AscendX Review: The Easiest Forex Funding Challenge

Recently, I decided to do a little Google search to see if I could find a prop firm with one of the easiest possible profit targets, while still maintaining a gratuitous drawdown allowance. 

I also wanted to make sure that the firm offered minimal rules on both challenge accounts and funded accounts.

And I think I just found one of the best possible prop firms to meet this criteria.

Here is AscendX. 

The prop firm is operated under the directorship of Scott Flook, a former investment banker, who has significant professional experience with markets. The firm is relatively new, as it was filed for incorporation in October of 2023. Scott Flook

In this article, I’ll cover AscendX’s challenge rules, funded account features, and other important facts about this prop firm that can help you decide if you want to pursue a challenge with them.

As always, be sure to review the prop firm’s homepage, FAQ section, and reach out to customer support before starting any prop firm challenge.

<<Receive 10% Off of Your AscendX challenge with coupon code “DFX”>>

One of the things I appreciate most about AscendX is that they have a very detailed and lengthy FAQ section, providing many details about their program, while other prop firms may hide such information behind terms, conditions, and contractual documents.

AscendX $100k Funding Evaluation Features

I’ll be using their $100k account funding evaluation option to help exemplify their evaluation rules. There are also options to pursue a $10k, $25k, $50k, and $200k account. Traders can hold up to $400k worth of funds.

ascendx prop trading challenge

  • 7% Profit Target For Phase 1

Offering one of the lowest profit targets in the industry, with only a 7% profit target for the first part of the challenge. The second phase is the standard 5% often seen with other verification round.

  • 10% Drawdown Allowance, 5% Daily Drawdown

Matches industry standard drawdown. No trailing drawdown. With a drawdown that’s bigger than the profit target, there’s ample room for managing risk along the way.

  • No Time Limit

There is no rush to hit the profit target in a short amount of time. Traders can scalp, day trade, or swing trade and risk their capital appropriately in order to meet the profit target.

  • Minimum 3 Trading Days

For traders who do scalp or can return high reward for their risk, AscendX has a low minimum day requirement – which means a trader could become funded in a little over a week.

  • News Trading, Weekend Holding, & EA’s Allowed

No need to worry about closing trades due to rules and not market conditions. There’s also freedom to utilize EA bots.

  • 2 Minute Rule

It’s important to note that this firm does require all trades to be held longer than 2 minutes. If a trader breaches this rule, they won’t lose their challenge, but they will need to restart their challenge.

  • $5/round Lot Commission

Reasonable commission and beats most Forex brokers.

Managing a Qualified Trader Account (aka Funded Account) with AscendX

Sometimes prop firms will give a lot of freedom to trading rules during challenge rounds but then add (often unadvertised) conditions to the funded account, such as with requiring stop losses or requiring a minimum number of trades taken per week. 

AscendX is clear about its Funded Account rules – there isn’t much difference from the challenge phases, but there is a max lot size allowed at a time. However, this amount is reasonable and prevents overtrading or overrisking on a single trade.

For example, for a $100k account, there is a maximum allowance of 40 lots. It is unclear from the FAQ alone, however, as to whether this is a total of 40 lots per pair or for all trades total.

Conclusion

Overall, AscendX offers a competitive trading option for Forex traders who wish to manage six-figures in funds but do not want to strive for a large profit target. I believe this firm shows a standard of professionalism and is offering one of the easiest possible challenge requirements in the industry. 

<<Receive 10% Off of Your AscendX challenge with coupon code “DFX”>>