Is It Possible To Get A Forex Funded Account Free?

Searching for ways to start trading without any costs? While the idea of a completely free funded account might be appealing (and yes, such accounts do exist), they may not always be the best option for you.

In this article, we’ll guide you through finding acceptable free options and excellent low-cost alternatives to kickstart your trading journey.

Can you start forex trading without money?

Starting in the forex trading industry requires capital. You will need funds to cover margin requirements, trading fees, and potential losses. This need for initial investment creates a significant barrier for many aspiring traders. Which leads us to a question: what is this minimal initial investment?

You could start trading with as little as $100 if you want to trade with your own funds. However, if this amount still seems too high, alternative ways exist to get started in the forex market without breaking the bank.

The reality of “free” funded accounts

Most reputable trading firms do have some costs associated with them. These costs typically cover the evaluation process to ensure that traders have the necessary trading skills and risk management capabilities.

Why there are usually fees

1. Evaluation Costs: Prop firms invest resources into evaluating traders. This includes software, servers, and staff to monitor the performance.
2. Risk Management: The fees help ensure that only serious traders are given access to the challenge. Those who want to complete it and continue trading on the firm’s behalf.

Some firms offer a free month on their demo account, where you can safely practice with their instruments. You will not get funded when you complete this free challenge, but at least you will gain valuable experience. Others will refund your challenge cost once you pass the challenge.

IC Funded is also in this category. If you manage to pass our evaluation and get funded, you will get your initial investment back!

How to get funded for trading?

While completely free options are rare, many programs offer low-cost entry or refunds, for example:

• FTMO: Refunds the evaluation fee once you pass their challenges.
• Topstep: Offers a low monthly fee with the potential to recover those costs through successful trading.

Strategies to minimize costs

1. Promotional offers: Look out for promo codes or special offers that reduce or eliminate initial fees.
2. Scholarships and competitions: Some proprietary trading firms run trading competitions where winners receive funded accounts without any fees.
3. Referral programs: Find platforms that offer free or discounted evaluations for referring other traders.

Introducing the IC Funded Challenge

The IC Funded Challenge is a new program designed to provide traders with access to everything they need to get a funded trading account while keeping the costs low. Here are the key details:

Evaluation levels:

• Account Sizes: $5,000, $10,000, $25,000, $50,000, $100,000, $250,000, $500,000

Evaluation phases:

• Phase One: Achieve a 10% performance target
• Phase Two: Achieve a 5% performance target

Further requirements:

• Trading Days: Minimum of 5 days, no maximum limit
• Daily Loss Limits: 5% of the account balance
• Max Loss Limits: 10% of the account balance

Leverage and split:

• Leverage: 50:1 on FX/Gold, 10:1 on indices and commodities, 5:1 on equities.
• Split: 75/25 and after the first month, increasing to 80/20.

Evaluation fees are refunded on the first payout if Phase Two is successfully completed.

Comparison with Topstep

Evaluation Fees:

• IC Funded Challenge: One-time fees from $49 to $2,498.
• Topstep: Monthly subscription fees starting at $49/mo + $149 activation fee.

Profit Split:

• IC Funded Challenge: 75/25 initially, then 80/20.
• Topstep: Starts at 80/20 and can reach up to 90/10 after challenging milestones.

Additional Features:

• IC Funded Challenge: Offers news trading and does not require closing positions on Fridays.
• Topstep: Requires positions to be closed before major economic releases and on weekends.

Why it’s worth the investment

Even if a small upfront fee is required, the potential benefits of obtaining a funded account can outweigh the initial cost. Having access to larger capital allows you to make larger trades.

Additionally, being involved with trading firms provides experience and exposure to professional trading environments. And lastly, you can participate in trades without using your own money, as successful trades generate returns shared between you and the funding firm.

Key Takeaways

When choosing a funded trading program, consider the following:

• Costs: Evaluate the initial fees or subscription costs and whether they offer refunds.
• Coupons: Look for opportunities to cut down on initial fees.
• Additional Rules: Be aware of any specific rules like news trading or position holding requirements.

Ready to start your trading journey with minimal investment? Try our IC Funded Challenge  today, gain access to a funded trading account, and get your fee refunded!