Traders With Edge

The Prop Trading Alternative & Comparison

The Prop Trading alternative and comparison.

We’re on the Traders With Edge website and as you can see at the top, we’ve got the prop firm and the challenge type: Traders With Edge Turtle, the Traders With Edge Hare and The Prop Trading evaluation. The account size is $100K, so that we’re comparing them all on the same basis. The maximum account size after scaling means once you’ve passed a challenge account, if you are consistently profitable, the prop firm will continually add to your account to increase the amount that you can trade.

The maximum amount with Traders With Edge is $3 million. With The Prop Trading, it’s $1 million. The rapid scaling, is that available for both firms? It’s only available for Traders With Edge. It’s not available with The Prop Trading.

What does rapid scaling mean? Well, if you’re on our website, traderswithedge.com, and you go up to challenges, scaling plans, you’ll see a page that looks like this. It’s got both the scaling plans that we offer, and it gives a detailed description of them. There’s a video that explains the differences. There are some examples, there are some charts, and you can see just how much faster your account grows using the rapid scaling plan versus using the standard traditional type scaling. If you continue to scroll down, you’ll see there’s a calculator that we’ve made for you to be able to compare a standard scaling with a rapid scaling and how much that would equal for you.

So back to The Prop Trading comparison. If we scroll down, you’ll see the number of phases on the Turtle account is one phase, and both the Traders With Edge Hare and The Prop Trading evaluation account are two phase. The price in US dollars is $750 for the Turtle account. As it’s a one phase account, they’re typically a little bit more expensive. The Traders With Edge Hare is $590 and The Prop Trading evaluation’s $499. Just keep in mind that the maximum account size for Traders With Edge is $3 million versus The Prop Trading, which is only $1 million.

Is the fee refundable? It’s not refundable for the Turtle account, because it is a one phase account. It is refundable for both the Traders With Edge Hare and The Prop Trading evaluation account. Once you’ve passed your challenge, and then you’re eligible for your first payout, then you’ll receive your refund.

The target for phase one on the Traders With Edge accounts is 10%. On The Prop Trading evaluation, it’s 8%. The target for phase two on the Turtle account is not applicable because by this time, you would already be trading on a live account. The Traders With Edge Hare and The Prop Trading evaluation are both 5% for phase two.

The maximum drawdown for the Turtle account is 5% and it’s 10% for both the other accounts. The daily drawdown for the Turtle is 2.5% and it’s 5% for the Hare account and The Prop Trading account. The profit sHare across all of them is 80%, and the minimum trading days for Traders With Edge is 10 days. The minimum trading days for The Prop Trading is zero days. The minimum trading days for phase two is not applicable with the Turtle account, because you’d already be on a funded account. For the Hare account, it’s 10 minimum trading days. And for The Prop Trading, it’s zero. The maximum trading days, you’ve got one year to pass the challenge on the Turtle account, and you’ve got 30 days on both the Hare account and The Prop Trading account. The maximum trading days on phase two is not applicable for Turtle. And it’s 60 days on both the other accounts.

Can you hold over weekends? Yes, you can on the Turtle account and you can on The Prop Trading, but you can’t on the Traders With Edge Hare account. Can you use EAs? You can use EAs with both firms. Just check for approval with Traders With Edge first, before using the EA. This is because pretty much every firm has a rule that says that you can’t trade exactly the same strategy as other traders. And so what most firms won’t tell you is, if you go and you purchase an EA from somewhere and a bunch of other people are using that same strategy, well, you’ll lose your account, because too many people are using that same strategy. And it’s a big risk to the prop firm. They don’t necessarily always tell you that up front, but they will tell you once you lose your account because you’re using the same strategy with someone else. That’s why at Traders With Edge, we say you can use EAs, just get approval first, and then you can use them.

Both companies allow signals. Both companies allow news trading. You don’t get a free retry on the Turtle account because you’ve got one year to pass the challenge. So it doesn’t really make sense to offer a free retry on that. Both of the other accounts, you do receive a free retry. If you’re in profit when the time runs out and you haven’t violated any other rules, then you’ll get one free retry.

You can trade forex on all accounts. You can trade digital currencies. You can trade commodities on Traders With Edge, but you cannot with The Prop Trading. You can trade indices on all and you can trade share or stock CFDs with Traders With Edge, but you can’t with The Prop Trading.

Do they have trading competitions? Traders With Edge offers trading competitions where you can enter a competition and you trade a demo account against other people online. At the end of the period, typically 30 days, whoever wins, then they win a prop trading account. We do offer that, but The Prop Trading doesn’t offer that.

In terms of giveaways, both companies offer giveaways. An example of giveaways that Traders With Edge has run in the past is enter your name and email address to enter into the draw to win one of three $50,000 challenge accounts. Now that’s just an example of one of the giveaways that we’ve run in the past, and we’ll probably run at some point again in the future. Do the firms offer trader education? Yes. Both firms offer trader education.

Affiliate programs, Traders With Edge offers up to 20% commission for anyone you refer for the lifetime of the client. If you refer someone today and they make a purchase in two or three years, then you still get paid for that referral. So it’s kind of like having a passive income stream. The Prop Trading has an affiliate program. They don’t have any information about what the percentage is that they pay or how long they track the referral for.

So this concludes our The Prop Trading comparison and review. If you’ve got any other questions, then please post them in the comments below or view the website traderswithedge.com, and speak to us on live chat. And don’t forget to join our telegram group with other traders.

The Prop Trading is a prop firm based in Australia, offering services for traders around the world. They are offering trading accounts with access to forex, crypto and indices, with a mission to bring traders one step closer to their successful trading journey. Will Gomes, who is from the greater Brisbane area, is the acting managing director of the prop trading company.

With the mission to create an innovative, stimulating, safe and pressure free trading environment for traders, and to empower them to embrace opportunities with confidence, The Prop Trading aspire to become the partner of choice for traders around the globe. Not only that but they also aspire to create a collaborative, sincere, diverse and mutally beneficial relationship among their partners which is one of the reasons that the company still thrives despite the challenges that it faces.

The company believes that prop firms can be an absolutely great way for retail traders to reach that next level in their trading, from making small profits as a hobby, to managing large capital and trading for a living. Carrying that idea, they strive to be different and vows to make a huge impact on traders’ success. Like many of the firms in the industry right now, there is a 2 step process for their funding.

They are situated in Australia with their main headquarters located in Herston, QLD AU.

Prop Firm/Challenge

Size
  • Max Account Size After Scaling
  • Rapid Scaling
  • Number Of Phases
  • Price: $USD
  • Refundable Fee
  • Target Phase 1
  • Target Phase 2
  • Maximum Drawdown
  • Daily Drawdown
  • Profit Share
  • Minimum Trading Days Phase 1
  • Minimum Trading Days Phase 2
  • Trading Period Phase 1
  • Trading Period Phase 2
  • Hold Over Weekends
  • Use EA’s
  • Allow Signals
  • Allow News Trading
  • Free Retry
  • Trade FX
  • Trade Digital Currencies
  • Trade Commodities
  • Trade Indices
  • Trade Share/Stock CFDs
  • Trading Competitions
  • Giveaways
  • Trader Education
  • Affiliate Program Pays

Traders With
Edge Turtle

$ 100K
  • $3 Million
  • Yes
  • 1
  • $750.00
  • 10%
  • N/A
  • 5%
  • 2.50%
  • 80%
  • 10
  • N/A
  • 365
  • N/A
  • Yes
  • With Approval
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Up To 20% Lifetime

Traders with
edge hare

$ 100K
  • $3 Million
  • Yes
  • 2
  • $590.00
  • Yes
  • 10%
  • 5%
  • 10%
  • 5%
  • 80%
  • 10
  • 10
  • 30
  • 60
  • With Approval
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Up To 20% Lifetime

The Prop Trading Evaluation

$ 100K
  • $1 Million
  • 2
  • $499.00
  • Yes
  • 8%
  • 5%
  • 10%
  • 5%
  • 80%
  •  
  •  
  • 30
  • 60
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes

Choose your account type

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