It has gained popularity among traders of futures since then. Who Tried Take Profit Trader offers accounts ranging between $25,000 and $150,000. Its unique features and competitive profits sharing start at 80/20, and can be upgraded up to 90/10 after $5,000 of profits are achieved.
The TPT offers traders the ability to trade micro contracts for free, allowing them to start with smaller positions. The company also has a fast payout policy. Transfers are usually processed within 1-2 days and certain traders can even request payouts the same day, depending on conditions. TPT also offers a rewards program where traders can earn points by completing certain activities. These points can then be used to reset accounts or get new evaluations.
The absence of trailing withdrawals on the evaluation accounts makes it easier for traders and investors to pass evaluations. TPT allows traders to manage multiple strategies and portfolios with up to five funded account. There is also no consistency requirement for funded accounts. This allows traders to benefit from good trading days, without being restricted by the need for consistent results.
There are also some disadvantages. While the firm does apply a ‘trailing drawdown’ on evaluation accounts it does so on funded accounts. The firm has a five-day evaluation period, which may be too long for some traders compared with firms that have shorter evaluation periods. The consistency rule is also applied during the evaluation phase. This limits the daily profit a trader may make when testing their skills.
TPT also imposes news trading restrictions that can be an issue for traders who like to trade around important economic announcements. The fees for activation and evaluation are high, and some traders find them to be.
Take Profit Trader is a good choice for traders who want a flexible, cost-effective prop firm with an efficient payout system and the ability to withdraw profits early. It’s a good choice for traders who are looking for an affordable prop firm that offers a flexible payout system, and allows them to withdraw their profits early. To succeed, traders must be aware of the risk management rules and evaluation process.
