What to Know About The Funded Trader Competitions
A successful trader’s biggest strengths are resilience and taking on challenges. But simulated trading can also be risky, especially for beginners. If you’re considering joining a prop simulated trading firm, The Funded Trader (TFT) competitions are an excellent way to ease into simulated trading with little commitment.
Along the way, you’ll discover your simulated trading mindset, which can help you decide whether simulated trading is right for you. For instance, can you execute trades with precision and focus? How well do you follow your strategy? Our competitions let you test yourself, practice, grow, and win free access to our challenges.
The Funded Trader puts traders in a competitive environment to see who can grow their account the most. Here’s everything you need to know about TFT competitions.
How to Join The Funded Trader’s Competitions
The Funded Trader competitions are free monthly challenges anyone can join. They test your knowledge and expertise in foreign exchange (forex) trading. Competitions are a great way for beginners to improve their skills and strategies, but no experience is needed. Winners receive exciting prizes, including access to a free challenge account.
Competitions start on the first day of each month and end on the last day of each month. To be eligible to participate, you must register for the competition before the month starts.
It’s easy to sign up. First, check the upcoming competitions. You’ll need to create a free account to access the Trade Hub, where competitions are listed. This is also where you can find competition rules, standings, and prize information, as well as upcoming, ongoing, and completed competitions. You’ll register for a competition here, too.
You can also join TFT’s official Discord account. Go to the “Rules” section on our Discord channel and carefully read all the rules. Then, click on the “Manual Verification” tab and press “Verify Me!” Now, you’ll be able to participate in discussions with fellow traders and get more details about upcoming competitions.
Rules of the Competitions
Anyone can participate in The Funded Trader competitions. To be eligible to win, you must take part in at least five simulated trading days and adhere to these rules:
- The participant can only join with one registered account. If more than one account is registered by the same person, they will be disqualified from the competition immediately.
- The daily drawdown is based on either the account balance or equity, whichever is greater when the day changes.
- The daily drawdown amount is always 5% when the challenge starts. For a $100,000 account, the daily drawdown will deduct $5,000 from the balance or equity.
- The challenge’s leverage is similar to The Funded Trader’s Standard Challenge.
- The maximum total drawdown is 10%, and you must trade a minimum of five simulated trading days to become eligible to win.
- Expert advisors are not allowed.
- You should not take advantage of unrealistic fills in the demo environment.
- All instruments have five maximum position limits. Lot sizes are limited to five lots for forex, one for indices, and one for commodities.
If your account hasn’t been active for more than 14 days, it will be considered expired and disqualified from the competition. If disqualified, you will be unable to participate in the current competition. However, there is no restriction on taking part in successive competitions.
Prizes for the Winners
The Funded Trader rewards the top 50 profitable traders. Prizes typically include free access to a simulated trading challenge, as well as cash prizes in varying amounts and gift codes. The higher you rank, the more you win. For instance, our December competition winner received $6,000 in cash and a free $300,000 challenge account.
To keep the competitions interesting, prizes vary from month to month. For example, for March 2023, The Funded Trader is offering prizes to the top 50 competition traders:
- 1st place prize: $2,000 in cash and access to the $300,000 Royal Challenge
- 2nd place prize: $1,000 in cash and access to the $200,000 Royal Challenge
- 3rd place prize: A $500 cash prize and access to the $100,000 Royal Challenge
- 4th–15th place: Free access to the $50,000 Royal Challenge
- 16th–30th place: Free access to the $25,000 Standard Challenge
- 31st–50th place: Free access to the $10,000 Standard Challenge
Be sure to look at the prizes before entering the competition. Once the competition is complete, our Risk Team analyzes the top 50 traders, and the winners are announced in our Discord community. The first-place winner will be notified via email from The Funded Trader team.
How You As a Trader Benefit from Participating in TFT Competitions
Trading requires skill and practice. So, the more you participate, the more you’ll improve and grow as a trader. In fact, many of our traders experience exponential growth as they experiment with different simulated trading strategies in our competitions and discover the methods that work best for them.
To further help beginners, we publish all trades the winners make. You can then study them on the competition dashboard and analyze their simulated trading patterns.
The Funded Trader’s free competitions happen every month, and we welcome you to join as many as you wish. You can win a free challenge account by participating and finishing among the highest-ranking traders. This will bring you one step closer to winning a funded account with a reputable prop firm that pays one of the highest virtual profit splits in the industry.
Ready for the next competition? Learn more about The Funded Trader and join the next competition now.