Take Profit Trader Review
Take Profit Trader provide funded accounts up to $150,000 with an 80% profit share if you can trade consistently and reach profit targets without hitting the drawdown limits.
Take Profit Trader is a one-step, no-nonsense proprietary trading firm. They have created a system and procedure that enables you to perform to the best of your ability as a trader. Their technology accelerates the process of achieving sustained profits with Take Profit Trader’s funds and has no gimmicks or extraneous features. They put up all of the technologies and accounts so there is no tedious account setup procedures and documentation.
Process
The funded traders process with Take Profit Trader is very straightforward. You just need to choose a suitable funded account and show you have the trading skills required. If things go well, you can get the lion’s share of any profits you generate.
- Register: Choose you preferred asset class, with stocks and futures markets being options. Specify the amount of capital you’ll manage, choose a subscription that best suits your needs, and then continue.
- Trade: Achieve a profit goal while demonstrating your ability to adhere to a basic set of risk guidelines. Once your abilities are confirmed, you are financed to trade.
- Earn: Once accepted, start earning with a funded trading account using real money right away without any delays.
- Payout: Choose where you want your money paid and withdraw your earnings, keeping a generous 80% of profits.
Programs
Choose a program based on your requirements as a trader. You will receive this amount of money in your account for both your Test and Pro Accounts. The risk management system and rules will make sure you stay disciplined during your trades. All trading involves risk but the company will take any losses on the pro account. Whilst the 80% profit split is the around the industry average, other prop firms such as FTMO offer 90%.
Test Accounts
By default, the Test accounts are displayed first when you join Take Profit Trader. Test accounts are how they assess your trading abilities. It serves as a “trial” for a pro account.
You may view the account numbers for each of your test accounts in the Control Center. Any of these accounts can be clicked on to display the trading dashboard for that specific account.
You can always discover those accounts under the first account if you’ve reset one or more accounts.
Pro Accounts
After passing a trading test, you are awarded a Pro Account. These accounts are where you get your money. You can find the Pro Account tab at the top of the website if you look closely. The credentials and licence key for your pro account are going to be the same as you used for your test account.
By simply clicking back and forth, you may quickly switch between your “Test” accounts and “Pro” accounts. They permit each Pro Account to be reset three times. This prevents traders from having to repeat the testing procedure.
Profit Target
There is a specific profit target at Take Profit Trader for every size of account. The profit targets are very realistic and pretty much what you would expect from any prop firm. You may get the profit target for each account size by looking at the table below.
| Futures Account Size | Maximum Contracts | Profit Target |
| $25,000 | 3 Contracts | $1,500 |
| $50,000 | 6 Contracts | $3,000 |
| $75,000 | 9 Contracts | $4,500 |
| $100,000 | 12 Contracts | $6,000 |
| $150,000 | 15 Contracts | $9,000 |
Profit Split
The profit split is 80/20, where the trader keeps 80%. Subject to the table below, a trader is permitted to withdraw earnings at any moment from the buffer zone; however, doing so will result in account termination. You can take your buffer out whenever you want if an account has already been disabled.
| Profits Taken Inside Buffer Zone | Amount of Buffer Received |
| <60 days since account opening | 50% |
| >60 days since account opening | 80% |
Observe that there are 60 days in the calendar, with the last day being the last trading day for your pro account. The maximum drawdown allowed on your account is the buffer.
Position Size
Depending on the size of the account you choose to trade with, your maximum position size is a fixed number of contracts (or shares for stocks). Please be aware that 10x position size is permitted for Micro goods. For instance, you can trade up to 60 micro contracts on the $50K account. You can see the maximum position sizes in the table below.
Futures
| Futures Account Size | Maximum Position Size |
| $25,000 | 3 Contracts |
| $50,000 | 6 Contracts |
| $75,000 | 9 Contracts |
| $100,000 | 12 Contracts |
| $150,000 | 15 Contracts |
Stocks
| Stock Account Size | Maximum Position Size |
| $50,000 | 500 Shares |
Daily Loss Limit
Being an effective trader requires effective risk management. One of the primary risk management criteria is a trader’s capacity to stay under a daily loss cap. The Take Profit Trader daily loss limit is fair and encourages sensible money management. The daily loss caps for each account size are listed below.
Futures
| Futures Account Size | Maximum Position Size | Profit Target | Daily Loss Limit |
| $25,000 | 3 Contracts | $1,500 | $500 |
| $50,000 | 6 Contracts | $3,000 | $1,100 |
| $75,000 | 9 Contracts | $4,500 | $1,600 |
| $100,000 | 12 Contracts | $6,000 | $2,200 |
| $150,000 | 15 Contracts | $9,000 | $3,300 |
Stocks
| Stock Account Size | Maximum Position Size | Profit Target | Daily Loss Limit |
| $50,000 | 500 Shares | $4,000 | $300 |
Please be aware that you must maintain a record of your commissions. RTrader Pro has a column that will instantly display the value of your daily commission totals. For all items, the commission is $5 per roundtrip per contract; for micros, it is $0.50 per roundtrip per contract.
Maximum Trailing Drawdown
The failure of end of day (EOD) trailing drawdown is the most frequent mistake in risk management. The good news is that this rule has been streamlined so that test accounts will now be calculated at the end of the day rather than in the middle of each trade.
Your account will be liquidated at any time if you reach the Minimum Account Balance. The value for EOD trailing drawdown is shown in the table below.
Futures
| Futures Account Size | Maximum Position Size | Profit Target | Daily Loss Limit | Maximum Trailing Drawdown |
| $25,000 | 3 Contracts | $1,500 | $500 | $1,500 |
| $50,000 | 6 Contracts | $3,000 | $1,100 | $2,000 |
| $75,000 | 9 Contracts | $4,500 | $1,600 | $2,500 |
| $100,000 | 12 Contracts | $6,000 | $2,200 | $3,000 |
| $150,000 | 15 Contracts | $9,000 | $3,300 | $4,500 |
Stocks
| Stock Account Size | Maximum Position Size | Profit Target | Daily Loss Limit | Maximum Trailing Drawdown |
| $50,000 | 500 Shares | $4,000 | $300 | $1,250 |
For a $25,000 account, the maximum trailing drawdown is $1,500. As a result, the initial balance of the account is $23,500 ($25,000 – $1,500 = $23,500).
The reason it is named “Trailing” is because as the account balance rises, it will “Trail” behind it. Your balance will increase to $26,000 and your minimum account balance will change to $24,500 if you make $1,000 on the first trading day.
When it exceeds $25,000, the minimum account amount will then “Trail” $1,500 behind your highest end-of-day account level. The minimum account balance will stop “Trailing” your account higher once it hits the account’s initial balance.
In pro accounts, realised and unrealized gains are included in the peak balance, which is used to calculate the trailing drawdown intraday. As you make gains, the drawdown will follow your account throughout the day, but it will not go above the initial value.
Trading Times
Take Profit Trader don’t typically permit people to hold onto a position from one day to the next. Every position can therefore only be filled within the following hours:
Futures from 6 p.m. to 5 p.m. Eastern. They use 5 PM Eastern time as the official end of the trading day. Any position held after 5 PM Eastern time will automatically result in a failed test and account closure.
Positions may be reopened at 6 p.m. eastern time and held through the next day, but anything started at or after that time will be considered a trade for the next day.
The time that your asset stops trading should always be known. Your account will be liquidated if your asset stops trading and you become “trapped” in a trade because the market is closed and you cannot get out of the trade before the 5 PM deadline.
Consistency Rule
Before funding traders, Take Profit Trader wants to make sure they are reliable. Although they are rather arbitrary, there are two standards for consistency that are very important to them.
They require you to provide trades over a minimum of 10 trading days in order to demonstrate your ability to generate revenue and control risk. A trading day is any trading day during which you hold a trade on an instrument on which you have reached your profit target for at least one minute.
For instance, placing a trade in the Mini Nasdaq (MNQ) to try to abide by the rule after passing your test trading Crude Oil (CL) and Nasdaq (NQ) will not qualify as a trading day.
This rule is in place to prevent a trader from opening a trade for a brief period of time, taking it off, and hoping that it qualifies as a trading day in order to accomplish their profit target. That’s just system-gaming, which is not what they want in a reliable trader.
Please be aware that while your test can last however long you desire, it must be authorised within the required minimum of days. To demonstrate your ability to handle risk, you must trade for an additional 8 days even if you hit your profit target in 2 days.
They understand that this regulation can be annoying, but it’s not enough to show that you can manage money by just trading and getting lucky occasionally.
Everyone can be fortunate. They ask that one trading day doesn’t exceed more than 50% of your overall gains in order to prevent the trading test from being considered like a lottery ticket. It’s not too difficult to follow this one:
Your highest profit day / Total profit = Consistency percentage.
For instance, 3K profit target with a $50,000 account. Your daily trading profit is $2,000 The remaining days bring in a total of $1,100. Using the formula, we can see that $2,000/$3,100 equals 65%. To qualify for a pro account, this percentage must be lower than 50%. In this case, you would have to earn an additional $901 in order to fall below the cut-off. $2,000/$4,001 = under 50%.
Although this rule is clearer, they don’t care if your pro account is consistent. They want you to earn as much money as you can. In your pro account, there is no such thing as a consistency rule.
Trading Robots
They do not allow high-frequency trading (HFT) where lots of trades are opened and closed in quick succession. To support this regulation, they require that you conduct no more than 50 trades each day in the Pro Accounts. Any filled deal, regardless of the magnitude of the trade, is an executed trade.
One performed trade, for instance, would be the purchase of one share (or contract) or 200 shares (or contracts), respectively. You count the sale of that position as one accomplished trade when you do so.
Yet if you purchase 200 shares (or contracts), sell half of them, and then sell the remaining half later, this would be considered 3 accomplished trades (one execution for the buy, and two executions for the sell).
News Trading
One minute before, during, and after the following news events, all pro accounts must be out of all positions and have no open orders:
- FOMC meeting minutes/announcements. These occur on Wednesdays at 2pm eastern time. (You are allowed to trade through FED speakers.)
- NON-Farm payroll (NFP). (These events occur on Friday’s at 8:30am eastern, once per month.)
- Consumer Price Index – CPI
Together with these newsworthy occurrences, the following newsworthy events are restricted for particular instruments:
- News event: crude oil inventories. Prohibited product – crude oil
- News event: bond auctions. Prohibited products – 10 year note, 30 year bond
Inactivity
Take Profit Trader want to see you trading because they care about money sitting on the side-lines. You will need to trade at least once per weekday to maintain the Pro Account (Sunday-Friday). A “traded-day” is one during which you maintain an open position on your most actively traded instruments for a minimum of one minute.
This makes sure that you are actively trading on your pro account, just as you were on your test account, and aren’t just “squatting” there.
Please be aware that they are aware that unexpected events can occur in life. Under specific life situations that you could encounter, they are willing to make an exception to this rule. If something has happened or will happen that prevents you from trading for a while, please get in touch with them.
Multiple Accounts
Several test accounts can be traded simultaneously, and copy trading is permitted. With copy trader, you can trade on both your pro account and your test accounts. You cannot, however, trade in more than one pro account at once. This implies that even if you pass many tests, they will only activate one pro account; the next pro account will not be authorised until the first pro account is cancelled or lost.
Withdrawals
You are able to start withdrawing money the moment you achieve your pro account. As soon as your profits reach the maximum drawdown, you can withdraw.
For instance, if your maximum drawdown is $2,000 and you have a $50,000 account. In this instance, you won’t be able to make withdrawals until you have a balance of $52,000. The remaining $52,000 may then be withdrawn whenever you like. The $2,000 buffer, which will be paid to you once the account is closed, is something they ask you to hold onto.
80% of your profits are yours to retain. There are no restrictions on the size of withdrawals. They will pass on the $50 wiring and processing fees if the withdrawal amount is $250 USD or less.
Payouts
Deel is being used by Take Profit Trader to manage withdrawals. Deel is a global provider of payment processing services, supporting over 180 different currencies and a wide range of withdrawal options. ACH, Bank Transfer, Wise, Coinbase, Payoneer, Paypal, Revolut, Mercury, and immediate card transactions (in certain locations) are some of the withdrawal options.
Account Reset
Consider a reset of your account as a second chance. Resetting typically occurs when you signed up for a test and things didn’t go as planned, or when you broke a rule and want to start over. Please be aware that doing this will simply offer you a brand-new account to work with and won’t affect the membership renewal date.
You can get a fresh trading test with the same characteristics and regulations as your initial trading test by clicking the “Reset Account” option on the dashboard next to your subscription. Alternatively, you can reset from the account information window.
Platforms
Each trader chooses their preferred platform when signing up at Take Profit Trader. You can choose from 3 CQG Data Feed trading platforms including NinjaTrader, Trading View and Tradovate. They support the Rithmic Data Feed with a whole host of platforms including R | Trader, MotiveWave, MultiCharts and AgenaTrader.
You can get market data level 2 for free for one exchange. Every additional will be $15 a month each. This is only for Rithmic accounts. They don’t offer market depth for CQG accounts at this moment.
Take Profit Trader offers the use one of the platforms in the table below:
| Platform | Free During Test (Yes/No) | Web/Mobile Based | Data Feed |
| TradingView | Yes* | Yes | CQG |
| NinjaTrader | Yes | No | CQG |
| Tradovate | Yes | Yes | CQG |
| Bookmap | No | No | Rithmic |
| MultiCharts | No | No | Rithmic |
| MotiveWave | No | No | Rithmic |
| Trade Navigator | No | No | Rithmic |
| R|Trader | Yes | Mobile | Rithmic |
| VolFix | No | No | Rithmic |
| ATAS | No | No | Rithmic |
| Investor R/T | No | No | Rithmic |
| Quantower | Yes | No | Rithmic |
| Finamark | No | No | Rithmic |
| Jigsaw Trader | No | No | Rithmic |
Most platforms you will need a license to use, but there are some offered for free. You might be able to switch platforms in the midst of your subscription depending on the asset class you select. You can contact support so that they can add any platforms you want to connect to that are not already listed.
Instruments
Take Profit Trader currently only offer futures trading. They do have plans to forex, stocks and cryptos in the future. For futures, most products on the CME, CBOT, NYMEX, and COMEX are permitted. Below is a list of futures instruments that can be traded on the platform.
| Symbol | Description | Exchange |
| 6A | Australian Dollar Futures | CME |
| 6B | British Pound Futures | CME |
| 6C | Canadian Dollar Futures | CME |
| 6E | Euro FX Futures | CME |
| 6J | Japanese Yen Futures | CME |
| 6N | New Zealand Dollar Futures | CME |
| 6S | Swiss Franc Futures | CME |
| CL | Crude Oil Futures | NYMEX |
| E7 | E-mini Euro FX Futures | CME |
| ES | E-mini S&P 500 Futures | CME |
| GC | Gold Futures | COMEX |
| GE | Eurodollar Futures | CME |
| HE | Lean Hog Futures | CME |
| HG | Copper Futures | COMEX |
| HO | NY Harbor ULSD Futures | NYMEX |
| LE | Live Cattle Futures | CME |
| M2K | Micro E-mini Russell 2000 Index Futures | CME |
| M6E | Micro EUR/USD Futures | CME |
| MCL | Micro WTI Crude Oil Futures | NYMEX |
| MES | Micro E-mini S&P 500 Index Futures | CME |
| MGC | Micro Gold Futures | COMEX |
| MNQ | Micro E-mini Nasdaq-100 Index Futures | CME |
| M6A | Micro AUD/USD Futures | CME |
| MYM | Micro E-mini Dow Jones Industrial Average Index Futures | CBOT |
| NG | Henry Hub Natural Has Futures | NYMEX |
| NKD | Nikkei/USD Futures | CME |
| NQ | E-mini Nasdaq-100 Futures | CME |
| QI | E-mini Silver Futures | COMEX |
| QM | E-mini Crude Oil Futures | NYMEX |
| QO | E-mini Gold Futures | COMEX |
| RB | RBOB Gasoline Futures | NYMEX |
| RTY | E-mini Russell 200 Index Futures | CME |
| SI | Silver Futures | COMEX |
| UB | Ultra U.S. Treasury Bond Futures | CBOT |
| YM | E-mini Dow ($5) Futures | CBOT |
| ZB | U.S. Treasury Bond Futures | CBOT |
| ZC | Corn Futures | CBOT |
| ZF | 5-Year T-Note Futures | CBOT |
| ZL | Soybean Oil Futures | CBOT |
| ZS | Soybean Futures | CBOT |
| ZN | 10-Year T-Note Futures | CBOT |
| ZQ | 30 Day Federal Funds Futures | CBOT |
| ZT | 2-Year T-Note Futures | CBOT |
| ZW | Chicago SRW Wheat Futures | CBOT |
Trader Dashboard
You may monitor the status of your test from your dashboard at Take Profit Trader. You can check if you’ve breached any of the Test Rules by clicking the “How Am I Doing” button.
You have successfully complied with the test rules if the rules have a green checkmark. If a rule has a red X next to it, that implies you broke the rule and have forfeited your account. You can, however, reset that account and carry on with your trading test using another account.
Your dashboard’s graph, which shows your account balance and minimum account balance, allows you to keep track of them. The top of the graph shows how many days in total you traded your account.
You can view your profit and loss, commissions, total number of trades, and number of contracts exchanged for each day that you trade your account in your daily journal.
Please be aware that your dashboard’s stats are updated once daily at 8:00 PM Eastern time. As a result, it will take some time for your dashboard to display the numbers from the previous trading day.
Wallet
One element that sets Take Profit Trader apart from the competition is the wallet feature. You will be paid in this manner, and you will deposit money into your bank account or PayPal account.
By clicking on your user avatar, you may access your wallet in the top right corner. You’ll be sent to the main wallet page when you click “Wallet.”
The amount of money you now have in your wallet, your whole history of deposits and withdrawals, and a button to deposit or withdraw money may all be found here.
You can use any amount of money in your wallet to make any transaction at TakeProfitTrader.com. This covers renewals, resets, and other things.
On each checkout page, you will have the choice to use funds from your wallet.
Your wallet can be used for payments in addition to withdrawals and deposits. “Wallet” is always one of the payment options when you buy a new membership or pay for a reset.
The payment method for your upcoming monthly subscription fees is also changeable. If you paid for your subscription using a credit card, you could convert to wallet if you have enough money in your account to cover the second monthly cost.
| Maximum capital | $150,000 |
| Profit split | 80% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | No |
| Free trial | No |
| Maximum leverage | 1:2 |
Overall, there is a lot to admire about Take Profit Trader. They have a solid prop trading service with professional trading platforms and a great selection of financial instruments to trade. The trading conditions and objectives are competitive, with achievable profit targets and acceptable drawdowns. However, they don’t allow automated trading nor do they provide the MetaTrader platforms or currency pairs.
In saying that, you do get a good all-round service and innovative technology for the cost which is worth bearing if you are confident you have a good trading strategy with sensible money management. If that is the case, then this prop firm is certainly worth consideration for trading futures.
