Overview of Nordic Funder Prop Firm
Nordic Funder is a prop trading company that offers its clients 5 various plans. The funding of the customers ranges from $25,000 to $400,000; however, the balance can scale up to $1 million regardless of the chosen plan. The initial deposit that one needs to start with the firm starts at $250, which is refundable upon successfully completing the challenge. There is no time limit to qualify, so long as the trader achieves a 10% profit from the capital. The subsequent scaling requires the same profit. Also, each subsequent scaling doubles the balance.
Maximum daily drawdown is 5%, total of 10%. Leverage up to 1:10, and for an extra, it is possible up to 1:20. Traders start with 50% profit sharing that can be scaled- for a fee- up to 90%, for a fee. Trading is facilitated through the MT4 trading platform. This company operates in partnership with the broker Scandinavian Capital Markets. There is no restriction and most trading strategies and methods are accepted.
Key Features of Nordic Funder Prop Firm
Funded Accounts
The main highlight of Funding Traders is the funded account program they have. Traders must pass certain criteria for being eligible for accounts ranging from 10,000 to 300,000 dollars. With this structure in place, traders can easily leverage the initial amounts that best suit their experience and move up the scale with ease into larger accounts once they have proven profitability by following the risk management rules.
Evaluation Process
The process of evaluation at Funding Traders is designed to screen out disciplined and skilled traders who apply to the program. It requires testing and a simulation of trades to vet one’s abilities. In fact, it is an aggressive screening process because only competent traders deserve funding: competent enough to protect the company’s capital and maintain a superior standard of excellence in trading performance.
Risk Management
Risk management has been the core philosophy of Funding Traders. It emphasizes the importance of strict risk management rules, including daily loss limits, maximum drawdown limits, and position sizing. By instilling these principles, Funding Traders helps traders develop responsible habits for long-term success.
Education
Funding Traders actively commits to the ongoing development of its traders. It gives them access to a wealth of educational resources, including webinars, tutorials, and one-on-one coaching sessions. These will range from technical analysis and trading psychology all the way to advanced trading strategies. Thus, with the preparation in knowledge and tools, Funding Traders ensures that participants will be fully equipped and ready for the sophistication present in the financial markets.
Withdrawal Options and Fees
- A trader, while in the challenge, is trading on a demo account and is not earning profits.
- This prop trading company client will be trading unrestricted on a real account after the challenge. If he or she succeeds, one will be able to withdraw his or her profit share at any time.
- The option to withdraw profits does exist: for bank accounts, bank cards, cryptocurrency wallets, or even sent through electronic transfer systems.
- The request submission within the user’s user account on the official website of this prop trading company is the very beginning of the withdrawal process.
- Withdrawal with Nordic Funder involves a fee; one is informed in advance when submitting the request.
- Additionally, a bank or electronic payment system involved in the transaction might charge a fee.
Pros of Nordic Funder Prop Firm Review
Variety in Funding Plans and Scalability
With Nordic Funder, there are five varied funding plans available for an initial capital of up to US$ 400,000. The company’s unique feature is its scalable plans, allowing traders to grow their accounts up to US$ 1 million. This step will ensure traders receive a tailored plan that allows significant growth in their trading careers.
Refundable Initial Deposit
Traders need a minimum deposit of $250 with Nordic Funder, fully refundable upon passing the qualification challenge.The policy helps reduce financial stress on first-time traders by ensuring that the latter’s initial investments are not compromised, making it an attractive firm in this regard for those who have possible reservations about the investment amount required initially.
No Time Limit on the Challenge
There is no time constraint for the Nordic Funder qualification challenge. It requires traders to reach a 10% profit but does not specify the period in which to achieve this goal. This is less stress compared to that which could arise from pressure on the timeline, with time to think over strategies and performance.
Flexible Trading Styles and Methods
The Nordic Funder is famous for its flexibility in trading styles and approaches. There will not be any restrictions on traders as to a specific approach towards trading; this means that, apart from advisors, copy trading also will be available. Such an open policy will support different trading styles and techniques, which in turn could help traders find the best way of conducting trading that would satisfy their goals and preferences.
Customizable MetaTrader 4 Platform
This comprises the MetaTrader 4 platform, which is strong and highly customizable. The MetaTrader 4 can be customized to a trader’s particular needs through the wide selection of plugins that you can employ in customizing it. This brings about efficiency in a custom trading experience.
Partner with a Reliable Broker
The cooperation between Nordic Funder and Scandinavian Capital Markets adds that layer of credibility and reliability to the offering. Scandinavian Capital Markets has built a solid reputation as a well-regarded broker, ensuring that traders operate in a trusted and professional environment supported by a reliable financial institution.
Cons of Nordic Funder Prop Firm Review
Insufficient Available Reviews and Feedback
One of the major drawbacks of Nordic Funder is that very few reviews or feedback are available from traders. The absence of user-generated content hinders assessing a firm’s reliability and performance based on other traders’ experiences. To others, this may be a red flag because most traders conduct extensive research about the reputation of a firm before joining.
Above-Average Profit Targets
With Nordic Funder, offering attractive trading flexibility while the qualification challenge may come with above-average profit targets, probably quite steep, depending on the prevailing market conditions and one’s strategy. The profit required to qualify is 10%, and such a target may raise the bar, particularly for those who want to reach trading success in a more gradual manner.
Frequently Asked Questions
What can I trade at Nordic Funder?
Nordic Funder enables traders to access diverse markets including Forex pairs, cryptos, indices, and popular commodities including gold and oil.
