EverTrader Review
EverTrader is a proprietary trading firm established in 2022. It offers funded trading accounts through various evaluation programs. The firm provides traders with virtual capital up to $200,000, scalable to $1 million through its Progressive Plan.
EverTrader Review
Summary
EverTrader is a proprietary trading firm established in 2022, offering funded trading accounts through a comprehensive evaluation program. The company provides traders with virtual capital ranging from $10,000 to $200,000, with the potential to scale up to $1 million through their Progressive Plan. EverTrader’s evaluation process consists of two phases: a 2 Phase Evaluation and a 1 Phase Evaluation, both designed to assess traders’ risk management skills and profitability.
The firm stands out with its unique EverStation Pro platform, which is integrated with TradingView charts and available as a web trader, desktop app, and mobile app. EverTrader also offers the EverTrader Analyst app, providing traders with institutional-level market data and analysis tools. The company places a strong emphasis on trader education, offering comprehensive resources through the EverTrader Academy, which is accessible for up to 180 days before live trading begins.
EverTrader’s trading conditions are notably flexible, allowing overnight and weekend positions, as well as news trading. The firm offers a competitive profit split ranging from 80% to 90%, with the potential for improvement through their Progressive Plan. Payouts are typically monthly but can be adjusted to bi-weekly upon request. One of EverTrader’s unique selling points is its refundable fee structure, where the one-time evaluation fee is fully refunded with the trader’s first withdrawal.
The company provides a range of additional features to support traders, including a professional trading journal, seven-day-a-week customer support, and access to various financial instruments such as stocks, indices, forex, and commodities. With its focus on trader development, flexible conditions, and innovative tools, EverTrader aims to create a comprehensive environment for both novice and experienced traders to thrive and potentially manage accounts up to $1 million.
Let’s examine EverTrader’s specific features, conditions, and programs to gain a more comprehensive understanding of this prop firm’s offerings.
EverTrader Review
Programs
EverTrader offers two distinct evaluation programs designed to assess and support traders of varying skill levels and trading styles. These programs provide different paths to becoming a funded trader, catering to individual preferences and trading approaches.
2 Phase Evaluation
The 2 Phase Evaluation program is EverTrader’s comprehensive assessment designed to thoroughly test a trader’s skills and risk management abilities. This program is available for account sizes ranging from $10,000 to $200,000, allowing traders to choose a level that matches their experience and capital requirements. The evaluation consists of two distinct phases, each with its own profit target and risk parameters.
In Phase 1, traders are tasked with achieving a 10% profit target without any time limit, providing ample opportunity to demonstrate consistent performance. The program imposes a maximum loss limit of 10% of the initial account balance and a daily loss cap of 5%, encouraging prudent risk management. Traders must complete a minimum of 3 trading days during this phase, ensuring a reasonable sample of trading activity.
Phase 2 presents a slightly different challenge, requiring traders to reach a 5% profit target, again without a time constraint. The risk parameters remain consistent with Phase 1, maintaining the 10% maximum loss and 5% daily loss limits. The minimum trading day requirement stays at 3 days for this phase as well. This two-tiered approach allows EverTrader to assess a trader’s ability to perform consistently under varying profit objectives.
1 Phase Evaluation
The 1 Phase Evaluation offers a more streamlined path to becoming an EverTrader, condensing the assessment into a single phase. This program is also available for account sizes ranging from $10,000 to $200,000, providing flexibility for traders of different capital levels. The single-phase structure may appeal to traders who prefer a more straightforward evaluation process.
In this program, traders must achieve a 10% profit target within an unlimited time frame, allowing for a balance between performance and consistency. Unlike the 2 Phase Evaluation, this program employs a trailing drawdown system for risk management. The maximum drawdown is set at 6% of the account balance, which adjusts as the account value changes, providing a dynamic risk control mechanism. Additionally, there is a maximum daily drawdown limit of 3%, encouraging intraday risk management. The 1 Phase Evaluation requires a minimum of 2 trading days, which is slightly less than the 2 Phase program. This reduced minimum trading day requirement potentially allows for faster completion, which may be attractive to traders confident in their abilities to meet the profit target quickly.
Both programs share some common features that make EverTrader’s offering comprehensive and trader-friendly. Successful traders in either program receive an attractive 80-90% profit split, providing significant earning potential. The fee structure is identical for both programs, ranging from $109 for a $10,000 account to $1,090 for a $200,000 account. This fee is fully refundable upon the trader’s first payout after successfully completing the evaluation, effectively making the program free for successful traders.
EverTrader Review
Conditions
EverTrader has established a set of conditions for their traders to ensure a balance between opportunity and risk management. Let’s explore these conditions in detail.
Drawdowns
The drawdown rules vary by program. For the 2 Phase Evaluation, the maximum loss is 10% of the initial account balance. This applies to all stages of the program. For example, with a $100,000 account, the equity must not fall below $90,000. The 1 Phase Evaluation uses a trailing drawdown system set at 6% of the account balance. This adjusts with the account balance but never exceeds the initial capital amount. The Flash Evaluation has the strictest drawdown limit at 4% of the original account balance.
Payouts
EverTrader offers an 80-90% profit split for traders. By default, payouts are scheduled monthly, but traders can request bi-weekly payouts by contacting support. The payout is sent within 24 hours of the request being approved. Traders manage their withdrawals directly from the EverTrader platform.
Trading Days
The minimum trading days requirement differs for each program. The 2 Phase Evaluation requires at least 3 trading days in each phase. The 1 Phase Evaluation mandates a minimum of 2 trading days. The Flash Evaluation has the lowest requirement with just 1 mandatory trading day. A trading day is defined as a day on which at least one trade is opened.
Trading Strategies
EverTrader offers considerable flexibility when it comes to trading strategies. Traders are free to choose their own trading style and strategies, as long as they are legitimate, applicable in real market conditions, and comply with EverTrader’s terms and conditions. The firm explicitly warns against using gambling strategies. During the evaluation phase, there are no restrictions on trading macroeconomic news. However, once a trader becomes an official EverTrader, some limitations apply. While trades can be held over news events, opening or closing positions is not allowed within 6 minutes before and 6 minutes after a high-impact news report is issued. EverTrader allows overnight and weekend position holding, which accommodates various trading styles including swing trading. It’s worth noting that the use of Expert Advisors (EAs) is not permitted on the EverStation Pro platform.
Scaling Plan
EverTrader offers a Progressive Plan designed to foster long-term partnerships with successful traders. This scaling plan allows consistent performers to increase their account size and improve their profit split over time. To qualify for the Progressive Plan, traders must achieve at least 10% profit (2.5% per month) for 4 consecutive months, make at least 2 withdrawals during this period, and maintain an account balance higher than the initial balance at the time of scale-up. Upon meeting these conditions, EverTrader increases the initial account size by 25% every 4 months. The first increase also improves the profit distribution from 80/20 to 85/15. With the second increase, the payout ratio improves further to 90/10. This process continues, with the account size growing by 25% every 4 months, up to a maximum allocation of $1 million.
Refund Policy
The one-time fee for joining the program is fully refundable. Traders receive this refund with their first withdrawal. There are no recurring fees after the initial payment. The refundable fee varies based on the account size.
EverTrader Review
Features
| Maximum capital | $200,000 |
| Profit split | Up to 90% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | No |
| Free trial | No |
| Maximum leverage | 1:100 |
EverTrader provides a range of features designed to support traders in their journey towards success. Here’s a detailed look at what they offer:
Trading Platform
EverTrader uses two platforms;
- EverStation Pro platform: The EverStation Pro platform, introduced in April 2024, which is equipped with a variety of tools to enhance the trading experience. This platform integrates TradingView charts, offering advanced charting capabilities. It’s accessible as a Web Trader, Desktop app, and Mobile app, ensuring traders can manage their trades from anywhere. The platform supports one-click trading and includes features like mobile apps for on-the-go access.
- EverTrader Analyst app: The EverTrader Analyst app is a standout feature packed with unusual real-time market data. This tool is designed to help both intraday and swing traders identify trading opportunities. It provides traders with unique insights and analysis that can give them an edge in the market.
Dashboard
The EverTrader dashboard is designed to give traders a comprehensive overview of their trading activities. It provides real-time updates on account performance, including metrics like profit and loss, drawdown levels, and trade history. The dashboard also integrates seamlessly with the EverStation Pro platform, allowing traders to monitor their progress and make informed decisions based on current market conditions. This centralized hub ensures that all critical information is readily accessible, helping traders stay organized and focused on their trading goals.
Support
EverTrader offers customer support seven days a week, ensuring that assistance is available whenever traders need it. Traders can typically reach out via email or live chat for help with any issues or questions they might have.
Knowledge Base
To help traders improve their skills, EverTrader provides access to the EverTrader Academy. This educational resource is available for up to 180 days before you start trading live, covering everything from basic trading concepts to advanced strategies and platform tools. This comprehensive approach aims to equip traders with the knowledge they need to succeed.
Broker Integration
EverTrader simplifies the trading process by handling broker integration through their EverStation Pro platform. This means traders don’t need to worry about finding a separate broker, as all trades are executed within their provided environment.
Trading Journal
A professional trading journal is provided to help traders track their performance, make notes, and review past trades. This tool is crucial for traders looking to analyze and improve their trading strategies over time.
Institutional-Level Data
EverTrader provides institutional-level data through the EverTrader Analyst app, giving traders access to unusual real-time market data to identify trading opportunities.
Affiliate Program
EverTrader offers an attractive affiliate program that allows partners to earn commissions by referring new traders to the platform. The program features two tiers: Starter and Professional. Starter affiliates earn a 12% commission for 1-49 referrals and can offer a 5% discount code, while Professional affiliates earn a 15% commission for 50+ referrals and can provide a 10% discount code. As an added incentive, affiliates who bring in 50 monthly referrals receive a free 50K EverTrader Evaluation account, while those who refer 100 monthly customers get a free 100K account. EverTrader also offers to match existing progress for affiliates migrating from other prop firms. The program emphasizes high commissions, free evaluation accounts, and rewards for each recommended trader, making it an attractive option for those looking to monetize their network or community in the trading space.
EverTrader Review
Conclusion
Wrapping up, EverTrader offers a compelling package for aspiring prop traders. With its EverStation Pro platform, EverTrader Analyst app, and comprehensive Academy, it provides robust tools for trading and learning. The Progressive Plan and flexible trading conditions are notable strengths. However, traders should be mindful of drawdown rules and performance requirements. Overall, EverTrader presents a solid opportunity for those willing to trade responsibly and consistently.
EverTrader Review
