Wall Street Funding is a proprietary trading firm that offers simulated funded accounts up to $100,000, with three core funding challenges traders can pick from based on their preferences.
The firm’s fees and funded accounts are generally accessible to beginner prop traders. However, the lack of reputable reviews and security features complicate things for prospective clients.
How good are the features offered by Wall Street Funded and is this firm worth your time and money? – Our in-depth review will show you the various features, fees, instruments and platforms offered by the firm in order to decide whether Wall Street Funded is a good choice for your trading goals.
Pros and cons of Funds for Traders prop firm
Pros
Smallest funded account starts at $5,000
5 available languages
3 types of funding challenges
No MetaTrader 4
$100,000 maximum funding challenge
Cons
Only simulated funds
Lack of meaningful security features and reviews
Limited operational track record
Safety of Wall Street Funded – 0
Safety is one of the most important issues when it comes to prop trading firms. For this reason, many traders tend to check for reviews on Forex Peace Army, which is a review aggregator for forex prop and brokerage firms.
Unfortunately, Wall Street Funded, which was launched in 2023, does not have a dedicated review page on the website and is only rated on Trustpilot, where it maintains an average score of 4.8 out of 5, based on 330 reviews. While this is an exceptionally high rating, Trustpilot reviews are typically not the most reliable when it comes to prop firms.
The lack of operational experience is also a factor that can be troublesome for prospective traders, as the firm has only been around for a year.
All in all, security is one of the biggest issues when it comes to assessing Wall Street Funded.
Wall Street Funded capital allocation and maximum funding – 3
The funding provided by prop trading firms is typically divided into different packages, based on how much buying power a trader needs.
The lowest and highest funding levels offered by Wall Street Funded are $5,000 and $100,000, respectively.
However, it must be noted that the maximum simulated funding available using multiple challenges is $400,000, while the scaling plan can offer as much as $2 million.
It is also worth noting that the $5,000 tier is only available on the Classic evaluation challenge, with the Ultra and Rapid evaluations starting with $10,000 in funding.
$100,000 is also not a particularly high funding ceiling, as many competing firms offer $200,000, $500,000, or even $1 million and more as the highest possible amount of funding a trader can obtain without scaling. This can be an issue for clients who wish to gain access to higher amounts of funding.
Wall Street Funded assets – 3.5
As a forex prop firm, Wall Street Funded offers major, minor and exotic currency pairs for trading. However, its arsenal of asset classes does not stop there. The firm also offers commodities, metals, indices and cryptocurrencies for trading.
The total number of instruments available at Wall Street Funding is over 100, which is generally in line with the competition, as prop firms rarely offer stocks for trading.
The spreads on each instrument vary greatly and one important issue users may have with the platform is the absence of detailed asset breakdown on the official website, which is an issue of transparency that is worth considering.
Wall Street Funded rules and limitations – 2.8
Prop trading firms provide funded accounts in exchange for often stringent rules and limitations traders are required to follow in order to maintain access to their accounts.
The rules specify the profit targets, as well as the daily and maximum drawdown limits traders must adhere to – otherwise they will not be able to pass the funding challenge, regardless of the size of the account.
Each of the three funding challenges have different rules and requirements. We can review the terms and limits enforced by Wall Street Funded in more detail in the sections below.
Rapid evaluation
The following rules apply to the Rapid evaluation, which is a single-step challenge offered by Wall Street Funded:
- 10% profit target
- No minimum trading day requirement
- 4% daily loss limit
- 6% maximum drawdown limit
- 1:30 maximum leverage on forex pairs
- 80% profit share
- No weekend trading allowed
- Hedging, tick scalping and HFT are not allowed
- EAs allowed on Phase 1
While the Rapid evaluation is fast, the drawdown limits are quite strict and the prohibition of hedging and scalping strategies also limits the strategy options for traders.
Classic evaluation
The Classic evaluation is the most popular funding challenge offered by Wall Street Funded and the following terms and rules apply:
- 8% Phase 1 profit target
- 5% Phase 2 profit target
- No minimum trading days
- 5% daily loss limit
- 8% maximum drawdown limit
- 80% profit split
- Payouts every 10 days
- Weekend trading not allowed
- Hedging, tick scalping and HFT are not allowed
- EAs allowed on Phases 1 and 2
The profit targets for Phases 1 and 2 are different, as are the daily and maximum loss limits. More frequent payouts also make the Classic evaluation more convenient for traders that are less concerned about the speed of the evaluation, as opposed to the frequency of profit payouts.
Ultra evaluation
The Ultra evaluation program is also a two-step challenge that comes with the following requirements:
- 10% profit target for Phase 1
- 5% profit target for Phase 2
- 5% daily loss limit
- 10% maximum drawdown limit
- 1:50 maximum leverage for forex pairs
- 80% profit split
- Payouts every 10 days
- Hedging, tick scalping and HFT are not allowed
- No weekend trading allowed
- EAs allowed on Phases 1 and 2
The Ultra evaluation program offers higher leverage on forex pairs and indices, while the profit targets for Phases 1 and 2 are also wider than the Rapid and Classic evaluations.
Overall, the terms and rules offered by Wall Street Funded are diverse enough for traders to have some choices, but are ultimately comparable to many competing prop firms as well.
Wall Street Funded fees – 3
Aside from the profit split, account fees also generate revenue for prop trading firms. However, in many cases these fees are fully refundable in the event of the trader completing the evaluation challenge.
The evaluation challenges frequently go on sale and traders can acquire them at a discounted price by using a code provided on the official Wall Street Funded website.
We can look at the exact fees charged for each of the accounts in the following sections.
Rapid evaluation fees
The following fees apply to the Rapid evaluation challenges:
- $119 for the $10,000 account
- $259 for the $25,000 account
- $379 for the $50,000 account
- $589 for the $100,000 account
The Rapid evaluation is the most expensive challenge available at Wall Street Funded, as it is also the fastest.
The fees for the Ultra evaluation are the same as the Rapid package while the Classic evaluation introduces a $5,000 funding tier, which is the most affordable challenge available at Wall Street Funded and costs $89 to unlock.
Wall Street Funded platforms – 3.5
While MetaTrader 4 may be the most popular forex trading platform on the market, Wall Street Funded does not offer MT4. Instead, the firm grants access to cTrader and DxTrade, which are decent platforms in their own right.
However, the absence of MT4 may be inconvenient for those traders that have extensive knowledge of and experience with the platform.
On the other hand, a mobile trading platform is also available, while additional pieces of software, such as performance-managing apps and other miscellaneous pieces of software are not offered.
Wall Street Funded profit-sharing – 3
Profit-sharing agreements play an important role in the prop trading process, as they determine how much of their profits traders can keep.
Typically, prop firms offer a profit split of 80-90% and Wall Street Funded also falls under that category. The 80% profit split can be scaled up to 95% after months of successful withdrawals.
In this regard, Wall Street Funded offers a slightly higher profit share, with the ability to get paid every 10 days.
As for the payment channels, wire and crypto transfers, as well as Rise and Astropay, are available to all Wall Street Funded clients.
Education and trading tools at Wall Street Funded – 1.8
Wall Street Funded offers no educational content for beginner traders. The lack of a trading course and webinars may make Wall Street Funded inaccessible to beginner traders, who may not be well-versed in the process of prop trading.
On the other hand, cTrader offers plenty of technical indicators and tools for traders to use to their advantage.
Overall, the lack of educational materials is a factor to consider, especially for beginner traders.
Wall Street Funded customer support – 2.4
Wall Street Funded can be contacted by active and prospective clients using the live chat function available through the dashboard, or by using the official support email provided on the ‘Contact’ page of the Wall Street Funded website.
Furthermore, the firm has a Discord channel where clients can exchange ideas and discuss their trades, as well as their experiences with Wall Street Funded.
It must be noted that the customer support is available 24/5 and a hotline is not mentioned on the website, which can be an issue for those who wish to communicate with a real representative.
FAQ on Wall Street Funded prop firm
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