IC Funded: A Look at the New Prop Trading Program (Beta)

IC Markets, a well-established online FX and CFD broker, recently launched ICFunded.com, its foray into the world of proprietary trading. This program allows traders to manage the firm's capital after passing a series of challenges. However, as ICFunded is currently in beta testing, there are limited user reviews and a lack of long-term track record. Here's a comprehensive look at what we know so far about IC Funded:

What is IC Funded?

IC Funded is a prop trading program offered by IC Markets. Prop firms provide traders with capital to trade in exchange for a share of the profits.  If traders meet specific performance criteria, they gain access to a funded account with real money.

Current Status: Beta Testing

It's important to note that ICFunded is currently in beta. This means the platform is still under development, and features or functionalities might change before the official launch.

Potential Benefits

Trade with Firm's Capital: IC Funded allows qualified traders to manage a funded account without risking their own money.

Established Broker: IC Markets has a strong reputation as a reliable Forex and CFD broker.

Potential for Profit Sharing: Successful traders can potentially earn a significant share of the profits generated from their trading activity.

Possible Drawbacks (to Consider)

Limited Information: Since it's in beta, details about the program structure, fees, profit-sharing ratios, and account sizes are scarce.

Beta Testing Challenges: The platform might have technical glitches or limitations during the beta phase.

Competitive Landscape: Prop trading programs are becoming increasingly common, so IC Funded will need to offer competitive terms to attract experienced traders.

Regulatory Grey Area: The regulations surrounding prop trading programs can be complex. It's crucial to understand any potential legal or tax implications before participating.

What We Don't Know Yet

Cost of Participation: There's no official information about any fees associated with joining the program or the challenges.

Selection Process: The details of the evaluation process and the criteria for passing the challenges are not yet available.

Profit Split: The profit-sharing structure between the trader and IC Markets remains unclear.

Funded Account Details: Information on the minimum/maximum funded account sizes and trading restrictions is not yet public.

How to Stay Updated

IC Markets has a presence on social media and maintains a blog section on their website. Following them on these platforms might provide updates on the official launch of ICFunded and its complete program details.

Alternatives to Consider

Several established prop trading firms offer similar programs. Researching and comparing offerings from firms like FTMO, MyForexFunds, and Earn2Trade can help you find a program that suits your trading style and risk tolerance.

Conclusion

IC Funded has the potential to be a valuable platform for skilled traders seeking to manage real capital. However, with the program still in beta, there are significant knowledge gaps.  For now, interested traders should stay updated on IC Market's official channels and consider established prop trading firms with a proven track record.