Phinaq Forex Funds is a proprietary trading firm based in Dubai Silicon Oasis, DDP, Building A1, Dubai, United Arab Emirates. The firm specializes in providing funding solutions for Forex traders, aiming to simplify the process and offer competitive pricing and packages. Their mission is to make Forex funding accessible and hassle-free for both new and experienced traders.
Funding Process
The funding process at Phinaq Forex Funds is designed to be straightforward:
Initiate Your Account: Traders begin by setting up an account with the firm.
Begin Your Assessment: After account initiation, traders undergo an assessment phase to evaluate their trading skills and strategies.
Complete Your Verification: Once the assessment is successfully completed, traders proceed to the verification stage, which includes submitting necessary documentation.
Get Funded: Upon verification, traders receive funding to commence trading.
This structured approach ensures that traders are adequately prepared and meet the firm's standards before accessing funds.
Funding Plans and Pricing
Phinaq Forex Funds offers various funding plans to cater to different trading needs. Each plan consists of two phases with specific equity growth targets:
$10,000 Funding Plan: Priced at $125, this plan requires a 10% equity growth in Phase 1 and a 5% growth in Phase 2. Traders receive 80% of account gains, with the option to increase this to 90%. Features include allowance for news trading and the use of Expert Advisors (EAs), no minimum or maximum trading days, a daily drawdown limit of 4%, and an overall drawdown limit of 8%.
$25,000 Funding Plan: At $275, this plan mirrors the $10,000 plan's structure and benefits.
$50,000 Funding Plan: Available for $385, offering the same features as the previous plans.
$100,000 Funding Plan: This plan costs $575 and maintains the consistent structure and benefits.
$200,000 Funding Plan: Priced at $1,075, it offers the same features as the other plans.
These plans are designed to accommodate traders at various levels, providing flexibility and support to help them achieve their trading goals.
Key Features
Phinaq Forex Funds distinguishes itself with several trader-centric features:
High Profit Sharing: Traders can earn up to 90% of their account gains, offering substantial earning potential.
Flexible Payouts: The firm provides payouts on demand, allowing traders to access their profits without delay.
Unlimited Trading Days: There are no restrictions on the number of trading days, giving traders the freedom to trade at their own pace.
No Consistency Rule: Traders are not bound by consistency rules, offering flexibility in trading strategies.
No Minimum Trading Days: The absence of minimum trading day requirements enables traders to progress through the funding process based on their performance rather than time constraints.
These features are designed to create a supportive trading environment that caters to the diverse needs of traders.
Trading Competitions
To foster a competitive spirit and provide additional opportunities, Phinaq Forex Funds organizes trading competitions. Traders compete against 30 others, with the highest profit maker winning funded accounts ranging from $10,000 to $100,000. Entry fees vary depending on the account size, and participants can trade any pair without lot restrictions. The overall drawdown limit is set at 6% for these competitions.
Phinaq Forex Funds positions itself as a reliable partner for traders seeking funding solutions, offering structured plans, flexible features, and a supportive environment to help traders achieve their financial goals.
