Reviewed by Jacob Bakshi
Jacob Bakshi
Senior Market Strategist
Trading CFDs and options has been my playground for years, and I love helping others understand these powerful tools and what makes the financial world tick. My work mostly focuses on giving traders the confidence to make informed decisions with unbiased reviews into platforms that prioritize fair pricing, advanced tools, and reliable execution because In fast-moving markets, every detail matters. I have a background in market analysis and risk management, and I’m always on the lookout for brokers that offer the right tools for serious traders. using our CLEAR™ Methodology The CLEAR™ Score (Credibility, Leverage, Execution, Accessibility, Regulation) is our proprietary ranking system. The CLEAR™ Score provides you with the most accurate and transparent broker ranking after evaluating all the key factors that are crucial for trading success. .
Last fact check on June 23, 2026 by
Michelle Sofia
Michelle Sofia
Market Analyst • Editorial Review
Michelle is the financial content architect and SEO market analyst at CleaRank, and the final editorial reviewer on every CleaRank publication. With a background in financial journalism and fintech reporting, she fact-checks each broker investigation for accuracy before it goes live.
The Funded Trader Review 2026
The Funded Trader is one of the prop industry’s most debated comeback stories. Founded in 2021 by Angelo Ciaramello, it grew into a household name before a 2024 liquidity crisis froze payouts for more than 1,200 traders, forced a three-week shutdown, and pushed the company to restructure and move offshore to the Cayman Islands. Since its April 2024 relaunch the firm has rebuilt around faster on-demand payouts, multiple platforms, and splits up to 95%. Whether that rebuild has restored trust is the central question any 2026 trader must weigh. Let us break it down using our CLEAR framework.
CLEAR™ Certified Prop Firm
CLEAR™ CERTIFIED PROP FIRM: 4.0/5
- Relaunched April 2024 after a major payout crisis
- Profit split from 90% up to 99% after six payouts
- One, two, and three-step evaluation paths
- Four platforms: DXtrade
- Entry from $42 for a $5,000 account
- Scaling toward $5 million in capital
Customer Support3.8
Account Types and Fees4.3
Trading Conditions4.1
Reputation3.3
Platforms4.5
Payout Process4.0
Customer Support3.8
Account Types and Fees4.3
Trading Conditions4.1
Reputation3.3
Platforms4.5
Payout Process4.0
Why Trade with The Funded Trader
On paper, the rebuilt The Funded Trader is competitive. Splits start at 90% and scale to 99% after six approved payouts, the lineup covers one, two, and three-step routes through its Knight, Royal, and Dragon tiers, and four platforms give real execution flexibility. Entry is cheap at $42, and the scaling plan reaches $5 million.
Payouts are marketed aggressively post-relaunch, with on-demand requests on top tiers and crypto or Rise rails. For traders who value high splits and platform choice, and who are comfortable with the firm’s history, the current offering is feature-rich.
The caveats are serious and we weight them heavily. The 2024 crisis left over 1,200 traders waiting on funds, the firm relaunched offshore with only partly disclosed ownership, and support response times remain inconsistent. This is the one review in our set where reputation, not features, should drive your decision. Treat the rebuild with appropriate caution.
Pros
Standard 95% scaling to 99% after six approved payouts is among the most generous.High profit splits
DXtrade, cTrader, MT5, and Match-Trader give real execution flexibility.Four platforms
One, two, and three-step routes via Knight, Royal, and Dragon tiers.Flexible evaluations
Top tiers allow anytime withdrawals via crypto and Rise.Fast on-demand payouts
Challenges start at just $42 for a $5,000 account.Low entry cost
Accounts can grow toward $5 million through the scaling plan.High scaling ceiling
Cons
The firm froze payouts for 1,200-plus traders, paused operations, and relaunched offshore, a serious trust event.2024 payout crisis
The Cayman restructuring left ownership and accountability questions only partly answered.Post-relaunch opacity
Response times can lag, especially during busy periods and weekends.Inconsistent support
Standard 95% scaling to 99% after six approved payouts is among the most generous.High profit splits
DXtrade, cTrader, MT5, and Match-Trader give real execution flexibility.Four platforms
One, two, and three-step routes via Knight, Royal, and Dragon tiers.Flexible evaluations
Top tiers allow anytime withdrawals via crypto and Rise.Fast on-demand payouts
Challenges start at just $42 for a $5,000 account.Low entry cost
Accounts can grow toward $5 million through the scaling plan.High scaling ceiling
The firm froze payouts for 1,200-plus traders, paused operations, and relaunched offshore, a serious trust event.2024 payout crisis
The Cayman restructuring left ownership and accountability questions only partly answered.Post-relaunch opacity
Response times can lag, especially during busy periods and weekends.Inconsistent support
Reputation: A Rebuild Under Scrutiny
CLEAR™ Score 3.3/5
Reputation is where The Funded Trader scores lowest, and deservedly so. In early 2024 a liquidity crisis left more than 1,200 traders waiting on owed funds, the firm paused for three weeks, faced lawsuits, and relaunched from the Cayman Islands with only partly disclosed ownership. It is operating and paying again post-relaunch, but trust remains the open question. Plan your entries and targets with the CLEAR Fibonacci Calculator, and weigh a firm’s history carefully before funding an account.
Additional Website Audit
Metric | Value (from Ahrefs) |
|---|---|
Domain Rating (DR) | 54 |
URL Rating (UR) | 6 |
Backlinks | 2.4K (5.3K all-time) |
Referring Domains | 732 |
Organic Keywords | 324 (33 in top 3) |
Monthly Organic Traffic | 32.2K (value $38.5K) |
Top Country | United States (33.9%) |
What We Liked
- Still operating. The firm relaunched in April 2024 and continues to pay post-relaunch.
- Brand recognition. One of the most searched names in the prop space.
- Feature rebuild. High splits and multi-platform access were restored.
What We Did Not Like
- 2024 payout freeze. More than 1,200 traders were left waiting on funds.
- Offshore restructuring. The move to the Cayman Islands left ownership only partly disclosed.
- Lingering distrust. The crisis still shapes how cautious traders view the firm.
Account Types and Fees: Tiered and Flexible
CLEAR™ Score 4.3/5
The Funded Trader runs one, two, and three-step evaluations across Knight, Royal, Classic, and Dragon tiers, with Pro variants offering a 95% split. Entry is low at $42, fees are refunded with the first payout on standard models, and splits scale to 99%. Pricing climbs steeply at larger sizes.
Feature | 1-Step (Knight) | 2-Step (Royal) | 3-Step (Dragon) |
|---|---|---|---|
Phases | 1 | 2 | 3 |
Profit Target | 10% | 8% then 5% | 8%, 5%, 5% |
Max Drawdown | 8% | 10% | 10% |
Daily Drawdown | 3% to 5% | 5% | 5% |
Cheapest Entry | $42 (5K) | $42 (5K) | Varies |
Profit Split | Up to 95% | Up to 95% | Up to 95% |
Fee Refundable | First payout | First payout | First payout |
What We Liked
- Flexible tiers. One, two, and three-step routes for different paces.
- High splits. Up to 95%, scaling to 99% after six payouts.
- Low entry. Challenges start at just $42.
What We Did Not Like
- Steep large-size pricing. A 100K two-step has been priced around $997.
- Pro automation limits. Pro models restrict EAs and copy trading.
Trading Conditions: Capable, Rule-Heavy
CLEAR™ Score 4.1/5
The Funded Trader offers raw-style spreads across roughly 47 instruments spanning forex, indices, metals, commodities, and crypto, with leverage up to 1:200 depending on tier. EAs are allowed on most non-Pro models, news trading is permitted outside a two-minute window around high-impact events, but copy trading is restricted and a consistency rule applies.
Feature | Detail |
|---|---|
Leverage (Forex) | Up to 1:200 (1:30 to 1:100 by tier) |
Spreads | Raw-style, competitive |
Commission | About $4 per lot FX, $1 metals; $0 indices/crypto/oil |
Instruments | About 47 (forex, indices, metals, commodities, crypto) |
News Trading | Allowed, except 2 minutes around high-impact news |
Weekend Holding | Allowed on Royal; varies by model |
EA / Algo | Allowed on most non-Pro models |
Copy Trading | Restricted |
Consistency Rule | Applies (varies by model) |
What We Liked
- Higher leverage option. Up to 1:200 on some tiers.
- EAs on most models. Automation allowed outside the Pro variants.
- News allowed. Permitted outside the high-impact news window.
What We Did Not Like
- Copy trading restricted. Trade copiers are limited across models.
- Tier-dependent rules. Leverage, automation, and weekend rules vary by model.
Platforms: Genuinely Flexible
CLEAR™ Score 4.5/5
Platform choice is a real strength: DXtrade, cTrader, MetaTrader 5, and Match-Trader, all managed from a proprietary dashboard for KYC and payout requests. That four-way lineup covers EA users, depth-of-market traders, and modern web traders alike.
Platform | Notes |
|---|---|
MetaTrader 5 | EAs and indicators |
cTrader | Depth-of-market tools |
DXtrade | Modern web execution |
Match-Trader | Modern web and mobile |
What We Liked
- Four platforms. DXtrade, cTrader, MT5, and Match-Trader.
- EA support. MetaTrader 5 supports automated strategies.
- Proprietary dashboard. KYC and payouts in one place.
What We Did Not Like
- Platform history. The 2024 forced MT5-to-DXtrade migration caused disruption.
Payout Process: Fast on Paper
CLEAR™ Score 4/5
Post-relaunch, payouts are marketed as on-demand on top tiers, with a 24-hour guarantee that pays double if missed, via Rise, USDC, Ethereum, and Bitcoin. Splits start at 90% and scale to 99% after six approved payouts. Given the 2024 history, treat the speed claims as promotional until proven for your own account.
What We Liked
- On-demand on top tiers. Knight and Knight Pro allow anytime withdrawals.
- High split ceiling. Up to 99% after six approved payouts.
- Crypto and Rise rails. Multiple fast withdrawal methods.
What We Did Not Like
- Promotional claims. The speed guarantees are marketing; verify for your account.
- History risk. The 2024 freeze is the reason to stay cautious on payouts.
Customer Support: Multichannel, Uneven
CLEAR™ Score 3.8/5
Support spans live chat, email, a phone line, and Discord, but independent user reports describe inconsistent response times, especially during high-volume periods and weekends. The channels are there; the reliability is the question, particularly given the firm’s history.
Channel | Performance |
|---|---|
Live Chat | Available, can lag |
Available | |
Phone | Listed line |
Discord | Active community |
Languages | English-primary |
What We Liked
- Multiple channels. Chat, email, phone, and Discord.
- Active community. A large Discord supplements support.
- Phone option. A listed phone line is available.
What We Did Not Like
- Inconsistent speed. Response times can lag at peak periods.
- English-focused. Multilingual coverage is not confirmed.
The Funded Trader FAQ
What is The Funded Trader?
The Funded Trader is a proprietary trading firm founded in 2021 that funds traders through one, two, and three-step evaluations. After a 2024 payout crisis it relaunched offshore in April 2024, with splits up to 95% and scaling to $5 million.
Is The Funded Trader legit?
It is operating and paying again after its April 2024 relaunch, but its 2024 payout crisis, which left more than 1,200 traders waiting on funds, means reputation is the key factor to weigh. It is unregulated, standard for prop firms.
What happened to The Funded Trader in 2024?
A liquidity crisis and a forced MetaTrader-to-DXtrade migration froze payouts for over 1,200 traders, prompting a three-week shutdown, lawsuits, and a relaunch from the Cayman Islands in April 2024.
Does The Funded Trader accept US traders?
Availability varies by region and platform; confirm eligibility at checkout.
Where is The Funded Trader located?
Originally based in Texas, the firm moved its operating entity to the Cayman Islands during its 2024 restructuring.
Who owns The Funded Trader?
The Funded Trader was founded by Angelo Ciaramello; the post-relaunch ownership structure was only partly disclosed.
How much does The Funded Trader cost?
Challenges start at about $42 for a $5,000 account, with larger sizes priced higher. Fees are refunded with the first payout on standard models.
What is the profit split?
The split starts at 90% to 95% and scales to 99% after six approved payouts.
Does it allow EAs and news trading?
EAs are allowed on most non-Pro models, and news trading is permitted outside a two-minute window around high-impact events. Copy trading is restricted.
When and how do I get paid?
Top tiers offer on-demand payouts via Rise, USDC, Ethereum, and Bitcoin, with a marketed 24-hour guarantee. Given the firm’s history, verify timing for your own account.
Disclaimer: This review reflects CleaRank’s independent CLEAR assessment and is not financial advice. Prop-firm rules, fees, and payout terms can change; always verify the current terms on the firm’s own site before purchasing a challenge or funded account.
Jacob Bakshi
I’m Jacob and I specialize in CFDs, options trading, and market analysis. Over the years, I’ve developed a deep understanding of the risks and rewards that come with trading derivatives and survived enough volatility to know that trading is like skydiving: thrilling, but you’d better trust your parachute (or broker). I use CleaRank’s Methodology to test brokers based on their offerings and ensure traders that visit our site have access to brokers that align perfectly with their trading strategies.
More CLEAR™ Certified Prop Firms
Comparing options? See our reviews of Goat Funded Trader and FunderPro, or browse the full list of CLEAR Certified prop firms.