"Unlocking Success: The Art of Proprietary Trading Strategies"
"Unlock Global Opportunities with The Prop Trading: Trade Forex, Crypto, and Indices on MT5 with up to $200,000 Capital and Profit Share up to 80%!"
The Prop Trading, an Australian proprietary trading firm, extends a capital offering of up to $200,000 to global forex traders. Operating on the MT5 platform, they provide trading accounts with access to Crypto and Indices, accompanied by a profit share of up to 80%. Noteworthy incentives include refundable fees for successful challenge stage completion, retries for close attempts, and a 1:200 leverage, enhancing the likelihood of securing funding. Every quarter, achieving a minimum 6% growth, coupled with a monthly minimum gain of 2%, results in an additional 25% funding boost as a reward for consistent trading performance. While these features make obtaining funding from The Prop Trading appealing, a comprehensive evaluation is advisable before reaching any decisions.
The Prop Trading offers the evolution program account
Proprietary Trading offers three fundamental evaluation accounts, all featuring an 80% profit-sharing model, and there is no minimum requirement for trading days to attain these accounts. Notably, this firm stands out due to its unique feature allowing unlimited separate accounts, each capable of accumulating additional capital, notwithstanding the $500k cap on combined capital in a single account.
However, a notable drawback of their account offerings lies in the lot size restrictions imposed during the initial three months of acquiring a funded account. These restrictions are specified as follows:
The program is structured in three distinct steps.
The Proprietary Trading platform bears notable resemblance to other prominent firms within the industry. I have curated a compilation of top firms for your reference, facilitating a comparative analysis. A distinctive attribute lies in The Proprietary Trading’s provision of a diverse array of indices and cryptocurrencies for trading, a feature not commonly offered by most counterparts. Predominantly, renowned firms extend a selection of forex pairs, encompassing majors and crosses, along with a limited selection of metals. Consequently, The Proprietary Trading emerges as a potentially superior choice for traders inclined towards more volatile instruments such as Indices and Cryptocurrencies.
Furthermore, another distinguishing feature is their offer of a complimentary trial period, allowing users to evaluate trading conditions and refine skills prior to committing to a paid subscription. Notably, this mirrors a recent initiative introduced by FTMO, and I express a positive sentiment towards this concept. Such an initiative serves as an advantageous avenue for beginners or emerging traders to adopt a professional trading mindset, while gaining familiarity with regulations, conditions, and the MT5 trading platform.
They provide funding options ranging from $50,000, incurring a fee of $279, to $200,000, with a cost of approximately $800. These charges are fully reimbursable upon successful completion of the challenge and subsequent funding. Similar to many current industry practices, the process involves a two-step verification and challenge procedure.
The profit-sharing arrangement is set at 80%, one of the highest in the industry. Withdrawals are processed on a monthly basis, contingent on being flat on trades at midnight on the last trading session of each month. To put it into perspective, this constitutes a substantial profit share, as evidenced by Lux Trading Firm’s 65% and DT4X’s 60% offerings, making this company’s proposition 20% more lucrative.
Securing funding from The Prop Trading is relatively realistic and less demanding than challenges posed by other proprietary firms. The funding rules are straightforward, and a 1:200 leverage is available for account holders. Whether opting for the $50,000, $100,000, or $200,000 funding tier, the rules remain consistent. A profit target of 8% is set for the initial 30 days, with a maximum loss capped at 10% and a daily loss limit of 5%.
Successful traders then have 60 days to achieve a 4% profit, subject to the same daily and total loss constraints. This goal is attainable for most profitable traders in a good month, closely resembling the difficulty level of the FTMO $200,000 challenge. In terms of rule enforcement, reviews on forums indicate stringent adherence, with the company rendering accounts ineligible for funding if any rules are violated.
For those who find the 8% profit target challenging, there are alternative firms offering instant funding without the need for challenges or verifications. Further details can be found in comprehensive reviews of DT4X and MyForexFunds if this aligns better with your trading preferences.
The Prop Trading Capital Scaling Plan
Contrary to some well-known trading firms, The Prop Trading offers a capital scaling plan to reward consistently profitable traders. Account balances are increased at intervals, typically every four months or at every 10% gain in the account.
While The Prop Trading’s capital scaling plan lacks specific details, it is known that profitable traders see a 25% increase in capital every three months. Although the specific eligibility criteria for compounded growth are currently unspecified, the existence of any form of capital scaling is viewed positively. In comparison to DT4X’s scaling plan, The Prop Trading offers a lower percentage gain but remains a noteworthy addition to the market
The feedback from traders concerning this company is currently less optimistic. However, there are observable improvements in the company’s performance, particularly in trading conditions and profit splits. This raises the pertinent question of how one can engage with this proprietary trading firm without exposing oneself to the risk of non-payment.
A prudent approach to mitigate this risk involves simultaneous engagement with multiple proprietary trading firms. By adopting this strategy, the potential negative impact of one firm’s failure to fulfill payment obligations is minimized, preventing the loss of months of trading on a single account. For instance, concurrently utilizing services from both MyForexFunds and The Prop Trading is a recommended approach.
To facilitate seamless transitions between proprietary firms and enhance risk management, I suggest employing a forex trade copier such as MT4 Copier. This automation tool allows for the automatic replication of trades from one proprietary firm to another, reducing the inherent risks associated with proprietary trading and potentially increasing overall trading returns.
For those considering the adoption of our recommendation to engage with multiple proprietary firms for risk diversification, an exploration of our comprehensive forex trade copier list is strongly advised. This curated list provides insights into the industry’s leading tools for efficiently duplicating trades across multiple funded accounts.
If a company within the forex trading sector, particularly in the retail domain, engages in fraudulent activities or fails to provide satisfactory services, traders typically express their grievances openly. This dynamic proves advantageous, as assessing the global public reviews from traders with diverse experiences enables us to gauge a company’s overall reliability. By perusing some of our top proprietary trading firm reviews, it becomes evident that we have preemptively averted numerous potential issues by leveraging the experiences shared by traders.
The Trustpilot rating for The Prop Trading stands at an average of 3.8/5, with 24% of reviews classified as negative. While this rating is not egregiously low, when compared to other proprietary firms we have scrutinized, such as FTMO or DT4X, it is subpar and raises concerns. Regular updates to this evaluation indicate a growing number of reviews, particularly positive ones, over the past few months, which is noteworthy.
Upon reviewing the 397 comments, it is disconcerting to observe a substantial number of dissatisfied traders with the services provided by The Prop Trading. A prevalent issue appears to be instances where the company disqualifies traders without them reaching loss limits or justifying the cancellation of their accounts.
I recommend a thorough examination of all comments on Trustpilot reviews to inform your decision-making process. It is crucial to note that the negative reviews are not solely attributed to the nature of traders incurring losses and expressing frustration, as evidenced by positive reviews for other firms such as 5%ers, CTI, and DT4X on various forums.
A consistent monitoring of reviews over recent months reveals a gradual improvement in the company’s reputation within the industry. The increasing number of reviews, coupled with a gradual rise in the overall score, signifies the company’s concerted efforts to address and enhance various aspects of its proprietary funding program.
In summary, The Prop Trading is not considered a scam, yet it lacks a high level of trust compared to other reputable forex prop firms such as MyForexFunds or FTMO. Despite offering various benefits and an attractive profit-sharing model, the company faces scrutiny due to its negative reputation and unfavorable reviews on forums. Caution is advised when dealing with any funding service that seems to unfairly challenge and fail traders, as indicated by Trustpilot reviews from global traders.
I would recommend The Prop Trading for indices or crypto traders seeking additional capital and willing to assume associated risks. This might be the most viable option, especially considering that many top-rated prop firms do not support crypto trading. Alternatively, utilizing a trade copier to engage with multiple prop firms concurrently is an effective strategy to diversify risk.
If you have experience with this firm, kindly share your insights in the comments below. While I believe the company is undergoing positive changes and merits consideration for the future, given the intense competition in the industry, I remain cautious about the associated risks at present.
