Elite Trader Funding Review
Elite Trader Funding give traders the chance to receive live funding based on how well they perform in simulated accounts. You can trade multiple accounts (up to 20) under one login, choose from several evaluation options and keep 80% of all profits.
The goal of Elite Trader Funding is to become the one-stop shop for traders seeking funding. They try to work with profitable traders, and take a lot of time and effort to locate the Elite traders. Because they understand that mistakes sometimes occur, they won’t charge you for every expense. They want traders to succeed so that they can work as a team to achieve success together.
Three businessmen established Elite Trader Funding with the goal of empowering retail traders and rewarding them for consistent performance. They all had humble beginnings, so understand what it’s like to start from scratch. To become an Elite Trader, you must demonstrate your trading abilities on an evaluation account and reach the profit targets whilst staying within the rules.
Three professionals founded the organisation in February 2022 with the intention of assisting retail traders and rewarding their discipline. Although the company is relatively new to the market, these individuals have experience in trading. Clint, Kanwal, and Eric, the founding members, have a combined expertise of more than 40 years in trading, including the sectors of energy and commodities, and more than 20 years in web development and network engineering.
The creation of financed trader products is being accelerated by Elite Trader Funding. By providing several exchanges, a sizable 100% profit split up to $12,500 for the trader, affordable resets, and mobile trading, they have pioneered novel aspects in the prop firm sector. You can pass the funded evaluation program and get access to a funded account with a minimum of just 5 trading days which is amongst the lowest you will find anywhere.
With this rapidly expanding prop trader program, you may receive a chance at funding for as little as $40. If you are unsuccessful, you can reset all accounts for a competitively priced $75. At $80, their data stream is likewise extremely cheaply priced. You should be able to purchase fresh accounts for less money than the industry low reset price thanks to the frequent discounts that they run.
Qualification Programs
Elite Trader provides traders with a selection of accounts to begin with. Traders must first pass a skill evaluation process in order to acquire a funded account. The 1 Step Evaluation, Fast Track Evaluation, Static Drawdown Evaluation, and End-of-Day Drawdown Evaluation are just a few of the evaluation options offered by Elite Trader.
The minimum requirement for all assessment kinds is 5 trading days, which might be consecutive or not. All other assessment kinds do not have an expiration date, whereas the Fast Track Evaluation has a maximum of 14 trading days. Trading is also authorised during newscasts, although it is not permitted to keep positions overnight, and all positions must be closed at least one minute before the market closes.
Elite Trader accepts instruments from all major markets’ CME, NYMEX, COMEX, and CBOT exchanges. The cost of the account includes a level 1 data feed, however level 2 data must be purchased separately for an extra $15 per exchange or $40 for all of the above exchanges in order to have order flow data as well.
The maximum position size, profit target, and trailing drawdown vary by account size, which ranges from $10k to $300k.
Both the Fast Track Evaluation and the One Step Evaluation use a real-time, trailing drawdown computation that is based on unrealized profits. It always refers to the overall allowed maximum drawdown with those account types; there are no daily or weekly loss limits. Similar to this, the End-of-Day Drawdown evaluation type uses a slightly different methodology to determine their drawdown at the conclusion of a trading day. The Static Drawdown Evaluation, on the other hand, keeps a static drawdown, which means that the minimum trading balance that is originally permitted stays constant and never deviates from its starting level, making it practically an own equity account from the standpoint of trading.
Additionally, ETF has a protection feature in place where orders that exceed the maximum permissible lot size are only denied rather than automatically cancelling the account. A trade must have created a successful trading strategy in order to guarantee a successful evaluation procedure. The futures trading course from UC Trading offers all necessary components as well as individualised support to successfully complete the ETF evaluation process and acquire a funded trading account.
All evaluation kinds, with the exception of the $75 Fast Track Evaluation, are resettable in Elite Trader. Additionally, a free Ninja Trader licence is included with every evaluation type.
1 Step Evaluation
The most popular evaluation is the one that only requires one step. It is clear and straightforward to understand. Trade for at least 5 days. Obtain the desired profit. Avoid going below your trailing drawdown. Avoid trading more contracts than are permitted. Close One minute before the market closes, all trades. If you complete all of that, you will be given an Elite account within 72 hours and be able to start making money.
End of Day Drawdown Evaluation
The end of day drawdown evaluation is clear and straightforward to understand. Trade for at least 5 days. Obtain the desired profit. Don’t exceed your daily loss limit or end-of-day trailing drawdown. Avoid trading more contracts than are permitted. Close One minute before the market closes, all trades. If you complete all of that, you will be given an Elite account within 72 hours and be able to start making money.
Fast Track Evaluations
One of the more well-liked evaluations is the fast track one. It is clear and straightforward to understand. Trade for at least 5 days. You have a total of 14 calendar days to reach your profit goal. Avoid going below your trailing drawdown. If you complete all of that, you will be given an Elite account within 72 hours and be able to start making money.
Static Drawdown Evaluation
The minimum account balance in the static drawdown evaluation is fixed. It is clear and straightforward to understand. Trade for at least 5 days. Obtain the desired profit. Avoid using up all of your account balance. Avoid trading more contracts than are permitted. Close One minute before the market closes, all trades. If you complete all of that, you will be given an Elite account within 72 hours and be able to start making money.
Live Account
Once the prerequisites on the qualification account have been achieved, Elite Trader offers a contract that may be electronically signed. The chosen balance and tradeable lots for the account are sent to the trader following the review procedure.
Regarding the permitted position size and drawdown, the account restrictions are unaltered. With regard to unrealized profits, the drawdown is still computed for the 1 Step and Fast Track account options, but it stops and does not increase after the trader achieves a threshold of the initial account balance plus $100. With End-of-Day account settings, the drawdown limit does not account for unrealized gains but does not cease; it is still in place for the duration of the account. The static drawdown accounts, in comparison, take a slightly different method and do not use a trailing stop; they only let trading in lots of a maximum of 2 or 4.
Trading is allowed during news events which is great but holdings cannot be held overnight and must be closed no later than one minute before market close.
Depending on the selected account size, there are withdrawal restrictions on the first four withdrawals. The fifth withdrawal and all withdrawals after that do not have fixed restrictions but instead follow a 30% rule. This policy states that not more than 30% of the account’s total balance may come from a single trading day at the time of any withdrawal request.
Any regulations broken by a trader will result in immediate account termination and the requirement for a new evaluation. ETF maintains the same protection mechanism used in the qualification procedure, where orders that exceed the total permissible lot size are only denied rather than abruptly terminating the account.
Elite Trader Funding provides the trader 100% of the first $12,500 and then splits the remaining profits 80/20, with 80% going to the trader and 20% going to the company. You can get a better profit share of 90% from other prop firms including E8 Funding and Apex Trader Funding.
For active accounts, the business charges a monthly fee of $80.00. Account upkeep and the level 1 data feed for all significant exchanges are included (CME, NYMEX, COMEX, CBOT). Level 2 data requires a separate subscription.
Elite Trader Funding have some rules that vary depending on the funded program that you choose. Many services have rules that can distract from the actual skill of your trading. They keep things nice and simple. Prove you can profit, don’t hit your drawdown and trade for at least 5 days. That’s all there is to it. Unlike some other prop firms, you can pick the when you trade, and you can do it during holidays, special events, and market-moving news events. Simply refrain from the following:
- Hitting your trailing drawdown.
- When using more than the allowed contracts.
- Holding trades beyond 1 minute before the close of the market.
- Trade for someone else.
- Someone else trading for you.
Trading Days
Any day on which you make a trade is a trading day. Calendar days, also referred to as non-trading days, do not count. Product-specific market hours vary, and it is the traders’ responsibility to be aware of them. A normal trade day lasts from 5 pm (CST) to 4 pm (CST).
An illustration would be if you bought a 1-step evaluation that needs at least 5 trading days. There is a minimum required number of trading days for this evaluation. In order to pass your evaluation, you must continue trading for at least an additional two days after reaching your profit target after three days of trading.
Overnight Trading
No overnight trade holding is permitted. One (1) minute before the market closes, all deals must be closed. Market closing hours vary depending on the instrument. The trader must be aware of these and close out any open positions before the relevant market closes. Your Evaluation or Elite account will fail if you hold a position for more than one minute after the market closes. If you keep a position open in your Elite account after the market closes, your account will be closed and all gains forfeited.
Positions
You are not permitted to open more positions than are allowed at any given time. Your evaluation or Elite account will fail if you do this. In your Elite account, exceeding your maximum permitted holdings will result in the forfeiture of winnings and account closure. You can trade micros. One little or one mini is equal to ten micros.
Payouts
You must have traded for at least 20 distinct trading days to be eligible for your first reward, and your trailing drawdown must have reached your starting balance plus 100. A minimum of 15 distinct trading days must have passed since your first payout in order to qualify for the second payout. For the third payout and later, you must have traded for a minimum of 10 separate trading days since the previous payout.
- 1st pay out requires 20 days
- 2nd pay out requires 15 days
- 3rd pay out requires 10 days
One payout request per calendar month is allowed from each trader. Payouts that have been approved are processed every Friday. Your account will be cancelled if the amount of your payout leads it to fall below the required minimum balance.
Elite Consistency Rule
Elite Trader Funding wants to equip traders with the information and resources they need to design and implement long-term, reliable trading strategies, make wise financial decisions, and invest. As a result, ETF’s policy states that no more than forty (40) percent of the total balance in a trader’s Elite account may come from a single trading day at the time of a withdrawal request. All Elite traders who use the prop firm services are subject to this policy in the same manner, without distinction.
Extension
Consider a scenario in which you performed well in your Fast Track evaluation but fell short of your profit goal within the allotted number of days. If so, you can “roll” your evaluation into a discounted 1-step evaluation of the same size. Your trader dashboard will display a notification with instructions for doing this.
After your Fast Track evaluation expires, you have five days to convert it into a one-step evaluation. You will have to start over in a new evaluation of your choice if you don’t complete it within the allotted five days. This rule does not have any exceptions.
Reset
Don’t panic if you fail the evaluation phase, it happens. It’s crucial to persevere and take lessons from it. To try again, you may either sign up for a new evaluation or reset your current one. In your trader dashboard, there is a “reset” button for any account that qualifies for one. Fast track assessments cannot be retaken. The reset fee is $75.
Platforms
There is a very impressive choice of professional trading platforms that you can choose from. They have plenty of trading tools for building trading strategies as simple or as complex as you need them to be. It would be great if they could also support the MetaTrader platform which so many retail traders are already familiar with. If you are looking for a prop firm with MetaTrader, The Funded Trader are worth consideration.
The NinjaTrader, Tradovate, TradingView and Rithmic based platforms are supported amongst others which you can see in the list below:
- AMPMC.NET
- ATAndromeda
- ATAndromeda+
- ATAS
- ATBase
- Bookmap
- EdgeProX
- eSignal
- Finamark
- InsideEdge Trader
- Investor/RT
- Jigsawdaytradr
- Jigsawdaytradr+
- MotiveWave
- MultiCharts
- MultiCharts+
- NinjaTrader
- OmneWebSocketServer
- OptimusFlow
- OverCharts
- PhotonTrader
- QScalp
- Quantower
- Rithmic
- SC_DTCBridge_API+
- Sierra Chart
- TA Trader
- TigerTrade
- Trade Navigator
- TradeWatcher
- Tradovate
- TradingView
- VolFix
- Volumetrica
Instruments
Elite Trader Funding has a good choice of futures that you can trade including Interest Rate Futures, Equity Futures, Agriculture Futures, Currency Futures, Metal Futures, Energy Futures and Cryptocurrency Futures. It would be good if they could add some individual stocks like some other prop firms such as SurgeTrader. The available exchanges are the CME, CBOT, NYMEX, COMEX and Small Exchange.
Free Trial
Elite Trader Funding provide a 14-day free trial so you can practise trading on a simulated account in preparation for your review. A 250K Fast Track account will be made available to you for your trial. A trial account does not meet the requirements for an elite account. Each trader is only permitted one trial.
| Maximum capital | $300,000 |
| Profit split | Up to 80% |
| Scaling | No |
| News trading | Yes |
| Weekend trading | No |
| Automated trading | No |
| Free trial | Yes |
| Maximum leverage | N/A |
A wide range of trading accounts, including unique choices like fast-track accounts and static drawdown accounts, are offered by Elite Trader Funding. This makes them a compelling alternative to the well-known funded account providers such as FTMO, especially when combined with their lack of trading restrictions. You can have up to 20 active accounts, whether it’s Evaluations or Elite accounts which gives you plenty of opportunity to test different strategies and scale up your earnings.
