The Funded Trader review
The Funded Trader (TFT) is a Texas-founded prop trading firm launched in 2021 by Angelo Ciaramello, built around a gamified, medieval-themed brand (Knight, Royal and Dragon challenges with leaderboards and achievements) that had reportedly paid out over $40 million by 2023. In March 2024 it suspended all payouts firm-wide, citing a self-imposed 'internal audit,' after a botched DXtrade platform migration created a large support backlog; the pause drew industry-wide backlash, delisting from at least one prop-firm aggregator, and months of trader complaints. TFT resumed paused accounts in August 2024 and reported clearing larger payouts from January 2025, restructuring its trading entity to the Cayman Islands in the process. As of this review it is again actively selling challenges, but Trustpilot sentiment remains mixed and at least one review aggregator (TheTrustedProp) currently lists it as closed — a live discrepancy worth verifying directly before paying an evaluation fee. Accounts are simulated and the firm is not financially regulated.
The Funded Trader key facts
- Website: thefundedtraderprogram.com
- Category: Prop trading firm
- Founded: 2021
- Headquarters: Liberty Hill, Texas, US
- Model: Knight / Royal / Dragon challenges
- Account sizes: $5K–$200K
- Profit split: up to 95%
- Trustpilot: ~3.2/5 (mixed)
- Status: Operating, post-2024 payout crisis
- CEO: Angelo Ciaramello
- FYI Score: 78.7/100 (ranked #188 of the prop trading firms we track)
Rules and risk
- Three evaluation tracks — Knight (1-step), Royal (2-step) and Dragon (3-step) — with profit targets of 8-10% per phase and drawdown limits of 3-5% daily, 8-10% maximum depending on the track.
- Accounts are explicitly simulated, using real market quotes from liquidity providers rather than live brokerage capital.
- Leverage up to 1:200 across MT5, cTrader, Match-Trader and DXtrade, with no fixed time limit to complete a challenge.
Payouts and operating history
- Profit splits are advertised up to 95% through a tiered/VIP structure, with first payouts available in as little as 7 days on some tracks.
- TFT suspended all payouts in March 2024, citing a 'self-imposed internal audit,' after a botched DXtrade migration created a large support-ticket backlog; at least one aggregator (PropFirmMatch) delisted the firm during the pause.
- The firm resumed paused accounts in August 2024 and reported clearing larger payouts from January 2025, restructuring its trading entity to the Cayman Islands during this period.
- As of this review the firm is actively selling challenges again, but Trustpilot sentiment remains mixed (roughly 3.2-3.3/5, with a notable cluster of 1-star reviews) and at least one review aggregator still flags it as closed — a discrepancy worth verifying directly.
The Funded Trader evaluation challenges
| Challenge | Steps | Profit target | Max drawdown | Profit split | Price |
|---|
| Knight Challenge | 1-step | 10% | 8% | 95% | from $42 · $5K–$200K |
| Royal Challenge | 2-step | 8% | 10% | 95% | from $42 · $5K–$200K |
| Dragon Challenge | 3-step | 8% | 10% | 95% | from $42 · $5K–$200K |
Markets
Forex, Indices, Commodities, Metals, Crypto
Platforms
MetaTrader 5, cTrader, Match-Trader, DXtrade
Who The Funded Trader is for
A trader drawn to TFT's gamified format and its up-to-95% advertised split should weigh the 2024 payout suspension and still-mixed reviews carefully, independently verify the firm's current operating status before paying an evaluation fee, and treat any funded balance as sitting with an unregulated, offshore-restructured counterparty.
Pros
- Multiple evaluation formats (1-, 2- and 3-step) across established platforms (MT5, cTrader, Match-Trader, DXtrade), with a wide instrument list spanning forex, indices, commodities, metals and crypto.
- Headline profit splits advertised up to 95%, with some tracks offering first payouts in as little as 7 days.
- One of the longer-running gamified prop firms (founded 2021, $40M+ historically reported paid out) with an established, well-known brand.
Cons
- Suspended all payouts firm-wide in March 2024 for months, citing an 'internal audit' — a major trust event that led at least one aggregator to delist it and left many traders reportedly waiting on withdrawals into 2025.
- Post-crisis trust signals are still mixed: Trustpilot sits around 3.2-3.3/5 with a meaningful 1-star cluster, and at least one review aggregator (TheTrustedProp) currently lists the firm as closed even though its own site is actively selling challenges — verify current status directly before paying.
- Not regulated; accounts are simulated demo environments, and the trading entity was moved offshore to the Cayman Islands during the 2024 restructure.
The Funded Trader FAQ
Is The Funded Trader legit?
The Funded Trader is a real firm founded in 2021 by Angelo Ciaramello, with a distinctive gamified brand and a reported $40M+ historically paid out. It suspended all payouts for months in 2024, resumed operations in August 2024, and is again actively selling challenges as of this review. However, trust signals remain mixed — Trustpilot sits around 3.2-3.3/5 and at least one review aggregator still lists the firm as closed — so verify its current status directly before paying an evaluation fee.
What happened to The Funded Trader in 2024?
In March 2024, TFT suspended all trader payouts, citing a self-imposed 'internal audit' to check compliance with its terms. The pause coincided with a botched migration to the DXtrade platform that created a large backlog of support tickets, plus separate MetaQuotes-driven changes affecting MetaTrader access for US-facing brokers. The firm faced heavy criticism, was delisted by at least one prop-firm aggregator, and left traders — reportedly hundreds with balances above $100,000 — waiting months for withdrawals. TFT resumed paused accounts in August 2024 and reported clearing larger payouts from January 2025.
What evaluation programs does The Funded Trader offer?
Three main tracks: the Knight Challenge (1-step, 10% target, 3% daily/8% max drawdown), the Royal Challenge (2-step, 8% then 5%, 5% daily/10% max drawdown, EAs and weekend holding allowed), and the Dragon Challenge (3-step, 8%/5%/5% targets, same 5%/10% drawdown, marketed as the lower-cost route). Account sizes run $5,000 to $200,000.
What is The Funded Trader's profit split and payout speed?
TFT advertises profit splits up to 95% through a tiered structure, with some tracks (like the Knight Challenge) offering a first payout in as little as 7 days. Payout cadence and eligibility vary by track, and given the firm's 2024 payout suspension, traders should confirm current payout terms and turnaround directly before relying on advertised figures.
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