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In the bustling world of financial markets, where the risks are high and the rewards can be even higher, EliteTrader Funding presents an attractive proposition for both seasoned and budding traders. They extend an opportunity to earn live funding based on trading performance in simulated accounts, effectively bridging the gap between trading skills and financial backing.
As we unfold the details about their unique offerings, from the ‘keep 100% of your first $12,500 in profits’ incentive to the various evaluation programs designed to suit different trader profiles, we’ll delve into what makes EliteTrader Funding a standout firm. From the minimalistic rule-set that prioritizes trading proficiency over restrictive mandates, to the flexible schedule allowing traders to operate on their terms, there’s much to discuss.
About Elitetrader Founding
EliteTrader Funding’s business model stands out in its simplicity and trader-centric approach. Operating on the premise that traders with exceptional skills should have the platform and capital to succeed, it facilitates this by absorbing the risks associated with high-volume trading, leaving traders to focus solely on the markets.
The Challenges
Examples of Step Evaluations:
- Eval for a $10,000 account: An entry cost of $80.00 allows trading of 1 mini or 10 micros. It has a maximum drawdown of $1,000 and a profit target of $1,250.
- Eval for a $50,000 account: An entry cost of $165.00 allows trading of 8 minis or 80 micros. This comes with a maximum drawdown of $2,000 and a profit target of $3,000.
Static Evaluations
These are suitable for traders who prefer a static minimum balance without a trailing drawdown.
Examples of Static Evaluations:
- Static Eval for a $100,000 account: An entry cost of $135.00 for 2 minis or 20 micros, with a maximum drawdown of $625 and a profit target of $2,000.
- Static Eval for a $150,000 account: An entry cost of $300.00 for 4 minis or 40 micros, with a maximum drawdown of $1,250 and a profit target of $4,000.
Fast Track Evaluations
Fast Track Evaluations are designed for confident traders aiming to hit the profit target quickly. They feature intraday unrealized profit trailing drawdown and include free real-time data.
Examples of Fast Track Evaluations:
- Mini Track for a $25,000 account: An entry cost of $45.00 for 2 minis or 20 micros, with a maximum drawdown of $750 and a profit target of $2,000.
- Eval for a $250,000 account: An entry cost of $150.00 for 24 minis or 240 micros, with a maximum drawdown of $6,500 and a profit target of $15,000.
End of Day Drawdown Evaluations
These evaluations are characterized by an end-of-day trailing drawdown and a set daily loss limit.
Examples of End of Day Drawdown Evaluations:
- Eval for a $50,000 account: An entry cost of $295.00 allows trading of 8 minis or 80 micros, with a maximum drawdown of $2,000, a daily loss limit of $1,100, and a profit target of $3,000.
- Eval for a $100,000 account: An entry cost of $430.00 allows trading with an unspecified number of positions, with a maximum drawdown of $3,500, a daily loss limit of $1,500, and a profit target of $5,000.
Trading Platforms
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What is EliteTrader Funding?
EliteTrader Funding offers traders the chance to earn live funding by demonstrating their trading prowess in evaluation accounts. We provide different levels of simulated account evaluations where traders can prove their ability to profit, manage drawdowns, and trade consistently.
How does the evaluation process work?
To begin, you choose an evaluation package that suits your trading style and goal. You are then given a simulated account with specific profit targets, drawdown limits, and minimum trading days. If you meet all the evaluation criteria without violating the drawdown limits, you qualify for a funded trading account where you can keep a significant percentage of your profits.
What happens if I hit my drawdown limit during the evaluation?
If you hit your specified trailing drawdown limit, your evaluation account will fail. You have the option to reset your account for a $75 fee. If you are subscribed to a monthly plan, you’ll receive an automatic free evaluation account reset upon subscription renewal if your account is failed.
How and when do I get paid once I qualify for a funded account?
Once you’re trading a funded account and you make profits, you’ll keep 100% of your first $12,500 in profits. After that, you will retain 90% of the profits. Payments are typically processed upon request after reaching a certain threshold or at regular intervals that will be stipulated in your agreement.
Are there any ongoing fees once I am funded?
Once you qualify for a funded account, there is an $80 monthly fee to maintain access to the trading platform, real-time data, and other resources provided by EliteTrader Funding. This fee is applicable after you have completed any promotional period (like the free months offered in the Fast Track Evaluations) or immediately upon qualification for the funded account, depending on the evaluation program you choose.
Conclusion
In summary, EliteTrader Funding offers a distinctive and flexible opportunity for traders who are looking to break into the world of funded trading without the heavy constraints typically imposed by other proprietary trading firms. With a straightforward set of rules, a variety of evaluation tiers, and the appealing prospect of keeping a substantial portion of initial profits, ETF has positioned itself as a viable launchpad for aspiring traders seeking financial independence.
The sliding scale of evaluation accounts, ranging from $10K to $250K, caters to traders of varying experience and risk tolerance, and the accompanying free NinjaTrader license key and real-time data support further sweeten the deal. While the cost of resets and monthly fees once qualified are aspects to consider, these are balanced by the firm’s transparent structure and the absence of mandatory trading times, allowing traders the freedom to operate on their own schedules.
Of course, one must approach with the understanding that simulated results do not equate to real-world trading success and that the path to profitability is often fraught with challenges. However, for those who are confident in their trading strategies and discipline, EliteTrader Funding provides a robust platform for growth and profit.
For traders eager to navigate the markets and develop their skills without the risk of personal capital, EliteTrader Funding could very well be the stepping stone to success. However, it’s crucial to approach with diligence, as the market’s volatility does not discriminate between the funded and those trading independently.
Whether you are a novice looking to dip your toes in the market waters or an experienced trader in search of new avenues, EliteTrader Funding seems to offer a compelling proposition. As with all trading endeavors, due diligence, continuous learning, and risk management remain the pillars of sustained success.
Risk Warning: It’s essential to remember that trading involves risk, and the content on the ProdanAdvisor website is for general information only. The service and company website are provided on an “as-is” basis and without warranty of any kind.
