TRADABLE MARKETS:
Futures
CEO
James Sixsmith
Date Created
2021
TakeProfitTrader
Years In Operation:
4
Date Created
2021
4.4 out of 5
Trustpilot
Futures
Firm Overview
PAYMENT METHODS:
Credit/Debit Card
PayPal
TakeProfitTrader Built-In Wallet
PLATFORM:
Available Support Channels:
Email
Live Chat
Payout Methods:
Leverage
Max Contract Size Allowed per Account Size
PRO
$25,000:
3 (30 Micros)
$50,000:
6 (60 Micros)
$75,000:
9 (90 Micros)
$100,000:
12 (120 Micros)
$150,000:
15 (150 Micros)
Commissions
- For Test and Pro accounts, Commissions for all products amount to $5 per round trip per contract. Similarly, Micros incur $0.50 commission per round trip per contract.
- Note: Commissions on Pro+ accounts are different and you can find the info for this here: https://takeprofittraderhelp.zendesk.com/hc/en-us/articles/15172012844957-Commissions
Consistency Rules
- Minimum 5 Trading Days where a trading day as defined as any day in which you have executed at least one trade.
- 50% Consistency Rule – A single day’s profits cannot exceed more than 50% of your total profits. This rule is only for the Test phase.
Firm Rules
- EAs/Trading Bots/Algos – These are not allowed.
- CME Price Limits – Price limits apply and it is your responsibility to exit your positions before these limits are hit. A failure to do so will cost you your Pro Account.
- You can see the CME Price Limits Here: https://www.cmegroup.com/trading/price-limits.html
- Inactivity Rule – Must have at least one trading day per calendar week. A “traded-day” is defined as a day where you hold an option position on your most traded instruments for at least one minute.
- In case you need an exception to this rule, it is important to reach out to the Take Profit Trader team for this.
- Intraday or EOD Trailing Drawdown – Drawdown is calculated on an End of Day Basis (5PM EST) on the Test and the Pro+ Accounts. However, on the Pro account, there is a Trailing Drawdown which is calculated intraday based on your peak balance; this includes realised and unrealised gains.
- Drawdown stops trailing once it has reached the initial account balance.
- Maximum Accounts – Can have a maximum of 5 Pro/Pro+ accounts at one time.
- News Trading – There are no restrictions on the Test account around News. However, all Pro and Pro+ accounts must be out of all positions and cannot have any open orders one minute before, during and after the follow news events:
- FOMC Statements/Announcements – Wednesday’s at 2pm ET.
- Non-Farm Payroll (NFP) – Friday’s at 8:30am ET, once every month.
- Consumer Price Index (CPI)
- The following events are also prohibited for specific instruments:
- Crude Oil Inventories | Prohibited Product – Crude Oil
- Bond Auctions | Prohibited Products – 10Y Note, 30Y Bond.
- Counter Positions – Cannot hold positions in opposite directions on closely correlated products. This rule applies on all account types.
- Account Resets – Can reset a Pro account up to three times per account.
- You can find more information on costs of resets here: https://takeprofittraderhelp.zendesk.com/hc/en-us/articles/15171895352733-PRO-Account-Resets
Payout Policy
Pro Account
- Profit Split – 80/20.
- Buffer Zone Requirement – Once you reach the level of your maximum drawdown.
- Example: A $50k account with a Max. Drawdown of $2,000.
- In this case, you will need to reach a balance of $52,000 before withdrawing profits.
- Traders can withdraw profits inside of the buffer zone, but this is only permissible once the account has been terminated.
- Note the following table for buffer zone profits:
- Example: A $50k account with a Max. Drawdown of $2,000.
| Profits Taken Inside Buffer Zone | Amount of Buffer Received |
|---|---|
| ≤60 days since account opening | 50% |
| >60 days since account opening | 80% |
Pro+ Account
- Profit Split – 90/10.
- No buffer zone requirement.
- No limitations on withdrawals.
- Profits can be withdrawn from day one.
General Policies
- For withdrawals over $250, you pay no fees. However, if you request a withdrawal of $250 or less, you will be charged a $50 withdrawal fee.
- Note: This does not include fees charged by third parties like Paypal, which will also be deducted from the withdrawal amounts.
- Payout Processing Time
- First you must withdraw money from your account into you TakeProfitTrader Wallet. This can take roughly 24 business hours to process.
- Once the money is in your wallet, you can then request a withdrawal. Then, a TakeProfitTrader admin will approve the request. This process can take up to 12 business hours, though is usually quicker.
- Wise and Paypal payouts are processed within 12 business hours.
- For payouts via Plaid, this is usually a real time process and can take a couple of minutes. In same cases, it might take 1-2 business days for the money to appear in your bank account.
KYC
After signing up and before purchasing a Test account.
Restricted Countries
Afghanistan
Albania
Angola
Barbados
Burkina Faso
Bulgaria
Burundi
Benin
Botswana
Belarus
Congo (Democratic Republic)
Republic of the Congo
Côte d'Ivoire
Cameroon
Cuba
Algeria
Ethiopia
Ghana
Croatia
Iraq
Jamaica
Kenya
Comoros
Lebanon
Sri Lanka
Liberia
Libya
Montenegro
North Macedonia
Mali
Myanmar
Mongolia
Mauritius
Mozambique
Namibia
Nicaragua
Panama
Papua New Guinea
Philippines
Pakistan
Qatar
Romania
Serbia
Sudan
Slovenia
Senegal
Somalia
Tunisia
Turkey
Trinidad and Tobago
Tanzania
Ukraine
Uganda
Venezuela
Vietnam
Kosovo
Yemen
South Africa
Zimbabwe
Frequently Asked Questions
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TakeProfitTrader
No, you can get paid from day one. However, there is a Buffer Zone requirement which is equal to your drawdown before you can get paid. Also note that you can only take profits from your buffer after you terminate the account.
Copy trading is allowed, and you can trade up to 5 Pro and Pro+ accounts. For example you can have 3 Pro and 2 Pro+ accounts at once.
The process to get paid out is as follows: first you must withdraw the balance into your Take Profit Trader Wallet. From there, you must then request a withdrawal via your preferred method.
80/20 on the Pro Account, and 90/10 on the Pro+ Account. Do bear in mind the Buffer Requirements for the Pro Account. This does not apply for the Pro+ Account, however.
The Test and Pro+ accounts use an End of Day (EOD) trailing loss. The Pro stage, however, uses an intraday trailing loss which is calculated based on your peak balance intraday and includes realised and unrealised gains.
TakeProfitTrader Prop Firm Challenges
SIZE:
STEPS:
FIRM
ACCOUNT SIZE
PROFIT TARGET
DAILY LOSS
MAX LOSS
PROFIT SPLIT
PAYOUT FRE.
PRICE
$25,000
$1,500
None
$1,500
80%
After Attaining Buffer Zone
$ 90.00
$ 150.00
Month
$50,000
$3,000
None
$2,000
80%
After Attaining Buffer Zone
$ 102.00
$ 170.00
Month
$75,000
$4,500
None
$2,500
80%
After Attaining Buffer Zone
$ 147.00
$ 245.00
Month
$100,000
$6,000
None
$3,000
80%
After Attaining Buffer Zone
$ 198.00
$ 330.00
Month
$100,000
$6,000
None
$3,000
80%
After Attaining Buffer Zone
$ 198.00
$ 330.00
Month
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