FundedCobra Review: Plans, Rules, and How It Compares
FundedCobra
FundedCobra is a CFD prop firm selling simulated funded trading accounts across three account paths: Instant funding, a 1-Step Evaluation, and a 2-Step Evaluation. Trading runs on the firm's own web-based platform, Cobra Terminal, at 1:100 leverage, across forex, commodities, indices and cryptocurrencies. Entry starts at a $14 one-time fee for a $500 Instant account and runs to $799.20 for a $100,000 Premium Instant account. The firm does not publish a founding date, and it does not publish a legal entity, registered address or jurisdiction anywhere on its website. Its TrustPilot profile is unclaimed and carries a 3.7 rating from 40 reviews. PropFirmMap scores FundedCobra 5.8 out of 10 with a safety grade of C. This review covers the plans, the rules that can breach an account, and how the firm compares to higher-scoring CFD firms at a similar entry price.
FundedCobra plans and pricing
FundedCobra sells four product families. Cobra Venom and Premium Instant are both Instant funding paths with a 5% withdrawal target, a 4% static daily loss limit, a 6% static maximum loss, no minimum trading days and an 80% profit split. They differ on account sizes and payout cadence: Cobra Venom covers $500 to $9,000 with daily payout requests, Premium Instant covers $10,000 to $100,000 with weekly requests. The 1-Step Evaluation carries a 10% profit target on the same 4% daily and 6% maximum loss limits, with a 3-day minimum and weekly payouts. The 2-Step Evaluation runs a 10% phase 1 and a 5% phase 2 target on looser limits of 8% daily and 12% maximum loss, with bi-weekly payouts. Both evaluation paths advertise a profit split of up to 90%.
| Account path | Account size | One-time fee | Target | Daily loss | Max loss | Payouts |
|---|---|---|---|---|---|---|
| Cobra Venom Instant | $500 | $14 | 5% | 4% | 6% | Daily |
| Cobra Venom Instant | $1,250 | $28 | 5% | 4% | 6% | Daily |
| Cobra Venom Instant | $3,500 | $63 | 5% | 4% | 6% | Daily |
| Cobra Venom Instant | $5,000 | $83 | 5% | 4% | 6% | Daily |
| Cobra Venom Instant | $9,000 | $141 | 5% | 4% | 6% | Daily |
| Premium Instant | $10,000 | $183.20 | 5% | 4% | 6% | Weekly |
| Premium Instant | $25,000 | $479.20 | 5% | 4% | 6% | Weekly |
| Premium Instant | $50,000 | $639.20 | 5% | 4% | 6% | Weekly |
| Premium Instant | $100,000 | $799.20 | 5% | 4% | 6% | Weekly |
| 1-Step Evaluation | $5,000 | $38 | 10% | 4% | 6% | Weekly |
| 1-Step Evaluation | $10,000 | $59 | 10% | 4% | 6% | Weekly |
| 1-Step Evaluation | $25,000 | $123 | 10% | 4% | 6% | Weekly |
| 1-Step Evaluation | $50,000 | $209 | 10% | 4% | 6% | Weekly |
| 1-Step Evaluation | $100,000 | $330 | 10% | 4% | 6% | Weekly |
| 1-Step Evaluation | $200,000 | $593 | 10% | 4% | 6% | Weekly |
| 2-Step Evaluation | $5,000 | $32 | 10% / 5% | 8% | 12% | Bi-weekly |
| 2-Step Evaluation | $25,000 | $116 | 10% / 5% | 8% | 12% | Bi-weekly |
| 2-Step Evaluation | $50,000 | $176 | 10% / 5% | 8% | 12% | Bi-weekly |
| 2-Step Evaluation | $100,000 | $293 | 10% / 5% | 8% | 12% | Bi-weekly |
| 2-Step Evaluation | $200,000 | $535 | 10% / 5% | 8% | 12% | Bi-weekly |
Prices above are the figures shown on the firm's own accounts page, verified on 27 August 2026. Each is a discounted price displayed against a higher struck-through figure, and the firm's page applies a public code automatically at checkout. One plan is missing from this table on purpose: the 2-Step $10,000 account displays $59 struck through above $63, an inverted pair in which the sale price sits above the regular price. Because no payable figure can be read from that pair with confidence, PropFirmMap leaves the plan out rather than publish a number it cannot source. The fee on evaluation accounts is refunded at the third payout, not the first.
Rules that can breach an account
Drawdown is static and equity-based on every path, measured from the starting balance, so the loss limit does not trail behind profits. The daily loss floor is fixed once at 00:00 UTC from equity at that moment and does not move during the trading day. There is no consistency rule on any account path, in the evaluation stage or the funded stage. News trading, weekend holding, martingale and grid strategies are all permitted, and a stop loss is not required.
The restrictions sit elsewhere. Expert Advisors and automated trading are prohibited, so orders must be placed manually. High-frequency trading is prohibited. A rulebook that took effect for accounts opened on or after 20 August 2026 adds two further constraints: hedging the same instrument is prohibited, and the combined open unrealised loss across all positions may not reach 1.5% of the account starting balance, assessed live on equity. Positions have a 60-second minimum duration, where a manual close under 60 seconds breaches immediately, while a take-profit or stop-loss closing under 60 seconds is warned four times before the fifth breaches. A single trade counts toward at most 60% of the applicable target, and profit above that cap is removed when the trade closes. Trading hours are 24/5, spreads are variable with no guaranteed maximum, and commission is $3.00 per lot round-turn.
The no-hedging and 1.5% floating-loss rules apply only to accounts opened on or after 20 August 2026. Accounts bought earlier keep the rulebook in force when they were opened, which means two FundedCobra traders can be held to different rules at the same time. Check which rulebook your account number falls under before trading.
Pros and cons
Pros
- No consistency rule on any account path, in either the evaluation or funded stage, and drawdown is static rather than trailing.
- Entry from a $14 one-time fee, with daily payout requests on Cobra Venom accounts and no minimum trading days on either Instant path.
- News trading, weekend holding, martingale and partial closes are explicitly permitted, and every breaching rule is published on a single rules page.
Cons
- The firm publishes no legal entity, registered address or jurisdiction on its website. PropFirmMap checked the about, terms, privacy, compliance and disclosure pages and found none, so the firm is recorded with an unknown country.
- Expert Advisors and automated trading are prohibited, and accounts opened from 20 August 2026 also cannot hedge or hold open trades losing more than 1.5% of the account at once.
- The TrustPilot profile is unclaimed, rated 3.7 from 40 reviews, and carries payout-denial and support-response complaints alongside its positive reviews. A single trade also counts toward at most 60% of the withdrawal target, so profit above that cap is removed.
How FundedCobra compares
Measured against the three highest-scoring CFD firms on PropFirmMap with an entry price under $30, FundedCobra is priced in the same band but scores well below them on safety. Funding Pips scores 8.9 with an A+ grade, entry at $29 and a TrustPilot rating of 4.5 from 62,592 reviews. The5ers scores 8.7 with an A+ grade, entry at $22, up to a 100% split and 4.7 from 35,844 reviews. FundedNext scores 8.5 with an A+ grade, entry at $24.74, up to a 95% split and 4.5 from 76,802 reviews. FundedCobra scores 5.8 with a C grade, entry at $14 and 3.7 from 40 reviews.
| Firm | PropFirmMap score | Grade | Lowest fee | Max split | TrustPilot |
|---|---|---|---|---|---|
| FundedCobra | 5.8 | C | $14 | 90% | 3.7 (40) |
| Funding Pips | 8.9 | A+ | $29 | 100% | 4.5 (62,592) |
| The5ers | 8.7 | A+ | $22 | 100% | 4.7 (35,844) |
| FundedNext | 8.5 | A+ | $24.74 | 95% | 4.5 (76,802) |
The gap is mostly review volume and disclosure rather than headline terms. All four firms sell sub-$30 entry accounts, and FundedCobra's static drawdown and absent consistency rule are looser than several of the comparison firms, which run tiered daily limits between 3% and 5%. What separates them is that Funding Pips, The5ers and FundedNext each carry tens of thousands of TrustPilot reviews and published corporate details, while FundedCobra has 40 reviews on an unclaimed profile and no published entity. On payout cadence FundedCobra's daily Cobra Venom requests are faster than Funding Pips' weekly and The5ers' biweekly schedules, though FundedNext advertises a 24-hour guarantee.
Verdict
FundedCobra is a low-cost CFD prop firm whose rule set favours discretionary manual traders: static drawdown measured from the starting balance, no consistency rule anywhere, permitted news trading, weekend holding and martingale, and daily payout requests on the cheapest Instant tier. It suits traders who want a small simulated account with few strategy restrictions and who place orders by hand, since Expert Advisors are prohibited outright. It is a poorer fit for algorithmic traders, for anyone who hedges, and for traders who require a firm to publish its legal entity and jurisdiction before paying, because FundedCobra publishes none. The 5.8 score and C grade reflect that disclosure gap and a 40-review TrustPilot history rather than the account terms, which are competitive for the price. Traders comparing at this entry price should weigh the looser rules against a much shorter and thinner public track record.
Sources verified 27 August 2026: fundedcobra.com/accounts (plans and pricing), fundedcobra.com/rules (trading rules and drawdown), fundedcobra.com/payout-rules (profit split and payout cadence), fundedcobra.com/terms (rulebook versioning), TrustPilot (rating and review count). Comparison figures are PropFirmMap database values for each firm.
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