FX2 Funding Review

FX2 Funding Ratings at a Glance

Thanks to its performance-based evaluation, profit-sharing structure and dedicated professional support, FX2 Funding offers traders and investors new opportunities to enhance their forex trading or investment success via fast funding access. 

Remember, there’s only one step in the evaluation, and there are no time limits on your account. This means you start off easily and don’t feel the pressure that other platforms might generate.

Besides forex, you can trade other instruments, including indices and crypto, with excellent leverage. However, like most proprietary firms, you must demonstrate robust performance during the evaluation phase to access the capital. This process entails consistently applying effective trading or investment strategies, practicing sound risk management and showcasing profitable outcomes. 

FX Funding offers the most straightforward single-phase evaluation with relaxed rules. With a comprehensive trading or investment plan, you can seamlessly demonstrate your capability and get funded. This process involves setting clear goals, recognizing potential risks and formulating a solid strategy to handle those risks effectively. 

FX2 Funding supports weekend holding, news and copy trading and the use of EAs, so you have flexibility in trading with your preferred strategy. There is no mandatory minimum or maximum timeframe to pass the evaluation and no stop-loss requirement. However, to qualify for funding, you must demonstrate 10% trading gains without violating its drawdown rules. The daily drawdown (your maximum allowable loss in a single day) is 4% of your previous day's closing balance. Once your negative equity reaches 4% of your closing balance of the prior day, the system will flag the breach and automatically terminate your account. For clarity, your previous day's closing balance is your account's total funds at the end of the trading day. 

It differs from your previous day's equity, which reflects your account's net value, accounting for profits, losses and closed positions. So, if your account had a closing balance of $10,000 from the previous day, the account termination threshold would be triggered if your equity dropped to $9,600. Even if your account had unrealized gains or losses (floating equity) of $500 at the previous day's closing, the termination threshold would still apply, and your account would be terminated if your equity reached $9,600. The maximum drawdown is 6% of your total account size and trails your account until you achieve a 6% return on your account, at which point the drawdown locks at your initial balance. 

For a total account size of $10,000, the maximum drawdown rules will be violated when your account breaches $9,400. If you achieve a $500 profit with a closed balance, your maximum allowable loss before termination increases by $500 to $9,900. As your account balance grows and exceeds your initial capital, your maximum drawdown limit becomes fixed at your initial starting balance of $10,000. This enables you to reinvest and grow your account without breaching the maximum drawdown threshold. These drawdown rules are applicable across all the account options. FX2 Funding offers flexible account options to accommodate diverse traders. 

The Starter and Intermediate challenges, with account sizes of $10,000 and $25,000, respectively, are well-suited for beginner traders still developing a well-defined trading strategy. FX2 Funding's 10% profit target means you would need to earn $1,000 and $2,500 for each of these account options to pass the evaluation. The Professional challenge account option is ideal for intermediate traders with adequate confidence regarding their trading and risk management strategy. It has an account size of $50,000 and requires a $5,000 (10%) profit target to qualify for funding. Experienced or more advanced traders can go for either the Expert or Master challenge accounts with sizes of $100,000 and $200,000, respectively, and profit targets of $10,000 and $20,000 each. 

For each challenge account, your objective is to hit the 10% profit target on the account balance while avoiding the 6% maximum drawdown on the account and 4% loss on a given day. You get funded once you lock in the profit; it is that simple. On qualification, FX2 Funding also offers an excellent and straightforward scaling plan. To scale up your earnings, make a 10% profit locked in on the account balance and withdraw your percentage of the profit split; your original account will be increased by 10%. While you may consider the 10% scaling option low compared to other prop firms, you must understand that FX2 Funding offers real or live funding accounts. Keep in mind that if your account remains inactive for 30 days, it will also be terminated unless you provide the firm with advance notice and a valid reason.

FX2 Funding offers efficient customer support across multiple channels, including phone, WhatsApp, live chat and email. The live chat and WhatsApp facilitate real-time responses and immediate assistance from the support team, albeit with a slight delay. You can speak directly with a customer service representative via phone for a faster response. And for less urgent inquiries or complaints requiring detailed explanations, you can email the support team.

FX2 Funding's website incorporates a FAQ section addressing common questions and concerns. This means you can quickly access information without contacting customer support. 

You can leverage the numerous articles on the company's blog to educate yourself on trading, strategies and psychology. The blog contains excellent "how to" content on requisite topics. FX2 Funding maintains an active presence on social networking platforms, including Facebook, Twitter, Instagram, YouTube, TikTok and Discord. These channels provide an additional means of connecting and engaging with the team and asking questions accordingly. FX2 Funding has an impressive Trustpilot rating of 4.3/5 from 63 reviewers, reflecting its excellent customer support and service offering. Clients highly praise the platform's simple one-step evaluation model and its efficient and professional response to complaints.

FX2 Funding leverages industry-leading best practices, including robust encryption protocols to safeguard user data. Like most online services, the firm may use part of your personal information collected during registration for personalized service delivery and marketing. However, such information is stored in a well-secured online environment and protected from unauthorized access or malicious cyber actors. The company doesn't share or sell users' data to any third party. Users have the right to all information rectification, restriction, erasure, transferability of data, objection and revocation and can request such by contacting the company.

FX2 Funding offers affordable, transparent and discount fees across its various accounting options, enabling traders to save between 30% to 50% on pricing. In fact, it’s one the cheapest on the market. These fees range from $95 (24% savings) and $190 (40% savings) one-time fee for the Starter and Intermediate accounts to $285 (43% savings) and $475 (47% savings) for the Professional and Expert challenge accounts. The Master's account is currently $925 (49% savings). Compared to most other prop firms, especially those that charge monthly fees, FX2 Funding provides excellent pricing for the value of its services. These include an impressive leverage of 1:100 on forex pairs, 1:5 on indices and 1:2 on crypto fairs.

The best part is that these fees are refundable. Upon completing the evaluation and submitting your initial payout request, FX2 will refund your evaluation fee by including the amount in your payout. Remember that you're eligible for your first payout only 7 days after getting funded and 14 days subsequently. Once you qualify for funding, you'll receive instructions on creating or setting up an account with Deel.com, FX2's payment processing partners. Through its partnership with Deel, FX2 is able to provide payout via multiple options, including PayPal, Revolut, Bank Transfer, Wise, Payoneer, Coinbase and Binance, which makes for flexibility. 

FX2 Funding offers a straightforward single-phase evaluation model that appeals to diverse traders. Traders can choose between the highly advanced MT5 trading platform or the easy-to-use MT4 for trade execution, further enhancing the user experience. Its intuitive interface and well-organized dashboard ensure easy navigation and efficient evaluation. You can seamlessly showcase your trading skills or capabilities, qualify for a live account and access professional support when needed. The firm offers excellent educational resources and risk management guidelines via its blogs. Setting up your account is easy: just click "Get funded" or "Funding Programs" in the "How Funding Works" dropdown menu. 

This takes you to the page with different challenge account sizes. Choose the one that matches your experience level and follow three simple steps to fill in your details and pay the relevant account fees. Once completed, you'll receive your login credentials for the MetaTrader platform (MT4 or MT5) based on your chosen preferences during the account setup process. You can then trade at your own pace using your preferred strategy, whether news, copy trading or uses of EAs. Overall, FX2 Funding's user-centric approach enhances the accessibility and usability of its funding services for various undercapitalized traders and intermediate traders seeking more robust capital. Benzinga considers FX2 highly recommendable.

FX2 Funding vs. Competitors

FX2 Funding has a few competitors, including Funded Traders and MyForexFunds. Each platform streamlines fund accessibility for undercapitalized traders, enabling them to trade the forex market and other instruments. However, unlike these platforms, FX2 Funding offers a simple one-phase evaluation to qualify for funding and requires no minimum trading days. Furthermore, FX2 allows weekend holding. The Funded Traders and MyForexFunds allow weekend holding only for specific accounts. FX2's most significant competitive advantage remains its offering of a live or real funded account on qualification.

Despite being relatively new, FX2 Funding has become a favorite choice for many prop traders because of its simplified single-stage evaluation and offering of real or live accounts on qualification, enabling traders to access and grow their forex trading potential. The account setup process is straightforward, with various challenge account sizes catering to different experience levels. Traders can choose between MT4 or MT5, and its intuitive dashboard simplifies navigation. FX2 Funding's profit-sharing model is very competitive, and the payout is fast with account fee reimbursement. In addition, the platform provides efficient customer support across multiple channels. However, it offers low maximum funding, and since it is relatively new, it might be too soon to judge its reliability and competitiveness.

Frequently Asked Questions