Take Profit Trader Funding FAQs: Answers To Your Most Important Questions

Jeremy BiberdorfBy: Jeremy Biberdorf

March 3, 2024March 3, 2024

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In the complex world of prop trading, finding the right firm that aligns with your trading style and goals can be a difficult task. This is why I decided to write the following article, to offer an in-depth look at Take Profit Trader Funding, a key player in this industry.

Through addressing Take Profit Trader Funding FAQ, I aim to answer all your burning questions, diving into the specifics of their trading platform, understanding the profit split, and bringing clarity to what it really means to work with prop firms.

Whether you’re curious about the path to becoming one of the funded traders or just starting out, this article will provide you with the clarity needed to decide if Take Profit Trader is the right choice for your trading journey.

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Take Profit Trader Funding FAQs

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I will get into the most frequently asked questions regarding Take Profit Trader, but first, for those new to prop trading, I will cover a couple questions about the proprietary trading industry in general. Let’s hop right in.

What Are The Benefits of Prop Trading Firms?

Joining a prop trading firm brings significant advantages. It provides substantial capital, allowing for greater market leverage and enhancing potential earnings without risking personal funds. These firms offer access to advanced trading platforms and technologies, fostering professional growth by teaching valuable risk management skills.

Also, the performance-based compensation encourages traders to perform well, while offering opportunities for diversification across different markets. Overall, prop firms can be a cost-effective way for traders to develop their skills and increase their trading scope.

What Are The Drawbacks of Prop Trading Firms?

Prop trading firms present several challenges, including financial risks where traders risk losing deposits and positions due to poor performance. Daily loss limits, such as a 5% cap, restrict strategies, especially in volatile markets. Success requires advanced skills, with a single mistake potentially erasing significant gains.

The evaluation process for new traders can be stressful, and firm-specific trading platforms may not meet all traders’ needs. Strict rules reduce flexibility, while profit-sharing arrangements can diminish earnings. Also, traders face high leverage risks and have limited control over capital and payouts, all within a less regulated environment. These factors make prop trading a complex field, balancing opportunity against risk.

Is Take Profit Trader Funding Legit?

Take Profit Trader Funding is indeed legitimate, as evidenced by its “Excellent” rating on Trustpilot, where it has garnered 4.2 out of 5 stars. The firm’s credibility is further bolstered by its founder and CEO, James Sixsmith, a well-known figure in the trading industry. Sixsmith’s significant influence and innovative strategies have positioned Take Profit Trader as a trustworthy and forward-thinking proprietary trading firm.

What is The Profit Split With Take Profit Trader Funding?

Take Profit Trader Funding offers a profit split arrangement where traders retain a significant portion of their earnings. In the Pro Account, the split is 80/20, with the trader keeping 80% of the profits. Once certain criteria are met within the Pro account, traders can advance to the Pro+ Account, which features a more favorable 90/10 split, allowing traders to keep 90% of their earnings.

From the first day of funding, traders have the ability to withdraw profits. For the standard 80/20 profit split, a trader’s balance must exceed their maximum drawdown’s buffer zone to qualify for the 80% payout. In contrast, the Pro+ accounts eliminate the buffer zone requirement, enabling traders to withdraw their profits immediately from day one, with no restrictions on the withdrawal amounts.

What Are The Rules Of The Take Profit Trader Funding Evaluation?

To follow the rules set by Take Profit Trader Funding, traders need to hit their account’s specific profit targets, avoid breaking any drawdown limits for the day or overall, and trade within the allowed number of contracts. Additionally, maintaining consistent trading practices is essential.

Here’s what this looks like for different account sizes: For a $25,000 account, the goal is to make $1,500 while trading up to three contracts. If you have a $50,000 account, your target is $3,000 with a six-contract limit. With a $75,000 account, aim for $4,500 profit and don’t exceed nine contracts. If you’re managing a $100,000 account, you should reach for $6,000 profit and up to twelve contracts. Finally, for a $150,000 account, the profit target is $9,000, and you can trade up to fifteen contracts.

How Do I Sign Up For Take Profit Trader Funding?

To sign up for Take Profit Trader Funding, start by selecting your asset class (Futures or Stocks) and the capital size you want to manage, based on your experience. Register on their website, confirm your email, and log into your dashboard to set up your evaluation account.

Choose your account size and trading data feed, apply the Take Profit Trader promo code, and complete your purchase with payment details. Successfully meeting the profit and loss criteria qualifies you as a funded trader, enabling live account trading and fast withdrawals.

Is Take Profit Trader Funding Right For You?

Deciding if Take Profit Trader Funding is the right choice for you involves careful consideration of your trading style, experience, and financial goals. Prop trading platforms vary significantly, and what works for one trader might not suit another.

It’s essential to assess your comfort with the rules and profit targets set by Take Profit Trader Funding, alongside your ability to manage the risks associated with leverage and drawdown limits.

Hopefully, the insights provided in my Take Profit Trader Funding FAQs have brought clarity and helped you edge closer to a decision. If you’ve evaluated your options and feel that Take Profit Trader Funding aligns with your trading aspirations and risk tolerance, Click Here to sign up today and start your journey towards becoming a funded trader.

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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