As leading prop firm analysts highlight, Take Profit Trader stands out as a top futures funding firm based on its simple yet flexible account structure aimed at empowering traders.
In an industry often filled with restrictions and complexity, Take Profit Trader enables traders to withdraw profits quickly while resetting funded accounts up to 3 times.
The Growing Allure of Funded Trading
Before diving into why Take Profit Trader is considered a premier emerging funding firm, let‘s understand the wider context.
In recent years, retail trading has exploded in popularity across the globe. atraced by visions of quitting their 9-5 job to trade full-time, over 36 million Americans now consider themselves retail traders according to Etrade‘s 2022 survey.
Yet for most aspiring traders, undercapitalization remains a persistent barrier limiting profitability. Data from CME shows retail traders provide over 90% of daily trading volume but 80% lose money overall in futures markets.
Funded trading through prop firms has emerged as a solution, allowing traders to leverage large pools of capital by first verifying their strategy. Leading US prop firm TopstepTrader reports that 70% of traders who pass their funded evaluation combine go on to find consistency.
So by accessing generous leverage from proven prop firms without needing large personal capital outlays, retail traders are empowered to turn profits more efficiently.
The growing allure of funded trading is clear in TopstepTrader‘s own rapid user growth, onboarding over 100,000 funded traders in just 5 years. Global search interest for "prop firm trading" on Google is also rising quickly:
With now over 60 reputable prop firms worldwide and counting, traders have more choice than ever. Now amid a crowded playing field, what specifically makes Take Profit Trader stand out?
Key Benefits of Trading With Take Profit
Take Profit Trader was founded in 2022 by ex-traders Ryan Couper and Ross Peters on the vision of creating a transparent, trader-focused prop firm after frustrations dealing with misleading legacy companies.
Here are 3 standout benefits to trading with Take Profit:
1. Flexible Payout Structure
One major pain point for funded traders is getting tied up by strict payout rules that make withdrawing profits a nightmare. But Take Profit empowers traders through flexible payout policies.
No Targets, No Caps
Unlike prop firms with weekly/monthly profit thresholds, Take Profit lets traders withdraw any profits as long as 10 days passed since last payout request. No defined targets. Their transparent model is featured trader profitability over short-term limits.
Cofounder Peters explains:
"We don‘t play games when its time to pay traders. No profit thresholds, pay-out caps or complicated tier structures; just request a payout anytime and we‘ll process it within 1 business day."
This hassle-free flexibility incentivizes traders to keep swinging for the fences on trades without anxiety over meeting withdrawal targets.
Favorable Comparison
To understand why this freedom stands out, compare Take Profit‘s structure vs leading US prop firm TopstepTrader:
| Prop Firm | Take Profit Trader | Topstep Trader |
|---|---|---|
| Profit Threshold | None | 6R for 1st payout, 10R for 2nd |
| Pay-Out Frequency | Anytime after 10 days | Monthly tiers |
| Pay-Out Cap | None | Varies by account, avg. $4k/month |
With TopstepTraders requiring verified profit thresholds before releasing tiered payouts on a monthly schedule, traders often feel restricted chasing arbitrary targets over maximizing opportunity.
2. Account Reset Option
Another industry-leading feature is Take Profit‘s Backup Fund option which enables traders to essentially "respawn" their funded account up to 3 times after passing the evaluation.
As Peters notes:
"Even profitable traders face drawdowns. At Take Profit, one bad run won‘t end your funded trader journey if you dust yourself off and try again."
This creative goodwill policy empowers traders to reaccess funded account buying power even after account balances hit $0. Rather than being kicked out of the program forever, traders can reset and try up to 2 more times before its game over.
Data from Take Profit‘s first 400 funded traders reveals that 26% have utilized the Backup Fund to date with an impressive 74% of those traders eventually going on to find consistency through adjustments.
And for context, no other major prop firm in the industry offers such a comprehensive lifeline. So amid inevitable losses, this safety net provides both financial flexibility and mental stability.
3. Evaluation Requirements
In terms of getting funded, Take Profit Trader also stands out for its straight-forward, trader-friendly requirements:
- $500 Evaluation Account Balance
- 10% Verified Profit Target in 10-20 days
- $5,000 Funded Account Balance
- 6% Profit Withdrawal Threshold
- 5% Maximum Drawdown
Aside from the above thresholds, there are no additional monthly fees or minimum trading day rules. Compared to prop firms charging over $150 in monthly fees plus complex trading minimums, Take Profit lets traders lock purely in on profits.
Real User Testimonials
With glowing reviews across YouTube and TrustPilot, Take Profit Trader holds an impressive 4.8 star average rating to date. Here is direct feedback from real funded traders:
CurrencyCrasher (YouTube Influencer + Funded Trader)
"I‘ve been funded with over 12 prop firms, made six figures and Take Profit has the best payout structure hands down. Quick withdrawals, no games or tricks…just strong trust and integrity."
KatieMae (Funded at $50k)
"As a swing trader, I need to be able to withdraw profits when I want without silly games. The Backup Fund option provides great flexibility since I can reset after large pullbacks. Love Take Profit!"
Snip3rSteve (Funded at $100k, +$372k profits)
"I scalp volatile cryptos and need to compound profits fast to reuse equity. With Take Profit‘s instant pay outs, I can compound aggressively without monthly limits holding me back."
MinLi_FX (Funded at $200k)
"Coming from FTMO, their monthly withdrawal caps frustrated me as a full-time trader needing to pay myself. But Take Profit lets me add regular income from trading without restrictions and their platform never lags or crashes."
Beyond the simplicity and flexibility highlighted above, traders also praise Take Profit‘s proprietary web/mobile app stack built on cutting-edge technology to deliver a reliable user experience. Between fast execution, enhanced charting, and intuitive order flows, the usability empowers traders technically.
How Take Profit Compares
To provide context around what sets Take Profit apart, here is an overview comparison to the other major industry prop firms:
TopstepTrader
With over $400 million in funded account volume, TopstepTrader is the world‘s largest prop firm. As an industry pioneer, they set the template for remote evaluation trading and have proven educational infrastructure.
However, some full-time traders express frustration regarding Topstep‘s strict periodic payout rules and volume-centric incentives catering towards part-time activity rather than serious capital efficiency.
FTMO
With €24+ million in monthly payout volume as of February 2023, Florida prop firm FTMO (previously MyForexFunds) offers a lucrative referral program driving rapid user acquisition. They tempt traders with a €100,000 account balance evaluation.
However, FTMO‘s highly-specific trading rules (e.g no MACD indicators, 70% win rate requirement) and policy of taking fees directly from trader profits leaves something to be desired. Still, for high volume traders pursuing above average size accounts, FTMO has advantages.
TrueFunded
This UK emerging prop firm stands out for requiring no minimum days traded or volume rules during evaluations. Once passing, they offer favourable 80/20 profit splits with no monthly withdrawal limits.
However, TrueFunded has also received criticism for vague account termination policies that leave traders feeling at mercy of compliance decisions. They still lack the track record length of a Topstep or FTMO as well.
Earn2Trade
Renowned for running aggressive advertising campaigns with celebrity traders, Earn2Trade is gaining traction especially across Europe and Asia. Their highlights include offering account sizes up to $200k and an intuitive custom platform.
However, numerous traders have reported funded accounts being closed suddenly once withdrawal requests are made, leaving questions around transparency and intent.
MFF Capital
MFF takes a creative approach focused on contract-based investments in traders like a prop firm hedge fund partnership. Traders buy contracts based on meeting certain profit milestones.
But with account sizes maxing at just $50k and lengthy 6 month contracts, MFF appeals primarily to side income seekers vs full-time traders. Withdrawal flexibility is also low.
Traders Central Funding
This prop firm stands out for requiring just 5% profit on a $1,000 evaluation account, making getting funded highly attainable. They also offer a supplementary free educational portal to set traders up for success.
On the weakness side, TradersCentral runs mainly off MetaTrader 4 which has fallen behind newer generation platforms in functionality. They also lack mobile app support decreasing usability for Millenial traders.
Optimizing Strategies
Every trader has a unique strategy and style that requires optimization to maximize potential. When assessing which prop firms align best, consider how their requirements, limits and incentives empower vs restrict your personal edge.
Day & Scalp Trading
For short-term traders who open and close positions within seconds to hours, lightning-fast withdrawal flexibility is vital to compounding equity and cascading profits to size up more contracts. Take Profit and TrueFunded stand out most here.
Swing Trading
For swing traders holding trades for days to weeks across assets like futures, stocks, forex and crypto, avoiding stringent payout rules is key so you can withdrawal chunks of profit whenever target thresholds are reached. Take Profit has an advantage.
News/Catalyst Trading
For volatility hunters using events to capitalize on price spikes, having unrestricted access to markets like cryptocurrencies and the ability to utilize large position sizes is advantageous when volatile moves erupt. Take Profit allows crypto and offers generous intraday leverage.
Passive Investing
For part-time traders with smaller size, pursuing stringently evaluated firms like TopstepTrader can make sense since their infrastructure better educates newer traders despite slightly restrictive periodic payout rules being less material to smaller accounts.
So consider carefully based on your own strategy. No single prop firm will be optimal for every trader.
Getting Started with Take Profit
For aspiring funded traders intrigued by Take Profit Trader‘s offerings, here is a quick start guide to getting setup based on recommendations from existing users:
Step 1: Create Your Account
Registration only takes minutes at TakeProfitTrader.com with basic personal details. Have government ID and proof of address ready to upload for quick verification.
Use referral code FIRSTNAME for 10% off your first combine evaluation fee.
Step 2: Attempt the Combine
With account setup, deposit at least $550 ($500 requirement + $50 buffer) to attempt the affordable Combine evaluation and prove your strategy.
You can trade micro contracts across a variety of markets like S&P 500, Crude Oil, Gold, Cryptos, Forex and more to hit the 10% profit target. Maximum 15% account loss ends the attempt.
Analysis shows most funded traders pass the combine in 13 trading days on average. Be sure to manage risk accordingly within personal capital limits.
Step 3: Access Funded Account
Once 10%+ verified profit is reached in the combine, congratulations! You‘ve unlocked access to a lucrative funded trading account with generous leverage up to $5,000,000+ buying power.
Withdraw your profits freely while following the standard account guidelines of 6% profit target and under 5% drawdown.
And remember, even if you face max drawdown, you can always reassess and reset your funded account up to 3 times thanks to the innovative Backup Fund option. So trade with confidence and consistency knowing you have room learn without absolute loss hanging over your head.
Final Thoughts
In closing, as funded trading platforms intensify, Take Profit Trader emerges as a rising star in the industry with its flexible payout policies and focus on empowering trader profitability.
While many legacy prop firms play games to limit payout efficiency, Take Profit enables requests any time with no withdrawal caps or periodic limits. This flexibility better aligns with serious full-time traders aiming for large compounding vs hobbyists.
Combined with their 3-time Backup Fund account reset option, funded traders can swing confidently without major drawdowns spelling complete doom.
So for traders seeking simplified policies catering to consistent profit extraction vs churn, check out Take Profit Trader‘s affordable yet lucrative combines today. Unlock your profit potential through reliable funding.