Are you in search of an impartial assessment of Fortunes Funding? Look no further, as I aim to provide you with an insightful analysis that will assist you in making an informed decision about whether this Forex proprietary firm is suitable for your needs or not.
Before delving into the specifics of this Fortunes funding review, it’s worth noting one of the remarkable aspects that set Fortunes Funding apart—a lack of mandatory minimum trading days. Furthermore, by utilizing our exclusive Fortunes Funding coupon code mentioned below, you can secure a funded account for a mere $62.
The firm has garnered over 130 reviews on Trustpilot, boasting an impressive rating of 4.5. This outstanding rating is particularly noteworthy considering the firm’s relatively recent establishment. Accompanied by a generous $500,000 scale-up plan, Fortunes Funding has made commendable strides in its pursuit of excellence.
What is Fortunes Funding Prop Firm? Insights Covered
Fortunes Funding is a forex prop firm based in Cresco, Pennsylvania in the United States. The prop firm is currently taken care of under the supervision of CEO James Storms. With quite a variety of options available, Fortune Funding has got 7 different trading models which can be used in order to deliver the best resources to a variety of traders.
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Currently, Fortunes Funding has got a 2 phase funding model, well technically a 3 phase but the 2 phases are for the evaluation, whereas the third phase is where you get your funded account. It is worth mentioning that where most prop firms have 30 days to 60 days evaluation period, Fortunes Funding offers a 40-day (phase 1) and 80 days (phase 2) evaluation period, and phase 3 is where you have your live funded account.
Fortunes Funding Account Types (Fortunes Funding Review)
Fortunes Funding offers several account types which makes it an excellent choice among traders in understanding which one is better. The funded accounts offered by Fortunes funding are as follows:
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The Funded accounts offered by Fortunes Funding are basically made in such a way that they can deliver the best value to almost every trader across different levels. Now that you have seen that all funded accounts are available and too at a discounted price, let’s take a glance at the basic set of rules that you need to follow to pass the phases and get yourself a trading account successfully.
These funded accounts are tailored in such a way that you can choose the best plan as per your needs. Now that you have already got an overview of the trading plans, let’s now hop into an understanding of the forex funding and prop firms.
Fortunes Funding uses AIRJFX as their forex broker, the platform works on the MT5 platform and is not available on the MT4.
Fortunes Funding Coupons & Discount Codes ➤ Fortunes Funding Review
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Understanding Forex Finance
Forex trading can be a lucrative endeavor, but it requires a good amount of capital to get started. That’s where foreign currency loans come in. Forex financing is essentially the process of raising funds to trade foreign exchange. There are different types of FX financing, each with its own pros and cons.
Types of Forex Funding
- Self-financing is the easiest method of forex financing. It is to open a trading account with a broker using your own money. This method gives you more control over your trading, but you also bear all the risks of trading.
- Proprietary trading firms (Forex Prop Firms) provide forex traders access to significant capital without having to invest their own money. have to share. This type of forex funding is an excellent option for experienced traders looking to expand their trading activity.
- Forex trading contests are a way for traders to compete for prizes by trading on demo accounts. This type of funding is not suitable for traders looking for large amounts of capital, but it is an excellent option for traders looking to test their trading strategies in a risk-free environment.
Several factors come into play when choosing a forex funding option. This includes trading experience, risk tolerance, and financial goals. We recommend doing thorough research and weighing all the pros and cons of each financing option before making a decision.
Fortunes Funding Key Features ➤ Fortunes Funding Review
I have tried to cover all the important key features offered by Fortunes Funding, some of them are as followed:
- No Minimum trading days required
- Leverage of 1:100 (Comparitively higher than other prop firms)
- 5% Maximum daily loss available
- 10% Maximum daily loss
- Scale up available for a $500,000 account
- The funded model starts at $5000 (Costs only $65 using Fortunes funding coupon)
News Trading by Fortunes Funding ➤ Fortunes Funding Review
Throughout both of its challenge periods, the company permits news trading. However, it imposes limitations on news trading for Funded Accounts connected to live capital for 2 minutes prior to and following the release of a red folder event. This prohibition covers opening and closing market orders as well as triggered take profits or stop losses inside the 4-minute window. It also applies to FX, Metals, and Indices products.
The restriction table highlights the macroeconomic events and instruments that are forbidden during breaking news. Currency instruments such as the USD, GBP, EUR, CAD, AUD, CHF, NZD, and JPY are listed in the table. Furthermore, all red folder events displayed in Forex Factory, even those that aren’t included in the table, are regarded as news-restricted events.
On challenge accounts, trading news is still permitted. However, traders should be aware that there may be slippages and that they are accountable for any losses brought on by breaking the maximum drawdown rules. A trader is urged not to trade a certain instrument during high-impact news releases since the company cannot guarantee profits made during such events. However, traders must trade with reasonable lot sizes as if they were trading live accounts.
Fortunes Funding Phases Offered ➤ Fortunes Funding Review
Fortunes Funding offers three different stages to complete the entire fundraising process. The two stages have different profit targets, 9% for the first stage and 4.5% for the second stage. After completing two stages, you are ready to receive your funds.
Fortunes Funding Phase 1
The Evaluation Process’s initial step is called Stage 1. To move on to Stage 2, you must be successful here. Show off your trading prowess and self-control by adhering to the Trading Objectives.
The profit target must be reached within 40 days with no drawdown violations in order to pass Stage 1. The overall profit target is 9% in the first phase, which is comparatively lower than other prop firms in the ecosystem.
Your maximum daily loss (drawdown) will be 5% of your initial balance, whichever is higher, from your previous day’s ending balance or equity. Each day at 5:00 PM ET, your maximum daily loss equity level will be updated depending on your ending day (server time) balance or equity, whichever is higher.
A maximum overall loss (drawdown) of 10% of the initial account balance that you opened is permitted.
Fortunes Funding Phase 2
The second and final step to a Fortunes Funding funded account is Stage 2. You will be given the opportunity to trade with Fortunes Funding proprietary trading firm after Stage 2 and when your results have been confirmed.
The profit target must be reached within a period of 80 days with no drawdown violations in order to move on to Stage 2. The profit target for the Fortunes Funding phase 2 is 4.5% which is lower than other prop firms and offers a long time period of 80 days.
The maximum daily loss (drawdown) will be 5% of your initial balance, whichever is higher, from your previous day’s ending balance or equity. Each day at 5:00 PM ET, your maximum daily loss equity level will be updated depending on your ending day (server time) balance or equity, whichever is higher.
Fortunes Funding Phase 3: Funded Account
Once you have completed both phases, you now have access to the Funded account. You have now been approved as a trader by Fortunes Funding. Profit sharing of 80% is offered to traders who behave properly and consistently (90% with account scaling). After your initial trade on your funded account, you have 21 days to request your first withdrawal. All withdrawals after your initial withdrawal must be made 21 days after your last withdrawal from your last trade.
Conclusion ➤ Fortunes Funding Review
Overall, Fortunes Funding can be a good-to-go choice as your prop firm, what makes Fortunes Funding popular among forex traders is due to affordable prices of this prop firm. On the other hand, what makes it different is the news trading, the Fortunes funding offers the news trading feature so no more worries about trading in the volatile period.
From a forex trader’s perspective, it can be said that Fortunes Funding is worth giving a shot in terms of being a suitable prop firm, the affordability, news trading, the phases, leverage, etc. make Fortunes Funding a good choice overall.
Hopefully, this Fortunes Funding review might have cleared some of the common queries that you might be having regarding Fortunes Funding.
Don’t forget to check out other prop firm reviews:
FAQs on Fortunes Funding Review
What is Fortunes Funding?
Fortunes Funding is a forex prop firm with 2 evaluation phases and a generous profit split of 80%.
Does Fortunes Funding accept MetaTrader 4?
No, Fortunes Funding accepts Metatrader 5 as the trading platform for its traders.
Which broker does Fortunes Funding use?
Fortunes Funding uses AIRFX as their forex broker.
