AquaFunded review
AquaFunded is a Dubai-based prop trading firm launched in December 2023 by CEO Jason Blax, registered as AquaFunded FZCO in the Dubai Silicon Oasis free zone. It sells one-, two- and three-step Challenge evaluations plus an instant-funding "Aqua Trader" track, on simulated accounts from roughly $2,500 up to $200,000-$400,000 that can scale toward several million dollars, across forex, crypto and (via a separate futures site) futures markets on MetaTrader 5, cTrader, TradeLocker and Match-Trader. Profit splits start around 90% and can reach 100% with an add-on, with payouts roughly every two weeks and 48-hour processing. As with the rest of the category, AquaFunded is not a regulated broker and trades in simulated environments; one third-party reviewer also reports its execution is routed through partner broker ThinkMarkets. Its Trustpilot record is polarized, with a meaningful share of one-star reviews citing payout denials.
AquaFunded key facts
- Website: aquafunded.com
- Category: Prop trading firm
- Founded: 2023
- Headquarters: Dubai, UAE
- Model: 1-, 2- or 3-step Challenge, or Aqua Trader instant funding
- Account sizes: $2.5K–$200K (scaling to $2M+)
- Profit split: 90%, up to 100% with add-on
- Payouts: ~14-day cycle, 48-hour processing
- CEO: Jason Blax
- FYI Score: 85.6/100 (ranked #14 of the 63 prop trading firms we track)
Rules and risk
- Drawdown structure varies by track: One-Step uses a 3% daily / 6% trailing drawdown, Two-Step a 5% daily / 10% static drawdown, and the Aqua Trader instant-funding route a 3% daily / 3-6% static drawdown with a 20% consistency rule.
- Leverage is capped at 1:100. Accounts are simulated evaluation and funded environments rather than live brokerage accounts.
- Not financially regulated; one third-party reviewer (propfirmscompared.com) reports that trade execution is routed through partner broker ThinkMarkets, though the accounts themselves remain simulated.
- Reported rule friction includes disputed news-trading restrictions and payout reviews triggered by shared or mobile IP addresses, per third-party trackers.
Payouts and scaling
- Profit splits start around 90% by default with an optional add-on that raises the split toward 100%.
- Payouts run roughly every two weeks with a 48-hour processing guarantee; the instant-funding track supports on-demand requests.
- Company-reported figures at the time of writing: $6-7 million paid out across roughly 2,000+ transactions, with an average payout near $2,500-2,700 — self-reported, not independently audited.
- Funded balances can scale toward $2 million or more of simulated capital after sustained performance, with a 25% account-increase bonus reported for hitting a 12%-in-3-months milestone.
AquaFunded evaluation challenges
| Challenge | Steps | Profit target | Max drawdown | Profit split | Price |
|---|
| One-Step Challenge | 1-step | 9% | 6% | 90% | from $67 · $5K–$200K |
| Two-Step Challenge | 2-step | 8% | 10% | 90% | from $36 · $5K–$200K |
| Three-Step Challenge | 3-step | 8% | 8% | 90% | from $77 · $5K–$200K |
| Aqua Trader (Instant Funding) | — | — | 6% | 90% | from $117 · $5K–$200K (scales to $400K) |
Markets
Forex, Crypto, Indices, Metals, Commodities, Futures
Platforms
MetaTrader 5, cTrader, TradeLocker, Match-Trader
Who AquaFunded is for
A workable option for an active forex or crypto trader who wants a choice of evaluation styles, a high headline split and frequent promotional pricing, and who accepts the risk of an unregulated, simulated environment. The mixed Trustpilot record — especially around payout denials — means traders should read the fine print on IP/device rules and consistency requirements before funding an account.
Pros
- Wide range of programs — one-, two- and three-step Challenges plus Aqua Trader instant funding — across four established platforms (MetaTrader 5, cTrader, TradeLocker, Match-Trader).
- High headline profit split: 90% by default with a 100% add-on, and a 48-hour payout processing guarantee.
- Large account-size ceiling, scaling toward several million dollars of simulated capital, and a sizable review base (1,400+ Trustpilot reviews).
- $6 million+ in reported trader payouts since its December 2023 launch, with consistent payout activity reported since mid-2025.
Cons
- Not regulated: accounts are simulated, and one third-party reviewer reports execution is routed through partner broker ThinkMarkets rather than AquaFunded holding its own licence.
- Polarized Trustpilot record — roughly 3.0/5 with about 27% one-star reviews, a number of which cite payout denials tied to shared/mobile IP flags and disputed news-trading rule enforcement.
- Published challenge specifics (profit targets, drawdown percentages) differ between Standard and Pro tiers and across third-party trackers, so traders should confirm current numbers directly with AquaFunded before buying.
- Marketing leans heavily on rotating percentage-off discount codes, a pattern common to the newer, discount-led wave of prop firms.
AquaFunded FAQ
Is AquaFunded legit?
AquaFunded is a real, operating firm founded by CEO Jason Blax and launched in December 2023, registered as AquaFunded FZCO in Dubai Silicon Oasis. It has a large review base (1,400+ Trustpilot reviews) but a polarized rating around 3.0/5, with a meaningful share of one-star reviews citing payout denials. It is not a regulated broker, and its accounts are simulated evaluation and funded environments.
What evaluation options does AquaFunded offer?
One-, two- and three-step Challenges with progressively structured profit targets, plus an Aqua Trader instant-funding track that skips the evaluation for a 20% consistency rule instead. Account sizes run from roughly $2,500 to $200,000-$400,000 depending on the track, scaling toward several million dollars for consistently profitable traders.
How does the profit split and payout work?
Splits start around 90% by default with an optional add-on that raises the split toward 100%. Payouts run roughly every two weeks with a 48-hour processing guarantee, and the instant-funding track supports on-demand payout requests.
Is AquaFunded regulated?
No. AquaFunded is not authorised by a financial regulator, and its accounts are simulated evaluation and funded environments rather than live brokerage accounts. One third-party reviewer reports that trade execution is routed through partner broker ThinkMarkets, though this does not make the underlying accounts regulated products.
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