Ultimate Traders: Riding the Prop Trading Wave
Cryptocurrency / 05.09.2024

Ultimate Traders: Riding the Prop Trading Wave

Trader funding emerges as the next big thing in online trading. Stillin its infancy, prop trading has gained more traction within the tradingcommunity, with market players contending for traders’ preference. One suchprop firm is Ultimate Traders. Entering the prop trading space in 2023, the company has alreadyestablished a strong foothold in the market. With an appealing offering thateasily meets the demands of proficient traders looking to explore newopportunities but cannot afford to invest large amounts, Ultimate Tradersquickly emerged on traders’ radar as a true game changer. A rising prop trading forcePromoting an evaluation-based approach and requiring no capital tobegin with, the prop firm has laid out a new route for traders to manage up to$400,000 of its funds, provided they pass a number of challenges.Successful traders also have a chance to retain 90% of the profits theygenerate from their activities, while the company preserves 10%, based on a90/10 profit-sharing model. This is ideal for traders confident in theirtrading skills, empowering them to achieve more with a company-funded tradingaccount.Ironing out the problem of limited funds, which generally keeps toptalent away from trading platforms, Ultimate Traders paves the way for retailtrading as a career while fostering healthy competition.It must be stated that over the course of the challenges, traders willonly be granted access to test funds and trade in a fully demo environment.The ultimate prop trading choiceUltimate Traders provides exposure to a wide range of instruments atminimal costs. Traders have a choice of CFD instruments with Forex,cryptocurrencies, stocks, indices, and commodities as underlying assets. Thisallows for cost-effective portfolio building and diversification, whileincreasing a trader’s potential to reach the required profit target and move onto the Funded stage. With so many options available, traders can easily apply arbitrage orother commonly used prop trading strategies to manage risk and reach therequired profitability target. Depending on the type of challenge, this rangesbetween 5% for the Classic Challenge, and 10% for the Speedy Challenge. As a rule, the mandatory Stop Loss requirement has been removed. Otherrisk management rules apply to prop trading practices, and Ultimate Tradersemploys a set of clear evaluation rules that encourage risk management andresponsible trading.Traders also have the flexibility to opt for a 1-step or a 2-stepevaluation process, varying per the type of challenge. Most importantly, thereare no time limits, giving traders the freedom to trade at their own pace. Foran authentic trading experience, all challenges run on real servers.Other key benefits of Ultimate Traders’ proprietary trading offeringinclude:● Competitivespreads and leverage up to 1:100● Trade onthe industry-leading MT4 platform● Use anytrading strategy or style, including hedging, scalping, and EAs● Nomembership fees, except the entry fee charged upon joining the challenge● Holdtrades over the weekend without any impact on leverageUltimate Traders offers plenty of resources to get traders started ontheir journey. The prop firm’s FAQ section provides answers to the most commonprop trading-related questions, challenges, and registration.The challengesThe onboarding process is straightforward. Traders are required to paya one-time registration fee upon sign-up. This allows them to join one of thetwo challenges.The Classic ChallengeThe Classic Challenge involves two evaluation stages, requiring tradersto generate a 10% in profits at the first phase and 5% at the second phase. Themaximum drawdown limit for each day of trading should not exceed 6% per day. To qualify for the Funding Stage, traders must actively trade for atleast three consecutive days and maintain their all-time drawdown limit above12%, which is the maximum acceptable threshold. Therefore, a trader’s loss mustnot exceed 6% of their initial equity per day but never more than 12% of theirstarting account balance.The Speedy ChallengeAlbeit considerably more fast-paced and stricter than its Classiccounterpart, the Speedy Challenge is a 1-step assessment, whereby traders mustachieve a 10% profit target one time only. The daily drawdown limit with this challenge is 4% and the all-timemaximum acceptable loss threshold is 6%. This means that the trader is notpermitted to lose more than 4% of their day’s starting equity and never morethan 6% of the original account balance. Good to knowWhile each phase requires a minimum of three active trading days,Ultimate Traders does not impose a maximum timeframe in which traders mustcomplete the assessment. It should also be noted that profits made during the assessment phasesare not withdrawable. Traders are welcome to try again should they fail. Thisway, everyone gets a fair chance at testing their skills, learning andimproving their strategy dynamically.By bringing all the elements of trading together plus thecompetitiveness of the challenges and eliminating the roadblocks associatedwith the initial account funding, Ultimate Traders changes the game for agrowing number of knowledgeable traders globally, giving them an opportunity toenter the world of professional trading through the front door.Want to kickstart your trading? Feel free to visit Ultimate Traders’website and join the challenges. This article was written by FL Contributors at www.forexlive.com.

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