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Furex Capital is a prop trading firm based in India that offers its services globally, allowing traders to access funds up to $400,000 in total trading capital.
Clients can choose between Normal and Instant Funding challenges, with the Normal account tier consisting of one-step and two-step challenges.
The smallest account size at Furex Capital is $5,000, with the Normal account offering a $400,000 maximum option. The firm has a flat profit split of 80% and there are no time limits on funded accounts.
A lack of reputable reviews and ratings for Furex Capital can be a notable issue for prospective traders. In this review, we will look at the accounts, fees, platforms and features offered by Furex Capital to determine whether the firm is worth your time.
Pros | Cons |
---|---|
No time limits apply | 80% flat profit split |
Offers an instant funding account | Simulated capital only |
Low spreads on crypto and forex | Lack of reliable reviews and ratings |
First UPI payment prop firm in India | Does not support EUR or GBP |
No consistency rule | No MT4 or MT5 |
Up to $2 million through scaling | Contact page is a WhatsApp link |
Stock trading is available |
FPA Score | Not rated yet |
Year founded | September 5, 2024 |
Headquarters | UAE |
Minimum audition fee | $66 (on sale for $51) |
Fees on withdrawals | N/A |
Minimum funded amount | $5,000 |
Maximum funded amount | $4000,000 (scalable to $2 million) |
Allowed daily loss | 3% (1-Step), 4% (2-Step), 3% (Instant) |
Profit target | 8-4% (1-Step), 7-7-4% (2-Step) |
Maximum trailing drawdown | 6% (1-Step and Instant), 8% (2-Step) |
Profit sharing (Payouts) | 80% |
Trading Platforms | Sirix |
Available trading markets | Currencies, commodities, indices, stocks, crypto |
Upon viewing the official Furex Capital website, you are unlikely to find much detail regarding the safety measures of the firm and its software.
While prop trading firms do not hold clients’ funds on their balance, data security and the issue of legitimate use of account fees are major concerns prop firms need to address.
Unfortunately, Furex Capital is not transparent regarding its security measures and leaves a lot to be desired in terms of informing prospective clients about the firm’s capacity in this regard.
The available account sizes at Furex Capital are the following: $5,000, $8,000, $15,000, $25,000, $50,000, $100,000, $200,000 and $400,000.
Each of these accounts can be part of a one-step or two-step evaluation program. As for the instant funding account, there are six different account sizes: $5,000, $8,000, $15,000, $25,000, $50,000 and $100,000.
The Furex Capital scaling plan allows traders to scale up their accounts up to $2 million, which is the maximum amount of funding a single user may unlock at the firm.
It is also worth noting that a flat $10,000 is not offered, which can be a bit inconvenient for some traders who will otherwise have to choose between a $8,000 and a $15,000 account.
While the official Furex Capital website does not list the individual instruments that are tradable at the firm, the FAQ page states that clients can trade currencies, crypto, commodities, indices and U.S. and European stocks, which is a relatively uncommon offering among prop trading firms, which gives Furex Capital a slight advantage in this regard.
As for the allowable leverage on forex trading, clients can use a default 1:50 leverage on currencies and commodities.
Similarly to other prop trading firms on the market, Furex Capital also enforces certain rules traders need to follow, which differ based on which evaluation program a trader chooses.
For example, the profit target for the One-Phase evaluation is 8% during the challenge stage and 4% once funded. On the other hand, a Two-Phase evaluation has a 7% profit target of Phase 1, 4% on Phase 2 and 4% after getting funded.
Daily and maximum loss limits also differ between accounts and range from 3 to 4 and 6 to 8 percent, respectively.
As for other miscellaneous rules imposed by the firm on its clients, they are the following:
These general rules mean that Furex Capital is slightly stricter than competing firms when it comes to loss limits and use of automated trading systems. On the other hand, there are no time limits, which give traders some flexibility when it comes to their trading strategies.
Below we can see a list of the account fees applicable to each account size of the One-Phase, Two-Phase and Instant Funding evaluation programs.
The following fees apply to each One-Phase account:
The following fees apply to each Two-Phase account:
The following fees apply to each Instant Funding account:
Most prop trading firms offer either MT4, MT5, or both to their clients, as they are two of the most popular forex trading platforms on the market.
Unfortunately, Furex Capital does not offer either of them. Instead, the firm’s clients have access to Sirix, which is also a forex trading software that comes with technical indicators and customizable charting options.
It is also worth noting that Furex Capital also has an iOS and Android app, which includes all the necessary features for trading on the go.
Overall, the absence of MT4 and MT5 docks some points from Furex’s trading platform score, but the firm nonetheless delivers some value for money to its clients in terms of software.
While most prop firms have a dynamic profit share that can be scaled up after successive payouts, Furex Capital offers a fixed profit split of 80%, without the opportunity to scale.
You can request a payout every 14 days, which is a standard timeframe across multiple prop trading firms on the market. There are no fees on withdrawals and you can choose between a wire transfer, crypto withdrawal, or a Visa/Mastercard to take out your funds. The firm showcases several successful withdrawal certificates as a testament to its profitable clients.
Some prop trading firms include free educational materials, such as webinars, blogs, guides, etc. to give beginner traders the opportunity to learn as they go. However, Furex Capital does not offer such a feature, as the firm does not have any educational content of its own, which can be a major downside for traders who are just starting out and want to know more about how prop trading works in practice, while trying their hand at it via a small funded account.
For this reason, Furex Capital gets a 0/5 in the Education category.
Existing and prospective clients of Furex Capital that would like to reach out to the firm can do so using the chat function, which is not a live chat, but a WhatsApp add-on, which may be inconvenient for some users.
A dedicated support email and a hotspot also seem to be missing, which means that the firm does not score highly on customer support. A FAQ section is available on the official website to answer common client inquiries regarding the services and features of the firm.
Our partner, XM, lets you access a free demo account to apply your knowledge.
No hidden costs, no tricks.
Furex Capital’s official website and third-party reviews lack nuance and do not provide some essential details regarding the firm, such as the names of its executives, a breakdown of tradable instruments, etc.
For this reason, some traders may be reluctant to give the firm a try. The official website also does not mention any specific security measures and AML policies the firm may be conducting.
The largest funding level offered by Furex Capital is $400,000, which can be further scaled up to $2 million. Which is the highest possible funding level at the firm.
While some competing firms offer higher funding limits, $2 million is also above over half of the prop firms’ offerings.
Traders who sign up at Furex Capital can trade currencies, indices and commodities. While the official website does not provide a full list of tradable instruments, major and minor pairs, CFDs on oil and gas, gold and silver, as well as major equity indices like the US500 are available to Furex Capital clients.
No. Furex Capital does not offer access to MT4 or MT5. On the other hand, the prop firm does have access to Sirix, which is another popular forex trading platform. However, experienced forex traders are likely to favor MT4, which can be a dealbreaker.