RaiseMyFunds is a South African prop firm offering a range of attractive features such as a 1;100 leverage, access to MetaTrader 5, and news trading.
Traders benefit from no commissions per round lot, and the evaluation process provides unlimited trading time to reach profit targets.
Company Specifics Overview
RaiseMyFunds is an new player in the prop trading industry, founded in 2024 and based in South Africa. What sets this firm apart is its regulation by the Financial Sector Conduct Authority (FSCA) under the license number 50506, providing traders with a sense of security and trust. Company Main Specifics:
- Office located at Portside Building, 4 Bree street, 8000 Cape Town, South Africa
- Rewarded for the best trading conditions by International Business Magazine and best customer services by World Business Outlook in 2023
RaiseMyFunds Features and Specifics
Let's take an overall look at the key features offered by the prop firm with its services:
Account Currency | USD, EUR |
Minimum Price | 135 EUR |
Maximum Leverage | 1:100 |
Maximum Profit Split | 90% |
Instruments | Forex, Commodities, Stocks, Indices, Cryptocurrencies |
Assets | +500 |
Evaluation Steps | 2 |
Withdrawal Methods | Crypto, Bank Transfer |
Maximum Fund Size | Scalable up to $1M |
First Profit Target | 10% |
Max. Daily Loss | 5% |
Challenge Time Limit | Unlimited |
News Trading | Allowed |
Maximum Total Drawdown | 10% |
Trading Platforms | MetaTrader 5 |
Commission Per Round Lot | None |
Trustpilot Score | 4.1/5 |
Payout Frequency | Bi-weekly |
Established Country | South Africa |
Established Year | 2024 |
Strengths and Weaknesses
To give you a balanced view and a fair perspective, let's examine the pros and cons of trading with RaiseMyFunds:
Strengths | Weaknesses |
FSCA Regulation Provides Security | Relatively New Firm (Founded In 2024) |
A High Maximum Profit Split of Up to 90% | Relatively High Minimum Initial Price |
An Extensive Range of +500 Trading Assets | Strict Evaluation Rules |
Scaling Opportunities Up To $1 Million | - |
Funding Levels and initial fees for Plans
RaiseMyFunds offers a range of account sizes with different prices to suit various budgets. In the table below, we will review these options with corresponding fees:
Funding | Price |
$10,000 | €135 |
$25,000 | €225 |
$50,000 | €315 |
$100,000 | €499 |
$200,000 | €990 |
The minimum price ($10,000 account) is relatively high compared to the average in the industry.
Evaluation Programs: Phases and Rules
RaiseMyFunds takes a simple and straightforward approach in evaluation programs. It employs only 1 model which is a 2-step evaluation to assess traders' skills and discipline. In the table below, we will explore the evaluation rules:
Leverage | 1:100 |
Trading Period | No Limits |
Min. Trading Days | N/A |
Max. Daily Loss | 5% |
Max. Total Drawdown | 10% |
Profit Target (1st Step – 2nd Step) | 10%-5% |
Profit Split | 70% (Up to 90%) |
In the screenshot below, the rules for every account size with the corresponding price is shown:
The lack of various programs might be a drawback for some traders. Also, the rules are not easy at all, especially for those with less experience. However, trustworthy firms typically set more difficult evaluation rules.
Available Bonuses and Promotions Review
We investigated the website and official sources for bonuses, and as of the latest information available, RaiseMyFunds does not offer any specific promotions. However, there might be discount codes on some third-party websites, and you should check them out for yourself.
Tradable Instruments
RaiseMyFunds provides funding through trading a vast range of symbols and assets, catering to various trading preferences:
- Forex
- Indices
- Commodities
- Stocks
- Cryptocurrencies
Overall, over 500 assets are available for traders. Unfortunately, no further information about the exact trading pairs are provided on the official website.
Methods to Pay and Get Paid on RaiseMyFunds
The prop firm offers typical payment options similar to most competitors in the industry. These methods include:
- Cryptocurrency: Fast and secure transactions
- Credit/Debit Cards: Convenient for most traders
- Wire Transfer: Traditional bank transfer option
- E-payment Systems: Google Pay, Apple Pay, etc.
RaiseMyFunds Prop Firm Trading Commissions
The mentioned firm attempts to provide a transparent fee structure. The company states that there "no additional or hidden fees" other than the initial price for challenges. Also, it claims to provide trading with the lowest spreads, but does not reveal any exact amount.
Trust Scores and Traders' Reviews of RaiseMyFunds
These scores and ratings are usually submitted on platforms such as Trustpilot and REVIEWS.io. RaiseMyFunds has received generally positive reviews on the former, with an overall rating of 4.1/5. In this section, we will briefly investigate these scores:
- Based on 300+ ratings
- More than 60% of reviews are 5-star;
- About 25% of scores are 1-star;
- The company replied to 85%+ of negative reviews;
- The firm asks for reviews regardless of them being negative or positive.
Customer Services: Contact Channels and Working Schedule
Support is one of the most essential factors when choosing a financial firm. RaiseMyFunds offers 3 channels for customer services:
- Ticket System: Accessible on the website
- Email: Via support@raisemyfunds.co
- Phone Call: +44 330 818 2329
Per our investigations on the website, there's no information available regarding the support team's working hours. This lack of data is a drawback for the firm's website.
RaiseMyFunds' Presence on Social Media
The company maintains social accounts on major platforms for posting updates and information about the firm:
- Discord: https://discord.com/invite/5P8ke7mTYu
- Instagram: https://www.instagram.com/raisemyfunds/
- LinkedIn: https://www.linkedin.com/company/raisemyfunds/
- Kick: https://kick.com/raisemyfundsfr
- Tiktok: https://www.tiktok.com/@raisemyfunds
- YouTube: https://www.youtube.com/@RaiseMyFunds
Also, sometimes you will be able to find discount codes on Instagram and other mentioned pages of the firm. Therefore, it could be beneficial to occasionally check them out.
Expert Suggestions
In conclusion, RaiseMyFunds is an FSCA-regulated prop firm that offers competitive features, such as a scaling program up to $1,000,000 and a profit split of up to 90%.
However, the firm’s high initial fees, starting at €135 for a $10,000 account, and strict evaluation rules (including a 10% profit target in the first step) could be a barrier for some traders.
