Despite limited public details, Waka Funding has garnered positive reviews for its swift payment processes and responsive customer support.
Traders seeking a straightforward evaluation process and diverse instruments might find Waka Funding suitable.
Sign up now and accept the Waka Funding challenge!
Latest Offers and Promotions
At the time of writing, no coupon codes were available on their website. For current promotions, visit the official Waka Funding site or contact their customer support.
Waka Funding Prop Firm Overview
Waka Funding is known for its commitment to offering a robust platform and excellent trading conditions. While detailed information is scarce, some key features set it apart.
Official Name
The firm’s official name is Waka Funding.
Company Location
The company’s address is not publicly disclosed.
Year Established
The establishment year is not available.
Registration Details
Waka Funding is registered in the United Kingdom.
Ownership Information
Ownership details are not disclosed on their website.
Trading Platforms
Details about the trading platforms available at Waka Funding are not publicly disclosed or accessible at this time.
Available Trading Instruments at Waka Funding
Waka Funding offers a variety of trading instruments to meet different trader preferences, including:
- Forex
- Commodities
- Indices
- Metals
- Crypto
Payment Methods at Waka Funding
Waka Funding supports multiple payment methods:
- Bank Transfer
- Cryptocurrency
Account Size Options
Waka Funding provides several account sizes to accommodate different trading needs:
- $25,000
- $50,000
- $100,000
- $200,000
Profit Splits
Waka Funding employs a tiered profit split structure that improves with time and performance:
- Initial split: 50%
- Incremental increases bi-weekly, up to a maximum of 80%
Profit Targets
The profit target for Waka Funding’s evaluation process is set at 10%.
Waka Funding Prop Firm: Loss and Drawdown Limits
Waka Funding enforces specific risk management thresholds:
- Maximum Daily Loss: 4%
- Total Loss Limit: 8%
Waka Funding Prop Firm’s Minimum/Maximum Trading Day Requirements
Waka Funding allows for flexible trading schedules:
- Minimum Required Trading Days: None
- Maximum Allowed Trading Days: Unlimited
Available Steps for Waka Funding Challenges
Waka Funding has a streamlined challenge setup:
- Type of Challenge: Single-step Evaluation
- Target Profit: 10%
- Drawdown Limits: Specific to account types but includes up to 4% daily and 8% total.
Cost of Joining Waka Funding Prop Firm’s Challenge
Pricing details for the challenges are:
- $25,000 Account: $275
- $50,000 Account: $375
- $100,000 Account: $575
- $200,000 Account: $975
Fee Structure at Waka Funding Prop Firm
Waka Funding implements a straightforward fee system for its traders. A commission of $7 per lot is charged for transactions, which helps maintain the firm’s robust trading infrastructure. For trading other instruments, Waka Funding only applies the market spread and does not impose additional commissions, allowing traders to engage with a variety of assets without worrying about extra costs.
Refund Policy Overview at Waka Funding
It’s important for traders to note that Waka Funding maintains a strict no-refund policy. Fees once paid to the firm are non-refundable under any circumstances. This policy emphasizes the commitment and seriousness of engaging with Waka Funding’s trading services.
Trial Programs at Waka Funding
As of the current update, Waka Funding does not provide any free trial programs for its trading platforms.
Withdrawal Timelines at Waka Funding
Waka Funding offers a well-structured payout schedule to ensure traders can access their earnings efficiently. The initial withdrawal can be made after the first 10 days of trading, providing a quick turnaround for accessing profits. Subsequent withdrawals are facilitated every 5 trading days, supporting consistent cash flow for active traders.
Waka Funding FAQ
Yes, hedging is allowed at Waka Funding. However, it is important to note that using multiple accounts to hedge entries against each other is prohibited. This includes hedging between clients. Hedging within a single account to protect a position is fully permitted. It is strictly forbidden to hedge two different accounts or individuals by taking opposite positions in each to bypass the rules.
Yes, news trading is permitted at Waka Funding.
For Waka Funding Challenge/Evaluation accounts, traders are given leverage of 1:100. For real accounts, the leverage is set at 1:30, which aligns with what institutional traders typically have access to.
At Waka Funding, with Eightcap, there is a $7 commission on currency pairs per lot. If partial lots are traded, the commission is proportional. Indices, commodities, and other instruments only incur market spread with no additional commissions.
The 33% Consistency Rule ensures that no single transaction exceeds 33% of the requested profit during withdrawal. This rule promotes sound risk management and prevents excessive risk-taking, especially before significant news events.
Implementation at the Funding Stage:
The rule applies during the funding stage, using volume bands to maintain consistent risk.
For example, if a trader’s average lot size over a month is 3 lots per trade, a trade of 10 lots before payday would breach the rule by exceeding 200% of the average volume. Similarly, a significantly smaller trade, such as one 75% less than the average, would also be excluded.
The formula used is:
Average Lot Size: Total lots traded / Total transactions
Upper Limit: Average lot size x 2
Lower Limit: Average lot size x 0.25
Transactions are aggregated within a 30-second window to ensure volume and profit consistency.
Outcome:
Transactions outside the acceptable range are excluded, but the account remains active, with compliant transactions processed as normal.
This rule aims to balance competitiveness with long-term sustainability and market presence.
While some traders may find this rule restrictive, it encourages better trading habits and adherence to planned strategies.
