It is important to take note of funded trading plus supported and restricted countries, especially for traders looking to join the prop firm. Funded Trading Plus which is legally known as FTP London Ltd, is a prop firm (proprietary trading firm) registered in the United Kingdom. FTP is led by CEO Simon Massey, the firm provides traders with an opportunity to access large capital and trade a variety of financial instruments. These financial instruments consist of Forex, Crypto, Indices, and Commodities. Funded Trading Plus offers industry-standard trading platforms which includes; MatchTrader, cTrader, and DXTrade, with two years of trading experience in the prop trading sector. This article will delve into Funded Trading Plus supported and restricted countries, shedding light on its global reach, operational details, and compliance considerations.
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Overview of Funded Trading Plus
Funded Trading Plus offers diverse challenge types, such as; One Phase, Two Phase, and Master Trader Program. They provide a maximum allocation of $400,000, with a scaling potential that is capable of reaching up to $2,500,000. Traders can access various account sizes beginning from $5,000 to $200,000. The firm offers varying evaluation options such as; Instant, 1-step, and 2-step evaluations in an attempt to cater for various trader preferences.
Profit targets vary with the evaluation type. The 1-step evaluation sets its profit target at 10%, while the 2-step evaluation has a progression of 8% in Phase 1 followed by 5% in Phase 2. The maximum total drawdown ranges between 6% and 10%, depending on the chosen challenge. The firm accommodates varied risk preferences with leverage of 1:30 for Forex pairs and commodities, 1:20 for indices, and 1:2 for cryptocurrency trading.
The Funded Trading Plus is located at 7 Bell Yard, London, England, WC2A 2JR.Ā
Funded Trading Plus Evaluation Process
Funded Trading Plus offers different evaluation kinds to suit various trading styles, preference and experience levels. The various evaluation processes includes:
- One-Phase Challenge: This challenge type requires traders to meet a specific profit target in a single phase to qualify for a funded account.
- Two-Phase Challenge: This challenge involves two phases, each of them has its own profit target. Traders must complete both phases successfully to get funded.
- Master Trader Program: This program is designed for professional traders and may likely have more stringent requirements.
If an evaluation is failed, account resets are available which are subject to a reset fee.
Funded Trading Plus Supported Countries
It is accessible to numerous countries worldwide, including those in North America, Europe, Asia, and Africa.
- North America: The firm is accessible in the United States and Canada.
- Europe: Funded Trading Plus is accessible in the United Kingdom, Germany, Spain, and France.
- Asia: The firm is accessible in India, Singapore, and Hong Kong.
- Australia: A thriving trading community in Australia can access Funded Trading Plus.
- Africa: Funded Trading Plus is becoming more prevalent in South Africa and Nigeria.
Funded Trading Plus Restricted Countries
The Funded Trading Plus adheres to international sanctions and restricts services to traders from some certain countries. Funded trading plus restricted countries includes:
- Cuba
- Iran
- North Korea
- Myanmar
- Syria
Traders from these countries are advised not to place any orders, as refunds and fund transfers cannot be guaranteed.
Reasons for Restrictions
The reasons for these restrictions are primarily due to compliance with international sanctions and regulatory policies. These restrictions are put in place to prevent:
- Violation of international sanctions imposed by various regulatory bodies.
- The risk of facilitating illicit financial activities, such as money laundering.
- Operational challenges in complying with the financial regulations of specific countries.
Trading Platforms and Instruments
Funded Trading Plus supports trading on MatchTrader, cTrader, and DXTrade platforms. These platforms provide traders with a wide array of trading tools. The firm offers a variety of trading instruments, including Forex, Crypto, Indices, and Commodities. Forex pairs include EURUSD and EURZAR, Indices include SPX500 and VIX, precious metals traders have access to Gold, Silver, and Platinum, and Cryptocurrency features popular digital currencies like Bitcoin and Ethereum.
Risk Management and Trading Rules
Funded Trading Plus emphasizes risk management and strictly prohibits toxic trading practices such as arbitrage. The firm reserves the right to ban accounts that do not demonstrate proper risk management. Traders reaching the profit target will undergo a risk management assessment before receiving a funded account.
Key Risk Management Concepts:
- Relative Drawdown: Traders should understand relative drawdown, which represents the distance between the accountās high water-mark and the maximum drawdown level.
- Toxic Trading: Funded Trading Plus strictly prohibits toxic trading practices, such as arbitrage.
Copy trading from one of your accounts to a Funded Trading Plus account is allowed; however, copying trades across multiple FT+ accounts is prohibited. Only one live account is provided per strategy, defined by taking the same trades on the same market at very similar times.
Scaling Program
Funded Trading Plus offers a scaling program that allows traders to increase their account size based on profits. The maximum scaled account size is $2,500,000. Traders must meet specific profit targets before scaling up and should carefully manage their withdrawals to maintain trading flexibility.
Conclusion
Funded Trading Plus is a prop firm that offers traders opportunities to access capital and trade various financial instruments. While the firm supports traders from many countries across North America, Europe, Asia, and Africa, it restricts access from Cuba, Iran, North Korea, Myanmar, and Syria. These restrictions are due to compliance with international sanctions and regulatory policies. Funded Trading Plus emphasizes risk management and offers industry-standard trading platforms. With its scaling program and diverse trading instruments, Funded Trading Plus provides a comprehensive environment for traders looking to enhance their trading careers.
Frequently Asked Questions
Why Does Funded Trader Plus 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 Funded Trader Plus?
- You can check your eligibility by visiting Funded trader plus 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.
