Ultimate Traders has a rating of 4.8 stars from 85 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with Ultimate Traders most frequently mention classic challenge, risk management and funded account. Ultimate Traders ranks 8th among Personal Finance sites.
Trading on this platform is not easy per se, but there are a lot of benefits that I have for using the platform, such as the 90% profit split. That is just wow.
The platform provides access to various instruments and good leverage. The trading limits are also fair in my opinion, and very workable.
I used to deal with the prop trading before and it wasn't a successful experience. I am not sure what was wrong back then, I guess the trading conditions and the trading platform were not for me.
The leverage was too low around 1:30 and the platform was custom so it wasn't very comfortable for me to open my deals in no time.
Ultimate traders provide good old MT4 that is very familiar and reliable. And the choice of assets and their leverage is high enough to get to the profitability threshold with ease.
When it comes to choosing the right prop trading platform, the most important aspect for me is how they handle payouts. I read a lot of positive reviews about Ultimate Traders, which made me start trading on this platform.
I have made two withdrawals so far, and I would say that they were like withdrawing money from an ATM, but very close to that :D
I chose a speedy challenge for passing the assessment and fortunately I passed the challenge but to be honest the rules of this challenge are really strict.
Well, I have heard a lot about this prop trading company and lately they became quite popular in the trading field and of course I couldn't help but notice that and I decided to join this company and show what I have got.
They offer two types of challenges which traders can choose from and I chose speedy challenge because I prefer trading scalping and it is better for me. By the way, the trading platform is multifunctional and it has many valuable features that make trading more interesting. In case of questions, their support team is always ready to help me.
There is always a concern going on with the prop trading. Especially with the latest situation with prop trading first in the US.
However, I double checked all the information about Ultimate traders before assessment. So it can be said that I made my assessment of UT:)
I think it's one of the most credible firms right now. They even have the office in the UK to resolve all the legal disputes on the ground.
Finally, I came to prop trading. This is what I wanted to try back in the day, but I had to postpone this venture for a better period. Recently decided to get into it.
Actually, assessment was passed easily, I didn't put a lot of effort since I can call myself a consistent and skillful trader, so my daily and max drawdowns of the deposit were hilarious, like 1% or 2%.
Everything was cool, I traded my favorite aud/cad, eur/usd pairs, tracked news and such key points as CPI rates, traded on level breakouts or price pullbacks and had no troubles.
Good platform.
Giving a huge deposit to their users to start, which increases their potential of making huge profits is one reason why ultimate trades will be most traders favorite. Although you have to pass some test phases, it's worth it.
Prop trading was smth new to me, but due to their website, comprehensive FAQ and customer support I understood the speicificty eventually.
And surely I had no serious hardships while passing through assessment since 12% of drawdown is cool, I had just 5% =)
I am not a pro, just spend more time analyzing the market and make more prudent decisions without rushing.
I've not always been fine with prop trading, but when I was made to understand that I could retain up to ninety percent of the profits, it was an easy choice.
In my opinion, those requirements imposed by the firm for traders are cool enough. However, I wish there was at least oe more trading platform. Just a kind of alternative.
That's good.
I passed through classic challenge quickly, nothing impeded me at all, because conditions for going through it are favorable. My overall account drawdown was way smaller than the pre-set threshold and that is cool.
Perhaps... I don't really like the leverage size, nevertheless knowing that you can manage a huge account means big leverage isn't super necessary here.
One of the main requirements for this prop company was what kind of trading platform I would get. My trading strategy strongly depends on what tools I use for trading. Therefore, success of my trading depends on which platform is available to me here. I simply wouldn't be able to pass assessment if I didn't have opportunity to trade on such platform.
If you are wondering what prop trading firm to choose from the vast pool and can't make up your mind, then go with the one that pays out the profits instantly.
Ultimate Traders has never held or postponed any of the withdrawal requests. I have been withdrawing funds from my trading account a couple of times in the last two months, and it has always been done smoothly and promptly from their side.
As for their trading rules, I think they do quite well, too. While the average profit share ratio is around 80%, with Ultimate Traders, I keep 90% of the profits made 👍
I've been looking for a long time for a prop company that offers suitable conditions for me to show what I have got.I admit this is the best prop company with favorable conditions.
Ultimate traders present a smooth solution in my trading adventure. Thanks to them, I did boost my trading knowledge. What about customer support? They have experts, what I say in short. To summarise, ultimate traders changed my perspective on graphs. Now, it's easy to make some technical or fundamental analyses.
Got quite ambiguous impression, I'll explain:
On the one hand, it's a transparent mechanism where you pay money, pass the assessment and start trading concurrently earning yield, but on the other hand, I don't think their requirements are truly user-friendly. For me 12% of overall loss seems to be quite...small. Wish it was around 15%.
But it's just me🤷‍
To be honest, I was a little worried that I wouldn't pass. Although I had prepared pretty well.
This company doesn't hide its requirements for traders and I tested my abilities on my broker's demo account before taking assessment.
I tried trading on Ultimate Traders rules to make sure I could pass this assessment.
I realized that if I followed my strategy exactly, I could pass. And as a result, I was right. I passed assessment on the first try and now I am a trader in this company!
As it turns out, passing assessment was easier than it looks.
I just traded carefully and didn't take unnecessary risks.
And finally got positive result.
Answer: There are two types of drawdown limits, one is the daily limit and the other one is in total of your starting balance. I assume you are asking bout the daily drawdown. Yes, it is calculated at the end of the day, and every 24h your balance is refreshed. But that doesn’t mean that if you exceed the daily drawdown limit, and manage to get back later with some revenge trades, you won’t breach the rules. Your account will be suspended even in this case. You have exceeded the drawdown limit. So, i guess that second part of your question regarding the trailing inside the day applies as well. That’s how I understand it. To make sure, maybe it’s best to contact their support team.
Answer: You can’t bypass the system. When you hit 12% maximum drawdown which is by the way one of highest ones you can find on classic challenges and funded accounts over the industry, the game will be over. So the main thing is to keep below this level and at the same time don’t break classic rules of prp firms like no hedging, no EAs, no copytrading. My way to increase my odds of success is very basic and obvious- risk management and patience. Only trades with 2-3 entry confluences, only trading in London open and New York 2 hours after this session is opened. 0.5-1% risk per trade, depending on number of confirmations. No rush, only a cool head decision. And one small tip, less frequent trades on bigger accounts to enjoy it once I’m at the funded stage.
Answer: Well usually, the pro traders with more experience can go for higher capital challenge because they are sure in their skills, or they can go for 1 step speedy challenges, and that is the average tendency. However this is not tailoring to experience, and any trader can go with $100k account if they pay the price. But it's just if you don't have much experience, it; s wiser to risk less at the first time and get to know the platform/
Answer: You decide, whether to extend your time, by making super multi confirmation deals, since at Ultimate traders, you have an unlimited time for passing the challenge. Or to finish it with a few trades, randomly, LOL. So, I can’t know about your skills, just follow the rule of min 3 trading days and reach the target of 10%. It’s not actually important what acc you have, 50k or 200k, with the right risk management and average 50% winrate, I believe challenge can be passed in 1-2 months. Occasional trading, of course…
Answer: If you are a beginner, classic is always better because you can so the assessment in 2 phases which would give you more time to be relaxed and confident.
Answer: I would suggest you explore more about prop-trading. Although it is trading in its essence, it is an essentially different trading style compared to classic independent trading with your funds. Here very strict rules are applied and in general I don't think that this trading style suits long-term strategies. The main trait of long-term strategies is that you open a position and you should forget about it… while in prop trading you don't have this luxury. One needs to monitor and adjust his positions all the time, to avoid breaching the rules. So, I would say to focus more on short-term trading strategies, but I might be wrong… idk
Answer: The process of withdrawal is to a certain extent same with traditional brokerage service, where they don`t charge you anything, except the payment processors cut their shares, based on the method you choose. The thing that should be noted here, is that your profit gains will be split to the 80/20 or 90/10 ratio, to the funded account provider, meaning you don`t pay fees, except the mentioned processor`s, but give away your profit splits. It`s not surprising, regarding the fact that those payments are conducted once a month, in general, like the majority of props allow.
Answer: Usually, the Speedy challenge halves the leverage for all categories of assets. For instance, in Classic Challenge you have it 1:10 for indices and for Speedy Challenge it is already 1:5. It is the maximum leverage and trading conditions shall be also specified during the process.
Ultimate Traders is a prop trading firms that offers trading challenges for traders to prove their skills. After the completing of a challenge, traders will be given a funded trading account to trade with our funds and keep up to 90% of the profits generated.