Looking for a futures prop firm that offers fast funding and easy withdrawals? Take Profit Trader might be the one. This review breaks down how it works, what it costs and if it’s worth trying. Read on to find out if Take Profit Trader is right for you.
Features
Take Profit Trader is a futures proprietary trading firm based in Orlando, Florida. They offer traders the ability to trade futures without risking their own capital. The platform is all about simplicity and quick access to funding.
The company has a one-step funding process. Traders first select an account size that fits their trading style and skills. After a short evaluation period they get a PRO account with immediate withdrawable profits.
Key features include:
- Account Sizes: $25,000 to $150,000 accounts
- Fast Path to Funding: 5 trading days to get to PRO account status
- Immediate Withdrawals: Profits can be withdrawn from day one of PRO account access
- Profit Splits: 80/20 for PRO accounts and 90/10 for PRO+ accounts
- Multiple Trading Platforms: Over 15 platforms including NinjaTrader, TradingView and Tradovate
- Trading Instruments: Agricultural, equity, interest rate, foreign exchange, metals and energy futures
- PRO Account Resets: Up to 3 resets for PRO accounts
- Buffer Requirement: Buffer required for PRO accounts but not for PRO+ accounts
- Daily Loss Limits: Removed once you get to PRO status
The simulation environment for test and PRO accounts uses regulated brokers and CME approved data providers like Tradovate, NinjaTrader and Rithmic. This means order execution as close to live market conditions as possible.
You can manage up to 5 PRO accounts with Take Profit Trader, perfect for different trading strategies. The company emphasizes risk management tools to help you stay disciplined.
When you get to PRO+ status your accounts will transition to live market trading through Tradovate as the regulated broker with a 90/10 profit split.
Costs
Take Profit Trader operates on a subscription model with different pricing tiers based on account size. The monthly subscription fees are:
- $25,000 account: $150
- $50,000 account: $170* $75,000 account: $245
- $100,000 account: $330
- $150,000 account: $360
Each account size has its own parameters:
For PRO accounts there is a one-time fee of $130 instead of monthly payments. This separates Take Profit Trader from competitors who charge monthly fees for funded accounts.
The company also charges standard commission rates of $5 per round trip for standard contracts and $0.50 for micro contracts in test and PRO accounts. PRO+ accounts use broker rates.
Summary
Take Profit Trader offers a fast path to funded trading for futures traders. The company is all about speed and simplicity so you can get funded faster than many of the competition.
The evaluation process is tough but achievable. According to company data from January to August 2023, about 20.37% of registered users passed their trading tests. This reflects the reality of profitable trading while providing a more affordable environment to learn than trading with your own capital.
The company stands out with their day-one withdrawal policy, you can withdraw profits from day one of PRO account trading. The 80/20 profit split is competitive and you can upgrade to 90/10 in PRO+ accounts.
Take Profit Trader has a good reputation with over 800 Trustpilot reviews and 4.3 out of 5 stars. They respond to feedback and resolve issues quickly.
Pros and Cons
Pros:
- Withdrawals from day one of PRO account trading
- Fast evaluation process (5 days to PRO account)
- 3 PRO account resets available if needed
- No scaling plan restrictions on contract sizes
- Multiple trading platforms
- Competitive profit splits (80/20 in PRO, 90/10 in PRO+)
- 24/7 customer support
- One-time fee for PRO accounts instead of monthly payments
Cons:
- Limited educational resources for new traders
- Restrictions on overnight positions and trading during news events
- No free trial
- All PRO accounts are simulated, not live market accounts
- Test phase may be challenging for beginners
- Trailing drawdown rules require management
- Monthly subscription fees are high compared to some competitorsFor traders who are disciplined and want fast funding and day one withdrawals. Good for day traders who don’t hold overnight positions and like simple funded trading.