Traders With Edge Review

Traders With Edge Ratings at a Glance

Traders With Edge fronts a comprehensive and all-inclusive product offering enabling traders with different strategies, goals and financial situations to benefit. Like other prop firms, potential investors must pass the test or evaluation program before funding. The programs are called Challenges and are of two types — the Turtle and the Hare. Both Challenges have similar rules or guidelines but different success targets. 

The rules for risk management comprise the hard and soft rules. The daily and maximum drawdown fall under the hard rules. In contrast, the soft rules include using stop-loss to limit risks and closing positions before weekends. Breaking the hard rules can result in account revocation, while violation of the soft rules leads to the automatic closing of your position. On completing a Challenge, you get funded and can earn an 80% profit payout for your trades. Here's how the two Challenges compare.

The Turtle Account

The Turtle Account has a slower pace and requires less stringent requirements for passing, making it ideal for beginner traders. It employs a single-phase evaluation model or Challenge that can last 365 days maximum or 10 days minimum. The leverage is an impressive 1:20 for the demo and the funded account. Available account sizes range between $5,000 to $1 million. Traders can choose between standard or aggressive trading formats, which determine the pricing, profit target and daily and max drawdown. 

Pricing for the standard format ranges from $55 to $7,500, and the aggressive format ranges from $110 to $15,000. The pricing depends on the account size selected by the trader. The profit target is 10% and 20%, respectively, for the standard and aggressive formats. When using the standard format, you must ensure that your account doesn't drop more than 2.5% in a single day (max daily loss) or 5% in total from your initial equity amount (max drawdown) per the hard rules. The maximum daily loss and maximum drawdown limit are 5% and 10%, respectively, for the aggressive account.

The Hare Account

The Hare account involves a two-phase evaluation process and targets fast-paced traders or investor traders who want to start making a profit quickly as evident from its maximum evaluation period of 60 days or five days minimum. Investors or traders enjoy a robust leverage of 1:50 for the demo and live accounts. Unlike the Turtle, the Hare account offers a limited funding size ranging from $5,000 to $100,000 for the standard format and $5,000 to $50,000 for the aggressive trading format. Pricing or fees range from $69 to $550 for the standard format and $138 to $660 for the aggressive format.

In keeping with the hard rules, you mustn't exceed a maximum daily loss of 5% and a maximum overall loss of 10% when using the standard trading format for phase 1 and 2 evaluations. For the aggressive format, it is a 10% maximum daily loss and a 20% maximum overall loss in both phases. The profit targets for the standard format are 10% in phase 1 and 5% in phase 2, while for the aggressive format, they are 20% in phase 1 and 10% in phase 2. The dual evaluation phases in this account package exist to test traders' consistency under different conditions. You get funded once you hit the target profit for both phases without breaching any rules. 

Instant Accounts

Traders With Edge offers direct or instant funding to qualifying experienced or beginner traders, eliminating the need for rigorous, stringent and time-consuming evaluation processes. The idea is to fast-track access to funding, enabling traders to quickly capitalize on existing market opportunities without committing their capital. By providing traders with speedy and flexible access to capital via this innovative option, the platform makes the market accessible to a diverse range of traders. 

Beginner traders can use the opportunity to hone their trading skills and risk management strategies. At the same time, those with limited capital resources can leverage the opportunity to explore the market and build and diversify their portfolio. For seasonal traders, it provides them extra leverage and increased buying power needed to capitalize on available market opportunities. Ultimately, access to the platform's instant funding can lead to a more robust and adaptable trading approach. 

However, the lack of evaluation for the instant funding account means lower payout ratios than the Turtle and Hare account. Also, only a few account sizes are available. These range from $2,500 to $10,000 for the aggressive format and $2,500 to $20,000 for the standard with leverage of 1:50 and 1:20, respectively. To apply, traders must pay a one-time desk fee of $125 for the standard format and $250 for the aggressive. You must have comprehensive trading experience, demonstrate excellent risk management strategies and be willing to maintain the platform's compliance requirements to qualify. 

Scaling Plans

Traders With Edge offers two broad scaling plans for the two major account types. These include:

• Organic scaling: Choosing this scaling resets your account balance after each withdrawal. The idea is to maximize short-term profit while sacrificing medium- to long-term gain. You can go for this scaling plan if you need immediate payment. Barring violations, the company will top up your accounts with an extra 25% of your starting balance, guaranteeing you made over 10% net gain in four months, with at least two being profitable.
• Rapid scaling: This scaling plan is ideal if you're looking to trade large-sized accounts quickly. Here, the scaling factor depends on the profit left in your account, meaning you must maintain some profits. Subsequently, the company will top it up monthly as needed. The idea is that by stacking profit and compounding the scaling factor, you'll reach an ideal balance where a fraction of your monthly profit will surpass your total withdrawal if you had an organic account.

The instant account also offers an excellent scaling plan with eight distinct levels. Your starting capital will increase each time your account grows by 10% and 20%, respectively, for the standard and aggressive format. Remember, you mustn't exceed a maximum drawdown of 5% (standard) and 10% (aggressive). Your trading capital can gradually build up to $1.28 million if you consistently hit the target profit without violating the drawdown.

Customizations

Suppose you're willing to spare more money. In that case, you can leverage the platform's customization to design an evaluation or Challenge that best suits your unique style. Customizations are add-ons that you can purchase to maximize your trading experience. Available customization for the Hare and Turtle accounts serves essentially similar purposes and can be used to: 

• Eliminate your max daily loss limit
• Increase your payout to 90% 
• 2X your leverage 
• Eliminate stop loss, risk per trade and max open risks
• Change trailing to static max drawdown 

Additionally, you can buy add-ons when trading the Hare account to hold a trade on weekends or extend the phase 1 Challenge by 60 days. For the instant account, customization helps you increase your payout by 60%, 2X your leverages and execute trades on weekends.

Other Services 

When you profit, the company also profits. So, to maximize your earning potential, the platform ensures that adequate educational materials and cutting-edge trading software or tools are readily available, fostering an environment where average traders can develop their skills or expertise and thrive in the market. On the website, you can find informative videos that provide valuable insights into different rules and trading tips and how to make the most of the challenges offered.

Its community section lets you discuss trade ideas, ask for investment risk advice, take courses and get mentoring from experienced professionals to increase your chances of success. While you should avoid mistakes during the evaluation, the teams are always ready to help you sort out issues should the need arise so you don't miss out on the long game. Benzinga rates Traders With Edge 5 out of 5 on product offerings.

Traders With Edge offers 24/7 intelligent assistant support throughout the year. Its artificial intelligence (AI) can answer 99% of your questions. You can also contact the company through live chat or by filling out the online ticketing or contact form. The company maintains an active presence on major social media platforms, including Instagram, Facebook, Twitter, YouTube, and TikTok.

The company has a 4.4 rating from 35 reviews on Trustpilot. Over 80% of users rated the company's customer service 5 stars, with many praising their professionalism and customer dedication. A significant percentage considers the platform highly recommendable. It is difficult to comprehensively understand the company's customer perception because of the absence of detailed reviews on many independent media. Benzinga rates Traders With Edge 4.5 out of 5 on customer service.

Traders With Edge safeguards user data using industry-leading best practices. All user information, including personal data and comments or posts on the platforms, is stored in a safe online environment. You have the right to all information rectification, restriction, erasure, transferability of data, objection and revocation. Participation fees are used to finance operational costs and other business-related expenses. Traders With Edge is neither a brokerage firm nor a financial custodian platform and so has nothing to do with users' funds. Benzinga rates Traders With Edge 5 out of 5 on security.

Traders With Edge provides a free 14-day demo trial for users who want to experience how the platform works. There are no initial or ongoing costs. Pricing for the two major programs — Hare and Turtle — depends on the account size and the trading format of standard or aggressive. 

The Turtle Challenge ranges from $55 to $7,500 for the standard format and $110 to $15,000 for the aggressive format. The Hare Challenge ranges from $69 to $550 for the standard and $138 to $660 for the aggressive format. 

Besides offering the lowest entry price ($55), the platform provides more payment and withdrawal methods than any other prop firm, with up to 32 payment options, including PayPal, Wise, Bank Transfer, Google Pay and Apple Pay. You can save up to 20% on your capital costs by completing tasks. Upscaling does not come with extra fees. Benzinga rates the platform 5 out of 5 on pricing.

Traders With Edge features a user-friendly website that makes navigation a breeze. A robust proprietary mobile app is also available for on-the-go access in Android and iOS versions. Setting up and getting started are hassle-free and take little or no time. As soon as you pay the program fees, you'll receive your logins and can immediately begin trading your favorite financial instruments via the highly advanced and industry-leading MetaTrader 4 or MetaTrader 5 trade execution platform. 

With over 1,000 tradable assets or financial instruments, including forex, stocks, indices, commodities and metals, it's impossible not to find your preferred tradable instruments. You can customize your Challenge to suit your trading style. The community area provides a highly interactive environment for camaraderie and learning among diverse traders. Various educational materials, including insightful videos and blogs, are available on the website to narrow the learning curve. And by leveraging the how-to pass your prop cheat sheet, traders can understand how to pass a prop challenge seamlessly.

The company hosts monthly trading competitions that promise substantial rewards to further gin-up traders' interest. There's also a big price giveaway where traders can win challenge accounts through either trading challenges or sweepstake giveaways. You can earn substantially per successful referral with the platform's affiliate program. The platform is available globally. Benzinga rates Traders With Edge 5 out of 5 on user experience.

Traders With Edge vs. Competitors

Traders With Edge has a few close competitors with similar operational frameworks. A few of these include SurgeTrader and FTMO. Like Traders With Edge, both platforms enable traders to access pooled resources to pursue more significant profits and bigger position sizes. SurgeTraders and FTMO offer single-phase and double-phase evaluations which align with TWE's Turtle and Hare Challenge, respectively. Traders With Edge beats both alternatives in every aspect, including pricing ( as little as $55), account size (up to $3 million) and available tradable assets (up to 1,172). 

Traders With Edge is the only prop firm offering a unique opportunity for traders to connect with larger firms and potentially manage up to $30 million after spending two years with them. Its affiliate programs also make it unique, promising a 20% payout on Challenges if you successfully refer a friend. The platform offers the most payment methods (up to 32), and its scaling plan is among the highest. 

Traders With Edge offers one of the most competitive prop-trading services in the industry. Traders can choose between single-phase and double-phase challenge systems and instant funding. The company is committed to helping its partners grow by providing educational resources, mentorship and advanced trading tools. Traders With Edge creates a conducive atmosphere for traders to improve their skills and excel in the markets — these salient qualities and its excellent customer service position the company as an industry leader in the prop-trading sector. Benzinga rates Traders With Edge 5 out of 5 overall.

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