The Prop Trade Prop Firm Account Types and Differences

The prop trade account types and differences offer various account kinds to suit diverse trading styles and traders’ needs. The Prop Trade gives traders the chance to participate in funded trading challenges. To accommodate traders with varying needs and degrees of experience, prop firms such as The Prop Trade provide a variety of account types. This article will examine The Prop Trade account types and differences.

The Prop Trade Prop Firm Account Types

• Express (1-Phase)
• Standard (2-Phase)
• Pro (2-Phase)

Maximum Account Allocation

The maximum account allocation across all accounts are;

• $5,000
• $10,000
• $25,000
• $50,000
• $100,000

The Prop Trade Prop Firm Account Types and Differences

Express (1-Phase)

Step 1

• Profit Target – 12%
• Maximum Daily Drawdown – 4%
• Maximum Overall Drawdown – 7%
• Challenge Duration – Unlimited
• Leverage – Up to 1:50
• Minimum Trading Days – 3 Days
• News trading is allowed
• Weekend position holding is allowed
• There is no stop loss
• No max lots
• Inactivity allowance – 30
• Payout Split – None

Funded Accounts

• Profit Target – None
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:50
• Minimum Trading Days – 3 Days
• News trading is allowed
• Weekend position holding is allowed
• There is no stop loss
• Max lots is allowed
• Inactivity allowance – 30
• Payout Split – Up to 90/10

Standard (2-Phase)

Step 1

• Profit Target – 10%
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:100
• Minimum Trading Days – 3 Days
• News trading is not allowed
• Weekend position holding is allowed
• There is no stop loss
• No max lots
• Inactivity allowance – 30
• No Payout Split

Step 2

• Profit Target – 5%
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:100
• Minimum Trading Days – 3 Days
• News trading is not allowed
• Weekend position holding is allowed
• There is no stop loss
• No max lots
• Inactivity allowance – 30
• No Payout Split

Funded Accounts

• Profit Target –  None
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:50
• Minimum Trading Days – 3 Days
• News trading is allowed
• Weekend position holding is allowed
• There is no stop loss
• There is max lots
• Inactivity allowance – 30
• Payout Split – 90/10

Pro (2-Phase)

Step 1

• Profit Target – 10%
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:50
• Minimum Trading Days – 3 Days
• News trading is allowed
• Weekend position holding is allowed
• There is no stop loss
• No max lots
• Inactivity allowance – 30
• No Payout Split

Step 2

• Profit Target – 5%
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:50
• Minimum Trading Days – 3 Days
• News trading is allowed
• Weekend position holding is allowed
• There is no stop loss
• No max lots
• Inactivity allowance – 30
• No Payout Split

Funded Account

• Profit Target – None
• Maximum Daily Drawdown – 5%
• Maximum Overall Drawdown – 10%
• Challenge Duration – Unlimited
• Leverage – Up to 1:50
• Minimum Trading Days – 3 Days
• News trading is allowed
• Weekend position holding is allowed
• There is no stop loss
• There is max lots
• Inactivity allowance – 30
• Payout Split – Starts from 90/10

Implication of Prop Trade Account Types

The Prop Trade account types and differences have various ramifications for traders:

Adaptability and Availability

• Numerous Evaluation Options: To accommodate varying degrees of experience and risk tolerance, traders can select from a variety of evaluation procedures.
• Instant Funding: For seasoned traders, the instant funding option provides instant access to a funded account.

Risk Management 

• Simulated Trading: Although The Prop Trade’s accounts are probably simulated, they offer a low-risk setting where traders can practice their techniques without running the danger of losing money.
• Realistic Market Conditions: The accounts provide a realistic trading experience by reflecting actual market conditions.

Training Opportunities 

• Educational Value: The Prop Trade offers training accounts so that traders can get experience without having to risk their own money.
• Absence of Live Trading Practice: Traders do not, however, get to practice trading with real money in the real world.

In conclusion

A variety of options are available with the Prop Trade’s account types. With choices for assessment procedures and immediate payment, these accounts give traders accessibility and flexibility.

Firms like The Prop Trade will have to adjust to shifting trader preferences and regulatory needs as the prop trading sector develops further. Examining the account kinds, firm model, and overall trading experience provided is crucial for traders thinking about The Prop Trade or any other prop firm. Knowing these elements will enable traders to choose the firm that most closely matches their trading objectives and risk tolerance.

In conclusion, even though The Prop Trade’s account types could have benefits like affordability and flexibility, their inability to provide actual trading experience emphasizes how crucial it is to choose a prop trading company carefully.

Frequently Asked Questions

What Role Does Consistency Play In Prop Trading Accounts?

• Consistency Rules: Traders must maintain consistent trading performance to continue accessing funded accounts.
• Risk Management: Consistency is key to managing risk effectively and meeting profit targets.

How Do Different Prop Firms Vary In Their Account Types?

• Account Sizes: Varying from small to large sums, depending on the firm and account type.
• Profit Targets: Some firms have no monthly profit targets, while others require specific percentages.
• Drawdown Limits: Maximum and daily drawdowns differ across firms and account types.
• Profit Splits: The proportion of profits retained by traders can vary between firms.