Direct Funded Trader Review
So, let's start our honest Direct Funded Trader Review and try to say from the start that this Prop Firm is one of those where you can trade on MetaTrader 5, which means using a huge number of trading robots and scripts that are created for this platform. It will be easier to win, and the trading rules of Direct Funded Trader are quite simple. However, first things first.
- Trading Platform: MetaTrader 5
- Leverage: Up to 1:100
- Broker on whose platform Prop Trading is conducted - Blueberry Markets
- Cashback: Offers $3 per traded lot during evaluation phases
- Overnight Holding: Permitted
- Weekend Holding: Allowed, except in the Standard Fast Funding program
- Profit Share: 80%
- News Trading: Allowed
- Funding Programs: Two unique programs tailored for diverse trading strategies
- Trader Dashboard: Equipped with a Professional Trader Dashboard for enhanced trading analytics
- Trading Period: No maximum trading period, providing flexibility in trading duration
- Scaling Plan: Includes a strategic plan for account growth based on performance
- Payouts: Bi-weekly, allowing regular access to earnings
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Expert Advisors Suitable for this Prop Firm:
Review Direct Funded Trader Funding Programs
Direct Funded Trader is rapidly emerging as one of the most dynamic proprietary trading firms in the industry. With a forward-thinking approach, they integrate groundbreaking technology and modern solutions to cater to traders aiming to advance their careers. The firm offers traders the opportunity to manage accounts up to $200,000, with a generous profit split of 80%. Participants have the flexibility to trade across various markets, including forex pairs, commodities, indices, stocks, and cryptocurrencies. This diverse range of trading options, coupled with high account limits and favorable profit terms, positions Direct Funded Trader as an appealing choice for traders seeking to elevate their trading capabilities and financial achievements.
Evaluation Program Direct Funded Trader
Direct Funded Trader rules:
Profit Target: Traders are required to achieve specific profit targets to successfully complete different phases of their evaluation or to qualify for withdrawals and account scaling. For the initial phase, Phase 1, the profit target is set at 8%, while for Phase 2, traders need to reach a lower target of 5%. Once traders are managing funded accounts, there are no preset profit targets, offering more flexibility in trading strategies.
Maximum Daily Loss: To prevent significant account drawdowns, a cap is placed on losses per day. All account sizes, regardless of phase, have a maximum daily loss limit of 5%. This rule helps manage risk and encourages responsible trading practices.
Maximum Loss: There is also a cap on the total loss a trader can incur. For all accounts, this total maximum loss is restricted to 10%. This limit is crucial for safeguarding the trader's capital and the firm’s resources, ensuring longevity and sustainability in trading operations.
Minimum Trading Days: Both evaluation phases require traders to engage in active trading for at least 5 days. This requirement ensures that traders have sufficient time to demonstrate their trading skills and risk management capabilities under various market conditions.
No Martingale: The use of martingale strategies, where traders double down on losing bets to recoup losses, is strictly prohibited. This rule is in place to discourage high-risk trading behaviors and promote a more consistent and calculated approach to trading.
Participation cost:
- $15,000 - $100
- $25,000 - $199
- $50,000 - $299
- $100,000 - $479
- $200,000 - $979
Direct Funded Trader's Evaluation Program is designed to sift through the ranks of traders and identify those who have the skills to generate profits and manage risks effectively. Here’s a breakdown of the key features and stages of the program:
Account Size Options: Traders can choose to manage accounts ranging from $15,000 to $200,000, offering a broad spectrum of financial capacity.
Leverage: The program allows for trading with up to 1:100 leverage, providing significant potential for capital expansion.
Evaluation Phase One:
- Profit Target: Traders must achieve an 8% profit target.
- Loss Limits: There is a 5% cap on maximum daily losses and a 10% cap on total losses to help enforce disciplined trading.
- Time Requirements: Traders are required to trade for a minimum of five days, but there is no maximum limit on trading days, allowing flexibility.
Evaluation Phase Two:
- Profit Target: The profit target is reduced to 5%.
- Loss Limits: As with Phase One, the 5% daily and 10% total loss limits continue.
- Time Requirements: Similar to Phase One, traders need to trade for at least five days with no upper limit on the number of trading days.
Transition to Funded Account:
- Upon successful completion of both phases, traders are awarded a funded account.
- Withdrawal Requirements: There are no minimum withdrawal thresholds.
- Loss Rules: Traders must adhere to the 5% maximum daily loss and 10% maximum loss rules.
- Payout Schedule: The first payout occurs 30 calendar days after the first trade is placed in the funded account. Subsequent withdrawals can be requested bi-weekly.
- Profit Split: Traders receive 80% of the profits generated in their funded account.
- Cashback Bonus: During the evaluation, traders earn $3 cashback per lot traded, which enhances earnings potential.
The Evaluation Program at Direct Funded Trader includes a robust scaling plan designed to reward successful traders by significantly increasing their account size as they demonstrate their ability to generate substantial profits. This plan not only incentivizes performance but also accommodates growing aspirations and enhances trading capabilities.
Scaling Plan Overview:
Initial Profit Milestone (25% Profit):
- Account Increase: Upon achieving a 25% profit, a trader’s account size will be increased by 50% relative to the initial size.
- Example: If a trader starts with a $100,000 account and generates a 25% profit, the account size is increased to $150,000.
Subsequent Profit Milestone (Next 25% Profit):
- Further Increase: After generating another 25% profit on the new account size ($150,000), the account increases again.
- Example: A $150,000 account generating a further 25% profit will increase to $200,000.
Additional Profit Milestone (Next 25% Profit):
- Final Increase: Following yet another 25% profit from the $200,000 account, the balance escalates once more.
- Example: A $200,000 account that accumulates an additional 25% profit will rise to $250,000.
This scaling mechanism is part of the firm's strategic approach to develop and maintain a portfolio of highly skilled and profitable traders. By aligning the trader’s growth with financial incentives, Direct Funded Trader not only fosters a progressive trading environment but also retains top trading talent. Each increase in account size offers traders greater capital at their disposal, allowing for expanded market participation and potential earnings, thereby creating a cycle of success and reinvestment in the traders’ careers.
Fast Funding Direct Funded Trader
Direct Funded Trader rules:
Profit Target – Traders are required to meet a specific profit percentage of 10% to successfully complete an evaluation phase, make withdrawals, or scale their trading accounts. For funded accounts, there are no preset profit targets.
Maximum Daily Loss – There is a daily limit set on losses, capped at 4% for all account sizes, to prevent account breaches within a single trading day.
Maximum Loss – The overall loss threshold a trader can reach without violating account conditions is set at 7% for all accounts.
Minimum Trading Days – Traders must participate in trading for at least five days during the evaluation phase to meet the criteria for successful completion.
No Martingale – The use of any martingale strategies, which involve doubling down on losing bets to recover losses, is strictly forbidden during trading.
No Weekend Holding – Holding trades over the weekend is not allowed; all positions must be closed by the market close on Friday. However, the Aggressive Fast Funding program allows for weekend holdings.
Participation cost:
- $15,000 - $150
- $25,000 - $280
- $50,000 - $350
- $100,000 - $590
Direct Funded Trader's Fast Funding program provides traders the opportunity to manage account sizes ranging from $15,000 to $100,000, designed to identify disciplined traders who can generate profits and manage risks effectively during a one-step evaluation period. This program is available in two formats: Standard and Aggressive. The Standard Fast Funding option offers leverage up to 1:50, while the Aggressive Fast Funding provides leverage up to 1:30. A key distinction between the two is that Aggressive Fast Funding allows for weekend position holding, whereas Standard Fast Funding requires all positions to be closed by the weekend.
During the evaluation phase, traders are challenged to achieve a profit target of 10%, without exceeding a 4% maximum daily loss or a 7% total maximum loss. There are no maximum trading day limits; however, traders must engage in at least five trading days to qualify for a funded account.
Upon successful completion of the evaluation, traders are granted a funded account with no minimum withdrawal restrictions. They must continue to adhere to the 4% daily loss and 7% total loss limits. The first payout is scheduled 30 calendar days after the initial trade is placed in the funded account, with subsequent withdrawals available bi-weekly. Traders earn a profit split of 80% on earnings from the funded account and receive $3 cashback for each lot traded during the evaluation phase.
The Fast Funding program at Direct Funded Trader includes an ambitious scaling plan designed to reward traders who demonstrate significant profit-generating abilities. This scaling plan provides substantial growth opportunities for successful traders by increasing their account sizes in response to achieved profit milestones.
Details of the Scaling Plan:
Initial Profit Milestone (25% Profit): When a trader achieves a 25% profit, their account size is increased by 50% of the original balance.
- Example: If a trader starts with a $100,000 account and generates a 25% profit, the account size is increased to $150,000.
Subsequent Profit Milestones: Each time the trader achieves another 25% profit on their new account balance, the account size increases by an additional 50%.
- Second Example: From the new $150,000 account, generating another 25% profit raises the account to $200,000.
- Third Example: A further 25% profit from the $200,000 account increases it to $250,000.
Continued Growth: This pattern continues, allowing for potentially limitless growth based on the trader's continued success in reaching each new profit target.
This scaling mechanism is a compelling aspect of the Fast Funding program, providing traders not only with the motivation to excel but also with the means to significantly expand their trading capabilities and financial potential. The structure is designed to support and encourage high performers, facilitating a progressive pathway for traders who consistently demonstrate the ability to generate substantial profits.
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Direct Funded Trader Review and Our opinion about this Prop Firm
In conclusion, Direct Funded Trader stands out as a reputable and dependable proprietary trading firm, offering two distinct funding programs tailored to diverse trader needs: the Evaluation Program and Fast Funding.
- Evaluation Program: Direct Funded Trader’s Evaluation Program is a thorough two-step evaluation designed to gauge and prepare traders for managing significant accounts. It requires successful completion of two phases with realistic profit targets of 8% in the first phase and 5% in the second. This program enforces a 5% maximum daily loss and a 10% maximum overall loss to promote disciplined trading practices. Importantly, there are no maximum trading day restrictions, but a minimum of five trading days is necessary in each phase to advance. The inclusion of a scaling plan offers the potential for increasing the initial account balance, enhancing the growth opportunities for successful traders.
- Fast Funding: Conversely, the Fast Funding program provides a streamlined one-step evaluation pathway. Traders need to achieve a 10% profit target under the constraints of a 4% maximum daily loss and a 7% maximum overall loss. Similar to the Evaluation Program, there is no cap on the number of trading days, though a minimum of five days is required for evaluation. The scaling plan in Fast Funding also allows traders to progressively increase their account balance based on their trading success, promoting continuous development and motivation.
Direct Funded Trader caters to a broad range of trading styles with features like an unlimited trading period, $3 cashback per lot traded during the evaluation, and bi-weekly withdrawals, making it highly appealing within the proprietary trading industry. For individuals seeking a supportive and growth-oriented trading environment, Direct Funded Trader is undoubtedly a top choice, providing the tools and opportunities necessary for achieving substantial success in the competitive world of trading.
