Take Profit Trader is currently one of the most extensively researched proprietary trading firms in the industry. Their approach is simple: provide the funding to enable you to put your trading expertise to use and make reliable profits. The accessible platform ensures a seamless trading journey, with no hidden tricks. The primary objective of Take Profit Trader is to facilitate traders in realising their utmost potential, focusing not on complicated features but instead in aiding traders in generating a consistent income through the firm’s funds.
The company doesn’t just offer a trading platform, but also provides a wealth of educational materials, once offered as paid courses and now accessible at no cost. They believe in empowering traders with high-quality training so they can make well-informed choices. A distinctive feature of Take Profit Trader’s model is the emphasis they place on sticking to uncomplicated trading rules, as opposed to merely resetting markers. This unique approach assists traders in formulating effective strategies, thereby setting Take Profit Trader apart from its competitors.
In this review, we’ll look at all the aspects that make Take Profit Trader an exceptional funding source for futures traders.
Located in Orlando, Florida in the United States, Take Profit Trader is a prop firm helping to fund your prop trading journey. Specialising primarily in futures trading, the firm operates with a straightforward model: they provide the necessary funding for your trading, allowing you to leverage your trading skills to consistently generate profits. Through Take Profit Trader, you can trade all CME, such as CBOT, CME, COMEX, and NYMEX Future assets, including the Micros. The range of instruments available for trading with Take Profit Trader include:
- Equity Futures
- Agricultural Futures
- Foreign Exchange Futures
- Energy Futures
- Metals Futures
- Interest Rate Futures
As the company is solely a prop trading firm, it isn’t suitable for hedge fund traders working for hedge funds, who unlike prop trading firms raise their capital through limited partners or outside investors.
Take Profit Trader is concerned with more than just facilitating prop trading; it also offers a wealth of educational materials that promising traders can use to enhance their skillset and learn more about the industry, enabling them to make better informed decisions and earn consistent profits.
Take Profit Trader operates with a simple system. Initially, traders choose their favoured asset class and specify how much capital they intend to manage, dependent on their skill and experience levels. At the moment, the available asset class centres on futures markets, with stocks, forex and cryptocurrencies expected to be included soon.
Subsequently, traders demonstrate their competence by achieving a profit target while adhering to a prescribed set of risk regulations. As soon as their skills are established, traders become funded, meaning they can begin earning real money. Notably, the process doesn’t involve any downtime, meaning traders start engaging immediately in market activities.
The withdrawal process for earnings is also streamlined. Traders keep 80% of their profits, with the company transferring profits straight to the trader’s designated account. Moreover, Take Profit Trader provides traders with the opportunity of elevating their trading experience by upgrading to PRO+, which among other advantages removes the daily loss limit and increased the profit share to 90%.
To simplify the trading process, Take Profit Trader takes responsibility for technology and account configuration, liberating traders from these dull administrative duties. In order to avoid the pitfalls of undisciplined trading, the firm has devised a risk management system to maintain order during trades.
For traders seeking a sense of community and the chance to be always learning, the private Discord channel serves as an invaluable resource. You can use this channel to connect with fellow traders and access complimentary educational tools provided by the company’s leading traders. Furthermore, Take Profit Trader’s risk of ruin system serves as a protective measure whereby the company absorbs losses on Pro Accounts, thereby safeguarding the trader’s personal funds.
Take Profit Trader offers five different account sizes, which have a variety of balances as follows:
The company provides among the best-funded stock trading accounts in the industry, with the smallest account costing as little as $150 per month and the biggest only $360 per month.
Take Profit Trader offers no leverage with its trading accounts, meaning that the trading account’s balance is its buying power (i.e. the leverage is 1:1).
Limits on trading account are defined by the maximum number of contracts you can trade, dependent on the account’s size and profit. Generally, the accounts and subsequent maximum number of contracts or micros are set as follows:
- Balance – $25,000: Maximum 3 contracts or 30 micros
- Balance – $50,000: Maximum 6 contracts or 60 micros
- Balance – $75,000: Maximum 9 contracts or 90 micros
- Balance – $100,000: Maximum 12 contracts or 120 micros
- Balance – $150,000: Maximum 15 contracts or 150 micros
Take Profit Trader has profit target goals and maximum drawdowns which depend on your account size, but the rules are the same for all accounts.
There are a minimum of 10 trading days, with no maximum time. They require a minimum profit target of 6%, and maximum daily loss and end-of-day trailing down limit dependent on account size.
The maximum daily loss for the smallest account is $500, i.e., 2%, and for the biggest account is $3,300 i.e., 2.2%. The breakdown of maximum daily loss for each account size is as follows:
- Starting Capital $25,000: Max Daily Loss $500 (2%)
- Starting Capital $50,000: Max Daily Loss $1100 (2.2%)
- Starting Capital $75,000: Max Daily Loss $1600 (2.1%)
- Starting Capital $100,000: Max Daily Loss $2200 (2.2%)
- Starting Capital $150,000: Max Daily Loss $3300 (2.2%)
Take Profit Trader’s profit-sharing framework has been devised to benefit the trader first and foremost. The arrangement is for an 80/20 split, meaning a substantial 80% of the trader’s profits remain with them, guaranteeing that they enjoy the bulk of their hard-earned money. The company retains only a modest 20%, underscoring their dedication to empowering traders and prioritising their interests above all else.
Take Profit Trader provides an array of over 30 platforms, presenting you with a realm of trading possibilities. In terms of data feeds, the company generally recommends using CGQ Data Feed as opposed to Rithmic Data Feed. Below we look into the distinctive platforms that are compatible with each of these data feeds.
For CQG Data Feed:
For Rithmic Data Feed:
- Sierra Chart Trading and Charting
- Multi Charts
- Jigsaw Trading
- Order Flow Trading
- Investor RT
- Trade Navigator
- Photon Trader
These platforms offer the necessary flexibility to cater to a wide range of trading styles and strategies, helping to cultivate successful traders.
- No minimum days are required before the first withdrawal
- Wide range of trading platforms available
- Three resets for pro accounts
- Withdrawal process is instantaneous
- Regular trading competitions with prizes
- Good variety of future instruments
- Realistic profit targets
- Excellent customer support
- Futures trading only
- Automated trading is not allowed
- Holding positions overnight or during news is not allowed
- No free trial
Focused on empowering traders, Take Profit Trader offers a remarkable platform catering to both new traders and those with more experience. Their straightforward model and excellent educational and customer support systems are notable highlights. Although the firm’s current scope is limited to futures trading, lacking automated trading and overnight position holding, their ongoing development and dedication to high-quality, free education indicates a promising trajectory. The overall package is well-rounded and tailored to fostering sustainable trading practices.
It’s therefore right to consider Take Profit Trader as a valuable partner for traders aiming to maximise their profits at the same time as minimising risks. It may not be a perfect fit for every trader, but its emphasis on education, community, and risk management positions it as a formidable contender in the prop trading industry. If you’re ready to up your trading game a notch, explore Take Profit Trader, take advantage of the opportunities they offer and discover that it may the be the prop trading partner you’ve been searching for!