FundedFast is a relatively new proprietary trading firm, aiming to stand out in this highly competitive market by providing traders with an affordable and transparent option with more trader-friendly rules.
Our review will examine its features in full, and determine if and how well the company succeeds in its mission.
Trade with up to $400,000 in capital.
Fortunly Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
- Entry fee refunded with first payout
- No challenge time limits
- Six asset classes available from one account
- Weekend holding permitted
- Bi-weekly competitions
- No lot-size limits
- Accepts US traders
- Scaling is limited to the 2-phase model
FundedFast Overview
Launched in 2024, FundedFast is a Malta-based prop trading firm operated by Memento Enterprises Limited.
The company uses simulated capital in its evaluations and funded accounts, and does not operate as a broker or facilitates trading in real financial instruments, which is on par with a lot of similar firms.
Where FundedFast does clearly stand out is in its commitment to provide a trader-friendly environment, as it refunds the original entry fee after the first successful payout, and features no additional fees you’d find with a lot of other platforms we’ve reviewed in the past.
Pricing & Challenge Plans
The evaluation path setup here is something that anyone who had previous experience with proprietary trading firms will find rather familiar.
FundedFast currently features two challenge plans.
The 2-Phase challenge is the cheaper and somewhat easier option, as is the norm with these two-plan setups.
It features the lowest starting price point, as the $5,000 account costs just $49. The largest $400,000 plan, on the other hand, has a one-time fee cost of $1,799.
The first phase profit target is set at 8%, and when you reach the second phase, this target is dropped to 5%.
You also have to stay below 5% daily and 10% total loss limits. Leverage on forex majors and minors is 1:100 throughout the 2-Phase challenge and on the funded account, while the 1-Phase challenge is capped at 1:50.
Exotic pairs are capped at 1:50 leverage regardless of the evaluation model, while crypto is capped at 1:20.
The maximum drawdown is static rather than trailing, meaning it stays anchored to the original account balance instead of moving higher as the account becomes profitable.
There are three minimum trading days in each phase, but importantly, neither stage has a maximum number of trading days.
The 1-Phase challenge provides the faster road to funding, but comes with slightly more challenging rules.
The daily loss limit and maximum overall loss is the same as with the two-phase plan, but the profit target is raised to 10%.
The account sizes here range from $3,000 to $400,000. All entry fees are one-time only, and range from $99 for the smallest account, up to $2,999 for the largest account option.
FundedFast also features a few interesting add-ons. For example, you can pay to have your profit split go from the standard 80% to 90%, and you can also increase the maximum loss limit to 20%, but keep in mind that this option is only available to accounts of at least $50,000 in the 1-phase plan, or $100,000 in the 2-phase plan.
That gives more experienced traders an unusually large loss cushion, although these upgrades naturally increase the initial challenge cost.
Trading Instruments and Platforms
FundedFast features a solid selection of instruments to choose from, and allows you to trade in all of the asset classes from the same account.
The main offering here are more than 50 major, minor and exotic Forex currency pairs, but there is also a nice selection of U.S. and EU stocks, cryptocurrencies like Bitcoin and Ethereum, as well as indices, metals and energy products such as oil and natural gas.
MatchTrader is the only trading platform available as of the time of writing of this review, and is available through web, desktop and the company’s native mobile apps for both iOS and Android devices.
While some other firms feature a stronger selection of trading platforms, MatchTrader is a natural choice for FundedFast, as the company prohibits EAs, bots, and copy trading, which is what platforms like cTrader or MetaTrader 5 are more suited for.
MatchTrader also has TradingView charts built directly into the interface, which is a clear advantage and makes for a more accessible trading environment.
FundedFast also provides several free trading tools, including position-size, lot-size, drawdown, and compounding calculators, alongside an economic calendar and market-hours tracker.
Trading Competitions
FundedFast also runs two recurring trading competitions on a $100k virtual account.
The Open competition runs every two weeks, and is completely free to enter, with top three traders receiving $25, $20 and $15 respectively, while all other participants receive a discount for a future FundedFast challenge.
The Masters is the paid version of the competition, with a $49 entry fee, but we must note that if you purchased a challenge within the previous 30 days, you can enter this competition for free. The rewards for the top three traders here are $500, $300 and $200.
Payments & Withdrawals
The selection of payment methods is pretty solid here as well, with FundedFast accepting payments via Visa, Mastercard, PayPal, crypto or bank transfers.
As we stated earlier, you pay only a one-time fee, and the company highlights that it does not charge any recurring subscription charges, or additional fees. What’s more, it will automatically refund you your challenge fee on a successfully passed evaluation.
When it comes to withdrawals, you can request them every seven days, but keep in mind that at least five trading days must pass between payout requests.
Withdrawals are available through bank transfer, cryptocurrency wallets and PayPal, and the processing can take up to five days, depending on your chosen method.
FundedFast also features no minimum profit threshold or profit buffer that has to remain in your account before you make your first withdrawal.
Prohibited Trading Strategies
We mentioned that FundedFast doesn’t allow for Expert Advisors, bots and automated trading, so each trade you make has to be initiated manually.
However, the firm also prohibits several other strategies, so it’s important to keep in mind if you’re one of the traders that usually relies on algorithmic or automated trading.
For starters, copy trading is prohibited here as well, no matter if you copy positions from another FundedFast user or account or from an external trading provider.
Latency arbitrage, martingale strategy and reverse martingale trades are also not allowed, along with grid trading and cross-account hedging.
Also keep in mind that you can be flagged for scalping if you open and close trades in under 15 seconds.
Customer Experience & Support
FundedFast really shines in terms of the overall user experience, as the company’s website is easily one of its strongest suits.
It is not only well designed so you can easily find all the important information, but the firm is also highly transparent with its rules, and features a fantastic help center with detailed blog articles and trading guides, a rich FAQ section, free tools like calculators and supports a variety of languages.
FundedFast also provides customer support through live chat, email, phone or through its Discord channel, and support itself is offered in eight different languages.
The company accepts traders from most countries in the world, and does accept US residents, but there are 40 restricted jurisdictions, so it’s best to check that list regardless of the region you reside in.
The user sentiment about the company is positive as well, so even though this is a relatively new firm and there aren’t that many customer testimonials out there yet, FundedFast currently holds a solid 4.3 out of 5 rating on Trustpilot, with the majority of users praising the ease of use, the promotions that the company often offers and the overall quality of its customer service.
Our Verdict
All in all, FundedFast has done a good job of creating an affordable and relatively straightforward prop trading offering.
With low entry prices, high account sizes and transparent rules, along with its fantastic website that is chock full of valuable information and tools, it represents a compelling option for beginner and experienced traders alike.