Elite Trader Funding Review 2024

Elite Trader Funding Overview

What is Elite Trader Funding?

Elite Trader Funding is a platform where traders showcase their proficiency in simulated settings. If they excel, they get the opportunity to trade in live markets with the company’s capital. This unique model follows a prop firm structure, meaning the company funds traders and, in return, shares a cut of their profits.

Traders appreciate the system’s flexibility. Unlike other platforms I’ve experienced with rigid guidelines, Elite Trader Funding prioritizes skill and profitability. Traders can choose their working hours, ensuring they’re active during their preferred times, be it holidays or vital market shifts.

Wonder what a day in the life of a prop trader is like? Click here to find out.

External Elite Trader Funding Reviews & Ratings

Site	Rating
Trustpilot
Onlineproptrading	4.7

Firsthand User Experience with Elite Trader Funding

Here are some reviews I would like to highlight, from traders who have experienced the platform firsthand:

Elite Trader Funding Customer Review Analysis

Elite Trader Funding’s overall 4.6 out of 5 star rating on TrustPilot is quite good compared to many of its competitors. The majority of the positive Elite Trader Funding reviews point out how amazing their customer support team is. They also frequently mention how quick and hassle-free the payout process is.

The negative reviews were mostly made by disgruntled traders that had their accounts banned for rules violations. The Elite Trader Funding customer support team kindly replied to all of these accusations by pointing out that all rules are clearly defined, as well providing links to their terms of service page.

If you want to dig further into their online ratings, you can look at the Elite Trader Funding Reddit reviews. Personally, I was unable to gain much insight from the Reddit reviews, as there were not any consistent themes.

How Elite Trader Funding Works

Elite Trader Funding provides a diverse array of evaluation types to cater to the varying needs and strategies of traders, with account sizes ranging from $10K to $300K. Each evaluation type is tailored with specific conditions such as initial balance, maximum trading days, profit target, and drawdown limits, allowing traders to select the option that best aligns with their trading style.

In addition to the standard evaluations, Elite Trader Funding has introduced Fast Track Evaluations, designed for traders confident in their ability to quickly meet profit targets. These evaluations offer a more expedited path to funding, with specific trading day requirements and no reset options, catering to those looking for a faster evaluation process​​​​.

Furthermore, Static Drawdown Evaluations present an alternative for traders who prefer a more stable drawdown limit. With no trailing drawdown and a fixed minimum balance requirement, these evaluations provide a consistent and predictable trading environment, appealing to traders who value stability in their evaluation criteria​​​​.

One of the most compelling aspects of Elite Trader Funding’s model is the generous profit split arrangement. Traders retain 100% of their first $12,500 in profits, and beyond that, they receive 90% of additional earnings, offering a significant incentive for successful trading​​. Additionally, the platform facilitates an optional evaluation reset for a fee, allowing traders a chance to restart their evaluation should they encounter the maximum drawdown limit.

Elite Trader Funding’s inclusive approach, with multiple evaluation options and flexible conditions, supports traders at various stages of their career, from novices seeking to build experience to seasoned professionals aiming to leverage larger account sizes for greater profits.

Who is Elite Trader Funding Best For?

Elite Trader Funding appeals to a broad range of traders, both novice and experienced. Here are the types of traders I think will benefit the most from Elite Trader Funding:

• Novice Traders: These individuals can utilize Elite Trader Funding as a stepping stone to gain practical trading experience without risking personal funds. They can also improve their trading skills by managing multiple accounts under one login.
• Experienced Traders: These traders might find Elite Trader Funding appealing for its high profit split ratio and the ability to leverage larger account sizes.
• Flexible Traders: Traders who prefer not to be tied down to a specific trading schedule will appreciate Elite Trader Funding’s flexibility in allowing trading during chosen hours.
• Swing and Day Traders: Elite Trader Funding’s prop trading model is particularly suitable for these types of traders who can take advantage of the daily volatility in financial markets.

Elite Trader Funding

Several key features distinguish Elite Trader Funding from other trading platforms and prop firms. Here are the ones I find most beneficial:

Trader-Centric Approach

Elite Trader Funding is geared towards the trader’s success. They provide retail traders with a platform to showcase their trading skills and access to capital if they perform well. The prop firm model enables traders to earn a significant portion of the profits, thus aligning the interests of the company with those of the traders.

Evaluation Types

Elite Trader Funding offers various evaluation types based on different account sizes. Each evaluation type has unique parameters like profit targets and drawdown limits. This flexibility allows traders to choose an evaluation that best matches their trading style and risk tolerance.

Profit Split

Elite Trader Funding offers an attractive profit split to its traders. After the first $12,500 in profits, traders keep 80% of all profits. This split is favorable compared to the industry average, making it an enticing option for successful traders.

Flexible Trading Conditions

Elite Trader Funding offers one of the most flexible trading conditions available. Traders can trade at their preferred times, including during news events, thus accommodating a variety of trading styles.

Transparency and Trust in Elite Trader Funding

In the realm of prop trading, transparency and trust are key elements, and it’s here where I feel that Elite Trader Funding truly excels.

• Transparent Evaluation Process: Elite Trader Funding’s evaluation process is straightforward and transparent. Every aspect, from drawdown rules to profit targets, is clearly defined and explained. The two types of evaluations – 1-Step Evaluations and 2-Step Evaluations – are outlined with clarity, ensuring traders understand what is expected of them to qualify for a funded account.

The detailed Risk Disclosure document provided by Elite Trader Funding adds another layer of transparency, enabling traders to understand the potential risks and rewards of their trading activities.

• Trust in Trading: Trust is integral to the trader-prop firm relationship. Elite Trader Funding’s transparency extends to their profit split and payout structure, a feature that has won the trust of many traders. Traders are reassured knowing exactly what they can expect in terms of earnings, and when and how these earnings will be paid out.
• Addressing Technical Issues: The reliability of trading platforms is a critical concern for traders. In this regard, Elite Trader Funding is proactive in addressing technical issues that may affect trading activities. Their customer support team is on standby to resolve technical glitches swiftly, ensuring minimal disruption to trading activities.
• Transparent Reviews: In a world where user reviews play a critical role in shaping reputation and trust, Elite Trader Funding remains open to feedback and criticism. While there are a few negative reviews, as is typical for any service, the firm does not shy away from them. Instead, they engage with the comments and use them as an opportunity to improve their services.

Elite Trader Funding’s transparency in their operations and commitment to fostering trust among traders differentiates them from many other prop firms in the market. Their open and clear policies coupled with their willingness to engage with their users builds a robust, trusting relationship with their traders.

It’s an attribute that not only speaks to their professionalism but also adds a layer of reassurance for traders considering their services.

Negative Reviews and Critiques

While Elite Trader Funding has been praised for its trader-friendly model, some critiques have been noted. These primarily revolve around the platform’s daily loss limit and maximum drawdown rules. Some traders find these rules challenging, particularly those who are new to trading.

However, understanding these rules is crucial as they form an integral part of risk management in trading.

Recent Performance And Updates

In 2022, Elite Trader Funding had a successful year. Over 1,700 traders qualified more than 5,200 accounts, generating profits of over $1,750,000. They paid traders $630,000 and affiliates received over $300,000. The company also introduced three new evaluation types and managed over 20,000 support tickets. Their Discord Community grew to 2,500 traders and distributed more than $1 million in discounts and giveaways.

In 2023, the following changes were made:

• Trading during major economic events will be restricted in Elite accounts.
• The 30% rule will be increased to 40%.
• The payout schedule will be shortened by a month.
• A LIVE Elite account will be available for consistently profitable traders, offering a 90/10 split. This account won’t have the 40% rule and will be free from news trading restrictions.
• A new trader dashboard will provide detailed statistics, rule tracking, and self-service options.
• Integration with Ninjatrader and Tradovate will be available, allowing traders to access accounts on both platforms with the same credentials.
• Cash prize competitions will be introduced.
• The affiliate center will be enhanced with better tracking, payout options, and promotional tools.

UPDATE*** The newest improvement, by Elite Trader Funding, effective 9/5/23, allows traders to make multiple withdrawals in the same month. Many other prop firms I have reviewed only allow 1 withdraw per month.

Customer Support and User Experience

Elite Trader Funding makes a significant investment in the quality of their customer support and user experience. This commitment is evident in the various support channels available to traders and the overall smoothness of the platform’s interface.

Customer Support

Elite Trader Funding offers customer support via email and a dedicated FAQ section on their website. This approach ensures that traders have a reference point for the most common queries and a direct line of communication for more complex or unique issues. The customer support team is known for its timely and professional responses, which play a crucial role in alleviating trader anxieties and resolving technical difficulties. The most common comments, in the Elite Trader Funding reviews, is how fantastic the customer support team has been.

User Experience

User experience is another area where Elite Trader Funding shines. The platform is designed to be user-friendly and intuitive, enabling traders of all experience levels to navigate the system with ease.

Key features such as real-time account monitoring and performance tracking are easily accessible, giving traders essential insights into their trading activity. Moreover, the platform is designed to support multiple trading accounts under one login, simplifying the management process for traders who prefer to diversify their trading strategies.

Furthermore, Elite Trader Funding has taken steps to educate traders by providing comprehensive trading resources. Their learning resources include webinars, articles, and videos covering various aspects of trading, including risk management, trading strategies, and market analysis.

To sum up, Elite Trader Funding’s commitment to customer support and an excellent user experience contributes significantly to its standing as a leading prop trading firm. They understand that a satisfied trader is not just about profitability but also about a seamless and enjoyable trading experience. This dual focus on service and performance further strengthens their appeal to traders worldwide.

Tips for Success with Elite Trader Funding

If you’re considering Elite Trader Funding as a prop firm to enhance your trading skills, here are some tips I believe will guide your journey toward success:

• Understand the Evaluation Process: Make sure you understand the evaluation process and its requirements before starting your trading journey. This includes understanding the key on eval (profit target, drawdown limits, trading days, and daily loss limit).
• Choose an Evaluation Type That Suits Your Style: Elite Trader Funding offers two types of evaluations: 1-Step and 2-Step. Select an evaluation type that best aligns with your trading style and goals. 1-Step Evaluations can be a good choice for experienced traders confident in reaching profit targets faster, while 2-Step Evaluations might suit those who prefer a more cautious approach.
• Understand the Trading Rules: Be aware of the trading rules, particularly those related to drawdown limits (day drawdown and maximum drawdown). Also, familiarize yourself with rules regarding trading during news events and other specific market conditions.
• Develop a Solid Trading Strategy: Whether you’re into day trading or forex trading, it’s crucial to have a well-developed strategy. Elite Trader Funding allows various trading styles, so develop a strategy that fits within their parameters and aligns with your trading skills and experience.
• Manage Risk Effectively: Keep in mind the firm’s drawdown rules to manage your risk effectively. Staying within the daily loss limit and not exceeding the maximum drawdown limit is crucial to maintain your trading account.
• Stay Disciplined: Remember, becoming a successful trader takes time. Stay disciplined, patient, and consistent with your strategy. Don’t be tempted to take larger risks in an attempt to reach your profit target faster.
• Use Their Support: Don’t hesitate to use their support team when needed. Whether you have technical issues or queries about the evaluation process, their team is there to help.
• Continuous Learning: Always strive to learn and improve your trading skills. Trading is an ever-evolving field, and staying updated with market trends and trading strategies can significantly increase your chances of success with Elite Trader Funding.

Remember, all trading involves risk, and it’s important to make financial decisions that align with your risk tolerance and financial goals. With discipline, knowledge, and the right approach, you can maximize your potential for success with Elite Trader Funding.

The Evaluation Process In-Depth

Elite Trader Funding offers a varied range of programs tailored to different trader profiles. The 1 Step Evaluation (also known as the 1-Step Challenge) provides a clear 1:1 profit to drawdown ratio. Starting with a $25,000 account, traders have a $1,500 profit goal without breaching a similar drawdown. More ambitious participants can tackle up to $75,000 in drawdown with the option to handle 300 futures contracts from the outset. This evaluation is equipped with real-time data, an included NinjaTrader license, and mobile trading via Tradingview and Tradovate, coupled with a $75 reset option.

For those with a bold trading style, the Fast Track Evaluation is the way to go. It’s economical, has a 14-day limit for 10 trading days, and excludes resets. Once funded, two months of free live data is an added perk. The top-tier Fast Track offers a notable $6,500 drawdown for an upfront fee of just $150.

The Static Drawdown Evaluation (or Static Drawdown Challenge) is tailored for traders who prefer consistency. With a solid $100k initial balance, a $2,000 profit aim, and a $625 max drawdown, it eliminates the worry of trailing drawdowns. It’s compatible with both NinjaTrader and mobile platforms.

Lastly, the Diamond Hands challenge is ideal for swing traders or those desiring extended trade durations. This exclusive challenge is for a $100,000 account. With trading rules set at a 1.5% daily loss limit, a 3.5% end-of-day trailing drawdown, and a 5% profit target, it’s designed for those who take a long-haul approach to their trades.

Elite Trader Funding Costs & Fees

Elite Trader Funding has tailored a variety of evaluation programs to suit different trading styles and preferences, each with distinct pricing structures. Here’s a breakdown of the current offerings:

Evaluation Options

Traders have a wide range of evaluations to choose from, catering to accounts from $25K to $300K. The fees for these evaluations begin at $80 for the 25K account and extend up to $515 for the 300K account, ensuring options for traders at various levels of experience and capital requirements​​.

Fast Track and EOD Evaluations

Besides the standard evaluations, Elite Trader Funding introduces Fast Track Evaluations for traders aiming for a quicker route to funding, with specific conditions such as profit targets and no option for resets. The End Of Day (EOD) Drawdown Evaluations offer a different evaluation structure with daily loss limits and total loss limits, providing an alternative approach to the standard trailing drawdown evaluations​​.

Profit Sharing Model

A significant update in the profit-sharing model now allows traders to keep 100% of their first $12,500 in profits. Beyond this threshold, a generous 90% profit split is applied to additional earnings, offering traders a substantial share of their success. This updated model emphasizes Elite Trader Funding’s commitment to rewarding trader proficiency and success​​.

Free Trial Offer

For those new to Elite Trader Funding, a 14-day free trial with a 250K Fast Track account is available. This trial offers an excellent opportunity for traders to familiarize themselves with the platform’s features and trading conditions without any initial financial commitment​​.

Platforms Supported By Elite Trader Funding

Elite Trader Funding provides every account with free real-time data and a complimentary NinjaTrader license. The platform supports multiple trading tools, including NinjaTrader, Tradovate, Rithmic, and TradingView. This offers traders a range of options to efficiently execute their trades.

Elite Trader Funding Trading Hours

All trades should be closed one minute before the market closes. Note that different instruments may have varying closing times, and on holidays, these times might change. However, if you’re using the Diamond Hands account, there’s no restriction; you can hold trades overnight or longer. For any inquiries, the prop firm’s business hours are 8:00 to 16:00 Central Time Zone (CST). Both clients and non-clients can contact technical support during these hours.

Elite Trader Funding Competitors

With the explosive growth in the prop trading industry over the past few years, it’s no wonder new companies are continually emerging. One notable Elite Trader Funding competitor is Topstep. Topstep is known for its affordable evaluation costs, as well as providing dedicated performance coaches for its traders. If you want to see how they stack up, this Topstep vs Elite Trader Funding article is a good place to start.

Apex Trader Funding is also a major player in the prop trading world. Apex Trader Funding is best known for allowing a wide range of trading strategies and simple, easy to follow rules. My Apex Trader Funding review will give you everything you need to know in order to decide if it is right for you.

Elite Trader Funding Review – Final Thoughts

Elite Trader Funding is setting the bar high in the world of prop trading. Its trader-centric model, attractive profit split, and flexible trading conditions make it a platform worth considering for those looking to showcase their trading skills. (Click here for our list of Best Funded Forex Trading Accounts)

Whether you are a novice trader looking to gain practical experience or an experienced trader looking to leverage larger account sizes, Elite Trader Funding offers a platform tailored to your needs.

While trading involves risks, Elite Trader Funding aims to mitigate these risks through its stringent drawdown rules and risk disclosure. Its trial period also allows potential traders to familiarize themselves with the platform’s operations before committing financially.

My verdict in this Elite Trader Funding Review is that it’s an innovative platform for traders looking to elevate their trading journey. With its trader-friendly model and profit-oriented structure, it stands as a leader among prop trading firms.

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