The Concept Trading prop firm offers funded challenge accounts and promises quick scaling with up to 50 million dollars in virtual funding. The firm offers a unique naming for its challenges and offers funding options ranging from 1k to 200k USD. The rules are different for each challenge type, and the firm promises 48-hour payouts. The leverage is very high at 1:200 which is much higher than what reliable prop firms offer.
In this The Concept Trading review, we will assess the firm’s most important features such as safety, rules, funding options, assets, platforms, fees, support, education, and more.
Pros & cons of The Concept Trading prop firm
Pros
- Ability to withdraw with $0 fees
- Most payment options are free and instant
- Fast and digital account opening/verification
- Very expensive fees from 97 dollars to 1,000 USD challenges
- Does not offer access to MetaTrader 4, MetaTrader 5
Cons
- Low total loss limit of 3-5%
- Lacks safety, trader reviews, and experience
- Lacks proper live chat
Safety of The Concept Trading – 0
The Concept Trading reviews are lacking on the FPA, indicating the firm lacks trader reviews, which is a major red flag. On Trustpilot, the firm has few reviews, which is not yet enough to define whether it is safe or reliable. The firm was established in 2023 which makes it very young and inexperienced in the prop trading space. All trading is done on virtual trading accounts, meaning traders are always trading on demo accounts, even when they get funded and trade for profits.
The firm gets a 0 score in this section, for lacking every crucial safety feature.
The Concept Trading Funding and Maximum Capital Allocation – 3.5
The Concept Trading funded programs are diverse and include several changes such as Traditional, Premier, Empire, and Xtreme. Each challenge account comes with different funded options. The Traditional The Concept Trading funding account offers 1k, 1.5k, 2k, and 2.5k USD options. The Premier challenge includes 3k, 5k, 10k, 17k, and 25k USD funding options. The Empire is yet another The Concept Trading challenge that offers 10k, 25k, 50k, 100k, and 200k USD funding options. Xtreme Prop Accounts offer 10k, 20k, 50k, and 100k USD funding options.
The Concept Trading scaling plan allows traders to increase their virtual funding to up to 50 million USD, which is an impressive number. Each challenge type comes with a different scaling ceiling.
Overall, the firm gets a 3.5 score in this section for offering diverse accounts but still not higher than 200k funding without scaling.
The Concept Trading Assets – 2.5
The Concept Trading prop trading is available through a diverse set of asset types including, FX Majors, FX Minors, FX Crosses, FX Exotics, Metals, Energy, Crypto, Indices, FX Index, and Commodities. There are no other asset types offered, such as stocks or futures, which is a minor downside for the firm. The leverage is up to 1:200 which is very high and flexible.
Overall, the firm gets a 2.5 score in this section for offering a decent range of assets but still lacking some popular pairs.
The Concept Trading rules and limitations – 1
The Concept Trading rules are slightly different for each funded type offered by the firm. Let’s compare each of the accounts for clarity.
The Traditional The Concept Trading funding accounts require traders the following:
- Profit target – 6%
- Maximum drawdown – 4%
- Time limits – None
The Premier challenges have the following rules:
- Profit target – 7%
- Maximum drawdown – 5%
- Time limits – None
The Empire challenge has the following requirements:
- Profit target – 10%
- Maximum drawdown – 10%
- Time limits – No limit
Xtreme Prop Accounts require compliance with the following rules:
- Profit target – 6%
- Maximum drawdown – 3%
- Time limits – None
As we can see, the firm has no daily loss limit and only has a strict maximum drawdown. This drawdown is very small and makes it difficult to hit profit targets in a reasonable time, requiring extremely low risk-taking. The firm allows EAs, algorithms, and scalping strategies.
Overall, the firm gets a 1 score in this section.
The Concept Trading Fees – 0.5
The pricing is different for each account type and funding option, starting from 97 USD for the Traditional 1,000 USD challenge. This is extremely expensive. All other fees are even more expensive and make it difficult to recommend this firm to anyone. Coupled with the safety issues, the firm is not attractive or reliable.
The Concept Trading free trial is not offered at the moment, and the Concept Trading free repeat is not available either.
The firm gets a 0.5 score in this section for offering very expensive products that are not attractive to anyone.
The Concept Trading Platforms – 1.5
The firm offers only one prop trading platform, DXTrade. While this platform is advanced and was designed for prop trading, it lacks custom indicators and automated training robots (EAs) support. This platform is also available for mobile devices and is overall a decent trading software. However, because of a lack of advanced features and EAs, the firm only gets a 1.5 score in this section.
The Concept Trading Profit-Sharing – 1
The Concept Trading profit split starts low at 50% and increases gradually to 70% which is also low. The firm promises 48 hours of withdrawal processing, but the profit split is very low.
There are no fees for withdrawals, and the firm gets a 1 score in this section only for this feature.
Education and trading tools at The Concept Trading – 0.5
The firm lacks educational materials. There are no webinars, training courses, or video guides about financial trading. There is a trading blouse though, but it mainly concerns posts on various prop trading topics, which are not useful for gaining trading skills.
Overall, the firm gets a 0.5 score in this section for lacking comprehensive educational materials.
Customer Support at The Concept Trading – 2
The support is provided via live chat and email options, but there is a caveat here. The live chat has a built-in automated system that only allows for certain predefined answers. If the trader types something in, the chart will end. There is also a Discord channel, but it is inconvenient unless you are a Discord user. The firm does not provide multilingual support as both the website and support are only in the English language, which is a downside as well. Overall, The Concept Trading gets a 2 score in this section.
Frequently Asked Questions on The Concept Trading
Is The Concept Trading legit?
Is The Concept Trading a good prop firm?
What is the minimum The Concept Trading fee?
