Skilled Funded Traders is an American proprietary trading firm that seeks seasoned traders to participate in a two-stage evaluation process and potentially become funded traders. Upon successfully completing the evaluation, traders can manage funds through a scaling plan.
Those who become Skilled Funded Traders can retain 80% of the virtual profits they generate while any virtual losses incurred will be covered by the company, according to the website. If you’re interested in applying, you should first read our Skilled Funded Traders Review and get a better picture of how this business works and whether it is worth it.
Skilled Funded Traders LLC, based in the United States, was founded in the spring of 2023. This line of business does not require a special trading license.
However, the brokerage firms that Skilled Funded Traders is partnered with, Eightcap and ThinkMarkets, have based their platforms offshore and thus do not possess an adequate and credible trading license.
Eightcap is a popular Australian Forex broker with a subsidiary in the Bahamas and ThinkMarkets, headquartered in the UK, also operates out of Seychelles. Both these offshore jurisdictions have lax regulations in force and are not regarded as safe trading environments.
Please take this into account should you decide to sign up for the prop firm’s evaluation process. As for the choice of jurisdiction under which your broker operates, we recommend major financial hubs supervised by top-tier regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), FINMA (Switzerland), IIROC (Canada), etc.
If you look at the earliest reviews, you’ll notice several complaints about various issues traders experienced while using the platform, which is not uncommon for starting businesses.
Keep in mind that the brokers you’re supposed to be trading with, Eightcap and ThinkMarkets, accept a lot of clients via their offshore platforms and thus offer much higher leverage (1:100) than allowed in the US (1:50) or the UK (1:30).
This firm primarily offers a two-phase evaluation program for traders looking to access funded trading accounts. Here’s an overview of the two main programs:
Upon successfully completing both phases, traders become eligible for live-funded accounts with profit splits starting from 80% in the trader’s favor with the possibility of scaling up the split to 90% and the potential to manage larger capital.
The prop firm offers an affiliate program that allows individuals to earn commissions by referring new traders to their platform. The basic commission is 7.5%. After 50 referrals, that number rises to 10% and even 15% after passing the 100 referral mark.
When someone joins this firm through the unique link you send him/her and pays for their Skilled Funded Traders evaluation process, you earn a commission based on the number of referrals and the corresponding commission rate.
We assume this program is working out for Skilled Funded Traders pretty well considering the firm’s large client base. However, be on your guard because oftentimes these campaigns are Ponzi schemes in disguise.
Skilled Funded Traders’ deposit and withdrawal process is centered around crypto payments exclusively. Users have the possibility to fund their accounts using Bitcoin, Ethereum, USD Tether, and USD Coin. The minimum withdrawal requirement is 25 USD.
Crypto payments are problematic because the refund process is much more complex than a simple chargeback or recall.
Traders are typically required to pay a fee to participate in Skilled Funded Traders’s evaluation program. The fee can vary depending on the size of the evaluation account chosen – the fees range from 67 USD per month for a 10,000 USD account to 867 USD per month for a 200,000 USD account.
To sum up, Skilled Funded Traders is an American-based proprietary firm that offers trading capital to clients who successfully complete the evaluation and verification challenges.
Although the prop firm received numerous positive reviews on Trustpilot, it is partnered with offshore brokers and accepts payments exclusively via cryptocurrencies, which raises concerns.
If you’re still interested in this company, proceed with caution. Should any issues arise, you can book a free consultation with Global Fraud Protection and explain the problem. We can help you recover your funds.
Book a free consultation today and get your hard-earned funds back.
Skilled Funded Traders is an American prop firm that provides trading capital to those who successfully pass the evaluation process.
You must complete the evaluation and verification challenges in order to gain access to the firm’s funds.
Traders get to keep 80% of the virtual profits generated with the possibility of scaling up to 90%.
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