Ment Funding is an Eightcap backed prop firm offering funding of up to a straight $1,000,000 with no scaling needed!
Everything you might possibly need to know about Ment Funding prop firm is available on this page, including answers to your questions about them, their ratings, trading technology, legitimacy, profit split, packages, how to be their trader and other frequently asked questions. I have them all covered.
All about Ment Funding Prop Firm
Ment Funding is one of the young firms in the prop industry. When established in October 2020, the company started out as an educational platform for forex traders. And after eight months of first-hand experience with traders and the difficulties they often encounter, the company swung into action in June 2021 and created a prop firm arm for their traders.
Backed by the renowned Eightcap, with an easy evaluation process to get funded and the straight opportunity of trading a $1,000,000 account which you don’t really find anywhere else in the prop industry, Ment Funding may just be the prop firm for you.
Ment Funding offers size various plans and account prizes that suits the financial power of their traders ranging from $250 to $7,500. And if you are familiar with the prop market, you will agree that the pricing hardly gets any cheaper.
- To trade the $25,000 account, the evaluation challenge costs a one-time fee of $250.
- To trade the $50,000 account, the evaluation challenge costs a one-time fee of $450
- To trade the $100,000 account, the evaluation challenge costs a one-time fee of $750
- To trade the $200,000 account, the evaluation challenge costs a one-time fee of $1,500
- To trade the $400,000 account, the evaluation challenge costs a one-time fee of $3,000
- To trade the $1,000,000 account, the evaluation challenge costs a one-time fee of $7,500
The basic difference between the plans is the capital. Just as the common knowledge that the more the capital, the more the weight of the profit or loss, each plan varies in the daily maximum loss and overall drawdown that accrues to it.
To help traders understand their limits better, Ment Funding did not adopt the common percentage calculation that is widely used in the prop industry. Rather, they spell out the daily maximum loss and overall drawdown on each plan in clear language to their traders.
- The daily maximum loss on a $25,000 account size is $1,000 and the overall drawdown, $1,250
- The daily maximum loss on a $50,000 account size is $2,000 and the overall drawdown, $2,500
- The daily maximum loss on a $100,000 account size is $4,000 and the overall drawdown, $5,000
- The daily maximum loss on a $200,000 account size is $8,000 and the overall drawdown, $10,000
- The daily maximum loss on a $400,000 account size is $16, 000 and the overall drawdown, $20,000
- The daily maximum loss on a $1,000,000 account size is $40,000 and the overall drawdown, $50,000
What is the Ment Profit Trader Profit Split?
Ment Funding offers a trader friendly 75/25% profit split with their traders taking the lion share.
To get funded by Ment Funding is way easier when compared to other firms. All you have to do is pay the cost-fee for the evaluation challenge of the account size you will like to manage and make a 10% profit on the start-up capital with no restriction on the amount of days. Once the 10% profit mark is achieved, you have passed your evaluation that is, and will get funded after a few verifications are made.
Thereafter, you receive a mail with further instructions on how to the complete the Trader Agreement. Once the agreement is in place, and the necessary documents are provided, your funded account will be created, funded and issued to you typically within 24-48 business hours.
There are only 3 Rules set in place by Ment Funding, all of which are punishable by the perpetual closure of the trader’s account. We can refer to this as a ‘Hard Breach,’ like is often referred to in the Prop market. Those rules are not in themselves impossible. Let’s examine them below.
1. Drawdown Rule:
The maximum drawdown is the total loss that can be recorded by a trader on their account which must not be exceeded. A trader’s account is closed down perpetually once the maximum drawdown limit is reached.
2. Daily Loss Rule – 4% Daily Stop:
This is also like the drawdown rule. For every single trading day, a trader must not exceed the 4% daily loss mark. Once the 4% is reached, a trader is meant to stop trading for the day, an attempt to proceed will be met with a closure of the account.
3. 30 days Inactivity Rule:
This is the easiest of all the rules. All you have to do as a trader is just trade from time to time at your convenience. Failure to trade for a streak of 30 days will lead to automatic loss of the account.
Knowing too well that there is a boom in the prop firm market, several industries have joined the market with tons of them running almost the same operations under different names which leaves traders looking what makes firms different before taking the consideration of trading for them. Here are three major things that makes Ment Funding different from all the prop firms you know.
1. 5% Fixed Maximum Trailing Drawdown:
One of the common principles in the prop trading business is the trailing drawdown which is initially set at a percentage that gradually increases proportionally as the trader makes more profit on their start-up capital, and continues as a threat to the trader’s trading even after several years of profitable trading.
However, Ment Funding permanently locks their Maximum Trailing Drawdown on the starting balance once the trader has proven to be a profitable trader and achieves 5% return on their starting capital. This boosts the confidence of and gives traders more freehand to trade and even compound the account the more.
2. Required Stop Loss:
Unlike some other firms who immediately a trader fails to adhere to the required stop loss temporarily close down a trader’s account until another trading commences, Ment Funding only close the trade for as long as the trader remembers to set the stop loss in place. That means immediately you put the Stop Loss right in place, you can proceed right on with your trade, and wouldn’t be adjudged to have been a victim of a Soft Breach like most firms currently do.
3. Weekend Trades:
Unlike most firms who place a ban on weekend trades, Ment Funding allows traders to trade on weekends. All they need to do is upgrade their accounts from the default level. Once you upgrade your account, you can continue your weekly trade right into the weekend. Not only does that allow for more trades, but also increases the chances of making more profit.
If however your account is not upgraded, you will not be allowed to trade on weekends as all trades are required to be closed by 3:30 pm EST on Friday. Trades left open beyond that time would be automatically closed by the company, and isn’t considered a breach even at that. This although is “Subject to change” as put on their website.
Backed by the Eightcap, no, Ment Funding is not, and the fact work hand-in-hand with the renowned Youtuber and avid reviewer of available proprietary trading firms, Trade Connect VVS is enough proof that they are genuine. Their impressive reviews on Trust Pilot in the next section is another conviction-building testament for any intending trader.
Here is what the traders are saying on the objective company review site, Trust Pilot.
Here are a set of some carefully selected frequently asked questions on the Ment Funding website:
- What countries are allowed?
Although eightcap may not be available in your specific country, you will be permitted to trade with the broker through Ment Funding.
We accept people from almost any country, with only certain exclusions: Iran, Iraq, and Ivory Coast.
- Am I trading real money?
With backed funding from investors, we are given the ability to fund successful traders with live accounts and bask in your success. You are trading a live account when you are funded with our firm.
- How do I lose an account?
There are 3 ways to lose an account: Daily Stop Rule, the 5% Trailing Drawdown Rule, or after an inactivity period (not opening or closing a trade) of 30 days.
- How many accounts/challenges am I allowed?
You are permitted to take 1 EVALUATION at a time.
With regard to the concept of ‘limits’ this is where we stand at present:
$2 million max per person (can be made up of multiple assessments, provided none are same size at the same time)
$2 million max per strategy/EA (can be made up of multiple assessments, provided none are same size at the same time). Note: This applies to “off-shelf” EA’s (EA’s purchased from the market and used by many) We are seeking to fund independent and unquiet strategies not 1 that is the exact same across the board.
There is NO limit to how many accounts you may have (as long as it’s within the $2 million limit). There is NO limit for compounding. Up to $2 million of initial funding, then grow the account to any balance you desire – yes, even $10 million, $20 million, and so on.
- How do I access my Trader Dashboard?
Credentials and links will be sent directly to your email along with downloads to the trading software immediately after payment is processed (usually 15-30 minutes). You can also access the Trader Dashboard using the ‘Dashboard’ tab above.
As at the time of this post, all Ment Funding accounts can be opened with Eightcap on the MT4/MT5 Platforms.
Traders have the liberty of choosing any day for their first cash-out. However, they are restricted to just one withdrawal on a monthly basis for subsequent cash outs.
The withdrawal request at Ment Funding is a little different from what obtains in the status quo. Traders are required to send a mail to the company containing their withdrawal intent and the amount they would like to withdraw. After the necessary conditions are verified, the payment is made into the trader’s Deel account which they can withdraw via any of the available methods they ofer (wire transfer, PayPal, Payoneer, Coinbase, Revolut, ACH and other popular methods)
When you are ready to withdraw your profits, please send an email to email@example.com requesting the amount you would like to withdraw. We will then post your profit share into your Deel account, which you can withdraw via any of the available methods they offer (wire transfer, PayPal, Payoneer, Coinbase, Revolut, ACH and other popular methods)
At Ment Funding, the belief is that a proper education is at the center of profitable trading and it is to this end that they provide two options for educating their traders: The free education, and The paid mentorship. T
hey run the free education on their Youtube channel for their general traders audience with several videos from their members and experienced traders about the technicalities of profitable trading. The paid mentorship, however, is more individualistic, as a mentor is assigned to each trader that signs up for the mentorship program.
You can click here to make a choice of the preferred way to be educated
To advocate and advance smart trading from their traders, the company allows traders to make use of several expert advisors including EA’s, Copy Traders, Scripts, and Indicators.
The Ment Funding scaling plan differs drastically from what other prop firms in the market offer. Unlike the stipulated duration that other firms give to their traders, Ment Funding increases their traders’ trading capital with every 5% increase on their start-up capital. This puts a trader in the box seat and in total control of the compounding of their capital and ultimately profit.
However, even though the trader is in total control of their scaling chances, unlike it is with most other firms, the scaling process itself is not automated. Since it is done done manually from their end, it means that a trader might have to reach out to them when he notices that he has hit the 5% increase on his initial account before the scaling is activated on their end. They made an allowance for this on their website and traders could reach out to them via this mail.
The whole essence of this is for the company to take a more detailed and deliberate assessment of the trader’s trading which an automated scaling would not allow.
Below is a glimpse of their dashboard: