TakeProfitTrader Review 2024

TakeProfitTrader Review 2024

TakeProfitTrader stands out as one of the best-regarded prop trading firms in the futures market, currently attracting a lot of attention – and rightly so. Their approach is straightforward: they provide the capital, and you use your trading expertise to consistently earn profits. Their platform is designed to be user-friendly, free from any deceptive tactics or complexities, ensuring your trading experience is as seamless as you could hope for. The primary mission at TakeProfitTrader is to assist traders in achieving their full potential. Rather than overwhelming users with complicated features, they concentrate on enabling traders to generate a stable income with their financial backing.

The firm offers more than just a trading platform; it also provides access to extensive educational resources – previously paid-for, but now free! They’re committed to equipping traders with top-notch education to ensure they can make well-informed trading decisions.

A distinctive feature of TakeProfitTrader is its focus on adhering to straightforward trading guidelines rather than simply resetting markers. This unique method encourages traders to craft effective strategies, in turn increasing their profitability.

In this review we explore all the attributes that mark the firm out as an excellent funding source for futures traders.

TakeProfitTrader, based in Orlando, Florida, USA, supports prop traders by funding their trading activities. The firm primarily targets traders who specialise in futures. Their straightforward business model involves providing capital for traders, who in turn use their trading skills to consistently make profits.

TakeProfitTrader offers a straightforward and transparent platform, free from any hidden manoeuvres or surprises and designed to facilitate a seamless trading experience for both newer traders and those with more experience. Working with the firm, you’re able to trade across all CME groups including CBOT, CME, COMEX, and NYMEX Futures, as well as their Micro versions. Available trading instruments on TakeProfitTrader are as follows:

  • Interest rate futures
  • Equity futures
  • Foreign exchange futures
  • Energy futures
  • Metals futures
  • Agricultural futures

TakeProfitTrader operates exclusively as a prop trading firm, so it’s not appropriate for hedge fund traders employed by hedge funds. Hedge funds typically gather their funds from external investors or limited partners, which is of course not the case with prop trading firms.

On top of supporting prop trading, TakeProfitTrader offers extensive educational resources that emerging proprietary traders can use to increase their understanding of the industry and make well-informed decisions, which helps them to make bigger and more consistent profits.

Take Profit Trader 50% Discount banner with QR Code FundYourTrade.com

The process at TakeProfitTrader is clear and simple. Initially, traders select their preferred asset class and the amount of capital they intend to manage, which is determined by their experience and expertise. At present, the only available asset class is futures markets, though stocks, forex, and cryptocurrencies are all expected to be included shortly.

Subsequently, traders demonstrate their proficiency by achieving a specified profit target while sticking to certain risk management rules. Once their abilities are confirmed, traders qualify as funded traders, ready to begin earning real money with no delay.

The process for withdrawing earnings is also streamlined. Traders keep 80% of their profits, with the company directly transferring earnings to the traders’ designated accounts. TakeProfitTrader also provides the option to further improve you experience by upgrading to PRO+, which offers several advantages, including elimination of the daily loss limit and an improved profit share of 90%.

The below table displays how Take Profit Trader differentiates itself from their competitors.
The futures prop firm designs their platform and services to provide traders the opportunity of day one profits in PRO.

To simplify the trading process, TakeProfitTrader handles the technology and account setup, so you don’t have to think about all those burdensome administrative duties. To make sure their traders stay disciplined – which is all too often a problem – the firm has implemented a risk management system.

For those who value a supportive community and are keen to keep learning, the private Discord channel is a really valuable platform. You can engage with colleagues and receive complimentary training from the company’s leading traders. Additionally, TakeProfitTrader’s risk of ruin system protects traders on Pro Accounts by covering any losses, thereby securing your personal capital.

TakeProfitTrader provides five different account sizes as follows:

  • $25,000
  • $50,000
  • $75,000
  • $100,000
  • $150,000

TakeProfitTrader’s pricing is very competitive, with the smallest account costing just $150 per month and the largest only $360 per month. Keep in mind that you can benefit from our exclusive discount using our 50% off coupon code: FUNDEDPROGRAM.

TakeProfitTrader doesn’t offer leverage with its trading accounts, meaning the balance of the trading account directly reflects its buying power (in other words the leverage ratio is 1:1).

The limits of your trading account are determined by the maximum number of contracts you can trade, which varies based on your account’s size and profit performance. Generally, the accounts and their corresponding maximum number of contracts or micros are structured like this:

  • Balance – $25,000: Maximum three contracts or 30 micros
  • Balance – $50,000: Maximum six contracts or 60 micros
  • Balance – $75,000: Maximum nine contracts or 90 micros
  • Balance – $100,000: Maximum 12 contracts or 120 micros
  • Balance – $150,000: Maximum 15 contracts or 150 micros

Depending on the size of your account, TakeProfitTrader sets various profit targets and maximum drawdown limits you need to stick to. The rules remain consistent across all account sizes.

You’re guaranteed at least 10 trading days, with no upper limit on time. The minimum profit target is 6%, with the maximum daily loss and end-of-day trailing drawdown limits varying by account size.

The smallest account’s maximum daily loss is $500, (i.e. 2%), while the largest account has a threshold of $3,300 (i.e. 2.2%). The limits for each account are as follows:

  • Starting Capital $25,000: Maximum daily loss $500 (2%)
  • Starting Capital $50,000: Maximum daily loss $1100 (2.2%)
  • Starting Capital $75,000: Maximum daily loss $1600 (2.1%)
  • Starting Capital $100,000: Maximum daily loss $2200 (2.2%)
  • Starting Capital $150,000: Maximum daily loss $3300 (2.2%)

The profit-sharing arrangement at TakeProfitTrader is notably in favour of the trader, featuring an 80/20 split. This generous structure allows traders to retain a substantial 80% of all profits they earn, while the firm keeps just a small portion – 20% – underscoring its dedication to empowering its traders and prioritising their interests.

TakeProfitTrader provides access to over 30 different platforms, offering a fantastic range of trading possibilities. Regarding data feeds, the company generally recommends using the CQG Data Feed over the Rithmic Data Feed.

The specific platforms that are compatible with each of these data feeds are as follows:

For CQG Data Feed:

  • TradingView
  • Tradovate
  • NinjaTrader

For Rithmic Data Feed:

  • Sierra Chart Trading and Charting
  • Multi Charts
  • Quantower
  • Motivewave
  • Jigsaw Trading
  • Bookmap
  • R-Trader
  • Photon Trader
  • Order Flow Trading
  • eSignal
  • Investor RT
  • Agena
  • Trade Navigator
  • net
  • OScalp
  • ATAS

These platforms offer the flexibility required to cater to various trading styles and strategies, helping you to develop into a more successful trader.

  • There’s no waiting period required before making your first withdrawal
  • A broad selection of trading platforms is available
  • Pro accounts benefit from three resets
  • The withdrawal process is immediate
  • Frequent trading competitions that offer attractive prizes
  • A diverse range of futures instruments is available
  • The profit targets are achievable
  • Customer support is of excellent
  • Exclusively futures trading
  • No automated trading permitted
  • Positions can’t be held overnight or during news events.
  • There isn’t any free trial.

An excellent platform with a strong emphasis on empowering traders, TakeProfitTrader is suitable for traders with a lot of experience as well as those just starting out in the industry. Its transparent approaches, along with comprehensive educational and support structures, are standout features. The firm currently only facilitates futures trading, doesn’t allow you to hold positions overnight and doesn’t allow automated trading, but their ongoing development and dedication to delivering free, high-quality education are promising. The services they provide are clearly designed to help you succeed in the long run.

Because of this, Take Profit Trader may be a very useful tool for traders who want to increase earnings while also lowering the risks the take. Its focus on community, education, and risk management makes it a particularly compelling option in the world of prop trading firms.

For traders who are keen to take their trading game up a notch, we recommend you take a closer look at TakeProfitTrader as it could well be what you’re looking for!

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