Waka Funding has been generating buzz in the trading community for its innovative approach and competitive offerings. Despite having limited public information, the firm has garnered positive reviews, especially for its swift payment processes and responsive customer support.
For traders looking for a firm with a straightforward evaluation process and a variety of instruments, Waka Funding might be an ideal choice.
Create an account today and take on the Waka Funding challenge!
Current Promotions at Waka Funding
As of now, no coupon codes were disclosed or accessible from their website. For the latest promotions and discounts, please visit the official Waka Funding site or contact their customer support.
Overview of Waka Funding Prop Firm
Waka Funding is known for its dedication to providing traders with a robust platform and favorable trading conditions. Although specific details about the company’s operations and history are sparse, the available information highlights several key aspects that set it apart from other prop firms.
Company Name
The official name of the firm is Waka Funding.
Address Details
The company has not publicly disclosed its address details.
Year of Establishment
The founding year of Waka Funding is not available.
Registration Location
Waka Funding is registered in the United Kingdom.
Ownership Information
Details regarding the ownership of Waka Funding were not disclosed on their website.
Trading Platforms Information
The specific trading platforms that Waka Funding uses are not disclosed on their website at this time.
Available Instruments for Trading
Waka Funding offers a variety of trading instruments, including:
- Forex
- Commodities
- Indices
- Metals
- Crypto
Payment Options
Waka Funding accepts the following payment methods:
- Bank Transfer
- Cryptocurrency
Account Size Options
Waka Funding provides various account sizes to suit different investment levels:
- $25,000
- $50,000
- $100,000
- $200,000
Profit Split Structure
Waka Funding offers a tiered profit split structure that improves with performance:
- Initial split: 50%
- Bi-weekly increases up to 80%
Evaluation Profit Target
The profit target for Waka Funding’s evaluation process is set at 10%.
Loss Rules and Daily Drawdown
Waka Funding has specific risk management parameters in place:
- Maximum Allowed Daily Loss: 4%
- Maximum Total Loss: 8%
Maximum/Minimum Trading Days at Waka Funding
Waka Funding ensures flexibility in its trading schedule:
- No Minimum Trading Days
- No Maximum Trading Days
Waka Funding Step Challenge Options
Waka Funding offers a simple challenge configuration:
- Challenge Type: One-step Evaluation
- Expected Profit: 10%
- Drawdown Thresholds: Usually 4% daily and 8% total.
Waka Funding Prop Firm Challenge Fee Breakdown
The cost to participate in Waka Funding’s challenges depends on the account type:
- $25,000 Account: $275
- $50,000 Account: $375
- $100,000 Account: $575
- $200,000 Account: $975
Commissions and Additional Fees at Waka Funding
$7 per lot is the set commission for traders at Waka Funding, a fee that aligns with the firm’s transparent billing practices. For other trading instruments, traders are only subject to the market spread, ensuring there are no hidden charges.
Refund Policy Enforcement at Waka Funding
At Waka Funding, the fees that traders pay are non-refundable, a policy that underscores the firm’s expectation for a serious commitment from its traders.
Trial Offers Availability at Waka Funding
Currently, Waka Funding does not offer trial periods. This policy is aligned with the firm’s strategic focus on attracting traders who are ready to engage actively and immediately with the trading environment.
Regularity of Payouts at Waka Funding
To accommodate the financial needs of its traders, Waka Funding has established a regular payout mechanism where traders can request their first withdrawal after 10 days of trading, with subsequent withdrawals possible every 5 days, ensuring steady and predictable access to earnings.
Waka Funding Prop Firm Website FAQ
Yes, hedging is allowed at Waka Funding. However, it is prohibited to use multiple accounts to hedge entries against each other, including hedging between clients. Hedging within one’s own account to protect a position is fully allowed. Hedging between different accounts or individuals by taking opposite positions in each is not allowed.
Yes, news trading is allowed at Waka Funding.
Leverage Details
For Challenge/Evaluation accounts, Waka Funding provides a leverage of 1:100. Real accounts offer leverage of 1:30, similar to what institutional traders have access to.
Transaction Commissions
With Eightcap, a $7 commission per lot on currency pairs is charged. Proportional commissions apply to partial lots. Indices, commodities, and other instruments incur only market spread with no additional commissions.
33% Consistency Rule Explained
The 33% Consistency Rule ensures no single transaction exceeds 33% of the requested profit during withdrawal. This rule promotes sound risk management and prevents excessive risk-taking, especially before significant news events.
Implementation during Funding:
This rule applies during the funding stage, using volume bands for consistent risk management.
For example, if a trader’s average lot size is 3 lots per trade over a month, a 10-lot trade before payday would breach the rule by exceeding 200% of the average volume. Similarly, trades 75% smaller than the average would also be excluded.
Formula: Average Lot Size: Total lots traded / Total transactions
Upper Limit: Average lot size x 2
Lower Limit: Average lot size x 0.25
Transactions are aggregated within a 30-second window to ensure consistency in volumes and profits.
Outcome:
Transactions outside the acceptable range are excluded, but the account remains active, with compliant transactions processed normally.
The rule is designed to balance competitiveness with long-term sustainability and market presence.
While some traders may find this rule restrictive, it encourages better trading habits and adherence to planned strategies.
