TakeProfit Trader prop firm is a futures prop trading company that offers faded accounts to futures traders. There are no other assets offered, and the fees are monthly subscription fees, which are very popular among futures firms. Funded options range from 25k to 150k USD buying power, and fees start at 150 USD per month. Traders start on a prop account, which is a demo account, and can achieve a pro + funded account status, allowing them to increase their base profit sharing from 80 to 90%.
In this TakeProfit Trader review, we will assess the firm’s critical features, including safety, fees, rules, funded options and types, support, education, and more.
Pros & cons of TakeProfit Trader prop firm
Pros
- Ability to withdraw with $0 fees
- Offers access to advanced platforms like NinjaTrader, TradingView, and Tradovate
- Fast and digital account opening/verification
- Most payment options are free and instant
- Only futures are available
Cons
- Low total loss limit of 3% and very low daily loss limit of 2.2%
- Low safety score
- Lacks smaller funded challenges below 25k USD
- Lacks hotline and multilingual support
Safety of TakeProfit Trader – 1
TakeProfit Trader reviews are lacking on the FPA platform, which is always a bad sign. However, TakeProfit Trader has more than 2,300 reviews on the Trustpilot platform, and 10% of these reviews are 1-star evaluations, which indicate inefficiencies with the firm’s services. Another important factor for evaluating the firm’s safety is to check its experience in the prop trading industry. TakeProfit Trader was launched in 2022, which makes it relatively experienced in the industry. All funded challenges are virtual or demo accounts, and traders do not access live markets even after they get funded.
The firm gets a 1 score in this section for lacking many important safety features.
TakeProfit Trader Funding and maximum capital allocation – 1
TakeProfit Trader funded programs allow traders to gain access to buying power to speculate on futures instruments. Traders need to achieve a profit target without failing to follow strict risk limits. TakeProfit Trader funding options include 25k, 50k, 75k, 100k, and 150k USD amounts.
TakeProfit Trader challenges are not diverse, and there is only one type of challenge type where traders need to hit a profit target to get funded and trade for profits on a virtual account.
The TakeProfit Trader scaling plan is not available, and traders can only access the maximum funded amount of 150k, which is a big disadvantage for the firm.
In the end, TakeProfit Trader gets a 1 score in this section for lacking smaller funding options and lacking a scaling plan.
TakeProfit Trader Assets – 0.5
TakeProfit Trader prop trading is only possible through speculation on futures markets. Traders can access many types of futures, including currencies, equities, etc. While there are many different asset classes offered in the form of futures, they are still one type of asset class, and there are no Forex and other popular assets offered, which is a downside. The spreads are average and not very attractive. There are trading commissions charged for opening futures of $5/$0.50 RT.
Overall, the firm gets a 0.5 score in this section for offering only futures.
TakeProfit Trader Trading rules and limitations – 0.2
TakeProfit Trader rules require traders to hit a predefined profit target of 6%, which is a very attractive and reasonable target. However, the daily loss limit is very strict at 2.2%, and the maximum drawdown is set at 3%. With these strict rules, traders have to be extremely careful not to breach any of them. News trading is prohibited, and it would make no sense anyway since the firm has super strict risk limits.
For having one of the strictest rules and requirements, TakeProfit Trader gets a 0.2 score in this section.
TakeProfit Trader Fees – 2
The fees charged by the firm are monthly subscription fees. The 25k buying power challenge requires 150 USD per month; 50k costs 170 USD, 75k costs 245 USD, 100k USD costs 330 USD per month, and 150k USD will cost 360 USD.
TakeProfit Trader free trial is not offered at the moment, which is a big downside. However, TakeProfit Trader free repeat is available 3 times for free in case the trader breaches rules on the pro+ funded account.
The firm gets a 2 score in this section.
TakeProfit Trader Platforms – 3.5
The firm allows traders to access several advanced trading platforms, including NinjaTrader, TradingView, and Tradovate. All this software is very capable and allows advanced futures trading features. Automated trading and custom indicators are also supported.
Overall, the firm gets a 3.5 score in this section.
TakeProfit Trader Profit-Sharing – 3
TakeProfit Trader profit split starts at 80%, which is attractive. However, traders can get a 90% profit share on the pro+ account when traders become pro futures funded traders.
Withdrawals are fast, and the firm gets a 3 score in this section.
Education and trading tools at TakeProfit Trader – 3
The firm offers an e-book about futures prop trading, and there is also an article knowledge base where topics are listed and easy to select. There are no webinars or video guides, which is a downside, but the overall educational experience is OK at the TakeProfit Trader prop firm.
Overall, the firm gets a 3 score in this section for offering average experience in trading education.
Customer Support at TakeProfit Trader – 2.4
Customer support at TakeProfit Trader is provided via several channels, including live chat and email options. There is no phone support, and both the website and support are only in the English language, which is a downside. Overall, the firm gets a 2.4 score in this section.
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