We evaluate TradersWithEdge to find out how well it competes with the products that are now dominating the prop trading market.
WHAT IS TRADERS WITH EDGE ?
Let’s hear it from them directly; here is what we found upon researching their website
Traders With Edge is a proprietary trading firm that educates and funds traders who want to quit their day job and trade full-time, or who are already trading full-time and want to increase their income by trading a larger account.
Our mission is to fund at least 25,000 traders by the end of 2025, changing the lives of many in the process.
We plan on doing this by providing the education, support and funding that will enable traders around the world to reach their full potential, and live life on their own terms.
We are based in the US and Hong Kong, with a board of directors that have a track record in starting and growing successful companies globally.
Traders With Edge is backed by a number of large private equity companies who provide the funding for our successful traders.
Overview Of Traders with edge Reviews
The traders at Traders With Edge, who do prop trading, are Making Shock waves in the market because of their trading freedom. also you are able to trade a wide range of financial assets. To get you to where you want to be, you’ll have to take two or one assessment according to the plans. Once you pass the assessment, you’ll be provided with funded account.
You get to keep most of what you make and may keep doing what you’re doing, as long as you don’t make any critical mistakes.
The company, with offices in New York and Hong Kong, provides funding to experienced traders who retain 80% of their profits. By 2025, the company hopes to have onboard million traders.
Traders with edge Stages |Traders with edgeFees
There are 3 types of accounts available, namely Turtle, Hare, Instant. Let’s start with the Turtle account first.
There is a wide selection of starting trading capital amounts available through the Turtle Account, ranging from $5,000 to $200,000. Phase 1 challenges for $5,000 accounts have an entry fee of just $55. If you want a trading account of $200,000, then the entry fee is $1,500.
Your turtle account will give you 365 days of trading periods, you can keep your trades open even on weekends, and there is a daily stop loss of 2.5% and a maximum stop loss of 5%. After passing phase 1 of the program, you can trade on a live account with no targets and receive payouts every two weeks. know more about their plans here.
With the Hare account, you can choose either aggressive or normal trading modes, similar to those offered by various fund-raising firms.
To achieve the funded account, you must pass two stages. The first stage features a 10% profit target, the second stage features a 5% profit target, and the live account features no profit target. You must complete each stage of the challenge within 60 days, with a minimum trading period of five days. know more about their plans here.
The Traders With Edge platform gives you the opportunity to instantly get 20 times more capital without any test period or challenge. However, it will cost you $1000 to get $20 000 starting capital in this case.
The profit target to reach the next stage of the Instant Standard Account is 10%. Traders are free to make withdrawals from their account which will not affect their profit target to scale.
For example, if you make 6%, make a 6% withdrawal from your account and then make another 4% profit, you are still eligible to scale to the next level.
The profit target to reach the next level of the Instant Aggressive Account is 20%. Traders are free to make withdrawals from their account which will not affect their profit target to scale.
For example, if you make 12%, make a 12% withdrawal from your account and then make another 8% profit, you are still eligible to scale to the next level. know more about their plans here.
Why Traders with edge?
This may be the million dollar question and I am not certain I can provide you with a satisfactory answer, but I will do my best.
The most important and distinguishing characteristic of Trader with Edge is its ability to customize the trade rules. For example, if we do not want a daily stop-loss or a maximum stop-loss, we can waive it off by paying an additional fee.
A majority of the time, we must wait until the end of the month to make a withdrawal, however, with traders with edge, we can make withdrawals every two weeks, and also the company has its own mobile app available for Android and iOS users, which makes their community of traders even more valuable.
This is valid for any challenges that you purchase (Turtle, Hair, and Instant funding challenges) by using the following options (price may apply and will depend on the package price).
Increase Max Loss to 7.5% ($11.00)
Increase Profit Split to 90% ($11.00)
Remove Daily Loss Limit ($11.00)
Double Leverage ($11.00)
Remove Required Stop Loss ($11.00)
Change Trailing Max Loss To Static ($11.00)
Leverage: 1:6 Normal risk, 1:30 Aggressive
Regulation: No regulations (Since they are not broker’s)
Account size: 2.5k, 5k, 10k, 25k, 50k, 100k, 200k
- Profit target: 10% on evaluation and no target on qualified Account
- Daily stops: 5% of account size (Same applicable to qualified account)
- Position holdings: Monday to Friday on Hare Account (Allowed on weekends on Turtle Account)
- News trading: allowed
- Trading period: 365Days for Evaluation for Turtle Program, 60days for Hare program, 180 days for real account on stage 1 and indefinite after passing.
- Instruments allowed: FX majors and cross majors
- Deposits: PayPal, Skrill or wire transfer, Crypto
- Account type: Commission is $4.5 per lot, which is
0.45 pips. The spread for EUR/USD is about 0.2 to 0.6 pips.
Platforms: MT4, MT5
Found in: 2020