30% off all challenges

Use code

SUNNY30

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Frequently Asked Questions

Yes, you can sign up for multiple challenges, with a total account funds limit of $600,000 USD.

Funded Elite is the first prop firm to offer the “second chance” feature for free to every participant, applicable exclusively during the evaluation phases. If you breach your account during the first or second phase, you can start again fresh from the first phase. However, it’s important to remember that this second chance is not available during the elite/live trading phase. Each challenge you purchase, even for the same account, includes this unique benefit, emphasizing our commitment to supporting and educating our traders.

No, Funded Elite, operated by Quantum srls, is not a broker and does not accept deposits. We provide credentials to join a third-party platform for traders to showcase their skills.

We are partnering with ThinkMarkets for MetaTrader 4 and MetaTrader 5 platforms. ThinkMarkets which is a trading name for TF Global Markets (UK) Ltd, TF Global Markets (South Africa) (Pty) Ltd and TF Global Markets (Aust) Limited. TF Global Markets (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under FRN 629628. Registered address: Hana, 4th Floor, 70 St Mary Axe, London EC3A 8BE, United Kingdom. TF Global Markets (Aust) Limited is registered with the Australian Securities and investments Commission under ABN 69 158 361 561 and is the holder of Australian Financial Services Licence 424700. TF Global Markets (South Africa) (Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835). Please see ThinkMarkets.com website for details.

We are partnering with Purple Trading for cTrader platform. Purple Trading is a Cypriot national trademark (no. 85981), National UK trade mark (no. UK00003696619), and European Union trade mark (no. 018332329) owned and operated by L.F. Investment Limited, 11, Louki Akrita, CY-4044 Limassol, Cyprus, a licensed Cyprus Investment Firm regulated by the CySEC lic. no. 271/15. The company is legally obligated to follow all laws of Cyprus and rules and conditions of its CySEC license.

No, Funded Elite, operated by Quantum Srls is not a broker and does not accept deposits. We provide credentials to join a third-party platform for traders to showcase their skills.

We are partnering with Purple Trading, which offers raw spreads and low commissions for all our clients. Purple Trading is a Cypriot national trademark (no. 85981), National UK trade mark (no. UK00003696619), and European Union trade mark (no. 018332329) owned and operated by L.F. Investment Limited, 11, Louki Akrita, CY-4044 Limassol, Cyprus, a licensed Cyprus Investment Firm regulated by the CySEC lic. no. 271/15. The company is legally obligated to follow all laws of Cyprus and rules and conditions of its CySEC license.

Yes, you can check the available leverages in the table provided below. This should give you a clear overview of the leverage options we offer.

LEVERAGE
FX Indices AU, AG Oil NGAS XPD, XPT Crypto US Stocks
100 30 20 20 20 20 2

We are delighted to provide you with our exceptionally competitive commission rates. Please review the table below for a comprehensive overview:

Commissions – Purple Trading
FX Indices AU,AG,Oil XPD,XPT,NGAS Crypto US Stocks
3$ 0$ 3$ 0$ 0$
Commissions – ThinkMarkets
FX Indices AU,AG,Oil XPD,XPT,NGAS Crypto US Stocks
7$ 0$ 7$ 0$ 0$

The spread in our platform is virtually non-existent. We offer an extremely tight spread, with a maximum of 0.01 to 0.02 spread registered, which is among the best in the industry. This minimal spread ensures that traders can execute their trades with minimal cost impact,providing an advantageous trading environment.

It’s crucial to manage your investments within the stipulated limits. If you exceed the $600,000 maximum allocation for live funded accounts, you will not face disruption to your existing accounts. However, you will not be able to add to these accounts until the total allocation is brought back within the limit.

At FundedElite, we offer our users the flexibility to purchase an unlimited number of challenges. This approach is designed to cater to a wide range of trading strategies and preferences. However, there are some important limitations and geographical restrictions you should be aware of:

Maximum Allocation for Live Funded Accounts: While you can purchase as many challenges as you wish, the total allocation for live funded accounts is capped at $600,000. This means that, regardless of the number or type of challenges you complete, the combined value of your live funded accounts cannot exceed this amount.

Geographical Restrictions: Due to specific regulatory and compliance requirements, traders from certain countries are subject to different limits or are not permitted to participate in our challenges. These are as follows:

Vietnam: Traders can only purchase challenges up to $50,000.
Pakistan: The limit for traders is set at $100,000.
Banned Countries: We do not allow participation from traders in Iraq, Cuba, Iran, North Korea, Lebanon, Libya, Crimea, Donetsk and Luhansk regions of Ukraine, and Somalia.

We accept all major credit/debit cards and cryptocurrencies as payment methods.

Yes, you can sign up for multiple challenges, with a total account funds limit of $600,000 USD.

No, the capital provided in the accounts is virtual, not real money. However, all trades are conducted under real market conditions.

To progress to Live Simulated Accounts and complete the verification process, you will need to provide the following documents:

  • Proof of identity (front and back of I.D. card or passport)
  • A selfie holding your ID or passport

Please ensure that you use your legal name, as it appears on your ID or Passport when signing up (no nicknames or call signs). Using your current address is also crucial, as KYC documents will be matched to what is on file.

It’s important to note that verification is not required until you reach the Simulated funded stage of your challenge.

Once your payment for an evaluation plan is confirmed, you will receive login details via email to access the evaluation.

Please note that due to the program’s instantaneous nature, all sales are final upon receiving these login credentials, and refunds will not be issued.

In certain cases, if you contact us early, and no trading activity has occurred on the evaluation account, we may consider exceptions and work with you to provide a refund. Contact our live support for assistance in such scenarios.

The fee serves as a trader motivation to treat the account carefully as it should be. The fees also help us cover the website and technology expenses, which enable our clients to have track of all the account’s movements. It is a small percentage compared to the account size we give our clients; it is the only potential loss our traders have.

Currently, Funded Elite does not offer a free trial. However, we have plans to introduce a free trial option in the future.

We are committed to enhancing our services and ensuring our community members have the opportunity to experience Funded Elite firsthand.

Rest assured that once the free trial becomes available, we will promptly inform our community through notifications and updates.

For security and compliance reasons, we advise to use credit cards that are registered in your own name.

Using a credit card in your own name ensures a smoother payment process and helps prevent potential complications with transactions. We prioritize the security and integrity of financial transactions to protect both our traders and our platform. We appreciate your understanding and cooperation in adhering to this policy to maintain a secure and transparent payment environment.

After successfully completing Phase 1 of the challenge, you will receive a Phase 2 account immediately. This swift transition allows you to continue your trading journey without delay. In the case of passing Phase 2, you can expect to receive a live trading account within 1 business day.

Our team works diligently to ensure a seamless progression as you advance in the challenge. We
prioritize efficient account provisioning to minimize interruptions and empower you to demonstrate
your trading skills on the next level.

Should you have any questions or require further assistance during this process, our support team is
readily available to assist you

Challenge Phase I & Phase II Accounts: Challenge Phase I and Phase II accounts cannot be merged.
Each phase represents a distinct stage of your trading journey.

Live Accounts: Live accounts can be merged up to a total capital limit of $600,000 USD.

To become an Elite Funded Trader, successfully complete both phases of your chosen trading
challenge to become an Elite Funded Trader.

You get a “second Chance” opportunity to retake the challenge and learn from any setbacks.

Your initial account fee is eligible for a refund based on your performance in our trading challenges.

Without Second Chance: If you pass our challenges on your first try, your initial fee will be refunded with your third payout. With Second Chance: If you’ve used our “Second Chance” feature and received a free retry, the fee will not be refunded. This extended period allows us to ensure that your trading style and risk management are consistent with our standards.

We believe in rewarding our traders for their skill and dedication. Our refund policy is crafted to encourage and celebrate your success within our program.

Please be careful not to create multiple accounts through various registrations, as this is not permitted. If we discover identically traded strategies, IPs, crypto wallets, or any form of duplication through various accounts, we reserve the right to suspend those accounts in accordance with the terms of the contract. It is essential to adhere to our policies to maintain a fair and secure environment for all users. If you have specific concerns or require clarification, feel free to contact our support team for assistance.

Yes, we are committed to our business and aim to become a leading prop trading firm. We value our customers’ trust and support in building something innovative.

Funded Elite (Quantum SRLS) is based in Latina, Italy. Our headquarters are situated in Latina, and we operate in accordance with the laws and regulations of Italy. We are proud to serve traders worldwide from our established base in Latina, providing opportunities and support for traders globally

No, Funded Elite is not a regulated broker, and we do not take capital from clients or offer investment services.

We are a technology company that provides digital credentials to trading challenges as our primary product. These credentials offer access to demo accounts provided by third-party partner brokers, which simulate real market conditions. We analyze, utilize, and may sell the trading data provided by our clients for various purposes, including possible replication in our own trading accounts and sharing with third parties.

We take data security seriously and employ industry-standard security measures to protect your
personal and financial information. This includes encryption, secure payment processing, and regular
security audits.

To stay informed about our latest news, updates, and promotions, you can subscribe to our
newsletter here (link) or follow us on social media platforms like [list social media channels].

You can contact our customer support team through our contact page, writing an email to support@fundedelite.com, or by using the live chat feature on our website. Our dedicated support team is available to assist you with any questions or concerns.

During Evaluation Phase:

To successfully complete the evaluation phase, traders are required to engage in a minimum of 5 trading days. This entails opening positions on 5 distinct calendar days. While there are no specific constraints on position size or holding duration during these days, it is essential to ensure that trades are initiated across the stipulated 5 days. Even if the profit target is achieved before the completion of 5 trading days, the trader must fulfill the requirement of trading on 5 separate days.

During Elite Phase:

In the elite phase, traders are expected to demonstrate a higher level of consistency and strategic trading. To prevent one-sided betting, hedging across different proprietary firms and accounts, and to discourage high-frequency trading (HFT) or scalping, specific criteria must be met. Traders need to trade for a minimum of 5 days, and these days will only be considered valid if the maximum lot size used on the account is consistently employed. Holding positions for just a few seconds to close them will be categorized as HFT or scalping and is not permitted.

In the Elite phase at FundedElite, there is no specific profit target set for our traders. This stage is crafted to emulate real-world trading conditions, offering traders the opportunity to maximize their earnings potential without an imposed upper limit. Nonetheless, it’s important to adhere to the following guidelines:

Daily Drawdown Limit:

  • For 2-step challenge accounts: Traders must not exceed a 5% daily drawdown.
  • For 1-step challenge accounts: A more conservative 3% daily drawdown limit is applied.

Maximum Loss Limit:

  • For 2-step challenge accounts: The maximum loss threshold is set at 10% of the account balance.
  • For 1-step challenge accounts: The maximum loss cannot surpass 8% of the account balance.

Payout Period:

A minimum of 14 calendar days from the date of the first trade is required to pass before a trader can request the first payout.

Profit Split:

Traders are entitled to an 80% share of the net profits realized in their Elite phase account trading activities.

For Elite stage client accounts, traders can strive for unlimited profits as there are no specific profit targets imposed.

Please be advised that an exception applies to the initial profit split for participants who successfully pass our evaluation and advance to the Elite stage by utilizing our ‘second chance’ feature. Under these circumstances, the first profit distribution will be allocated at a rate of 50%, in contrast to the standard 80% rate. Following this initial payment, the profit split will resume at the standard rate of 80%.

Yes, there are distinctions based on the account type:

  • Giveaway or Free Accounts: For any giveaway or other free accounts provided, there is a payout cap of 2%. This means traders can request a maximum payout of 2% of the initial balance at each payout interval.
  • Purchased Accounts: Upon purchasing an account and reaching the Elite stage again, this payout limit is reset. Traders in the Elite stage enjoy the absence of a specific profit cap, aligning with the intended realistic trading experience.

Please be advised that an exception applies to the initial profit split for participants who successfully pass our evaluation and advance to the Elite stage by utilizing our ‘second chance’ feature. Under these circumstances, the first profit distribution will be allocated at a rate of 50%, in contrast to the standard 80% rate. Following this initial payment, the profit split will resume at the standard rate of 80%.
These rules are devised to propel traders towards sustainable growth, sharpening their focus on strategic trading, risk management, and the fulfillment of phase-specific requirements.

We’re committed to ensuring a secure and fair trading environment for all traders. To enhance simplicity and security, we recommend using a single device with a unique IP address.

For traders on the move, your account will reflect the IP address of your current location. Just provide a valid document validating your journey to a new location.

Caution is advised against maintaining multiple accounts from similar IPs or using similar trading strategies across multiple accounts with identical IP addresses – these actions violate our policies.

When using a VPS for trading and occasionally logging in with a personal device, make sure to verify ownership of the VPS IP address.

In the event of policy violations related to multiple IP addresses, consequences may include a warning accompanied by profit deduction. While an account reset may occur, if your account isn’t in profit, no reset will take place. In severe cases, account termination without profit share is possible.

Our measures aim to prevent copy trading, account sharing, arbitrage, and other exploitative activities. We envision a trading community where members refrain from using multiple devices or trading styles deemed unethical.

At Funded Elite, we prioritize platform security. We encourage all traders to adhere to our evolving policies and guidelines, contributing to a secure and ethical trading environment. For inquiries or concerns, reach out to the Funded Elite Support Team at support@fundedelite.com

Funded Elite provides you with access to a comprehensive dashboard where you can monitor your trading progress, view performance metrics, and track your journey toward becoming an Elite Funded Trader.

Yes, you are able to trade news events within our trading challenges.

Yes, you may use your own EA. However, please be aware of our copy trading rules and potential
server “hyperactivity.”

Absolutely, we do allow all strategies, including the Martingale strategy. However, it’s important to note that we strictly prohibit any fraudulent use of our platform or any activities that violate our terms of service. We encourage responsible and ethical trading practices at all times.

Yes, it is possible to use a VPS with our platform

The accounts are not swap free

Yes, you can copy trade, but it’s important to ensure that you’re only copying from accounts that are owned by you, even if they’re across different platforms. This maintains compliance with our policies.

Yes, we enable weekend holding of positions in our trading challenges.

We do not restrict trading styles and allow various strategies, including edging, grid trading, Martingale, and more.

Some strategies are prohibited, such as account sharing, HFT, algorithmic trading and delayed data feed usage.

Trading challenges are structured tasks with specific goals and metrics that traders must complete to advance in order to obtain simulated live accounts.

Here is our scaling plan:

  1. Initial Funded Stage:

    • Eligibility: Only for traders in the funded stage, not during evaluation.
    • Initial Balance: Set at the start (e.g., $100,000).
    • Profit Split: 80% to the trader.
    • Payout Frequency: First payout after 21 days, then biweekly.
    • Maximum Drawdown: Defined initially (e.g., 10% of initial balance).
  2. Balance Increase Stage:

    • Condition: Every 3 successful payouts.
    • Balance Increase: 10% after every 3 payouts (e.g., $100,000 becomes $110,000 after 3 payouts, $121,000 after 6 payouts).
  3. Enhanced Profit Split Stage:

    • Condition: After 5 successful payouts.
    • New Profit Split: Increases to 90% for the trader.
  4. Increased Payout Frequency Stage:

    • Condition: After 7 successful payouts.
    • New Frequency: Weekly payouts (previously biweekly).
  5. Drawdown Increase:

    • Condition: Alongside balance increase.
    • Increase: 1% additional total drawdown after every 3 payouts, up to a cap (e.g., from 8%-10% to 14%).

Key Points:

  • Scaling Limits: Conditional on maintaining performance and adhering to guidelines
  • Drawdown Cap: A limit on maximum drawdown increase for risk management.
  • Evolving Parameters: As balance grows, drawdown parameters adapt for larger position
    management.

Understanding our drawdown Challenge Parameters:

One-Phase Challenges:

  • Daily Drawdown:> 3%
  • Total Drawdown:> 8%

Two-Step Challenges:

  • Daily Drawdown:> 5%
  • Total Drawdown:> 10%

Please note the daily drawdown is dynamic and adjusts relative to your account’s performance, while the total drawdown is static and firmly set based on your initial balance.

Static Drawdown Example with a $100,000 Balance:

Imagine you start a Two-Phase Challenge with an initial trading balance of $100,000.

Daily Drawdown: In this challenge, your daily drawdown limit is 5%. For a $100,000 account, this means your daily drawdown limit is set at $95,000. You cannot lose more than $5,000 (5% of $100,000) in a single trading day. If your account balance decreases by $5,000 or more in a single trading day, you would reach the daily drawdown limit for that day.

Total Drawdown: Now, the total drawdown limit for this challenge is 8%, based on your initial balance of $100,000. This implies that you cannot incur losses exceeding 8% of your starting balance throughout the entire challenge. Your total drawdown limit is fixed at $8,000 (8% of $100,000). This limit ensures that you won’t lose more than $8,000 in total during the entire challenge period, irrespective of how your account balance fluctuates.

Profit Consideration: It’s crucial to understand that if you initially make a profit, for example, increasing your balance to $105,000, and then experience losses that bring your balance back to $100,000, these losses will count toward the daily dynamic drawdown limit. The total static drawdown limit is set at $90,000, ensuring the account maintains stability. Profits earned are subject to the dynamic daily drawdown limit, which adjusts based on the higher of the closing balance or equity.

Rest assured, we are committed to providing a transparent and fair trading environment for our traders. If you have any questions or need further clarification, feel free to reach out.

While not mandatory, we strongly recommend using stop losses in the Sim environment. A stop loss helps safeguard your virtual capital, limits potential losses, and provides a predefined exit point. It’s a responsible risk management practice that promotes disciplined trading and long-term success.

No, we do not impose a specific time limit on how long you can hold a trade in any of our programs. However, please note that excessively short holding times may be flagged as High-Frequency Trading (HFT), which is strictly prohibited.

If you encounter technical issues, such as platform outages or data feed disruptions, please reach out
to our support team immediately. We will work to resolve the issue promptly and ensure it doesn’t
affect your challenge progress.

Funded Elite is committed to transparency. There are absolutely no hidden rules when you join our program. Every essential detail you need to know can always be found right here in our FAQ section.

In cases where we observe that a challenge has been passed through a very limited number of trades, which is often associated with a high risk of hedge trading between different proprietary firm accounts, or by utilizing trading strategies with not allowed Expert Advisors (EAs)—specifically, hidden EAs or high-frequency scalping EAs—we will transition the associated live account to an “evaluation” status. During this period, the leverage available to the trader will be reduced to 1:30. This measure is implemented to mitigate excessive gambling or risk to our company, as we are unable to replicate these trades on live accounts.

It’s important to note that when clients employ prohibited trading strategies, we directly close their accounts. However, when we find irregularities that don’t explicitly breach our rules but still present concerns, we adopt the evaluation approach.

A trader under evaluation is required to demonstrate consistent trading practices. Upon achieving this, and at the time of their third payout, the trader’s account will be reinstated to the normal leverage level. This policy is in place to ensure both the integrity of our trading environment and the safeguarding of our company’s interests.

In our commitment to support our traders through every step of their journey, we’re excited to introduce an automatic and immediate Second Chance Account feature. This benefit is available once for each challenge purchased, at no additional cost to you! However, please note the following adjustments to the challenge limits:

  1. Two-Step Challenge Accounts:
    • The daily loss limit will be adjusted from 5% to 3%. However, the total allowable drawdown will remain unchanged.
  2. One-Step Challenge Accounts:
    • The total allowable drawdown will be adjusted from 8% to 6%. The daily loss limit will remain unchanged.

It’s important to note that these adjusted limits will apply not only to your Second Chance Account but will also continue through to the Elite Phase.

These changes are designed with your success in mind, aiming to provide additional opportunities while maintaining the integrity and sustainability of our trading community. We believe these adjustments will further support your trading strategy and risk management, enhancing your pathway to the Elite Phase.

After meeting the payout requirements (minimum 21 days), we aim to process and issue rewards within a maximum of 24 hours. After the first payout, you will be updated to bi-weekly payouts.

We process all payouts through bank transfers (Wise, Revolut, etc.) or cryptocurrencies.

As a funded elite trader, you are treated as an independent contractor responsible for paying taxes based on your location and applicable tax laws.

Funded Elite may offer special incentives or bonuses to traders who consistently perform well in their challenges. Keep an eye on our announcements and promotions for opportunities to earn extra rewards.

There are typically no restrictions on payouts. You have the flexibility to manage your payouts as needed, subject to any applicable withdrawal fees or processing times.

All your payouts will be accepted and processed as fast as possible as long as you have not violated any rules.

The Affiliate Program allows traders to earn commissions and offer discounts by referring clients to Funded Elite.

To join the Affiliate Program, you can visit our Affiliate Program page on our website and sign up. Once registered, you will gain access to your affiliate dashboard, where you can find your unique referral link and promotional materials. If no dashboard is avaiable, please feel free to contact us to receive your unique referral link.

You can refer clients by sharing your unique affiliate link through your website, blog, social media, email, or other promotional channels. When someone clicks on your link and signs up for a Funded Elite challenge, you’ll earn commissions.

Here is our system:

Tier 3: Starting Line Earn 16% commission per referral. Get a 25k trading account after 10 invites. Bi-weekly payouts.

Tier 2: Growth Phase Reach Tier 2 with 20 invites. Increase earnings with 13% commission. At 20 invites, get a 50k account; At 30 invites, get a 100k account. Weekly payouts.

Tier 1: Elite Circle Reach elite with 50 invites. Highest 10% commission rate. At 50 invites, Receive a 200k trading account.

The commission structure may vary, and you can find the most up-to-date commission rates in your
affiliate dashboard or on our affiliate page. Typically, commissions are based on the referrals’
payments and activities.

Commissions are typically paid out on a regular schedule, such as weekly. You can choose your preferred payout method, which may include bank transfers, PayPal, crypto or other options, depending on your location.

Yes, there may be a minimum payout threshold that you need to reach before receiving your commissions. This threshold may vary based on your chosen payout method.

Yes, we provide a range of promotional materials such as banners, text links, and marketing creatives that you can use to promote Funded Elite effectively.

There is typically no limit to the number of referrals you can make. You can refer as many clients as you like and earn commissions on their activities.

The waiting period for commissions may vary, but it’s usually to ensure that referred clients don’t cancel or request refunds shortly after signing up. Once the waiting period is over, you’ll receive your commissions.

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