Best suited for: This prop firm offers an excellent scaling model in which would allow a consistent trader to build a huge account with relative ease.
Overall Ratings
- Models on offer: 8/10
- Cost: 9/10
- Rule Fairness: 8/10
- Support: 8/10
- Profitability: 9/10
- Scaling System: 9/10
- Overall: 8.7/10
Overview
Traders with Edge is a new prop firm which has some exciting funding models available at great prices. They have appeared to invest heavily into the infrastructure of the company and certainly have skin in the game. This firm are likely to shoot to the top and join the other heavyweight prop firms – so take advantage of the low entry prices while their around!
Traders with Edge - Pros
- Cost – They have extremally competitive prices and are currently running a 20% off promotion.
- (Almost) No Time Limit challenge – Their turtle challenge has 12 whole months in which to reach the 10% profit target which is definitely giving the disciplined trader the best possible chances of passing.
- Fast Support – I was connected to live chat within seconds who were helpful, polite and answered any questions I had.
Traders with Edge - Cons
- New Company – Being a new company there isn’t a lot of reviews and feedback to analyze. This is likely to change soon as the company grows.
- Minimum Trading Days – They have a rule which might catch a few traders out; The minimum trading days cannot be filled with very small trades like FTMO and others. Traders must continue to trade their strategy as normal despite hitting the profit target.
Key Details
This prop firm offers two distinct funding models: Turtle and Hare.
Turtle
This model is designed for those who like to take it slow and steady. They offer a generous 12 months to complete the challenge so time shouldn’t be an issue. Another bonus is that it is only a single phase before receiving a live account.
Hare
The Hare model is based on the more traditional 2 phase challenge. With this model you get increased leverage and more relaxed max drawdown/daily drawdown.
- Profit Target – The profit target is pretty standard at 10% and 5% for phase 2(hare model)
- Max drawdown – The max overall drawdown is 5% which is on the lower side but it should be manageable with proper risk management. This is a trailing drawdown also which I’m not particularly a fan of. The Hare model has a 10% drawdown.
- Daily Drawdown – The daily drawdown is 2.5% which resets at 9pm (GMT) This will restrict certain trading styles but with a bit of planning it should be too much of an issue. The hare model has a 5% daily drawdown
- Minimum/Maximum Trading days – The time limit on this plan is 365 days, so no issues there. The minimum trading days is 10, and unlike other prop firms such as FTMO they do not allow you to fill these days with “token” trades e.g. 0.01 lots briefly open and closed.
- Profit split – The profit split is the standard 80/20.
- Leverage – The leverage on the account 1:10 which is suitable considering the lower drawdowns. The hare model has 1:30 leverage.
- Other rules – The company seem quite clued in on how people try to abuse the system and have a number of specific rules designed to counter this. I have had a look through them and none should affect the honest trader (Just read over the minimum trading day rules).
Expert advisors require approval from Traders with Edge, as well as 3 months trading history.
Both funding models will benefit from a 80/20 profit split.
Live chat was available to speak immediately. They also appear to respond well to emails.
Traders with edge offer one of the lowest entry costs to a prob firm. Their $5k turtle challenge costs just $55.
Their other challenges cost:
- Turtle 10k – $100
- Turtle 25k – $250
- Turtle 50k – $450
- Turtle 100k – $750
- Turtle 200k – $1500
- Hare 5k – $95
- Hare 10k – $180
- Hare 25k – $280
- Hare 50k – $390
Get an extra 20% of all challenges when completing the pop up survey!
The Turtle model has a leverage of 1:10
The Hare model has a leverage of 1:30
Prop Trading Online Trust Score
Overall Trust Rating - 9/10
Traders with Edge appear to be in this for the long term - with new features released consistently, open and transparent leadership and a growing community.
Leadership
The founder/CEO is Samuel Junghenn who has a great deal of experience in the industry. There are also an number of the team active on the community section and social media.
Investment in platform
The team at Traders with edge have clearly invested a lot of time and money into getting the company operational and improving their services.
Transparency
This company has a listed address, list of staff, multiple active social medias and plenty of information regarding the running of the company.
How long has the company been trading
Traders with Edge opened to traders at the start of 2022.
Conclusion
Overall, this firm has a lot to offer, at a great price. For those seeking the standard two phase challenge, go with the Hare option. For those who like to trade without time restraints and who have great risk management, go with the turtle option.
Their unique scaling model is something to look into as it can provide some of the fastest scaling in the industry.
Frequently Asked Questions
Where are Traders with Edge based?
Traders with edge operated out of Hong Kong, their office address is:
Unit 1603, 16th floor, The L. Plaza, 367 – 375 Queens Road Central, Sheung Wan, Hong Kong.
What is Traders with Edge scaling model?
Traders with Edge offers two scaling models, one is the standard model, aka “organic scaling” the other is “Rapid scaling”.
Organic scaling – Receive a 25% boost to your capital if over 4 months you have over 10% profit and 2 out of the 4 months are profitable.
Rapid scaling – This involves leaving your share of the profits in the account (as well as their share), and receive regular boosts to your capital. With this option you can increase your trading capital all the way to $3 million! See chart below.
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