What The Funded Trader does

The Funded Trader (TFT) is a privately held simulated trading evaluation firm incorporated in Florida, USA, that operates a proprietary platform offering retail traders the ability to demonstrate trading skills in a simulated environment and earn profit splits on virtual profits. Founded by Angelo Ciaramello alongside the founders of Forex League and VVS Academy, the company serves individual retail forex, CFD, index, commodity, and crypto traders globally (excluding sanctioned jurisdictions) who lack access to substantial trading capital or wish to prove skills without personal financial risk. Traders access the platform via self-serve ecommerce at thefundedtraderprogram.com, choosing from seven challenge programs (Knight, Knight Pro, Royal, Royal Pro, Dragon, Standard, Rapid) priced from $489 to $578 for a $100k account, with credentials delivered within five minutes of payment.

The core technology is a simulated trading environment that replicates real market conditions using live quotes from liquidity providers with dynamic execution settings, integrated with three third-party trading platforms: DXtrade, cTrader (with TradingView), and Match-Trader. A proprietary performance monitoring system tracks trader progression through evaluation phases and applies consistency rules such as the Steadfast Gains Rule (capping any single day's profit at 50% of total profits) and The Daily March Rule (requiring minimum profitable days). Completing challenges grants access to TFT Funded Accounts with up to $600,000 in virtual capital per account and up to $2.5M in maximum allocation.

The business model combines one-time challenge evaluation fees with a tiered profit split on virtual trading performance, scaling from 90% on the first payout to 99% after six approved payouts plus a Bonus Pool mechanism for top-tier traders. Revenue is amplified by a three-tier affiliate program offering 7.5%-15% commissions, monthly free trading competitions, and engagement via Discord, YouTube, and Instagram. The company has distributed over $100 million in cumulative trader payouts across its roughly two-year operating history, holds four 2023 industry awards (Best Prop Firm, Silver Stevie, Corporate Vision Excellence, Best Retailer Funding Platform), and concluded a May 2025 SEC review of its simulated trading model with no enforcement action.

Name

The Funded Trader

Legal name

The Funded Trader LLC

Website

https://thefundedtraderprogram.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

The Funded Trader is a Florida-based simulated trading evaluation firm that lets retail traders prove their skills across seven challenge programs, earn funded accounts up to $600,000, and receive profit splits scaling to 99% on virtual performance.

Ownership category

akta.pro rank

Product category

Proprietary Trading (Prop Firm)

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Exchange Odds, Pricing, Trading Tools & APIs (MPAEAIAG)

Keywords

• Prop trading evaluation
• Simulated trading accounts
• Forex prop firm
• Funded trader programs
• Profit split accounts

Headquarters

HQ city

Fort Lauderdale

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure

Revenue model

1. Challenge Evaluation Fees: One-time upfront fees paid by traders to participate in evaluation challenges. Prices vary by program and account size, ranging from approximately $489 to $578 for $100k challenges. This is the primary revenue stream before traders reach funded status.
2. Profit Split from Funded Accounts: After passing evaluation, traders receive profit splits on virtual profits generated. Structure is tiered: 1st payout at 90% (capped at 0.5% of initial balance), increasing through tiers to 99% after 6+ approved payouts. Additional Bonus Pool available for top performers at highest tier.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels6 records

Core offering

The Funded Trader sells simulated trading evaluation challenges (e.g., Knight, Royal, Dragon, Standard, Rapid, Knight Pro, Royal Pro) that retail traders pay a one-time fee to attempt; traders who pass the rules-based evaluation receive a funded account and earn a share of the simulated profits. The firm also operates a gamified rewards application (Treasure Hunt), affiliate and VIP programs, and recurring competitions that monetize engagement around the core evaluation offering.

Product overview

The Funded Trader is a simulated trading evaluation firm offering a platform-plus-multiple-challenge architecture. The core offering includes seven distinct challenge evaluation programs: Knight Pro Challenge (single-phase, up to $2.5M allocation), Royal Challenge (two-step with EA/weekend trading), Royal Pro Challenge (single-phase with crypto support), Knight Challenge (one-phase, 7-day first payout), Dragon Challenge (three-step for affordability), Standard Challenge, and Rapid Challenge. Completing challenges grants access to simulated TFT Funded Accounts with up to $600,000 in virtual capital. The ecosystem includes the Treasure Hunt gamification app, free monthly Competitions, an Affiliate Program with tiered commissions, and a VIP Program with profit splits scaling to 99%. Traders access markets through DXtrade, cTrader (with TradingView), and Match-Trader platforms. The program operates with KYC/AML verification and collects trading data for monetization while compensating traders via profit splits.

Differentiator

Problem solved

Functional benefit

Brands

• TREASURE HUNT APP: A gamified mobile application where users can earn rewards for playing games, completing tasks, and referring friends.

Products and services

• Knight Pro Challenge Premium-tier simulated trading evaluation challenge; retail traders pay a one-time fee to attempt the rules-based evaluation and, on passing, become eligible for a funded account with a profit split.
• Royal Pro Challenge Premium-tier simulated trading evaluation challenge in the Royal line; retail traders pay a one-time fee for the chance to pass rules and earn a funded account with a profit split.
• Royal Challenge Mid/premium simulated trading evaluation challenge from the Royal line; one-time fee, rules-based qualification, and eligibility for a funded account with profit split on success.
• Knight Challenge Mid/premium simulated trading evaluation challenge from the Knight line; one-time fee, rules-based qualification, and eligibility for a funded account with profit split on success.
• Dragon Challenge Simulated trading evaluation challenge in the Dragon line; one-time fee, rules-based qualification, and eligibility for a funded account with profit split on success.
• Standard Challenge Core simulated trading evaluation challenge; one-time fee, rules-based qualification, and eligibility for a funded account with profit split on success.
• Rapid Challenge Entry-level simulated trading evaluation challenge; one-time fee, streamlined rules, and eligibility for a funded account with profit split on success.
• TFT Funded Account Funded simulated trading account issued to traders who pass a The Funded Trader evaluation challenge, entitling them to a profit split on the simulated account.
• Treasure Hunt App Gamified rewards application that lets users complete in-app activities to earn prizes and engagement incentives tied to the broader The Funded Trader ecosystem.
• Affiliate Program Referral program that pays partners a commission for referring new customers who purchase The Funded Trader evaluation challenges.
• VIP Program Paid loyalty/membership tier offering repeat customers enhanced benefits tied to The Funded Trader evaluation and funded account services.
• Competitions Recurring paid trading competitions in which retail traders compete for prizes based on simulated trading performance.
• Bonus Pool Promotional bonus pool that distributes rewards to active participants in The Funded Trader evaluation and funded account programs.

Quantifiable outcome

• Pass rates improved from 5.3% to 13.1% after introducing consistency-focused products
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Six partnerships are on record, tiered founding and core.

• Forex LeaguefoundingStrategic or Co-development PartnerThe Forex League founders were instrumental in creating The Funded Trader. The founders reviewed other platforms and identified an opportunity to provide what the trading community needed - a community for traders, by traders.
• VVS AcademyfoundingStrategic or Co-development PartnerVVS Academy founders collaborated with Forex League founders to establish The Funded Trader after simulated trading and reviewing other platforms in the industry.
• DXtradecoreTechnology or IntegrationOne of three trading platforms offered (Beginners, DXTrade). Professional trading platform integrated with The Funded Trader's simulated trading environment.
• cTradercoreTechnology or IntegrationAdvanced trading platform available alongside DXTrade and Match-Trader. cTrader offered with TradingView integration for professional charting and analysis.
• Match-TradercoreTechnology or IntegrationOne of the three trading platforms offered by The Funded Trader, providing traders with multiple platform options for their simulated trading activities.
• TradingViewcoreTechnology or IntegrationTradingView charting and analysis tools integrated with cTrader platform. Provides traders with advanced charting capabilities, custom indicators, and technical analysis tools.

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Surge Trading: Surge Trading (Surge Funded) operates a simulated prop trading evaluation model targeting retail Forex and CFD traders. Comparable in challenge-fee revenue model, funded account offerings, and trader community focus.
• MyFundedFX: MyFundedFX is a retail prop trading evaluation firm with similar challenge-based funded account offerings for Forex and CFD traders. Overlaps with TFT on target customer, pricing tiers, and platform integrations.
• FTMO: FTMO is the largest and most established retail prop trading evaluation firm, offering similar challenge-based simulated funded accounts. Directly comparable business model, target customer (retail Forex/CFD traders), and revenue structure (challenge fees + profit splits).
• True Forex Funds: True Forex Funds is a retail prop trading firm offering simulated funded accounts through evaluation challenges, directly comparable to TFT in business model, customer profile, and revenue mechanics.
• The Trading Pit: The Trading Pit is a multi-asset prop evaluation firm offering simulated funded accounts across Forex, indices, and commodities. Directly comparable in challenge structure, profit split model, and target retail trader audience.
• FundedNext: FundedNext is a fast-growing retail prop firm offering simulated funded accounts with multi-tier challenge programs. Directly competes with TFT on challenge pricing, profit split structure, and trader community engagement.
• E8 Funding: E8 Funding operates a retail prop evaluation model nearly identical to TFT's, offering challenge-based simulated funded accounts with profit splits. Direct competitor on product features, trader segments, and pricing.
• Topstep: Topstep is a leading prop evaluation firm focused on futures traders, operating the same simulated-funded-account evaluation model as TFT. Comparable in target market (US retail traders) and product structure (challenge → funded account → profit split).

Broad incumbents

• OANDA: OANDA is a long-established retail Forex and CFD broker with global reach. As a broader incumbent in retail FX trading infrastructure, OANDA competes for the same trader mindshare as TFT and could expand into prop evaluation-style offerings.
• Interactive Brokers: Interactive Brokers is a large, established multi-asset brokerage serving retail and institutional traders globally. While not a prop evaluation firm, IBKR is a broad incumbent whose retail-trader customer base overlaps significantly with TFT's target market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@thefundedtrader
• Xx.com/thefundedtrader

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Funded Trader