TL;DR: Fundora is a Japanese evaluation prop firm for forex and CFD traders, run by Quantum Fund Traders Inc. from Toranomon, Tokyo, with a Saint Lucia subsidiary, Fundora Ltd. It launched on March 19, 2025. On October 11, 2026 it sold six two-phase plans in US dollars or Japanese yen, from $177 for a $16,666 demo account to $2,999 for $400,000 (¥26,999 to ¥449,999). Every plan has the same rules: an 8% target in Phase 1, 5% in Phase 2, a 5% daily loss limit, a 10% maximum loss, at least 3 trading days per phase and no time limit. Trading is on cTrader only, gold is swap-free, and there is a $3 one-way commission. Funded “Pro” accounts are demo accounts too, and Fundora pays 80% of their profit as an “information provision fee”. The first reward comes 28 days after your first Pro trade, then every 14 days. The first reward is capped at 10% of the starting balance and the second at 15%, and a 33.3% consistency rule applies. Fundora does not accept residents of the United States, India, Russia, Belarus or North Korea. It has no Trustpilot page and almost no Reddit discussion, so there is little independent trader evidence yet.
Research status: Checked October 11, 2026. We checked this review against Fundora’s own English and Japanese pages: the plan comparison, features, getting-started and payouts pages, the FAQ, the Trading Rules Guide, the rule articles on the 33.3% rule, 1% risk, multiple accounts and account merging, the KYC and payout guide, the Terms of Use, the About Us page and the official news archive. We searched Trustpilot and Reddit the same day. We did not buy a plan, so anything you only see after purchase is printed as Fundora publishes it and was not tested by us. Fundora’s Terms say the Japanese text controls if a translation differs.
Fundora review verdict: is Fundora legit?
Fundora is a real, operating business in the basic sense. It names its operating company, Quantum Fund Traders Inc., and gives a street address in a Tokyo office tower. It also names a Saint Lucia subsidiary with a company number. It publishes a full set of Terms of Use under Japanese law, a Trading Rules Guide, dated rule articles and a news archive with notices going back to April 2025. Those notices include outages it reported against itself. On October 11, 2026 it had a working checkout through Shopify Payments.
That is not the same as proof that it pays reliably. These are the points that decide it:
- There is very little independent trader evidence. We found no Trustpilot page for fundora-trading.com and no Reddit threads about this firm. The only payout figures are the five “top trader” amounts Fundora shows on its own site, and we could not check them independently.
- It is young. Fundora launched in March 2025, and its Saint Lucia company number begins with 2026. Its rules have changed several times since launch: the daily reset moved in May 2025, the inactivity rule in July 2025, the 33.3% rule arrived in July 2025, multiple accounts in December 2025 and prices in March 2026.
- Every account is a demo, including the funded one. Fundora says so plainly. Rewards are paid as an “information provision fee” based on your Pro account trading data, not as a withdrawal of trading profit.
- US traders cannot use it. The US is on its restricted list, and the FAQ says use is “prohibited by law” there. India, Russia, Belarus and North Korea are also restricted.
- Payouts are capped and slow at the start. The first reward cannot come before day 28 and is capped at 10% of the starting balance. The second is capped at 15%. A 33.3% consistency rule and a minimum reward size can push a payout back by 14 days at a time.
- The rules are simple and the same on every plan. 8% then 5%, a 5% daily limit, a static 10% maximum loss, no time limit and only 3 minimum days per phase. Gold has no swap charge.
Our view: Fundora looks like a transparent, Japan-focused firm with clear published rules, a strong education angle and a cTrader-only setup. On the evidence we read we found nothing that makes it a scam. But it has too little public payout history for us to call it proven. It suits traders outside the restricted countries who trade forex or gold on cTrader, can keep risk near 1% per trade and can wait four weeks for a first, capped payout.
Who runs Fundora
| Item | What Fundora publishes |
|---|---|
| Brand owner and operator | Quantum Fund Traders Inc., Head Office 23F Kamiyacho Trust Tower, 4-1-1 Toranomon, Minato-ku, Tokyo 105-0001, Japan. It runs the evaluation programs, education, support and marketing. |
| Service and platform entity | Fundora Ltd., Company No. 2026-00589, Ground Floor, La Place Creole Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. It is a wholly owned subsidiary and runs the trading platforms and the simulated environment. |
| Launch date | March 19, 2025, described by the firm as “Japan’s first evaluation-based prop firm”. |
| Regulation | None claimed. Fundora says it is not a broker, securities firm or investment adviser and does not accept deposits or margin. |
| Governing law | Laws of Japan, with the Tokyo District Court as the court of first instance. The Japanese text of the Terms controls. |
| Minimum age | 18, with full legal capacity. |
| Contact | support@fundora-trading.com, a contact form, and LINE for Japanese users. |
The Toranomon address and the two-entity split are what Fundora publishes on its About Us page. We did not check a corporate register for either company, so treat these as the firm’s own statements. When you pay, check which entity appears on the receipt and in the Terms you accept.
Which Fundora is this? Look-alike names
If you search for “Fundora”, most of the results are about something else. This review covers only the prop firm at fundora-trading.com. These are different businesses:
- Fundora (fundora.fr), a French private-equity investment platform. It is the “Fundora” listed on Trustpilot.
- Fundora Bank (fundorabk.com), a digital-banking site.
- vest-fundora.com, an Indian startup-investor matching platform, and a “Fundora Capital” Facebook page.
- FundoraPro, a separately branded prop firm that promotes itself on Reddit with $10,000 to $100,000 accounts and withdrawals “from day 5”. Those terms do not match Fundora’s, and we found nothing linking it to Quantum Fund Traders.
- Fandora Funded (fandorafunded.com), another prop firm with a similar name.
- Sebastian Fundora, the boxer, who takes up most search and Reddit results for the name.
Check the domain before you pay. Fundora’s English site is fundora-trading.com/en. It also runs an older Shopify storefront at international.fundora-trading.com that still shows out-of-date prices (see source conflicts).
How Fundora works, step by step
- Buy a plan. Pick one of six sizes in USD or JPY. Login details for the dashboard and a cTrader ID arrive by email within about 5 minutes. Each plan also gives you access to Fundora Learning at the matching level.
- Phase 1. Make 8% of the starting balance without breaking the 5% daily loss or the 10% maximum loss, over at least 3 trading days. There is no deadline.
- Phase 2. The passed account is closed and a new Phase 2 account arrives within 1 to 2 business days. Make 5% under the same limits, again over at least 3 trading days.
- Certification. Complete KYC in the dashboard (an identity document is now enough) and sign the Pro Trader Agreement and Pledge. Pro account details arrive within 1 to 2 business days. You also get a certificate of completion.
- Pro account. Trade the Pro account, which is still a demo, under the same 5% and 10% limits plus the 33.3% rule.
- Reward. From about day 28, and then every 14 days, the dashboard processes your reward if all conditions are met. You register a bank account through an emailed form. Payment usually follows 2 to 3 business days after the risk team’s review.
Fundora advertises certification “in as little as 5 days” when every criterion is met at the minimum pace. In practice, add the 1 to 2 business day handovers between stages and the time KYC takes. Fundora says certification timing is not guaranteed.
Pros and cons
| Pros | Cons |
|---|---|
| Same simple rules on every plan: 8% / 5%, 5% daily, 10% static maximum loss. | No Trustpilot page and almost no independent payout reports yet. |
| No time limit and only 3 minimum trading days per phase. | US, India, Russia, Belarus and North Korea are restricted. |
| Static maximum loss based on the starting balance, not a trailing one. | First reward capped at 10% of the starting balance, the second at 15%. |
| News trading, weekend holding, averaging down and same-account hedging are allowed. | Trades closed within 20 seconds and losses above 1% per trade can draw warnings and then disqualification. |
| Swap-free gold (XAUUSD). | cTrader is the only platform. There is no MT4, MT5 or TradingView. |
| Accounts in JPY or USD, and bank transfer for JPY buyers in Japan. | Fees are non-refundable after purchase, and there are no free trials. |
| A detailed education platform comes with every plan. | Accounts are cancelled after 30 days with no new position, without a refund. |
| Corporate contracts are available after certification. | The $3 one-way commission adds up for short-term traders. |
Fundora pricing in USD and JPY
These are the standard prices on Fundora’s plan comparison page on October 11, 2026. The price is a one-time fee for each attempt. There is no monthly fee, and Fundora does not publish a reset or retry price. If you fail, you buy the plan again.
| Plan | USD demo balance | USD price | JPY demo balance | JPY price | Price per $1,000 of demo balance |
|---|---|---|---|---|---|
| Entry | $16,666 | $177 | ¥2,500,000 | ¥26,999 | $10.62 |
| Lite | $33,333 | $244 | ¥5,000,000 | ¥36,999 | $7.32 |
| Growth | $66,666 | $444 | ¥10,000,000 | ¥66,999 | $6.66 |
| Standard (shown as most popular) | $133,333 | $666 | ¥20,000,000 | ¥99,999 | $5.00 |
| Professional | $266,666 | $1,666 | ¥40,000,000 | ¥249,999 | $6.25 |
| Master | $400,000 | $2,999 | ¥60,000,000 | ¥449,999 | $7.50 |
The odd dollar sizes exist because the plans are designed in yen. $16,666 is ¥2.5 million at 150 yen to the dollar, and $400,000 is ¥60 million. On cost per $1,000 of demo balance, Standard is the cheapest plan. Entry costs more than twice as much per $1,000, and Master costs 50% more than Standard.
What you really pay. The plan fee is not the whole cost. Every plan lists a “$3 (one-way)” commission, which the features page calls “the one-way commission charged per trade”. The page does not say whether that is per lot. If it works as at most cTrader firms, a one-lot round trip costs $6. For example, 50 round trips of one lot during Phase 1 on Entry would cost $300, which is 22.5% of Entry’s $1,333 Phase 1 target. Check the commission on your first trade in cTrader before you size a scalping strategy around it. Fees are paid by credit card through Shopify Payments, and the features page also mentions digital wallets. Since May 22, 2026, customers in Japan can pay JPY plans by bank transfer.
How much does a $100,000 Fundora account cost? Fundora does not sell an exact $100,000 size. The nearest are Growth ($66,666 for $444) and Standard ($133,333 for $666).
Fundora discounts and coupon history
On October 11, 2026 neither Fundora’s homepage nor its news page showed a current campaign or coupon code. These are the dated campaigns Fundora itself announced in its news archive. All of them have ended.
| Campaign | Code | Discount and scope | Period (Japan time) |
|---|---|---|---|
| 1st Anniversary | FND23 | 23% off all plans, up to 3 uses per person | March 13 to March 31, 2026 |
| Bank transfer launch | FMP20 | 20% off Master and Professional only, maximum ¥89,999 off per purchase | May 25 to June 1, 2026 |
| Forex Tester Online partnership | Sent by email to registrants | 25% off Fundora plans for people who registered, plus 50% off Forex Tester Online | Coupons valid June 24 to June 30, 2026 |
| First Challenge Support | FND25 | 25% off all plans, open to new and existing traders | August 25 to September 1, 2026 |
The documented pattern is a one-to-three-week campaign every two to three months, usually 20% to 25% off, often tied to an event such as an anniversary, a new payment method or a partnership. We do not predict future sale dates. As a worked example, 25% off the $666 Standard plan would have cost $499.50, and 20% off the $2,999 Master plan $2,399.20. Coupon sites may list other Fundora codes, but we could not confirm them with the firm. Under Fundora’s Terms, a coupon is personal and cannot be transferred, and if the purchase is refunded, cancelled or charged back the discount may lapse. Enter the code and press Apply on the plan page before paying.
Phase 1 and Phase 2 rules in dollars
All six plans use the same percentages, so the only difference is size. This table turns the percentages into dollar amounts for each USD plan. Phase 2 starts on a new account at the same starting balance.
| Plan | Phase 1 target (8%) | Phase 2 target (5%) | Daily loss at the start of a day (5%) | Maximum loss (10%) | Balance floor |
|---|---|---|---|---|---|
| Entry $16,666 | $1,333 | $833 | $833 | $1,667 | $14,999 |
| Lite $33,333 | $2,667 | $1,667 | $1,667 | $3,333 | $30,000 |
| Growth $66,666 | $5,333 | $3,333 | $3,333 | $6,667 | $59,999 |
| Standard $133,333 | $10,667 | $6,667 | $6,667 | $13,333 | $120,000 |
| Professional $266,666 | $21,333 | $13,333 | $13,333 | $26,667 | $239,999 |
| Master $400,000 | $32,000 | $20,000 | $20,000 | $40,000 | $360,000 |
You need at least 3 trading days in each phase even if you hit the target on day one. Neither phase has a time limit, but the account must stay active, because 30 days without a new position ends it. Fundora runs its pass and fail checks once a day at the reset time below.
How the 5% daily loss and 10% maximum loss work
Daily loss (5%). Fundora takes 5% of your effective margin balance, meaning equity including open profit and loss, at the daily reset. The reset is 6:00 a.m. Japan time during summer time and 7:00 a.m. during winter time. Both equal 5:00 p.m. New York time all year, which is the usual forex rollover. Because the limit is recalculated from that day’s starting equity, it moves with your account. Fundora’s own example: on a ¥10,000,000 Growth JPY account with equity of ¥11,000,000 at the reset, the day’s loss limit is ¥550,000.
Maximum loss (10%). This is a static floor at 10% of the initial balance. It does not trail upward as you make money. On Standard ($133,333) the floor stays at $120,000 however high the account goes. The Terms say losses can be measured on equity including unrealized losses, so an open trade can breach the limit before you close it.
Worked example (Standard, $133,333). You end Monday at $138,000 equity, so Tuesday’s daily limit is 5% of $138,000, which is $6,900. Tuesday’s equity must stay above $131,100 until the next reset. The overall floor is still $120,000. On a losing streak the daily limit shrinks: at $124,000 equity the day’s limit is $6,200, but the floor is only $4,000 away, so the maximum loss is now the tighter limit. You can model both with the BestProps daily loss limit calculator and drawdown calculator.
The daily reset time changed once already, from midnight Japan time to the current morning time on May 25, 2025. Fundora posts changes like that in its news archive, so read the rules guide again before each purchase.
Scalping, 1% risk, news, EAs, weekends and leverage
| Rule | What Fundora publishes |
|---|---|
| Scalping under 20 seconds | Closing a trade within 20 seconds of entry is prohibited. A single accidental case does not disqualify you, but warnings come first and repeated cases can end the account. |
| 1% risk standard | A loss above 1% of available margin on one trade, even temporarily, can draw a warning. So can repeated oversized entries, trading without a stop loss, or stacking correlated positions. No improvement after warnings can mean disqualification with no refund. |
| News trading | Allowed, but not recommended. Fundora does not guarantee against slippage. |
| Weekend holding | Allowed for every symbol. Only crypto can be traded at weekends. |
| Averaging down and martingale | Allowed as strategies, but not recommended. In practice the 1% standard limits them. |
| Hedging | Allowed within one account. Hedging across accounts or with other people is prohibited. |
| EAs and bots | Allowed only if you built them yourself, including semi-discretionary EAs. Fundora may ask for the code. |
| Copy trading | Copying someone else’s trades, manually or automatically, is prohibited. Fundora may ask for statements from your other accounts to prove trades are your own. |
| Other prohibited trading | Latency or reverse arbitrage, tick scalping, high-frequency trading, exploiting price or feed errors, using a VPN or proxy to get around geographic limits, and trading “that would not reasonably function under actual market conditions”. |
| Leverage | FX 50:1, commodities 10:1, indices 5:1, crypto 2:1. |
| Inactivity | An account not activated within 30 days, or with no new position for 30 days, is disqualified without a refund (since July 1, 2025). |
| Consistency | The 33.3% rule applies to Pro accounts only, not to Phase 1 or Phase 2. |
What the 1% standard means in practice. On Standard ($133,333) 1% is $1,333. With a 20-pip stop on EURUSD, where one standard lot is worth about $10 a pip, that is about 6.6 lots at most. On Entry ($16,666) the same stop allows about 0.8 lots. The 1% standard is applied through warnings rather than as an automatic breach, but it is the rule most likely to catch martingale and grid strategies, even though those are “allowed”.
Multiple accounts, the ¥60 million cap and merging
Since December 10, 2025 you can hold more than one account. The total starting balance across all your accounts is capped at ¥60,000,000. USD plans count at the yen size of the same plan, without any exchange-rate conversion, so a USD Standard counts as ¥20,000,000 and a USD Master as the whole ¥60,000,000. Examples Fundora gives as allowed: three Standards, one Standard plus one Professional, or one Master.
Across accounts Fundora prohibits hedging, shifting losses into one account and profits into another, extreme same-direction exposure that gets around each account’s limits, and “mirroring”. Mirroring includes entering the same instrument in the same direction on several accounts within about 5 minutes, or keeping a constant lot-size ratio between accounts. If you run several accounts with one strategy, that is the rule to read twice.
Pro accounts in the same name and currency can be merged into one, at the tiers JPY 5, 10, 20, 40 or 60 million, or USD 33,333, 66,666, 133,333, 266,666 or 400,000. Only accounts with no open positions that either meet all payout conditions or are still at their starting balance qualify. A merged account starts over for the payout date, minimum days, the 33.3% rule and the payout count. You apply by emailing support with the account numbers.
Fundora payouts (rewards)
| Item | What Fundora publishes |
|---|---|
| Reward rate | 80% of Pro account profit, paid as an “information provision fee”. |
| First reward | 28 days after your first Pro account trade, counting that day. |
| Later rewards | Every 14 days. |
| Caps | First reward up to 10% of the starting balance, after the 80% split. Second reward up to 15%. At the top “Maximize” level, rewards are uncapped on the same 14-day cycle. |
| Conditions | Minimum trading days, the 33.3% rule, risk consistency and any other rule in the Terms. If any is unmet on the date, the reward is postponed 14 days, and this repeats. |
| Minimum | If your 80% share is under ¥10,000, the application is postponed 14 days. No USD minimum is published. |
| Open trades | Any open positions are force-closed at the scheduled payout time. |
| Method | After the request, an email links to a “Reward Application Form” where you register a bank account in your own name, or an approved company account. Fundora says available methods vary by country and account status. |
| Processing | Usually 2 to 3 business days after the risk team’s review, excluding weekends and holidays. |
| Fees and currency | Who pays remittance charges is “separately determined”. Currency conversion uses the rate on the processing date. |
The caps in dollars: on Standard ($133,333) the first reward is capped at $13,333 and the second at $20,000. On Master ($400,000) they are $40,000 and $60,000. On Entry ($16,666) they are $1,667 and $2,500. Fundora does not say on the pages we read what happens to profit above a cap: whether it stays in the account for the next cycle or is removed. Ask support in writing before you build a plan around a large first month. The rules guide does not say how you move from the Pro level to the uncapped Maximize level either.
Payout proof: Fundora’s payouts page lists its top five Pro traders by reward to date. They are H.M (Master) $64,786, T.K (Master) $39,941, Y.S (Master) $38,710, T.H (Master) $38,710 and M.K (Professional) $25,806. The dashboard also shows a payout record. These are Fundora’s own figures, and we found no independent posts confirming them. Use the BestProps payout readiness checklist to track your own dates and conditions.
The 33.3% consistency rule, worked through
The rule started on July 16, 2025 and applies to Pro accounts only. The Trading Rules Guide states it as:
Largest single-day profit ÷ total profit ≤ 33.33%
Days run from reset to reset (6:00 or 7:00 a.m. Japan time). Fundora’s separate rule article explains the score with a different formula (today’s profit divided by the largest daily profit) and examples that do not match the guide. We explain the conflict below. Because of it, treat the score on your dashboard as the deciding number and the guide’s formula as the planning rule.
What it means for a payout: your best day cannot be more than a third of your total profit. Total profit is counted from the start of the Pro account, and the largest day from the last payout or account issue. A single big day therefore needs at least two more days of the same size behind it.
| Scenario (Standard $133,333) | Best day | Total profit | Ratio | Result |
|---|---|---|---|---|
| Steady month | $2,700 | $9,000 | 30.0% | Passes. Reward 80% = $7,200, under the $13,333 cap. |
| One big news day | $3,600 | $9,000 | 40.0% | Fails. The application date moves 14 days later. |
| Same big day, fixed | $3,600 | $10,801 or more | 33.3% | Passes once total profit reaches 3 × $3,600 = $10,801, with no bigger day. |
The quick rule: you need total profit of at least three times your best day. Try your own numbers in the BestProps consistency rule calculator, and read our consistency rule guide for how other firms set theirs.
A first payout, worked through
Take a Standard USD Pro account ($133,333). Suppose your first Pro trade is on Monday, November 2, 2026.
- Earliest first date: counting November 2 as day 1, day 28 is Sunday, November 29, 2026. The “Next Withdrawal” date on your dashboard is the one that counts.
- By then: say total profit is $12,000 and your best day was $3,500. 3,500 ÷ 12,000 = 29.2%, so the 33.3% rule passes. You have no rule warnings, and your KYC and agreement are complete.
- Reward: 80% of $12,000 is $9,600. That is under the first-reward cap of $13,333, so the full $9,600 is payable.
- On the date: close your trades yourself, because open positions are force-closed at the payout time. Fill in the Reward Application Form with your bank account.
- Payment: about 2 to 3 business days after the risk review. Allow for bank and currency charges, which Fundora says are “separately determined”.
- Next date: about 14 days later, around December 13, 2026. The second reward is capped at 15%, which is $20,000.
If your best day had been $4,500 instead, 4,500 ÷ 12,000 = 37.5% and the request would be postponed 14 days to around December 13. With $20,000 of profit, the first reward would be 80% = $16,000, but the 10% cap limits it to $13,333.
Demo accounts and “information provision fees”
Fundora is unusually direct about this. Every account, including the Pro account you get after passing, is a demo account with virtual funds. The firm says it does not take your money as margin or trade it in the market. Its blog explains that rewards are “not a mechanism for withdrawing demo-account profits”. Instead they are an information fee calculated from your trading data at an 80% rate.
For a trader the cash result looks the same as a profit split at other firms: you trade well and you get 80%. Two things follow from the wording, though. The Terms say rewards are not investment returns, and that passing does not create an “unconditional right” to a Pro account or a reward. And the money you pay is a fee for the evaluation and education service, not a deposit. How a fee like this is taxed depends on where you live, so check with a tax adviser.
Fundora platforms
- cTrader is the only trading platform for both the evaluation and the Pro account, through the web, desktop and mobile apps, with one cTrader ID. We found no mention of MT4, MT5, MatchTrader or TradingView on Fundora’s pages. Fundora’s news archive shows regular weekend cTrader maintenance, mostly Saturday 14:00 to Sunday 04:00 Japan time. On September 7, 2026 some symbols could not be traded because of a holiday-profile error, and Fundora said it would contact affected traders about compensation.
- Dashboard (Client Zone): account status, results, KYC, the 33.3% score, reward dates and payout requests.
- Fundora Learning: a six-volume course, from expected value and risk management through technical analysis and SMC/ICT to financial engineering. It is included with your plan at the matching level, with tests and certificates.
- Forex Tester Online “Fundora Challenge Mode”: a backtesting practice mode, from the partnership announced June 24, 2026, that copies the Phase 1 and Phase 2 rules. It is for practice only. It is not the paid evaluation.
Markets are forex, gold and other commodities, indices (for example HK50, which Fundora’s holiday notices mention) and crypto. Fundora does not publish a full symbol list on the pages we read, so check symbols, spreads and contract sizes in cTrader after you log in. If you want a choice of platforms, see our guide to prop firms that use cTrader and our platform comparison.
Fundora restricted countries
Fundora’s About Us page says it “currently restricts registration and use of its Services by nationals or residents associated with the United States, India, Russia, Belarus, and North Korea.” Its FAQ adds that overseas residents can use the service, but says that “in the United States, the use of our service is prohibited by law”. It also says Fundora takes no responsibility if the service is prohibited where you live.
The Terms list using a VPN or proxy to get ar