Take Profit Trader Review 2024: A scam or revolutionary prop firm?

Jeremy Biberdorf
By: Jeremy Biberdorf
Nov 07, 2023
Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
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4.7/5

4.7 rating based on 5 ratings

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In a Nutshell: Take Profit Trader is a prop company that helps fund a trader’s trading journey, especially traders specializing in Futures. Their model is simple: they provide funding, and you use your trading skills to generate consistent profits. Their platform is user-friendly, without any hidden tricks or gimmicks, making your trading journey as smooth as possible.

Take Profit Trader’s primary goal is to help traders reach their highest potential. Their focus is not on confusing features but on helping traders make steady income using their funds.

This funding company goes beyond just providing a platform for trading. It includes comprehensive learning resources that were once paid courses but are now available free of cost. They believe in empowering traders with quality education to make informed decisions.

One unique aspect I like about Take Profit Trader is its emphasis on following simple trading rules rather than merely resetting markers. This differentiating approach helps traders develop effective strategies, making Take Profit Trader stand out among its competitors. In this Take Profit Trader Review, I will cover everything that makes this company a great funding source for futures traders.

Service TypeFees Promotion
Prop Trading FirmVariable feeSave 50% with Coupon Code MODESTMONEY

Take Profit Trader Screenshot

Pros & Cons
Pros
  • There are no minimum days required before the first withdrawal
  • The withdrawal process is instant
  • 80% profit share
  • Pro accounts get three resets
  • There's a wide choice of trading platforms
  • Good variety of future instruments
  • Only a one-time fee is required for pro accounts
  • Realistic profit targets
  • Trading competitions with prizes are held regularly
  • The customer support is of high quality
Cons
  • Trading in forex, stocks, or crypto is not available yet
  • MetaTrader platforms are not provided
  • Automated trading is not permitted
  • Holding positions overnight or during news isn't allowed
  • There's a monthly fee for evaluations
  • Free trials aren't provided

Take Profit Trader Overview

Initial Capital$25,000 – $150,000
Price Range$150 – $360
Profit Split
Daily Loss
Max Drawdown
Profit Target6%
Tradable ProductsFutures, Stocks, Forex, Crypto

What is Take Profit Trader?

Take Profit Trader is a proprietary trading firm specializing in the futures market. Its core offering is to provide funding for traders, enabling them to leverage significant capital without risking their own money. In addition to facilitating trading, the company emphasizes trader education, offering comprehensive resources and courses free of charge.

Built on a transparent model without hidden complexities, Take Profit Trader aims to foster consistent profitability among its users. Their distinct emphasis on adherence to straightforward trading rules rather than mere metrics reset positions them uniquely in the prop trading space.

The firm’s foundation is rooted in the vision of its founder, James Sixsmith, who sought to revolutionize the trading landscape by mitigating risks and enhancing trader competence.

Take Profit Trader Overview

As the financial market grows, so does the demand for prop trading firms, and Take Profit Trader has made its mark in this rapidly evolving industry. Offering a streamlined journey to sustainable profits, this company allows traders to manage significant capital while minimizing their personal financial risk.

The founder, James Sixsmith, a retired ice hockey player, and trading enthusiast, built the prop firm upon the vision of empowering traders through comprehensive education and risk mitigation. Having experienced firsthand the challenges that novice traders encounter, Sixsmith developed a platform that simplifies the trading process and offers robust support at every step of the journey.

It’s a platform that truly promotes a trading revolution by funding futures traders and bearing the brunt of any losses. You can become one of the traders benefiting from this great company if you make the move today; join through this link to get a 40% off the price today.

External Take Profit Trader Review & Ratings

SiteRating
Online Prop Trading4.7
Facebook4.7 from 47 reviews
Trustpilot4.4 from 394 reviews

I poured through many Take Profit Trader reviews, here are some informative reviews from traders who have experienced the platform firsthand:

“Take Profit Trader is a great funding company. Fast and friendly customer service, many easy evaluation systems to choose from and quick payouts on funded accounts. Highly recommend!”
“Used alot of funding programs and this one by far the best in customer service, requirements to hit numbers and most of all the time to get the money in the bank. If you are looking for an amazing company that make the experience for the traders for the traders and not give you a disadvantage these guys are ahead of other companies by far. Only thing is a slight higher account fee but that only matters if you fail alot of accounts. But if you are an experience trader and have a system you don’t have to worry about loosing your own money and get your money by the end of the first pro trading day.”

“Excellent customer service and response! Take profit trader doesn’t lag on questions with response time, their challenges so far have been straightforward and the knowledge database makes it very easy to understand the rules! Other prop firms I’ve used in the past have these EXTREMELY long rule books with hidden rules and it’s a pain.So far nothing but a great experience with TPT!”

“It is the best Prop trading firm Ever for futures Traders like myself. I recently took my first payout. They are insanely fast. It took less than 24 hours to get the money in my bank. They have excellent payout policies and rules for long-term partnerships. I highly recommend it for traders who want to play it big, especially since the Pro Plus accounts are worth it. I see myself with this firm for years to come. They have the best customer support team that I have ever worked with. They are responsive and very fast.”

Take Profit Trader has an overall rating of 4.4 out of 5 on TrustPilot. Many of the positive ratings mentioned how fast the withdrawals were and the ease of use. As for negative reviews, every prop trading firm has some, including Take Profit Trader.

Many of the negative reviewers mentioned they were not happy with the 50 transaction per day limit on funded accounts. Take Profit Trader customer support always replies to negative as well as positive reviews with tact. They were clear to point out that all information about trading rules is included in their website’s knowledge base.

If you want to dig deeper, you can check out the Take Profit Trader Reddit reviews. I dug through them myself, and they somewhat mirror what reviewers from TrustPilot say. I have to mention, the Take Profit Trader Reddit reviews are not from certified users, so not all of them will be genuine.

How It Works

The system in place at Take Profit Trader is straightforward, which I find very reassuring. First, traders select their preferred asset class and the size of the capital they will manage, which is based on their skills and experiences. Currently, the available asset class is futures markets. However, stocks, forex, and crypto are expected to be available soon.

Next, traders prove their competence by hitting a profit target while adhering to a set of risk rules. Once the skills are verified, the trader becomes a funded trader, free to start earning real money. Importantly, there is no downtime in this process, ensuring immediate engagement with the markets.

Withdrawal of earnings is simplified as well. Traders retain 80% of their profits, with the company sending profits directly to the trader’s designated account. Furthermore, Take Profit Trader offers the opportunity to elevate the trading experience by upgrading to PRO+, which among other benefits, removes the daily loss limit and raises the profit split to 90/10.

Tools and Supports

To streamline the trading journey, Take Profit Trader takes care of technology and account setup, freeing traders from often tedious administrative tasks. To prevent indiscipline, which often haunts traders, the company has designed a risk management system to maintain order during trades.

For traders looking for community and continuous learning, the private Discord channel is a great resource. Here, traders can connect with peers and access free education from the company’s head traders. Plus, Take Profit Trader’s risk of ruin system means the company absorbs the losses on Pro Accounts, safeguarding the trader’s personal funds.

Account Size and Pricing

This section will be modified as Take Profit Trader expands its reach into additional asset classes. At present, the company offers a range of account sizes that align with standard practices seen within other futures trading fund programs:

The subscription cost ranges from $150 to $360 per month, depending on the account size, which can be as low as $25K and as high as $150K. The pro account resets up to 3 times and comes with a one-time fee without the need for recurring monthly payments.

  • $25,000 accounts are available for $150
  • $50,000 accounts are offered for $170
  • $75,000 accounts can be procured for $245
  • $100,000 accounts are obtainable at a price of $330
  • $150,000 accounts are offered for $360

Upon ascending to the status of a Pro Trader, your recurring monthly charges are eliminated. That’s correct, all you need to do is cover a singular setup fee of $130, and your account is prepared.

Earnings Objective

Each account size at Take Profit Trader comes with a distinct profit target. These targets are pragmatic and align with the standard set by most prop firms.

Below is a breakdown of the profit target for each account size:

Account Size in Futures Max Contracts and Profit Target:

$25,000 3 Contracts, Profit Target $1,500

$50,000 6 Contracts, Profit Target $3,000

$75,000 9 Contracts, Profit Target $4,500

$100,000 12 Contracts, Profit Target $6,000

$150,000 15 Contracts, Profit Target $9,000

Profit Sharing

The profit-sharing structure at Take Profit Trader is designed to primarily benefit the trader. It follows an 80/20 split, where a whopping 80% of all profits made by the trader are kept by them, ensuring they reap the lion’s share of their hard-earned results. On the other side of this partnership, the company retains only a minor fraction, a mere 20%, serving as a testament to their commitment to empowering their traders and placing their interests at the forefront.

Trading Platform

Take Profit Trader offers the versatility of more than 30 different platforms, opening a world of trading options for you. As for data feeds, Take Profit Trader typically suggests the use of CQG Data Feed rather than Rithmic Data Feed. Let’s explore the unique platforms compatible with these individual data feeds.

For CQG Data Feed:

  • NinjaTrader
  • TradingView
  • Tradovate

For Rithmic Data Feed:

  • R-Trader
  • Quantower
  • Motivewave
  • Bookmap
  • Agena
  • Sierra Chart Trading and Charting
  • Multi Charts
  • Jigsaw Trading
  • Order Flow Trading
  • eSignal
  • Investor RT
  • Trade Navigator
  • net
  • Photon Trader
  • OScalp
  • Atas

These platforms provide the versatility needed to align with diverse styles and trading strategies to help produce successful traders.

Setting Up CQG Data Feed

Before you begin working with the CQG Data Feed, there are a few steps you need to follow. Firstly, you’ll need to log into Tradovate to sign off on the market data agreements. You’ll find your Tradovate login details inside the Take Profit Trader platform once you’ve signed up for a trial account.

It’s important to note that when you log into Tradovate for the first time to sign the agreement, you’ll be given a choice to select either a Professional or a Non-professional account. To avoid any complications, make sure you choose a Non-professional account.

Once you’ve completed your sign-up, you can start using charting software like NinjaTrader, TradingView, or Tradovate. Your live market data feed should be up and running in no more than five minutes.

Outstanding Customer Support

I love a company that dedicates the resources to ensure a good customer experience and Take Profit Trader shines brightly when it comes to amazing customer service. They work tirelessly, day and night, to ensure traders receive the assistance they require without delay. Whether you’ve hit a snag or simply need clarification on something, the Take Profit Trader support team is always ready to jump in and help. This dedication to customer service shows their commitment to ensuring a smooth and enjoyable trading experience for all their users.

User Reviews of Take Profit Trader

Many users have lauded Take Profit Trader for its remarkable services, ranging from excellent customer service to an efficient payout system. The company’s Trustpilot profile speaks volumes, boasting a notable collection of 362 reviews. The overall feedback paints a positive picture, with a remarkable rating of 4.4 out of 5 stars, indicating the company’s impressive services.

A vast majority of these testimonials reflect the highest rating possible, underscoring the satisfaction and trust among their user base. While a small fraction of these reviews bear the lowest rating, Take Profit Trader showcases a strong commitment to client concerns. The firm routinely addresses these less-than-favorable reviews within a few days, indicating their earnest desire for continuous service enhancement and customer satisfaction. This effort has led to the resolution of nearly all adverse feedback received, displaying their consistent dedication to client contentment.

Take Profit Trader Alternatives

If after reading this far in my Apex Trader Funding review you still aren’t convinced, it’s okay, there are other options out there. One popular prop trading firm is Apex Trader Funding. Apex Trader Funding is best known for their one-step evaluation process and simple, easy to follow rules. You can read my Apex Trader Funding review to see if it is right for you.

Another option for those seeking a reliable partner is City Traders Imperium.  They are well regarded for having excellent customer service and an active and supportive trading community. They also offer a plethora of educational materials to help put their traders in the best position to succeed. I wrote a City Traders Imperium review you can consider checking out if you want to see how it stacks up to Take Profit Trader.

The Verdict

With its focus on trader empowerment, Take Profit Trader provides an impressive platform for new and experienced traders. Its transparent model, coupled with robust education and support systems, are key highlights. While it currently only supports futures trading and lacks automated trading or the ability to hold positions overnight, the company’s continuous development and commitment to free quality education show promise.

On the downside, the absence of forex, stocks, or crypto, the non-availability of MetaTrader platforms, and the imposition of a monthly evaluation fee may deter some traders. However, the overall offering is robust and tailored towards sustainable trading.

So it’s right that Take Profit Trader can be a valuable partner for traders seeking to maximize profits while mitigating risks. While it could be a better fit for everyone, I believe its focus on education, community, and risk management makes it a strong contender in the prop trading firm arena.

Ready to take your trading game to the next level? Take advantage of the opportunities; explore Take Profit Trader today and discover how it can be the trading partner you’ve been looking for!

Save 50% with Coupon Code MODESTMONEY

Frequently Asked Questions

To start your journey with Take Profit Trader, click the link provided in this article which will direct you to their official website. Here’s a step-by-step guide on how to proceed:

  • Begin by registering on their homepage. Simply fill in your details to complete the registration process.
  • Check your inbox for a confirmation email which includes a link to verify your account.
  • After confirming your email, you can log in to your user dashboard.
  • Inside your dashboard, you’ll find a ‘Create New’ button. Click this to start setting up your evaluation account.
  • You’ll then be given the option to select your preferred account size.
  • Next, choose the data feed that suits your trading preferences.
  • You will then be prompted to enter a promo code if you have one, and select your preferred payment method.
  • Finally, enter your payment details to finalize the purchase of your account.

And just like that, you’re all set to begin trading with Take Profit Trader!

The live chat option on their website is operational from Monday to Friday, between 6 AM and 4:30 PM Eastern Standard Time (EST). If you wish to communicate with them outside of these hours, you’re welcome to leave a message in the chat box. You can expect an email response from them within a few hours.

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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