Introduction
BrightFunded is a well-established prop firm where traders can get funded with up to $400K in simulated funds and trade a wide range of instruments on their bespoke trading platform.
Led by CEO Jelle Dijkstra, and operating out of offices in Dubai and Amsterdam, BrightFunded was founded in 2023 and has built a strong reputation amongst traders as a reliable firm that provides a professional experience and fast payouts.
First impressions of the firm are great, they have one of the best websites in the industry, and their Trade2Earn loyalty program is nice and unique touch.
Funding Programs
At BrightFunded there is only a 2-step funding model available, with each account size being named after a planet in our solar system.
- Time Limit: Unlimited
- Minimum Trading Days: 5 minimum days for each evaluation phase
- Maximum Drawdown Limit: 10%
- Daily Drawdown Limit: 5%
- Phase One Profit Target: 8%
- Phase Two Profit Target: 5%
Once the trader has passed the evaluation the first profit split can be requested 30 days after placing the first trade, with bi-weekly profit splits thereafter. The initial profit split is 80% and this increases to 90 and 100% with scaling.
Add-ons are available for things such as a 90% profit split, and immediate bi-weekly or weekly payouts.
News Trading Rules
During the evaluation phases the trader is allowed to trade around news events without any restrictions.
On the funded ‘Funded Star’ account, the trader must not execute any market order, stop loss, take profit, limit order, or stop order during the 5 minutes before and after a high impact news release. This means that if a high impact news release is scheduled for 12:30, the trader must not execute any orders from 12:25 to 12:35.
If a trader does trade during this time it is considered a soft breach and will not result in the loss of the trading account. If the trader makes a profit from a trade executed during the news window then that profit will be deducted from their account, and a loss will not be compensated.
To accommodate swing traders, profits from trades that have a minimum duration of 48 hours are exempt from the news trading restrictions.
Scaling Plan
BrightFunded allow traders to scale their accounts up infinitely, without any upper limit!
Every funded account is evaluated over a four month period, starting from when the first trade is placed.
- The trader must be profitable for at least two of the four months, and must achieve at least a 10% profit over the four month review period.
- The trader must receive at least two payouts within the review period, and the account balance must be positive when the scale up is requested.
Once all of the scale up requirements are met, the account balance will be increased by 30% of the initial balance.
After the first scale up the trader’s profit split is increased to 90%, and after the third scale up the profit split is increased to 100%.
Symbols & Trading Costs
There is a huge selection of symbols to trade at BrightFunded, from Forex to Indices, commodities, metals, and a large selection of cryptocurrencies, there is definitely something here for the vast majority of traders.
Spreads are very good and commissions are low at $3 per lot on Forex. There is no commission on indices.
Trading Platforms
At the time of writing the only trading platform available at BrightFunded is their own bespoke platform, which is actually very good. It’s like a cross between cTrader and TradingView, which is no bad thing. The only problem I have with it is that it does disconnect fairly often and this can be annoying, but I’m told it’s for security purposes, so who am I to argue with that.
I have been told that very soon they will be implementing cTrader, which is great news, as cTrader is arguably one of the best trading platforms available in the CFD trading space.
My experience with the BrightFunded trading platform has been good, the execution is great and there is plenty of functionality that traders will be used to from cTrader and TradingView.
Trader Dashboard
The trader dashboard is quite simple, it doesn’t have the detailed trading stats or the PnL graph that many of the leading firms include in their dashboards, but it is very neatly designed and includes the key information that the trader needs to know such as their progress towards the evaluation objectives and trade history.
Customer Support
Customer support is most accessible via live chat, and they’re both very quick to respond and knowledgeable. Traders can also get more basic support on Discord where the BrightFunded mods are active, polite, and quick to respond.
Trade2Earn Loyalty Program
Trade2Earn is a unique loyalty program for traders at BrightFunded, which pays traders tokens for every trade they execute, whether it wins or loses.
Tokens can be used to redeem vouchers for discounts off new evaluations, to increase profit share, increased challenge fee refund, increased drawdown limits, reduced evaluation phase profit targets, and even free evaluations.
And traders don’t need to do anything special to earn these rewards, simply place trades and watch their Trade2Earn token balance increase automatically!
Of course, it’s important to focus on trading profitably… We’re trading for money, not tokens! But these tokens are a nice additional reward for active traders.
Conclusion
I really like BrightFunded. Of course our advice is always to go with the most well-established firms, but there is plenty of room in this industry for other well-run firms, and BrightFunded seems to be one of those and I expect good things from them.
A key thing for any firm is that they present themselves and communicate their rules clearly and professionally, and BrightFunded do just that. Their website is excellent, one of the best in the industry, and their communication across all platforms is great.
The funding program is a simple 2-step model, much the same as you can find elsewhere, but BrightFunded do have a couple of unique things going for them…
Scaling is unlimited, so theoretically a trader can continue to scale there accounts up to truly huge numbers, and the Trade2Earn loyalty program is a great way to reward traders for being active, whether they win or lose.
If you’re looking for a new firm to trade with, and you value transparency and professionalism, then BrightFunded might be a good fit for you. I highly recommend checking them out!
