FundedElite prop firm offers traders the ability to purchase funded challenge accounts and get funded after they pass the challenge without breaching hard rules and by hitting the profit target. The firm offers several funded account types and allows traders to access popular trading assets, including foreign exchange markets. The firm was recently launched, which raises some questions about its safety and legitimacy, and we decided to take a closer look at the FundedElite proprietary trading firm.
In this FundedElite review, we are going to dissect the firm’s important features such as safety, rules, funding options, support, fees, and more.
Pros & cons of FundedElite prop firm
Pros
- Fast and digital account opening/verification
- Most payment options are free and instant
Cons
- High profit target of 10%
- No Ability to withdraw with $0 fees
- No free trial available
- Lack of educational resources
- High spreads reported by users
- Relatively new firm with limited online reviews
- Limited information on trading platforms
Quick rating of FundedElite and its features
| FPA Score | Not yet rated |
| Year founded | 2023 |
| Headquarters | Latina, Italy |
| Minimum audition fee | 79 USD |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 7,000 USD |
| Maximum funded amount | 200,000 USD |
| Allowed daily loss | 3% |
| Profit target | 10% |
| Maximum trailing drawdown | 8% |
| Profit sharing (Payouts) | 80% (50% for 1st withdrawal) |
| Trading Platforms | MetaTrader 4 |
| Available trading markets | Forex, indices, commodities |
Safety of FundedElite — 1.5
FundedElite reviews are lacking on the FPA, as the firm has very little experience in the industry. It was launched in 2023 and also lacks reviews on the Trustpilot. With around 10% of reviews being negative on the Trustpilot from these few reviews, FundedElite does not seem like the firm you want to throw your money at. FundedElite offers trading services through a regulated broker, Purple Trading, and promises raw spreads, but there is a catch. We investigated the broker and found a multitude of negative comments from traders complaining about super high spreads. So, the firm offers high-spread trading, which is not appealing to scalpers. We need now to also look at the rules of FundedElite to define if it’s possible to use swing trading and day trading strategies. If the firm allows news trading and overnight positions, then swing trading strategies can work.
The firm gets a 1.5 score in this section for offering regulated brokers.
FundedElite Funding and maximum capital allocation — 3
FundedElite funded programs are two, 1-step, and 2-step. Both funded account types come with the same funded options including, 7k, 15k, 25k, 50k, 100k, and 200k. These options are diverse, which is good for attracting traders from all levels of experience. However, FundedElite funding does not include lower amounts to be suitable for absolute beginners, which is a drawback.
FundedElite challenges require traders to pass several phases and achieve profit targets depending on their account to get funded and trade for withdrawable profits.
The FundedElite scaling plan is not active yet and traders are only allowed to combine numerous funded accounts with a maximum ceiling of 600k USD in funding.
The firm gets a 3 score in this section for offering mediocre funding experience.
FundedElite Assets — 2.5
FundedElite prop trading assets are not directly disclosed as the firm’s FAQs section is not working properly, or the firm has not added exact details to it yet. However, we can assume the firm allows access to Forex, indices, and commodities scoring a 2.5 score in this section. The leverage is capped at 1:100.
FundedElite Trading rules and limitations — 2.2
FundedElite rules include a news trading allowance, which is necessary for this firm as scalping strategies are useless in a high-spread environment offered by the firm’s partner broker, Purple Trading. Holding open positions is also allowed on weekends, which is useful for trend followers and swing traders. The firm allows traders to use many trading approaches including martingale systems and copy trading, indicating the firm does not allow traders to access live accounts, and all trading is done via demo accounts.
FundedElite gets a 2.2 score in this section for offering almost average rules.
FundedElite Fees — 1.5
The minimum fee is 79 USD for the 7k 2-step accounts and 90 dollars for the same funded option of 1-step accounts.
FundedElite free trial is not available at the moment, preventing traders from checking the actual trading conditions such as spreads and commissions, which according to many accounts are very expensive.
FundedElite free repeat is available for the first two tries, which could be useful for beginners. Traders will need more than 2 business days to withdraw their profits, which is a downside.
Overall, FundedElite gets a 1.5 score in this section.
FundedElite Platforms — 1.5
FundedElite’s platforms include MT4, cTrader, and PurpleZone as these are the platforms offered by the Purple Trading broker. However, the firm is not specific about which of these platforms it allows traders to access, as it only mentions giving them credentials to the broker’s platform. Web trading platforms are also offered, but they are limited in their functionality and not enough to analyze markets comprehensively. Since the firm does not clarify which platform it offers, it gets a 1.5 score in this section.
FundedElite Profit-Sharing — 1
FundedElite profit split starts at 50% for the first withdrawals and then goes to 80%. The firm lacks 1-2 business days of withdrawal processing times. The withdrawals take around 3 days, which is not good, and the firm gets a 1 score in this section for not offering a higher profit-sharing model.
Education and trading tools at FundedElite — 0
FundedElite does not offer any educational resources, and even the FAQs section is not working properly. There are no trading courses, webinars, or video tutorials to guide beginners towards success. There are also no tools offered to analyze trader’s performance.
The firm gets a 0 score in this section for offering no educational resources.
Customer Support at FundedElite — 2.4
FundedElite offers several support channels, including live chat and email. Both the website and support are only available in the English language, which is a huge drawback for the firm. FundedElite lacks hotline support, which is a red flag as the firm is shy to disclose its phone number. The lack of numerous languages is also a drawback. Overall, the firm gets a 2.4 score in this section for offering an average level of support.
Frequently Asked Questions on FundedElite
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