When comparing proprietary trading firms, it’s important to examine their offerings, rules, and trader experiences to determine which aligns best with your needs. Finotive Funding and PaidPex are two notable firms in this space, each providing distinct features for traders seeking funded accounts. This detailed comparison highlights their similarities and differences while offering insights into what each prop trading firm brings to the table.
1. Evaluation Process
Finotive Funding
- Two-Step Evaluation Process:
- Phase 1: 7.5% profit target with a maximum daily drawdown of 5% and an overall drawdown of 10%.
- Phase 2: 5% profit target under the same risk parameters.
- Instant Funding Option: Offers direct funding without an evaluation but imposes stricter drawdown limits (5%-10% daily and 8%-16% overall).
PaidPex
- One-Phase Evaluation:
- Traders must achieve an 8% profit target with no minimum trading days and a maximum drawdown limit of 10%.
- Flexible Timeline: No time limits, reducing pressure on traders to meet profit targets within short periods.
- Instant Funding: Provides direct access to trading capital without a challenge, with risk parameters similar to those in evaluation accounts.
Key Difference:
PaidPex offers a simpler and more streamlined one-phase evaluation process, reducing the time and stress involved in qualifying for a funded account.
2. Profit Splits
Finotive Funding
- Profit splits range from 55% to 95%, depending on the account type and performance.
- Instant funding accounts may have lower initial splits compared to evaluated accounts.
PaidPex
- Profit splits start at 85% for all funded accounts, with the potential to increase to 90% for consistent performance.
- The payout structure applies uniformly, whether traders use instant funding or pass the evaluation process.
Key Difference:
PaidPex provides a higher starting profit split, ensuring traders retain more of their earnings from the outset.
3. Payouts
Finotive Funding
- Payouts are available on demand for Instant Funding accounts and after meeting profit criteria in evaluation accounts.
- Some traders have reported delays in withdrawal processing.
PaidPex
- Payouts are processed within 18 hours, among the fastest in the industry.
- Traders can request withdrawals at any time, with a clear and transparent process.
Key Difference:
PaidPex’s commitment to fast and reliable payouts ensures traders can access their earnings quickly, enhancing trust and financial planning.
4. Risk Management Rules
Finotive Funding
- Daily Drawdown: 5%-10% depending on account type.
- Overall Drawdown: 8%-16%, with strict adherence to predefined risk limits.
- Total Risk Rule: Limits open trade risk to 50% of the daily drawdown limit, particularly for instant funding accounts.
PaidPex
- Daily Drawdown: Set at 5%, consistent across all account types.
- Overall Drawdown: 10%, with no additional restrictions on open trades.
- Flexibility: Risk management rules are designed to allow traders greater flexibility without unnecessary penalties.
Key Difference:
PaidPex’s straightforward and less restrictive rules provide traders with more room to implement diverse strategies without fear of breaching limits.
5. Trading Platforms and Instruments
Finotive Funding
- Provides access to MetaTrader 5 (MT5) but does not support MetaTrader 4 (MT4).
- Offers a wide range of instruments, including forex, indices, commodities, and cryptocurrencies.
PaidPex
- Supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and custom-built platforms with advanced analytics tools.
- Includes an extensive selection of tradable assets, such as forex pairs, stocks, indices, metals, and cryptocurrencies.
Key Difference:
PaidPex offers more platform options and additional tools, catering to traders who prefer MT4 or need advanced analytics.
6. Transparency and Support
Finotive Funding
- Some traders have reported challenges with delayed customer support responses and unclear explanations of account terminations.
- Transparency around certain rules, such as profit-sharing or scaling criteria, could be improved.
PaidPex
- Known for responsive and helpful customer support, with 24/7 availability.
- Policies and rules are clearly outlined, ensuring traders understand their obligations and opportunities from the start.
Key Difference:
PaidPex’s transparent policies and reliable support make it easier for traders to focus on trading without unnecessary administrative hurdles.
7. Scaling Plans
Finotive Funding
- Offers scaling opportunities, allowing accounts to grow to a maximum of $3.2 million, but specific performance criteria are not always clearly defined.
PaidPex
- Provides a structured scaling plan, increasing account sizes by 25% every three months for consistent performers.
- Scaling criteria are clearly outlined, ensuring traders know what is required to grow their accounts.
Key Difference:
PaidPex’s transparent and structured scaling plan gives traders a clearer path to account growth.
8. Reputation and Community Feedback
Finotive Funding
- As a newer firm, Finotive Funding is still building its reputation. While some traders praise its offerings, others have raised concerns about delays and transparency issues.
PaidPex
- Backed by a team with extensive experience in proprietary trading and positive community feedback.
- Known for its innovative use of technology, including AI tools for traders.
Key Difference:
PaidPex’s established reputation and trader-friendly approach provide added confidence for those seeking a reliable prop trading partner.
Conclusion
Both Finotive Funding and PaidPex offer unique opportunities for traders, but their approaches differ significantly. Finotive Funding focuses on structured risk management and multiple account options, which may appeal to traders who prefer rigid systems. PaidPex, on the other hand, provides a more flexible and trader-friendly experience with streamlined evaluations, higher profit splits, faster payouts, and transparent policies.
While both firms cater to different preferences, traders seeking simplicity, reliability, and fast results may find PaidPex to be a more practical choice. Ultimately, the decision depends on your trading style, risk tolerance, and personal priorities.