ProFund888 Review: Is This Prop Firm Legit Or A Scam?

Greetings and welcome to Profund888 Review.

You may have encountered ProFund888 without much knowledge about it, in which case, this review aims to provide you with a comprehensive understanding of the platform.

ProFund888 is a facilitator for individuals seeking to explore their online trading potential to achieve financial independence.

Their funding program ensures that anyone joining their platform gains access to the forex market.

However, it is crucial to note that specific trading rules and associated risks must be adhered to to succeed in this program.

Within the confines of this review, I’ll furnish you with a detailed analysis of the ProFund888 platform, shedding light on its true nature.

Consequently, reading this review will equip you with the necessary insights to determine whether joining or abstaining from this program aligns with your trading aspirations.

With that clarification in mind, let us commence our exploration…

Table of Contents

Profund888 Review Summary

Name: Profund888

Product Type: Proprietary Firm

Evaluation Fee: $255

Official Site: https://www.profund888.com/

Year Founded: 2023 (August)

Current CEO: Armir

Founders: Three Unnamed Passionate Traders (Armir might be part of)

Overall Rating: 7/10

My Recommendation: Yes, but not for everyone.

Profund888 Review – Overview

The ProFund888 platform enables traders to explore their trading skills online and succeed in the forex market.

The company mainly targets proprietary traders worldwide or those who want to venture into the forex trading business.

The prop firm’s funding program enables traders to choose their desired account size and begin their trading journey in the market.

The prop firm allows them to trade various tradable assets, including forex pairs, equities, indices, and cryptocurrencies.

This provides you with multiple options to choose from while trading to enable you to maximize your trading.

The company’s expert team is committed to offering you exceptional customer support and is dedicated to helping you thrive on your trading journey.

Related Review: OFP Funding

According to the program, if you join their funding program, you can trade using the company’s capital in the forex market.

The program also harnesses the power of modern technology to enhance the performance of its services and dashboard, ensuring you have access to cutting-edge tools and features.

This makes your trading process easier because you can easily keep track of your trading procedure, maintain high profitability, and manage your risks effectively.

Pros Of Profund888

Profitability and accountability in trading.
Excellent support and mentorship program.
Transparency and accountability in the trading process.
God collaborating opportunities in the trading platform.
Excellent risk management services.
Substantial trading capital in the platform.

Cons Of Profund888

No free retry on the platform.
Not a suitable option for beginners.
Too expensive for small traders.

Who Should Join Profund888?

ProFund888 program is on the lookout for individuals at least 18 years old, eager to embark on an online trading journey and explore their trading potential.

The prop firm also seeks highly skilled traders who aspire to achieve their profit targets through online trading.

Strong trading skills are essential to maintaining high profitability throughout your trading journey and realizing the full potential of your trades.

It’s important to note that the prop firm expects you to demonstrate effective risk management to thrive in your trading endeavors.

If you struggle with profitability or lack the necessary trading skills, it’s crucial to understand that success in the program may prove elusive.

Furthermore, if you cannot manage your risks effectively, you risk potentially losing your trading account on the platform.

What Is Profund888?

ProFund888 is a proprietary trading platform founded by three professional traders (no names outrightly mentioned) with a common vision of changing the trading landscape.

The prop firm has backgrounds in cryptocurrencies, forex pairs, and interest rates and embarks on trading journeys.

According to the prop firm, the three experts have been trading for more than 18 years in the forex market.

This made them join forces in forming the ProFund888 to make them expand their trading services in the program.

The proprietary firm aims to empower its traders and make waves in the market.

For this reason, they aim to allow traders to trade in the forex market and achieve their trading goals.

I wish I could have seen the names of the three individuals mentioned as the founders of the prop firm; knowing their identities could have added a sense of credibility.

Who Established Profund888?

Let me be transparent with you on this matter.

While conducting an extensive search across the web for information about the creators of this proprietary trading firm, I uncovered limited details.

It appears that three dedicated traders collaborated to establish this prop firm.

Interestingly, no specific names have been disclosed, except for the CEO, Armir, whom I stumbled upon on X (formerly known as Twitter).

However, I cannot confirm whether the CEO was one of the original founders.

This situation raises a notable concern because the individuals behind it should openly and proudly identify themselves to establish a platform’s legitimacy.

Also Read: FunderPro Review

It’s worth noting that this prop firm was launched in August 2023, just a few weeks before the publication of this review.

Consequently, they may be in the process of gradually revealing more information.

Rest assured, if any pertinent details about these individuals surface online, I’ll promptly bring them to your attention.

What Are The Steps Of Joining Profund888 Prop Firm?

To join the proFund888, you will have to pass through the following steps:

Step One: Registration

The prop firm welcomes traders from all around the world to become a part of their trading community.

During your registration process, you can access their account packages and explore the various services offered on the platform.

Step Two: Choose Your Account Package

Up to six account packages are available in the prop firm to purchase to start trading.

Here are the available account sizes in the platform:

$25,000 account.
$50,000 account.
$100,000 account.
$200,000 account.
$400,000 account.
$500,000 account.

After purchasing your package, you’ll get the opportunity to get started with your assessment test on the platform.

How Does The Profund888 Work?

The ProFund888 allows you to access their capital in the funding program.

There are two types of accounts in the platform, which you need to choose from to start trading.

They include the one-step and the two-step challenge account.

One-Step Challenge Account

Here is the procedure for how the prop firm provides you with their trading capital which is divided into two steps:

Step One: Challenge

This step lets you prepare to start trading with the company funds in the funded account.

In this step, the prop firm expects you to prove your trading skills, maintain trading discipline, and meet the profit targets.

In addition, you will also have to exhibit responsible risk management strategies that prevent you from breaking the trading rules.

This stage only has one stage, which prepares you to start your trading process on the platform and show the company you are a pro trader.

Step Two: Live Account

The verification is the final step in the program that enables you to become a funded star on the platform.

In this step, the trading rules are much less demanding and allow you to begin your trading journey in the forex market.

The prop firm promises you a new trading adventure that enables you to have a conducive trading environment.

Two Steps Account

In the two-step account type, the prop firm takes you through a two-step evaluation process before you can qualify for the funded account.

The trading accounts available in this account type are similar to those in the one-step account type.

In addition, the two-step account type shares similar trading rules set in the platform with the one-step account type.

However, the two account types differ in pricing; kindly continue reading this review to review each account type’s pricing.

Profund888 Trading Rules

Here are the available trading rules in the ProFund888 on the platform:

Trading Leverage

The prop firm allows traders to trade with a maximum leverage of 1:100.

Time

The ProFund888 does not set a time limit for traders on the platform.

Maximum Drawdown

The maximum drawdown in the platform is set at 6%, calculated based on your initial account balance.

For instance, if your initial account balance is $100,000, you cannot lose more than $10,000 in the prop firm.

Profit Target

In the ProFund888 challenge, the prop firm sets a profit target of 10% to enable you to qualify for the live account.

For this reason, you must showcase your trading skills that will enable you to pass the profit target on the platform.

If you fail to reach a profit target, you will not be qualified for a trading account.

Daily Drawdown

The ProFund888 prop firm sets the daily drawdown at 5%, which you cannot go beyond to continue trading.

For instance, if you are trading on $100,000, you should not lose more than $5,000 to continue your trading journey.

Breaking this rule may make you risk losing your trading account on the platform.

News trading

The prop firm allows news traders in the prop firm.

Profit split

The ProFund888 provides traders with a profit share of up to 80% of their total profits in their trading process.

For instance, if you get a profit share of $10,000, you will get up to $8,000 in your trading.

The prop firm takes the corresponding $2,000 in your platform trading journey.

Minimum trading days

There are no trading days set on the platform.

For this reason, you’ll be free to trade on the platform at your own speed in the prop firm.

The Trading Instruments Available On The Profund888

ProFund888 allows traders to trade the following instruments on the platform:

Forex pairs
Cryptocurrencies
Equities
Indices
CFDs

On the other hand, ProFund888 allows you to trade in the Metatrader4 and Metatrader5 platforms in the forex market.

These are the most common platforms many traders use to execute their trades in the forex market.

This eliminates the doubts of anyone being left out when choosing your best platform for executing a trade in the forex market.

What Is A Profund888 Trusted Broker?

ProFund888 asserts its commitment to safeguarding your funds while you trade with their capital in the forex market.

The prop firm has chosen Eightcap as its trusted and preferred broker for your forex trading journey to uphold this promise.

Eightcap, a reputable broker, enjoys a strong online reputation and is regulated by several legal authorities worldwide.

What Makes The Profund888 Different From Other Prop Firms Online?

Here are some of the things that make ProFund888 different from other prop firms:

Newness in the market

ProFund888 seems to be a new prop firm in the forex market and has still not managed to release all its features online.

Traders are still expecting to see other improved features of the platform in the future which will make it match other platforms.

This makes the ProFund888 prop firm still fall under the category of a premature proprietary firm in the forex market.

One Step Funding

Most prop firms allow traders to pass through at least two evaluation steps before reaching a funded account.

However, ProFund888 presents a different case, as it only allows you to pass through a one-step challenge.

This makes it faster to reach the funded account and start trading with real money in the forex market.

More relaxed ruleset

The trading rules set in the ProFund888 prop firm are easier and more straightforward than most online.

For instance, the traders on the platform are allowed to trade news, copy trading and trade with expert advisors.

What Are The Benefits Of Joining Profund888?

Collaboration opportunities

The prop firm provides you with the opportunity to connect and collaborate with other traders within their community.

This strategy allows you to engage in discussions, share your trading ideas, and learn more from fellow traders online.

This approach also enables the prop firm to create a more conducive ecosystem for trading in the forex market.

Flexibility and Autonomy

ProFund888 allows you to enjoy the freedom of trading remotely more flexibly to achieve more out of your trade.

This also allows you to work from anywhere you are in the world, provided there is an internet connection with a supportive trading device.

In addition, the firm enables you to maintain a work-life balance while pursuing a passion for trading on the platform.

Offers a substantial trading capital

The prop firm allows you to unlock your trading potential within its funding program to enable you to achieve your financial freedom.

This lets you take advantage of the lucrative market opportunities available and maximize your earnings.

The substantial capital is available for everyone who joins the platform and becomes implemented when you pass your assessment.

Performance-based growth

The prop firm claims that your success is their priority, and you will aim to maintain high profitability.

The prop firm also encourages traders to adhere to the prop firm trading guidelines set in the platform.

In addition, the prop firm offers progressive growth opportunities, which include potential profit sharing and increased capital allocation.

Excellent risk management

The prop firm claims to understand the importance of good management in trading.

Their experienced team takes you through comprehensive risk management strategies before you start trading.

This ensures that you build a solid foundation for efficiently managing your risks in the platform.

What Is The Cost Of Joining The Profund888?

The cost of joining the ProFund888 varies depending on the account size you choose on the platform.

One-Step Challenge Account Type

Here is a breakdown of each account size and their corresponding prices for the step challenge account type:

$25,000 account costs $268.
$50,000 account costs $372.
$100,000 account costs $572.
$200,000 account costs $1050.
$400,000 account costs $2,000.
$500,000 account costs $2,500.

Two-Step Challenge Account Type

On the other hand, the two-step challenge account has unique prices for every account size offered on the platform.

Here is a breakdown of every account size and its corresponding pricing as set in the platform:

$25,000 account costs $255.
$50,000 account costs $355.
$100,000 account costs $545.
$200,000 account costs $1000.
$400,000 account costs $1900
$500,000 account costs $2,400.

Besides these fees, there are no hidden charges or extra costs associated with the platform.

The prop firm expects you to pay for your preferred account size from the dashboard to enable you to begin your trading journey.

Failure to pay the pricing for these accounts in the platform will deny you this opportunity.

Payout

The prop firm allows you to withdraw your profits at a share of up to 80% in the platform.

When you are ready to withdraw your profits, the prop firm allows you to email their support team the amount you want to withdraw.

The prop firm then deposits your profit share into your Deel account to allow you access to your funds.

A variety of withdrawal methods are allowed in the platform; this allows you to choose your preferred method.

However, the prop firm only allows you to withdraw once a month.

In addition, when you withdraw, the prop firm also withdraws its corresponding profit share.

For instance, when you make a total profit of $10,000, you’ll withdraw up to 80% while the prop firm withdraws 20%.

This means that your remaining account balance will be less than $10,000 after you withdraw.

Refund Policy

The prop firm doesn’t mention any money-back service on their website.

This means there is no guarantee that the prop firm may provide you with guaranteed money-back services if you quit the program.

For this reason, you must be prepared to take risks when trading in this prop firm and focus more on achieving your success on the platform.

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Is ProFund888 Legitimate Or A Scam?

ProFund888, the proprietary trading firm, is not a scam.

The firm pledges to grant you access to its trading capital, optimizing your trading endeavors.

You can select your desired account size within their funding program and initiate forex trading.

Before granting access to a real account, the firm evaluates your abilities through a challenging assessment.

You must demonstrate your trading prowess by meeting your specified profit target to succeed.

Consequently, a high level of trading expertise is imperative to navigate their assessment process successfully.

Failing the assessment means you won’t secure a funded account.

Furthermore, ProFund888 has a set of strict rules that must be followed to ensure the preservation of your trading account.

Violating these rules can result in suspending or potentially losing your account.

It’s crucial to note that ProFund888 does not provide a second chance for traders who lose their accounts.

Therefore, the firm is most suitable for traders comfortable taking risks during their trading journey.

Additionally, it can be advantageous for experienced traders lacking the necessary capital to explore their full trading potential online.

However, caution is advised as ProFund888 is relatively new, and limited information is available to substantiate their claims.

Moreover, the absence of clear ownership information may raise trust issues, making it essential to exercise due diligence before engaging with such a platform.

My Assessment Of Profund888 Prop Firm

I base my assessment of the ProFund888 proprietary trading firm on the following subtopics:

Profit Splits: 8/10

The ProFund888 offers the best profit share, which ranges up to 80% of the total profits you make from your trading process.

This profit share motivates traders to maximize their trade and earn the best from the forex market.

In addition, the high prop firm attracts more traders to the platform, which expands their trading community.

Scaling Opportunities: 4/10

Despite mentioning the scaling plan in their platform, the prop firm doesn’t explain it in detail.

This makes it difficult to predict their scaling percentage and the maximum amount you can reach after scaling.

It also makes it impossible to develop the requirements for the scaling plan to succeed in the platform.

Profit Targets: 6/10

The prop firm expects traders to pass a profit target of 10% for you to pass your evaluation process.

This profit target is unrealistic compared to targets set by other prop firms online.

For instance, other prop firms set as low as 5% profit targets in their evaluation process.

Affordability: 4/10

The affordability of ProFund888 is high as their account sizes begin with a higher value compared with other prop firms online.

For instance, the smallest account size in the platform is the $25,000 account which costs you up to $268.

Trader Supports 8/10

The ProFund888 claims to have a good strategic plan that ensures good customer support in their trading career.

In their support plan, the prop firm allows traders to ask questions and get answers from their expert team.

This also allows traders to seek guidance from the support team that helps them overcome challenges they face in their trading process.

Tradable Assets: 7/10

The prop firm allows you to trade numerous assets in the forex market, including forex pairs, cryptocurrencies and equities.

This allows you to choose and trade your preferred assets and maximize your trading outcome in the market.

Trustworthiness: 2/10

In my honest opinion, I don’t think the prop firm is transparent because they failed to offer the profiles of the three founders in detail.

If you’re a trader, you must get access to all the information you want to get to trust the platform.

Now, I had to search for the founders to no avail, which made them untrustworthy.

Overall Rating: 4/10

I would assign this proprietary trading firm an overall star rating of 4/10.

This rating is influenced by several factors, primarily the firm’s relative newness in the market and its limited online presence.

It’s worth noting that the company does not provide social media profiles for its founders, except the current CEO, whose role in the founding remains uncertain.

Furthermore, it’s important to highlight that the prop firm has yet to establish a significant reputation among traders, resulting in a limited overall star rating.

What Are People Saying

Here is what people are saying about ProFund888 prop firm online:

Trustpilot

As of September 6, 2023, the ProFund888 proprietary trading firm has not received any reviews or ratings on the Trustpilot platform.

This absence of feedback complicates assessing the firm’s credibility and reliability.

Moreover, the dearth of Trustpilot reviews makes it challenging to compare and rate the prop firm with other companies within the same industry.

FAQs About ProFund888

How Long Does It Take To Receive My Funded Account?

The firm partners with a separate company to issue trading agreements and conduct the withdrawal process.

Once you pass your assessment test, you will receive an email from Deel company providing you with instruction access and complete your trading agreements.

Upon completing the agreement and the company records your trading documents, your funded account will automatically be created.

Once I Pass My Assessment Test, Will I Be Provided With A Demo Or Live Account?

You’ll be eligible for a live account once you pass your assessment test on the platform.

The prop firm will provide you with a funded account where you will start trading with real money and earn your desired profit targets.

However, if you fail your assessment test, you’ll not get the opportunity to get the funded account in the platform.

When Can I Withdraw Profits From My Funded Account On The ProFund888?

The prop firm allows you to withdraw your profits anytime but once a month, as agreed with the Deel company.

At the time you are making the withdrawal of your profit share, the prop firm also withdraws its corresponding share.

Not that once you receive your withdrawals, the maximum trailing drawdown will be sent to your starting balance.

Where Can I Track The Progress Of My Account In The ProFund888 Prop Firm?

When you purchase your assessment package, you can access the dashboard to monitor your trading progress.

The dashboard is updated every time the prop firm calculates the trading metrics every sixty seconds.

When monitoring your trading progress, it is upon you to take note of your breaching levels in the platform.

What Is The Legal Relationship Between A Trader And The ProFund888?

The Affiliation between a trader and the ProFund888 prop firm is created through a contract agreement.

The agreement is signed upon completing the prop firm challenge and verification, where you will partner with the company.

The agreement is a legally bound document with obligations and privileges involving the trader and the prop firm.

Do Your Accounts Charge Commissions When Trading On The ProFund888?

The ProFund888 uses raw accounts from their trusted broker, Eightcap, which have some small commission charges.

The charges are from common trading instruments such as forex pairs, cryptocurrencies, and equities.

Apart from these mentioned assets, other products in the platform do not charge any commissions from traders.

Thank you for reading this ProFund888 Review.

Do you wish to add more information about this prop firm or have a follow-up question?

Don’t hesitate to leave a comment in the comment section below.