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FUNDINGU- Free Program FAq

  • Why FundingU?
    FundingU is the first ever non-profit prop firm. Our goal is to provide all traders the ability to get funded at the lowest prices in the industrry, while simultaneously building an organization with the focus of traders funding traders. As a non-profit we sell competive challenge evalution accounts to help flourish the growth and volume of our free program. We also take 30% profit splits to push our model of traders contioulsy giving back to funding other traders. Through FundingU, not only will you be working with the first non-profit proprietary firm, but you will be working with a community of traders willing to give back to helping other traders on their journey to financial freedom.
  • Why FundingU?
    FundingU is the first ever non-profit prop firm. Our goal is to provide all traders the ability to get funded at the lowest prices in the industrry, while simultaneously building an organization with the focus of traders funding traders. As a non-profit we sell competive challenge evalution accounts to help flourish the growth and volume of our free program. We also take 30% profit splits to push our model of traders contioulsy giving back to funding other traders. Through FundingU, not only will you be working with the first non-profit proprietary firm, but you will be working with a community of traders willing to give back to helping other traders on their journey to financial freedom.
  • Why do you offer both Paid and Free Programs?
    The Paid Challenege Program is geared toward successful traders looking for favorable funding soltuions with low prcies and flexible trading rules. When traders purchase a challenge with FundingU all proceeds go to funding more traders. The more traders we fund through our programs, the more we are able to help future traders! The Free Program is for traders who typically can not afford funding challenges or have yet to develop the consistency to do so. Instead of wasting money on high evalution fees or even purchasing an evaltuion from us, we recomend that these specific traders apply for the free challenge program.
  • Why do you offer both Paid and Free Programs?
    The Paid Challenege Program is geared toward successful traders looking for favorable funding soltuions with low prcies and flexible trading rules. When traders purchase a challenge with FundingU all proceeds go to funding more traders. The more traders we fund through our programs, the more we are able to help future traders! The Free Program is for traders who typically can not afford funding challenges or have yet to develop the consistency to do so. Instead of wasting money on high evalution fees or even purchasing an evaltuion from us, we recomend that these specific traders apply for the free challenge program.
  • Donations
    As a non-profit we do accept donations from indviduals or other organizations. However, purchasing a challenege and being a successful trader is more then enough. Whether it is through our paid or free program, what really helps our organization grow is proftiable traders. The revenue we generate through challenge sales and our 30% profit split will allow us to fund more traders for free in parrallel to our firms growth.
  • Donations
    As a non-profit we do accept donations from indviduals or other organizations. However, purchasing a challenege and being a successful trader is more then enough. Whether it is through our paid or free program, what really helps our organization grow is proftiable traders. The revenue we generate through challenge sales and our 30% profit split will allow us to fund more traders for free in parrallel to our firms growth.
  • How does the Funding U Challenge work?
    The Funding U Challenge is a trading evaluation program to test a trader’s consistency before attempting a Prop Trading Challenge. The Funding U Challenge takes place on a demo account with no live capital. Upon completing the Funding U Challenge you will move on to the Prop Firm Challenge.
  • What are the full details of the Funding U Challenge?
    Account Size: $10,000 Profit Target: $1,000 Maximum Loss: $1,000 Maximum Daily Loss: $500
  • How do I pass the Funding U Challenge?
    A trader passes the challenge by reaching the profit target within the 30 day trading period.
  • Are there any other rules?
    You must trade the Funding U Challenge account for a minimum of 10 trading days. Maximum Loss and Maximum Daily Loss parameters must be followed in order to move on to the Prop Firm Challenge.
  • How do I fail the Funding U Challenge?
    1. If you surpass either of the Maximum Loss or Maximum Daily Loss objectives. 2. If the account balance is negative after the 30 day trading period (below $10,000). 3. If you do not trade the minimum 10 trading days.
  • Can I restart my Funding U Challenge?
    At the moment there is no cost for the Funding U Challenge. Our goal is to give as many traders an oppportunity and restarts will soley depend on the volume of traders requesting our services. Please reach out to support for more information.
  • What is the cost?
    The Funding U Challenge is FREE for a $10,000 account. Upon successful completion of the Funding U challenge we will pay for your Prop Firm challenge with My Forex Funds to start.
  • What platform do we offer trading on?
    We offer trading on MT4 only.
  • Trading Hours
    Trades can be placed at anytime of the day. Overnight and over the weekend positions are allowed.
  • Trading Hours
    Trades can be placed at anytime of the day. Overnight and over the weekend positions are allowed.
  • Trading Period
    -Stage one lasts for thirty days, stage two sixty days. -You can complete the total evaluation in a minimum of 30 days so far as all other requirements are met -Stage one has a minimum days requirement of 10 -Stage two has a minimum days requirement of 20
  • Trading Period
    -Stage one lasts for thirty days, stage two sixty days. -You can complete the total evaluation in a minimum of 30 days so far as all other requirements are met -Stage one has a minimum days requirement of 10 -Stage two has a minimum days requirement of 20
  • Trading Products
    All Major and Minor Forex pairs, Crypto Currencies, Indices and Gold
  • Trading Products
    All Major and Minor Forex pairs, Crypto Currencies, Indices and Gold
  • Prohibited Strategies
    Hedging and Martingale trading are the only prohibited strategies. Martingale to us is defined as opening a position while first position opened is in drawdown, and following positions added in the same direction and same symbol are opened in multipliers of first position size. E.g. For a 1 lot sell position, a multiplier in this case starts from 1.01, so 1 and below is not classified as martingale
  • Prohibited Strategies
    Hedging and Martingale trading are the only prohibited strategies. Martingale to us is defined as opening a position while first position opened is in drawdown, and following positions added in the same direction and same symbol are opened in multipliers of first position size. E.g. For a 1 lot sell position, a multiplier in this case starts from 1.01, so 1 and below is not classified as martingale
  • Can I request a refund?
    The one time fee is reimbursed to you with your first profit split when you become a FundingU Funded Trader.
  • Can I request a refund?
    The one time fee is reimbursed to you with your first profit split when you become a FundingU Funded Trader.
  • Profit target and Drawdown Limit
    Profit target of eight percent to complete the evaluation for stage one and four percent for stage two. Maximum drawdown of ten percent (This means, the equity of the trading account must not, at any moment during both stages duration, reach a loss of -10%.)
  • Profit target and Drawdown Limit
    Profit target of eight percent to complete the evaluation for stage one and four percent for stage two. Maximum drawdown of ten percent (This means, the equity of the trading account must not, at any moment during both stages duration, reach a loss of -10%.)
  • Daily loss limit
    This ruleis set as 5% from the initial account balance. The rule says that in any moment of the day (CE(S)T – Central European Summer Time), the result of all closed positions in sum with the currently open floating P/Ls (profits/losses) must not exceed or hit the determined daily loss limit. The counting formula: Current daily loss = results of closed positions of this day + result of open positions.
  • Daily loss limit
    This ruleis set as 5% from the initial account balance. The rule says that in any moment of the day (CE(S)T – Central European Summer Time), the result of all closed positions in sum with the currently open floating P/Ls (profits/losses) must not exceed or hit the determined daily loss limit. The counting formula: Current daily loss = results of closed positions of this day + result of open positions.
  • Lot Size Limit
    All traders are limited to 20 lots on the $100,000 plan, 10 lots on the $50,000 plan, 5 lots on the $25,000 plan.
  • Lot Size Limit
    All traders are limited to 20 lots on the $100,000 plan, 10 lots on the $50,000 plan, 5 lots on the $25,000 plan.
  • Account Leverage Type and Platform
    Raw spreads account with leverage of 1:100 on industry-standard MT5.
  • Account Leverage Type and Platform
    Raw spreads account with leverage of 1:100 on industry-standard MT5.
  • Expert Advisors and Trade Copiers
    EA's and Trade Copiers are allowed. Ea's must not be martingale. Ea's are allowed to use virtual/hidden stop losses.
  • Expert Advisors and Trade Copiers
    EA's and Trade Copiers are allowed. Ea's must not be martingale. Ea's are allowed to use virtual/hidden stop losses.
  • Commission explained
    1. Major and Minor Forex pairs - $7 per lot 2. Metals - $7 per lot 3. Crypto - 0.5% 4. Indices - 0.0004% 5. Stocks - 0.2%
  • Commission explained
    1. Major and Minor Forex pairs - $7 per lot 2. Metals - $7 per lot 3. Crypto - 0.5% 4. Indices - 0.0004% 5. Stocks - 0.2%
  • Losing your funded account
    After becoming live funded, there will be risk reviews at -5% drawdown point on all of the accounts at which point the account will be reviewed by the risk team and they will make a decision on whether to let the trader continue to trade or pull the live funed account.
  • Losing your funded account
    After becoming live funded, there will be risk reviews at -5% drawdown point on all of the accounts at which point the account will be reviewed by the risk team and they will make a decision on whether to let the trader continue to trade or pull the live funed account.
  • Important Notice
    Within the evaluation stage, the risk team encourages consistent trading each day that you trade with proper risk management in order to propely evaluate a you. In some cases the evaluation period may be extended by the risk team in order to get promotion to the second stage or live funds. If however you do pass the evaluation, but your trading strategy doesn't align with our risk appetite,you will be refunded.
  • Important Notice
    Within the evaluation stage, the risk team encourages consistent trading each day that you trade with proper risk management in order to propely evaluate a you. In some cases the evaluation period may be extended by the risk team in order to get promotion to the second stage or live funds. If however you do pass the evaluation, but your trading strategy doesn't align with our risk appetite,you will be refunded.
  • How does the Prop Firm Challenge work?
    The Prop Firm Challenge is fairly identical to the Funding U Challenge with an additional verification stage that most prop firms require.
  • Why do we start our traders with a My Forex Funds prop firm account?
    They are a reliable firm that offers a $10,000 account at a favorable price. The risk parameters are more suitable for traders begininning their funding process.
  • What are the full details of the Prop Firm Challenge?
    Challenge My Forex Funds Account Size: $10,000 Profit Target: $800 Maximum Loss: $1,200 Maximum Daily Loss: $500 Trading Days: 30 Verification My Forex Funds Account Size: $10,000 Profit Target: $500 Maximum Loss: $1,200 Maximum Daily Loss: $500 Trading Days: 60
  • How do I pass?
    A trader passes the challenge by reaching the profit target within the 30 day trading period. Verification can be traded for up to 60 days and the account is funded immediately after passing.
  • Are there any other rules?
    You must trade the Prop Firm Challenge account for a minimum of 10 trading days. Maximum Loss and Maximum Daily Loss parameters must be followed for both evaluations. As soon as verification is passed your account will be funded and ready to profit split on earnings.
  • What platform do we offer trading on?
    We offer trading on MT4 only.
  • How does the profit split work?
    Each month My Forex Funds will take a 15% profit split up front. We take no profit split, the trader is left with an 85% profit split for themselevs. Rules vary depending on the prop firm we are wokring with. However, all traders start with My Forex Funds.
  • Stage One
    Only traders with a $50K /$100k trading book are eligible for capital growth. Profit withdrawals are independent from the growth targets of 10%.
  • Stage One
    Only traders with a $50K /$100k trading book are eligible for capital growth. Profit withdrawals are independent from the growth targets of 10%.
  • Stage Two
    If you can make a 10% return on your $50K trading book – growing your account to $55k, we will top up your initial funding to $100k. If you can make a 10% return on your $100K trading book – growing your account to $110 we will top up your funding to $200k.
  • Stage Two
    If you can make a 10% return on your $50K trading book – growing your account to $55k, we will top up your initial funding to $100k. If you can make a 10% return on your $100K trading book – growing your account to $110 we will top up your funding to $200k.
  • Stage Three
    If you can make a 10% return on your $200K trading book – growing your account to $220k we will top up your funding to $400k
  • Stage Three
    If you can make a 10% return on your $200K trading book – growing your account to $220k we will top up your funding to $400k
  • Stage Four
    If you can make a 10% return on your $400K trading book – growing your account to $440k we will top up your funding to $1M.
  • Stage Four
    If you can make a 10% return on your $400K trading book – growing your account to $440k we will top up your funding to $1M.
  • Capital Growth on 25,OOO USD Accout"
    Since the 25,000 USD account can not be included in the capital growth program due to adverse risk to the firm we will pay for ANY traders next FundingU Challenege after they have succesfuly recived three profit splits from their live 25K USD account (trader must have made atleast a minimum 500 USD cumatively between all three payouts) before a trader moves on to a 50k or 100k Funding U challenge evalution. This is available to all traders wether they have recived thier 25,000 USD live account through the free program or traders who have only purchased the 25,000 USD account. Although we do not offer scaling on the 25,000USD funded acounts, FundingU belives this is a fair alternative and allows any traders to come to our firm, paid or free, and start on their path toward earning larger Funded accounts for free.
  • Capital Growth on 25,OOO USD Accout"
    Since the 25,000 USD account can not be included in the capital growth program due to adverse risk to the firm we will pay for ANY traders next FundingU Challenege after they have succesfuly recived three profit splits from their live 25K USD account (trader must have made atleast a minimum 500 USD cumatively between all three payouts) before a trader moves on to a 50k or 100k Funding U challenge evalution. This is available to all traders wether they have recived thier 25,000 USD live account through the free program or traders who have only purchased the 25,000 USD account. Although we do not offer scaling on the 25,000USD funded acounts, FundingU belives this is a fair alternative and allows any traders to come to our firm, paid or free, and start on their path toward earning larger Funded accounts for free.
  • What is a Funding U Trader?
    A Funding U Trader is a trader that has passed the entire evaluation process and has been funded through are program. We maintain a relationship with our traders and will increase the funding to our traders as the trading relationship progresses.
  • What is the benefit of being a Funding U Trader?
    Our traders are allowed to trade with Funding U and trade individually with any prop firm. We offer a FREE alternative to funding and encourage traders to become consistent before purchasing additional prop firm accounts on their own.
  • How do I get a larger account with Funding U?
    After establishing yourself as a successful trader, our team will reach out to you to discuss how we will proceed.
  • Who’s name are the accounts in?
    All accounts are purchased by Funding U Limited, but are placed under the traders name. We do not take responsibility for the account nor do we take a profit split.
  • How do payouts work?
    Traders who are funded through the Funding U program will recieve payouts directly from the prop firm My Forex Funds. We are starting traders on $10,000 USD accounts to build trust with our traders before funding them on larger account sizes.
  • How to Withdraw
    All withdrawals are processed through the client portals withdrawl form.
  • How to Withdraw
    All withdrawals are processed through the client portals withdrawl form.
  • Requirement
    Evaluation accounts are run on demo and not eligible for withdrawals. Live accounts accounts needs to be in profit net of commissions and swap to request a withdrawal.
  • Requirement
    Evaluation accounts are run on demo and not eligible for withdrawals. Live accounts accounts needs to be in profit net of commissions and swap to request a withdrawal.
  • Payout Day
    Withdrawals can now be requested on the 14th and 28th of each month for our paid challenge evaluation program and fully funded free program traders.
  • Payout Day
    Withdrawals can now be requested on the 14th and 28th of each month for our paid challenge evaluation program and fully funded free program traders.
  • Policy/Terms
    THESE TERMS AND CONDITIONS ARE MADE IN ENGLISH LANGUAGE. ANY OTHER LANGUAGE TRANSLATION CAN BE PROVIDED AS A CONVENIENCE ONLY. IN THE CASE OF ANY INCONSISTENCY OR DISCREPANCY BETWEEN ORIGINAL ENGLISH TEXTS AND THEIR TRANSLATION INTO ANY OTHER LANGUAGE, AS THE CASE MAY BE, ORIGINAL VERSIONS OF ENGLISH SHALL PREVAIL. 1. IF THE BACKER SUSPECTS THAT A CLIENT HAS ABUSED OR ATTEMPTED TO ABUSE ANY RISK MANAGEMENT RULES OR GUIDELINES, OR OTHERWISE ACTED WITH A LACK OF GOOD FAITH TOWARDS US, THEN THE COMPANY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO DENY, WITHHOLD OR WITHDRAW FROM THAT CLIENT. IF NECESSARY TO CANCEL ANY TERMS AND CONDITIONS WITH RESPECT TO THAT CLIENT, EITHER TEMPORARILY OR PERMANENTLY, OR TERMINATE THAT CLIENT'S ACCESS TO THE SERVICE AND/OR BLOCK THAT CLIENT'S ACCOUNT. 2.PARTICIPATION IN THE TRADERS CENTRAL FUNDING OPTIONS IS NOT ALLOWED FOR PERSONS UNDER THE AGE OF 18 OR OTHERWISE UNDER THE LEGAL AGE IN THEIR COUNTRY OF RESIDENCE ("MINORS"). IF FOUND A CLIENT IS A ("MINOR"), THE WITHDRAWAL REQUEST WILL BE REFUSED AND ACCOUNT WILL BE CANCELED.
  • Policy/Terms
    THESE TERMS AND CONDITIONS ARE MADE IN ENGLISH LANGUAGE. ANY OTHER LANGUAGE TRANSLATION CAN BE PROVIDED AS A CONVENIENCE ONLY. IN THE CASE OF ANY INCONSISTENCY OR DISCREPANCY BETWEEN ORIGINAL ENGLISH TEXTS AND THEIR TRANSLATION INTO ANY OTHER LANGUAGE, AS THE CASE MAY BE, ORIGINAL VERSIONS OF ENGLISH SHALL PREVAIL. 1. IF THE BACKER SUSPECTS THAT A CLIENT HAS ABUSED OR ATTEMPTED TO ABUSE ANY RISK MANAGEMENT RULES OR GUIDELINES, OR OTHERWISE ACTED WITH A LACK OF GOOD FAITH TOWARDS US, THEN THE COMPANY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO DENY, WITHHOLD OR WITHDRAW FROM THAT CLIENT. IF NECESSARY TO CANCEL ANY TERMS AND CONDITIONS WITH RESPECT TO THAT CLIENT, EITHER TEMPORARILY OR PERMANENTLY, OR TERMINATE THAT CLIENT'S ACCESS TO THE SERVICE AND/OR BLOCK THAT CLIENT'S ACCOUNT. 2.PARTICIPATION IN THE TRADERS CENTRAL FUNDING OPTIONS IS NOT ALLOWED FOR PERSONS UNDER THE AGE OF 18 OR OTHERWISE UNDER THE LEGAL AGE IN THEIR COUNTRY OF RESIDENCE ("MINORS"). IF FOUND A CLIENT IS A ("MINOR"), THE WITHDRAWAL REQUEST WILL BE REFUSED AND ACCOUNT WILL BE CANCELED.
  • Crypto Payouts
    A withdrawal through crypto attracts a 1% fee. Cryptos can be highly volatile, all withdrawals sent through will be equivalent to the exchange rate at the time of sending. At the time you receive your crypto withdrawal into your given wallet, the equivalent may have increased or decreased; that is beyond our control of our bakcers.
  • Crypto Payouts
    A withdrawal through crypto attracts a 1% fee. Cryptos can be highly volatile, all withdrawals sent through will be equivalent to the exchange rate at the time of sending. At the time you receive your crypto withdrawal into your given wallet, the equivalent may have increased or decreased; that is beyond our control of our bakcers.
  • Bank Transfer
    Note that if your bank account is denominated in a different currency from USD, your bank would also perform a currency exchange using its own exchange rates. Upon request your bank officials can provide you with further details on the exchange in question - including information on their exchange rates, and any possible additional fees applied by them. Some bank transfers are processed via one or more partner banks, which may result in additional banking fees. Such fees are standard and are beyond our control as in this case we act as the payer and not a payment service provider. We kindly advise you to contact your bank as ask for further information on the fees they apply
  • Bank Transfer
    Note that if your bank account is denominated in a different currency from USD, your bank would also perform a currency exchange using its own exchange rates. Upon request your bank officials can provide you with further details on the exchange in question - including information on their exchange rates, and any possible additional fees applied by them. Some bank transfers are processed via one or more partner banks, which may result in additional banking fees. Such fees are standard and are beyond our control as in this case we act as the payer and not a payment service provider. We kindly advise you to contact your bank as ask for further information on the fees they apply
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