Funded Elite - Firm Review

Company and regulation

Funded Elite is operated by Quantum SRL, based in Latina, Italy, under Italian law. It is unregulated and its accounts are simulated. The Terms are explicit: “All trading activities performed on Funded Elite occur entirely within virtual or demo-based simulations. No real capital is handled, processed, invested, or placed into financial markets at any time.” Trading runs on MT4/MT5 (via ThinkMarkets) and cTrader (via Purple Trading) — both regulated brokers providing the demo feed, though that regulation covers the broker, not Funded Elite. One point worth knowing: the firm reserves the right to “sell the trading data provided by our clients,” including replicating it on its own accounts.

The rule that defines it: the free “Second Chance”

Funded Elite’s headline differentiator is that it advertises itself as the first firm to give every participant a free “Second Chance.” If you breach your account during phase one or two, you automatically get a fresh restart from phase one, once per purchased challenge, at no extra cost. As a safety net against one bad day, that is genuinely appealing.

The catch is significant and easy to miss, so it’s worth stating plainly: using the Second Chance permanently degrades the account you keep. On a 2-step your daily-loss limit tightens from 5% to 3%; on a 1-step your total drawdown tightens from 8% to 6% — and those tighter limits carry through into the live/funded phase. Your first live payout drops from 80% to 50%, and your evaluation fee becomes non-refundable. So the “free” retry isn’t really free; it trades a second attempt for materially worse economics and less risk room for the life of the account. Know exactly what you’re giving up before you rely on it.

Products, split and drawdown

Funded Elite offers 1-step and 2-step challenges (each with the free Second Chance), plus Lite versions, an Instant Funded option, and a $5 “Flash Activation” promo entry. Account sizes run to $300k (the homepage says “up to $400k”), with a $600k aggregate live cap. Markets are forex, indices, metals, oil, crypto and US stocks as CFDs.

The split is 80% in the funded phase, scaling to 90% after five payouts — note the homepage’s “up to 95%” is not substantiated anywhere in the FAQ, so treat 90% as the real ceiling. Drawdown: 2-step is 5% daily / 10% max; 1-step is 3% daily / 8% max, with the maximum static to the initial balance and the daily figure dynamic. Fees are one-time, refundable with your third payout only if you pass on the first attempt (using the Second Chance forfeits the refund).

The main caution: payout discretion

The most important thing to weigh is at the payout stage. Funded Elite markets “absolutely no hidden rules,” but the Terms add several that aren’t in the FAQ — including a “per-strategy risk limit” under which traders have reported being denied payouts. In one documented case a trader’s pre-set stop-loss sat within the stated risk limit but was allegedly pushed over it when the firm added an overnight swap charge to the calculation. The Terms also let the firm remove trades and withhold payouts on “reasonable suspicion,” reduce leverage to 1:30 on accounts it deems suspicious, and — unusually — terminate accounts over a threatened negative review.

None of this means most traders won’t be paid; many report fast payouts and good support. But the gap between “no hidden rules” and the actual discretion in the Terms is the key risk, so document your trading, keep your risk well inside the stated limits, and read the full Terms rather than just the FAQ.

Rules and fees at a glance

• Signature feature: free Second Chance retry — but it tightens limits, cuts first payout to 50% and voids the fee refund.
• Split: 80%, up to 90% after five payouts (homepage “95%” unsupported).
• Drawdown: 2-step 5%/10%; 1-step 3%/8% (static max).
• Payouts: after ~14–21 days (the FAQ conflicts), then bi-weekly; free-account payouts capped at 2% of balance.
• Cost: one-time fee, refundable on 3rd payout only if no Second Chance used.
• Platforms: MT4/MT5, cTrader; forex, indices, metals, oil, crypto, US stocks.

Verdict

Funded Elite’s free Second Chance is a genuinely novel safety net, the platform choice is good, and many traders report being paid quickly. If a forgiving retry appeals and you understand its cost, there’s a real product here.

Weigh it with the fine print, though. The accounts are simulated; the Second Chance permanently worsens your risk limits, first-payout split and refund; the “up to 95%” split isn’t supported by the rules; and, most importantly, there are documented payout-denial complaints under a per-strategy risk limit alongside broad discretionary clauses. Trade well inside the stated limits, don’t bank on the retry, read the full Terms, and it can work; take the marketing at face value and you may be caught out at the payout stage.

Frequently Asked Questions

Is Funded Elite regulated, and is the capital real?

Funded Elite is operated by Quantum SRL in Latina, Italy, and is unregulated. Its accounts are simulated: the Terms state that all trading occurs entirely within virtual or demo-based simulations and that no real capital is handled or placed into markets. It trades on MT4/MT5 and cTrader via regulated brokers, but that regulation covers the broker feed, not Funded Elite.

What is the Funded Elite Second Chance?

It is a free retry: if you breach your account during phase one or two, you automatically restart from phase one, once per purchased challenge, at no extra cost. The catch is that using it permanently tightens your risk limits (for example a 2-step daily loss from 5 percent to 3 percent), drops your first live payout from 80 percent to 50 percent, and makes your evaluation fee non-refundable.

What is the Funded Elite profit split?

The funded split is 80 percent, scaling to 90 percent after five successful payouts. The homepage references up to 95 percent, but that figure is not substantiated anywhere in the FAQ, so treat 90 percent as the real ceiling. If you passed using the free Second Chance, your first payout is only 50 percent before reverting to 80 percent.

What are the Funded Elite drawdown rules?

On the 2-step, 5 percent daily loss and 10 percent maximum loss; on the 1-step, 3 percent daily loss and 8 percent maximum loss. The maximum drawdown is static to the initial balance while the daily figure is dynamic. Using the Second Chance tightens these limits, and the tighter limits carry through into the funded phase.

How reliable are Funded Elite payouts?

Many traders report fast payouts and good support, but there are documented complaints of payouts being denied under a per-strategy risk limit, including a case where an overnight swap charge pushed a pre-set stop-loss over the limit. The Terms also let the firm withhold payouts on reasonable suspicion. Keep your risk well inside the stated limits and document your trading.

Does Funded Elite charge a monthly fee?

No. Funded Elite charges a one-time evaluation fee per challenge, refundable with your third payout only if you pass on your first attempt without using the Second Chance. There is a $5 Flash Activation promo entry, and account sizes run up to $300k with a $600k aggregate live cap.

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