IC Funded Review: A Newcomer Backed by Trusted IC Markets

In the world of proprietary trading, new firms continue to emerge, hoping to attract traders with tempting offers and solid terms. One such firm is IC Funded – a recent entry into the prop trading space, backed by the highly reputable broker IC Markets. 

As one of the largest forex brokers in the world, IC Markets boasts over 38,000 reviews on Trustpilot, with an outstanding 4.8 star rating. This affiliation instantly adds a level of credibility and trust to IC Funded.

In this review, we’ll explore IC Funded’s offerings and key features, as well as share important rules for securing your funded account and reveal a simple way to lower your trading costs!

IC Funded’s Offering

IC Funded’s challenge structure is very straightforward. Traders can choose from a range of account sizes, starting at $5,000 for a fee of $49 and scaling up to $500,000 for just under $2,500. 

The challenge consists of two stages. In the first, traders must achieve a 10% profit target, followed by a 5% target in the second phase. IC Funded allows unlimited trading days, with a minimum of five trading days required to complete each phase. The company also enforces a maximum daily loss limit of 5% and an overall drawdown cap of 10%. Traders can take advantage of leverage, including 50:1 on FX and gold, 10:1 on indices and commodities, and 5:1 on equities.

After completing the challenge, traders receive a 75/25 profit split, which increases to 80/20 after one month. Additionally, traders will get a refund for the challenge fee once they are funded.

What Sets IC Funded Apart?

IC Funded’s simplicity is one of its strongest attributes. The company has adopted a classic, no-frills style with its two-stage challenge programme. This may not seem groundbreaking, but it’s a return to the traditional models that helped companies like FTMO become industry leaders.

Another key advantage is IC Funded’s low spreads, which rank among the best we’ve seen. Considering its connection to IC Markets, known for its exceptional trading conditions, this comes as no surprise.

One outstanding feature is the $500,000 account size. Few firms offer such a large capital allocation, providing an excellent opportunity for traders looking to manage larger funds. Although IC Funded fees aren’t the lowest on the market, they remain competitive, especially considering the trading conditions and flexibility offered.

IC Funded also supports popular trading platforms such as MetaTrader 4, MetaTrader 5 and cTrader. Unlike many of its competitors, the company allows trading during news events, giving traders more freedom.

It’s important to note, however, that IC Funded does not accept traders from certain countries. You can find the full list of restricted regions HERE.

3 Key Rules for Securing Your Funded Account

To secure your funded account with IC Funded, it’s essential to be aware of a few specific rules that might not be immediately obvious:

Consistent Trading Days: IC Funded requires a minimum of five trading days to complete each phase, but don’t think you can game the system by making minimal trades just to meet this requirement. For instance, if you trade large lot sizes for a few days and then significantly reduce your activity for the remaining days, this behavior may not be welcomed. IC Funded emphasizes steady trading habits throughout the evaluation period.

No Copy Trading: Using external tools like copy trading or following signals from others is strictly prohibited. Violating this rule can lead to account suspension, so it’s important to stick to your own strategies.

Strategy Consistency: Be mindful of using a consistent trading strategy between the evaluation and funded phases. If the firm detects a shift in your approach, it could lead to the closure of your funded account. Consistency is key to maintaining your standing with IC Funded.

Traders’ Reviews of IC Funded

IC Funded has a 4.4 star rating on Trustpilot, despite being new to the prop trading industry, with just over 60 reviews at the time of writing. Traders have praised the company’s customer support, fast payouts and favorable trading conditions. However, there have been a few negative reviews, mostly related to country restrictions, with some traders from Pakistan and Malaysia reporting that they were unable to participate due to geographical restrictions.

How to Reduce Your Challenge Costs

If you’re ready to take on an IC Funded challenge, here’s some good news: you can reduce your costs by 5%. Simply purchase your challenge using our affiliate link and join our Discord to submit your payback request. This small step can make a big difference in the overall cost of your challenge!

Final Thoughts

Although IC Funded is new to the prop trading world, its strong connection with IC Markets provides a solid foundation. The firm offers competitive pricing, low spreads, and large account size options, making it a great choice for serious traders. With its clear potential to become a leading player in the industry, IC Funded is definitely a company to watch as it continues to grow and improve its offerings. Stay tuned for more updates and developments in the prop trading space!