Introduction: Bespoke Funding Review
Hey everyone! I'm thrilled to have you here today. In this brand new review, we're delving into Bespoke Funding, one of the latest additions to our list of featured prop trading firms.
Remarkably, Bespoke Funding is experiencing rapid growth, swiftly becoming a favored choice among traders globally in the competitive world of proprietary trading. The industry, as a whole, is attracting a wave of traders seeking substantial capital to amplify their profits.
Given this surge in options, finding the ideal proprietary trading firm tailored to your needs can be daunting. But fret not! That's precisely why we're here. Our mission is to meticulously research and review the best firms in the industry. We aim to empower you by providing valuable insights, guiding you toward a trading firm that aligns with your unique style and preferences.
So, without further ado, let's dive into this review and explore whether Bespoke Funding is the trading firm you'll want to join in the future.
Company Background: Bespoke Funding's Beginnings
Bespoke Funding is a relatively well-established prop trading firm, having been incorporated in September 2022. While they might still be considered newcomers in the field, they are making remarkable strides in establishing themselves. Their headquarters are situated in London, UK, and they offer traders the choice between two distinctive funding programs, namely, the "Classic Challenge" and "Traders Choice". Let's explore these funding options in more detail.
Classic Challenge Details
Let's delve into the details of Bespoke Funding's Classic Challenge program, designed to recognize dedicated and skilled traders rewarded for their consistency during a two-phase evaluation.
Classic Challenge
| Capital | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 | $300,000 | $400,000 |
|---|---|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% |
| Profit Split | Up to 80% | Up to 80% | Up to 80% | Up to 80% | Up to 80% | Up to 80% | Up to 80% |
| Weekend Holding | Allowed | Allowed | Allowed | Allowed | Allowed | Allowed | Allowed |
| Minimum Trading Days | 3 days | 3 days | 3 days | 3 days | 3 days | 3 days | 3 days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 5% | 5% | 5% | 5% | 5% | 5% | 5% |
| Max Drawdown | 10% | 10% | 10% | 10% | 10% | 10% | 10% |
| Leverage | 1:60 | 1:60 | 1:60 | 1:60 | 1:60 | 1:60 | 1:60 |
| Refundable Fee | 129$ | 239$ | 329$ | 529$ | 949$ | 1409$ | 1879$ |
Phase 1: Traders must achieve a profit target of 8% without exceeding the 5% maximum daily loss or 10% overall maximum loss rules. There's no specific time limit for Phase 1 completion, but a minimum of 3 trading days is required to progress.
Phase 2: Traders need to reach a profit target of 5% while adhering to the same maximum loss rules. Similar to Phase 1, there's no limit on trading days, but a minimum of 3 days is mandatory to move forward to the funded account phase.
Upon being funded, traders must continue to respect the 5% daily loss and 10% overall maximum loss rules. The first payout is scheduled 30 calendar days after placing the first position on the funded account, with subsequent withdrawals allowed on a bi-weekly basis.
Profit Split: Traders receive an 80% split based on the profit made on their funded account, an arrangement widely appreciated in the trading community.
Scaling Plan: Traders are eligible for a 40% increase in the account balance if they achieve a payout of 8% or more within a four-month period, with a requirement of profitability in 75% of these months.
Trading Instruments: The Classic Challenge accounts cover a diverse range of assets including forex pairs, commodities, indices, and cryptocurrencies.
Traders Choice Challenge Details
Let's turn our attention to the Traders Choice account offered by Bespoke Funding, which shares a similar goal of identifying and rewarding serious and skilled traders for their consistency.
Traders Choice
| Capital | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 | $300,000 | $400,000 |
|---|---|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% |
| Profit Split | Up to 80% | Up to 80% | Up to 80% | Up to 80% | Up to 80% | Up to 80% | Up to 80% |
| Weekend Holding | Allowed | Allowed | Allowed | Allowed | Allowed | Allowed | Allowed |
| Minimum Trading Days | 0 days | 0 days | 0 days | 0 days | 0 days | 0 days | 0 days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 5% | 5% | 5% | 5% | 5% | 5% | 5% |
| Max Drawdown | 8% | 8% | 8% | 8% | 8% | 8% | 8% |
| Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
| Refundable Fee | 99$ | 195$ | 304$ | 499$ | 919$ | 1369$ | 1849$ |
It's worth noting that the Traders Choice account provides a higher leverage ratio of 1:100, while the Classic Challenge offers a leverage of 1:60.
Phase 1: In this phase, traders must attain a profit target of 8%, with the restriction that they cannot exceed the 5% maximum daily loss or 8% overall maximum loss rules. No specific requirements exist for the minimum or maximum number of trading days during this phase.
Transition to Phase 2: Progressing to Phase 2 is relatively straightforward; traders merely need to reach the 8% profit target without breaching any loss limits, providing a flexible and trader-friendly approach.
Phase 2: In this stage, traders must achieve a profit target of 5%, ensuring they do not surpass the 5% daily loss or 8% overall maximum loss limits on their account. Again, there are no time limitations or minimum/maximum trading day requirements.
Upon successfully completing both phases of the Traders Choice Challenge, traders receive a funded account with no specific profit targets. They are, however, required to adhere to the maximum daily and overall loss rules of 5% and 10%, respectively.
The first payout is scheduled 30 calendar days after commencing trading on the funded account, and subsequent withdrawals are permitted on a bi-weekly basis. Just like the Classic Challenge, the Traders Choice account offers an 80% profit split on earned profits.
Scaling Plan: As with the Classic Challenge, traders are eligible for a 40% increase in the account balance if they achieve a payout of 8% or more within a four-month period, with profitability required in 75% of these months.
Trading Instruments: The trading instruments for the Traders Choice account mirror those of the Classic Challenge, covering forex pairs, commodities, indices, and cryptocurrencies.
Bespoke Funding's Rules and Features
When considering any of Bespoke Funding's challenge accounts, it's vital to maintain a strong awareness of and adherence to the fundamental rules, including:
- Profit Targets: These are crucial in both stages of the challenge.
- Maximum Daily and Maximum Overall Loss Limits: To safeguard your capital.
- Trading Day Requirements: Be mindful of any minimum or maximum restrictions.
- Lot Size Limits: Ensure your trades comply with these limits.
- No Martingale Strategies: These are not permitted.
- Third-Party Copy Trading Risk and Third-Party EA Risk: These factors require deeper consideration.
Working with Bespoke Funding also comes with several advantageous features:
- Balance-Based Drawdown: This feature, which differs from the industry standard equity-based drawdown, is particularly favorable for profitable and swing traders.
- Auto Close Feature: When you successfully hit your profit targets during the evaluation period, an automatic trade closure occurs. This is especially useful for traders moving on to Phase Two or a funded account.
- Instant Challenge Credentials: This applies to all funding programs and challenge phases, streamlining the process.
- Swift Processing: Payouts and account resets are both handled within 24 hours, allowing you to resume trading promptly.
With these remarkable features, Bespoke Funding offers traders an array of benefits for their trading endeavors.
Key Features: What Sets Bespoke Funding Apart?
What sets Bespoke Funding apart from other prop firms? According to their own mission, they are traders with a genuine passion for discovering hidden talent within the trading community.
Their aim is to create distinctive funding opportunities, providing a user-friendly path for individuals to become professional funded traders who can manage capital from anywhere around the globe. To achieve this, they have developed a trader-centric experience, offering essential information and leveraging industry-leading technology to provide traders with access to tier-one liquidity.
Notably, Bespoke Funding aspires to ascend to the pinnacle of the prop trading world, a vision that's quite inspiring. Their commitment to this goal is evident in their impressive range of trading features, including the two funding programs we discussed, the Classic Challenge and Traders Choice.
One of their strengths lies in their non-restrictive approach to trading styles, allowing traders to participate in news trading, hold positions overnight, and even trade during weekends.
In summary, Bespoke Funding distinguishes itself by incorporating some of the key features that have made other prop firms successful in the industry, while also charting its own unique path in the world of proprietary trading.
Payment Proof and Community Validation
Now, let's address the question of capital acquisition. Is it a realistic endeavor? It's a crucial consideration, as tempting as an 80% or more profit split on substantial capital may sound.
High-profit splits can be enticing, but if the trading requirements demand exceptionally high monthly gains and minimal drawdowns, your chances of success might be less than ideal. However, when it comes to receiving capital through the challenge accounts at Bespoke Funding, the prospects are very realistic. This is primarily because all their targets align with industry averages, and they don't place strict restrictions on your trading style.
In summary, Bespoke Funding offers a more achievable path to securing capital, making it a favorable option for traders.
Payment proof is a crucial aspect for traders, and Bespoke Funding's approach is noteworthy. Traders can initiate their first withdrawal after a 30-calendar-day period on both the Classic Challenge and Traders Choice accounts. Subsequently, withdrawals are processed on a bi-weekly basis, ensuring a regular flow of funds.
For additional reassurance, you can find numerous examples of payout proof on their Discord channel. In fact, I strongly encourage anyone considering a prop trading firm to explore their Discord community. It provides valuable insights and offers a wealth of evidence regarding the legitimacy and effectiveness of Bespoke Funding, including their payment proof.
Broker and Trading Platform Integration
When it comes to the broker, Bespoke Funding has established a strong partnership with Eightcap, a highly reputable brokerage based in Australia, which also happens to be my homeland. This integration is seamless and offers a range of advantages.
As for trading platforms, Bespoke Funding provides access to MT4 and MT5, two widely used and trusted platforms in the industry. Traders have the flexibility to engage in forex pairs, commodities, indices, and cryptocurrencies. The choice of leverage ranges from 1:10 to 1:100, depending on the specific funding program you are participating in.
Educational Resources and Support
When it comes to education and support for traders, Bespoke Funding is well-equipped with a wealth of resources available on their website. You can find valuable content, including a blog where you can explore a wide array of topics. This includes general information related to planning and strategizing, fundamental analysis, risk management, and the vital realm of trading psychology.
Their commitment to educating and informing their traders stands out as a significant advantage, making Bespoke Funding a noteworthy choice in the world of prop trading.
Trustpilot Reviews: User Feedback on Bespoke Funding
Checking Bespoke Funding's Trustpilot reviews reveals an outstanding rating of 4.7 out of a substantial number of reviews, considering their relatively new presence in the industry. The feedback is overwhelmingly positive, with numerous five-star ratings.
While it's essential to explore both positive and negative reviews, it's heartening to see some consistent highlights. Traders commend Bespoke Funding for their fast response times, exceptional trading rules (which we discussed earlier), and stellar support. These are critical factors when assessing a prop trading firm.
In summary, examining the full spectrum of reviews is worthwhile, but the overall sentiment is decidedly favorable for Bespoke Funding.
Final Verdict: Why Choose Bespoke Funding?
In conclusion, Bespoke Funding stands as a legitimate and ambitious prop trading firm with a clear vision to rank among the industry's finest.
Their exceptional trading rules and robust support for traders make them a compelling choice. Without a doubt, I would highly recommend Bespoke Funding to anyone seeking a prop trading firm with transparent and trader-friendly rules.
Considering their comprehensive offering, Bespoke Funding emerges as one of the standout prop firms, with significant potential to ascend to the ranks of industry-leading prop trading firms.