UProfit Review

1. What is UProfit?
2. UProfit Pros Cons
3. Is UProfit Legit?
4. UProfit Challenge
5. Funded Account
6. Account Conditions
7. Payout
8. UProfit 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 is the challenge you have to pass to become Funded Trader to give an expert opinion on Uprofit and its reliability

What is UProfit?

UProfit is a famous Prop Trading Platform offering its traders access to Real Trading with the firm’s funds by providing a Funded Account. The company funds traders to trade Futures coming from the CME, NYMEX, COMEX, and CBOT. UProfit has gained recognition for its straightforward evaluation process, competitive profit splits, and its ability to cater to a diverse range of trading styles and strategies.

Uprofit offers traders a chance to trade with company’s funds after passing a Challenge Test and gain access to their Live Account. However, it’s important to be aware of the inherent risks involved in this type of trading, and potential traders should carefully consider these before starting. Read more about Prop Trading

Is UProfit Legit?

UProfit is a prop trading firm based in the USA operating corresponding to country’s strict regulatory standards although is not actually licensed and regulated by any regulatory entity. However, the company bolsters its popularity and gained highly praised reviews from its customers worldwide, hence we consider it legitimate.

• It’s important to note that UProfit, as a proprietary trading firm, operates differently from a Forex broker and is not subject to regulation by financial authorities. This means the level of safety typically associated with regulated financial institutions may not be present. In proprietary trading, the firm itself provides the trading funds, which adds a layer of complexity regarding the assurance of safety and oversight.

Is UProfit Scam?

Our review of UProfit’s website revealed no indications of it being a scam. Nonetheless, it’s important to be cautious, as proprietary trading firms like UProfit aren’t regulated, making it more challenging to definitively assess their legitimacy.

Our professional advice is to thoroughly educate yourself about Prop Trading and its associated risks, and to opt for a company with a solid reputation and a long operational history for greater stability. However, since your financial exposure is typically limited to subscription fees rather than substantial capital investment, the potential financial risks are generally lower compared to real trading with your own funds.

Uprofit Challenge Evaluation Rules

Our review of UProfit delves into their evaluation challenge, examining the prerequisites for a Funded Trading Account. We explore what tests traders must pass and assess the associated registration fees. This analysis aims to provide clarity on the process and financial commitments for those considering a career as a Proprietary Trader.

• The main goal of the Challange Evaluation is to identify whether the trader is eligible to trade using company’s funds, only well-skilled traders are allowed to trade on UProfit platform. As to Evaluation process, UProfit offers an easy 1-step challenge with multiple account sizes to choose from. Once successfully passing the evaluation, traders are given Live Account credentials and are all set up to start trading.

Account Balance and Registration Fee

When registering on the UProfit prop trading platform, traders must choose an account type that aligns with their desired starting balance, noting that the terms vary slightly for each account size. Before gaining access to a Live Account, traders are required to pay a monthly subscription fee. It is important to be aware that UProfit does not offer refunds as all sales are considered final.

Profit Target

To prove your trading eligibility, UProfit Challenge requires you to follow a few objectives one of which is to reach the Profit Target, which varies based on the evaluation program and the account size you choose. At UProfit profit target is based on your account size which is 5%, 6%, and 10%.

Maximum Loss

Another key goal for traders is to ensure they do not exceed the Maximum Daily Loss, which, according to our findings, is set at approximately 2% for all account types by UProfit. Regarding the Maximum Overall Loss, UProfit does not explicitly state a specific figure. This figure is typically inferred from the daily loss limits and the drawdown rules associated with each account type.

• Important to note that all objectives must be met to get access to Live Trading Account, otherwise the test will be canceled and traders will have to reset it.

Minimum Trading Period

At UProfit, an essential rule is to engage in trading for a minimum of 5 days, demonstrating your trading proficiency to qualify as a Funded Trader. There are no maximum trading days at UProfit and traders’ monthly subscriptions will remain active until they upgrade to Active Account or cancel it.

See the detailed table with UProfit challenge conditions based on Account Size:

UProfit Evaluation Program

Free Trial

Based on our research, UProfit does not provide a Free Trial, as the evaluation process itself serves as a test phase. This is a common practice among many Prop Trading Firms, where free trials are typically not offered.

UProfit Trader Funded Account

After completing the test or challenge, traders receive their Funded Account, which is usually activated within a few business days. It’s important to note that the account’s conditions and balance will match those of the test level you qualified for. If you wish to upgrade to a higher-grade account, you’ll need to undergo the testing process again, starting from scratch, for the specific Account Balance you aim to trade with.

Profit Split

At UProfit, traders have the advantage of keeping 100% of their initial profits, with a subsequent shift to an 80% profit rate for the trader. However, based on our research, UProfit does have a scaling plan.

Payout and Withdrawals

Our research indicates that UProfit offers various convenient payment methods for their challenges, without incurring additional processing fees. Additionally, UProfit payouts are quite fast. The company claims to process payouts within 24 hours, and traders are eligible to request them from the first day of trading. Note that the minimum amount to request a payout is $100.

Withdrawal Method

There are various convenient methods offered by Uprofit Prop Trading Firm once you wish to withdraw funds from your Funded Account. Those Methods include Visa/MasterCard, Paypal, Cryptocurrencies, or PayRetaleirs for LATARM.

Account Conditions

When choosing a broker, it’s important to review account types, available trading platforms, instruments, and associated costs. Leverage levels and specific trading conditions should also be considered, as non-compliance can lead to account loss and the need for re-evaluation.

Trading Instruments

UProfit distinguishes itself by offering trading in Futures Instruments from well-known exchanges like CME, NYMEX, COMEX, and CBOT. This range of futures options is a significant benefit, as not many proprietary firms provide futures trading. However, the absence of alternative markets in their offerings could be seen as a drawback for traders seeking a broader spectrum of trading opportunities.

UProfit Commission

UProfit doesn’t specify any commissions for trading futures. However, it does detail per-contract pricing, which includes $5 for each E-Mini contract (split as $2.5 for entry and $2.5 for exit) and $1 for each Micro E-Mini contract (divided as $0.5 for entry and $0.5 for exit).

Leverage

Our research indicates that UProfit does not provide leverage; instead, the account balance itself serves as the buying power for traders.

UProfit App Platform

At UProfit, traders are given a selection of trading platforms such as NinjaTrader, RTrader, and RTrader Pro, also company allows trading with other platforms as long as they support RTrader data. Unfortunately, we couldn’t find industry-standard MetaTrader platforms among the UProfit platform offerings.

Trading Conditions

We examine various specific rules and conditions related to the trading conditions offered, including limitations and available strategies, as well as factors like slippage. However, for detailed and current information on these aspects, it’s advisable to consult the firm.

• Based on our research, UProfit doesn’t mention anything against using of EAs, Algos, or Bots, as well as doesn’t mention any strategy limitations.
• Slippage is a factor in trading with UProfit, particularly in futures trading. This refers to the discrepancy between the expected price of a trade and the actual execution price, often occurring in conditions of low market liquidity.

UProfit Promotions

Based on our research, UProfit offers various promotions throughout the year with available UProfit Coupons, as well as offers UProfit discounts from time to time. However, the promotions are usually provided for a limited period, and is good to check the availability upon signing in.

UProfit Alternative Brokers

Taking into account all the findings we researched about UProfit, we concluded that the Firm is quite an attractive firm for Futures traders, the firm offers an easy-to-use 1-step evaluation program with good cost and favorable conditions. This simplicity and the advantageous terms make UProfit an attractive option in the trading landscape, especially for those focusing on futures markets.

While UProfit is appealing for its straightforward futures trading program, it’s important to compare it with other proprietary trading firms. Notably, UProfit exclusively offers futures trading and does not support MetaTrader platforms. Additionally, unlike some major firms, UProfit does not provide a fee refund. Given these factors, traders might benefit from exploring alternative companies to find one that aligns more closely with their specific trading preferences and requirements.

• Fidelcrest — Good Range of Trading Instruments
• FundedNext — Good for Swap-free Trading
• E8 Funding — Good Option for Trading with MetaTrader Platforms