Trading with a small account isn’t very ideal, especially with the nature of the forex markets. Not only are your returns much smaller per trade, having a small account makes your journey to increase the size of your profits the much lengthier as well as challenging.
Small accounts and the need to make money from them can also lead traders down the rabbit hole of trading with more and more leverage, which can eventually evaporate what little capital they already had in their account in the first place.
That’s why for traders, getting funding through funded forex trader programs is ideal and should be the goal of every trader who trades with a smaller account. When you get a fully funded trading account, you gain access to much larger funds that you can then use to your advantage.
More considerable funds mean larger returns for both you and the trading program you are attached to. It doesn’t need to be hard to get funding for your forex trading either, as there are a lot of places willing to give you the funds you need as long as you can show them that you can put their funds to good use and generate profits for everyone.
This is where you can flex your forex trader muscles and show them what you are made of, and this part for most traders should be the easiest. A lot of these funded trader programs, like City Traders Imperium’s funded trader program, allow you to take a sort of test, where you trade with funds provided by them, to generate profit and pass to open the door to receive an even larger sum. This is where you can genuinely demonstrate your expertise with your rock-solid strategy and sound risk management skills to prove you can do the job. Most traders pass this stage with barely any obstacles, as the only obstacle will be the trader themselves.
With most, if not all, funded forex accounts, the profits you generate are split in a predetermined manner already agreed between yourself and the company. This is where there might be a few differences between funded trader programs because the percentage of the profits that goes to the trader varies between programs. Still, it is largely accepted that a 50-50 split of the profits is usually the fairest, rather than having a profit split where the trader makes less.
City Traders Imperium does this very well, splitting profits equally with traders, allowing everyone to make money in the fairest way possible. Another great benefit of trading with funded forex trader programs is that you just become an objectively better trader over time. You gain access to resources and a new community willing to assist you and give you advice on your trades. You also improve your discipline and risk management skills when you continuously follow the rules set in place to trade your funded forex account. The best part is that you can get set up with one of these programs in no time at all.
For example, getting set up with City traders Imperium’s funded forex trader programme can be done within a few hours. That’s how simple and easy it is to get started. So, all in all, becoming a funded trader doesn’t need to be challenging or time-consuming. Take the right step and maximise your potential.