Aqua Funded
Aqua Funded Review Overview (2025)
Aqua Funded is a Dubai-based proprietary trading firm established in December 2023 by founders Jason Blax, Franco Crean, and Sean Bainton. Despite being relatively new to the industry, the firm has rapidly gained recognition for offering competitive trading conditions, including high profit splits, multiple challenge types, and a clear scaling pathway. Operating under the leadership of CEO Jason Blax, Aqua Funded claims to have over 28,000 traders worldwide and has reportedly paid out more than $2.4 million to successful traders.
What distinguishes Aqua Funded is their diverse range of evaluation options, including one-step, two-step, and three-step challenges, as well as instant funding accounts. With initial funding options ranging from $2,500 to $200,000 and the potential to scale up to $2 million, they accommodate traders at various experience levels. Their profit splits, which can reach up to 100% depending on the account type, are among the most competitive in the industry, though various conditions apply.
Pros
- 100% refundable challenge fees upon successful evaluation
- High profit splits up to 100%, among the highest in the industry
- No time limits on evaluation challenges
- Fast bi-weekly payouts with a 48-hour guarantee (or $500 bonus)
- Clear scaling plan up to $2 million
- Multiple challenge options to suit different trading styles
- EA and copy trading allowed on all account types
- Weekend and overnight holding permitted
Cons
- Limited operating history (less than 2 years in business)
- Strict consistency rules for instant funding accounts
- News trading restrictions during funded phase
- Some disallowed trading strategies may limit certain traders
- Potential concerns about the firm's regulatory compliance
- Limited independent verification of performance claims
Is Aqua Funded Right For You?
Aqua Funded may be particularly well-suited for traders seeking higher profit splits and flexible challenge options without time restrictions. Their 100% refundable challenge fees reduce the financial risk of attempting their evaluation process. The firm's multiple challenge structures allow traders to choose options that best match their trading style, experience level, and capital requirements.
However, traders should carefully consider the firm's relatively short operational history and the limited independent verification of their claims. Those who primarily engage in news trading or employ strategies on Aqua Funded's prohibited list may find the restrictions limiting. Risk-averse traders might prefer more established firms with longer track records, despite potentially less favorable profit splits or challenge conditions.
Trading Conditions
Aqua Funded offers competitive trading conditions through its partnerships with reputable brokers like ThinkMarkets. Here's a detailed breakdown of what traders can expect:
Leverage & Risk Parameters
Aqua Funded offers varying leverage options depending on the challenge type:
- Standard Challenges: Up to 1:100 leverage
- Pro Challenges: Up to 1:50 leverage
- Instant Funding (Standard): 1:30 leverage
- Instant Funding (Pro): 1:50 leverage
Risk management is enforced through daily and overall drawdown limits that vary by program. For most challenges, there's a maximum daily loss limit of 3-5% and a maximum overall drawdown of 5-10%. The exact parameters depend on the specific challenge type and account size.
News Trading Rules
Aqua Funded's policy on news trading varies between evaluation and funded phases:
- Evaluation Phase: News trading is generally allowed without restrictions.
- Funded Phase: Traders are restricted from opening or closing positions 5 minutes before and after high-impact news events and "red folder" events. Any profits made during these restricted periods may be removed, though this typically won't result in account violations.
- FOMC Events: Trading is strictly prohibited during Federal Open Market Committee announcements.
Trading Features
Aqua Funded allows several trading practices that are often restricted by other prop firms:
- Expert Advisors (EAs): Automated trading systems are permitted across all account types.
- Copy Trading: Trade copiers are allowed, with some specific conditions depending on the account type.
- Hedging: Opening opposing positions is permitted on the same account.
- Overnight Holding: Positions can be held overnight on all account types.
- Weekend Trading: Weekend crypto trading is specifically allowed.
- Stop Loss: Not required on trades.
Disallowed Strategies
Despite their generally flexible approach, Aqua Funded prohibits several trading practices:
- Latency arbitrage
- Using non-public or insider information
- Hedging with multiple accounts
- Off-the-shelf EAs
- Front running trades
- All-or-nothing strategies
- Tick scalping
- Arbitrage
- High-frequency trading
- Reverse arbitrage
Account Types & Pricing
Aqua Funded offers a diverse range of account types to accommodate different trading styles and experience levels. Each program has its own evaluation structure, capital allocation options, and specific trading rules.
1. One-Step Standard Challenge
A streamlined, single-phase evaluation process:
| Account Size | One-Time Fee | Daily Drawdown | Max Drawdown | Profit Target | Profit Split |
|---|---|---|---|---|---|
| $5,000 | $67 | 3% | 6% | 9% | 100% |
| $10,000 | $113 | 3% | 6% | 9% | 100% |
| $25,000 | $227 | 3% | 6% | 9% | 100% |
| $50,000 | $337 | 3% | 6% | 9% | 100% |
| $100,000 | $527 | 3% | 6% | 9% | 100% |
| $200,000 | $1,017 | 3% | 6% | 9% | 100% |
Key Features:
- Leverage: Up to 1:100
- Minimum trading days: 3
- Scaling: 25% account increase for 12% profit in 3 months
- News trading: Allowed during evaluation, restricted in funded phase
- EAs and copy trading allowed
- Weekend and overnight holding allowed
- 14-day payouts
2. One-Step Pro Challenge
A higher-target option with more flexibility:
| Account Size | One-Time Fee | Daily Drawdown | Max Drawdown | Profit Target | Profit Split |
|---|---|---|---|---|---|
| $5,000 | $59 | 3% | 8% | 12% | 100% |
| $10,000 | $99 | 3% | 8% | 12% | 100% |
| $25,000 | $199 | 3% | 8% | 12% | 100% |
| $50,000 | $289 | 3% | 8% | 12% | 100% |
| $100,000 | $459 | 3% | 8% | 12% | 100% |
| $200,000 | $899 | 3% | 8% | 12% | 100% |
Key Features:
- Leverage: Up to 1:50
- No minimum trading days required
- Scaling: 25% account increase for 12% profit in 3 months
- News trading: Allowed during evaluation, restricted in funded phase
- EAs and copy trading allowed
- Weekend and overnight holding allowed
- 14-day payouts
3. Two-Step Standard Challenge
A traditional two-phase evaluation model:
| Account Size | One-Time Fee | Daily Drawdown | Max Drawdown | Profit Target | Profit Split |
|---|---|---|---|---|---|
| $5,000 | $57 | 5% | 8% | 8% (P1), 5% (P2) | 100% |
| $10,000 | $103 | 5% | 8% | 8% (P1), 5% (P2) | 100% |
| $25,000 | $217 | 5% | 8% | 8% (P1), 5% (P2) | 100% |
| $50,000 | $317 | 5% | 8% | 8% (P1), 5% (P2) | 100% |
| $100,000 | $517 | 5% | 8% | 8% (P1), 5% (P2) | 100% |
| $200,000 | $997 | 5% | 8% | 8% (P1), 5% (P2) | 100% |
Key Features:
- Leverage: Up to 1:100
- Minimum trading days: 3 per phase
- Scaling: 25% account increase for 12% profit in 3 months
- News trading: Allowed during evaluation, restricted in funded phase
- EAs and copy trading allowed
- Weekend and overnight holding allowed
- 14-day payouts
4. Three-Step Challenge
A comprehensive three-phase evaluation:
| Account Size | One-Time Fee | Daily Drawdown | Max Drawdown | Profit Target | Profit Split |
|---|---|---|---|---|---|
| $10,000 | $77 | 4% | 8% | 6% (P1), 6% (P2), 6% (P3) | 100% |
| $25,000 | $157 | 4% | 8% | 6% (P1), 6% (P2), 6% (P3) | 100% |
| $50,000 | $237 | 4% | 8% | 6% (P1), 6% (P2), 6% (P3) | 100% |
| $100,000 | $377 | 4% | 8% | 6% (P1), 6% (P2), 6% (P3) | 100% |
| $200,000 | $677 | 4% | 8% | 6% (P1), 6% (P2), 6% (P3) | 100% |
Key Features:
- Leverage: Up to 1:100
- Minimum trading days: 3 per phase
- Scaling: 25% account increase for 12% profit in 3 months
- News trading: Allowed during evaluation, restricted in funded phase
- EAs and copy trading allowed
- Weekend and overnight holding allowed
- 14-day payouts
5. Instant Funding Options
Aqua Funded offers two types of instant funding accounts that provide immediate access to trading capital without an evaluation phase:
Instant Standard
| Account Size | One-Time Fee | Daily Drawdown | Max Drawdown | Profit Split |
|---|---|---|---|---|
| $5,000 | $210 | 3% | 6% | Up to 100% |
| $10,000 | $420 | 3% | 6% | Up to 100% |
| $25,000 | $950 | 3% | 6% | Up to 100% |
| $50,000 | $2,145 | 3% | 6% | Up to 100% |
Instant Pro
| Account Size | One-Time Fee | Daily Drawdown | Max Drawdown | Profit Split |
|---|---|---|---|---|
| $2,500 | $60 | 3% | 5% | Up to 100% |
| $5,000 | $115 | 3% | 5% | Up to 100% |
| $10,000 | $155 | 3% | 5% | Up to 100% |
| $25,000 | $310 | 3% | 5% | Up to 100% |
| $50,000 | $465 | 3% | 5% | Up to 100% |
| $100,000 | $750 | 3% | 5% | Up to 100% |
Key Features of Instant Funding:
- No evaluation phase required
- Leverage: 1:30 (Standard) or 1:50 (Pro)
- Minimum trading days: 5 before first payout
- Consistency rules apply: 40% for Standard, 15% for Pro
- EAs and copy trading allowed
- Weekend and overnight holding allowed
- 14-day payouts
- Profit target: None
- Profit split increases to 95% after 4 consecutive months of achieving 4% profit
Evaluation Process
Aqua Funded offers multiple evaluation paths, each with its own structure and requirements. None of the programs impose time limits, allowing traders to progress at their own pace while focusing on consistent profitability and risk management.
The one-step challenge offers the most streamlined evaluation process:
- Single Phase: Just one evaluation stage with a 9% (Standard) or 12% (Pro) profit target
- Standard: 6% maximum drawdown and 3% daily drawdown
- Pro: 8% maximum drawdown and 3% daily drawdown
- Standard requires 3 trading days minimum; Pro has no minimum
- Upon reaching the profit target, traders receive a funded account
- Bi-weekly payouts available once profit targets are achieved
- News trading allowed during evaluation but restricted in funded accounts
The two-step challenge follows a traditional two-phase evaluation structure:
- Phase 1: 8% profit target with 8% maximum drawdown and 5% daily drawdown limits
- Phase 2: 5% profit target with the same drawdown limits
- Minimum 3 trading days required in each phase
- News trading allowed during evaluation phases
- After passing both phases, traders receive a funded account with a 14-day payout cycle
- News trading restrictions apply to funded accounts
The three-step challenge offers a more comprehensive evaluation:
- Phase 1: 6% profit target with 8% maximum drawdown and 4% daily drawdown limits
- Phase 2: Another 6% profit target with the same drawdown limits
- Phase 3: Final 6% profit target with the same drawdown limits
- Minimum 3 trading days required in each phase
- News trading allowed during evaluation phases
- After passing all three phases, traders receive a funded account with a 14-day payout cycle
- News trading restrictions apply to funded accounts
Instant funding accounts provide immediate access to trading capital:
- No evaluation phase required
- Start trading immediately after account setup
- Standard: 6% maximum drawdown and 3% daily drawdown
- Pro: 5% maximum drawdown and 3% daily drawdown
- Minimum 5 trading days before first payout
- Consistency rules apply:
- Standard: One trading day cannot exceed 40% of total profits in that payout period
- Pro: One trading day cannot exceed 15% of total profits in that payout period
- Profit split increases to 95% after 4 consecutive months of achieving 4% profit
Aqua Funded emphasizes fast and reliable payouts:
- Payout Schedule: Bi-weekly (every 14 days)
- Payout Guarantee: Processed within 48 hours or you receive an additional $500
- Payout Methods: Crypto and Rise
- First Payout: Available after meeting minimum trading day requirements
- Consistency Rules: Apply only to instant funding accounts
Scaling Program
Aqua Funded offers a scaling program across their challenge types:
Scaling Rules: Traders must make 12% profit within a 3-month period. Upon achievement, Aqua Funded increases the account size by 25% of the initial balance. This process continues until the trader reaches a maximum allocation of $2 million.
Instant Funding Scaling: For instant funding accounts, traders will need to make a 4% profit target each month for 4 consecutive months to increase their profit split to 95%.
Trader Review Analysis
Our comprehensive analysis of Aqua Funded's reputation draws on available review data, community discussions, and industry reports. While specific information on this relatively new firm is still developing, several key themes emerge from the available sources.
Review Platform Analysis
Based on available data, Aqua Funded maintains a positive rating on most review platforms. Their Trustpilot rating of 4.8/5 suggests a generally positive user experience, though the review count (approximately 648 reviews) appears relatively low compared to the firm's claimed user base of over 28,000 traders worldwide. This discrepancy between the number of reviews and the stated trader count raises questions about the representativeness of the feedback.
The distribution of reviews is particularly noteworthy, with approximately 79% being five-star and 9% being one-star. This pattern is consistent with what is observed across the prop trading industry, where satisfied users tend to leave positive feedback while those experiencing issues may either leave negative reviews or not review at all.
Common Themes in Positive Reviews
Recurring positive feedback about Aqua Funded includes:
- Customer Service Excellence: Multiple testimonials specifically praise responsive support, with users describing it as exceptional and noting quick responses to inquiries.
- Payout Reliability: Several users report successful payouts, including specific mentions of significant amounts (e.g., "first payout of over $13k").
- Fair Trading Conditions: Testimonials repeatedly emphasize the absence of "hidden rules" and praise the company's transparency.
- Challenge Flexibility: The variety of challenge options and absence of time limits are frequently highlighted as advantages.
- High Profit Splits: The competitive profit sharing structure (up to 100%) is often cited as a key benefit.
Common Criticisms and Concerns
Analysis of available criticism reveals several areas of potential concern:
- Firm's Recency: As a relatively new entrant (founded December 2023), Aqua Funded lacks the long-term track record that some traders prefer.
- Verification Issues: Some users report delays or complications in the verification process required before receiving payouts.
- Reduced Leverage After Funding: There are mentions of leverage being reduced when moving from evaluation to funded accounts, which some traders find restrictive.
- Consistency Rules: The consistency requirements on instant funding accounts (40% and 15% limits) are viewed by some as unnecessarily complex.
- Regulatory Concerns: Some traders express reservations about the regulatory oversight of Dubai-based prop firms in general.
Community Sentiment
Online trading communities show mixed reactions to Aqua Funded's offerings. While some traders are attracted by the high profit splits and refundable fees, others express skepticism about extremely low-cost promotional offers (e.g., a reported offer of a $5,000 2-step account for just $14). Such deep discounts have raised questions in some forums about the sustainability of the business model.
The Reddit community, in particular, demonstrates significant skepticism regarding extremely low-priced challenge offers, with some users expressing concerns about the firm's longevity. These discussions highlight the cautious approach many experienced traders take when evaluating newer prop firms with aggressive promotional strategies.
Key Strengths and Concerns
Key Strengths
- Customer Support: Consistently praised as responsive and helpful
- Payout Guarantee: 48-hour payout promise with $500 penalty adds credibility
- Refundable Fees: 100% refundable challenge fees reduce financial risk
- Flexible Challenges: Multiple evaluation options accommodate different trading styles
- High Profit Splits: Up to 100% profit sharing is highly competitive
- No Time Limits: Absence of time restrictions reduces pressure on traders
- EA and Copy Trading: Permitted across all account types
Concerns
- Limited History: Founded in December 2023, lacking long-term track record
- Aggressive Promotions: Extremely discounted offers raise sustainability questions
- Verification Process: Some reports of delays or complications
- Consistency Rules: Potentially complex restrictions on instant funding accounts
- News Trading Restrictions: Limitations during funded phase may impact certain strategies
- Regulatory Framework: Questions about oversight of Dubai-based prop firms
- Limited Independent Verification: Few independent sources confirming performance claims
Final Assessment
Aqua Funded presents a mixed profile that balances attractive trading conditions with the uncertainty inherent in a relatively new firm. Their high profit splits, refundable fees, and flexible challenge structures make them appealing to many traders. Customer support appears to be a particularly strong point, with consistent praise for responsiveness and helpfulness.
However, the firm's limited operational history (less than 2 years) means there is less data available to assess long-term reliability compared to more established competitors. The skepticism expressed in some trading communities regarding aggressive promotional offers suggests that cautious traders may prefer to see a longer track record before committing significant resources.
With an overall assessment score of 3.9/5 stars, Aqua Funded shows promise as a competitive option in the prop trading space, particularly for traders who value high profit splits and flexible challenge structures. Prospective traders should carefully consider both the attractive conditions and the limited track record when evaluating whether Aqua Funded aligns with their risk tolerance and trading goals.
Aqua Funded vs. Competitors (2025)
To help you understand how Aqua Funded measures up against other leading prop firms, we've created this head-to-head comparison of key features and conditions:
| Feature | Aqua Funded | FTMO | The 5ers | Funded Next |
|---|---|---|---|---|
| Founded | 2023 | 2017 | 2016 | 2021 |
| Max Account Size | Up to $2M (with scaling) | Up to $400K | Up to $4M (with scaling) | Up to $400K |
| Profit Split | Up to 100% | 70-90% | 50-100% | 70-90% |
| Time Limit | None | 30 days | None | Phase 1: 30 days Phase 2: 60 days |
| Platforms | MatchTrader, Trade Locker | MT4, MT5, cTrader | MT5 only | MT4, MT5 |
| Payout Frequency | Bi-weekly | Monthly | Bi-weekly | Bi-weekly |
| Daily Drawdown | 3-5% | 5% | 3-5% | 5% |
| Refundable Fees | Yes (100%) | Yes (partial) | Yes (partial) | Yes (partial) |
| News Trading Allowed | Restrictions in funded phase | Yes | Yes (with some restrictions) | Yes |
| EA Trading Allowed | Yes | Yes | Yes | Yes |
This comparison highlights Aqua Funded's competitive advantages in terms of profit splits (up to 100%), refundable fees (100%), and absence of time constraints. However, their relatively recent founding (2023) means they have less of an established track record compared to competitors like FTMO and The 5ers. The choice between these firms will largely depend on individual priorities, such as maximum profit split vs. proven longevity, or platform preferences vs. account scaling potential.