Aqua Funded - Prop Firm Review
- CFD prop firm trading simulated capital across nine programmes, scaling to $4,000,000
- 90% base profit split — the highest base rate we have found at any firm
- The advertised 100% split is a checkout add-on, not a performance tier
- A 2% floating loss permanently closes the account — $2,000 on a $100,000 account, even on an open trade
- One-time fee; the fee refund arrives on your fourth payout
Last reviewed: 12 July 2026. Checked against Aqua Funded’s official terms, help centre and pricing pages.
Firm Overview
Aqua Funded operates through two entities: Aqua Funded FZCO (IFZA Business Park, Dubai — the contracting party in the Terms) and AquaFunded LTD, a Saint Lucia corporation (company no. 2004-00597), which the footer says “provides the simulated trading services.”
Governing law is UAE, with disputes going to DIAC arbitration in Dubai and a class-action waiver. Aqua states plainly: “The Company does not carry out any regulated activities.” No licence, no regulator, no false claim — that part is clean.
The range is unusually wide — nine programmes, from a 5 USD “Pay Later” route up to 400,000 USD instant-funded accounts.
The Rule That Ends Accounts: a −2% FLOATING Loss
This is the most dangerous mechanic we have documented at any firm this year, and it deserves to be understood exactly.
Aqua’s “Maximum Loss Per Trade Policy” applies to Instant Funding, AquaMan and Pay After Pass accounts. In Aqua’s own words:
“If your floating PnL… drops below −2% of the account starting balance, the account will be permanently closed… Immediate and permanent closure of the account.”
Read “floating”. This is unrealised loss. Not a closed loss, not a drawdown you have actually taken — an open position temporarily moving against you.
On a 100,000 USD account, that is a 2,000 USD open drawdown. Any trader who lets a position breathe, who sizes normally and gives a trade room to work, is one ordinary adverse move away from permanent closure. Not a warning. Not a soft breach. The account is gone.
And on the largest accounts it is tighter still: 300,000 USD and 400,000 USD accounts have a −1% limit. On a 400K account that is a 4,000 USD floating loss — a rounding error at that size.
“Wave Stop” — the version for everyone else
Traders on the other funded programmes are not exempt. They get Wave Stop, which fires at a 2% floating loss and auto-closes every position. The consequences escalate:
- First trigger: your profit split is cut to 50%.
- Second trigger: the account is breached.
So on every funded account at Aqua Funded, an unrealised 2% move against you is either fatal or extremely expensive. This single rule should determine whether you use this firm at all. If your style involves holding through normal adverse movement — and most profitable styles do — Aqua is structurally hostile to it.
The 90% Base Is Real. The 100% Is Not.
Credit where it is due: Aqua’s base split of 90% is the highest base rate we have found at any firm. Most competitors start at 80%. That is a genuine, material advantage.
But the headline is still misleading. Aqua’s homepage reads: “Trade with our Capital and keep 100% of the Profit.” Its own help centre is blunter: “Traders receive a 90% profit split as standard… Upon checkout you have the option to upgrade with an add on to: 100% PROFIT SPLIT.”
And its How It Works page is blunter still: “If you want to keep 100% of the profit, please tick the ‘100% Profit Split’ add-on at checkout.”
The 100% is a price, not a performance tier. You buy it. The homepage headline describes a product you have to pay extra for.
The Fee Refund Waits Until Your Fourth Payout
Aqua does refund the evaluation fee — but later than almost anyone else, and with a condition that voids it entirely.
From the binding Refund Policy: “you will receive a refund of the initial evaluation fee… upon traders fourth successful profit split payment. The traders evaluation fee will not be refunded until trader has reached the fourth profit split.”
And from the help centre: “fully refundable when you receive your fourth payout. If you hard-breach your account before reaching your fourth payout it is not refundable.“
Now put that next to the −2% floating-loss rule. You must survive four payout cycles — on an account that can be permanently closed by an unrealised 2% move — before you see your money back. The two rules are in direct tension, and the refund is the one that loses.
Note also: “Once a purchase has been made and the evaluation credentials have been emailed… no refunds under any circumstances. All sales are final.” The 4th-payout refund is a milestone bonus, not a consumer right.
The Nine Programmes
| Programme | Target | Daily DD | Max DD | Type | Min days |
|---|---|---|---|---|---|
| 1 Step Standard | 9% | 3% | 6% | TRAILING | 3 |
| 1 Step Pro | 6% | 3% | 6% | TRAILING | 5 |
| 2 Step Standard | 8% / 5% | 5% | 8% | STATIC | 3 + 3 |
| 2 Step Elite | 8% / 5% | 4% | 10% | STATIC | 3 + 3 |
| 2 Step Pro | 10% / 5% | 5% | 10% | TRAILING | 0 / 5 funded |
| 3 Step | 6% ×3 | 4% | 8% | STATIC | 0 |
| Instant Standard | — | 3% | 3% | TRAILING | 5 |
| Instant Pro | — | 3% | 6% | TRAILING | 5 |
| AquaMan / Pay After Pass | 2–3% | 3% | 6% | TRAILING | 0 / 5 funded |
Seven of the nine trail. If you want a static floor, your only choices are 2 Step Standard, 2 Step Elite and 3 Step — and those are also the programmes that escape the harshest version of the floating-loss rule (they get Wave Stop instead). That is the correct way to trade this firm.
Consistency rules run 20% (Instant Standard), 15% (Instant Pro and AquaMan) and 25% (the Pro tiers). A “qualifying trading day” requires at least 0.5% profit — the same quiet redefinition we found at FTUK and The5ers.
There are no resets. Aqua: “If you fail… the account will be closed and all progress on that account will be lost… you will need to purchase and start a new account.”
What It Costs
| Programme | 10K | 50K | 100K | 200K |
|---|---|---|---|---|
| 1 Step | 113 | 327 | 527 | 1,017 |
| 2 Step Standard | 89 | 317 | 469 | 947 |
| 2 Step Pro | 63 | 216 | 429 | 822 |
| 3 Step | 77 | 237 | 377 | 677 |
| Instant | 158 | 475 | 767 | 1,265 |
| AquaMan | 129 | 399 | 629 | 1,049 |
| Pay Later | 5 USD upfront, balance due on passing | |||
All figures in USD, from Aqua’s live checkout. Pay Later at 5 USD is the lowest-risk entry point on the site — but note it carries the −2% floating-loss rule, which is the harshest condition Aqua imposes.
Payouts
- Minimum payout: 100 USD.
- First payout: 14 days after your first funded trade. 7-day and on-demand cycles are paid add-ons.
- Under 1,000 USD: crypto only. At or above 1,000 USD: Rise, with a 35 USD fixed fee.
- 200K+ accounts: your first two payouts are capped at 10,000 USD each.
- 24-business-hour guarantee, or Aqua pays you 1,000 USD. That is a real commitment and worth crediting.
The 2-minute rule: “Trades held for under 2 minutes may be classified as tick scalping. On funded accounts, profits generated from this type of trading may be subject to removal.” And a “gambling” rule: using more than 80% of margin on one trade can result in “profits being deducted, phases being reset, or accounts being breached.”
The Trustpilot Problem
We need to be careful and precise here, because this is frequently misreported — including in an earlier version of this review.
Trustpilot has NOT removed Aqua Funded’s star rating. The rating is live: 2.8 out of 5, from roughly 1,450 reviews.
What is true is worse. Trustpilot carries an active consumer alert for fabricated reviews on Aqua Funded’s profile.
Meanwhile, Aqua’s own website advertises “Rated 9.4/10 from 5k+ verified reviews” — attributed to an unnamed “Combined Third Party Review Site.”
A 2.8 on Trustpilot with a fabricated-review alert, presented on your own site as a 9.4, is not a rounding difference. Treat any rating Aqua quotes about itself with corresponding caution.
Who It Suits — and Who Should Avoid It
It suits you if you trade tight, close positions quickly, never let a trade run against you, and want the highest base split in the industry. Take 2 Step Standard, 2 Step Elite or 3 Step — the static-drawdown programmes — and the 90% base is genuinely excellent value.
Avoid the Instant, AquaMan and Pay After Pass programmes unless you are a scalper. A −2% unrealised loss permanently closing an account is a rule most strategies cannot survive. Avoid Aqua entirely if you hold through drawdown — Wave Stop will halve your split on the first ordinary adverse move and end you on the second.
And do not buy on the strength of “100% profit split”: it is an add-on you pay for, and the fee refund it might offset is four payouts away on an account that can be closed by an open trade.
Frequently Asked Questions
What is the −2% floating loss rule?
On Instant, AquaMan and Pay After Pass accounts, if your unrealised profit and loss drops below −2% of your starting balance, the account is permanently closed. On 300K and 400K accounts the threshold is −1%.
What is Wave Stop?
The equivalent rule on other funded accounts. A 2% floating loss auto-closes all trades. The first trigger cuts your profit split to 50%; the second breaches the account.
Is the 100% profit split earned?
No. It is a paid add-on selected at checkout. The base split is 90%, which is genuinely the highest base rate we have found.
When is my fee refunded?
At your fourth payout — and it is forfeited entirely if you hard-breach before reaching it.
Which Aqua programme is safest?
2 Step Standard, 2 Step Elite or 3 Step. They are the only three with a static drawdown, and they avoid the harshest floating-loss rule.
Can I reset a failed account?
No. There is no reset product — you buy a new account.
What is Aqua Funded’s Trustpilot rating?
2.8 out of 5, from around 1,450 reviews, with an active fabricated-reviews consumer alert on the profile. Aqua’s own site advertises 9.4/10.
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