Why we are different
This article is a transcript of the Funded Trading Plus launch webinar. You can watch a copy of the webinar here. In this webinar we explain why we are different from other prop trading firms.
Welcome, ladies and gentlemen to this presentation about Funding Trading Plus, we have been wanting to launch a prop trading firm, a funded trading business for quite some time. The three of us, from Trade Room Plus, of course Trade Room Plus, our education arm, have been discussing, this requires some time, but we wanted to make it different, we want to make it fair, we wanted to sort of really understand the funded trading prop firm industry.
Anyone who’s been seeing me trade recently knows I’ve been trying a lot of different providers. When it comes to these types of things I have been in futures trading ones, have been doing MT4 ones, so very much been through every single aspect from, from the traders point of view. In terms of learning how to pass, you know, I’ve passed many of them with the strategies that I’ve used, I’ve failed a couple, different rules and all these types of things. I really just got first hand experience too sort of have a look at what I like and what I don’t like and then try to take the best bits and, as practically as possible, put them into a funded trading prop firm, I would actually like to use myself. And that is what I’m pretty confident and believe that we have come up with.
So who is this webinar not for?
I always like to filter people out. Because, you know, people who know me will know that I’m always very realistic about trading, I’m always very matter of fact about things. And that’s why we’ve been around such a long time is because we are honest.
So we’re not looking for those people who want to get rich quickly, that does not exist unless you pick six numbers in a lottery very, very luckily, I was not for those who expect to make unrealistic returns.
I’m not interested in anyone who wants to take a punting gamble in the true gambling sense with our capital, because we have put a lot of our own money into this venture. And we want to give it to responsible traders.
Who is this webinar for?
Those who are looking to get access to funding for their own trading, those looking to use larger sums of capital to increase profits. One of the biggest problems we have for traders is that they’ll come to us with small trading accounts. I have to say to them, only money will make money, it’s as simple as that. So you know, focus on those skills. And we’ll try and connect you with funding providers.
It’s also for those who are looking to create a business from trading, Michael and I were full time traders and have been for quite some time. So you know, we know all about the business of trading, as well as actually, you know, trading and running a live trade room as well. So that’s something we want to advise you with as well. And those who are looking for a long term relationship with a prop firm that are actually going to be on their side.
Be under no illusion, in order for this to work for us, we need profitable traders to be trading profitably, that is the only way this model is going to work for us. So we have an extremely strong vested interest in filtering out traders who are reckless, and finding traders who are going to keep developing. We want to find those with the potential and that accept the responsibility and accountability of trading with our capital.
What is Funded Trading?
Well, funded trading is a way for traders to trade larger sums of external capital in exchange for a percentage of the profits. That is essentially what funded trading is.
Is funded or prop trading regulated?
No. Now this is fantastic, especially for Americans and US citizens. No, because traders are not trading their own capital. This gives traders the benefits that most retail traders can’t have.
All traders can access CFDs on leverage, which is great again, for US citizens. All traders do not need to achieve legal professional trader status or qualifications. Most importantly, you know, the trader and your capital is never at risk. The brokers are still regulated who we work with. But the funded trading firm itself is the client, not you. This means the firm can decide which traders it can accept no matter where they are in the world.
So to summarize that, basically, you’ll be trading one of our accounts, and we will pay you the profits from that. And it means your capital is not at risk. And because you’re trading one of our accounts, you can be anywhere in the world. And it does not require regulation. Of course we’re going to work with a regulated, insured, proper broker. But again, that’s for our benefit, not yours because it’s our money that we’re risking.
Why do people choose to trade with funded trading firms
https://traderoomplus.comYou can make larger profits than it otherwise would because you have access to more capital. zero risk on losses is the biggest benefit, it’s not your capital. Any losses you incur on the account are covered by the funded trading firm. And you can also scale capital much much faster by being able to have multiple funded trading accounts or go through a scaling plan that we’re going to offer.
So for example, if you’re a fantastic trader, you’ve got skills and you can demonstrate those skills, you’re limited by your own availability of capital, it’s not like you can be trading with maybe I don’t know, a $10,000 account and say, well, you know, I could handle $250,000, because you might not have that capital, which is completely understandable. So you can’t necessarily get rewarded for your own trading skills. Whereas we’re in the position if we have a talented trader, who continues to make consistent returns to dramatically increase their account size to increase their funding size, and reward them for being a quality trader.
So the only thing we’re interested in is traders not having to worry about capital, but just worrying about being the best trader that they can be and delivering consistent returns. So we as Trade Room Plus, we built a package designed to help people pass funded trading tests, because so many people are interested in funded trading. So many people were interested in having access to capital.
Now this came from someone speaking to me and asking, “are your strategies really suitable for passing most of these funded trading tests,” and because most of the particularly US firms make you open and close trades on the same day. And because I’m a scalper, we developed the demon scalper package. And every day, I’m getting people on WhatsApp, and other contacts, emailing. They are asking things like; show me certificates, show me how the past funded trading tests with some of the major providers out there, which is fantastic. And of course, if you’ve been in the live trade room, you’d have seen me do that on multiple occasions with different providers as well.
The Four Pillars of Trading Success
So that was the initial sort of toe into the water, if you like when it came to this, when it came to this funded trading. Now, it was also part of our four pillars of trading success. And we talk about these whenever we talk about education. Whenever we talk about anything that we do, it always links into these four pillars, you know, we have the live trade room, we been doing this since 2013. Michael does the morning session, I do the afternoon session where we’ve display our charts on screen. You’ve seen us do trading, and whatever it is, whether it’s our own accounts, or a funded account or anything like that. Pillar two is also education and profitable strategies. Of course, you can’t trade without profitable strategies. And we need the ability to actually trade in order to educate people and articulate that to teach people. And this is what the Demon Scalping Package does and is an example of how that fits in. Ongoing support. Mentoring is really important for us.
And these three things sort of can be summed up with the analogy that I use, you wouldn’t learn to drive from someone who can’t drive themselves, it’s always about us having skin in the game and demonstrating that we’re the real deal. And the support and mentoring is also important but access to people when they need help, every trading journey is different. And pillar four, which is the one we didn’t previously have until now was access to capital and funding, you know, our sort of vision has always been to teach people how to trade, make it an accountable community with the trade room. And then once those people are ready to trade, we can sort of get them access to capital and funding, we’ve always had to do that externally. But now we can offer it ourselves. So we have every pillar covered, and can offer that complete package, taking people from the basics all the way to the advanced all the way through the journey. And it sort of completes us in that respect, which is exactly exactly what we want to do.
Most people are unhappy with their funded trading provider
Now, the problem is that most traders are unhappy with their current funding providers. And that includes me; from having a look at all the dirty little tricks and things that are done by these firms to make you fail. And we’ll talk a bit more about those later. But this is why a lot of people do complain or say, oh, you know, I managed to get a live account. And then you know, this, this rule triggered me out, I took a contract too many or traded over news and all these other little rules that are put in to sort of catch you out and keep you in that demo environment are exactly what make people unhappy with it. And the reason is that most funding programs are unfair, because they don’t actually want profitable traders, they’re not interested in putting in the extra work. But we’re interested in mentoring and developing education. And that’s all hard work. But that’s something we’ve done for a long time. So we are genuinely interested in profitable traders. And that’s why we’ve built a model to take that into account and also to be based on profitable traders. Whereas it’s a lot easier just to sell a nice package, sell some nice headline figures, maybe put the price down artificially cheap and then just cause loads of people to fail and then you just get money for nothing. But we’re not about that, we’re not interested in that.
And now this is where the issue is. So most funded programs, or a lot of them fail you for trading over news, overnight or over the weekend. A lot of them force you to be a day trader because they know statistically day traders will fail more than other traders. As a day trader as myself so won’t allow you to hold overnight they won’t allow you to potentially hold over the weekend or take any additional positions over the weekend.
Some of them fail you for not having a trade open long enough which just seems absolutely outrageous to me. You know particularly if you’re looking at scalping and higher highs sort of position sizing, it’s like, I couldn’t care less what how long you hold a trade for if. If it’s as a quick five second 10 second move or a minute, or whatever, fantastic. These are all just little, little moves to try and catch you out.
Failure for not trading enough days for failure for trading certain markets, certain position sizing, big, big one, the future American futures firms; do you accidentally click three rather than two contracts. It’s an instant hard fail straightaway, very easy to do, when you’re sort of navigating around some of the platforms.
This is one that I really don’t like. Most of them charge you every month until you pass. And that’s designed to compress you, that’s designed to give you an arbitrary target. You know, we want people trading, when the opportunities are there. If you if you need to sit on your hands for a week, then you sit on your hands for a week. You know, some of them punish you for not trading, you know, if you don’t trade in, you know, a minute. Iif you have five days off for whatever reason, failure, all these little tricks designed to keep you to fail to get you to reset and buy new accounts. And the monthly one is a very naughty one really forcing you to, you know, take on extra trades because you don’t want to pay the next monthly fee. So then you fail. so tight that time pressurizes you, very naughty.
No expensive data feeds
You get absolutely rinsed for those, when you’re buying from the CME and other places like that, particularly on the futures ones. And on the live accounts. Well, you know, even if your not a professional trader it’s still $110 per feed, two or three of those. So that starts chipping away as well. .
Other firms have rules that make it extremely hard to pass pretty much just what we’re talking about. They have rules that are deep inside the terms of conditions in case you break them accidentally and have rules on a live account that are different to evaluation, very naughty. There’s one’s, a certain provider who, who actually asked me to do an account for them and it turned out that you could hold overnight during the evaluation phase, but you couldn’t hold overnight on the Live account. So that was a nice little surprise.
No to Different Rules for Live Accounts
But of course, because it’s the Live account, you don’t think that far ahead to look at it. So you know all these little tricks and games I’ve experienced first hand as well. A lot of them won’t put you in the real market. When you’re on your Live account, they’ll just put you on a demo account. Because what they’re basically saying is that, yeah, okay, you’ve passed and gone into a live account, but we still think you’re going to fail, our rules are still going to trip you up, you might have got lucky the first time but you won’t be getting lucky the second time or the third time. And then the occasional person who does get lucky, they’re not bothered, they’ll just pay them out. That’s not a problem.
Whereas anyone who passes for us is going to be put in the real market because we want them to actually win. And if they lose, they lose our money. It’s as simple as that. A lot of complaints on the internet about fly by companies who open up and end up not paying people they take money and then disappear. We’re a proper established limited company business. So you know, we’re going to be paying you out because you know exactly where we were registered to. So there’s a lot, you know, see a lot of companies that open up and then just disappear.
We’ll certainly be paying people out on the profit, because that’s when we’ll be paying ourselves out as well. This is a big one for me as well. And this is, you know, people will ask how much leverage do I get? And it’s like the reason they give you 100:1 leverage, or the reason they give you 12 Full contracts on the futures market is because that encourages you to blow your account and encourages you to trade too big. You know, if you’re like having a tight rope, you end up being on a really, really thin piece of string. You know, too much leverage is not sensible.
Think about this at an institutional level, if you’re trading my account, and if you’re trading an account in an investment bank, do you really think they’re going to allow you to trade in a position that could allow you to blow your entire account in a few minutes? Of course not. So it’s just about having a professional approach. I appreciate them dwelling on these, but they’re very, very important. And the list actually goes on and on. And these are just some of the ones that came to the top of my head while I was doing this slide.
Traders' want simple and transparent rules
And our traders want programs that have simple and transparent rules. That are built for long and short term traders, swing and scalping as well, and don’t have monthly charges. And it’s also with a reliable broker as well under a funded trading firm that actually wants profitable traders and I’ve explained why it’s the case we don’t have rules in place designed to make people fail. We put all live trades in the real market of real money. And most importantly, we’ll pay traders their profits four times a month if you want.
And we thought it wasn’t too much to ask really but months of research and going through many of these programs. I spent a small fortune going through most of these programs in order to see every aspect. You know no no trading firm like they existed. It was as simple as that no funding firm, no prop firm existed, and doing what exactly what we wanted to do and what we’d want as traders. So the answer was that we built our own and that was crafted around the feedback from traders we knew and across the wider internet looking at Facebook groups looking at this groups, looking at all the Google reviews or the Trustpilot, reviews, hours and hours and hours of due diligence, taking into account the feedback and then cumulating it in tables. Just a huge amount of work and of course, going through it first hand myself. And that’s why, and that’s what led us to create Funded Trading Plus as well, where professional traders are going to be trading our money and not their own.
The Experienced Trader Program
And that is our front page of our website, there’ll be a link talking about a little bit more later. And currently, we have two simple program types, we have two simple program types. We have the Experienced Trader Program, which is going to be done on MT4 and MT5, it can be done with manual trading, or you can use an expert advisor, it has a single phase evaluation. And what I mean by single phase is that you have to achieve the targets once. You don’t have to do two phases, your total drawdown is 5%. Daily drawdown is 2.5%. And with a 10% profit target, we’re gonna give you one to 10 leverage and you might say one to 10 leverage? But as I alluded to earlier, that is more than enough to trade professionally. If you can potentially scale to a million dollar account with us, one to 10 is exactly the type of professional leverage you need to be using, which is why you need to get used to it. It is more than enough leverage, any more than that ,is going to cause you problems. The profit split is 80/20 up to 90/10. So, you take 80% and 90%. There are no minimum trading days. And there are three account sizes 25,000 50,000 and $100,000. And if you break one of the few hard rules, then your reset fee will be $150.
The Advanced Trader Program
The second is the Advanced Trader Program, again manual trading or expert advisor, this one is a two phase evaluation. So you have to prove to us you can pass on two occasions, total drawdown is 10%. Daily drawdown is 5%. So it’s double of the first Experienced Trader Program. Your profit target for evaluation one is 10%. Your profit target for evaluation two is 5%. The rules stay the same between evaluations. They do not change. Platform is MT4 or MT5 four leverage, again is one to 10. And the split is 80 to 20 and up to 90/10. There are no minimum trading days.
So they are the two programs that we are going to be offering. And then we also have the Talented Trader Program that we anticipate coming late 2022, which is dramatically different. We’re not going to go into detail about that. But that is for true swing traders. But we’ll discuss that more as and when that is launched.
So this is the key thing I’ve summarize those programs, you got to have a look at more details and later.
Hard rules are when you fail straight away. Soft rules are when you don’t fail. The vast majority of funded trading providers have lots of hard rules, all the things I spoke about on the slide earlier, talking about if you over leverage if you hold over news, if you trade too many contracts if you hold, try and hold a position overnight if you try and trade over news ,don’t hold for a minimum at a time. They are generally all hard rules that make you fail straightaway. Because the funding provider wants you to fail because they’ve got no interest in you having a live account.
We have two hard rules only: don’t exceed the daily drawdown allowance and don’t exceed the overall drawdown allowance. That is it. They’re the only things that will fail you on our program is by exceeding the daily drawdown allowance and exceeding the overall drawdown allowance because we want to see you can manage risk we want to see you can manage drawdown, we want to see that you can trade properly, they are the only two hard rules we have and that is very, very significant. It’s probably the most simple program out there from what I’ve seen.
We do have some soft rules which will not fail you but they will close your trades. You have to set a stop loss on every single trade. You have to set a stop loss because if I’m giving you my capital to trade with, my hard earned money, my non existent children’s inheritance – as a certain person on Dragon’s Den would say, then you must be trading the hard stop. It doesn’t necessarily need to be exactly where you want it. You just have to enter the market with a stop loss and you can move it around. You can do what you want with it but you have to trade with the stop loss because there’s no way you are trading with my money without having a stop loss.
I’m assuming that everyone who does this is going to pass and trade my money so you will be using stop loss to show me that you can do professional trade management. You see me in the trade room I use a stop loss all the time for 1000s of trades. This is what Professional traders do in most circumstances unless they have a very, very specific methodology that doesn’t work here.
And you also need to close your trades on a Friday evening, as well, as we don’t want to be holding certain risks over the weekend. All Trades will be closed at 16:30 EST on a Friday. Crypto will re-open at 17:30 EST. So you can trade crypto over the weekend as well. And the other markets will remain closed until the Sunday evening open. We don’t want Forex positions, we don’t want index positions, held over the weekend because of the risk.
Again, think about the capital that’s at risk when the markets closed. You have lots and lots of open positions on the index markets and then some horrific pandemic happens over the weekend. To pick a farfetched example, market limits down there’s going to be serious issues with slippage and things like that. Again, it’s all about how we are going to do things when real money is at risk. So we have two hard rules and two soft rules. But again, if you are looking at trading the weekend on crypto, we have the largest selection of cryptos of any funding provider. We have 250 crypto markets you can trade those over the weekend. In fact you can trade them on Friday night when the market re-opens. When it comes to crypto MT5 has the most markets.
Right let’s get into the nitty gritty. Let’s talk about daily drawdowns. We’ll do a q&a at the end if there’s any further explanation needed because I understand this can be a little bit sticky then we’re gonna we’re gonna get into that. So daily drawdown is a set percentage based on account balance at 23:59 the previous day. The daily drawdown does not trail intraday. Okay, I’m gonna talk about trailing drawdown in a moment and how it’s something that catches you out. Your trading profit increases effective drawdown.
For example, if you’re allowed to draw down 5% in a day, the previous daily balance is $100,000. Daily drawdown allowance is $5,000. So if you lose $5,000, that would be a hard rule breach. But if you make $1,000 then the daily draw down is expanded by $1,000. For example, on today’s drawdown allowance plus today’s profit equals today’s effective drawdown allowance. For example, if you make five, if you’ve got $5,000 drawdown and you make $1,000, that equals $6,000. So we’ve added an extra $1,000 to that drawdown and the trader can still draw down to $95,000. This is all done very nicely visually on the dashboard that we’ll be showing you to give you a visualization.
Let me just focus on the trailing trailing drawdown a second, who in the chat is experienced trailing drawdown? We’re getting chased by unrealized p&l, high watermarks, the unrealized p&l That just squeezes you. You know, effectively what happens in a lot of these providers is say you make $1,000 profit and you don’t close the trade the trade comes back to $500 profit your drawdown has chased you by $1,000. That’s not what we’re going to be doing.
Overall drawdown is a set percentage of the starting balance this drawdown trails from the high watermark the largest balance that was in the account. When the drawdown reaches the starting balance of the account, the drawdown stops trailing. Okay, example one, 10% overall drawdown, the account starting balance is $100,000. The trader makes a profit of $8,000 overall drawdown is 10% of the starting balance 10,000. The trader can now draw down to $98,000. That’s because of you making the $10,000 It brings a drawdown up. But example two illustrates what happens when you reach the starting balance. Example two 10% overall drawdown account starting balance $100,000, the trader makes a profit of $16,000 overall drawdown is 10%. The starting balance plus profit 10,000 plus 6000 equals 16,000 of drawdown, The trader can now draw down back to 100,000 because the drawdown is stopped at the starting balance.
So in other words, if the more profit you make the more drawdown allowance you’re going to have. The drawdown will stop when you reach the starting balance. So if you’ve got $100,000 account, your drawdown is at $90,000, you make 10,000, the drawdown will then stop, it will not follow you, it will not trail you in the way that we trail any more. Because that’s how you increase your account balance. That is how you end up trading with a larger account. It’s about a snowball effect, starting off patiently with discipline. And then as your account size increases, then you’re going to get more drawdown you’re going to get more freedom in order to trade ever larger position sizing. You’re going to be able to compound, you’re going to be able to increase your account size exponentially. I appreciate that it is a little bit chewy and it can be a little bit complicated to get your head around. If you’re not familiar with funded trading or who’s done funded trading. I know exactly what I’m talking about, but again in the q&a, we can discuss that further.
Now another big thing that people do worry about withdraws, am I going to get paid? Obviously, it’s easy for me to say yes. But that’s all I can say at the moment, the proof will be in the pudding, I promise you, we will be paying people out. Once you’ve passed your evaluation and given a funded trading account, you can withdraw profit and maximum of once per week. Withdrawals can be made via bank account or PayPal. And in 2022, we’ll be looking at withdrawing profits by cryptocurrency. Minimum withdrawal will be $50 as well. So a lot of providers only allow you to withdraw once a month, we’re gonna be able to do it once a week, if you so wish. It depends on what frequency that suits your individual circumstance. So we’ll have to have a look at that.
Which markets can I trade?
Well, we’ve got Forex and we’ve got the major and we’ve got the miners. On the indices, we have the majors we have S&P, the Dow, the DAX, the footsie, the NASDAQ, etc. Commodities, we’ve got gold and oil. And then this is where we’re unique to everyone else. We have 250 Crypto markets, including high cap Bitcoin, Ethereum ,Dogecoin. Other ones like that medium low cap, we have crypto crosses, we have crypto indices, as well. So we have all the standard markets you would expect. And then we have a significant amount of crypto markets. And as I spoke about earlier, the crypto markets will be available to trade at the weekend, as well.
What platforms can I trade?
We’re gonna be using MetaTrader, quite simply MetaTrader is the best platform for CFDs. It’s the world’s most popular trading platform, we’ve got MT4 which has Forex, commodities, metal oil indices, and some cryptos. We’ve got MT5 which has Forex, commodities, metals, oil, indices, and the full range of 250, crypto, some cryptos will only work with MT5. So if you are interested in having the full range of cryptocurrencies, then it is MT5 that you would need to select as well.
Which broker do we use?
How do we actually connect that to the real market? Well, what we have to do as a funding provider and as all funding providers is we have to work with a broker. And any of you who have been copy trading with us will know that we’re working with EightCap. And one of the reasons for this is when we’re doing our research and due diligence is EightCap, they are a broker who specifically designed some of their infrastructure for proprietary trading for funded trading, and quite aggressively have gone out of their way in order to make themselves the best in order to do that. There is no spread markups, or anything like that. The accounts are identical accounts to what you’d get if you just opened them as a normal retail trader. Very, very tight spreads, the best in the funded trading industry and the transaction fees are greatly reduced.
Again, anyone who’s been copytrading with us will know that the cost of carry is about 60%, less than most brokers, very low slippage, often no slippage on occasions, outstanding selection of markets, the 250 cryptos no one else has anywhere near that many cryptos and global licensing for insured funds. And to make sure that they playing off a straight bat, as I’ve heard it said before, but again, that’s more to manage our own risk rather than yours. And the customer service is very good, very fast responses. It is bizarre that I hear a lot of compliments about our customer service doesn’t need to happen with brokers. And it’s the broker that we have our personal accounts with, we have all our copytrading infrastructure with as well. So we’re very much all in. We have a great relationship with the senior staff at this broker. And we’re absolutely confident they’re the best broker for us to work with, with this as well.
The Nitty Gritty
But let’s talk about that some of the nitty gritty details. I appreciate it’s quite heavy going to get your head around. It was for me when I first started exploring this industry. So don’t worry if it’s not identically clear, or perfectly clear at the moment. Let’s talk about things that are a little more interesting to you. Let’s talk about the pillar for where we’re getting access to capital. We’re getting access to fund a trader and let’s talk about the type of place that we want traders to be. And obviously you want to be, as a trader. And that is here what we’re talking about moving to, when we’re talking about scaling up to your account. If you choose on a live account this so you’ve got a $25,000 account or if you’ve got $100,000 account, you obviously skip a couple of stages. If you achieve a 10% profit target and you want to keep that money in the account as opposed to withdrawing it, then we can upgrade you to a new account size with new drawdown with new opportunities for more buying power. Because obviously as your account size goes up, you get more buying power and leverage is relative to the account size. So if you have $100,000 account and you make a profit target of 10 percent on the Live account and you wish to keep that capital in there, then we can upgrade it to a $150,000 account, if you make 10% of that account, then we can upgrade you even further to larger accounts, and so on and so forth to 500, to 750. And eventually, up to that, up to that million dollar account size that you can see there. And that genuinely works absolutely, flawlessly. If you keep that 10% profit target in there.
Sometimes people might want to withdraw profit, other people may want to go straight for it as well. But there is a clear route to account growth, a structured route to account growth without making a particularly large amount of profit. This is why we want people trading sensibly, we want people trading over the long term. And this is why we’re not charging a monthly fee. Because we want people to take the time. When people trade according to their circumstances, we don’t want pressure on them.
So this is our Trader dashboard that will go into a little bit more detail later. But this is an overview of it, we will be showing you it in detail. But this is where you’re going to monitor all your progress. It’s going to tell you give you some data on how many winning or losing trades you have, look at any rule breaches and explain those to you, whether they are soft or hard breaches. Show your open risk, open p&l, your profit goals, your average winning trade, every losing trade, some basic metrics. It’s a very nice clean looking thing, and I’ll be showing you that in more detail a little bit later.
Why Funded Trading Plus
Well, we don’t fail you for trading over news overnight, or over the weekend. Obviously, we have a soft close for those rules, but we don’t fail you, even if you forget to close a trade, we’ll just close it, you won’t get failed for it, we don’t fail you for the length of time you have a trade open either minimum or maximum amount of time. We don’t pose a minimum number of trading days, because that just ends up as a mickey mouse chase where you hit your profit target, and then you spend the remaining days just opening and closing the smallest position size possible, I’ve done that with futures trades, it becomes a joke. So it’s pointless even doing that. We don’t allow you to see and try and trade a market and empty 45% failure for trading it like some do.
Very, very important that we don’t charge you a monthly three, we’re not interested in time pressure. You know, if you’re someone who can trade over the weekend, or in the evenings, and you’re just waiting for the right opportunities, then you wait for the right opportunities. You know, you don’t have to think in five days’ time I’m going to be paying another $300 or whatever money, you need to, you know, take some desperate trades in order to pass. We know we’re not interested because that’s not how a professional trading environment works.
You don’t go to a traditional prop firm, you don’t go to a bank, you don’t go to a hedge fund. They’re not saying to the traders or you need to make this profit target by tomorrow or you know, we’re going to take some money off you. It’s a ridiculous thing when you think about it. And it’s one thing that one of the biggest complaints are the monthly fees and also the unrealized p & l drawdown as well. We don’t, and we don’t charge you data feeds.
We don’t have rules that are designed to make it extremely hard to pass. We just have two rules as you’ve seen or too hard rules. And we don’t have any rules hidden in the terms and conditions. To break them accidentally we don’t have rules on live account that are different to the evaluation. We are going to give you an example earlier of a firm that I initially started trading with to test and the rules were different on a live account and they were on the demo account, which was naughty.
We don’t give traders too much leverage, they fail by over leveraging trades. You know, I’m not interested in getting people excited about a news event taking a massive position and then blowing their account doesn’t interest me whatsoever in that respect. What we do then is, we have clear and simple rules. We actually want profitable traders trading capital. That’s the only way this is gonna work. We do a live trade overnight. You can trade crypto on the weekends, we allow you unlimited time to pass your assessment. We put your trades in the actual market of real money when you pass into the live account live environment. We give you access to a dashboard of in-depth analysis of your trading. We offer the largest selection of cryptos of any funding provider over 250. We let you use Expert Advisors if that’s the way you trade, and it’s successful for you, I’m not going to stop you doing that.
EightCap are an excellent broker of low spreads and low slippage. There’s no markups. There’s no fun and games, we like to easily scale up to an account of a million dollars. And we give traders support from professional traders, which we’ll talk about a little bit more later, a few people asking about the live trade room and things like that, and plus much more in that respect. So I appreciate you taking the time to listen to all of it. Some of it’s quite chewy. But the details are very, very important. It’s not quite saying a strategy session is that I’ll be sharing some recorded trades. It’s not as light hearted, not as light as materials, but it’s really important people understand.
So the question to you is, are people interested in this as well? Just in chat as there are a lot of people in the room tonight. Is this something that interests people who’ve done fund trading? You know, give me some feedback. Quite a lot of people saying yes. What’s the website? I’ll sign up now. I will send you the link a little bit later. There’s no rush right now. But yes, it is live now. Lots of people are saying yes. I like that. I like the no time limit is a newbie package product spot on. I do note no time limit. A lot of people enjoy that point. I thought that would be a big one. That was one that really annoyed me when I was going through them. Yeah. Never been fundamentally interested. Something to work towards was the Stefan. Don’t you worry. Don’t you worry, Stephen. We’ve got you covered you crystal ball man. Stefan says what’s the plan? What’s the code? I’ve got to give you a great code in a moment. Leverage, yeah, I mean, the leverage. Howard is just the reason is you don’t need it you know. We’re not wanting people to make all the profit target in one or two trades. We want people to want perfectly sufficient position sizing to take some handful of quality trades. And then if we put high leverage up, then we need to make the rules more stringent because you end up with lots of people who just take lucky punts and passing in one trade and I’m not giving people like that. access to my capital.
So, you know, if you want 100:1 leverage, then you’re going to need loads of Mickey Mouse rules to, to trip people up to try and filter out people. So it’s about getting that balance between making it as fair and simple as possible but at the same time, you know, wanting to give capital to people who are going to be responsible.
Absolutely. Yep, more questions. Okay, so as preempted by the man with the crystal ball, for the next 24 hours, if you want to sign up, we’ll give you 100% refund when you qualify for a funded account. So if you pass, we’ll refund you the initial fee. That’s what I’m saying. So if you do a $100,000 account, you take your time, because there’s no time limit, there’s no monthly fee, you pass it, then we will pay or refund you the amount you paid for it. Does that make sense to everyone? So if you qualify for a funded account, we’ll refund you the evaluation fee. So if you pass or when you pass someone I like, I like positive affirmations. When you pass you’ll be refunded the fee so you can get a funded trading account for free. Yeah, can’t really do much better than that to be honest, refund you the fee as well. Does that make sense to everyone?
Can you post the link here? How do we decide between the Experienced Trader Program and the Advanced Trader program? Rajesh you can pick either one. Yeah, again, Paul, it is a balanced between between targets ,rules, you know, there’s all you have to operate within some sort of some confines if you like to make it work. The website’s not finished at the moment, but the homepage does work. So the program can be done. That’s why it’s our that’s why it’s our Early Bird launch for those people who emailed us and wanted wanted more information. So the website isn’t completely finished. But it does work. The dashboard works. So you can start straight away. On that is a newbie package. There are smaller, there are smaller account sizes available. Thomas, I’m not sure about that. But if they do, we can integrate in that as well. Anyway, q&a is at the end.
Anyone who’s interested in being an affiliate, we’re building the best funded trading affiliate program, the highest percentages on offering the entire industry within a lot, you know, we’ve done it, we know the affiliate business inside out. We’ve done a lot of research and looked at all the pathetic amounts that most of these providers will pay you for your hard work. If you’re an affiliate, we’ll pay you significantly higher than they will. And so email us for more information at info@funded trading plus.com. And we’ll be able to give you information on the affiliate ones as well.
Any questions? Any questions, guys? I appreciate it’s probably lots in the chat. And I will come back to those and James and Michael are very much very much answering some of those as well but a lot of people in the room tonight so bear with us, we will get round to you.
And I will go through the dashboard shortly as well. There are the CFD futures market but there’s the there’s no there’s no there’s not futures as in actually on the CME or Rythmic
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