Launched in January 2023, FX2 Funding is one of the newest and most innovative prop trading firms on the market today. The company was built around providing the simplest and most flexible funding trading solution available to forex traders and investors, with the principal idea being that providing users with more freedom will lead to greater successes in the long run.
Our detailed review of FX2 Funding will explore how this approach works in practice and how the newcomer in the prop trading market fares against the more established competitors.
Trade with up to $200,000 account balance.
- One-stage evaluation process
- No time limit
- No stop loss required
- High profit share
- Scaling plan
- Different account sizes
- 24/7 customer support
- Allows weekend positions
- No CFD trading available
What Is FX2 Funding?
FX2 Funding is a US-based company that partners with the licensed Australian broker Eightcap for its servers and was built from the ground up with the idea of providing a novel, "value-adding" service to traders and investors in the forex industry. The way that FX2 chose to stand out from the competition is in the amount of freedom it allows users to trade with. FX2 Funding has greatly simplified the registration and evaluation rules, moved away from stop-loss restrictions, and decided to allow all trading strategies and weekend positions.
How FX2 Funding Works
As we stated earlier, FX2 wants to be the most user-friendly prop trading firm on the market, and one of the main ways it accomplishes this is in its streamlined approach to funding and evaluation. The company offers five account types to choose from, ranging from $10,000 to $200,000 in live funded capital, all with a profit split of up to 85%.
You will immediately notice a lack of a demo account at FX2 Funding, which is another way this prop firm is shifting away from the market standards, as it provides real money to all traders, out of a basic company principle of not rooting against its users.
After you’ve selected your account type, the following evaluation process will also be something quite different from what you might have become used to. While most companies usually feature a multi-step journey, FX2 Funding opts for a one-stage evaluation process with a refundable evaluation fee starting from $95.
All you need to do to get funded is to gain a 10% profit on the account balance, while not violating any of the three trading rules that the company has set. You cannot incur a 6% drawdown on the total account size or a 4% drawdown in a single day, and your account must not remain inactive for 30 days or more. That’s it.
Other than these three simple rules, traders are allowed to trade at their own pace, without time limits or set minimum trading days. Once you’ve reached a 10% gain on your account and become an approved live trader, you can scale up your account by withdrawing your percentage of the profits, after which FX2 will increase your original account size by 10%. This process can be repeated multiple times, up to the set limit of $1,000,000.
FX2 Trading Options and Rules
FX2 Funding currently allows trading in Forex, indices, and cryptocurrencies. The amount of leverage you can trade with is 100:1 on Forex pairs, 1:5 on indices, and 1:2 on crypto pairs. Traders are allowed to trade on all news events and are permitted to use scripts, scalping, indicators, EAs, and copy traders to generate profits.
However, keep in mind that malicious practices like taking advantage of latency and arbitrage pricing are strictly prohibited, along with the use of high-frequency trading bots. FX2 also reserves the right to review all EAs before funding an account.
All traders are eligible for a payout 7 days after being funded, and further payouts become available every 14 days after that. All payments are processed through Deel.com, which will require you to create an account there as well. Once registered, you can receive payouts via a number of ways, including bank transfers, PayPal, Payoneer, Revolut, Wise, Coinbase, and Binance.
How FX2 Funding Compares to Other Prop Firms
Forex, Cryptocurrencies, Indices
Up to 85%
100% on first $10,000 and then 90%
Forex, Cryptocurrencies, Commodities, Indices, Metals and Stocks
Up to 90%
FX2 Funding Customer Support
FX2 Funding has a great support system in place, as it not only provides 24/7 customer service through email, WhatsApp live chat, or phone call but also has a dedicated support provider assigned to each funded trader. This ensures a better and more personalized experience for funded users, as you’ll always be in contact with the same agent who’s well aware of your history with FX2.
Aside from live customer support, the company also features a rich resource library through the FX2 academy, which is chock-full of educational materials, white papers, webinars, and more, making it a great place to expand and augment your knowledge.
Is FX2 Funding Legit?
FX2 is one of the newest prop firms on the market, and the amount of customer feedback is still relatively small compared to some of the industry’s giants. It also doesn’t list any licensing information, meaning it is currently not regulated. However, the company holds a largely positive 4.2-star rating on TrustPilot, based on 53 reviews as of the writing of this review, indicating that the customers are overall satisfied with the service.
All in all, FX2 Funding represents one of the most exciting new prop trading platforms we’ve come across in 2023. With its all-around user-friendly approach, excellent customer support structure, and wealth of educational resources, it is worth checking out, especially if you are a highly skilled but undercapitalized trader.
Can I lose my FX2 Funding live funding account?
Yes, you can lose your funding account if you remain inactive on your account for 30 days or more or if you fall below the daily and maximum drawdown limits.
Does FX2 refund evaluations?
Your evaluation fee with FX2 Funding becomes refundable after you’ve made your first payout, after which the initial evaluation fee will be reimbursed and added to your payout amount.