Mega Funded, a prop trading firm established in 2023, is making waves in the trading industry with its innovative offerings and trader-centric policies. Despite being a newcomer, it has quickly attracted attention.
Based in Australia, Mega Funded aims to provide traders with advanced tools and ample opportunities to excel in the financial markets.
This review delves into Mega Funded’s various aspects, including its trading platforms, account sizes, support services, and distinctive features.
Join Mega Funded today and kickstart your trading career.
Coupon Code for Mega Funded Prop Firm
As of now, there are no available coupon codes or promotional offers from Mega Funded.
Overview of Mega Funded Prop Firm
Company Name
The official name is Mega Funded.
Address Information
Mega Funded is located at Songino Khairkhan District 15th khoroo 13120, Ulaanbaatar City, Mongolia.
Year of Establishment
The firm was founded in 2023.
Location of Registration
Mega Funded is registered in Australia.
Ownership Information
Ownership details for Mega Funded are not available on their website or accessible at this time.
Trading Platforms Offered by Mega Funded
Mega Funded provides two primary trading platforms: MT4 (MetaTrader 4) and DxTrade. MT4 is a widely recognized platform appreciated for its user-friendly interface and extensive charting tools, making it popular among forex traders. DxTrade offers a robust, customizable trading environment ideal for those seeking advanced features and flexibility.
Diverse Trading Instruments at Mega Funded
Traders at Mega Funded have access to a wide range of instruments, including:
- Forex: Major, minor, and exotic currency pairs.
- Indices: Leading global indices.
- Metals: Precious metals like gold and silver.
- Crypto: Popular cryptocurrencies.
This variety ensures traders can diversify their investments and exploit various market conditions.
Payment Methods Supported by Mega Funded
Mega Funded supports a variety of payment methods to accommodate traders globally. Currently, payments can be made through:
- Credit Cards: Secure and convenient transactions using major credit cards.
- Cryptocurrency: Quick, secure payments via popular cryptocurrencies.
These options provide traders with the flexibility and ease to fund their accounts efficiently.
Account Sizes Available at Mega Funded
Mega Funded offers a range of account sizes to suit different trading levels and financial commitments. Available sizes include:
- $5,000
- $15,000
- $25,000
- $50,000
- $100,000
- $200,000
This variety allows traders to choose an account size that best matches 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.
Cost Structure for Mega Funded Challenges
Mega Funded offers a variety of challenge costs depending on account size and challenge type:
- 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 flexible pricing allows traders to choose a challenge that matches their financial capabilities and trading objectives.
Commission Rates at Mega Funded
At Mega Funded, the commission rate is $7 per lot traded. This competitive rate helps traders manage their costs while engaging in their trading activities.
Refund Policy Information
Information about refundable fees was not disclosed on the Mega Funded website or accessible at the time of writing.
Availability of Trial Offers
Mega Funded currently does not provide any free trial offers. Traders need to begin with the paid challenges detailed in the pricing section.
Payout Schedule Details
Mega Funded implements a bi-weekly payout schedule for its traders. This schedule ensures that traders can receive their earnings regularly, allowing for timely reinvestments or withdrawals.
Pros & Cons of Mega Funded
- Quick and straightforward process to start trading.
- Utilizes Eightcap, renowned for excellent spreads and commissions.
- Up to 90% for 2-step challenges.
- Bi-weekly payouts ensure traders receive earnings on time.
- Trade Forex, Indices, Metals, and Cryptocurrencies.
- Offers unlimited trading days for both evaluation and funded accounts.
- Platform is praised for its professionalism and ease of use.
- No details on company owners.
- Unclear refund policy.
- Requires initial financial commitment.
- $7 per lot can be costly for frequent traders.
Insufficient details on customer support effectiveness.
Mega Funded FAQ Section
Partnered with Eightcap as their broker, Mega Funded offers leading spreads and commissions. For more details, visit Eightcap’s trading conditions.
Copy trading between personal accounts is allowed, but copy trading from third-party IP addresses is strictly prohibited.
Yes, weekend and overnight holding of trades is permitted.
Mega Funded’s 1-phase and 2-phase evaluation programs come with no ongoing fees.
The Scale-Up plan allows traders to expand their trading activity, potentially receiving up to $2 million by increasing 20% of the initial balance per month. Eligibility requirements include:
Receiving at least four consecutive payouts.
Ending the last trading cycle in profit.
Start your trading journey today!
