The Rise of Skilled Funded Traders
Skilled Funded Traders has made quite a splash in the Proprietary Trading world within just three months of its launch. This venture is the brainchild of three experienced traders: Omar Agag, Palden Bhutia, and Riz Iqbal. They've achieved substantial success with other Proprietary Trading firms and are leveraging their expertise to establish Skilled Funded Traders as a top choice in the Proprietary Trading arena.
When you sign up for a Skilled Funded Traders challenge, you can enjoy an 8% discount by using the discount code MYFOREXBUDDY.
Standard Challenge Details
Skilled Funded Traders offers two distinct challenge options: Standard and Skilled. Let's begin with the Standard challenge. It comes with an 8% and 5% profit target, and there are no strict time limits, just a requirement of three minimum trading days. These challenges are available with account sizes ranging from $5,000 to $200,000, and the cost depends on the drawdown type you select.
Standard (regular) Challange
| Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% |
| Minimum Trading Days | 3 Days | 3 Days | 3 Days | 3 Days | 3 Days | 3 Days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 5% | 5% | 5% | 5% | 5% | 5% |
| Overall Drawdown | 10% | 10% | 10% | 10% | 10% | 10% |
| Available Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
| Refundable Fee | 79$ | 139$ | 269$ | 349$ | 549$ | 1049$ |
The price for Standard accounts varies, with 8% drawdown accounts ranging from $64 to $839 and 10% drawdown accounts priced from $79 to $1,049. Keep in mind that the actual cost is often lower, as there are usually ongoing discount promotions in effect.
All Standard accounts come with a 5% daily drawdown limit, calculated based on both equity and balance. You have the option to choose between Swing and Regular accounts at the same cost. Swing accounts offer leverage of up to 1:30, can hold positions over the weekend, and are free to trade news at any time.
On the other hand, Regular accounts provide leverage of up to 1:100 but can't keep positions over the weekend, though they can still trade news during the challenge, just not on the funded account. Standard funded accounts offer an 80% profit split, with the first withdrawal permitted after 21 days, followed by withdrawals every 14 days.
Skilled Challenge Details
Now, let's delve into the Skilled challenge. This challenge comes with profit targets of 6% for both phases, and there are no strict time limits, just a requirement of 5 minimum trading days. Skilled accounts are slightly pricier than the standard ones and offer the choice between an 8% and 10% drawdown.
Skilled Challange
| Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% |
| Minimum Trading Days | 5 Days | 5 Days | 5 Days | 5 Days | 5 Days | 5 Days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 4% | 4% | 4% | 4% | 4% | 4% |
| Overall Drawdown | 10% | 10% | 10% | 10% | 10% | 10% |
| Available Leverage | 1:50 | 1:50 | 1:50 | 1:50 | 1:50 | 1:50 |
| Refundable Fee | 85$ | 159$ | 279$ | 389$ | 599$ | 1059$ |
Skilled accounts come with a lower 4% daily drawdown limit, which is calculated based on both equity and balance. Unlike Standard accounts, Skilled accounts allow you to hold positions over the weekend and trade news during the challenge, though news trading is not permitted on the funded account.
These accounts offer leverage of up to 1:50 and provide a higher 85% profit split, with the first withdrawal allowed after just 14 days. Additionally, Skilled accounts come with a 125% evaluation fee refund, as opposed to the 100% refund offered on the Standard account.
Scaling and Broker Information
Scaling up with Skilled Funded Traders follows the same process for both challenges. To scale up, you need to achieve a minimum of 6% profit over a 3-month period, with at least 2 of those 3 months being profitable. Upon successful scaling, your account size increases by 25%, and your profit split goes up to 90%.
Initially, Skilled Funded Traders provides a maximum allocation of $400,000, but this can be increased to a maximum of $2 million through scaling.
Skilled Funded Traders operates through brokers such as Eightcap and Think Markets. They charge up to $5 per lot on Eightcap and up to $7 per lot on Think Markets, with no commissions on commodities, indices, and cryptocurrencies with both brokers. It's worth noting that while they offer low spreads, you may encounter increased slippage when trading with high lot sizes.
Currently, cryptocurrency is the only payout method available through Skilled Funded Traders, as many Proprietary Trading firms have discontinued working with Deels. You can receive your payments in Bitcoin, Ethereum, USDT, and USDC.
Thank you for taking the time to read this concise overview of Skilled Funded Traders.