Mega Funded is a new and promising prop trading firm established in 2023. Despite being a relatively recent entrant in the trading industry, the company has quickly gained attention for its unique offerings and trader-friendly policies.
Registered in Australia, Mega Funded operates with a commitment to providing traders with robust tools and opportunities to maximize their potential in the financial markets.
This review will explore various aspects of Mega Funded, from its trading platforms and account sizes to its support options and unique features.
Create an account with Mega Funded today and start your trading journey.
Coupon Code for Mega Funded Prop Firm
Currently, there is no information available regarding any coupon codes or promotional offers provided by Mega Funded.
About Mega Funded Prop Firm: An Overview
Company Name
The official company name is Mega Funded.
Address Details
Mega Funded is located at Songino Khairkhan District 15th khoroo 13120, Ulaanbaatar City, Mongolia.
Founding Year
The company was established in 2023.
Registration Location
Mega Funded is registered in Australia.
Who Owns Mega Funded
The ownership details of Mega Funded were not disclosed on their website or accessible at the time of writing.
Trading Platforms
Mega Funded offers two main trading platforms for its users: MT4 and DxTrade. MT4 (MetaTrader 4) is a widely recognized platform known for its user-friendly interface and comprehensive charting tools, making it a favorite among forex traders. DxTrade, on the other hand, provides a robust and customizable trading environment, suitable for traders who seek advanced features and flexibility.
Instruments Available at Mega Funded
Traders at Mega Funded have access to a diverse range of trading instruments, including:
- Forex: Trade major, minor, and exotic currency pairs.
- Indices: Engage in trading leading global indices.
- Metals: Trade precious metals such as gold and silver.
- Crypto: Invest in popular cryptocurrencies.
This variety ensures that traders can diversify their portfolios and take advantage of various market opportunities.
How to Make Payments at Mega Funded Prop Firm
Mega Funded supports a range of payment methods to cater to its global clientele. Currently, traders can make payments using:
- Credit Cards: Secure and convenient transactions using major credit cards.
- Cryptocurrency: Utilize popular cryptocurrencies for quick and secure payments.
These options provide flexibility and ease for traders to fund their accounts and participate in trading activities.
Account Sizes
Mega Funded offers a variety of account sizes to accommodate different trading levels and financial commitments. The available account sizes are:
- $5,000
- $15,000
- $25,000
- $50,000
- $100,000
- $200,000
This range allows traders to choose an account size that aligns with their trading strategy and risk tolerance.
Profit Splits in Mega Funded Prop Firm
Mega Funded offers attractive profit splits for its traders, depending on the type of challenge they choose:
- 1-Step Challenges: Traders receive an 80% profit split.
- 2-Step Challenges: Traders enjoy a 90% profit split.
These profit splits are designed to reward traders generously for their successful trading performance.
Profit Targets for Mega Funded Prop Firm
The profit targets at Mega Funded vary based on the type of challenge:
- 1-Step Challenges: Traders must achieve a 10% profit target.
- 2-Step Challenges: Traders need to reach a 10% profit target in Phase 1 and a 5% profit target in Phase 2.
These targets are set to ensure that traders demonstrate consistent and profitable trading strategies.
Maximum Daily Drawdown and Loss at Mega Funded Prop Firm
Mega Funded has established specific guidelines for maximum daily drawdown and overall loss to manage risk effectively:
- 1-Step Challenges:
- Max daily loss: 4%
- Max total loss: 8%
- 2-Step Challenges:
- Max daily loss: 5%
- Max total loss: 10%
These limits are in place to protect traders from excessive losses and encourage disciplined trading practices.
Minimum/Maximum Trading Days Required at Mega Funded Prop Firm
Mega Funded offers flexibility in terms of trading days for their evaluation and funded accounts:
- Evaluation Accounts: Unlimited trading days with a minimum of 5 trading days required.
- Funded Accounts: Unlimited trading days with no minimum trading days requirement.
This approach allows traders to take their time to meet the challenge requirements without the pressure of a tight timeframe.
Steps Available Across Challenges
Mega Funded provides two types of challenge steps for traders:
- 1-Step Challenges: Traders must meet a single set of criteria to qualify for funding.
- 2-Step Challenges: Traders must pass two phases, with each phase having specific profit targets and risk management rules.
These structured challenges cater to different trading styles and preferences, giving traders options to choose based on their comfort and strategy.
Pricing for Mega Funded Prop Firm Challenge
The cost to start challenges at Mega Funded varies based on the account size and type of challenge:
- 1-Step Challenges:
- 15k – $100
- 25k – $125
- 50k – $250
- 100k – $450
- 200k – $900
- 2-Step Challenges:
- 5k – $50
- 15k – $100
- 25k – $150
- 50k – $280
- 100k – $475
- 200k – $820
This pricing structure allows traders to select a challenge that fits their budget and trading goals.
Commissions and Fees at Mega Funded Prop Firm
Mega Funded charges a commission of $7 per lot traded. This commission rate is competitive and ensures that traders can manage their trading costs effectively.
Mega Funded Prop Firm: Refund Policies
The information regarding refundable fees was not disclosed on the website or accessible at the time of writing.
Trial Offers at Mega Funded Prop Firm
Mega Funded does not offer any free trial programs. Traders interested in participating must start with the paid challenges outlined in the pricing section.
Payout Schedules of Mega Funded Prop Firm
Mega Funded provides bi-weekly payouts to its traders. This frequent payout schedule ensures that traders receive their earnings promptly and can reinvest or withdraw their profits as needed.
Pros & Cons
- Simple and quick process to start trading.
- Uses Eightcap, known for great spreads and commissions.
- Up to 90% for 2-step challenges.
- Bi-weekly payouts ensure timely earnings.
- Trade Forex, Indices, Metals, and Cryptocurrencies.
- Unlimited trading days for evaluation and funded accounts.
- Users praise the platform’s professionalism and ease of use.
- Lack of information on company owners.
- Unclear if any fees are refundable.
- Requires financial commitment upfront.
- $7 per lot might be high for frequent traders.
- Details on customer support effectiveness are unclear.
Mega Funded FAQ Section
Mega Funded is partnered with Eightcap as their broker, offering industry-leading spreads and commissions for traders. For detailed information on account offerings, visit Eightcap’s trading conditions.
Copy trading or the use of trade copier software is permitted between personal accounts. However, copy trading from third-party IP addresses is strictly prohibited.
Yes, their program allows for weekend and overnight holding of trades.
Currently, they run 1-phase and 2-phase evaluation programs with no ongoing fees.
The Scale-Up plan offers traders the opportunity to expand their trading activity by potentially receiving a capital allocation of up to $2 million by increasing 20% of the initial balance per month. To be eligible for scaling up, traders must:
Receive at least four consecutive payouts.
End the last trading cycle in profit.
Get started today!
