TakeProfitTrader Forex Broker

TakeProfitTrader Broker - Complete Information Guide

1. Broker Overview

TakeProfitTrader is a proprietary trading firm established in 2021, headquartered in Orlando, Florida, USA. The firm is privately held and focuses on providing funding for traders, allowing them to engage in futures trading without risking their personal capital. The primary market served by TakeProfitTrader is the futures market, catering to both novice and experienced traders seeking to enhance their trading skills and profitability.

Founded by James Sixsmith, a former ice hockey player, TakeProfitTrader was created to address the challenges faced by traders in accessing capital and receiving adequate education. The firm aims to foster a supportive trading environment where traders can thrive through a straightforward evaluation process that emphasizes skill verification and risk management.

TakeProfitTrader operates on a unique business model that combines funding opportunities with educational resources, offering a comprehensive approach to trader development. The firm focuses on empowering traders to achieve consistent profits while minimizing their financial risks. As a proprietary trading firm, TakeProfitTrader provides its traders with access to substantial capital, enabling them to trade various futures instruments.

2. Regulatory and Compliance Information

TakeProfitTrader operates as an unregulated entity, which means it is not overseen by major financial authorities like the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC). The firm is registered in the United States, but it does not hold any top-tier licenses typically required for financial institutions.

Although TakeProfitTrader itself is not regulated, it partners with licensed brokers and uses CME-approved data providers to facilitate trades. This structure ensures that traders' orders are executed in a compliant environment, even though the firm does not directly offer financial services.

To ensure the safety and security of client funds, TakeProfitTrader implements a client fund segregation policy, keeping traders' funds separate from the firm's operating capital. The firm adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to promote transparency and prevent illicit activities.

3. Trading Products and Services

TakeProfitTrader specializes in futures trading, offering a diverse range of futures instruments for its traders. The firm provides access to various futures contracts, including:

• Agricultural futures
• Equity futures
• Interest rate futures
• Foreign exchange futures
• Metals futures
• Energy futures

Currently, TakeProfitTrader does not support trading in forex, stocks, or cryptocurrencies, but there are plans to expand its offerings in the future. The firm frequently updates its product list and aims to introduce new trading instruments based on market demand.

TakeProfitTrader primarily focuses on retail trading services, providing individual traders with the opportunity to access funded accounts. The firm does not currently offer institutional client services or white-label solutions.

4. Trading Platforms and Technology

TakeProfitTrader supports various trading platforms, with a focus on user-friendly interfaces and advanced trading features. The platforms available include:

• NinjaTrader
• TradingView
• Tradovate
• R | Trader
• Quantower

These platforms provide traders with essential tools for market analysis, order execution, and risk management. However, TakeProfitTrader does not offer support for MetaTrader 4 or MetaTrader 5, which are popular among many traders for their robust analytical capabilities.

The firm utilizes a web-based trading environment, allowing traders to access their accounts from any device with internet connectivity. Additionally, mobile applications are available for some platforms, providing traders with the flexibility to monitor their accounts and execute trades on the go.

TakeProfitTrader operates on a no-frills execution model, focusing on delivering efficient trade execution without unnecessary complexities. The firm's servers are strategically located to ensure low latency and fast order processing, enhancing the overall trading experience.

5. Account Types and Trading Conditions

TakeProfitTrader offers a variety of account types tailored to different trading needs and preferences. The main account types include:

• Test Account: Used for evaluation, allowing traders to demonstrate their skills in a simulated environment.
• Pro Account: Available after passing the evaluation, enabling traders to access funded accounts with real capital.
• Pro+ Account: An upgraded version of the Pro Account, offering additional benefits such as a higher profit split.

The standard conditions for accounts at TakeProfitTrader include:

• Minimum Deposit: Starting from $150 for the smallest account size.
• Profit Split: Traders retain 80% of their profits in Pro Accounts and 90% in Pro+ Accounts.
• Leverage: The trading account balance is used as buying power, effectively resulting in a 1:1 leverage ratio.
• Minimum Trade Size: Specific to account type, with a maximum number of contracts allowed based on account size.
• Overnight Fees: Positions are not allowed to be held overnight, aligning with the firm's risk management policies.

6. Fund Management

TakeProfitTrader provides multiple funding methods to facilitate deposits and withdrawals. The supported deposit methods include:

• Bank transfers
• Credit cards
• E-wallets such as PayPal and Wise

The minimum deposit requirements vary by account type, with the lowest starting at $150. Deposits are processed promptly, typically within one business day.

Withdrawal options include bank transfers, PayPal, and other e-wallets. TakeProfitTrader allows traders to withdraw their profits immediately after reaching the buffer zone, with no restrictions on the withdrawal amount. However, a fee of $50 applies to withdrawals of $250 or less.

7. Customer Support and Educational Resources

TakeProfitTrader emphasizes exceptional customer service, offering multiple support channels, including:

• Live chat
• Email support
• Phone support

The customer service team is available during business hours, with live chat support operational from Monday to Friday. The firm also provides educational resources, including webinars, tutorials, and market analysis services, to help traders improve their skills and knowledge.

Traders can access daily market analysis, research reports, and trading tools such as calculators and economic calendars. These resources are designed to enhance traders' understanding of the markets and improve their trading performance.

8. Regional Coverage and Restrictions

TakeProfitTrader primarily serves clients in the United States and aims to expand its reach into other regions. However, the firm does not accept clients from certain countries due to regulatory restrictions, including:

• Afghanistan
• Canada
• China
• North Korea
• Iran

These restrictions are in place to comply with international regulations and ensure that the firm operates within the legal framework of the jurisdictions it serves.

In summary, TakeProfitTrader is a promising proprietary trading firm focused on futures trading, providing traders with the opportunity to access significant capital without personal financial risk. With its straightforward evaluation process, robust educational resources, and commitment to trader success, TakeProfitTrader stands out as a viable option for traders looking to enhance their trading journey.