Funded Engineer is a Forex prop trading firm offering funded accounts ranging from 6,000 USD to 300,000 USD with a scaling plan of up to 780,000. The firm’s origins are obscure as there are not many details on the website. The fees are low as the firm has started 35% discounts for 3 of its accounts.
In our Funded Engineer review, we are going to assess the firm’s safety, assets, rules, funding options, platforms, fees, and many more.
Pros & cons of Funded Engineer prop firm
Pros
- Offers a wide range of funding, starting from $6,000 to $300,000, with a scaling plan up to $780,000
- Offers access to MetaTrader 4, cTrader
- up to 90% profit sharing, with quick withdrawals processing within 48 hours
Cons
- strict daily loss and maximum drawdown limits
- The firm’s short operational history since 2023 and lack of transparency regarding its headquarters raise safety concerns
- Educational resources and tools are limited
Safety of Funded Engineer – 1.5
Funded Engineer reviews are lacking on the FPA platform but the firm has a 4.5 score on Trsutpilot. However, 8% of these reviews are 1-star, and 86% are 5-star indicating the firm should be somewhat reliable. The firm has also been around for a very short time from 2023 giving it very low experience. The partner broker of Funded Engineer prop firm is a Purple Trading Seychelles which is a Forex and CFDs broker based and regulated in Seychelles. The broker also offers services in the EU under a Cyprus CySEC license. Overall, the Funded Engineer only gets points in the broker’s department. The firm does not provide its address or hotline support which raises red flags about its safety.
The firm gets a 1.5 score in this section.
Funded Engineer Funding and maximum capital allocation – 3
Funded Engineer funded programs offer a wide range of funding starting from 6,000 USD with a maximum of 300,000 USD. Funded Engineer fundings do not offer lower than 6k accounts which is a slight drawback for beginner traders. The firm offers the same funding options for all account types. Funded Engineer challenge accounts include Turbo challenge, standard challenge, superior challenge, and superior lite challenges.
Funded Engineer scaling plan has several tiers depending on the successful trading months of a trader starting from 4 months. The first tier is Geared which offers a 40% increase over the initially funded amount after 4 months of profitable demo trading. The Geared Up scaling tier requires 8 months of profitable demo trading and adds 80% to the initial balance. The Geared Elite tier requires 12 months of simulated profitable trading and adds 120% of the initial balance. The final tier scaling tier is the Engineered tier and requires 16 months of profitable simulated trading to increase the initial balance by 160%. So, if a trader purchases a 300k account and is profitable for 16 months they can add another 480k increasing the total funding amount to 780,000 virtual funding. All accounts are virtual accounts and traders never trade on live accounts with Funded Engineer which has become very common occurrence with prop firms.
The firm gets a 3 score in this section for lacking options for 1k and 1m funding options.
Funded Engineer Assets – 3.5
Funded Engineer prop firm offers Forex pairs, commodities, indices, and cryptos. The firm does not provide any info regarding spreads so we checked their partner broker website. Funded Engineer prop trading should be offering one from two account types offered by Purple Trading Seychelles with standard offering spreads from 1 pip and raw account spreads from 0 pips but the commission of 5 USD per side (10 USD round turn). The commission for 0 pips is expensive as reliable brokers offer 7 USD or lower commission.
The leverage offered by Purple Trading is up to 1:500 but Funded Engineer only provides 1:100 leverage to their prop traders.
The firm gets a 3.5 score in the assets section for not offering stocks and other assets.
Funded Engineer Trading rules and limitations – 2.2
Funded Engineer rules are straightforward, traders need to follow daily and maximum drawdown limits which depending on the funded account type are slightly different:
- Turbo challenge daily loss limit – 4%
- Turbo challenge max drawdown – 6%
- Superior challenge daily loss limit – 5%
- Superior challenge max drawdown – 10%
- Superior Lite daily loss limit – 4%
- Superior Lite max drawdown – 8%
- Standard challenge daily loss limit – 5%
- Standard challenge max drawdown – 10%
There are no trading days and time limits for any of the challenges. Traders can hold open trading positions overnight and the firm has a drawdown blocker tool to help traders stay within risk parameters. Funded Engineer allows trading robots or EAs (Expert Advisors) but prohibits several strategies:
- High-frequency trading
- Arbitrage (reverse and latency)
- Multi-account reverse trading
- Tick scalping, and any EA designed to exploit a demo server
News trading is also allowed which is good for news scalpers. The firm gets a 2.2 score in this section for having very strict daily loss and max drawdown limits.
Funded Engineer Fees – 3.5
The firm recently decreased fees for funding programs offering around 35% discount on Superior, Turbo, and Lite challenges. As for the trading commissions, the fee is too high on Purple Trading zero accounts at 10 USD round turn on Forex pairs.
Funded Engineer free trial is not available at the moment and Funded Engineer free repeat is also not accessible. Superior account fees start from 49 USD for the smallest funded account of 6k USD. Turbo challenge starts from 39 USD on 6k accounts and the Lite account requires 49 USD for 6k funding.
The firm has a very flexible fee structure which grants it a 3.5 score in this section.
Funded Engineer Platforms – 4.1
Funded Engineer’s partner broker Purple Trading grants traders access to advanced cTrader and MetaTrader 4 platforms. These platforms come with advanced capabilities including automated trading bots (cBots for cTrader, EAs for MT4). The firm allows traders to access platforms from any device including desktop and mobile. The firm gets a 4.1 score in this section for offering excellent platforms on all devices.
Funded Engineer Profit-Sharing – 5
Funded Engineer profit split starts at 80% and traders can scale it up to 90% which is great. The withdrawals processing takes around 48 hours which is also very common in FX trading. For offering up to 90% profit split under 48 hours the firm gets a 5 score in this section.
Education and trading tools at Funded Engineer – 1.3
The firm lacks educational resources and there are no video tutorials available either. However, there is a trader’s blog that offers trading insights and informative articles about various trading topics. Despite these articles, the blog can not be considered as a full replacement for educational content. The firm provides tools for traders and gains points for offering treading tools and blogs. Funded Engineer gets a 1.3 score in this section.
Customer Support at Funded Engineer – 2.4
Support options from the Funded Engineer include advanced live chat and email support channels. The live chat comes with an inbuilt help center allowing traders to search through FAQs and find answers to almost all general questions which is great. The live chat also offers a search bar to quickly search topics. The website is available in 4 different languages but support only comes in the English language which is a drawback. Overall, the firm gets a 2.4 score in this section for not offering a hotline and multilingual support.
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