It is important to take note of Brightfunded supported and restricted countries, especially for traders looking to join the prop firm. BrightFunded is a prop trading firm that aims to connect retail traders worldwide with opportunities to showcase their skills and potentially earn profits through funded programs. Operating out of the Netherlands and led by CEO Jelle Dijkstra, BrightFunded distinguishes itself with a prop trading platform designed to provide a tailored experience for its clients. This article explores BrightFundedās accessibility, detailing brightfunded supported and restricted countries, platform specifics, and essential information for prospective traders.
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Overview of BrightFunded
BrightFunded caters to both aspiring and experienced traders, providing opportunities regardless of previous trading experience. The firm offers account sizes ranging from $10,000 to $200,000. BrightFunded utilizes a two-step evaluation process. The two-step evaluation process includes profit targets of 8% in Phase 1 and 5% in Phase 2, presenting clear goals for traders. A maximum total drawdown of 10% is implemented across all account sizes. BrightFunded also offers a Trade2Earn program to reward trader activity.
The is operated by Bright Global FZCO, which is registered in Dubai Digital Park, Dubai Silicon Oasis, Dubai.
Brightfunded Supported Countries
BrightFunded generally caters to retail traders worldwide. ItĀ accepts US traders. To join BrightFunded, all clients must be at least 18 years old.
Brightfunded Restricted Countries
Regarding brightfunded supported countries BrightFunded does not provide services to individuals either in or from the following countries:
- Belarus
- Cuba
- Iran
- Myanmar
- North Korea
- Russia
- Sudan
- Syria
- Ukraine (specifically the regions of Crimea, Sevastopol, Donetsk, Kherson, Luhansk, and Zaporizhzhia)
- Vietnam
These restrictions are due to international sanctions. BrightFunded implements specific restrictions on its services to comply with international sanctions. These actions are required to align with business interests while offering a reliable and rewarding trading experience.
BrightFunded also does not provide services to those who appear on sanction lists, those with criminal histories involving financial crimes or terrorism, and those who have previously been banned due to contract violations.
Evaluation Process
BrightFunded employs a two-step evaluation process with clear goals for traders:
- Phase 1: Achieve a profit target of 8%.
- Phase 2: Achieve a profit target of 5%.
Across all account sizes, a maximum total drawdown of 10% is allowed, promoting risk-aware trading practices.
Trading Platform and Instruments
BrightFunded does not use third-party platforms like MT4 or MT5. Instead, BrightFunded utilizes its own proprietary trading platform to create a tailored trading experience. BrightFunded uses a Datafeed provider to focus on real-time market data accuracy.
Traders can access instruments including cryptocurrencies, forex currency pairs, diverse Indices, commodities and global stocks. The platformās leverage options include 1:100 for forex, 1:40 for Gold & Commodities, and 1:20 for Indices.
Payouts
BrightFunded supports direct Crypto payouts via USDC, instantly received in the traderās wallet. BrightFunded also supports Bank Transfer payouts.
Advantages of BrightFunded
- Accepts US traders.
- Provides a proprietary trading platform.
- Offers direct Crypto payouts.
- Provides traders with a wide array of instruments, including cryptocurrencies, forex currency pairs, diverse Indices, commodities and global stocks.
- Offers a Trade2Earn program to reward trader activity.
Disadvantages of BrightFunded
- Slippage may be more compared to other firms.
- News trading is restricted with a 4-minute break window.
- Restricts services to individuals from specific countries.
Conclusion
BrightFunded offers a global platform for traders to showcase their skills and potentially access funded accounts. While the firm supports traders from various backgrounds and experience levels, it restricts access from specific countries due to international sanctions and compliance requirements. BrightFunded provides traders with a proprietary platform, a range of instruments, and a two-phase evaluation process. For traders in eligible countries, BrightFunded provides a pathway to demonstrate their trading skills and potentially earn profits through funded programs.
Frequently Asked Questions
Why Do BrightFunded Restrict Certain Countries?
- Restrictions are primarily due to regulatory compliance issues and legal standards that prevent foreign financial services firms from operating within certain jurisdictions.
How Can I Verify If My Country Is Supported By BrightFunded?
- You can check your eligibility by visiting brightfunded official website or reviewing their terms of service for the most current list of supported and restricted countries.
What Should I Do If My Country Is Restricted?
- If your country is on the restricted list, consider exploring other proprietary trading firms that may offer similar opportunities without geographical limitations.
