Take Profit Trader Review

1. What is Take Profit Trader?
2. Take Profit Trader Pros Cons
3. Is Take Profit Trader Legit?
4. Take Profit Trader Challenge
5. Funded Account
6. Account Conditions
7. Payout
8. Take Profit Trader Alternative

Our Review Method

• 55Brokers Financial Experts with over 15 years of experience in Trading check and verify carefully Proprietary Trading Firm offerings and what the challenge you have to pass to become a Funded Trader to give an expert opinion on Take Profit Trader and its reliability

What is Take Profit Trader?

Take Profit Trader is a proprietary trading firm that offers funding to traders who wish to trade futures without risking their personal capital by getting a Funded Account. It stands out for its emphasis on education, comprehensive curriculum, and commitment to trader success, providing a supportive platform for both novice and experienced traders to thrive in the dynamic world of trading.

As a proprietary trading firm, Take Profit Trader provides a unique chance for traders to enter the market with minimal initial investment by offering company funds for trading. To access these funds, traders must successfully complete a qualification test or challenge. Once approved, they can trade on behalf of the company as professional traders. However, it’s important to be aware of the risks involved before starting. Read more about Prop Trading here

Is Take Profit Trader Legit?

Take Profit Trader is based in USA and has received positive feedback from users for its exceptional services, emphasizing its fast and reliable customer service and the ease of funding and straightforward rules for trading. 

• As compared to Forex Brokers, Prop Trading firms are not operating under the Forex Broker license, therefore, are much less regulated and are not overseen by the industry regulators, as such are not highest level safe, since company is the one who maintains the whole operation and giving Funds to run Trading activity, so is important to understand all risks involved.

Is Take Profit Trader Scam?

We checked the company legit information through the official website and did not find evidence for the Take Profit Trader company to be a scam. Yet, since Prop Trading Firms are almost no regulated by the financial authorities it is hard to define Scam or True nature of the firm.

As our professional advise, it is best to learn well about Prop Trading, understand risks and choose Company with a good reputation also one operate for many years so the proposal is more stable. Yet, since you do not invest much money to trading but just pay subscription fees the potential losses still considered lower if compared to engaging into Real Trading with your own funds.

Take Profit Challenge Evaluation Rules

Delving into the main point of our Take Profit Challenge Review, it’s crucial to examine how the evaluation challenge is structured and understand the prerequisites for participating in the trading challenge. This entails grasping the type of test one must pass to obtain a Funded Trading Account and become a Proprietary Trader, as well as comprehending the associated costs typically based on a Registration Fee.

• Take Profit Trader evaluation program for obtaining a funded account is a one-step process. Unlike other prop firms that may require a two-step evaluation process, Take Profit Trader simplifies its approach by offering a single phase for traders to demonstrate their skills and meet specific targets

Account Balance and Registration Fee

• The Take Profit Trader evaluation program, known as the Take Profit Challenge, sets specific goals and rules for traders aiming to qualify for a funded account. This program is designed to assess a trader’s ability to generate profits while effectively managing risk.
• The firm offers various account sizes ranging from $25,000 to $150,000, with subscription costs varying based on the account size. For example, $25,000 accounts are available for $150, while $150,000 accounts are offered for $360.

Profit Target

The challenge encompasses several rules that traders must adhere to in order to demonstrate a successful strategy and performance. One of the most critical parameters is the Profit Target, which is determined based on the challenge you select. In Take Profit Trader’s evaluation program, the profit target is set at 6% of the account balance. Achieving this target is a crucial requirement for traders aiming to qualify for a funded account.

Maximum Loss

For Take Profit Trader, the maximum daily loss and end-of-day drawdown limits are expressed as percentages of the account balance: 2% for the daily loss limit and 3% to 6% for the end-of-day drawdown limit, depending on the account size​

Minimum Trading Period

Another important rule typically used in Proprietary Trading tests is to be Profitable within minimum of the required days or periods. As we notice in Take Profit Trader, the minimum of trading days are set to 5 for all account sizes.

See the detailed table with Take Profit Trader challenge conditions based on Account Size:

Take Profit Trader Evaluation

Free Trial

Take Profit Trader does not offer a free trial for its evaluation program. Traders interested in participating in the evaluation and gaining access to funded accounts will need to follow the evaluation process and meet the specified criteria, which includes achieving the profit target and adhering to the evaluation rules.

Take Profit Trader Funded Account

Upon successfully passing the test or challenge, the trader’s Funded Account will be established, a process that typically takes a few business days to activate. It’s crucial to note that the account conditions and balance will mirror those for which you qualified in your test. Should you wish to upgrade to a higher-grade account, you will need to retake the test from the beginning for the desired account balance you aim to trade with.

Profit Split

Take Profit Trader provides flexibility in account sizes and a fair profit-sharing model, where traders keep 80% of the profits, with an option to upgrade to a PRO+ membership for a more advantageous profit split of 90/10

Payout and Withdrawals

To withdraw from Take Profit Trader, you have three payout options: ACH, Bank Wire, or PayPal. They will send you a form within 24 hours of your withdrawal request, allowing you to choose your preferred method. You may also need to complete a tax form as part of the process

Account Conditions

For Account Conditions themselves, we check carefully whether Broker has various account preferences, also what Platforms, Instruments and Trading Costs are applicable. It is also important to check Leverage levels and Trading conditions offered, since some Brokers may restrict some startegies and do now allow specific practices in Funded accounts, which may result in loss of Account therefore to regain it you will need to pass the test again. See detailed breakdown below:

Trading Instruments

Take Profit Trader allows trading in a wide range of Futures, including Agricultural Futures, Equity Futures, Interest Rate Futures, Foreign Exchange Futures, Metals Futures, and Energy Futures.

Take Profit Trader Commission

Another point we check is the Commission or Spread on the trades themselves, this conditions are quite favorable at Take Profit Trader as the Broker offers Commission basis of only 3$/Per Lot

Leverage

Take Profit Trader does not offer leverage. Instead, the trading account balance is used as buying power, meaning the leverage is 1:1. Your trading limits are determined by the maximum number of contracts you can trade, which depends on your account size and profit​

Take Profit Trader App Platform

Take Profit Trader uses various free platforms for trade execution, such as TradingView, Tradovate, NinjaTrader, Quantower, and R | Trader Pro, catering to the diverse needs of traders with different strategies​

Trading Conditions

Take Profit Trader has carefully structured its trading conditions to create a well-balanced environment that supports trader success and development. These conditions are specifically tailored to improve trading prospects and aid traders in progressing along their trading journey with efficiency and effectiveness.

• In Take Profit Trader, popular trading conditions such as News Trading, Swing Trading, EA Trading, and Weekend Holding are all permitted. Additionally, traders have the added advantage of utilizing Copy Trading from another Take Profit Trader account, providing extra benefits for various strategy traders. However, it’s essential to note that there are some restrictions as well; practices like High-Frequency Trading, Latency Trading, and Arbitrage are not permitted.

Take Profit Trader Promotions

As observed, the company occasionally runs promotions offering Take Profit Trader coupons for discounts, which may also include some Take Profit Trader discounts. However, these conditions are typically provided on a temporary basis, so it’s advisable to verify their availability upon signing in.

Take Profit Trader Alternative Brokers

In conclusion, Take Profit Trader presents a unique opportunity for traders to access funded accounts with minimal initial investment. The firm offers a straightforward evaluation process with specific profit targets and risk management rules. Although there is no free trial, Take Profit Trader provides flexibility with account resets.

Nevertheless, it’s always advisable to consider and compare proposals with other Prop Trading Firms. Some popular firms may offer similar conditions or may be more suitable for particular traders, providing a better choice of instruments and platforms. Nevertheless, Take Profit Trader boasts several distinct advantages. Please see our selection of alternatives below, along with a table comparing Take Profit Trader to other companies:

• FTMO — Great Swing Trading Prop Firm
• The 5ers — Good for USA Trading on Funded Accounts
• The Funded Trader — Best for Higher Account Size