Clarity Traders prop firm offers funded accounts and promises a 100% profit share, which is a red flag. Prop firms should be making money by sharing profits with their traders, and any firm offering a 100% profit split only indicates potential conflicts of interest. Additionally, all funded accounts are virtual funded accounts, meaning traders can only access demo trading accounts even after they supposedly get funded. The firm has three different challenge accounts where it offers funding options from 5k to 500k USD virtual funds.
In this Clarity Traders review, we will assess the firm’s most important features, including safety, rules, funding options, assets, fees, platforms, support, and more.
Pros & cons of Clarity Traders prop firm
Pros
- Ability to withdraw with $0 fees
- Fast and digital account opening/verification
- Most payment options are free and instant
- Does not offer access to advanced trading platforms
- Promises 100% profit share, which is unrealistic
Cons
- Scam alert! The firm lacks safety and has an overwhelming number of 1-star reviews on Testpilot
- Lacks instant challenges
- Low total loss limit of 6%
Safety of Clarity Traders – 0
Clarity Traders reviews are lacking on the FPA, which is typically a red flag. The firm was launched in 2023, making it very young and inexperienced in the prop trading industry. On Trustupilot, Clarity Traders has around 50 reviews, of which around 40% are 1-star evaluations, which directly indicates serious inefficiencies in its service quality and safety. This is a major red flag, and we assume it is highly likely that the Clarity Traders scam could be going on. As for the broker backup, the firm only offers virtual or demo funded challenges. In other words, all trading is done on demo accounts, which is yet another red flag.
The firm gets a 0 score in this section, as it not only lacks safety but is most likely a scam company trying to steal one-time fees from traders.
Clarity Traders Funding and Maximum Capital Allocation – 3
Clarity Traders funded programs offered include three different funded account types, including 1-phase, traditional, and accelerated. The 1-phase evaluation is a 1-step account that requires traders to hit the profit target once. The traditional account is a 2-step account, and an accelerated account is also a 2-step account, meaning it is not accelerated or fast at all. All three challenges have the same funded options. The full list of Clarity Traders funding options includes 5k, 10k, 25k, 50k, 100k, 200k, 300k, and 500k USD amounts.
Clarity Traders challenges offer a decent range of options, but the firm severely lacks safety and reliability, which makes us suggest our readers stay away from this firm.
Clarity Traders scaling plan is not available as the firm has a decent range of funding options up to 500k USD.
Overall, the firm gets a 3 score in this section for offering mediocrely funded options.
Clarity Traders Assets – 2
Clarity Traders prop trading asset range is very limited and only includes Forex pairs, cryptos, indices, and commodities. There are no stocks or any other asset classes offered, which is a big disadvantage of this firm. The leverage is up to 1:100 on all offered assets, which is more than enough. Offering 1:100 on cryptos is super rare in prop trading, as these instruments are very volatile. In the end, the firm gets a 2 score in this section for offering a limited variety of asset classes.
Clarity Traders Trading Rules and Limitations – 0.5
Clarity Traders rules require traders to follow consistency on 1-step and classic accounts, while the accelerated account does not have this rule. Let’s compare the rules for all accounts to conclude whether these rules are reasonable or not.
The 1-phase Clarity Traders funded challenge accounts require compliance with the following:
- Minimum trading days – 1 day
- Maximum daily loss – 4%
- Maximum drawdown – 6%
- Profit target – 10%
- Consistency rule – 30%
The Traditional Clarity Traders funded challenge accounts require compliance with the following rules:
- Minimum trading days – 5 days
- Maximum daily loss – 5%
- Maximum drawdown – 8%
- Profit target – 8%
- Consistency rule – 30%
The Accelerated Clarity Traders funded challenge accounts require compliance with the following:
- Minimum trading days – 5 days
- Maximum daily loss – 5%
- Maximum drawdown – 8%
- Profit target – 8%
- Consistency rule – None
As we can see, the firm has 5 days minimum trading days, a low maximum drawdown, and a consistency rule, which makes it difficult to get funded in a reasonable time. Overall, the firm gets a 0.5 score in this section.
Clarity Traders Fees – 2
The pricing is competitive by Clarity Traders, but all the claims of it being a scam make us suggest our readers stay away from this firm. The minimum fee starts at 50 dollars for the $5,000 challenge of the 1-phase account type. There are no fees for withdrawals, as the firm most likely won’t allow withdrawals anyway.
The Clarity Traders free trial is not available, and the Clarity Traders free repeat is not offered either. Overall, the firm gets a 2 score in this section.
Clarity Traders Platforms – 0.9
Clarity Traders lacks advanced trading platforms like MT4 and MT5 and only offers proprietary custom web trading platforms. This platform is far inferior to the popular platforms. It offers only basic features, lacks custom indicators, and is limited by its few built-in indicators.
Mobile trading is available but is inconvenient with the firm’s platform.
Overall, Clarity Traders gets a 0.9 score in this section for lacking advanced platforms.
Clarity Traders Profit-Sharing – 0.5
Clarity Traders profit split is 100%, which is a direct indication that the firm is a scam. Prop firms should be making money by sharing trader-generated profits with their traders.
As a result, the firm gets a 0.5 score in this section for having a major red flag with withdrawals.
Education and trading tools at Clarity Traders – 0
The firm does not offer any educational resources. There are no webinars, video guides, or trading courses. Trailers will have to search for financial trading services somewhere else.
There are no tools either, and the firm gets a 0 score in this section.
Customer Support at Clarity Traders – 2.4
The support is provided via live chat and email channels. The live chat is built into the website. The firm lacks phone support, which adds to its list of red flags. Both the website and support of Clarity Traders are provided only in the English language, which is also a downside. Overall, the firm gets a 2.4 score in the support section.
Frequently Asked Questions on Clarity Traders
Is Clarity Traders legit?
Is Clarity Traders a good prop firm?
What is the minimum Clarity Traders fee?
