IC Funded Review

IC Funded Pros and Cons

Prop Challenges and Account Types

IC Funded offers prop traders 7 evaluation levels, with the challenge account sizes ranging from 5K to 500K. Challenge audition fees start at $49, giving access to demo accounts where traders can prove their skills without risking real money.

How to Pass the IC Funded Challenge

To pass the IC Funded challenge, traders must complete two phases: Evaluation and Verification.

1. Evaluation: Phase 1 – requires achieving a 10% profit target while adhering to strict risk management rules, including daily and overall loss limits.
2. Verification: Phase 2 – focuses on consistent performance with a reduced profit target of 5%.

Each evaluation level has specific rules, such as daily loss limits and profit targets, that must be met, as outlined in the table below. Maintaining discipline and following the set rules throughout both phases is key to earning a funded account.

What Best IC Funded Account Types

Based on our ratings, the Level 5 100K account offers the best value with a rating of 8.02/10. It provides a good balance between the challenge fee, daily loss limit, and profit target, making it the most practical choice for traders looking for significant capital without excessive risk.

Close behind are Levels 6 and 7 ($250,000 and $500,000 accounts), both rated 8/10.

Phase 1 – Evaluation

In Phase 1, traders are tasked with achieving a profit target of 10% on their selected account size. During this phase, traders must adhere to strict risk management rules:

• Max Daily Loss: Traders cannot exceed the maximum daily loss limit, which is tied to the account size they have selected. This rule ensures that traders manage their risk on a daily basis.
• Max Overall Loss: There is also a cap on the total allowable drawdown, emphasising the importance of long-term risk management.
• Consistency Rule: Traders must keep similar trading volumes and avoid drastic changes in lot sizes, such as switching from large to small lots.

Traders can take as long as they need to reach the profit target, provided they maintain consistency and do not violate the loss limits.

Phase 2 – Verification

Upon successful completion of Phase 1, traders move on to Phase 2, where they must demonstrate continued profitability and discipline.

The key aspects of Phase 2 are:

• Profit Target: The profit target in Phase 2 is set at 5%, which is lower than in Phase 1, but it still requires consistent performance.
• Risk Management Rules: The same max daily loss and max overall loss limits apply, ensuring traders remain disciplined.
• Consistency Rule: Traders must maintain the same trading behaviour as in Phase 1, including position sizes, strategy, and risk management.

Funded Accounts

After passing both phases of the IC Funded evaluation, successful traders receive a funded account where they can trade with real capital.

The profit share starts at 75% and increases to 80% after the first month. Funded traders are subject to the same risk management rules as during the evaluation process, with a 5% daily loss limit and a 10% overall drawdown limit.

IC Funded Scaling Plan

IC Funded offers a limited scaling plan, allowing traders to grow their account balance up to a maximum of $500,000.

After passing your evaluation, you have two options:

• Access a funded account directly with a $5,000 balance.
• Retake the evaluation at no additional cost with a higher account balance.

If you choose to retake the evaluation and pass again, you can access a larger funded account or continue scaling up, gradually increasing your trading capital through consistent performance.

This scaling process is ideal for those starting with smaller accounts, offering a pathway to grow their capital over time. However, traders who start with the $500K account will not have further scaling options, as it’s the highest tier, limiting their capital growth.

In comparison, other prop firms offer more extensive scaling opportunities, allowing traders to increase their account balances up to $2 million, which can be more appealing for those looking to manage larger amounts of capital.

Trading Rules

IC Funded has established a clear set of trading rules across all challenge levels, ensuring traders adhere to strict risk management guidelines. News trading and the use of Expert Advisors (EAs) are allowed, but copy trading and high-frequency trading (HFT) are prohibited.

Unlike some prop firms, IC Funded does not require the use of stop losses or enforce a “Flatten on Friday” rule, offering more flexibility in trading strategies. However, accounts are closed after 30 consecutive days of inactivity, so traders must remain active throughout the evaluation.

• No Copy Trading: Copy trading is strictly prohibited across all accounts.
• Expert Advisors Allowed: EAs are permitted, provided they are not used for copy trading and the trader owns the source code.
• News Trading Allowed: Traders are allowed to hold positions during news events, though caution is advised due to increased volatility and potential slippage.
• Weekend Trading Allowed: No requirement to flatten positions on Friday.
• No Compulsory Stop Loss: Traders are not required to set stop loss orders on their trades.
• No HFT: Scalping is allowed but high-frequency trading (HFT) strategies are not permYesitted.
• Hedging Allowed: Hedging is permitted, but hedge arbitrage is not allowed.
• Inactivity Rule: Accounts will be closed after 30 consecutive days of inactivity to ensure that only active traders remain in the program.
• KYC Verification: Mandatory for accessing certain features and benefits, such as withdrawals and specific account upgrades.
• Refund of Challenge Fee: The initial challenge fee is refundable upon the first profit share payout.

Verdict on Audition Process and Challenges

IC Funded offers a challenging audition process that demands consistent performance and strict risk management. However, the relatively low one-time fees and structured evaluation levels make it a solid option for those looking to secure a funded account with competitive costs.

Spreads and Commission Fees

IC Funded provides forex spreads the same as those offered by IC Markets’ Global Raw Account. These spreads are sourced directly from liquidity providers, ensuring competitive pricing across various asset classes.

Forex Spreads

As per IC Markets ultra low raw spreads, when participating in the IC Funded challenge minimum spreads on popular forex pairs like EUR/USD are as low as 0 pips, and average 0.02 pips.

Commission Fees

IC Funded charges a commission of $3.50 per lot per round turn for forex trading, commodities, and indices.

Verdict on Spreads and Commissions

IC Funded provides prop traders with tight spreads and a transparent, flat-rate commission structure. The combination of low spreads, commissions, and audition fees makes IC Funded one of the most competitively priced prop firms.

Trading Instruments and Leverage

IC Funded offers a wide range of financial markets with 96 trading instruments in total over commodity, equity index, and forex markets.

• Forex: 66 currency pairs, covering major, minor, and exotic pairs.
• Commodities: 5 commodities, including Brent Oil, Crude Oil, Gold, and Silver.
• Indices: 25 global indices CFDs, such as AUS200, US500, UK100, and GER40.

Although offered by IC Markets, shares and crypto trading instruments such as Bitcoin or Ethereum are not offered by IC Funded.

Leverage

IC Funded offers leverage that differs between financial markets, with up to 50:1 leverage available for forex and gold, and 10:1 for indices and other commodities.

These leverage levels are designed to strike a balance between trading opportunities and risk management, enabling traders to optimise their positions according to the specific asset class they are trading.

Verdict on Markets and Leverage

IC Funded offers a good range of markets and leverage options, with up to 50:1 for forex and commodities, and 10:1 for indices. This balance supports both trading flexibility and risk management, making it a solid choice for prop traders.

Trading Platforms

IC Funded offers the three most popular platforms for prop trading being MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Each platform provides distinct features and tools that cater to different trading styles and preferences.

MetaTrader 4

MT4 is a popular choice among forex traders for its user-friendly interface and extensive support for automated trading through Expert Advisors (EAs). It offers a range of technical analysis tools, including customisable charts, multiple timeframes, and a variety of indicators.

MT4 also supports one-click trading and has a strong community of users who develop and share EAs and custom indicators.

MetaTrader 5

MT5 builds on the success of MT4 with additional features and improved performance. It supports more order types, additional timeframes, and an economic calendar integrated into the platform.

MT5 also allows for deeper market analysis with more advanced charting tools and supports trading in a wider range of asset classes beyond forex, including stocks, commodities, and futures. Like MT4, MT5 also supports EAs but with more sophisticated capabilities.

cTrader

cTrader is known for its advanced charting and order execution capabilities. It offers a highly customisable trading environment with a focus on transparency and ease of use. cTrader provides access to Level II pricing, allowing traders to see market depth and make informed decisions based on liquidity.

The platform also supports automated trading through cAlgo, where traders can develop and deploy custom trading algorithms. cTrader’s interface is intuitive, making it easy to manage multiple orders and analyse market data effectively.

Verdict on Trading Platforms

IC Funded provides solid trading platform options with MT4, MT5, and cTrader, offering tools that suit different trading styles. Each platform supports automated trading with EAs, but copy trading is prohibited.

Payments and Payouts

To pay the one off audition fee, IC Funded supports a variety of methods including:

• Cryptocurrency payments
• Mastercard and Visa
• Local currency options for specific regions:
  • Africa: ZAR, NGN, GHS, KES
  • Southeast Asia: THB, VND, MYR (with PapayaPay for local transactions)

Payouts and Withdrawals

After successfully completing the evaluation and starting on a funded account, IC Funded offers several options for withdrawing profits. The default payout schedule is monthly, where traders receive a 75% profit share, which increases to 80% after the first month.

For those who prefer more frequent access to their earnings, IC Funded allows on-demand withdrawals, available 14 days after the initial trade. Traders can also opt for bi-weekly payouts if that suits their needs better. Importantly, once traders make their first profit withdrawal, the evaluation fee is refunded, providing an added financial benefit.

Withdrawal Methods

IC Funded processes payouts through standard bank wire, Skrill, or various cryptocurrency options. While IC Funded does not charge withdrawal fees, traders should be aware of potential fees imposed by their bank or payment provider. To ensure transactions are cost-effective, a minimum net profit of $20 is required for bank wire transfers and $150 for crypto payouts.

Verdict on Payments and Payouts

IC Funded offers flexible and accessible withdrawal options, allowing traders to receive their profits through various methods without incurring internal fees. The option to request payouts monthly, bi-weekly, or on-demand gives traders control over their earnings. Additionally, the refund of the evaluation fee with the first profit withdrawal adds an extra benefit, making IC Funded one of the best prop firms for those wanting a reliable payout process.

Customer Support and Education

IC Funded offers 24/7 customer support and comprehensive educational resources to help traders successively prop trade.

Customer Support

IC Funded provides 24/7 customer service through live chat, offering quick and efficient responses to trader inquiries. The live chat feature is AI-assisted, ensuring that traders receive timely help for common questions and issues.

For more complex matters, the support team is available to assist via email or live chat, ensuring that traders can resolve technical questions or account-related concerns promptly. Yet, no direct contact number is available on their website.

Educational Resources

IC Funded offers a range of educational resources directly accessible through the client dashboard, designed to enhance traders’ knowledge and skills. The dashboard features a selection of curated videos covering current market trends and broader financial topics. Examples include “Could China’s Real Estate Crisis Crash the Global Economy?” and “The Rise of Superapps.”

In addition to these videos, the dashboard provides practical tutorials on trading strategies, platform navigation, and key market analysis, ensuring you can continuously develop your trading skills while staying updated on global financial events.

Verdict on Customer Service and Education

IC Funded provides solid 24/7 support and well-rounded educational resources, making it a good prop firm for traders looking to improve their skills and receive timely assistance.

Trust and Community

IC Funded is closely connected to IC Markets, a well-established and top-tier regulated broker known for its transparency and reliability in the financial industry.

This connection provides a solid foundation for trust, and while IC Funded is not a regulated broker or financial service provider, IC Markets has a strong reputation and overseen by financial regulators like ASIC in Australia and CySEC in Europe.

IC Funded TrustPilot Score

IC Funded has an excellent Trustpilot score of 4.4 out of 5 stars, reflecting positive feedback from traders who have used the platform. This high rating indicates a strong level of satisfaction among users, further reinforcing the trustworthiness of IC Funded.

IC Funded Trading Community

IC Funded does not use popular platforms like Discord for its community interactions; instead, it has established its own dedicated chat platform.

This unique approach allows for a more secure and controlled environment, minimising the risk of scams and misinformation that can often plague open networks. You can join this exclusive community through the link: IC Funded Community Chat.

This chat community, similar to a Discord server, is directly managed by IC Funded’s team, ensuring traders have access to direct communication with the firm, exclusive updates, and a space to interact safely with fellow traders. There are channels dedicated to different financial markets, sharing trading decisions, as well as a space where the prop firm shares payout proof for funded traders.

Social Media

With only 101 followers on LinkedIn, 1,000 likes on Facebook, and 3,244 followers on X, IC Funded’s social media presence is relatively small compared to competitors.

Verdict on Trust

IC Funded is a trustworthy prop firm, backed by its connection to regulated broker IC Markets, a strong Trustpilot rating, and a unique chat community. This combination of factors makes IC Funded a reliable choice for traders seeking a secure and reputable prop trading firm.

How to Sign Up to IC Funded

To get started with IC Funded and become a funded trader, you can follow these steps:

1. Visit the IC Funded Website: Go to the IC Funded website and navigate to the sign-up or registration section.
2. Choose Your Evaluation Plan: Select an evaluation plan with account sizes ranging from $5,000 to $500,000. Fees for these plans range from $49 to $2,498.
3. Create a Trading Account: Register by providing your personal information, including your name, email address, and preferred trading platform (MT4, MT5, or cTrader).
4. Complete the Payment: Pay the evaluation fee for your chosen account size to gain access to the evaluation process in a simulated trading environment.
5. Start the Evaluation: Access your evaluation account and aim to meet the profit targets (10% for Phase 1 and 5% for Phase 2) while adhering to risk management rules.
6. Pass the Evaluation: Successfully complete both phases of the evaluation to qualify for a funded account. Once passed, you’ll receive real trading capital based on your selected account size.
7. Receive Your Funded Account: Begin trading with your live funded account, where you’ll be eligible for profit splits starting at 75%, increasing to 80% after the first month.
8. Withdraw Profits and Continue Trading: Request withdrawals according to IC Funded’s payout schedule as you generate profits, and continue trading with your funded account.

Restricted Countries

IC Funded does not accept traders from the following countries due to regulatory restrictions and company policy:

• Americas/Caribbean: USA, Canada, Belize, Venezuela, Cuba, Saint Lucia
• Oceania: Australia, New Zealand
• Europe: Belarus, Belgium, Crimea (including Donetsk and Luhansk regions), Spain
• Africa: Central African Republic, Congo (Democratic Republic of the Congo), Eritrea, Ethiopia, Libya, Somalia, Sudan, Zimbabwe, Seychelles
• Asia: Afghanistan, Burma (Myanmar), North Korea, Iran, Iraq, Lebanon, Syria, Yemen, Hong Kong

Final Verdict on IC Funded

IC Funded offers a solid option for traders seeking access to funded accounts with low entry costs and the backing of a reputable broker like IC Markets. The firm’s strengths include a competitive profit split, flexible platform options, and a range of account sizes to suit different trading needs. However, the strict evaluation process and limitations like no copy trading may be challenging for some.

Traders who are confident in their abilities and looking for a cost-effective way to secure trading capital will benefit most from IC Funded. However, those who prefer more flexible trading conditions or require scaling options should carefully consider the firm’s limitations before committing.

For a prop firm with great scaling options, check out our full FTMO Review.