How you lose the account
Losing an account in these two firms depends on different risk architectures. In Fundex, the primary risk during evaluation is breaching the daily loss limit (5%) or the total static drawdown. However, once funded, a unique risk appears: the "B-Book switch." If the account falls 10% from the original balance while in B-Book, or if it triggers four consecutive unrecovered B-Book switches, the account is terminated. Additionally, during evaluation (Classic), closing a trade before 3 minutes or losing more than 3% in a single position results in warnings that can lead to account loss.
In forTraders Perps, the account is lost through a "hard breach" if the static drawdown (5%) or the daily drawdown (3%) is hit. Unlike Fundex, forTraders imposes a strict inactivity rule: you must close at least one position every 7 days. Failure to do so results in immediate account termination. Furthermore, using fully autonomous trading bots is strictly prohibited and leads to a breach, as they only allow EAs for decision support.
Maximum drawdown
Both firms utilize a static drawdown model, which is generally safer than trailing drawdown because the loss limit does not move upward as you make profits.
- Fundex: Offers a 10% static drawdown on the Classic plan and 8% on the Pro plan. It is measured on equity and resets when Phase 2 begins.
- Numerical Example: On a $100,000 Classic account, your maximum loss is $10,000. Your account will be breached if your equity touches $90,000 at any time.
- forTraders Perps: Offers a tighter 5% static drawdown. Crucially, after your first reward (payout), the drawdown floor "locks" at the initial balance.
- Numerical Example: On a $10,000 account, the maximum loss is $500. If your equity hits $9,500, you lose the account. If you grow the account to $10,500 and take a payout, your new floor is $10,000; any dip below that starting balance will cause a breach.
Daily drawdown
The daily limit is often the "silent killer" of funded accounts due to how it is recalculated.
- Fundex: The daily limit is 5%, but it only applies during the evaluation phases. Once you are funded, Fundex removes the daily loss limit, leaving only the total 10% buffer. It is recalculated at 00:00 UTC based on the balance at that time and measured against equity.
- forTraders Perps: The daily limit is 3% and applies to both the challenge and the Master (funded) account. It is calculated at 00:00 CET/CEST from the higher of balance or equity. This means if you have floating profits at the end of the day, your daily loss buffer for the next day might be tighter than expected.
Rules beyond drawdown
Risk management in these firms involves specific operational constraints:
- Fundex:
- Single trade limit: In evaluation, a single trade cannot lose more than 3% of the balance (floating losses included).
- Consistency: There is no specific consistency rule mentioned regarding lot sizes, but they prohibit "materially changing strategy" after passing.
- Stop Loss: Not mandatory.
- Minimum Hold Time: 3 minutes for Classic evaluation. No limit for Pro or funded stages.
- forTraders Perps:
- Inactivity: Must close a trade every 7 days (Hard breach).
- News Trading: Restricted on the Master account (5 minutes before and after). Profits from news events can be deducted (Soft breach).
- Scalping: Minimum 5-second hold time.
- Stop Loss: No data provided in the JSON, which represents a risk as the firm could implement discretionary closures.
Risk that comes from the setup
The platform and the asset environment directly impact execution risk.
Fundex uses its proprietary "Fundex Terminal" with pricing derived from the Bitunix exchange. Leverage is conservative, reaching only 4:1 on BTC/ETH and 1:1 on stocks. This low leverage acts as a natural "speed limiter" on risk but requires more capital to generate significant returns. The proprietary nature of the terminal means you cannot use MetaTrader tools, and execution quality is entirely dependent on Fundex's internal infrastructure.
forTraders Perps uses its "For Traders Perps" platform with liquidity sourced from Hyperliquid or Binance. It offers significantly higher leverage (up to 10:1 on BTC), which increases the risk of hitting the tight 3% daily drawdown with small price swings. A unique risk here is the "Swap-Free" cost: they charge a fixed hourly fee (0.03% daily for crypto) regardless of whether you are long or short, which acts as a constant drain on your drawdown buffer.
What is at stake and what you recover
The cost of the challenge is the capital at risk.
- Fundex: A $100,000 Classic account costs $529. This fee is non-refundable. Payouts are highly efficient, processed within 60 minutes to 24 hours on demand via Rise, with a 70% to 80% profit split.
- forTraders Perps: A $50,000 account costs $493. They offer a "Payout Guarantee": if not paid within 48 hours, you receive a 100% profit split. Payouts are available from day one on the Master account once you hit a 1% profit target. However, there are payout fees: $25 for crypto (under $400) or $50 for Rise.
Frequently asked questions
Which firm is cheaper to get a $25,000 account, Fundex or forTraders Perps?
For a $25,000 allocation, forTraders Perps is the cheaper option with its Perps Fast challenge priced at $235. In comparison, Fundex charges $259 for its 2-Step Classic and $299 for its 2-Step Pro evaluation of the same size.
Who processes withdrawals faster, Fundex or forTraders Perps?
Fundex offers faster processing times, stating that most payout requests are handled within 60 minutes and all within a maximum of 24 hours, including weekends. forTraders Perps provides a 48-hour payment guarantee, which, although reliable, is slower than the Fundex window.
What are the maximum leverage limits for Bitcoin in Fundex and forTraders Perps?
forTraders Perps allows for higher risk exposure with a leverage of up to 10:1 on BTC. Fundex is much more restrictive, limiting leverage on BTCUSDT and ETHUSDT to a maximum of 4:1 through its terminal.
Are fully automated EAs allowed in both Fundex and forTraders Perps?
No, the rules differ significantly. Fundex allows EAs and automated systems as long as the underlying strategy is the trader's own. In contrast, forTraders Perps strictly prohibits fully autonomous trading bots, only allowing EAs to be used as decision-support tools for alerts or partial management.
