash by a prearranged split.

Each prop business has a different cost associated with forex prop issues. This fee ensures that traders are committed to the offer and pay for the evaluation process.

The specific requirements, objectives, and format of prop challenges may vary greatly throughout companies. Traders should meet the following standard requirements:

Profit targets: A set percentage of the account balance that traders have to reach in advance.

Drawdown limits: The most daily and cumulative percentage loss that can be incurred from the account’s peak amount.

Minimum trading days: The total amount of days that must be traded actively during the challenge.

Trade style limitations: Certain corporations may impose restrictions on trading tactics, such as prohibiting overnight positions or high-frequency scalping.

In my opinion, forex prop challenges, excluding the initial challenge charge, give traders access to substantial trading capital without risking their money. Participants must carefully consider the conditions of these challenges, though, as the strict standards set by the prop firms are meant to assess traders’ trading skills, risk tolerance, and discipline. 

FX2 Funding Broker: Do They Use a Reliable Platform? 

FX2 Funding offers a simple and reliable way to evaluate traders from various backgrounds. They can choose between the advanced MT5 and the user-friendly MT4 trading platforms to make trades as quickly as possible. The dashboard’s easy-to-use interface and clear style make evaluation simple.

To be eligible for a live account, traders must demonstrate their trading prowess. They will also receive professional support as needed. The company provides excellent teaching resources and best practices for risk management through its blogs. To start the account setting procedure, just choose “Get funded” or “Funding Programs” from the “How Funding Works” dropdown option.

I chose the challenge account size that most closely matched my level of experience, filled in the necessary information, and paid the relevant fees in three simple steps. Once I completed the process, I obtained access credentials for the MetaTrader platform of my choice (MT4 or MT5).

I traded quickly using any strategy I liked, whether it was using an EA, copy trading, or news trading. FX2 Funding’s user-centric approach ensured usability and accessibility, catering to my requirements as an intermediate and undercapitalized trader seeking significant capital. Benzinga strongly supports FX2 Funding.

FX2 Funding Fees: How Much Do They Charge? 

FX2 Funding provides traders with a variety of account options at clear and reasonable price structures. They are now eligible for substantial price cuts ranging from 30% to 50%. The prices for the Starter and Intermediate accounts begin at $95, but the Master’s account fees are $925. FX2 Funding offers one of the cheapest prices available.

Unlike the majority of other prop companies that bill every month, FX2 Funding offers exceptional value for their services. They provide impressive leverage ratios of 1:2 for cryptocurrency pairs, 1:5 for indices, and 1:100 for forex pairs.

One of the best things about FX2 Funding’s services is its policy on refundable charges. Traders who complete the evaluation process and file the initial payout request should expect to receive their assessment cost reimbursed as part of their reimbursement.

The costs of taking part in a proprietary trading firm’s program, especially if it allows traders to trade the firm’s capital, are referred to as forex prop trading fees. For many forex prop firms, especially those that conduct challenge or evaluation programs to screen potential traders, these fees are an essential part of their business strategy. Here’s a breakdown of the types of fees that traders might encounter:

1. Costs of challenges

Traders must pay this upfront to participate in a trading challenge or evaluation program. The challenge is simply an assessment of a trader’s capacity to turn a profit while abiding by particular risk management guidelines. The trader is typically given the option to trade using the company’s funds if they are successful. Depending on the firm, the amount of the sample account offered for the challenge, and the difficulty of the challenge itself, challenge fees can vary greatly.

2. Setup or administration fees for accounts

A one-time setup fee may be imposed by certain prop firms to create and maintain a trader’s account. This charge may cover the administrative expenses related to establishing the trading infrastructure, keeping an eye on the trader’s account, and providing other backend services required before the trader may start trading.

3. Desk fees per month

Desk fees are similar to what you would pay to hire the prop firm’s resources (such as software, data feeds, and trading tools) and real or virtual premises. Certain online FX prop businesses may charge a monthly fee for access to premium trading platforms or tools; this practice is more prevalent in conventional prop firms that include physical trading desks.

4. Divided Profits

The profit split arrangement is an important financial factor in prop trading, even though it isn’t a fee in and of itself. Traders can use the firm’s capital to trade if they pass a challenge, and any profits they make are divided into a predefined ratio between the trader and the firm. Splits that benefit the trader, like 70/30 or 80/20, are common. The details of the profit split must be understood since they have a direct impact on the trader’s potential earnings.

5. Data or Software Fees

When accessing specialized trading software, real-time data feeds, or analytical tools that aren’t part of the prop firm’s base package, traders may occasionally have to pay extra costs.

6. Training or Education Fees

Additionally, some prop companies provide mentoring programs, trading workshops, and training courses. These may be compulsory or optional components of the trading program, and the cost will vary greatly according to the breadth and length of the material.

Important Points: 

• Value for Money: Traders need to evaluate if a prop firm’s fees are reasonable given the services they receive, particularly about the availability of trading capital, the available technology, and the level of support.
• Transparency: Reputable prop businesses don’t have any hidden fees and are upfront about their price schedule. Before committing, traders should carefully read over all terms and conditions.
• Risk: Although it may seem tempting to pay fees in exchange for the opportunity to trade with a lot more capital, traders should think about the possibility of failing the challenge and losing the money they spend.

Prop trading on the forex market presents a special chance for traders to leverage larger amounts of capital than they could otherwise obtain. To make an informed choice on which prop firm to work with, it is crucial to comprehend the fee structure. 

FX2 Funding Proof of Payment:

Traders can expect to get their first payment within 7 days after investment, and then subsequent distributions every 14 days. The website requires account registration, as Deel.com processes all payments. After registration, traders can choose from several payout options, such as bank transfers, PayPal, Payoneer, Revolut, Wise, Coinbase, and Binance. 

FX2 Funding Customer Support: 

Traders can reach FX2 Funding in several ways:

• Email protected at fx2funding.com
• Phone: (516) 548-6471 +1

Join the social media networks:

• 6,471 followers on Instagram
• 3,335 followers on Twitter
• YouTube: 17 videos and 305 subscribers
• Facebook: forty thousand fans
• 2,424 followers on TikTok
• 1,704 followers on Discord

What Makes FX2 Funding Unique? 

At FX2 Funding, they take the security of user data extremely seriously. They employ industry-leading procedures and robust encryption technology to safeguard personal data. Even if certain data may be collected upon registration and used for specialized service delivery and targeted marketing efforts, all of it is kept safe and secure online, shielded from hackers and unauthorized access.

They forbid trading or selling user data to unaffiliated third parties. You only need to get in touch with us to seek such actions. You can request that your information be updated, restricted, removed, transferred, challenged, or withdrawn.

FX2 Funding Reviews: What Do Their Customers Say?

FX2 Funding has a rating of 4.6 stars out of 5 on Trustpilot, where 338 customers have left reviews. On Trustpilot, their company is verified. 

#1. It is among the best places to have financed accounts, if not the best. When you seek assistance, you get it quickly and with full assistance. My experience with the cTrader platform was slow, but it was limited to the demo account. There was never any lagging when I started using the FX2 live account. It functions flawlessly. Their platform functions flawlessly and has no problems. I’ve used a few different systems, and this one works the best for me. I heartily endorse it.

#2. Trustpilot was something I had heard about in the currency I’ve never utilized a platform before.

#3. Although I haven’t looked over the course yet, I just signed up, and so far, the experience has been positive.

#4. The funding is okay, but because 6% is so difficult to sustain, it is almost impossible for someone to pass in terms of drawdown. If it is true that you do not want the majority of your clients to fail the evaluation, then Fx2 kindly adjust this overall DD to at least 10% for your clients’ obvious prospects.

#5. The fraudulent and fake company has refused to give me my profits. Don’t believe many of them when they say nice things about themselves to attract new clients. Don’t waste your time or money on any difficulties with them. Please have faith in FTMO and other large prop firms; the FX2 money is fraudulent and being used to defraud several people.

Conclusion

FX2 Funding is a great option for traders of all experience levels looking for a simple and easy-to-use trading platform. It offers a range of educational materials, adaptable funding options, and reasonable trading fees to help traders make informed decisions in the forex market.

The assessment process is straightforward, and traders may get 24/7 support from customer care for any questions or issues they may have. FX2 Funding offers all the tools required for entrepreneurs and lone traders to prosper.

One of FX2 Funding’s best features is the variety of funding options it offers. Traders are allowed to use any preferred payment method, including bank transfer, credit card, and e-wallet. This suggests that traders can start trading right away and with any payment method that works best for them.

If you want to begin your trading journey, I recommend going with The Trading Pit’s Scaling Plan. Not only will you get instant funding with them but also get access to their vast selection of tools & resources.

Additionally, FX2 Funding offers reasonable, transparent trading fees that are free of extra fees or commissions, allowing traders to focus on growing their profits.

Finally, FX2 Funding provides 24/7 customer support to help with any questions or issues that may arise. This devoted support is invaluable, especially for traders who have limited experience in the market.