Funded Engineer Review – $5,250 Payout & Withdrawal Experience

The allure of prop firm funding is undeniable. The chance to trade with substantial capital and keep a significant share of the profits is a dream for many aspiring traders. But are these firms all they’re cracked up to be?

FundedEngineer has been making waves with its funding programs and profit-sharing model. However, before you jump in, it’s crucial to get an honest assessment. That’s why I decided to put FundedEngineer to the test.

Now, with real-world experience under my belt, I’m here to share a comprehensive and unbiased review of FundedEngineer. We’ll delve into the challenges, platform functionality, profit-sharing structure, and most importantly, answer the question: is FundedEngineer a legitimate path to prop trading success?

Tradable Instruments

Funded Engineer is a proprietary trading firm with a focus on trading various financial instruments, including:

• Forex: This refers to the foreign exchange market, where currencies are traded.
• Commodities: These are raw materials or primary products that can be bought and sold, such as gold, oil, or agricultural products.
• Indices: This typically refers to stock market indices, which represent a specific segment of the financial market, such as the S&P 500 or Dow Jones Industrial Average.
• Cryptocurrencies: Digital or virtual currencies, like Bitcoin and Ethereum, that use cryptography for security and operate on decentralized networks.

Now, let’s discuss the major topic that everyone is thinking about – cryptocurrency. In a world dominated by digital assets, Funded Engineer recognizes the importance of including cryptocurrencies in its arsenal. Whether you’re a Bitcoin enthusiast or an altcoin, this platform opens up a world of possibilities. The crypto integration is not just a feature; it’s a testament to Funded Engineer’s commitment to staying ahead of the curve.

Spreads & Fees

Funded Engineer’s spreads are tight enough to squeeze through a porthole. They can widen during stormy market conditions, leaving you feeling like you just got caught in a financial squall.

• EURUSD: 0.3 pips
• GBPUSD: 0.6 pips
• EURGBP: 0.6 pips
• USDJPY: 0.5 pips

They’re like those pesky barnacles clinging to your hull.

Lot Commissions are low, but watch out for those pesky swaps lurking in overnight positions. They can bite harder than a shark if you’re not paying attention.

• FX & Gold : $5 USD per lot
• Indices and crypto : Zero 🤩

Brokers

They’ve handpicked not just any brokers, but industry titan Purple Trading, your gateway to a smoother, more satisfying trading experience.

Unbiased Transparency

In the realm of online trading, transparency is key. Funded Engineer takes pride in being a beacon of unbiased information. No hidden fees, no deceptive tactics–just a straightforward approach to empower its users. The transparency extends beyond the platform itself; user reviews are a testament to the authenticity of the Funded Engineer experience.

Profit Payouts That Turn Heads

Let’s talk about the real deal–profits. One of the defining factors of any trading platform is its payout structure. Funded Engineer, true to its name, doesn’t just aim to fund your account; it aims to fuel your success. The profit payouts are not just numbers on a screen; they’re a reflection of your trading prowess and the platform’s commitment to rewarding its users.

In Funded Engineer’s case, offering a profit share of up to 90% means that once you are “funded” (meaning you have successfully passed their evaluation and are trading with real capital), you keep a very significant portion of the profits you generate.

Here’s how it could work:

• Scenario 1: You generate a $10,000 profit for Funded Engineer. With a 90% profit share, you would keep $9,000 and Funded Engineer would keep $1,000.
• Scenario 2: You generate a $5,000 loss for Funded Engineer. You wouldn’t be personally liable for the loss, but your account balance would decrease by $5,000.

Important things to consider:

• Reaching the 90% profit share may be challenging. Often, prop firms have tiered profit-sharing structures. For example, you might start with a lower share (e.g., 70%) and then climb to higher percentages as you consistently show profitability.
• Performance fees, or other charges, might apply. While you keep much of the profits, Funded Engineer might still have other fees or charges, such as evaluation fees, account management fees, or performance-based fees.
• High risk, high reward. Prop trading inherently carries significant risk. While the potential for large profits is appealing, it’s important to understand the potential for losses as well.

Legit or Scam? Let’s Unravel the Mystery.

The internet is rife with tales of scams and fraudulent schemes. But fear not, as we unravel the mystery surrounding the Funded Engineer’s legitimacy. The platform stands tall in the crowded space of Prop Firms, with a track record that speaks volumes. It’s not just legit; it’s a significant change for those who dare to dream big in the trading arena.

Funded Engineer’s withdrawal options offer some benefits like early access and flexible methods, but also have limitations like position restrictions and account freeze. Carefully consider these factors, especially if you have specific trading styles or withdrawal needs, before committing to their prop firm program.

FundedEngineer Vs Top Alternatives

Here’s a comparison table to help you decide which prop firm is the right fit for you:

Pros

• Instant account access.
• No Minimum Trading Days.
• Hold Trades Over The Weekend.
• Receive payouts within 48 hours.
• They provide you with a large amount of capital to trade with.
• They have a unique dashboard & scaling plans that works well.
• They have a team of support who are very helpful and knowledgeable.
• They have a reasonable profit split, low fees and No time limits.
• Harri Sawicki and Tristan Talbot‘s credibility: their experience as a funded traders themselves lends confidence to the firm’s approach. This shows understanding of the challenges and potential of prop trading.
• High Trustpilot rating: A 4.7-star rating suggests positive experiences from a significant number of users. This shows potential legitimacy and satisfaction among traders.
• Reportedly large payouts: Claims of substantial payouts to funded traders are enticing, although details and verification are crucial. This suggests potential profitability for skilled traders.

Cons

• They have a strict maximum drawdown limit that can be stressful.
• They don’t allow trading stocks, options and futures.
• No Free trials.
• Restrictions on open positions: The requirement to close all positions before withdrawal can be inconvenient for active traders and potentially lock in profits or losses prematurely.
• Account freeze during withdrawals: Placing the account on read-only mode while processing withdrawals disrupts active trading strategies and could frustrate for fast-paced traders.
• Limited withdrawal methods: While Deel and crypto cover some preferences, options like Wise, PayPal, Payoneer, Local bank transfers might be missing for others.

My Personal Experience

What’s a review without the voices of those who have walked the path before you? Prop Firm’s user reviews are a symphony of success stories. Each testimonial adds a layer of authenticity to the platform’s credibility.

It’s not just about numbers; it’s about the community of traders who have found a home in the world of Funded Engineer.

I joined Funded Engineer about two months ago, after passing their evaluation phase. The evaluation phase comprises trading with a demo account, and meeting certain criteria such as profit target, maximum drawdown. The evaluation phase costs $575 “without promotional discount coupon”, which is refunded if you pass. I found the evaluation phase to be challenging but fair, and I learned a lot this period.

After passing the evaluation phase, they funded me with $100,000 to trade with. The profit split is 80/20, meaning I get to keep 80% off the profits I make, and they get 20%. If the account balance decreases by over 10%, they will disqualify me from the program because the maximum drawdown is 10%. To stay in the program.

So far, I have been trading with Funded Engineer for two months, and I have made a total profit of $7,500. That means I get to keep $6000, and they get $1500. Not bad for two months of work, right?. Of course, there were some difficulties along the way, and some days were better than others. But overall, I am thrilled with my performance and the support I received from Funded Engineer.

The Final Verdict

In conclusion, Funded Engineer is a prop firm I would recommend to anyone who is interested in trading and has some experience in the financial markets. They provide you with a lot of capital and a supportive team. However, they also have some rules and restrictions that you need to follow and respect. If you are looking for more freedom and variety in your trading, Funded Engineer may not be the best fit for you.

But before you raise the Jolly Roger, heed these warnings:

• Prop trading is high-risk, high-reward. Don’t invest more than you can afford to lose, and be prepared for choppy waters and potential losses.
• Do your research! Funded Engineer isn’t the only prop firm out there. Compare fees, evaluation criteria, and user reviews before setting sail.
• Manage your expectations. Getting funded is no walk in the park. Be patient, hone your skills, and don’t get discouraged by setbacks.