Fundedbytraders.com Review

Based on looking at the website, Fundedbytraders.com operates as a proprietary trading firm offering simulated trading challenges, with the promise of “funding” traders who demonstrate consistent profitability on demo accounts.

However, a into their offerings and disclaimers reveals significant concerns regarding their business model, particularly from an ethical standpoint and in relation to Islamic financial principles.

The core issue revolves around the simulated nature of the trading, the fee structure, and the potential for a business model that may not align with genuine investment or legitimate skill development.

Here’s an overall review summary for Fundedbytraders.com:

• Business Model: Offers simulated trading challenges with upfront fees.
• Actual Trading: All accounts are demo accounts with fictitious funds. trading occurs in a simulated environment only.
• “Funding”: Performance on demo accounts may lead to signals being copied by a partnered proprietary trading firm, at their discretion. There is no direct “funding” of the trader’s actual trading with real capital.
• Profit Sharing: Up to 100% profit split mentioned, but this is based on simulated profits and the firm’s discretion to copy trades.
• Transparency: While disclaimers are present, the emphasis on “Funded” and “Payout” might mislead users into believing they are trading real money.
• Risk Disclosure: Extensive disclaimers about the risks of speculative trading and that simulated results do not guarantee actual profits.
• Ethical Concerns Islamic Finance: The payment of non-refundable fees for accessing simulated trading, where “profits” are derived from hypothetical scenarios and not actual risk-taking on the part of the individual, raises significant questions about gharar excessive uncertainty and maysir gambling. The focus on speculative trading, even in a simulated environment with the promise of “payouts,” leans heavily into activities discouraged in Islam due to their speculative nature and lack of genuine productive economic activity. The inherent risk and the lack of a clear, tangible exchange of value for the fees paid make it problematic.

Fundedbytraders.com positions itself as an opportunity for traders to leverage significant capital without using their own, but the reality is that participants are paying fees to engage in simulated trading. The “payouts” are contingent on demonstrating profitability in a hypothetical environment, with the firm retaining the discretion to copy these simulated trades for their own benefit. This model, while increasingly common in the prop firm space, warrants extreme caution. It’s crucial to understand that the fees paid are for participation in an evaluation process of a simulated account, not for direct investment or guaranteed returns. From an ethical perspective, especially within Islamic financial guidelines, activities that involve significant uncertainty, upfront fees for non-tangible or hypothetical benefits, and a resemblance to games of chance are generally discouraged. The emphasis should always be on legitimate, productive enterprise and clear, equitable exchanges.

0.0 0.0 out of 5 stars (based on 0 reviews) Excellent0% Very good0% Average0% Poor0% Terrible0% There are no reviews yet. Be the first one to write one. Your review Your overall rating Select a Rating5 Stars4 Stars3 Stars2 Stars1 Star Title of your review Your review Your name Your email This review is based on my own experience and is my genuine opinion. ​ Submit Review

Amazon.com: Check Amazon for Fundedbytraders.com Review Latest Discussions & Reviews:

Instead of engaging in such high-risk, speculative endeavors that are fraught with uncertainty and often fall outside the bounds of Islamic financial ethics, individuals should focus on acquiring tangible skills and investing in legitimate, productive ventures.

Here are some excellent alternatives focusing on tangible skill development, ethical investment, and productive enterprise:

• Online Courses for Digital Skills
  • Key Features: Offers a wide range of courses in high-demand fields like programming, digital marketing, data analysis, and graphic design. These skills can lead to freelance work, employment, or entrepreneurship.
  • Average Price: Varies widely, from free e.g., Coursera audit tracks, YouTube tutorials to several thousand dollars for specialized certifications or bootcamps. Many platforms offer monthly subscriptions e.g., Coursera Plus, LinkedIn Learning for around $29-$49/month.
  • Pros: Develops marketable skills, leads to tangible outputs, promotes self-sufficiency, often flexible and self-paced.
  • Cons: Requires discipline, market demand for specific skills can shift, initial time investment before seeing returns.
• Entrepreneurship and Business Development Books
  • Key Features: Provides foundational knowledge for starting and growing a business, covering topics like market research, business planning, marketing, and financial management.
  • Average Price: $15-$30 per book, or access through library apps like Libby/OverDrive for free.
  • Pros: Empowers individuals to create their own income streams, fosters innovation, builds wealth through productive means, aligns with Islamic emphasis on honest trade.
  • Cons: Requires significant effort and risk, success is not guaranteed, can be a long journey.
• Crafting and Artisan Tools Kits
  • Key Features: Includes tools and materials for creating physical products e.g., woodworking, leatherworking, jewelry making from ethical sources, calligraphy sets. These skills can be monetized through direct sales or online marketplaces.
  • Average Price: $50-$300+ for a good starter kit, depending on the craft.
  • Pros: Develops fine motor skills and creativity, produces tangible goods, potential for niche market sales, offers a fulfilling hobby.
  • Cons: Can be expensive to start, requires practice to achieve quality, market for handmade goods can be competitive.
• Real Estate Investment Education
  • Key Features: Books, courses, and seminars on understanding real estate markets, property valuation, rental management, and ethical financing options.
  • Average Price: Books $20-$40. courses $100-$1000+.
  • Pros: Builds long-term wealth, provides stable income through rentals, tangible asset, aligns with Islamic principles of asset ownership and genuine transactions avoiding Riba.
  • Cons: High capital requirement, market fluctuations, management responsibilities, requires in-depth knowledge.
• Sustainable Agriculture and Gardening Supplies
  • Key Features: Tools, seeds, and educational materials for growing your own food or starting a small-scale farm.
  • Average Price: $30-$100 for basic gardening tools. seeds $5-$20 per pack.
  • Pros: Promotes self-sufficiency, healthy living, potential for selling produce, environmentally friendly, aligns with Islamic emphasis on benefiting from the earth.
  • Cons: Requires land/space, labor-intensive, dependent on weather, initial learning curve.
• Professional Certifications e.g., Project Management
  • Key Features: Industry-recognized certifications that validate specialized knowledge and skills, improving employability and earning potential in various sectors.
  • Average Price: Exam fees typically $200-$500+, plus cost of preparatory courses $500-$2000+.
  • Pros: Enhances career prospects, demonstrates expertise, often leads to higher salaries, provides a structured path for skill development.
  • Cons: Can be expensive and time-consuming, requires ongoing professional development, not all certifications are equally valued.
• Language Learning Software and Books
  • Key Features: Comprehensive programs and resources for acquiring proficiency in a new language, opening up opportunities in translation, international business, or simply broadening horizons.
  • Average Price: Software subscriptions e.g., Rosetta Stone, Babbel $10-$20/month. books $15-$30.
  • Pros: Enhances cognitive abilities, expands cultural understanding, creates new career opportunities e.g., translation, international relations, valuable for travel and dawah.
  • Cons: Requires significant dedication and consistent practice, progress can be slow, fluency takes years.

---

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Fundedbytraders.com Review & First Look

When examining Fundedbytraders.com, the immediate impression is one of a sleek, modern platform designed to attract aspiring traders looking to bypass the capital requirements of traditional trading.

The website immediately hits you with enticing phrases like “Profit Today. Paid Today.

Daily rewards now available.” This kind of language is designed to create a sense of immediate gratification and high potential returns, which, for anyone familiar with the realities of financial markets, should immediately raise a red flag.

Understanding the Prop Firm Model at Fundedbytraders.com

The site explicitly states: “Please note that all accounts we provide to our clients are demo accounts with fictitious funds and any trading is in a simulated environment only.” This single sentence is the most crucial piece of information on the entire website. It clarifies that you are not actually trading real money and therefore are not directly generating real profits or losses through your own trading activity. Instead, you are participating in a simulated evaluation. The firm’s business model, like many “prop firms” of this nature, relies on charging fees for these evaluations. If a trader performs well in the simulated environment, the firm may choose to copy their trades with real capital, but this is at the firm’s discretion and using their own aggregated orders and risk management. This means the individual trader isn’t directly trading and earning from a real account they manage. This model inherently differs from traditional brokerage or investment, where an individual directly invests and manages their own capital or capital managed by a licensed financial advisor.

Initial Impressions and Disclaimers

The website’s homepage does feature extensive disclaimers at the bottom, stating that “FBT is not a financial institution. Thebluerooms.net Review

This website does not promote or sell any financial products or services.

Clients are provided with demo accounts that contain simulated funds for trading activities.” This is a significant piece of information that, while present, is often overlooked by users drawn in by the flashy marketing.

They also state, “We don’t believe in ‘get rich quick’ systems” and provide warnings about the high risks of speculative trading.

While these disclaimers are legally sound, their placement and the overall marketing tone can create a cognitive dissonance for potential users, who might still interpret the offer as a direct path to wealth through trading.

For instance, the statement “100% Payout Guarantee” directly under “About Us” might suggest guaranteed profit distribution, yet the context reveals it’s from simulated profits and based on the firm’s approval. Kikatek.com Review

Lack of Key Transparency Elements

What’s missing from the immediate visibility on the homepage are clear, concise explanations of how the firm generates its revenue from these simulated challenges, beyond the obvious fees. While the disclaimers hint at it, a direct explanation of the firm’s financial incentives is not front and center. Furthermore, there’s no mention of regulatory oversight from financial authorities, which is crucial for any entity involved in financial activities, even simulated ones, if they are to gain trust. While based in Dubai, UAE, simply providing an address and company registration number 15901503 for Funded By Traders L.L.C-FZ does not equate to being regulated by a financial authority for offering financial services or products to the public. For any legitimate financial service, details about regulatory bodies and licenses are paramount. The absence of such information on the main page is a notable oversight for those seeking reassurance about legitimacy and adherence to established financial practices.

Fundedbytraders.com Business Model and Operations

Delving deeper into how Fundedbytraders.com operates reveals a model that, while popular in the “prop firm” niche, comes with inherent risks and characteristics that require careful consideration.

The core proposition is to identify profitable traders through a series of “challenges” using simulated funds, with the eventual promise of a “profit split” if certain targets are met. This isn’t a direct investment platform. it’s an evaluation service.

The “Challenge” Mechanism

Fundedbytraders.com offers various “challenges” or “assessments” like “One step assessment,” “Standard assessment,” “Instant Funding Pro,” and “Instant Lite.” Each of these comes with a one-time fee, which varies depending on the “virtual capital” amount desired e.g., 5k, 10k, 25k, 50k, 100k for different challenge types. This fee is non-refundable, as implied by the terms and conditions. The challenges involve specific rules such as:

• Minimum Trading Days: Typically 3 days.
• Maximum Daily Loss: Usually 4% or 5%.
• Maximum Loss: Often 6% or 8%.
• Profit Target: For evaluation phases, targets are set e.g., 10% or 8%.
• Drawdown Type: Static or Trailing.
• News Trading: Generally permitted.

These rules are designed to test a trader’s discipline and risk management skills in a controlled, simulated environment. Jncb.com Review

Successfully navigating these phases leads to a “funded” account, which, again, is still a simulated account.

“Funded” Account Realities

When a trader passes a challenge and gets a “funded” account, it remains a “fully simulated account that uses real market quotes from liquidity providers.” The crucial part is that “The trading data is sent to a partnered proprietary trading firm, where trade signals are copied at their own discretion, using aggregated orders and proprietary risk management techniques.” This means:

1. No Direct Real Trading: The individual trader never directly places trades with real money themselves. They are generating signals.
2. Firm’s Discretion: Whether their simulated trades are actually copied into a live market by the firm is entirely at the firm’s discretion. There’s no guarantee that every successful simulated trade will result in a real trade.
3. Aggregated Orders: The firm might aggregate signals from multiple successful traders, making it impossible to track individual performance against actual market outcomes.
4. Proprietary Risk Management: The firm’s risk management takes precedence, meaning they can choose not to copy a trade, or to close a position, even if the simulated trader maintains it.

This complex arrangement means the “payouts” are essentially a percentage of the simulated profits generated by the individual on their demo account, which the firm might have replicated in the real market. The 100% profit split mentioned is tempting, but the underlying mechanism is not a straightforward division of profits from a real trading account managed by the user.

Revenue Generation and Sustainability

The primary revenue stream for Fundedbytraders.com appears to be the upfront fees paid by individuals for entering the evaluation challenges. With “2000+ Sign Ups” as claimed on their homepage, even at the lowest challenge fee, this represents a substantial income. This model is sustainable as long as new traders continue to sign up for challenges. The incentive for the firm is to identify consistently profitable strategies that they can then leverage with their own capital, rather than relying on the long-term success of individual traders directly handling real money. The “payouts” then become a marketing cost to attract more aspiring traders, while the bulk of the revenue comes from evaluation fees. This is a common characteristic of many “prop firms” in this space: the real business is often the sale of evaluations, not necessarily the actual trading.

Fundedbytraders.com Pros & Cons with a Focus on Cons

When evaluating a platform like Fundedbytraders.com, it’s essential to look beyond the marketing sizzle and delve into the practical implications. Discoveryplus.com Review

While some might see potential benefits, the inherent structure of this model, particularly from an ethical and financial prudence perspective, leans heavily towards significant drawbacks.

Cons of Fundedbytraders.com

1. Simulated Environment, Real Fees: This is the most critical drawback. You are paying a non-refundable fee which can range from $65 to much higher for larger simulated accounts for the opportunity to trade with fictitious funds. Your “profits” are entirely theoretical until the firm decides to make a payout based on your simulated performance. This creates a disconnect: real money is spent, but only simulated activity occurs.
2. High Risk of Losing Evaluation Fee: The rules of the challenges are strict e.g., maximum daily loss, maximum overall loss. A single misstep can lead to failing the challenge and forfeiting your upfront fee. Many traders, especially novices, find it difficult to consistently adhere to these strict parameters under pressure, making repeat purchases of challenges common. This becomes a recurring expense without any guarantee of a real return.
3. Lack of Direct Control Over Real Capital: Even if you pass the evaluation, you are not “funded” in the sense of managing real capital directly. Your trades are signals that the firm may or may not copy. This means your personal trading skill, even if validated in simulation, doesn’t directly translate into independent wealth generation on a real account. You are still dependent on the firm’s discretion and internal processes.
4. Psychological Impact of Simulated Success: Performing well in a simulated environment can create a false sense of security and overconfidence. The pressure, market impact, and emotional swings of real capital trading are significantly different from demo trading. This can lead individuals to risk more real money in other avenues, mistakenly believing their simulated success guarantees real-world results. The website’s disclaimer explicitly states: “Simulated or hypothetical performance results have certain limitations. These results do not represent actual trading and may have under or over-compensated for certain market factors such as lack of liquidity. Additionally, simulated trading programs, in general, are designed with the benefit of hindsight.”
5. Unclear Regulatory Oversight: While the firm provides a company registration number and an address in Dubai, UAE, there’s no clear indication of regulation by a reputable financial authority that would oversee “prop firms” or protect individuals paying fees. In the absence of such oversight, recourse in case of disputes or issues with payouts can be extremely limited. Legitimate financial institutions are typically regulated by bodies like the SEC, FINRA, or FCA, which offer a layer of consumer protection and ensure adherence to strict financial standards.
6. “Get Rich Quick” Perceptions: Despite their disclaimer, the overall marketing language of “Profit Today. Paid Today.” and “Skip the Evaluation!” for a higher fee can easily foster a “get rich quick” mentality. This is a dangerous mindset in finance, where genuine wealth building is about consistent effort, long-term strategy, and understanding fundamental value, not speculative gambles on market movements.
7. Ethical Concerns Islamic Finance Perspective: From an Islamic finance viewpoint, the model raises several ethical red flags. The upfront fee for a non-tangible, simulated service with uncertain “payouts” can be likened to gharar excessive uncertainty. The speculative nature of Forex/Crypto/CFD trading, even in simulation, combined with the fee structure, can also resemble maysir gambling, where money is risked on an uncertain outcome without tangible productive output. Islamic finance encourages genuine transactions, tangible assets, and productive economic activity, which this model largely sidesteps. The focus should be on fair and transparent exchange of value, and the payment for access to simulated trading with a hypothetical payout doesn’t align well with these principles.

Limited “Pros” of Fundedbytraders.com

It’s difficult to highlight substantial “pros” for this model, especially when viewed through a lens of ethical and prudent financial practice.

However, if one were to stretch, they might include:

1. Access to “Virtual Capital”: For aspiring traders who lack significant personal capital, this model offers a way to practice with large virtual sums, which might provide a psychological boost, albeit a simulated one.
2. Learning Risk Management in Simulation: The strict rules enforce a level of risk management discipline, which could be beneficial for developing good habits if the trader were to ever engage in real trading.
3. Exposure to Trading Platforms: Users get to experience trading on platforms like CTrader and Matchtrader without risking their own money directly.

However, these “pros” are heavily outweighed by the fundamental cons, especially the cost of the evaluation, the simulated nature of the “funding,” and the ethical concerns surrounding the business model.

Fundedbytraders.com Alternatives

Given the significant drawbacks and ethical concerns surrounding models like Fundedbytraders.com, especially from an Islamic finance perspective, it’s crucial to explore alternatives that focus on genuine skill development, tangible value creation, and ethical wealth building. Heraklionairport.org Review

Instead of paying fees for simulated trading with uncertain hypothetical payouts, consider avenues that lead to real, sustainable income and professional growth.

Investing in Skills Development and Education

Instead of paying for access to simulated trading, invest in acquiring in-demand skills that have clear market value. These skills can be monetized through employment, freelancing, or starting your own business.

• Online Courses for Digital Marketing: Platforms like Coursera, Udemy, edX, and Google Digital Garage offer courses in SEO, content marketing, social media marketing, and paid advertising. These are tangible skills that businesses consistently need.
• Web Development Bootcamps and Resources: Learning to code e.g., Python, JavaScript, HTML/CSS opens doors to high-paying jobs and freelance opportunities. There are numerous free resources Codecademy, freeCodeCamp and paid bootcamps that provide immersive training.
• Data Analysis and Business Intelligence Certifications: The ability to interpret data and extract actionable insights is a valuable skill across almost every industry. Certifications from IBM, Microsoft, or specialized data science platforms can significantly boost career prospects.

Building a Legitimate Business

Instead of trying to “trade” simulate someone else’s money, focus on building your own business, however small.

This aligns perfectly with Islamic principles of honest trade and productive enterprise. Adlar.com Review

• E-commerce Business Setup Guides: Learn how to set up an online store e.g., via Shopify, WooCommerce and sell physical or digital products. This involves real product creation, marketing, and customer service.
• Freelancing Service Guides e.g., writing, virtual assistant: Offer your skills writing, administrative support, design, programming as a freelancer on platforms like Upwork or Fiverr. This builds a real client base and tangible income.
• Local Service Business Planning Books: Consider starting a local service business – cleaning, tutoring, handyman services, or a specialized consultancy. These require minimal startup capital and provide direct value to customers.

Ethical Investment Avenues

For those interested in wealth growth, focus on truly ethical and productive investment.

• Halal Stock Market Investment Books: Learn about investing in companies that comply with Sharia principles e.g., no interest-based debt, no involvement in forbidden industries like alcohol or gambling. This involves owning a share of a real, productive business.
• Real Estate Investment for Income e.g., rental properties: Investing in physical property for rental income or long-term appreciation is a tangible asset-based investment. This can provide consistent income and align with principles of productive capital.
• Participatory Finance e.g., crowdfunding for ethical businesses: Explore platforms that connect investors with small and medium-sized ethical businesses seeking capital, often structured as profit-sharing or equity-based arrangements, avoiding interest.

These alternatives require genuine effort, learning, and often patience, but they build real skills, create tangible value, and align with ethical financial principles.

They offer a path to sustainable income and wealth that avoids the pitfalls and ethical ambiguities of speculative, simulated trading platforms.

How to Avoid Similar Questionable Platforms

In the vast and often opaque world of online financial opportunities, discerning legitimate avenues from questionable ones is paramount.

The allure of quick profits can be strong, but understanding how to spot red flags and apply a critical lens is your best defense. Universitiespage.com Review

Research, Research, Research

• Scrutinize the “About Us” Section: A legitimate company will have a clear and transparent “About Us” page detailing their history, mission, leadership team, and physical address. If it’s vague, generic, or missing key information, it’s a red flag. Look for real names, not just generic roles.
• Check for Regulatory Compliance: Any company dealing with financial services even if simulated, but involving money exchanges should ideally be regulated by a recognized financial authority in their jurisdiction. Search for their license numbers and verify them on the regulator’s official website e.g., SEC, FINRA, FCA, DFSA. If no regulatory body is mentioned, or if vague claims are made, proceed with extreme caution.
• Read Reviews, Critically: Don’t just look at the average star rating. Dive into the detailed reviews, especially on independent sites like Trustpilot, Google Reviews, or Reddit. Look for patterns in complaints, such as difficulty with withdrawals, hidden fees, or unresponsive customer support. Be wary of reviews that sound overly enthusiastic or generic, as they could be fabricated.
• Verify Physical Address and Contact Information: A legitimate business will have a verifiable physical address and multiple ways to contact them phone, email, live chat. Do a Google Maps search of their address. Is it a real office building, or a P.O. Box/virtual office?
• Understand the Business Model: This is critical. How does the company make money? If they are promising high returns for little effort, or if their primary revenue comes from upfront fees rather than genuine trading or product sales, it’s a significant warning sign. As the saying goes, “If you’re not paying for the product, you are the product.” In this context, if you’re paying to play a simulated game, your fees are the product.

Understand the Risks Involved

• No “Get Rich Quick” Schemes: Real wealth is built through consistent effort, value creation, and often, patience. Any promise of rapid, guaranteed, or exceptionally high returns with minimal effort should trigger your skepticism. The global average stock market return has historically been around 7-10% annually before inflation. Promises exceeding this significantly, especially with low risk, are unrealistic.
• The Difference Between Simulated and Real: Be extremely cautious of platforms that rely on “simulated” or “demo” accounts but charge real money for access or “payouts.” The psychological and financial realities of real trading are vastly different from simulated environments. Simulated success does not guarantee real-world profit.
• High Leverage is a Double-Edged Sword: Many speculative trading platforms emphasize high leverage. While it can amplify gains, it equally amplifies losses. For every success story, there are countless others who lost their initial capital rapidly.
• Be Skeptical of Anonymous or Vague Leadership: If you can’t find information about the founders or key executives, or if their profiles are vague, it’s a concern. Transparency in leadership builds trust.

Apply an Ethical and Prudent Financial Lens

• Avoid Gambling and Speculation: In Islamic finance, activities that are purely speculative, resemble gambling maysir, or involve excessive uncertainty gharar are prohibited. This includes contracts where the outcome is entirely unknown or depends on chance, and where one party benefits at the expense of another without a clear, tangible exchange of value.
• Focus on Tangible Value and Productive Enterprise: Ethical finance encourages investment in real assets, goods, and services that contribute to the economy and society. This could be through starting a business, investing in halal stocks, or engaging in ethical real estate.
• Beware of Riba Interest: Ensure that any financial arrangement does not involve interest riba, whether paid or received. This includes traditional loans, credit cards with interest, and certain investment products.

How to Cancel Fundedbytraders.com Subscription / Account

Based on the information available on the Fundedbytraders.com website, there isn’t a prominent, direct “cancel subscription” button or an explicit section detailing how to cancel an account or a recurring payment. This lack of transparency is a common characteristic of platforms that benefit from recurring payments or long-term engagement. Typically, for services that involve one-time fees for “challenges” or “evaluations” rather than continuous monthly subscriptions, cancellation might refer to simply not engaging further or not purchasing additional challenges. However, if there are any actual subscription-based services, or if a user wishes to formally close their account, the process usually involves contacting customer support.

General Steps to Attempt Account Cancellation

1. Review Terms and Conditions: The first step should always be to thoroughly read the “Terms and Conditions” T&Cs and “Returns and Refunds” policies on their website. Look for clauses related to account termination, refunds, or subscription cancellations. The T&Cs on Fundedbytraders.com state that “Purchases should not be regarded as deposits. All program charges are utilized for working expenses including, however not restricted to, staff, innovation, and other business-related costs.” This strongly suggests fees are non-refundable.
2. Contact Customer Support Directly: Since there’s no clear self-service option, you would need to contact their customer support.
   • Email: Look for a support email address. Often, this is found in the “Contact Us” or “FAQs” section.
   • Live Chat: Some platforms offer a live chat feature, which can be the quickest way to get an immediate response.
   • Account Manager: The website mentions “Account Managers” assigned upon purchase. This would be your primary point of contact for any account-related queries, including cancellation requests.
3. Submit a Formal Request in Writing: When contacting support, state clearly and unequivocally your intention to cancel your account or any associated subscriptions. Keep a record of your communication emails, chat transcripts, or a log of phone calls. Include your account details username, email associated with the account to help them locate your profile.
4. Check for Confirmation: Request a confirmation of cancellation once your request has been processed. This is crucial for your records.
5. Monitor Your Payment Methods: If you have provided credit card or PayPal details, monitor your statements closely for any further charges. If unauthorized charges appear after cancellation, dispute them with your bank or payment provider immediately, providing them with your cancellation records.

Specifics from Fundedbytraders.com

Given their model of selling “challenges” as one-time fees, it’s highly probable that “cancellation” primarily means you simply stop purchasing new challenges.

If you passed a challenge and are in a “funded” simulated account phase, ceasing to trade or simply not engaging further is the de facto “cancellation.” The concern would only arise if they automatically enroll users into recurring payment plans, which doesn’t seem to be explicitly highlighted for the core challenge products.

Important Note: The “Returns and Refunds” policy states: “We offer a 14-day refund policy for our challenges, provided that no trades have been placed on the account and no breaches have occurred.” This means if you purchase a challenge and decide not to proceed before making any trades, you might be eligible for a refund within 14 days. Once trading begins, or if you breach any rules, the fee is non-refundable. This policy is primarily for the challenge purchase, not for a continuous “subscription.”

In summary, the process for “canceling” with Fundedbytraders.com likely revolves around stopping further purchases and, if applicable, formally requesting account closure through their customer support channels, being aware that initial challenge fees are largely non-refundable once activated. Dumbomoving.com Review

Fundedbytraders.com Pricing

Understanding the pricing structure of Fundedbytraders.com is crucial, as the primary revenue stream for the platform appears to be the upfront fees paid by individuals for participating in their simulated trading challenges.

These are not recurring subscriptions in the traditional sense, but rather one-time payments for access to a specific evaluation or “instant funding” pathway.

Challenge Pricing Tiers

The website displays several challenge types, each with varying virtual capital amounts and corresponding one-time fees. Here’s a breakdown based on the provided text:

• One Step Assessment:
  • One-time fee: Starting at $65
  • Virtual Capital Options: 5k, 10k, 25k, 50k, 100k fees would increase with higher virtual capital
• Standard Assessment:
• Instant Funding Pro:
  • One-time fee: Starting at $99
• Instant Lite:
  • One-time fee: Starting at $150
  • Virtual Capital Options: 2.5k, 5k, 10k, 25k, 50k fees would increase with higher virtual capital

The specific dollar amounts for each virtual capital tier e.g., how much a 100k One Step Assessment costs are not explicitly listed in the provided text beyond the starting fees.

However, it’s a common industry practice for the fee to scale proportionally with the virtual capital size. Colognecurators.com Review

“Skip the Evaluation” Options

Fundedbytraders.com also offers options to “Skip the Evaluation!” for a higher one-time fee:

• Skip Evaluation Option 1:
  • One-time fee: $99
  • This implies direct access to a “funded” simulated account, bypassing the multi-phase assessment.
• Skip Evaluation Option 2:
  • One-time fee: $150
  • Another direct access option, likely with different parameters or virtual capital amounts.

These “skip” options are designed to appeal to traders who are confident in their abilities and wish to bypass the evaluation process, but they come at a higher upfront cost, still for a simulated account.

Payment Plans

The website mentions “Payment Plan” as an option, but no details are provided about how these plans work, what the terms are, or what services they apply to.

This lack of detail is a significant omission, as payment plans can introduce complexity and potential hidden costs if not clearly outlined.

Discounts and Promotions

The pop-up offering “unlock 40% off all evaluations” by entering an email suggests that the platform frequently uses discounts as a marketing tool to attract new sign-ups. Riverside.fm Review

This is typical for online services and indicates a strong reliance on acquiring new paying participants.

The True Cost: Fees vs. Real Value

The pricing model fundamentally shifts the risk. Instead of the firm risking its capital on an unproven trader, the trader pays a non-refundable fee for the opportunity to prove themselves in a simulated environment. If the trader fails which a significant percentage do due to strict rules, the firm retains the fee. If the trader succeeds, they get a “payout” based on simulated profits, and the firm potentially gains a profitable strategy to replicate with its own money.

From an ethical perspective, especially in Islamic finance, this model raises concerns about gharar excessive uncertainty. The fees are paid upfront for an uncertain outcome passing the challenge and receiving payouts based on simulated trading. While the service is providing access to a platform and an evaluation system, the primary value proposition is linked to hypothetical future earnings from simulated activities. For individuals seeking to grow their wealth ethically, focusing on tangible investments and direct productive enterprise, where value exchange is clear and risk is transparently shared, would be far more prudent.

Fundedbytraders.com vs. Competitors

The proprietary trading firm prop firm industry has seen a significant boom, particularly those operating in the “retail prop firm” model, where individuals pay fees to trade simulated accounts with the promise of profit-sharing.

Fundedbytraders.com is one player in this competitive space, alongside numerous others like FTMO, The Funded Trader, MyForexFunds now defunct or rebranded after regulatory issues, and True Forex Funds. Velvetjobs.com Review

Understanding how Fundedbytraders.com stacks up against these competitors involves examining their core offerings, challenge rules, pricing, transparency, and overall reputation.

Core Business Model: Similarities Across the Board

At their core, most retail prop firms, including Fundedbytraders.com, operate on a similar fundamental model:

• Simulated Trading: Almost all of them explicitly state that client accounts are demo/simulated. This is a crucial, non-negotiable point. They use virtual capital.
• Evaluation Challenges: They all implement multi-phase or single-phase challenges with strict rules daily drawdown, overall drawdown, profit targets, minimum trading days.
• Upfront Fees: Participants pay non-refundable fees to enter these challenges. This is the primary revenue stream for many of these firms.
• Profit Split: Upon passing evaluations, firms offer a profit split e.g., 70/30, 80/20, or even 90/10 in favor of the trader on the simulated profits generated, which the firm may replicate with real capital.

Key Differentiators Among Prop Firms

While the core model is similar, nuances exist:

1. Challenge Rules and Parameters:
   • Fundedbytraders.com: Offers “One Step Assessment” and “Standard Assessment” with varying drawdown types Static, Trailing and daily/overall loss limits e.g., 4% daily, 6% overall for One Step. 5% daily, 8% overall for Standard. News trading is permitted.
   • Competitors e.g., FTMO, The Funded Trader: Often have similar, if not tighter, rules. FTMO, for instance, has a 5% daily loss and 10% maximum loss. Some firms restrict news trading or hold times. The stringency of rules directly impacts the difficulty of passing. Fundedbytraders.com’s “Static” drawdown for some challenges can be perceived as more forgiving than “Trailing” drawdowns offered by some competitors.
2. Pricing Structure:
   • Fundedbytraders.com: Fees start from $65 for smaller virtual capital amounts. They also offer “Instant Funding” options at higher upfront costs.
   • Competitors: Pricing is generally comparable, scaling with virtual capital size. FTMO’s initial challenge for a $10,000 account might be around $155 EUR, which is higher than Fundedbytraders.com’s starting fee. Some firms offer cheaper “micro” challenges.
3. Profit Split:
   • Fundedbytraders.com: Mentions “Up To 100% Profit Split!” This is a very aggressive claim, but the actual initial split for “funded” accounts is usually lower e.g., 80% initially and scales up with consistent performance or joining exclusive tiers like their “Golden Circle.”
   • Competitors: Most commonly offer 80/20 splits initially, with some scaling plans reaching higher percentages like 90/10. The 100% claim by FBT is an outlier and requires scrutiny of their terms for achieving it.
4. Platforms Offered:
   • Fundedbytraders.com: CTrader, Matchtrader.
   • Competitors: Often MetaTrader 4 MT4 and MetaTrader 5 MT5, cTrader, and sometimes proprietary platforms. Offering multiple popular platforms is a plus.
5. Transparency and Disclaimers:
   • Fundedbytraders.com: Has extensive disclaimers about simulated trading and risks, although they are at the bottom of the page.
   • Competitors: Most reputable prop firms are equally explicit about the simulated nature of the accounts, often dedicating entire FAQ sections to it. The key difference lies in how prominently this information is presented relative to the marketing.
6. Regulatory Status and Reputation:
   • Fundedbytraders.com: Provides a company registration number in Dubai. However, specific regulatory oversight from a financial authority for “prop firm” activities is not prominently displayed.
   • Competitors: Many have faced scrutiny. MyForexFunds, a major player, was shut down by regulators in the US and Canada for allegedly operating as a fraud scheme, highlighting the regulatory risks in this unregulated space. This makes the question of regulatory oversight paramount. The fact that a firm is based in a jurisdiction and has a company number does not automatically mean it is regulated for the specific activity of offering “prop firm” challenges to international clients.

Overall Assessment

Fundedbytraders.com operates within the established retail prop firm model. Their “100% Payout Guarantee” and “Up To 100% Profit Split” claims are aggressive and stand out, potentially drawing more attention. However, like all firms in this space, the core reality remains: you pay fees for simulated trading. The legitimacy and ethical standing of such platforms, particularly in an unregulated environment, are constantly under scrutiny.

From an Islamic financial perspective, the entire model of paying non-refundable fees for a simulated activity with uncertain “payouts” remains problematic due to the presence of gharar excessive uncertainty and its resemblance to maysir gambling. While they might be competitive in terms of rules or profit splits, the fundamental ethical dilemma of risking real money on a hypothetical scenario persists across the industry. The regulatory crackdowns on some firms further underscore the inherent risks and the need for extreme caution. It’s not about which prop firm is “best” in this category, but whether participating in this category aligns with one’s financial and ethical principles. Asbeconcerned.com Review

FAQ

What is Fundedbytraders.com?

Fundedbytraders.com is an online platform that positions itself as a proprietary trading firm, offering individuals the opportunity to participate in simulated trading challenges using fictitious funds.

If successful in these challenges, traders may receive a “payout” based on their simulated profits, with the firm potentially copying these simulated trades in a real market.

Is Fundedbytraders.com legitimate or a scam?

Based on its website, Fundedbytraders.com explicitly states that all trading is in a simulated environment with fictitious funds.

While it’s not a scam in the sense of stealing money outright, its business model involves paying fees for simulated trading, which can be misleading if users expect to directly trade real capital.

Its legitimacy hinges on transparency regarding the simulated nature and the firm’s payout process, which requires careful review of its terms. Yes2drivingacademy.com Review

What is a “prop firm” in the context of Fundedbytraders.com?

In the context of Fundedbytraders.com, a “prop firm” proprietary trading firm is a company that evaluates traders through simulated challenges. If a trader demonstrates profitability in this simulated environment, the firm may then provide access to “funded” accounts still simulated where their signals might be replicated with the firm’s real capital. The individual trader does not manage real funds directly.

Am I trading live or demo on Fundedbytraders.com?

According to Fundedbytraders.com, all accounts provided to clients, including “funded” accounts, are “fully simulated accounts that use real market quotes from liquidity providers.” You are not trading live money directly.

How does Fundedbytraders.com make money?

Fundedbytraders.com primarily generates revenue through the non-refundable fees paid by individuals for participating in their simulated trading challenges and “instant funding” options.

They also potentially profit if they successfully replicate profitable simulated trades with their own real capital.

What are the challenge rules on Fundedbytraders.com?

The challenge rules on Fundedbytraders.com typically include parameters such as minimum trading days e.g., 3 days, maximum daily loss e.g., 4% or 5%, maximum overall loss e.g., 6% or 8%, and a profit target for evaluation phases. Silverfish-uk.com Review

Can I get a refund for a challenge fee on Fundedbytraders.com?

According to their “Returns and Refunds” policy, Fundedbytraders.com offers a 14-day refund policy for challenges, provided that no trades have been placed on the account and no breaches have occurred. Once trading begins or rules are breached, the fee is generally non-refundable.

What is the “Golden Circle” at Fundedbytraders.com?

The “Golden Circle” at Fundedbytraders.com is an exclusive group for traders who have proven consistent profitability for a 6-month period.

Invitation to this group, following a successful interview, grants direct access to founders and the CEO, along with potential opportunities for “A Booked with live funds” and invitations to events.

What trading platforms does Fundedbytraders.com support?

Fundedbytraders.com supports CTrader and Matchtrader trading platforms for its simulated challenges.

Does Fundedbytraders.com offer “instant funding”?

Yes, Fundedbytraders.com offers “Instant Funding Pro” and “Instant Lite” options, which allow traders to bypass the multi-phase evaluation for a higher one-time fee, gaining immediate access to a “funded” simulated account. Irwell-law.com Review

How are payouts handled by Fundedbytraders.com?

Fundedbytraders.com claims “100% Payout Guarantee” and states that “All payouts are guaranteed within 24 hours of approval.” These payouts are based on the simulated profits generated by the trader on their demo account.

Are there any hidden trading rules with Fundedbytraders.com?

Fundedbytraders.com claims “No Hidden Trading Rules,” encouraging traders to choose their trading style.

However, users should always thoroughly review the detailed terms and conditions, as specific restrictions e.g., consistency rules, limitations on certain strategies might be outlined there.

What kind of customer support does Fundedbytraders.com offer?

Fundedbytraders.com states they offer “24/7 Customer Support” and that “Each Trader is assigned an account manager upon purchase.”

Where is Fundedbytraders.com based?

Fundedbytraders.com is based in Dubai, UAE, with a physical address provided as 6th Floor Meydan Grandstand, Meydan, Dubai.

Their company registration number is 15901503 for Funded By Traders L.L.C-FZ.

Is speculative trading, even in simulation, permissible in Islam?

Engaging in highly speculative activities, even in simulation, when real money is paid for access to an uncertain outcome, raises concerns in Islamic finance. Such activities can resemble maysir gambling due to the significant elements of chance and gharar excessive uncertainty, which are generally prohibited.

What are the ethical concerns with Fundedbytraders.com from an Islamic perspective?

The primary ethical concerns include the payment of non-refundable fees for simulated trading with no direct real capital involvement by the individual, leading to excessive uncertainty gharar. The speculative nature of the underlying Forex/Crypto/CFD markets, even in simulation, combined with the fee structure, can also resemble gambling maysir, where one risks money on an uncertain outcome without tangible productive output.

Does Fundedbytraders.com have regulatory oversight?

While Fundedbytraders.com provides its company registration number in Dubai, the website does not prominently display or detail specific regulatory oversight by a financial authority that would protect individuals paying fees for their services.

This is a critical factor for any entity involved in financial-related activities.

Can I actually get rich quick with Fundedbytraders.com?

No.

Fundedbytraders.com itself explicitly states in its disclaimers, “We don’t believe in “get rich quick” systems.

Speculative trading in particular has large potential rewards, but also large potential risks.” Any perception of quick wealth from such platforms is generally unrealistic and unsupported by the disclaimers.

What does “unlimited” mean for trading period or minimum trading days on Fundedbytraders.com?

“Unlimited” for the trading period typically means there is no time limit to complete the evaluation phase or to maintain a “funded” account, allowing traders to take their time.

“Unlimited” for minimum trading days likely means there is no specific lower bound on the number of days you must trade, as long as you meet other criteria.

What is the “drawdown type” Static vs. Trailing on Fundedbytraders.com?

• Static Drawdown: The maximum loss limit is fixed based on your initial simulated account balance. For example, if you start with $10,000 and have a 6% static drawdown, your account equity cannot fall below $9,400, regardless of how much profit you make.
• Trailing Drawdown: The maximum loss limit “trails” your highest achieved balance. If your account equity reaches a new high, your maximum loss limit adjusts upwards. This can be more restrictive than a static drawdown once profits are made, as your “buffer” above the highest peak shrinks.