Is TradersEdgeFX a scam prop trading firm?

TradersEdgeFX is a prop trading firm registered in the Bahamas that is available to a global audience of prop traders.

However, while the firm does offer MetaTrader 4 and 5, certain security features still raise questions for traders. The official website also provides very little specifics regarding the trading terms offered by the firm.

Is TradersEdgeFX a legitimate forex prop trading firm and should traders trust this company? – Find out more in our in-depth review of the firm’s features, fees, platforms and more.

Pros and cons of Funds for Traders prop firm

Quick rating of Funds for Traders and its features

FPA Score	Not yet rated
Year founded	2024
Headquarters	Nassau, the Bahamas
Minimum audition fee	$89
Fees on withdrawals	None
Minimum funded amount	$10,000
Maximum funded amount	$200,000
Allowed daily loss	5%
Profit target	10%
Maximum trailing drawdown	10%
Profit sharing (Payouts)	90%
Trading Platforms	MT4, MT5
Available trading markets	Forex, commodities, metals, stocks, crypto

Safety of TradersEdgeFX – 0

Security is of paramount importance to every trader that signs up at a prop firm and buys an evaluation challenge, as all users require their sensitive data to remain secure.

ForexPeaceArmy, which is the most popular forex broker and prop firm review aggregator, does not have a page dedicated to TradersEdgeFX, which can be a bit of an issue for users.

On the other hand, the reviews for the firm at Trustpilot are more positive, with an average rating of 4 out of 5, based on 44 reviews.

44 reviews are not enough for prospective customers to create a clear picture of the features and security of the firm. For this reason, TradersEdge lacks the security features to convince would-be traders about the safety of the firm and their personal information.

TradersEdgeFX funding and maximum capital allocation – 3

The amount of funding offered by a prop firm is incredibly important for traders, as it largely determines their decision to pick the funding challenge or to look for an alternative on what is a diverse global prop trading market.

TradersEdgeFX offers three distinct types of evaluation challenges – HFT, 1-Step and 2-Step evaluations. The maximum possible funding level for each of the three challenges rewards traders with $200,000 in simulated funds. Scaling plans are not offered, which is a major downside for the firm, as most competing prop trading firms offer maximum funding in excess of $500,000, while also enabling scaling after months of successful trading.

For this reason, TradersEdge lags behind much of its competition available on the market.

TradersEdgeFX assets – 3.5

Similarly to many other prop trading firms, TradersEdge also offers forex and CFDs trading, as well as metals, commodities and indices.

While this is a standard set of offerings for a forex prop trading firm, it must be noted that the list of specific assets traders can buy and sell is not available on the official website, which may be confusing for prospective clients.

Access to MetaTrader 4 and 5 give traders plenty of options when it comes to what to trade to complete the challenges provided by TradersEdgeFX, even if the firm is vague regarding its selection of instruments.

TradersEdgeFX rules and limitations – 2.1

Prop trading firms impose rules and limitations on how frequently clients can trade, as well as the amount of profits they must generate and how much they are allowed to lose.

When signing up at TradersEdgeFX, clients agree to the terms that apply to the specific funding challenge that they choose.

As there are three funding challenges available to choose from, the trading rules and limitations offered by TradersEdgeFX are the following:

1-Step HFT evaluation

The following rules and limits apply to the HFT 1-Step evaluation program offered by TradersEdgeFX:

• No minimum trading days
• 10% profit target
• 5% daily drawdown limit
• 10% maximum drawdown limit
• 1:30 account leverage allowed
• Up to 80% profit split
• Weekend trading is not allowed
• Hedging between accounts is not allowed
• News trading is allowed

1-Step Standard evaluation

The same general terms apply to the Standard 1-Step account and the use of Expert Advisors (EAs) are also permitted.

Copy trading between two accounts held under the same name are also allowed.

Furthermore, a lot size consistency rule is in place which limits the maximum lot size, which cannot be higher than 300% of the smallest lot size.

For example, if the smallest lot size a trader has used is 5, the maximum lot size is 15.

2-Step Evaluation

The specific terms and limitations that apply to the 2-Step evaluation program are not separately listed in the FAQ section provided by TradersEdgeFX, which is another oddity traders will find on the official website of this prop firm.

Due to the lack of relevant information and no separate tab for evaluations and their trading terms, it is likely to be difficult for prospective traders to navigate the official website and find what they are looking for, especially if they are interested in a 2-step evaluation program.

TradersEdgeFX fees – 4

The fees charged by prop trading firms can make or break their business, as the proprietary trading market is quite saturated and traders can often find affordable alternatives with acceptable terms in a matter of minutes.

For this reason, the fees charged by TradersEdgeFX are of paramount importance to prospective clients, as well as the firm itself.

Below we can look at the account fees charged for the HFT, 1-step and 2-step evaluation programs. It is also worth noting that TradersEdge offers a 40% discount on all of its programs for a limited time and such promotions are not uncommon.

1-Step HFT evaluation fees

The fees applicable for the HFT evaluation program are the following:

• $499 for the $25,000 account
• $639 for the $50,000 account
• $999 for the $100,000 account
• $1,799 for the $200,000 account

The HFT evaluation program can be quite pricey, as evident from the fees charged for each funding level. Furthermore, only 4 funding levels are available and the lowest fee is $499, which is higher than average.

1-Step Standard evaluation fees

The fees charged for the 1-Step standard evaluation program are the following:

• $159 for the $10,000 account
• $399 for the $25,000 account
• $539 for the $50,000 account
• $899 for the $100,000 account
• $1,299 for the $200,000 account

The standard 1-step account adds a $10,000 funding tier, which is accessible to more prospective traders and costs an account fee of $159.

2-Step evaluation fees

The 2-step evaluation is the most cost-effective account tier and charges the following fees:

• $89 for the $10,000 account
• $149 for the $25,000 account
• $249 for the $50,000 account
• $499 for the $100,000 account
• $899 for the $200,000 account

As mentioned, the 2-step evaluation is the most affordable account that starts at $89 for the $10,000 account.

TradersEdgeFX platforms – 3.5

TradersEdgeFX gives its clients the opportunity to use MetaTrader 4 and 5 for their daily trading activities, as they are two of the most popular platforms among forex and CFDs traders.

However, it must be noted that a mobile platform is not available, nor is a separate performance tracking software to measure the returns of the traders and track progress.

While access to MT4 and MT5 is generally a positive sign, the absence of additional features means that TradersEdge does little to stand out from the competition, in what is an increasingly competitive global prop trading market.

TradersEdgeFX profit sharing – 3

Proprietary trading firms typically offer profit splits between 80-90%, which means that traders keep 80 to 90% of the profits they generate via trading, while the firm keeps the rest. This is one of the main revenue streams for all proprietary firms.

As for TradersEdgeFX, the firm offers the opportunity to keep up to 90% of profits, which means that the firm is in line with the general industry standard.

Furthermore, the firm also does not charge any additional fees for its maximum funding level, which is a welcome feature for any prop trading firm.

Overall, while TradersEdgeFX may not stand out from the competition with its profit split agreement, it does enough to be comparable to high-profile competitors in this regard.

It is worth noting that the HFT evaluation comes with profit caps for the first few months, giving traders the following terms:

• Month 1 – 65% profit split with a 6% profit cap on account.

• Month 2 – 75% profit split with a 6% profit cap on account.

• Month 3 – 80% profit split with a 6% profit cap on account.

• Month 4 – 80% profit split with a Zero profit cap.

This may be highly inconvenient for some trailers, as most prop firms offer no such limitations on their profit splits.

Education and trading tools at TradersEdgeFX – 1.8

Beginner traders often require some sort of educational guide and content to help them learn as much as possible about how prop trading works, how to structure their trades, avoid common pitfalls and dispel misconceptions regarding the process of prop trading.

The firm offers some assistance to beginner traders on its platform, which includes mentorship programs, trading guidelines and technical features, such as live charts, economic calendars and major events, etc.

While the firm may not offer a full trading course, it does have a decent amount of educational resources to help beginners get a sense of how to use the platform to its fullest potential.

TradersEdgeFX customer support – 3.6

Clients and prospective clients that would like to reach out to TradersEdgeFX can do so using the live chat function, the support email and various social media accounts, such as Facebook, Instagram, Telegram, X, and Discord.

While the official website does not show a hotline, a quick Google search shows the number to be +1 888-212-3660 and the firm opens at 8 am EDT, Monday through Friday.

Overall, the lack of information and vagueness on the website does little to improve the sentiment regarding the unreliability of the firm, which is compounded by the absence of support information as well.

FAQ on TradersEdgeFX prop firm