Economy
Should You Start with a Funded Trading Program?
If you’ve been exploring the world of trading—whether you’re just starting out or already have experience—you’ve probably come across the concept of funded trading programs. These programs are becoming increasingly popular, and for good reason. They offer traders a chance to prove their skills and trade with someone else’s capital, rather than risking their own money. But is it the right path for you? Let’s dive into why funded trading programs might be the smartest move for your trading journey.
What Is a Funded Trading Program?
A funded trading program is a type of partnership between a trader and a proprietary trading firm. The trader usually goes through an evaluation phase to prove their skills and discipline. Once they pass, they receive a funded trading account with a set amount of capital provided by the firm. The trader then earns a share of the profits they make, while the firm handles the losses.
Why Beginners Should Consider Funded Trading
One of the biggest hurdles for new traders is risk. When you’re still learning the ropes, it’s easy to blow through your personal savings trying to figure out what works. Funded programs allow beginners to develop and test their trading strategies with significantly less financial risk. Here are a few key benefits:
1. Learn Without Risking Your Own Capital
Most funded programs require you to pay a small fee to take an evaluation, but after that, you’re trading with the firm’s money. This can take a lot of the emotional stress out of trading and help beginners stay more focused and disciplined.
2. Structured Environment
Funded programs often have rules in place for things like drawdowns, daily losses, and risk management. For beginners, this structure is incredibly helpful in developing good habits from the start.
3. Faster Learning Curve
With real-time market exposure and feedback, new traders can learn more quickly. Instead of being stuck in demo accounts or risking too much too soon, they get a guided experience with real consequences and real rewards.
Why Experienced Traders Can Benefit Too
Even seasoned traders often face the challenge of limited capital. Funded programs offer an attractive way to scale their strategies without having to put more of their own money on the line. Here’s how:
1. Access to Larger Capital
Many traders have a winning system, but not enough capital to see meaningful returns. Funded programs can provide accounts ranging from $25,000 to $200,000 or more, giving traders the power to earn bigger profits.
2. No Need to Risk Personal Funds
Risk is always present in trading, but with a funded account, experienced traders can focus on execution without worrying about personal losses. This freedom can improve decision-making and reduce emotional trading.
3. Earn a Professional Income
With profit splits often ranging from 70% to 90%, consistent traders can earn a significant income. Many funded traders eventually turn it into a full-time career.
Things to Look for in a Funded Program
Before jumping into a funded trading program, it’s important to choose the right one. Look for:
- Transparent Rules: Make sure the program clearly outlines its rules, fees, and profit split.
- Reasonable Challenge Conditions: Some firms have evaluation phases that are too difficult or unrealistic. Find one that balances challenge with opportunity.
- Good Customer Support: A responsive support team is crucial when you need answers quickly.
- Fast Payouts: Check reviews or testimonials about how fast and consistently they pay traders.
Why TenTrade Is a Great Place to Start
If you’re looking for a trustworthy and beginner-friendly funded trading program, TenTrade is a fantastic choice. Their platform is easy to use, and their challenge structure is fair and accessible. TenTrade also offers fast payouts and excellent support, making them a favorite among new and seasoned traders alike.
Common Myths About Funded Trading
Let’s bust a few myths that might be holding you back:
- “Only pros can pass the challenge.” Not true. Many beginners have passed on their first or second try. If you have discipline and follow the rules, you’ve got a solid shot.
- “They never pay out.” Reputable programs like TenTrade have a long track record of timely and fair payouts.
- “It’s just a scam to collect fees.” While there are bad actors in any industry, funded trading as a whole is a legitimate and fast-growing field. Do your research and choose a trusted provider.
Final Thoughts
Funded trading programs offer a rare opportunity: trade with someone else’s money, keep most of the profits, and limit your personal risk. Whether you’re just getting started or looking to scale up, they can be a game-changer. With the right mindset, discipline, and a good platform like TenTrade, you can take your trading skills to the next level without taking on the financial stress that usually comes with it.
So, should you get started with funded trading? If you’re serious about becoming a better trader and want to accelerate your progress, the answer is a definite yes.
By Dipo Olowookere
A 1.08 per cent growth was further printed by the Nigerian Exchange (NGX) Limited on Friday on improved appetite for Nigerian stocks.
Data showed that the insurance sector lost 0.61 per cent yesterday due to profit-taking as the energy space gave up 0.08 per cent, while the commodity counter closed flat.
However, the industrial goods landscape appreciated by 2.06 per cent, the banking index improved by 1.31 per cent, and the consumer goods sector expanded by 0.83 per cent.
At the close of business on Customs Street, the All-Share Index (ASI) increased by 1,563.92 points to 147,040.07 points from 145,476.15 points and the market capitalisation went up by N996 billion to N93.722 trillion from N92.726 trillion.
UAC Nigeria led the advancers’ log yesterday after it grew by 10.00 per cent to N96.80, Transcorp Hotels jumped by 9.71 per cent to N172.80, Royal Exchange appreciated by 8.89 per cent to N1.96, Ikeja Hotel soared by 8.74 per cent to N31.10, and Veritas Kapital leapt by 8.07 per cent to N1.74.
On the flip side, Union Dicon declined by 10.00 per cent to N6.30, ABC Transport slipped by 9.88 per cent to N3.10, AXA Mansard depreciated by 7.19 per cent to N12.90, FTN Cocoa lost 4.62 per cent to trade at N4.75, and Guinea Insurance dropped 3.36 per cent to finish at N1.15.
A total of 38 stocks ended on the gainers’ table and 17 stocks finished on the losers’ table, representing a positive market breadth index and strong investor sentiment.
Traders transacted 361.6 million equities for N14.8 billion in 21,051 deals yesterday versus the 1.9 billion equities worth N19.2 billion traded in 23,369 deals a day earlier, showing a decline in the trading volume, value, and number of deals by 80.97 per cent, 22.92 per cent, and 14.20 per cent, respectively.
The busiest stock for the session was Zenith Bank with 59.5 million units worth N3.6 billion, Access Holdings traded 46.1 million units valued at N973.0 million, Fidelity Bank exchanged 29.4 million units for N560.4 million, FCMB transacted 27.9 million units worth N293.9 million, and Tantalizers sold 13.0 million units valued at N29.8 million.
By Adedapo Adesanya
Energy stocks influenced the 4.76 per cent loss recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, December 5.
The culprits were the duo of 11 Plc and Nipco Plc,with the former shedding N32.17 to end at N291.83 per share compared with the previous day’s N324.00 per share, and the latter down by N21.00 to sell at N195.00 per unit versus the previous session’s N216.00 per unit.
Consequently, the NASD Unlisted Security Index (NSI) slumped by 170.16 points to 3,401.37 points from 3,571.53 points and the market capitalisation lost N101.81 billion to close at N2.035 billion from the N2.136 trillion quoted in the preceding session.
The OTC securities exchange suffered the decline yesterday despite the share prices of three companies closing green.
Central Securities Clearing System (CSCS) Plc was up by N1.80 to close at N39.80 per share compared with Thursday’s price of N38.00 per share, Air Liquide Plc appreciated by N1.09 to N11.99 per unit from N10.90 per unit, and FrieslandCampina Wamco Nigeria Plc grew by 78 Kobo to N56.57 per share from N55.79 per share.
During the session, the volume of transactions rose by 6,885.3 per cent to 18.2 million units from 4.3 million units, the value of transactions ballooned by 10,301.7 per cent to N389.7 million from N347.2 million, but the number of deals declined by 29.7 per cent to 26 deals from 37 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc ended the day as the most traded stock by value on a year-to-date basis with 5.8 billion units worth N16.4 billion, followed by Okitipupa Plc with 170.4 million units valued at N8.0 billion, and Air Liquide Plc with 507.5 million units worth N4.2 billion.
InfraCredit Plc also finished the day as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.
By Adedapo Adesanya
The Naira depreciated further against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, December 5, as FX demand pressure mounts.
The Nigerian currency lost N2.60 or 0.18 per cent against the greenback to close at N1,450.43/$1 compared with the previous day’s N1,447.83/$1.
Equally, the domestic currency declined against the Pound Sterling in the official forex market during the session by N4.48 to trade at N1,935.45/£1, in contrast to Thursday’s closing price of N1,930.97/£1 and shrank against the Euro by 43 Kobo to end at N1,689.17/€1 versus the preceding session’s rate of N1,688.74/€1.
Similarly, the local currency performed badly against the US Dollar at the GTBank FX counter by N2 to close at N1,455/$1 versus Thursday’s N1,453/$1 but traded flat at the parallel market at N14.65/$1.
As the country gets into the festive period, pressure mounted on the local currency reflecting higher foreign payments and lower FX inflows.
However, there are expectations that the Nigerian currency will be stable, supported by interventions by to the Central Bank of Nigeria (CBN) in the face of steady dollar Demand and inflows from Detty December festivities that will give the Naira a boost after it depreciated mildly last month.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450/$1 next week, buoyed by improved FX interventions by the apex bank.
As for the crypto market, it was down yesterday due to profit-taking associated with year-end trading. However, the December 1-Year Consumer Inflation Expectation by the University of Michigan fell to 4.1 per cent from 4.5 per cent previously and 4.5 per cent expected. The 5-Year Consumer Inflation Expectation fell to 3.2 per cent from 3.4 per cent previously and 3.4 per cent expected.
With the dearth of official economic data of late, these private surveys have taken on a new level of significance and the market banks of them to make decisions.
Cardano (ADA) depreciated by 5.7 per cent to $0.4142, Dogecoin (DOGE) slid by 5.1 per cent to $0.1394, Ethereum (ETH) dropped by 3.9 per cent to $3,039.75, Solana (SOL) declined by 3.8 per cent to $133.24, and Litecoin (LTC) fell by 3.7 per cent to $80.59.
Further, Bitcoin (BTC) went down by 2.6 per cent to sell at $89,683.72, Binance Coin (BNB) slumped by 2.2 per cent to $883.59, and Ripple (XRP) shrank by 2.1 per cent to $2.04, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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