Overview
MasterFunders is a Cyprus-based proprietary trading firm that offers traders the opportunity to manage funded accounts up to $200,000. With a focus on accessibility, flexibility, and generous profit-sharing, MasterFunders aims to attract both novice and experienced traders. Below is a comprehensive review of their offerings based on key evaluation criteria.
Evaluation Model
MasterFunders employs a two-step evaluation process:
- MasterFunders Challenge: Traders must achieve an 8% profit target in the first phase without exceeding a 5% maximum daily loss or a 10% maximum loss.
- Qualifying Phase: Upon successful completion of the initial challenge, traders enter the qualifying phase, aiming for a 5% profit target under the same risk parameters.
Notably, there are no minimum or maximum trading day requirements, allowing traders to progress at their own pace. Additionally, MasterFunders offers a unique 24-Hour Speed Challenge for those seeking expedited evaluation.
Profit Split
MasterFunders offers a competitive profit-sharing model, starting at 80% for traders. This can increase up to 90% based on performance and adherence to trading rules. Payouts are processed biweekly, providing traders with regular income opportunities.
Max Funded Capital
Traders can access funded accounts ranging from $2,500 to $200,000. The firm also provides a scaling plan, allowing traders to increase their account size by 25% every quarter, up to a maximum of 100% of the initial balance, contingent on meeting specific performance criteria.
Drawdown Rules
MasterFunders enforces strict drawdown rules to promote disciplined trading:
- Maximum Daily Loss: 5% of the initial account balance.
- Maximum Loss: 10% of the initial account balance.
These parameters apply consistently across all account sizes and challenge types.
Trading Platforms
The firm utilizes a proprietary trading platform accessible via web browsers and mobile devices (Android and iOS). While this platform is designed for simplicity and efficiency, it does not support popular platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which may be a consideration for traders accustomed to these interfaces.
Scaling Plan
MasterFunders’ scaling plan enables traders to expand their account balance by 25% every quarter, up to a total increase of 100%. To qualify, traders must achieve a 10% profit target each quarter, complete a minimum of four payouts during that period, and maintain an account balance above the initial amount at the time of scaling.
Trading Conditions
Traders benefit from flexible trading conditions, including:
Leverage: Up to 1:100 for Forex instruments.
Instrument Coverage: Access to Forex, commodities, indices, stocks, and cryptocurrencies.
Commission Structure: $1 per lot for Forex, commodities, and indices; 0.10% per lot for stocks; and commission-free trading for cryptocurrencies.
Trading Flexibility: No restrictions on overnight or weekend positions, and news trading is permitted.
Customer Support
MasterFunders offers 24/7 customer support through email, phone, and social media channels like Facebook and Instagram. While response times may vary, especially during European night hours, the firm is committed to continuous availability and plans to enhance communication tools further.
Payout Process
Payouts are processed within 1-2 business days upon request. Traders can receive their profits via bank wire transfer, Skrill, or cryptocurrencies. MasterFunders does not charge commissions for payouts, ensuring that traders retain the full amount of their earnings.
Available Trading Instruments
The platform offers a diverse range of trading instruments, including:
- Forex pairs
- Commodities (Gold, Silver, Oil)
- Indices (S&P 500, NASDAQ, Dow Jones, etc.)
- Cryptocurrencies (Bitcoin, Ethereum, etc.)
- Stocks
Account Sizes and Associated Parameters
MasterFunders provides various account sizes with corresponding parameters
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| Account Size | Profit Target (Phase 1) | Profit Target (Phase 2) | Max Daily Loss | Max Loss | Leverage | Refundable Fee |
|---|---|---|---|---|---|---|
| $2 500 | 8% | 5% | 5% | 10% | Up to 1:100 | $25 |
| $5 000 | 8% | 5% | 5% | 10% | Up to 1:100 | $47 |
| $10 000 | 8% | 5% | 5% | 10% | Up to 1:100 | $85 |
| $25 000 | 8% | 5% | 5% | 10% | Up to 1:100 | $170 |
| $50 000 | 8% | 5% | 5% | 10% | Up to 1:100 | $272 |
| $100 000 | 8% | 5% | 5% | 10% | Up to 1:100 | $435 |
| $200 000 | 8% | 5% | 5% | 10% | Up to 1:100 | $880 |