Take Profit Trader Review 2024: Reviews And In-Depth Analysis. Evaluation Programs, Fees, and Payouts Explained
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Overview of Take Profit Trader
Source: Trustpilot.com
Take Profit Trader (TPT) is a rising futures prop trading firm known for its transparent rules and trader-friendly approach. It aims to provide accessible funding opportunities with low entry barriers, a straightforward evaluation process, and quick payouts, you can request payout daily.
In this detailed review, we’ll explore everything you need to know about Take Profit Trader, including its evaluation programs, pricing, supported platforms, profit splits, and key pros and cons.
1. Take Profit Trader Evaluation Programs: How It Works
Take Profit Trader uses a one-step evaluation process to assess a trader’s skills in risk management, consistency, and profitability.
Evaluation Phase (Test Accounts)
- Account Sizes: Choose from account sizes ranging from $25,000 to $150,000, allowing flexibility based on your trading style and risk tolerance.
- Profit Targets: Targets are set between 8% to 10% of the account size, which is competitive in the prop trading industry.
- Daily Loss Limits: The daily loss limit varies from $500 to $3,000, depending on the account size. This rule enforces daily risk management discipline. Hitting daily loss limit is a hard breach (Failed).
- Trailing Drawdown: The trailing maximum drawdown starts at 4% to 5% of the initial balance, helping to ensure traders maintain consistent performance without excessive risk.
| Account size | $25,000 | $50,000 | $75,000 | $100,000 | $150,000 | |||
|---|---|---|---|---|---|---|---|---|
| Profit target | $1,500 | $3,000 | $4,500 | $6,000 | $9,000 | |||
| Max position size | 3 lots | 6 lots | 9 lots | 12 lots | 15 lots | |||
| Daily loss limit | $500 | $1,100 | $1,600 | $2,200 | $3,300 | |||
| EOD DD | $1,500 | $2,000 | $2,500 | $3,000 | $4,500 |
Funded Account Phase
- Upon passing the evaluation phase, traders receive a funded account (a.k.a. Pro Accounts) with slightly relaxed rules, but the trailing drawdown still applies.
Pro+ accounts are live accounts with Tradovate - You can maintain up to 5 active PRO/PRO+ accounts simultaneously. Please be aware that this limit of five active PRO/PRO+ accounts applies to the total number of accounts, not five accounts in each category. For instance, you can have three PRO accounts and two PRO+ account, but not five PRO accounts and five PRO+ accounts concurrently.
- Also, please note that the “group trade” feature in Tradovate, which allows you to copy trades, cannot be used when trading your CQG accounts through TradingView.
2. Take Profit Trader Fees and Pricing Options Explained
Take Profit Trader has a transparent and competitive pricing structure, with monthly evaluation fees based on account size.
- Evaluation Fees: Typically range from $125 to $360 per month, depending on the selected account size. You can get best deals by go to Takeprofittrader website use code SPICY. The highest discount is 50%
- One-Time Payment Option: TPT offers a one-time activation fee option, allowing traders to avoid recurring monthly costs. Takeprofittrader sometimes have promotion with NO ACTIVATION FEES, always check https://spicycrispyfootprint.com/ for most updated deals!
- Reset Fees: If a trader fails the evaluation, a reset fee of $75 to $150 allows them to start over without creating a new account.
- They also allow Pro (Funded) Account resets.
Source: Takeprofittrader
3. Trading Platforms Supported by Take Profit Trader
Take Profit Trader integrates with popular platforms like NinjaTrader, TradingView, Tradovate, and Rithmic supported platforms like Sierra Chart, Quantower… giving traders flexibility in their trading environment.
- Data Feeds: You have both Rithmic and Tradovate/CQG data feed options. Both are included in the monthly evaluation fee, ensuring accurate real-time market data, especially during high-volatility periods.
- Traders support: TPT provides live chat and email support [email protected]
4. Payout Structure: Profit Splits Explained
Take Profit Trader offers one of the most competitive payout models in the industry.
- Profit Split: Starts at 80% for the trader and 20% for the firm in PRO account, increasing to 90% in Pro+ accounts (live accounts).
- Fast Payouts: Payouts are processed automatically instantly via Plaid, PayPal, bank transfer, or Wise, demonstrating the firm’s commitment to fast payout process.
- Minimum Payout Threshold: There is no fees if you withdraw $250 or more. For $250 or less, you will be charged $50 withdrawal fee.
5. Risk Management Rules at Take Profit Trader
Take Profit Trader places a strong emphasis on risk management, ensuring that only disciplined traders get funded.
- Trailing Drawdown: The trailing drawdown rule follows the trader’s profits but stops trailing once it reaches the starting balance, giving traders more flexibility as their account grows.
- Consistency Rule: 50% in evaluation phase, no consistency rule in funded (PRO and PRO+) accounts.
6. Pros and Cons of Take Profit Trader
Advantages
- Low Barrier to Entry: Affordable fees and achievable profit targets make TPT accessible for traders of various experience levels.
- High Profit Split: Starting at 80%, the profit split can increase up to 90%, allowing traders to retain more of their earnings.
- Wide Platform Support: Compatibility with popular platforms like NinjaTrader, TradingView, and Sierra Chart, Quantower provides flexibility for traders.
- Fast Payouts: Quick payout processing instantly enhances trader satisfaction.
Disadvantages
- Trailing Drawdown Rule: This can be restrictive during the initial stages of trading, especially for those with an aggressive trading style.
- Daily loss limit: Hard breach in evaluation and Pro funded accounts. Can be removed in Pro+
7. Frequently Asked Questions (FAQ)
Is Take Profit Trader legit?
Yes, Take Profit Trader is a legitimate prop firm offering transparent evaluation programs and quick payouts.
How does Take Profit Trader’s trailing drawdown work?
The trailing drawdown follows the highest account balance but becomes static once it reaches the starting balance, giving traders more flexibility.
What are the fees for resetting a Take Profit Trader account?
Reset fees range from $75 to $150, depending on the account size.
Conclusion: Is Take Profit Trader Right for You?
Take Profit Trader stands out as a strong option for futures traders seeking a reliable prop firm with transparent rules, competitive fees, and a generous profit split. Its focus on risk management and consistency ensures that only disciplined traders get funded, contributing to the firm’s sustainability.
However, traders should carefully evaluate the impact of the trailing drawdown on their strategy. For those with a robust, well-tested trading approach, Take Profit Trader offers an excellent opportunity to leverage firm capital for increased profitability
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Take Profit Trader has fastest payout
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