Finotive Funding review: Pros, Cons and Traders Ratings.
2.081 •
3 REVIEWS
Prop Firm
What is Finotive Funding?
Finotive Funding is a proprietary firm that offers prop trading on Forex Pairs, Indices, Commodities and a range of Cryptos.
Please read Finotive Funding Reviews below and share your prop trading with this prop firm.
Details
| Established: | 2021 |
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| Contact: | info@finotivefunding.com |
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2.081 •
3 REVIEWS
Recent User Reviews of Finotive Funding
D
dsaravana
Pallipalayam, India,
Mar 6, 2024,
Registered user
This firm is scamming traders
Service use: Other
Length of use: 6-12 Months
As 14+ Yrs experienced trader I say they will scam every trader at any point. You will understand only after you affected. As long as you are making small profits they will pay you. If you make huge payments. They will not pay you as they are not copying trades. They live by challenge money. Please trades completely avoid this scam company and save your money.
JordanTrader
Australia, Australia,
Dec 22, 2022,
Registered user
Update: It seems the whole thing was a misunderstanding
Service use: Live
Length of use: 0-3 Months
Please ignore my previous review, it was a misunderstanding that has now been resolved and I have received the account that I thought I would not receive. I would delete the review but that is not allowed on ForexPeaceArmy it seems.
Dec 21, 2022 - 1 Star FinotiveFunding has a very strict rule (that neither MFF or TFT have btw), that you cannot risk more than half of your daily drawdown in a single trade. This rule is mentioned on the dashboard after you buy an account, and I was confused so I asked one of their staff over live chat to clarify. Here is this conversation:
[07:00 ] Jordan : Hello
[07:00 ] Jordan : I just bought a challenge and am now seeing a few rules i didnt see before and just wanted to double check some things
[07:00 ] Jordan : This rule "Risking more than 50% of drawdown limits in a single trade."
[07:00 ] Jordan : is that 50% of maximum drawdown?
[07:00 ] Jordan : or 50% of daily drawdown
[07:03 ] Satesh : It's not a hard rule mate
[07:03 ] Satesh : It's just an example of trading that we are not trying to promote under our responsible trading policy
[07:04 ] Satesh : You will not be penalised if you happen to risk more than 50% of daily drawdown
Clearly, I have been told by their staff member that I WOULD NOT be penalised if I risk more than 50% of the daily drawdown. So I traded my account, I passed my phase 1 and phase 2, but they refused to upgrade me to the funded account stating that I broke the rule of not being allowed to risk more than 2.5% of your account per trade. I responded to them with the chat logs showing what Satesh told me, and asked them to kindly grant my funded account. They responded to me with the following:
"6 months ago Satesh had just started with us and has obviously given some incorrect information there I'm afraid. As per the terms and conditions, breaching the RTP does have consequences"
They are admitting that I was given the wrong information about the rules by a member of their staff, and in the very same sentence as admitting that THEY gave ME the wrong information, they still refuse to give me the account that I rightly earned trading by the rules they gave me.
Please DO NOT trade with Finotive. If this reason is not enough, I will also give further reasons below:
1. Their 2 main competitors have the same priced accounts(10% cheaper once you use on the online discount codes), AS WELL as they have larger drawdown limits, both daily and overall. They also have a far larger customer based and are very trusted in the prop firm space.
One has monthly coupon codes that not only extend the length of the challenges, but also increase the profit split payouts and the refund bonus for completing phase 2. Another has the added bonus of giving payouts of some of your earnings from Phase 1 and 2 of the challenge.
2. Finotive Funding has another rule hidden in their terms and conditions. If you fail a funded account, your next funded account will be LOCKED to a 25% profit split until you have paid back all of your previous losses. This is unheard of in the prop trading space. I have checked with the top 10 companies currently in the prop firm space, and not a single one of them has this rule.
There is no advantage to using Finotive, I was stupid to trust the fake reviews they have posted on trustpilot and other websites. Take your business to their competitors, they have better deals, better accounts, bigger customer bases, no hidden rules, and will not lie to you.
Also I have screenshots of all conversations as proof if anyone requires it.
Dec 21, 2022 - 1 Star FinotiveFunding has a very strict rule (that neither MFF or TFT have btw), that you cannot risk more than half of your daily drawdown in a single trade. This rule is mentioned on the dashboard after you buy an account, and I was confused so I asked one of their staff over live chat to clarify. Here is this conversation:
[07:00 ] Jordan : Hello
[07:00 ] Jordan : I just bought a challenge and am now seeing a few rules i didnt see before and just wanted to double check some things
[07:00 ] Jordan : This rule "Risking more than 50% of drawdown limits in a single trade."
[07:00 ] Jordan : is that 50% of maximum drawdown?
[07:00 ] Jordan : or 50% of daily drawdown
[07:03 ] Satesh : It's not a hard rule mate
[07:03 ] Satesh : It's just an example of trading that we are not trying to promote under our responsible trading policy
[07:04 ] Satesh : You will not be penalised if you happen to risk more than 50% of daily drawdown
Clearly, I have been told by their staff member that I WOULD NOT be penalised if I risk more than 50% of the daily drawdown. So I traded my account, I passed my phase 1 and phase 2, but they refused to upgrade me to the funded account stating that I broke the rule of not being allowed to risk more than 2.5% of your account per trade. I responded to them with the chat logs showing what Satesh told me, and asked them to kindly grant my funded account. They responded to me with the following:
"6 months ago Satesh had just started with us and has obviously given some incorrect information there I'm afraid. As per the terms and conditions, breaching the RTP does have consequences"
They are admitting that I was given the wrong information about the rules by a member of their staff, and in the very same sentence as admitting that THEY gave ME the wrong information, they still refuse to give me the account that I rightly earned trading by the rules they gave me.
Please DO NOT trade with Finotive. If this reason is not enough, I will also give further reasons below:
1. Their 2 main competitors have the same priced accounts(10% cheaper once you use on the online discount codes), AS WELL as they have larger drawdown limits, both daily and overall. They also have a far larger customer based and are very trusted in the prop firm space.
One has monthly coupon codes that not only extend the length of the challenges, but also increase the profit split payouts and the refund bonus for completing phase 2. Another has the added bonus of giving payouts of some of your earnings from Phase 1 and 2 of the challenge.
2. Finotive Funding has another rule hidden in their terms and conditions. If you fail a funded account, your next funded account will be LOCKED to a 25% profit split until you have paid back all of your previous losses. This is unheard of in the prop trading space. I have checked with the top 10 companies currently in the prop firm space, and not a single one of them has this rule.
There is no advantage to using Finotive, I was stupid to trust the fake reviews they have posted on trustpilot and other websites. Take your business to their competitors, they have better deals, better accounts, bigger customer bases, no hidden rules, and will not lie to you.
Also I have screenshots of all conversations as proof if anyone requires it.
Review moderation team note
If a company resolves issues and how a company resolves issues are valuable pieces of information for people considering doing business with a company.
S
Silvfl2020
USA, USA,
Dec 16, 2021,
Registered user
Please STAY AWAY Changing guidelines "terms and conditions"
Service use: Other
Length of use: 0-3 Months
Please STAY AWAY. They are constantly changing the guidelines. So traders do not get funded. This is a brand new company. Founded: July 1, 2021. They find any excuse mentioned in their "term and conditions" not to pay traders and make traders fail their challenge. They are making a lot of money from the initial fee. Be very careful before you join them. Once again, their rules are constantly changing. You might never get funded by them or even if you get funded, you might not get see a payout.