Traders Launch Review
3.0

Traders Launch Review

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

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

Pros
  • Daily Loss Removable
  • Transparent Policies
  • Low Trading Instrument/li>
  • No Time Limit
  • 1-step and 2-step Evaluation Available
Cons
  • Minimal online presence
  • Limited Reviews Found Online
  • Relatively New

What is Traders Launch?

Upon reviewing the Traders Launch website, it was evident that essential information was missing, leading to a stark and barren look. The majority of the content is densely packed on one page, hindering access to programs and vital information, thereby creating usability issues.

Max Thomas and Connor Holly, both active traders, administer the website. The lack of information is concerning, especially due to the undisclosed name of the domain owner on WHOIS. The domain registration shows a location in Tempe, Arizona, United States, but important contact data are missing from the website, which is a major red flag.

Moreover, the Traders Launch’s credibility is further questioned due to its low trust score on some websites. Traders Launch has sufficient material and contact information, which undermines its credibility. Thus, the firm is optimistic that the company could yet establish itself as a credible private trading enterprise.

Logo of Traders Launch

Traders Launch Funding Programs and Challenges: Rules and Requirements 

Every account at our firm consists of three unique stages, each with designated profit goals & loss boundaries. Here is an analysis of the prerequisites for each stage:

  • Step 1:

Profit goal: 6%

Maximum allowable decrease in the initial account balance: 6%

Maximum allowable loss during the trading day: 3%

  • Step 2:

Profit goal: 4%

Step 3 has the same maximum balance and intraday loss limitations as Step 1.

  • Step 3:

Traders are moved to a live account whenever they achieve a 6% profit target. The daily stop loss does not lead to account termination.

Let’s now specify the account sizes and their associated plans.

5k Plan:

Profit: $300 from Step 1 and $200 from Step 2

Maximum allowable decrease in balance: $300

Daily maximum loss threshold: $150 Strategy:

10k Plan:

Profit: $600 from Step 1 and $400 from Step 2

Maximum balance decrease: $600

Daily loss limit: $300 $25,000 Strategy

25k Plan:

Profit: $1,500 for Step 1 and $1,000 for Step 2

Maximum balance decrease: $1,500

The daily loss limit is $750. Strategy:

50k Plan:

Profit: $3,000 from Step 1 and $2,000 from Step 2

Maximum potential loss: $3,000

Daily loss limit: $1,500 100,000

100k Plan:

Profit: $6,000 in Step 1, $4,000 in Step 2

Maximum balance decrease: $6,000

Maximum daily loss: $3,000

These organized procedures and strategies guarantee a defined route for traders to advance while efficiently handling dangers.

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 period.

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 aim, 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.

Traders Launch Broker: Do They Use a Reliable Platform? 

Traders Launch is a reputable trading organization, nevertheless, it has sparked apprehension among potential traders because of its lack of openness and other warning signs that hinder it from earning their complete confidence. While operating inside legal boundaries, its reputation is not as solid compared to more respected proprietary trading organizations like Crypto Fund Trader.

Traders Launch’s lack of transparency and other worrisome signs have reduced its reputation among traders. The company’s lack of important information and subpar website design have led users to be doubtful, highlighting the necessity for enhancements in transparency and user experience.

Crypto Fund Trader and similar firms are known for their dedication to openness. They provide transparent insights into their operations and prioritize transparency and clarity, which are crucial for building credibility and nurturing strong relationships with their user base.

Ultimately, although Traders Launch may be legitimate in its activities, its reputation has been tarnished by its lack of openness and unaddressed concerns. To establish confidence and improve competitiveness, the company must address these concerns by implementing more transparent methods, which might significantly boost its reputation among traders.

Traders Launch Fees: How Much Do They Charge? 

Since 2014, the proprietary trading industry has been hard, with the search for a trustworthy organization continuing. To enhance safety in trading and increase profit opportunities, we suggest using a broker such as XTB Broker.

The Traders Launch platform does not provide notable benefits to traders, particularly when compared to other companies offering stronger trading conditions. Trading has evolved, introducing a range of instruments designed to improve traders’ profits and overall experience.

By the end of 2023, AI-powered technologies, such as our analytical bot AI.F, have achieved significant advancements. The potent software can transform the trading process, providing a smooth and effective user experience. Traders will appreciate the unique features of this bot compared to others once they see it in action.

Fees: 

  • $74
  • $124
  • $249
  • $499
  • $1,249

Therefore, 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 paid by traders 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.

Traders Launch Proof of Payment:

The organization utilizes Deel for handling withdrawals. Traders can request a payout if they achieve a profit criterion of 4% during the funded account stage. Payment choices include Google Pay, Shop Pay, and credit cards.

Traders can seek a payout after they achieve gains and reach the 4% profit threshold in the funded account. There is no maximum withdrawal limit imposed by this firm, unlike many others. Withdrawals are free, but dealers’ banks may impose costs.

Traders Launch Customer Support: 

Traders Launch solely maintains a presence on Twitter and YouTube.

Contact Information: 

  1. Email- www.traderslaunch.com
  2. Twitter- twitter.com 
  3. YouTube- youtube.com

What Makes Traders Launch Unique? 

The Traders Launch provides evaluation accounts with unlimited duration, allowing access to a wide variety of index exchange-traded funds (ETFs) and 300-400 highly liquid stocks from the stock market. The drawdown in a one-step review is calculated using the account’s highest equity value, but for the two-step account, it is based on the balance after the day.

Once funded, Traders Launch’s drawdowns will correspond with the evaluation’s drawdown type. The company only allows day trading and prohibits spread trading, high-frequency trading (HFT), or any other forms of system manipulation.

Trading futures or forex is prohibited during the evaluation phase. After passing the examination, traders are limited to trading futures exclusively and must request permission to do so. Because the company has a restricted selection of assets, it may not be appropriate for all traders.

Traders Launch obtain 5x leverage when playing with ETFs. Upon switching to a funded account, the company is more inclined to promote trading index futures rather than using 5x leverage. The purchasing power for equities remains unchanged during this shift.

Traders Launch Reviews: What Do Their Customers Say?

Trustpilot Reviews:

Traders Launch has a rating of 3.7 out of 5 stars on Trustpilot, based on one customer review. The company is verified on Trustpilot. The company is thriving on this platform.

TradersLaunch Trustpilot review

#1. Purab Mehta stated that he has been engaging in trading with Traders Launch for a few months. The company is modest and provides services related to Stocks and ETFs. This is a great option for anyone seeking a company that offers funding for stock trading. Traders can engage in day trading without being concerned about PDT regulations.

– Exceptional team that is consistently available to assist.

– Establish achievable profit goals and set strict limits on potential losses.

Traders engage in the trading of physical equities, not Contracts for Difference (CFDs). There are no predetermined spreads or slippage applied to your trades.

The live account is associated with an authentic broker.

The business is structured to seek out talented individuals and provide them with genuine financial resources.

Traders Launch trustpilot reviews

Conclusion

Traders Launch is an option for traders who are interested in proprietary trading. If traders are considering this firm, it’s important to make an informed decision. That’s why it has conducted a comprehensive review of Traders Launch, which examines the advantages and disadvantages of engaging with this proprietary trading firm.

Account size up to:
$100,000
No Time Limit
*Choose your account type and start trading

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

Leave a Reply

Your email address will not be published. Required fields are marked *

Traders Launch Review
3.0/5
© Copyright 2023 | Powered by Passionate Traders