Fundex: Information and detailed review

Two evaluations that are almost opposites

Fundex sells one structure — two phases, 8% then 5% on Classic, 10% then 5% on Pro — but the rules around them differ so much that they suit contrary trading styles.

2-Step Classic is the measured route. It asks 5 minimum trading days per phase and a 3-minute minimum holding time on every trade, in exchange for the wider 10% maximum drawdown.

2-Step Pro removes both. No minimum trading days, no holding time — you can pass in a single session if your strategy allows. The price is a tighter 8% maximum drawdown and a higher first-phase target.

Between phases there is a short wait: RiskDesk reviews the account automatically, typically in 60 to 120 minutes, occasionally up to 24 and exceptionally 48. Warnings issued in Phase 1 are reset when Phase 2 opens.

Neither has a time limit. Neither has a consistency rule, which the firm argues against explicitly: it "penalises good trading rather than protecting against bad trading".

The minimum trading day has a size condition

Easy to miss on Classic: a day only counts toward the five if you opened at least one trade with a notional size of 5% or more of your account balance, before leverage. On a $100,000 account that means a position of at least $5,000. Days where every trade falls below that threshold do not count, so five days of cautious small trades can leave you at zero.

The 3-minute rule applies even to your stop loss

On Classic, all trades must stay open three minutes, and the rule holds even when a take profit or stop loss triggers automatically before the mark. The firm explains why: otherwise you could place a TP at the current price to force an instant close.

The first violation is a warning only. Any further one breaches the account.

The funded stage replaces drawdown with something else entirely

This is the most distinctive mechanism in the firm, and it has no equivalent elsewhere in this catalogue.

Once funded, the numerical evaluation rules disappear: no daily drawdown, no trailing drawdown, no minimum holding time, and news trading is permitted. What replaces them is an execution model.

Your account sits on A-Book while it is at or above its original starting balance — meaning Fundex offsets your activity externally rather than taking the other side of it.

Drop 1% below that original starting balance and everything changes. All open positions close automatically and the account switches to B-Book, a simulated state. Crucially, this is not a breach. You keep trading with one objective: return to the original starting balance, at which point A-Book resumes automatically.

The threshold is always measured from your original starting balance, never your current one. On a $100,000 account the trigger is $99,000 no matter how far above that you have grown the balance first.

The counter and the offset are what actually end accounts

Two things accumulate, and both matter more than any drawdown figure.

The counter. Each switch to B-Book without recovering increments it. Four consecutive unrecovered switches is a permanent breach. There is a second, faster breach condition: falling 10% below the original starting balance while in B-Book ends the account immediately, regardless of the counter.

The offset. Every B-Book episode adds the amount you fell below your starting balance to a running total. Profit share does not apply while an offset is outstanding. The firm's own example: two episodes of $1,000 each leave you needing to generate $2,000 in closed profits above your starting balance before the split begins to pay anything.

So a funded account can be alive, profitable on paper, and still paying you nothing until the offset clears.

Payouts: no schedule at all, plus a monthly bonus

The split is 70/30 in your favour on eligible profits — those generated on A-Book, above your starting balance, with no outstanding offset.

The withdrawal conditions are the loosest in this catalogue. No fixed windows, no waiting periods, no minimum trading days at the funded stage. Request whenever your available balance reaches $50, as often as you like, with no upper limit on the amount.

Before the first payout you need KYC through Rise and an accepted Trader Agreement. Registration itself needs no verification — but nothing is released to an unverified participant, and that includes the monthly bonus. Fundex states that it never receives your raw identity documents or biometric data, only the pass/fail outcome from Rise.

The monthly bonus is paid regardless of performance

Unusual enough to be the reason some traders pick this firm: from day 30 of a funded account, Fundex may pay 1% of the account balance every month — $1,000 on a $100,000 account — whether your results that month are positive, negative or flat.

There is a volume condition, and it differs sharply by platform. On the Fundex Terminal a $100,000 account needs $2,000,000 of monthly volume; on MatchTrader the same account needs $10,000,000, five times more.

Two caveats the firm states plainly: meeting the volume threshold does not create an entitlement, and the bonus remains discretionary under the Terms.

Rules: permissive on strategy, strict on identity

There is no maximum loss per trade at any stage — evaluation or funded. Position sizing is left to you, within the overall limits.

Expert Advisors are permitted provided the strategy is your own and could perform in live conditions. What is banned is automation designed to exploit the environment: martingale, grid trading, tick trading, latency arbitrage, HFT, and position stacking — defined precisely as opening three or more positions in the same direction on the same instrument at once, treated as a single oversized trade.

Gambling behaviour is assessed on how you trade, not just on results. A profitable account can still be flagged for over-leveraging, directionless or revenge trading, habitual one-sided bets, or overtrading in short windows.

And unlike most firms, the exposure limits behind that judgement are published as numbers. Exposure is measured as combined notional divided by account equity. On any single position, up to 25% is compliant, 25–40% is a flagged warning, and above 40% is a violation. On total simultaneous exposure the evaluation allows up to 50%, warns between 50% and 80%, and treats anything above 80% as a violation — but once funded that ceiling drops to 60%, because the risk is real at that point.

Identity rules are enforced by hardware fingerprint

This is stricter than most and worth knowing before you start.

VPNs are not permitted at all. Neither is trading from a VPS or datacenter IP, which the firm treats as a signal of copy-trading farms.

Account sharing is detected through a hardware ID generated by the trading terminal, and the firm states outright that this signal cannot be masked by changing your IP or using a VPN. Two accounts from different users on the same device is treated as a strong indicator.

Self-copy trading is prohibited — in the evaluation strictly, and at the funded stage by default. The alternative offered is an account merge: combine funded accounts into one, up to the $400,000 maximum allocation.

RiskDesk reviews every account, and you can appeal twice

RiskDesk is an AI agent that automatically reviews every account at the end of each phase — pass, breach, or pass-with-warning — and gives its reasoning.

You may submit up to two appeals per challenge. The first triggers a manual review by the risk team, which can take 48 hours; the second is available if you still believe a specific aspect was mishandled.

Platforms, costs and what you can trade

Two environments: the Fundex Terminal, built in-house, and MatchTrader. Crypto perpetuals execute through Bitunix; CFDs through Pure Market.

Leverage is conservative by prop standards and it is the same in every phase: 1:16 on forex, 1:4 on metals, 1:4 on BTC and ETH, and 1:2 on every other crypto pair. Most competitors offer several times that, so a strategy sized around higher leverage needs rebuilding here.

Trading fees are real and are Bitunix's, not markups: 0.02% maker, 0.06% taker on the terminal. Using limit orders costs you a third of what market orders do.

Who can join

Sixteen countries are restricted: Pakistan, Afghanistan, Myanmar, Iraq, Somalia, Sudan, South Sudan, Libya, Yemen, the UAE, North Korea, Iran, Syria, Cuba, Belarus and Russia. The UAE is the surprise on that list — most competitors serve it.

There is also a free $1,000 Test Account, one attempt per user, with a 10% target and the standard 5%/10% limits. Its profits cannot be withdrawn: it exists to let you try the platform.

What sits behind it

The operator is ATS Ventures S.A., incorporated in Panama, at the World Trade Center in Panama City, and the Terms name it as the sole contracting party. The current Terms are version 3.0, effective 9 September 2026.

The evaluation phases are explicitly simulated. At the funded stage, Fundex states that it "manages its own risk on your activity and may hedge or mirror that risk on external venues at its own discretion and for its own account" — and that you acquire no interest in, and no entitlement arising from, any position Fundex takes. Your performance is recorded inside the Fundex environment, and that recording is what determines your reward.

Read alongside the A-Book language, this matters: A-Book describes how Fundex manages its own risk, not a promise that your specific order reaches a specific venue.

Summary: who this firm suits

Fundex fits a trader who wants to withdraw on their own schedule, dislikes consistency and holding-time rules, and can work within genuinely low leverage.

It suits you well for reasons few competitors match. Payouts have no windows, no waiting periods and no minimum days — just a $50 floor, as often as you like. The monthly bonus pays 1% of your balance regardless of results, which is close to unique. Neither evaluation has a consistency rule. There is no maximum loss per trade. And the 2-Step Pro removes minimum days and holding time entirely, so a fast strategy can pass in one session.

Where it can catch you out

The A-Book/B-Book machinery replaces the drawdown you are used to, and it is more complex than a percentage. A 1% dip below your original starting balance force-closes every position, and while that is not a breach, four unrecovered switches is. The offset is the part people miss: until you have earned back everything you dropped below the starting balance, your profit share pays nothing.

Identity enforcement is strict. No VPN, no VPS, and a hardware fingerprint that the firm says cannot be masked. Leverage is low — 1:16 on forex and 1:2 on altcoins — so a strategy built around bigger leverage will not transfer. On Classic, the 3-minute holding rule applies even when your stop loss triggers, and a qualifying trading day requires a position of 5% of balance before leverage.

Three things to understand before buying. The monthly bonus is discretionary, and its volume requirement is five times higher on MatchTrader than on the Fundex Terminal for the same account size. The funded stage is not live trading in the sense most traders assume — the Terms say you acquire no entitlement from any position Fundex takes on its own account. And the UAE is on the restricted list, which is unusual enough to check before you buy.