Who is behind each firm
The leadership of these two firms points to different geographical and strategic hubs within the prop trading industry. AquaFunded is led by Jason Blax and operates out of the United Arab Emirates, specifically from the Dubai Silicon Oasis. This location has become a major center for financial technology and prop firms in recent years. On the other hand, Leveraged is headed by Tal Fromchenko and maintains a dual presence with a head office in Limassol, Cyprus—a traditional stronghold for retail brokerage and financial services—and a registered entity in Saint Lucia. While AquaFunded focuses its identity on the emerging Dubai scene, Leveraged leans on the established regulatory and operational infrastructure of Cyprus.
How long they have been around
There is a clear gap in operational history between the two. AquaFunded was founded in 2023, giving it a couple of years of market presence and time to refine its various account models, which range from one-step evaluations to instant funding. Leveraged is a much newer participant, with a foundation date of 2025. Despite being newer, Leveraged has quickly gathered a volume of public reviews (1,256) that nearly matches AquaFunded’s total (1,296), suggesting a very aggressive entry into the market or a high level of initial user engagement. However, AquaFunded’s longer stay in the industry provides a slightly more tested framework for its rules and payout processes.
What they promise and what backs it
AquaFunded promises a very high profit split of 90%, which can be increased to 100% through paid add-ons. This generous offer is backed by a diverse set of programs including 1-step, 2-step, 3-step, and Instant funding options. Their risk rules include the "Wave Stop" mechanism, which acts as an automated safety net for the firm by closing trades at certain loss thresholds. In contrast, Leveraged offers an 80% profit split and introduces innovative entry models like the "Turbo" account, where traders pay a very low upfront fee ($8.88) and only pay the activation fee after passing. While AquaFunded allows for more aggressive styles like Martingale and various EAs, Leveraged is much more restrictive, banning commercial EAs and Martingale strategies. This suggests that AquaFunded relies on its automated risk tools to manage diverse traders, while Leveraged seeks to back its promises by filtering for specific, manually-driven trading behaviors.
How they handle your money
The financial operations of both firms show a high level of technical integration. AquaFunded utilizes Rise, Crypto, and Transfers for payouts, with a $35 fee for Rise transactions over $1,000. They have a 24-hour payout guarantee (on business days), promising an extra $1,000 if they fail to meet the deadline, which is a significant commitment to operational speed. Leveraged handles payouts via wire transfer, Revolut, and Crypto, charging a $25 fee for transfers. While AquaFunded requires a 14-day wait for the first payout in most models, Leveraged’s "Sprint" program allows for a payout as soon as the account is funded. Regarding platforms, AquaFunded offers a broader selection including MetaTrader 5, MatchTrader, TradeLocker, and cTrader, whereas Leveraged focuses on the industry standards of MetaTrader 5 and cTrader.
Operational maturity
Operational maturity is evidenced by the range of assets and the complexity of the scaling plans. Leveraged offers a wider variety of tradable instruments, including stocks and a broader range of cryptocurrencies, which requires more sophisticated liquidity arrangements. AquaFunded, while sticking to more traditional assets like Forex and Commodities, offers a highly detailed "Elite" program with tiers (Bronze, Silver, Gold) that include benefits like monthly salaries and dedicated account managers. Both firms accept card and crypto payments, which is standard for the current maturity level of the industry. AquaFunded’s availability of swap-free accounts and its extensive scaling plan up to $4,000,000 reflect a firm that has built its infrastructure to accommodate long-term professional traders.
What the record does and does not tell you
The available data provides a clear picture of the formal structure and the promises made by both firms, but it cannot guarantee future performance or individual success. The high volume of reviews for a firm as new as Leveraged indicates rapid growth, but only time will tell if their "pay after you pass" model is sustainable in the long run. Similarly, AquaFunded’s higher profit splits and flexible rules are attractive, but they are governed by specific breach conditions like the Wave Stop that traders must navigate carefully. These records show the intentions and the technical capacity of the firms as of today, but the prop trading landscape remains volatile, and institutional stability is best judged over years rather than months.
Frequently asked questions
Which firm is more affordable for a trader starting with a small 2-step evaluation, AquaFunded or Leveraged?
For a trader looking at the smallest available 2-step evaluation, AquaFunded is more accessible in terms of upfront cost. Their $5,000 "2 Step Standard" account has an original price of $36. In comparison, the smallest 2-step account at Leveraged is the $10,000 "Sr. Portfolio Manager," which costs $85. While the account sizes are different, AquaFunded provides a lower entry point for those with limited initial capital.
How do the rules for using Expert Advisors (EAs) compare between AquaFunded and Leveraged?
AquaFunded is significantly more flexible regarding automated trading, as it generally allows the use of EAs without the strict "self-built" requirement. Leveraged, however, has a much more restrictive policy: they only allow EAs that the trader has developed and controls personally. Commercial EAs, whether bought, rented, or licensed, are strictly prohibited at Leveraged, even if they have been modified.
Which firm offers a faster path to the first payout on a funded account, AquaFunded or Leveraged?
Leveraged offers the fastest potential payout through its "Sprint" program, which allows traders to request their first payout as soon as they receive their funded account. AquaFunded typically requires 14 days after the first trade for the first payout, though this can be reduced to 7 days with a paid add-on or through specific account types like "Instant Flex" which offers the first payout on demand.
What are the differences in platform availability between AquaFunded and Leveraged?
AquaFunded provides a wider variety of trading platforms, offering MetaTrader 5, MatchTrader, TradeLocker, and cTrader. This gives traders more options to choose a terminal that fits their specific needs. Leveraged focuses on a more traditional setup, offering only MetaTrader 5 and cTrader. Both firms support modern interfaces, but AquaFunded caters to a broader range of platform preferences.
