Position in Rating | Overall Rating | Trading Terminals |
15th  | 2.3 Overall Rating |  |
Traders With Edge Review
Property trading companies, sometimes known as “prop firms,” allow traders to transact with the company's funds rather than their own. If traders employ this strategy, they can increase their earnings and gain financial independence.
The prop firm Traders With Edge is one of them. Even though it was just founded in 2022, it has advanced by assisting customers who wish to trade Forex and other CFD assets. Traders With Edge assists traders needing capital by providing account balances ranging from $5,000 to $1,000,000.
I want to ensure that you get both my perspective as an experienced trader and the thoughts of other users as we continue with this Traders With Edge review.
We'll discuss the company's core components, including its trading tools, distinctive evaluation process, and other distinguishing features. This evaluation will highlight any benefits or issues that Traders With Edge may present.
What is Traders With Edge?
Traders With Edge is a proprietary trading firm that educates and funds its traders. In return for money, participants rate each other on how good they are at trading. Those who pass this screening process get access to the business's funded accounts and get a portion of the money they make each month.
Samuel Junghenn started Traders With Edge in 2022. It is now supported by a team of experts who have experience starting and growing international businesses. Multiple private equity investors give this group the money it needs to pay talented prop traders. The company's big plan is to help 25,000 traders by 2025.
Advantages and Disadvantages of Trading with Traders With Edge
Advantages
DisadvantagesBenefits of Trading with Traders With Edge
It's evident from my trading experience with Traders With Edge that one of the prominent perks is the possibility of opening a funded account with a balance of up to $1,000,000. Traders receive an astounding 80% profit split payout, ensuring they obtain a sizeable portion of their hard-earned gains. This is more than just a surface-level service.
Being a one-phase process, the Turtle Account Challenge stands out for its simplicity. The route to a funded account is quicker and easier thanks to this streamlined process, which enables traders to proceed without undergoing many rounds of reviews.
As one explores the Traders With Edge ecosystem, one feels a natural feeling of belonging. The portal has chat options, online classes, and even mentorship programs. These components offer traders a comprehensive learning environment that promotes ongoing improvement.
Additionally, the company offers traders a great deal of strategy freedom. Hedging and news trading are also supported, and trade copiers and Expert Advisors (EAs) are also supported. For those on the fence or eager to test the waters before making a more profound commitment, Traders With Edge thoughtfully offers a free trial, allowing potential traders to assess the platform's suitability for their particular needs.
Traders With Edge Pros and Cons
Pros:
- Diverse financial instruments: Forex, stocks, metals, and more.
- Wide variety of challenge and funded account options.
- Supports news trading, hedging, and EAs and trade copiers.
- Android and iOS proprietary mobile app.
- Simplified Turtle Challenge evaluation.
Cons:
- Risk of account issues with duplicate EA use or copy trading.
- Company is relatively new, so reviews are still limited.
Difficulties Met by the Traders Who Participated in the Brokers Challenge
Profit Target
For those participating in the Turtle 1 Phase Challenge, they face the hurdle of achieving a profit target of 10%. Meanwhile, the Hare 2 Phase Challenge requires traders to reach a 10% profit target in the first phase and a 5% profit target in the subsequent phase.
How to Overcome the Difficulty
To successfully meet these targets, traders should employ a consistent strategy and avoid chasing unrealistic profits in short periods. Periodic performance reviews can help assess strategies that work and those that need tweaking.
Maximum Daily Loss
The Turtle 1 Phase Challenge restricts traders with a maximum daily loss cap of 2.5%. In contrast, the Hare 2 Phase Challenge sets this threshold at 5% for both phases.
How to Overcome the Difficulty
To navigate this difficulty, traders should implement robust risk management strategies. Setting stop-loss orders and maintaining a balanced portfolio can help limit potential daily losses and stay within the prescribed thresholds.
Trading Times
Traders are confined to a strict trading schedule, which spans 24/5, starting from Sunday at 6 PM EST to Friday at 5 PM EST. Any trading activity outside these hours is flagged as a rule violation.
How to Overcome the Difficulty
To adhere to these time constraints, traders can utilize trading alarms or reminders. Additionally, they should stay informed about the conditions of the financial markets and events scheduled around the opening and closing times, ensuring they don't inadvertently place trades outside the permitted hours.
Traders With Edge Customer Reviews
Traders With Edge boasts a 4.2-star rating on Trustpilot, reflecting a mix of customer experiences. Several users praise the firm for its commendable commitment to services, citing smooth processes from initial phases to withdrawal without any need for support intervention.
These positive reviews also highlight prompt trading after profit deductions, satisfactory payouts, and notable customer support.
On the other hand, some traders have expressed dissatisfaction, with instances of accounts being abruptly closed following disputes about max drawdowns.
While the majority seem to have a favorable relationship with the prop firm, some traders have chosen to discontinue their association.
Traders With Edge Fees and Commissions
I've found that, as a prop firm, they have a tiered fee structure based on the trader's account type. Diving into the specifics, the Turtle Account has a varied fee range. The fees oscillate between $55 and $7,500 for those eyeing the standard format.
However, if one leans towards a more aggressive trading stance, they'd be looking at fees anywhere from $110 to a staggering $15,000. Naturally, the amount you pay correlates directly with the account size you opt for.
The Hare account, on the other hand, operates a bit differently. Its funding size for the standard trading format falls within the $5,000 to $100,000 bracket.
If one ventures into the aggressive trading arena, the range is slightly condensed, from $5,000 to $50,000.
As for the actual fees, they are pretty straightforward: for the standard format, they stretch from $69 to $550, while the aggressive traders will find themselves paying between $138 and $660.
Traders With Edge provides diverse options catering to conservative and ambitious traders through this fee structure.
Account Types
Having personally tested the account types offered by Traders With Edge, I can provide a firsthand account of their distinctive features:
The Turtle Account
- Pace: Tailored for those who prefer a slower, methodical trading approach. This is ideal for those dipping their toes in trading, especially beginners.
- Evaluation: The account uses a single-phase model, which can be as brief as ten days or stretch up to a full year, depending on the trader's pace.
- Leverage: An attractive 1:20, available for both the demo and funded accounts.
The Hare Account
- Pace: This one's for the swift – traders who have their eyes set on quick gains.
- Evaluation: A two-phase process designed to sift through and gauge the capabilities of traders. The evaluation can be as short as five days or extended up to two months.
- Leverage: Standing at 1:50, it's designed to give a substantial push to both demo and live accounts, catering to those with a taste for a higher risk-reward ratio.
While the Turtle Account paves a more relaxed path for novice traders, the Hare Account caters to the adrenaline-chasers who aim for quick profits. Both account types offer flexibility, allowing traders to align their choices with their strategies and risk appetites.
How to Open Your Account
To open an account with Traders With Edge, follow these straightforward steps:
- Navigate to the Traders With Edge official website.
- Select the account tab located on the upper right side.
- Press the “Sign Up” button on the upper right.
- Enter a desired username and your email, then hit “Register.”
- Check your email for a verification link from Traders With Edge to establish your password.
- You can opt for a generated password or craft your own during password setup.
- Once your password is in place, log back into the site using your email and the password you've just set.
- To explore further, click “Tell Me More” on the homepage, guiding you to various account options available under either the MT4 or MT5 platform.
Traders With Edge Customer Support
Based on my experience with Traders With Edge, their customer support is notably commendable. Whenever I found myself in need of assistance, I was able to reach out to their team via email easily. Their website conveniently provides a contact form for those who prefer a more direct approach.
However, I noticed some slight hitches with the website's performance, with occasional lags making navigation a tad challenging.
Yet, their advanced AI chatbot stands out prominently in Traders With Edge's support system. This feature added immense value to my user experience. The AI chatbot swiftly addressed all my queries, offering precise and professional answers.
Advantages and Disadvantages of Traders With Edge Customer Support
Contact Table
Security For Investors
Withdrawal Options and Fees
Withdrawing funds from Traders With Edge offers a variety of options tailored to individual preferences. Users can choose from several mediums, including Wise, PayPal, Payeer, BTC, Perfect Money, Fasapay, Payoneer, USDT, and traditional Bank Transfers.
For those utilizing platforms like Fasapay, Payeer, Payoneer, Perfect Money, Wise, or Bank Transfer, the threshold to initiate a payout is $50. However, the bar is set a bit higher for those leaning towards BTC, USDT, or PayPal, requiring a minimum balance of $100.
Before you can dip into your funds, some prerequisites are in place:
- Completing phase 2
- Maintaining an active trading stance for at least ten days
- Having a positive balance in your trading account
But here's a heads-up: Withdrawals can only be made once every two weeks. Since Traders With Edge also takes its share of profits at roughly the same time frame, it's essential to factor this into your financial planning, ensuring that your future savings and investments align with these intervals.
What Makes Traders With Edge Different from Other Prop Firms
Compared to many other proprietary trading companies, Traders With Edge stands out. They place a strong emphasis on assisting traders in learning and developing. Therefore, they offer more than simply funding; they also give traders access to materials and tools to help them trade more effectively.
They provide several account kinds, like the Turtle and Hare, so traders can choose the one that best fits their preferences. This versatility is great because it accommodates inexperienced and seasoned traders.
Their use of technology is another characteristic that sets them apart. Their website offers an AI chatbot that may provide prompt answers to queries. Additionally, they employ some of the top trading platforms available. This demonstrates that Traders With Edge is attempting to advance in the trading industry rather than simply adhering to the status quo.
How Can Asia Forex Mentor Help You Pass Traders With Edge's Evaluation?
If you are serious about passing the challenge of Traders With Edge prop firm, Asia Forex Mentor is here to help you. As the founder of Asia Forex Mentor, I am committed to guiding traders toward success, especially in navigating evaluations like Traders With Edge.
My journey began in 2008 in Singapore, initially mentoring a close-knit group on the intricacies of forex trading. Over time, this modest endeavor grew, compelling me to refine my teaching techniques to accommodate a growing community of traders.
Our humble beginnings transformed so rapidly that I found myself hosting live sessions and being approached by trading firms and banks to train their teams.
I curated all our resources and knowledge into the AFM Proprietary One Core Program to provide a structured, comprehensive learning platform. This program is designed to equip students with a robust trading system, tools to dissect the forex market accurately, and strategies to manage trading accounts effectively.
My course consists of 26 main lessons and over 60 subtopics. Each topic is paired with high-quality online videos. I've infused each lesson with hand-selected examples and insights based on my experiences to ensure clarity and practicality. Our One Core Program is a beginner-friendly and low-risk option, offering aspiring traders the foundation they need to excel.
Our Journey at Asia Forex Mentor
Over the years at Asia Forex Mentor, I've had the privilege to influence and guide countless traders. From retail and bank traders to professionals in trading institutions and investment firms, I've seen a vast spectrum of my students' evolution. Many, who once started as novices, have now donned the hats of full-time forex traders. Some have even advanced to respected positions as fund managers.
In our One Core Program, I've taken the essence of my learnings and insights to offer a holistic approach to trading. The concluding chapters shed light on the nuances of bar-by-bar backtesting and the mental facets of trading psychology. I've also shared personal insights on the importance and method of maintaining trading diaries, combined with understanding the pivotal steps to success in forex trading. Within this program, I introduce the unique ‘set-and-forget' strategy, provide an exclusive auto stop-loss tool, and delve deep into our free trade concept. Moreover, the distinctions between large and small stop loss levels are explained in detail.
For those ready to embark on this enlightening journey with me, the One Core Program offers an opportunity to dive in with a seven-day free trial. It's priced at a one-time fee of $997. But for those already convinced of its worth and eager to jumpstart their learning, I'm offering the course at a direct price of $940, allowing them to skip the trial phase.
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Conclusion: Traders With Edge Review
There are a few simple things to consider as I end this Traders With Edge review based on what I've discovered and what other users have mentioned.
This prop business stands out because it has the flexibility to alter its methods. To accommodate the demands of both novice and seasoned purchasers, it offers a variety of account kinds and trading options.
Their focus on technology, particularly their AI chatbot, demonstrates how seriously they take to provide customers with the latest tools and resources.
Although there are many positive aspects, users should be aware of a few drawbacks. The website, according to several visitors, occasionally moved excessively slowly, making it challenging to use.
Additionally, customers may get concerned about control and compliance if they are not given clear information regarding licensing or laws.
Also Read: Fidelcrest Review 2023
Traders With Edge Review FAQs
What types of accounts does Traders With Edge offer?
Traders With Edge provides diverse account options, including the Turtle and Hare accounts, catering to different trading styles and paces.
Are there any withdrawal restrictions?
Withdrawals can only be made once every two weeks, and there are different minimum payout amounts based on the withdrawal method chosen.
Is Traders With Edge a regulated platform?
The platform doesn't provide transparent license or regulation data, which potential users should know.
