Waka Funding Review

Waka Funding Review

✔︎ Accounts: $25k - $200k
✔︎ Profit Split: 50% - 80%
✔︎ Profit Targets: 10%

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Waka Funding has been creating a significant buzz within the trading community due to its innovative approach and competitive offerings. Despite the limited amount of publicly available information, Waka Funding has garnered positive reviews, particularly for its quick payment processes and responsive customer support.

For traders looking for a straightforward evaluation process and a diverse range of trading instruments, Waka Funding could be an excellent choice.

Sign up today and take on the Waka Funding challenge!

Promo Codes for Waka Funding

As of this writing, no coupon codes were disclosed or available on their website. For the latest promotions and discounts, please visit the official Waka Funding site or contact their customer support.

Waka Funding Prop Firm: Key Details

Waka Funding is recognized 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 scarce, the available information highlights several distinguishing features.

Company Name

The firm is officially named Waka Funding.

Location Information

The company has not publicly disclosed its address.

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 are not disclosed on their website.

Trading Platforms Offered

Details about the trading platforms used by Waka Funding are currently not disclosed on their website or accessible.

Trading Instruments Provided by Waka Funding

Waka Funding offers a wide range of trading instruments to cater to different trading styles:

  • Forex
  • Commodities
  • Indices
  • Metals
  • Crypto

Payment Methods Supported

Waka Funding supports the following payment methods:

  • Bank Transfer
  • Cryptocurrency

Account Sizes Options

Waka Funding provides several account sizes to accommodate various trading preferences:

  • $25,000
  • $50,000
  • $100,000
  • $200,000

Profit Sharing Structure

Waka Funding uses a tiered profit-sharing structure that improves over time:

  • Initial profit split: 50%
  • Bi-weekly increments until reaching a maximum of 80%

Profit Target Requirements

The profit target for traders during Waka Funding’s evaluation process is set at 10%.

Drawdown Rules and Daily/Max Loss Policy at Waka Funding

Waka Funding establishes firm risk limits for its traders:

  • Maximum Daily Loss Allowed: 4%
  • Total Loss Cap: 8%

Minimum and Maximum Trading Days at Waka Funding

Waka Funding accommodates traders with its flexible trading day policy:

  • Minimum Trading Days: None
  • Maximum Trading Days: No limit

Step Challenges Available at Waka Funding Prop Firm

Waka Funding’s trading challenges are clearly defined:

  • Challenge Format: 1-step Evaluation
  • Profit Target: 10%
  • Drawdown Caps: Typically 4% daily and 8% total.

Costs of Entry for Waka Funding Prop Firm’s Challenges

Challenge entry costs are determined by account size:

  • $25,000 Account: $275
  • $50,000 Account: $375
  • $100,000 Account: $575
  • $200,000 Account: $975

Commissions and Fees at Waka Funding

At Waka Funding, traders are charged a $7 commission per lot for transactions, a competitive rate that supports operational efficiencies. When trading other instruments, traders benefit from a cost-effective approach where only the market spread is applicable and no additional commissions are charged. This transparent fee structure is part of Waka Funding’s commitment to fair and straightforward financial practices.

No Refund Policy at Waka Funding

Traders should be aware that once fees are paid at Waka Funding, they are non-refundable. This policy reinforces the seriousness of trading and ensures that traders are fully committed when they decide to invest and engage with the firm’s resources.

Trial Offers and Their Absence at Waka Funding

No free trial offers are currently available at Waka Funding, highlighting the firm’s policy to attract and cater to traders who are ready to commence their trading activities without preliminary trials, ensuring a clientele that is serious about making immediate investment decisions.

Detailed Payout Schedule at Waka Funding

Waka Funding supports its traders with a flexible yet prompt payout schedule. First withdrawals are permissible after 10 days of trading, which facilitates quick access to funds. For active traders, subsequent withdrawals are available every 5 trading days, enabling regular and planned financial management.

Waka Funding FAQ

Hedging Rules

Yes, hedging is allowed at Waka Funding. However, hedging entries across multiple accounts or between clients is a rule violation. Hedging within a single account to protect a position is fully permissible. It is prohibited to hedge two different accounts or individuals by taking opposite positions in each to circumvent the rules.

Is news trading allowed?

Yes, news trading is permitted at Waka Funding.

Leverage Information

For Waka Funding Challenge/Evaluation accounts, the leverage provided is 1:100. For real accounts, leverage is set at 1:30, aligning with institutional standards.

Commissions per Transaction

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 without additional commissions.

Details on the 33% Consistency Rule

The 33% Consistency Rule ensures no single transaction exceeds 33% of the requested profit during withdrawal. This rule is essential for maintaining sound risk management and preventing excessive risk-taking before major news events.
Implementation during Funding:
This rule is applied during the funding stage, using volume bands for risk consistency.
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 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 volume and profit consistency.
Transactions outside the acceptable range are excluded, but the account remains active, with compliant transactions processed normally.
The rule aims to balance competitiveness with sustainability and market presence.
While some traders may view this rule as restrictive, it promotes better trading habits and strategy adherence.

Starting Fees: $275 - $975
Challenge Types: 1-step
Payout: 10 days (first payout), then every 5 days after initial 30 days
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Waka Funding Review
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