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.
It was very... tough to me to start trading with the Ultimate Traders, because I ain't have any prior experience of working with the prop trading firms. I heard of them, I even noticed some reviews, but as for personal experience - no, any.
Nevertheless, I overpowered myself, entered the platform, did a quick research and chose classic challenge with the minimum available sum under management - $5k. It was a good experience for me, I easily met the requirements and now I even receive payouts which are quite generous out here. Thanks, bros! It's better than classical trading.
This prop trading firm has ingeniously devised the rules for calling a trade. I chose the classic trading challenge and successfully passed all the rules. During this time, I have gained a lot in disciplined trading and have become more successful in making profits. This is a very tough test for every trader.
I thought that I, with my 2-months experience, wouldn't be able to start working with the firm of such a caliber as the Ultimate Traders. But no! Their requirements for getting through challenges are user-friendly, you ain't need to be an exceptional professional with "green deals" in the trading history. Small mistakes are forgiven here. Thanks guys, for such experience!
Not referring to the limits and the rules, but the actual trading conditions.
Those conditions for trading like tight spreads, good and flexible leverage, many trading instruments and market access, etc.
As for the profit share model, I think it is really good. It gets up to ninety percent for the trader.
I was totally drawn by their up to $400k funding promise and that sweet 90% profit cut. They are keeping their promise.
They're not stingy on leverage, very generous on forex pairs side. They're flexible with the trading platforms as well. What really sets them apart for me is the ability to tweak the challenge rules. Like, you can adjust stuff to suit your style, which is dope for those who wanna join. The cost to get in varies by account size, but it's fair. The profit share and flexibility are a real catch. Just hoping it keeps up as they grow.
There are so many obvious perks of trading with ultimate traders. Trading with a bigger account is a very apparent advantage of all prop trading platforms.
However, other advantages to trading with ultimate traders include the trading conditions and limits. The limits are set very appropriately and fairly. Traders have enough daily drawdown allowance, overall drawdown, trading leverage, EAs, and so on.
You can trade as you wish with ultimate traders.
Just got my confirmation about my funded account! I went through the classic challenge because i was not in a hurry, plus the targets were pretty simple to hit. It's going to be great.
I had an experience of working with prop trading firms, but all of them were mediocre. This one is another sort of company. I mean, the niche it takes is the same, it allows you to operate rather big volumes if you preliminary prove your competence as a trader, I have never faced companies that would offer more than $100k under management. This one offers even $400k. Awesome.
Not a bad solution for traders with a particular knowledge base.
I can't say that complete rookie aren't welcomed here, but it would be veeeery ardous for them to pass the challenge. The company doesn't educate on trading, it gives the opportunity to trade bigger volumes than a typical, retail trader can afford himself on his own.
For this you ought to pay a kind of entrance fee, but if you are skillful then it's paid off quickly. Plus, afaik, there's a chance to get the fee refunded.
I assume that Ultimate traders platform backed up by T4Trade broker is a solid solution.👍
I don't think that any other prop trading firm offers a 2-step evaluation besides Ultimate traders.
And what it does, it relieves a good amount of pressure from the trader's shoulders generally speaking. Therefore it is easier to pass this evaluation.
It's not a breeze by any stretch of imagination, but it's good to be backed by the company, instead of getting hurdled by.
It's great that for impatient traders like me they have opportunity to pass assessment more quickly.
I think it gives those traders who are confident in themselves chance to start real trading as soon as possible.
It's great that company has made sure that customers have all information about rules.
No matter how you feel about rules, it's much better when you know about them in advance.
When I compare this prop trading platform to other prop trading platforms that I have come across in the past, I appreciate some of the freedoms here.
I opted for the Classic Challenge for the $10,000 account size.
It took me a week, or 5 trading days to pass both phases of the challenge.
Maybe I had a lucky strike, maybe I risked a bit more than I was supposed to, but reaching 15% profit is a pretty doable task. Even if you take it slower, I think two weeks is enough.
This is a whole new experience for me.
Before I got involved with this company, the only limitation to my trading was profit. Now I have to follow the rules.
But I must say that these rules are logical and reasonable. Thanks to them, I will be able to earn a stable income. And thanks to company this income will be bigger.
Even though they offer a Speedy challenge, the Classic challenge is quite speedy as well
Especially if you compare it to challenges at other prop trading firms…
The only difference is that after you pass the first phase of 10% profits, you will need to pass another phase with a 5% profit gain. But it will instil confidence in you and you will be better prepared.
This is the very new experience for me. Not the trading, but the trading with the prop trading firm, as they call them.
In short I decided to try Ultimate traders mostly because I have a proper trading strategy but I don't have access to the bigger capitals.
I suppose 99% of the clients here came for the same reason.
But also I'd like to say that the working conditions are one of the best. I mean leverage is high, execution raises no questions. And I get to tarde on the most convenient trading platform, which is MT4.
So far so good.
I'm not really impressed because their 2-step evaluation seems to be dragged down a bit. Well, it may be stated that there are even 3 steps, because two first are for evaluation and the third one already allows you to earn money.
At the same time, from the point of allocated payouts for account managers, these guys excel. They really pay good money.
And two main reasons have a big role in this - the FEE, which is pretty small and reasonable if compared to other similar programs, and the CHALLENGE, which is quite an easy task even for not-so-advanced traders and can be achieved relatively quickly. You won't need 30 days or similar like the challenges in other firms.
There is an ultimate flexibility about the Ultimate traders:)
I mean the evaluation of the skills procedure can be 1-step or 2-step depending on your experience level.
If you feel comfortable on the forex market, and have everything that is required, namely the proper trading strategy and emotional control, then it's better to take 1-step and pass it quickly.
However for beginners wanting to partake in this exciting endeavor, Ultimate traders offer to take a 2-step process and trade at their comfortable pace.
There is also a MT4 trading platform available as the main platform. Hopefully we will see MT5 too, since it is way more suitable for scalpers.
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.