Research Approach
This Who Tried Take Profit Trader review is based upon a detailed comparison of the published rules and pricing structures as well as other popular prop companies. To provide an unbiased review, we’ve collected insights from the official help articles of the firm, as well as pricing comparisons and user testimonials.
Evaluation Criteria
The following are key metrics:
Challenge Rules and Evaluation Metrics: Profit targets, minimum trading days, and consistency rule.
Cost structure: Monthly fees, activation charges (or their absence), and overall affordability.
Funded account conditions: Requirements for buffer zones, withdrawal policies and post-funding restriction.
Trading conditions: execution quality and platform support.
Transparency and Support: Clarity in rules, as well as customer support.
Take Profit Trading Funding and Allocation of Capital
Transfer to Funded account: After you complete the challenge you will be funded, but the rules may change.
Buffer Zone Requirement: To withdraw profits from a $50K account you need to reach $52,000 ($2K buffer).
Profit Withdrawal Policies: Although the promise to “withdrawals on day one” may be appealing, this only applies once you reach the buffer zone. It means that, despite the marketing promise, you will still have to reach a certain level of profit before being able to access funds.
Take profit Trader Trading Platforms and Technology
Supported Trading Platforms: Take Profit Trader is compatible with major platforms such as NinjaTrader Tradovate Atas and Motion Wave. You can benefit from the use of your favorite tools, and enjoy quick and smooth trade executions.
Take Profit Trading Support and Community
Knowledge Base and Transparency
Take Profit Trader provides detailed articles of help and clear explanations about its rules. These include consistency requirements and buffer zone. The review brings to light some hidden complexities. However, the firm offers ample documentation and screenshots on its support site to help you understand the rules.
Take Profit Trader: Pros and cons
Take Profit Trader Pros
Favorable Challenge Phase
The challenge phase is more user-friendly because it does not have a daily limit or scaling plan rules.
Good Trading Conditions
The platforms that support futures trading execute them quickly and easily.
Competitive Pricing
The “TESTER” coupons offer a cost structure that is competitive with many of its competitors.
Early Profit Withdrawal (After Buffer)
If you meet the buffer requirements, then the promise of withdrawals on day one is a major selling point.
Take Profit Trader Con
Complexity after Funding
Once you are funded, the rules change. You’ll be subject to strict restrictions on news trading and intraday drawdown.
Consistency Rule Challenges
To manage risk and maintain consistency, it may be necessary to make additional efforts in order to meet the 50% limit on profits for a single day.
Buffer Zone Requirement
The advertised benefit of allowing withdrawals on the first day is not as immediate as it seems.