The Prop Trade – Firm Review
- Fast account scaling beyond expectations
- Global markets accessible through platform
- Zero capital fees upon success
- Seamless withdrawals without delays
- Equitable profit allocation for traders
Company Overview
The Prop Trade is a proprietary trading firm that offers funded trading accounts to both aspiring and experienced traders. Founded with the mission to provide accessible trading capital, the company focuses on a straightforward two-phase evaluation process that tests traders’ abilities before granting them access to substantial capital. The Prop Trade stands out for its transparent fee structure, competitive profit splits, and trader-friendly rules.
What makes The Prop Trade particularly appealing is its balance between rigorous risk management and achievable trading targets. The company offers various account sizes, ranging from $10,000 to $200,000, allowing traders to select options that match their experience and risk tolerance. With multiple financial instruments available for trading and continuous support for traders, The Prop Trade has positioned itself as a reliable partner for those looking to scale their trading career without risking substantial personal capital.
Key Features at a Glance
Challenge Fees
- Standard Challenge – One-time fee based on account size, ranging from $99 for $10K accounts to $799 for $200K accounts
- Professional Challenge – Higher one-time fee with less restrictive trading rules and faster progression
- Free Retake – Free retry offered if you fail the first phase but have shown disciplined trading
- Discounts – Periodic promotional discounts available for new traders
Account Types
- Standard Challenge: Two-phase evaluation with 10% profit target in each phase, 5% daily drawdown limit
- Professional Challenge: Accelerated evaluation with 12% profit target, more flexible trading conditions
- Funded Account: After successful evaluation, traders receive a fully funded account with up to 90% profit sharing
- Scaling Accounts: Opportunity to scale account size after consistent profitable trading
Profit Split Options
- Standard Split: 80% profit share for traders after successful challenge completion
- Performance-Based Scaling: Profit share increases to 85% after consistent profitability
- Elite Trader Program: Up to 90% profit share for exceptional trading performance
- Monthly Payouts: Regular profit distribution schedule with no minimum withdrawal amount
Account Sizes
- $10,000: Entry-level account suitable for beginners with a challenge fee of $99
- $25,000: Mid-sized account with a challenge fee of $199
- $50,000: Intermediate account with a challenge fee of $299
- $100,000: Advanced account with a challenge fee of $499
- $200,000: Professional account with a challenge fee of $799
Trading Platforms
- MetaTrader 4 (MT4): Industry-standard platform with comprehensive charting tools and technical indicators
- MetaTrader 5 (MT5): Advanced version with additional timeframes, indicators, and analytical tools
- cTrader: User-friendly alternative with advanced order types and depth of market visualization
- Custom Dashboard: Proprietary trading dashboard for performance tracking and account management
Financial Markets
- Forex: Major, minor, and exotic currency pairs with competitive spreads
- Indices: Global stock market indices including S&P 500, NASDAQ, FTSE, DAX, and others
- Commodities: Energies, metals, and agricultural products including gold, silver, oil, and natural gas
- Cryptocurrencies: Major crypto pairs including Bitcoin, Ethereum, and other altcoins
Challenge Programs Detail
Standard Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | 10% | 10% |
| Daily Drawdown | 5% | 5% |
| Maximum Drawdown | 10% | 10% |
| Minimum Trading Days | 5 days | 5 days |
Professional Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | 12% | 8% |
| Daily Drawdown | 6% | 6% |
| Maximum Drawdown | 12% | 12% |
| Minimum Trading Days | 4 days | 4 days |
Challenge Specifications
- Max Allocation: Up to $200,000 initial capital with potential to scale to $1,000,000 through the scaling program
- Scaling: Account size can be increased by 25% after every 10% profit milestone in the funded account
- Trading Competitions: Monthly challenges with additional cash prizes for top-performing traders
- Free Trial: 3-day demo account available to test platform compatibility before purchasing a challenge
- Profit Targets: 10% for Standard Challenge, 12% for Professional Challenge in Phase 1
- Drawdown Structure:
- Daily: 5% limit from the starting balance in Standard Challenge, 6% in Professional
- Maximum: 10% limit from the starting balance in Standard Challenge, 12% in Professional
- Trailing: No trailing drawdown once the account reaches 10% profit
Trading Rules and Requirements
- No holding positions over weekends for Standard Challenge (allowed in Professional)
- News trading is permitted with proper risk management
- No scalping restrictions, all trading styles are permitted
- Minimum 5 trading days required during each evaluation phase
- Maximum leverage of 1:100 for forex pairs, 1:20 for indices and commodities
- No automated trading systems or EAs allowed during evaluation
- No trade copying or signal following services permitted
- Hedging is allowed across different instruments
Company Information
- Founded in 2020 to provide accessible capital to skilled traders
- Headquartered in London with remote support teams worldwide
- Customer support available 24/5 via live chat, email, and ticketing system
- Active community forum and educational resources for traders
- Regulated liquidity providers with direct market access
- Transparent trading conditions with execution reports available
Payout Methods
- Bank Wire Transfer (2-5 business days)
- Bitcoin and other cryptocurrencies (24-48 hours)
- PayPal (24-48 hours)
- Skrill (24-48 hours)
- Neteller (24-48 hours)
- Monthly payout cycle with no minimum withdrawal amount
Trading Commissions
- Forex: $7 per lot round turn commission
- Indices: $10 per lot round turn commission
- Commodities: $12 per lot round turn commission
- Cryptocurrencies: 0.05% of trade value
- No hidden fees or overnight swap charges during evaluation
- Standard market spreads from institutional liquidity providers
IP Rules
- Multiple IP addresses allowed with prior notification
- VPN usage permitted with registration
- Trading from different locations allowed but must be reported
- Account sharing strictly prohibited
- Each trader limited to maximum of 3 active challenge accounts
Video Review
The Prop Trade Review
Comprehensive review of The Prop Trade trading services
Unique Features
Trading Flexibility
- No time limit on challenge phases
- No minimum or maximum trading days requirement
- All trading styles permitted including scalping
- Overnight and weekend holding allowed in Professional accounts
Trader Support
- Free educational webinars and trading resources
- Performance analytics dashboard
- Active community forum for trader networking
- One free retry opportunity for failed challenges
Why Choose The Prop Trade?
The Prop Trade stands out in the crowded prop trading landscape by offering a balanced combination of trader-friendly rules and robust risk management. Their evaluation process is designed to identify disciplined traders who can follow rules while still allowing flexibility for different trading styles.
Key advantages include:
- Transparent fee structure with no monthly payments or profit targets after funding
- Generous profit split starting at 80% and scaling to 90%
- No time limits on evaluation phases, allowing traders to progress at their own pace
- Scaling program that can increase account size up to $1,000,000
- Free retry opportunity for traders who show disciplined trading
- Multiple account options to suit different experience levels and risk tolerances
- Fast payout system with multiple withdrawal methods
Frequently Asked Questions
How long does it take to get funded?
The time to get funded varies based on your trading performance. Since there’s no time limit on evaluation phases, you can complete both phases in as little as 10 trading days (meeting the minimum trading day requirements for both phases) if you reach the profit targets quickly. Most successful traders complete the process within 1-3 months.
Can I hold positions over the weekend?
Weekend position holding depends on your account type. Standard Challenge accounts must close all positions before the weekend. Professional Challenge accounts are allowed to hold positions over the weekend, which is one of the key advantages of this account type.
What happens if I break a rule?
Breaking a trading rule typically results in account termination. However, The Prop Trade has a warning system for minor violations. Major violations like exceeding maximum drawdown limits result in immediate account closure. For funded traders who have shown consistent profitability, some flexibility may be granted for first-time rule violations.
Can I trade news events?
Yes, The Prop Trade allows news trading, which is a notable advantage compared to some other prop firms. However, you’re still required to maintain proper risk management and stay within the daily and maximum drawdown limits while trading during volatile news events.
How often can I withdraw profits?
Profit withdrawals occur on a monthly cycle. After you’re funded, any profits exceeding your starting balance are calculated at the end of each month and distributed according to your profit split percentage (80%-90%). There is no minimum withdrawal amount, and payments are processed within 2-5 business days depending on your chosen payment method.
