Fortunes Funding Review for 2024
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Last Updated: February 11, 2023
Fortunes Funding Review
Cost:
From $109 to $949
Current Deals:
Promo Code: JHXRM1KO8S for 5% OFF
Instruments:
Forex, Commodities, Indices and Metals that end with a ".r"
Evaluations:
2-stage evaluation
Profit Share:
80%
Days to Funding:
No minimum trading days
Leverage:
1:100 Maximum
Platforms:
MT5
Highlights:
No minimum trading days, unlimited retries, EA's and weekend holding allowed
Fortunes Funding is a firm that specializes in evaluating and funding experienced traders. The company has established a two-phase evaluation process to determine the potential of traders. Those who complete the evaluation are offered the opportunity to join Fortunes Funding's proprietary trading firm, where they can operate remotely and manage funds to grow their accounts continuously. As a trader with the firm, individuals are entitled to retain 80% of the profits they generate, while the company takes responsibility for covering any losses that may occur.
What sets Fortunes Funding trader funding program apart from its competitors are the following:
- Funded traders can trade up to $500K in Fortune Funding's capital
- There are no minimum trading days required to pass the evaluation stages
- Funded traders receive 80% of their earnings every two weeks
- There is no limit on how many times you can retry your challenge if you fail them
- If you meet conditions of Fortune Funding's Scaling Plan, you can get changed into a 90/10 profit sharing plan
- Evaluation accounts start at only $109 (refundable fee)
Fortune Funding Pricing
One thing that was attractive to us when reviewing the Fortunes Funding program was their pricing and the value you get with evaluation accounts. In addition, their rules are reasonable and accommodating. For example, evaluation programs start at $109 for a $10K account and top out at $949 for a $200K account.
Here are the evaluation account pricing breakdowns below for Step 1 Evaluation:
| Account Size | $10K | $25K | $50K | $100K | $200K |
|---|---|---|---|---|---|
| Trading Period | 40 days | 40 days | 40 days | 40 days | 40 days |
| Minimum Trading Days | 0 days | 0 days | 0 days | 0 days | 0 days |
| Trading Leverage | 1:100 Max | 1:100 Max | 1:100 Max | 1:100 Max | 1:100 Max |
| Max Daily Loss | 5% | 5% | 5% | 5% | 5% |
| Max Overall Loss | 10% | 10% | 10% | 10% | 10% |
| Profit Target | 9% | 9% | 9% | 9% | 9% |
| Refundable Fee | $109 | $179 | $329 | $479 | $949 |
Step 2 evaluations are included in the price of the initial payment. There are no minimum trading days, so once you hit your Step 1 target, you are automatically moved into Step 2. Rules are the same for all accounts; the only differences are the cost and how much money you are working with.
Step 2 evaluation rules are the same, as mentioned above, but here is a quick overview of them:
- 80 days trading period: profit target must be met within 80 days without committing any drawdown violations
- There are no minimum trading days, so if you pass it in one day, you do not need to wait any longer.
- Trading leverage stays at 1:100
- Maximum daily loss is 5% of the daily starting balance or equity. The one thing to note here is that Fortunes Funding includes all floating losses and profits in their drawdown calculations.
- Max overall loss is 10%, which means that your overall balance cannot drop 90% of the starting balance below.
- The profit target for Step 2 is 4.5%
Fortunes Funding Payout System
At Fortunes Funding, the prop firm has a great payout system. The standard payout ratio for all traders is 80:20, but that's not where they stop. If you qualify for the Scaling Plan, your Fortunes Funding Account balance will be boosted by 25%, and the payout ratio will be boosted to a whopping 90:10. This means you can withdraw your profits every 14 days.
All traders can request a payout 21 days after receiving funding. Fortunes Funding understands that getting paid is important, so they claim to process payouts within 48 hours to ensure that you receive your funds as soon as possible. If all of that is true, then this company is going to make some serious noise in the prop trading industry.
How to get funded with Fortunes Funding
Getting funded with Fortunes Funding is a multi-step process. First, traders must meet the criteria set by Fortunes Funding, including minimum account requirements, risk management protocols, and trading performance metrics. Traders must also complete the application process and provide the required documentation and information to be considered for Funding.
Allowed and Prohibited Trading
Trading Style Restrictions
According to Fortunes Funding, there are no restrictions on the trading style chosen by traders during the demo evaluation phase. However, certain strategies are prohibited as they are deemed "cheating" and go against the company's terms of use policy. Therefore, any trader who takes advantage of the demo environment and uses such strategies will result in the closure of their account, regardless of the stage of their account.
Some commonly prohibited strategies include Martingale, hedging between accounts, tick scalping, signal trading, reverse arbitrage, guaranteed limit orders, data feed manipulation, trading on delayed charts, grid trading, macroeconomic trading during high-impact reports, latency arbitrage, and high-frequency trading. However, it's important to note that the list is not limited to these strategies, and other prohibited strategies may exist.
Copy Trading
Fortunes Funding permits traders to use their Fortunes Funding account as a master account, allowing them to copy trades into their personal or prop firm trading accounts. However, they cannot copy trades to other people's accounts, and the owner of the Fortunes Funding account must place trades from external accounts. Using copy trading services or account management is considered a violation and will result in account closure.
Swing, Hedge, Scalp, EA Trading
It is noted that Fortunes Funding permits its traders to engage in swing trading. However, it should be kept in mind that fluctuations during weekends can result in gaps, causing unexpected stop-outs of positions. They also allow hedge and scalp trading as well.
EA Trading is allowed to an extent. You are allowed to use a trading or EA as long as you do not breach/violate their policies and rules (changing your trading or investor passwords).
The following types of EA's are not allowed:
- Latency arbitrage
- Reverse arbitrage
- Signal trading via copy trader
- Account management via copy trader belonging to a 3rd party
- Tick scalping
- Hedge arbitrage
- High-frequency
- Data feed manipulation
- Emulators
Macroeconomic News Trading
The company allows news trading during both phases of its challenges. Still, it imposes restrictions on news trading for 2 minutes before and after releasing a red folder event for Funded Accounts connected to live capital. This restriction applies to FX, Metals, and Indices instruments and includes opening/closing of market orders and triggered take profits or stop losses within the 4-minute window.
Traders will receive a maximum of two warnings for violations, resulting in deductions of profits from trades executed within the restricted window. A third violation will result in account termination. Deductions will be processed the following business day, and traders are responsible if they breach daily or maximum loss limits.
The restriction table lists instruments and macroeconomic events prohibited during news events. The table includes currency instruments such as USD, GBP, EUR, CAD, AUD, CHF, NZD, and JPY. In addition, red folder events shown in Forex Factory, including those not listed in the table, are also considered news-restricted events.
Trading news is still allowed on challenge accounts. Still, traders should understand that there may be slippages and are responsible for any losses resulting from violations of max drawdown rules. In addition, the company cannot guarantee profits generated during high-risk news events, and traders are advised to avoid trading specific instruments during high-impact news releases. Nevertheless, traders are expected to trade with reasonable lot sizes as if trading their live accounts.
What makes Fortunes Funding different from any other prop firm?
Fortunes Funding is unique because it provides traders access to capital from a community of professional investors rather than a traditional prop firm. As a result, traders can access a wider range of capital sources and receive more favorable terms and conditions. Additionally, traders in the Fortunes Funding program are part of a supportive community of traders and investors committed to helping traders succeed.
What Others Are Saying About Fortunes Funding
Fortunes Funding, a new company on the block, has received mixed reviews on Trustpilot. While some traders have given it high ratings and praised the support team for its quick response time and professionalism, others have expressed disappointment with the company's policies and customer service.
One trader, who gave the company a 1-star rating, expressed disappointment with the changes in the rules for challenges offered by the company and felt the customer service was not up to par. Another trader had a similar experience and was frustrated with the lack of resolution for a breached free account issue.
On the other hand, several traders were impressed with the company's vision and mission to provide the best opportunities for traders. The support team was also praised for its quick and efficient handling of queries. One trader even called it the "best support team I've ever seen."
Several traders also praised James Storm, the founder of Fortunes Funding, for his inspiring podcasts and contributions to the company.
Overall, while the reviews are mixed, most traders who have had a positive experience with Fortunes Funding seem pleased with the support they received and the company's vision.
Fortunes Funding Final Verdict
In conclusion, Fortunes Funding is a unique and exciting opportunity for traders seeking access to capital and support from a community of professional investors. While stringent requirements and risks are involved, traders who can meet the criteria and demonstrate a consistent and successful trading track record likely find that getting funded with Fortunes Funding is a realistic and valuable opportunity. However, traders should always do their due diligence and carefully consider the risks and benefits before applying for Funding with any platform.
Fortunes Funding provides a wealth of resources and support to help traders succeed, including access to capital, a supportive community, and trading resources. This, combined with their commitment to supporting the next generation of successful traders, makes Fortunes Funding an exciting opportunity for traders looking to grow their accounts and reach their full potential.
Fortunes Funding is worth considering if you're a trader looking for an opportunity to access capital and grow your trading account. With its comprehensive funding process, supportive community, and commitment to helping traders succeed, Fortunes Funding is poised to become one of the leading funding platforms for traders.
See more of The Best Funded Trader Programs for 2023
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