Legends Trading 2024 Review: Comprehensive Analysis of Evaluation Programs, Fees, Payouts, and Discounts

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Table of contents


1. Overview

2. Evaluation Process

  • Account Sizes: $25k, $50k, $100k, $150k, $250k
    Account size
    $25,000
    $50,000 
    $100,000 
    $150,000
    $250,000
    Max lots
    A
    10 Minis/ 50 Micros
    14 Minis/ 70 Micros
    17 Minis/85 Micros
    25 Minis/125 Micros
    Profit Goal
    $1,500
    $3,000
    $6,000
    $9,000
    $15,000
    Max DD
    $1,500
    $2,000
    $3,000
    $4,000
    $4,500
    Required days
    7
    7
    7
    7
    7
    Original Price
    $165
    $185
    $225
    $320
    $535

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  • Multiple Accounts: Yes. You can trade up to Unlimited evaluation accounts.
  • Trading Objectives: 30% consistency rule and don’t hit your max loss limit.
    There is NO DAILY LOSS LIMIT. 7 minimum trading days.
  • Time Limits: No specific time limit; traders have unlimited trading days to complete the evaluation.
  • Cost: Ranging from $165 to $535 per month
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3. Funded Account Rules
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  • You can have 10 Funded Accounts
  • Payout Structure: Profit split is 90/10. Trader gets 90% and 10% commissions to the firm.
    • Payout Frequency: twice per month:

      Request Dates: 1st-5th (Paid out on the 15th) / Approvals may happen any time between the 6th and 14th of the month
      Request Dates: 15th -20th (Paid out on the last day of the month) / Approvals may happen any time between the 21st and last day of the month – 1 day
    • For your 1st payout, you must have a total of 10 individual trading days, where actual trades were placed on those 10 days, before you can request the first payout. Each ongoing payout request requires a minimum of 10 trading days between payout requests, where trades were actually traded on ten individual, separate trading days. The 10 active trading days is from request to request (not based on request approval dates, when the funds were deducted from the account, or when payouts issued).
    • Minimum for payout request: $1,000.
    • Maximum payout for first 3 payouts (twice a month), from 4th payout it is uncapped
      $25k Account
      $1,500
      $50k Account
      $2,000
      $100k Account
      $2,500
      $150k Account
      $2,750
      $250k Account
      $3,000
    • REQUIRED Minimum Balance To Request a Withdrawal (each payout period):
      $25k Account- $26,500
      $50k Account- $52,500
      $100k Account- $103,250
      $150k Account- $155,250
      $250k Account- $256,500
  • Trading Rules:.
    • DCA, News Trading are allowed.
    • No flipping. Need 10 active trading days for each payout request.
    • 30% consistency rule
    • More about prohibited conducts here

4. Platform and Data

5. Customer Support

  • Support Channels: Email, live chat.
  • Educational Resources: Does the firm offer webinars, tutorials, or trading tools?

6. Pros and Cons

  • Pros:
    • No daily loss limit, allowing traders to continue trading without unnecessary restrictions.
    • End-of-Day Max Trailing Loss provides flexibility during trading hours.
    • Fair consistency rules with a 30% threshold.
    • Transparent operations with no hidden traps.
    • Commitment to trader success, focusing on helping traders pass evaluations.
    • Flexible payout options without restrictive rules.
    • 24/7 live chat support ensures assistance is always available.
  • Cons:
    • New comer in the futures prop trading space
    • Require at least 7 trading days to pass evaluations.

7. Conclusion and Final Rating

  • Overall Rating: 4.5 out of 5 stars.
  • Recommendation: Legends Trading offers a comprehensive and trader-friendly environment, making it suitable for both novice and experienced futures traders seeking a supportive and flexible prop trading firm.
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Disclaimer:

This review is for informational purposes only and reflects personal opinions based on publicly available information and user feedback. It is not financial advice or an endorsement of Legends Trading. Futures trading involves substantial risk and is not suitable for all investors. Always conduct your own research and consult with a financial advisor before engaging with any prop firm. The review may contain affiliate links, and if you choose to make a purchase through these links, the reviewer may receive a commission at no additional cost to you.