Elite Trader Funding Review

Elite Trader Funding is proprietary trading firm established in 2022 by Kanwal Singh, Clint Chaney and Eric and located in Delaware, United States. The firm is well-regarded, having been reviewed by 157-day traders worldwide on Trustpilot, and their customer support is responsive.

The futures prop firm gives traders access to as many as 20 trading accounts under one login, and their profit share is generous. Monthly sales and discounts further sweeten the package. However, although trading during the news and on holidays is allowed, trading during market close is not, and they enforce a strict trailing drawdown.

Traders partnering with the prop firm have a range of account options, including eight sizes for One Step Evaluations, three for Fast Track Evaluations, six accounts for End of Day Drawdown Evaluations, two for Static Drawdown Evaluations, and one called Diamond Hands Evaluation. Each account is priced differently. Once you purchase an account, you will be sent your login details over email, and can then trade on platforms like NinjaTrader or Tradovate.

There are five key rules during the evaluation, but not all of these apply to every account option. These rules include a maximum number of trading days, a maximum drawdown, the requirement to reach a set profit target, and to use particular trading instruments during specified trading hours.

In this review we’ll discuss everything you need to know about Elite Trader Funding, answer questions you may have and guide you through starting your evaluation with the firm.

Elite Trader Funding was set up in 2022 by Kanwal Singh, Clint Chaney and Eric, presenting futures traders who can pass the firm’s evaluation with opportunities to access funded trading accounts. They are based in Delaware, United States.

A prop trading firm trades financial assets with its own capital, rather than that of its clients. In contrast to investment firms, their focus is on direct market profits. Such firms generally employ professional traders to make profits for the firm using a range of trading strategies, rewarding them with a percentage share of the profits.

There are several benefits to partnering with Elite Trader Funding:

  • Free trial: The firm provides a two-week free trial of the $250K Fast Track account on NinjaTrader only.
  • Multiple funding programs: Elite Trader Funding offers traders five options with 20 account sizes. Each evaluation has its own criteria, such as drawdown limits and profit targets, enabling traders to choose whatever best suits their trading style and appetite for risk.
  • Multiple accounts: Traders can have as many as 20 trading accounts under one login.
  • Attractive payouts and profit split: Traders receive 100% of the first $12,500 they generate in profits, and 90% of profits thereafter.
  • Complimentary NinjaTrader platform license: Elite Trader Funding’s traders can use NinjaTrader for free.
  • Trader-centric approach: Elite Trader Funding are committed to helping traders succeed, giving retail traders a platform to demonstrate their trading abilities, and funding opportunities for those who perform well. In this model, traders earn a substantial share of the profits, thereby aligning the company’s interests with those of the traders.
  • Flexible trading conditions: Elite Trader Funding allows traders to trade whenever suits them, including during the news, thereby catering to a range of trading styles and providing some of the industry’s most flexible conditions.

Pricing for Elite Trader Funding accounts start at $45 and goes up to $745, based on which option and account size you choose. The table below breaks the fees down by option and account size:

Option

Account size (Eval)

Price

Fast Track Evaluations

$25K

$45

Fast Track Evaluations

$100K

$75

Fast Track Evaluations

$250K

$150

1 Step Evaluations

$10K

$80

1 Step Evaluations

$25K

$145

1 Step Evaluations

$50K

$165

1 Step Evaluations

$75K

$185

1 Step Evaluations

$100K

$205

1 Step Evaluations

$150K

$295

1 Step Evaluations

$250K

$515

1 Step Evaluations

$300K

$655

End of Day Drawdown Evaluations

$25K

$275

End of Day Drawdown Evaluations

$50K

$295

End of Day Drawdown Evaluations

$75K

$365

End of Day Drawdown Evaluations

$100K

$430

End of Day Drawdown Evaluations

$150K

$605

End of Day Drawdown Evaluations

$250K

$745

Static Drawdown Evaluations

$100K

$135

Static Drawdown Evaluations

$150K

$300

Diamond Hands Evaluations

$100K

$365

1 step, 5 minimum trading days, intraday unrealized PNL trailing drawdown. See all the rules.

1 step, 5 minimum trading days, end of day PNL trailing drawdown. Funded accounts also have end of day drawdown. See all the rules.

1 step, 5 minimum trading days, 14 calendar days maximum, intraday unrealized PNL trailing drawdown, no resets. See all the rules.

Traders have a choice of a number of evaluation types that each have their own criteria, including initial balance, profit target, drawdown limits and maximum trading days. When you reach the profit target and trade for a minimum of five days without hitting the maximum drawdown limit, you will be eligible for funding.

Elite Trader Funding’s profit share is highly attractive: traders keep 100% of the first $12,500 they generate in profits, and 90% thereafter. Traders also have the option to reset their evaluation for a $75 fee, meaning if you hit the maximum drawdown limit you can just try again.

Follow these steps to get started:

  1. Create an account on the firm’s website
  2. Choose the evaluation account most suitable for your requirements
  3. Purchase your chosen account using Stripe on the website
  4. Await account activation
  5. Start trading!
  6. Ensure you adhere to rules and guidelines like maximum drawdowns
  7. Use the program’s criteria to evaluate how well you’re trading
  8. If you meet the criteria and pass the evaluation, you’ll receive funding
  9. Start trading on your funded account
  10. Request withdrawals or payouts from the profits you’ve generated

Each evaluation option has its own unique rules, which we list below:

Fast Track Evaluations:

  • Don’t breach the trailing drawdown
  • Avoid trading during non-approved hours
  • Don’t trade instruments that aren’t allowed
  • Reach the profit target in a maximum of 15 days

1-Step Evaluations:

  • Don’t breach the trailing drawdown
  • Avoid trading during non-approved hours
  • Don’t trade instruments that aren’t allowed

End-of-Day Drawdown Evaluations:

  • Don’t breach the EOD drawdown
  • Don’t hit the daily drawdown
  • Avoid trading during non-approved hours
  • Don’t trade instruments that aren’t allowed

Static Drawdown Evaluations:

  • Don’t hit the static drawdown
  • Avoid trading during non-approved hours
  • Don’t trade instruments that aren’t allowed

Diamond Hands Evaluations:

  • Don’t breach the trailing drawdown
  • Don’t hit the daily drawdown
  • Avoid trading during non-approved hours
  • Don’t trade instruments that aren’t allowed

Traders also need to achieve the three following trading objectives, for all evaluation options:

  • Trade for a minimum of five days
  • Reach the profit target
  • Adhere to the consistency rule, which is that the profit from no single trading day should not 40% of your total profits

How Does Elite Trader Funding’s Trailing Maximum Drawdown Work?

Elite Trader Funding’s Trailing Maximum Drawdown works dynamically, adjusting intratrades and intraday and operating as the account’s moving stop loss. In contrast to end-of-day calculations, the drawdown threshold moves up in real-time as the profits increase but remains static during losses. If your account balance breaches this threshold, your account will be terminated.

How does Elite Trader Funding’s EOD Drawdown work?

Elite Trader Funding’s EOD (End Of Day) Drawdown assesses a trader’s account balance at the conclusion of the trading day. Differing from real-time adjustments, it specifically monitors whether the account balance falls below a predetermined limit only at the close of the trading day. If the balance breaches this limit at day’s end, it may result in account termination. This method allows for intraday fluctuations while requiring a balance above the threshold by the end of the day.

All trades must be closed one minute before close of market. Each instrument may have its own closing time, which can be affected by holidays. There are, however, no restrictions for traders using the Diamond Hands account, where you can hold trades overnight or even longer. Elite Trader Funding can be contacted by both clients and non-clients for any queries or technical support from 08.00 to 16.00 CST.

Elite Trader Funding’s trading instruments are as follows:

  • Equity futures: 11 types (including E-mini S&P 500, NASDAQ 100, Russell 2000, and others).
  • Currency futures: 9 types (covering major currencies like AUD, GBP, EUR and JPY).
  • Interest Rate futures: 14 variants (spanning 10-Year, 2-Year, 30-Year, 5-Year yields, and others).
  • Energy futures: 7 varieties (Including Crude Oil, Natural Gas, Heating Oil).
  • Metal Futures: 5 versions (Gold, Silver, Copper, Palladium, Platinum).
  • Cryptocurrency futures: 4 types (Bitcoin and Ethereum with their micro variants).
  • Agricultural Futures: 12 forms (covering Corn, Soybean, Wheat, Cattle, and others).

All of Elite Trader Funding’s accounts come with complimentary real-time data and a NinjaTrader license. The firm is compatible with over 31 trading platforms, including industry-leaders like Tradovate, NinjaTrader, Rithmic and TradingView, and they support a range of trading tools, enabling traders to trade seamlessly.

US traders receive payouts through ACH and those outside the US through PayPal, Wise or Stripe. Traders can request profit withdrawals after 15 trading days, with a minimum withdrawal of $100 and withdrawal limits dependent on their account size and payout cycle. For example, the first cycle for a $10K account is $1,000.

  • Free Trial
  • Numerous evaluation options cater to a range of trading styles.
  • Trading conditions are flexible, with no restrictions on trading hours.
  • Traders benefit from a 90% profit share after the first $12,500 generated.
  • Monthly subscribers whose accounts are failed will automatically receive free evaluation account resets.
  • You can trade as many as 20 accounts under one login.
  • Daily loss limit and maximum drawdown rules can be difficult for traders with less experience.
  • Futures trading only.
  • Holding overnight trades is not permitted, which may restrict the use of strategies that require longer-term positions.

Elite Trader Funding provides an unrivalled opportunity for established traders to access funding and demonstrate their abilities. With their commitment to the trader, generous profit share and wealth of educational tools, the firm offers industry-leading funded stock trading accounts. Furthermore, the free trial enables aspiring traders to get to grips with the platform before putting down money. A few minor drawbacks, such as restrictions on holding trades overnight, are easily outweighed by the firm’s benefits.

Our conclusion is that Elite Trader Funding’s trader-focused model and emphasis on profit make it a ground-breaking platform for traders seeking to boost their careers. Use this FundedProgram coupon code to save 65% and embark on your journey with Elite Trader Funding today!

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