Trade the Pool Review
3.8

Trade the Pool Review

Trade The Pool is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Pros
  • Established team well-known from The5ers.com
  • Four account sizes to suit different types of traders
  • Unique “Pump and Dump” functionalities for erratic trading approaches
  • New traders can take advantage of a 14-day free trial
  • 12,000 plus equities and exchange-traded funds (ETFs) to diversify the portfolio
  • Prompt client service through a variety of platforms
  • 4.4 stars on Trustpilot based on positive customer reviews
Cons
  • Strict evaluation standards for prospective dealers
  • Limited availability of special offers for particular assessment programs

What is Trade the Pool?

Exchange Stock trading is the primary emphasis of Trade The Pool, a proprietary company. It is run by Five Percent Online Ltd. and was built on the same platform as The5ers, which launched in 2016. With the support of a group of seasoned active traders, the company has become a significant player in the trading industry.

Facilitating traders’ access to international stock markets is Trade The Pool’s primary goal. Offering a range of account options, the company serves traders with varying degrees of expertise. Their mission is to offer a trading community that is encouraging and promotes the overall development of traders. 

Thus, this indicates that their priorities extend beyond monetary advantages. Their goal is to provide a mutually beneficial environment for the company and its partner dealers.

Logo of Trade the Pool

Trade the Pool Funding Programs and Challenges: Rules and Requirements 

A website called Trade the Pool allows traders to use their funds for funding projects. Standard, Professional, Advanced, and Premium are the four account sizes available; they range in size from $10,000 to $250,000. Traders are required to satisfy specific profit targets and maximum drawdown limitations for each size account.

Traders must accomplish predetermined profit targets within 45 days while making sure they stay below daily loss thresholds and maximum drawdown to complete the Evaluation phase. 

  1. The maximum daily loss varies from 1.5% to 0.77%
  2. The profit targets span from 9% to 4.6%
  3. Maximum drawdown of 4.5% to 2.3%
  4. The challenge period has finished at least 30 trades 

Traders who have experienced financial gain and success in their trading ventures have expressed gratitude for Trade The Pool’s funding schemes. The platform’s user base has responded well to its dedication to providing a variety of funding choices catered to varying account sizes and trading preferences. Traders can benefit from Trade the Pool’s resources and help while keeping a sizeable share of their profits.

Funding Program Options:

  • Standard Account: Starts with a $10,000 account size.
  • Professional Account: Provides a larger account size of $50,000.
  • Advanced Account: Offers a $100,000 account size.
  • Premium Account: Provides a substantial account size of $250,000.

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific time.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

Profit targets: A predetermined proportion of the account balance that traders must meet.

Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.

Minimum trading days: The number of active trading days required throughout the challenge period.

Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

Trade the Pool Broker: Do They Use a Reliable Platform? 

Trade The Pool offers access to Trader Evolution’s exclusive platform, which includes a range of sophisticated trading tools. The features include a scalper window, super dome, stock scanners, and market depth features.

Trade the Pool Fees: How Much Do They Charge? 

Trade the Pool provides funded accounts to traders who meet the challenge requirements. Starting with a trial account, the process can be advanced to a financed account. 

Traders are eligible for profit distributions based on the terms of the profit split agreement and can access specific buying power once they have secured finance. Depending on the size of the account, different profit split arrangements are available, allowing traders to retain a sizable amount of their profits.

Account Funding: 

To meet the diverse needs of traders, Trade the Pool offers a range of funding solutions. An overview of the various account sizes and the funding amounts that go with them is provided below:

Account Size Funding Amount 
$10,000$100,000
$50,000$250,000
$100,000$500,000

Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees traders pay to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

– Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.

– Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.

– Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

Trade the Pool Proof of Payment:

Exchange With the latest partnership between The Pool and Deel, traders may now take advantage of a payout mechanism that makes it simple and easy for them to withdraw their funds every 14 days. As soon as traders have made a profit equal to one daily loss, they can choose to withdraw.

The daily loss caps for each kind of account are listed below:

  1. $300 is the mini buying power (BP).
  2. $700 is the Super Buying Power (BP).
  3. $1300 in more buying power (BP)
  4. $2000 is the ultimate buying power (BP).

These numbers show TTP’s dedication to openness in payout management and indicate the thresholds for each account size. Their commitment to making sure traders have a flawless trading experience and that profit withdrawals are prompt and accessible is shown in this endeavor.

Trade the Pool Customer Support: 

Trade The Pool provides its consumers with a wide range of assistance options via several channels. Their website features a comprehensive FAQ section designed to answer frequently asked questions. Furthermore, consumers who want individualized support can quickly retrieve their contact details, such as phone numbers and email addresses. The following hours are when the office is open:

  • 07:00 – 17:00 GMT, Sunday through Thursday
  • Fridays: GMT 07:00–12:00

Furthermore, Trade The Pool is active on several social media sites, which allows them to engage with people and quickly resolve issues raised by them.

What Makes Trade the Pool Unique? 

Several specialized features are available in Trade The Pool (TTP) to assist traders within the company. Below is a summary of the salient features:

The Button for Reset/Bypass:

Understanding how important timing is to trading, TTP created the Reset/Bypass button to meet this requirement. After hitting the daily loss cap, this feature allows traders to quickly resume trading, allowing them to take advantage of new chances. On the dashboard of the trading application, the button is located in the right corner.

But using this button comes with certain fees that vary depending on the size of the account:

  • Mini Buying Power (BP): $25 is needed for a reset.
  • Super Buying Power (BP): $50 is needed for a reset.
  • Additional Buying Power (BP): A $100 reset cost.
  • Final Buying Power (BP): $250 is the cost of the reset.

This feature demonstrates TTP’s dedication to giving traders the freedom to adjust to changing market conditions.

The Features of “Pump” and “Dump”:

Two unique features, “Pump” and “Dump,” are introduced by TTP. They are intended to dynamically modify a trader’s daily loss allotment, rewarding steady success and reducing lengthy risks.

A Pump: What Is It?

A “Pump” happens when a trader has five straight winning days with earnings that are at least three times their original daily loss. In these cases, TTP increases the trader’s daily loss allotment. This rise offers traders increased risk and profit potential in proportion to the particular program they have chosen.

What is meant by a dump?

On the other hand, a “Dump” is a decrease in the daily loss cap that occurs only following a “Pump”. It manifests when a trader loses money for five straight days, with losses totaling at least twice their starting daily loss. This system prevents overexposure to danger, therefore ensuring equilibrium.

These characteristics perfectly capture the spirit of TTP, simulating real-world trading dynamics and protecting against extended risk exposure as well as incentives for steady performance.

Trade the Pool Reviews: What Do Their Customers Say?

Trade The Pool has a rating of 4.4 stars out of 5 on Trustpilot, based on 97 user reviews.  

Trade The Pool prop firm Trustpilot

#1. Tommaso S reported that he has recently completed the evaluation process. This corporation is the preferred choice for stock traders, end of story. He has tested several other options in the market, but none compare to this one when it comes to stocks. TTP offers an exceptional platform designed for success, utilizing the appropriate liquidity provider to achieve optimal spreads and execution. 

Furthermore, the range of stocks available for selection is extensive. The most crucial aspect is their internal risk management guidelines that require them to trade like a professional and assist them in reaching the profit goal consistently. He highly recommends partnering with this company to improve as a stock trader daily.

Trade The Pool prop firm review

#2. Travis Patton mentioned that although it would have been preferable to have everything completed by Friday to start trading with his new accounts, they did manage to resolve the issue over the weekend. It resulted in the loss of a profitable trade, but it also provided an opportunity for introspection, which was necessary. 

On Friday, the system experienced delays due to a lengthier line time, which hindered productivity with the virtual assistant. They attributed the issue to being overwhelmed initially but managed to assist later.

Trade The Pool prop firm review 2

#3. Anthony C argues that Trade the Pool offers an excellent opportunity to acquire crucial trading abilities, particularly in risk management, along with prospective funding prospects. They could enhance customer service responsiveness and streamline the trading platform, particularly in complex scenarios such as various order types and trading halts. These modifications have the potential to enhance Trade the Pool, making it a superior platform for traders.

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#4. Petr Sulc commented that the trading platform they provide is exceptionally poor. They invested hours constructing a trading structure but are unable to export or save it. Suddenly, it disappears and they are left powerless. The customer assistance is unhelpful.

Trade The Pool complaint

#4. Ko Mo stated that the lack of customer service, website malfunction during daytime, outdated regulations and terms, 45-day period to reach profit target, and limited overnight buying power suggest that this business aims to encourage individuals to purchase their programs and speculate on low float stocks. The business’s performance in all aspects is remarkably subpar.

Trade The Pool prop firm complaint

Conclusion

Trade The Pool (TTP) is a reputable and innovative company in the stock trading sector. TTP provides trading accounts with tools and features to assist traders of varying experience levels in their growth and success.

The company is overseen by seasoned industry experts who prioritize collaborations and expansion. TTP’s trading accounts are versatile and can be easily adjusted, including unique features such as “Pump and Dump” to assist traders in achieving success. Trustpilot ratings confirm TTP’s excellent reputation and the confidence clients have in its services.

Trade The Pool has strict evaluation criteria, but its collaboration with Deel, prompt customer service, and active community make it an excellent option for dedicated traders. If traders are considering joining proprietary stock trading firms, Trade The Pool is a great choice. Traders may confidently explore the site and start their trading career with a 14-day free trial and several account sizes available.

Account size up to:
$250,000
Run by The5ers
*Choose your account type and start trading

4.0
Fees
3.0
Trading Platforms
4.0
Deposit and Withdrawal
4.0
Customer Support
3.8 Overall Rating

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Trade the Pool Review
3.8/5
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