Introduction
Welcome to our review of Fintokei. I have been trading with Fintokei and looking into every aspect of the service they offer to traders so that I can provide the information you need to decide if they are the right prop firm for you.
Overview
Based in the Czech Republic and backed by Purple Trading, Fintokei is a trading education and evaluation firm that started operations early in 2023. They say their mission is to “create a platform that empowers traders to reach their full potential and to always have one more step to aspire to”.
First impressions of Fintokei are very good, their website is well designed and professionally written, and they’ve made a good start on Trustpilot with an average score of 4.8 from 236 reviews.
Funding Programs
Fintokei have three funding programs to choose from: Start Trader, Pro Trader, and Swift Trader.
Start Trader
The Start Trader Program is Fintokei’s 3-step evaluation, which is aimed at novice traders. The program is available in three account sizes: €20K for a €119 fee, €50K for a €244 fee, and €100K for a €419 fee.
To pass phase one of the evaluation the trader must make 2% profit, to pass phase two the trader must make 3% profit, and to pass phase 3 the trader must make 6% profit. The trader is required to complete a minimum of 3 trading days during each evaluation phase, and there is a consistency rule during the evaluation phases which says that the trader cannot make more than 40% of the profit target in a single day.
The maximum drawdown limit is 10% and there is a daily 5% loss limit.
Leverage is up to 1:25. There is a 180 day time limit to pass, and the profit split is 50% to the trader. There is a consistency rule on the live account which says that the trader cannot make more than 1% of the initial account balance in a single day. Payouts are bi-weekly and with consistently profitable trading the account can scale to 10 times the initial account size.
Pro Trader
The Pro Trader Program is Fintokei’s 2-step evaluation. Available in account sizes ranging from €10K for a €99 fee to €400K for a €2399 fee, the Fintokei Pro trader account is competitively priced.
To pass phase one of the evaluation the trader must make 8% profit and to pass phase two the trader must make 5% profit.
The maximum drawdown limit is 10% and there is a daily loss limit of 5%.
Leverage is up to 1:100, there is no time limit to pass, and the evaluation fee is refunded with the first profit split from the live account. News trading, weekend holding, and EA’s are allowed.
Payouts are bi-weekly with an initial profit split of 80% which increases to 95% with scaling.
Swift Trader
The Swift Trader Program is Fintokei’s 1-step evaluation, which is available in account sizes ranging from €1000 for a €79 fee, to €50,000 for a €2,699 fee.
To pass the evaluation and receive the first profit split the trader must make a 10% profit on the account.
The maximum drawdown limit is 10% and there is no daily drawdown limit.
There are no minimum trading days and there is no time limit to pass the evaluation.
Leverage is up to 1:50 and news trading, weekend holding, and EA’s are allowed.
Once the first profit target is reached payouts are bi-weekly, and the initial profit split is 50%. The profit split increases each time the account is scaled up, to a maximum split to the trader of 90%.
Symbols & Trading Costs
Fintokei have a large selection of symbols to trade.
With more than 50 Forex pairs including the major crosses and some exotics, the most popular metals, oil, natural gas, and a good selection of stock indices, there is something to trade at Fintokei for most traders.
Spreads are good but not the best in the industry, and commissions are a little high, at $6 per lot round trip on all symbols.
Overall this is a good selection of symbols, with reasonable trading costs.
Scaling Plan
The Fintokei scaling plan is one of the best in the industry, let’s take a look!
The scaling plan is consistent across the three funding models. In order to scale an account up the trader must make at least 10% profit over a minimum of two months.
When the scaling target is achieved the trader can request a scale up, which will increase the account balance and profit split in line with the scaling plan for that account.
All accounts can scale up 8 times, to a maximum of 10 times the initial starting balance. On the third scale up the trader is given an opportunity to apply for a contract with Fintokei’s portfolio management company.
Dashboard
The Fintokei trader dashboard is simple and easy to use.
At the top of the dashboard there’s a graph which shows the account balance, equity, and daily loss limit in relation to the profit target and max loss limit.
Scroll down and you’ll find panels showing the traders progress towards the evaluation objectives, a panel showing the key trading statistics for the account, and another panel showing some of the key rules for the account.
There is a separate page which shows open trades and the trade history, unfortunately this is not well optimised for mobile.
Overall this is a nice dashboard from Fintokei
Education
I think it’s important that prop firms make an effort to educate their traders, and Fintokei have made a strong start here.
On their website they have a number of educational blog articles for traders to read, covering a range of topics from beginner mistakes to swing trading strategies and opinions on how the US election will affect the markets.
On the trader dashboard there’s a Daily Financial News video which is updated daily and covers key events that are driving the markets that day, and there’s a video education courses section which contains video courses covering everything from Forex basics, to candlesticks, indicators, stock market trading, and advanced techniques.
Customer Service
Customer support can be reached via email or live chat and is only available between 0900-1700 CET.
Conclusion
As a broker backed firm, Fintokei have arrived in the industry with an already solid reputation inherited from Purple Trading. It’s unlikely that a large broker is going to enter the prop firm space ill-prepared, so you can be confident that Fintokei is a trustworthy firm.
The website and dashboard are well designed and everything at Fintokei feels professional.
Pricing is a little on the high side, as are commissions, but Fintokei has one of the best scaling plans in the industry with a path to potentially trade for their portfolio management company, and some good educational content for their traders.
There are three distinct funding programs. Start Trader, which is a three step evaluation aimed at newer traders, Pro Trader, which is 2-step evaluation similar to what you can find at most other firms, and Swift Trader, which is a 1-step evaluation. I recommend the two-step, which offers the most value. I think the 50% profit split makes the Start Trader program difficult to recommend.
Overall Fintokei is a great addition to the prop space, and as they’re backed by a broker they are likely to be here for the long haul. From what I have seen so far I feel confident in recommending Fintokei as one of the top firms in the industry, right up there with the likes of FTMO, The5ers, and FundedNext.
