As we transition from 2023 into 2024, it’s a perfect time to reflect on the journey of the Funded Engineer since its inception on April 13th, 2023.
We would like to take a moment to extend heartfelt congratulations to all our traders who have achieved remarkable success this past year. Your outstanding performance and the impressive payouts earned are not just a testament to your skill but also a source of inspiration for the entire trading community. As we embark on this review, we hope that it will enlighten and motivate both current and aspiring traders.
In this blog, we’ll shed light on the impressive performance statistics, detailed payout data, and country-by-country analysis that together paint a vivid picture of traders’ success with Funded Engineer.
Pay-out Review
Since the start of the Funded Engineer in April 2023, a total of $9,585,526.38 was distributed across 2,187 payouts, reflecting an impressive average of $4,382.95 per payout. This remarkable figure not only highlights the monetary rewards involved but also underscores the trading skills of our traders from across the world. We are delighted to share that our global reach has expanded significantly, with traders from 118 different countries now receiving payouts.
Monthly Pay-outs
Let us have a quick peek at the progression of our monthly pay-out amounts made to our traders. We are delighted to see the figure jump from $29,634.52 in May to the highest monthly pay-outs of $2,717,562.97 in November, within a mere 7-month period.
Highest Individual Pay-outs
Let us draw inspiration from the highest amounts paid in a single Pay-out to our traders. We look forward to witnessing even more traders surpass these impressive figures in the year 2024.
Top 10 countries with highest total Pay-outs
Demonstrated below are the top ten countries in terms of total payouts processed. Leading the charge is the United States, with traders receiving a whopping $1,716,848.42 across 246 payouts.
The United Kingdom follows with $915,287.82 from 239 payouts. Not far behind, India’s traders have been rewarded with $542,326.85 over 134 payouts.
Andrew Neagu from Romania holds the record for the highest number of approved payouts at Funded Engineer, with an impressive tally of 20 payouts. Narrowly trailing him, Kyle NG from the US has achieved 16 approved payouts. Demonstrating remarkable consistency, the average amount disbursed per payout for Andrew and Kyle stands at $4228.24 and $3,455.65, respectively, showcasing their exceptional trading skills and success within our platform.
We are delighted to see that an average of 24.83% of traders get paid once they secure Simulated Funded Accounts across all programs we offer at Funded Engineer. We hope to see this percentage increase even further in the year 2024, as we continue to foster a supportive environment for our traders’ success.
Oldest Simulated Funded Traders
Below are the Oldest Simulated Funded traders at Funded Engineer from each Program offered. Leading the pack of our traders is Jeofrey Cuala from the Philippines, who is still an active trader with Funded Engineer since June 1, 2023.
Pass-Fail Ratio
The overall Pass-Fail ratio at Funded Engineer stands at 12.57%. Accounts with a balance of $6,000 and $10,000 show a high number of traders but a lower pass rate, at 9.40% and 10.83% respectively. Interestingly, as the account balance increases, so does the Pass-Fail ratio, with $25,000 accounts achieving an 11.54% pass rate and $50,000 accounts even higher at 11.90%.
The most significant insight comes from the larger account sizes. The $100,000 accounts not only have a substantial number of traders but also boast a higher Pass-Fail ratio of 13.52%. $200,000 and $300,000 account sizes have a Pass-Fail ratio of 16.98% and 13.82% respectively.
Below, we have categorized the Pass-Fail Ratio by country:
Trading Instruments’ Allocation
It appears that the golden allure of XAUUSD captivated a significant portion of traders, accounting for a substantial 24.18% of trade followed by EURUSD accounting for 7.37% of total trade allocation.
EURUSD takes the crown as the most profitable instrument, indicating its favorable status in the market. On the flip side, GBPJPY finds itself at the other end of the spectrum as the least profitable instrument, suggesting it may be the trickiest pair to master.
As we close the chapter on 2023, we reflect on a year where Funded Engineer not only launched but thrived, connecting traders from every corner of the globe. With a total payout exceeding $9.5 million across 2,187 payouts and touching lives in 118 countries, we’ve seen the true potential of strategic trading.
We are filled with anticipation for the future, eager to build on this momentum and elevate our traders to new heights of success in 2024. Here’s to another year of breaking barriers and achieving milestones together at Funded Engineer.
