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There are numerous proprietary trading firms in the world, and it can be difficult to determine which one is best for you and your trading style. Because it is one of the oldest online prop firms, FTMO proprietary trading firm has received a lot of attention.
FTMO traders can obtain funds more easily than other prop traders by passing the two-phase challenge. However, is FTMO better than other prop firms out there? Let's take a look at how FTMO compares to Traders With Edge, a prop firm that is centered around its traders.
While FTMO traders can get funds more easily, it's worth looking at how they compare to Traders With Edge. This prop firm is focused on its traders, which could mean that they provide a better experience for their clients. When it comes to picking a prop firm, you'll want to consider all of your options before making a decision.
No matter which prop firm you choose, make sure to do your research to ensure that you're getting the best possible quality of those services.
So, which firm is better? Let's take a look at some of the pros and cons of each firm:
FTMO Pros:
- The company has been around for a long time, and it has a lot of experience in the industry.
- FTMO has a good reputation, and it is known for being reliable and trustworthy.
- FTMO offers a wide range of services, including education, trading tools, and support from experienced traders to any FTMO trader in their FTMO community.
FTMO Cons:
- The company has fewer accounts to offer for any FTMO trader
- Challenge accounts are not flexible enough for any experienced trader
- Much more expensive than other prop firms
Traders With Edge Pros:
- The company has a bunch of products to choose from. They have 1 Phase Challenge Accounts, 2 phase Challenge Accounts, and Instant Funding.
- Traders With Edge is focused on technology, and the company uses the latest tools and strategies to help its traders succeed.
- The company offers a variety of resources, including training, trading tools, and support from experienced traders.
- They offer Customizations of accounts
- Customer service is 24/7
- Offers a demo account or a free trial account for those who want to test out their products, tools, and service.
Traders With Edge Cons:
- Less established than FTMO
About FTMO the proprietary trading firm
FTMO is a unique trading firm that was founded in 2014 by a few young traders who got together in Prague. They shared their trading systems and ideas about money and risk management, and soon the project took shape.
Since then, FTMO has developed a two-phase evaluation process to find talented traders from all around the world. The FTMO Challenge and Verification stage are specifically tailored to discovering trading talents.
Different challenges offered by FTMO
FTMO offers a variety of different trading challenges to help traders get started. The standard two-phase challenge is the most popular, but FTMO account also offers an aggressive version of the standard two-phase challenge. Additionally, traders can trade at FTMO with a trading account size as small as $10K or as large as $200K.
After completing the evaluation process, FTMO offers to scale consistent traders up to $2 Million. Traders can also look forward to receiving an 80% profit split on their profits which is then upgraded to 90% once they are eligible to scale their accounts.
Who is Traders With Edge and how does it work?
Traders With Edge believes that anyone can be a successful trader with the right tools and education. That's why they offer a wide variety of programs and challenges that are suited to traders of all skill levels, in a fair and transparent trading environment. Whether traders are looking for large trading capital or just starting their trading career, they can help.
If you're a talented trader with a proven track record, they can provide you with the capital you need to grow your trading profits. They have several programs and challenges designed to fit the needs of most traders, so you can find one that's right for you. And because they believe in transparency, all of their challenges are run in a fair and transparent trading environment.
Whether you're looking for funding, education, or both, Traders With Edge can help you take your trading to the next level. Visit their website to learn more about their programs and challenges, and how they can help you grow your trading career.
Different assessments offered by Traders With Edge
At Traders With Edge, traders can choose between two different types of trading assessments: the one-phase Turtle assessment or the two-phase Hare assessment. These assessments are designed to help traders find their ideal trading style and to match them with the right funded account size.
The smallest initial balance that traders can trade at Traders With Edge is $2,500, while the largest account size is currently $200,000. However, Traders With Edge plans to offer even larger initial account sizes shortly, up to $1 million with different tradable assets in all financial markets. Once traders pass this evaluation course, they become a funded trader and receive funded trader accounts which can then be scaled up to $3 million with their Rapid or Organic scaling plan.
Traders receive 80% of the profits (which can be upgraded to 90%) that are generated on their funded accounts. In addition, Traders With Edge offers Instant Funding for serious traders so they can start trading using a funded account immediately.
Traders With Edge Customized Prop Accounts
There are many different ways to customize your account when you use Traders With Edge. You can increase your Maximum drawdown and your Profit share and even remove your Maximum Daily Loss Limit. You can also change your Trailing Maximum Drawdown to a Static Maximum Drawdown, double your leverage, and hold your trades over the weekend. Additionally, you can add 60 Days to your phase-one Hare assessment, or remove the need for a Stop Loss. All of these customization options allow you to tailor your account to your specific trading style, which can increase the chances of passing your assessment.
Customizing your account is a great way to increase the chances of passing your assessment. By tailoring your account to your specific trading style, you can make sure that all the aspects of your trading are taken into account. This can give you the edge you need to pass your assessment and start trading with a funded account.
If you want to learn more about Traders With Edge or any of the other customization options they offer, you can check out their website or contact their customer service team. They will be able to help you customize your account to match your trading style and increase your chances of success.
Challenge Price Comparison: FTMO vs Traders With Edge
When it comes to trading, there are a few different firms that offer assessments to help traders determine if they are ready to start trading with them. FTMO and Traders With Edge are two of these firms, and in this article, we will be comparing the cheapest accounts and challenges offered by each firm.
The cheapest challenge is offered by Traders With Edge, with their $5K assessment at $69. This is the cheapest two-phase assessment out in the market at the moment. The cheapest FTMO challenge comes in at $150 for their $10K challenge.
Traders With Edge also frequently offer specials when buying multiple assessments, offering a 50% discount on the second assessment when traders checkout. This would bring their cheapest assessment price, for a two-phase assessment, down from $69 to an average of $51.75.
When it comes to account size, FTMO offers a $10,000 account for their cheapest challenge, while Traders With Edge offers a $5,000 account. This means that traders who are looking to start with a smaller account may be better off going with Traders With Edge.
50K challenge:
When it comes to prop firm challenges, there are two popular options: Traders With Edge and FTMO. Both offer a $50,000 assessment, but which one is more affordable?
At the time of writing this article, the $50K challenge offered by FTMO cost around USD 334. However, FTMO accepts payments in euros rather than USD, so the actual cost will vary depending on the current exchange rate. In comparison, the $50K assessment offered by Traders With Edge costs USD 330. So based on current prices, Traders With Edge is the slightly cheaper option.
Even though the initial cost is cheaper at Traders With Edge, you can obtain discounts in a variety of ways by interacting with their online community. Additionally, Traders With Edge occasionally offers special promotions that can provide significant savings on assessments. As a result, it is often possible to obtain an assessment from Traders With Edge for much less than the list price. For anyone looking to save money on their assessment costs, Traders With Edge is worth considering.
Traders With Edge, a community-oriented prop firm
Traders With Edge is a prop firm that has always been about the community. It's also the best way to discover trading talents. They offer a variety of programs that traders can choose from, and they also actively engage with their traders through their website. This allows traders to communicate with one another directly, rather than through a third-party app.
Traders With Edge is constantly looking for new ways to engage with its community. One way they've done this is by building a community section on their website. This allows traders to interact with each other directly, rather than through a third-party app.
The Traders With Edge community is a great place for traders to connect and share information. Members can ask questions, seek advice from experienced traders, and learn about new and improved trading strategies. The community is also a great place to keep a trading journal and track your progress. In addition, the Traders With Edge support team is always available to answer any questions you may have. Whether you are a beginner trader or an experienced pro, the Traders With Edge community is a great resource for all your trading needs.
The community website offers a great way for traders to earn discounts on assessments and educational products from Traders With Edge. Community members can earn points that they can use to purchase products, and traders can earn a discount of up to 50% using their points. Additionally, traders can quickly earn a discount of up to 20% by heading to the Traders With Edge discount page.
How does Traders With Edge compare to FTMO?
Traders With Edge account vs FTMO account
Traders With Edge offers a variety of account types, each with its aggressive challenge levels, allowing traders to purchase the account type that best fits their trading style. FTMO traders are only able to undertake the classic two-phase FTMO challenge but with the option to upgrade to the aggressive challenge for a fee, giving them an increased maximum drawdown with an increased profit split target.
The main difference between the two services is that Traders With Edge offers more account options to choose from as well as the ability to take on more aggressive challenges. This makes Traders With Edge more flexible for different types of traders.
Trading Objectives: Traders With Edge Hare Vs FTMO Challenge
Below are the basic trading objectives for the Traders With Edge Hare and the FTMO challenge.
The two trading challenges are very similar, but there are a few key differences. First, the maximum leverage you can get with FTMO is much higher than with Traders With Edge. However, keep in mind that FTMO traders are stuck with the trading conditions and rules shown above, while Traders With Edge traders can customize their assessments. This means that you can increase your maximum loss or remove your daily drawdown limit if you choose the Traders With Edge challenge.
Assessment Rules: Traders With Edge Turtle
If you would like to obtain a funded account faster, or if you would like to avoid high-risk activity, Traders With Edge offers a one-phase assessment. The trading objectives are as follows.
The Traders With Edge Turtle assessment is a great option for traders because the profit split is the same as the two-phase assessment. This makes it an attractive choice for traders who want to maximize their profits.
Trading Rules: Traders With Edge Instant Funding
The Instant Funding program at Traders With Edge allows traders to bypass the evaluation course process, making it easier and faster to get started trading. FTMO does not offer this Instant Funding Program, which can make it more difficult for a professional trader for example to get started if they opt for instant funding.
While the other assessments have limitations on losses and daily drawdowns, the Instant Funding program offered to traders at Traders With Edge does not. This allows many traders to focus on trading without worrying about potential failures or breaches.
When traders hit their profit target, Traders With Edge offers a huge initial scale of 4X. This means that if you bought a $20,000 account, you would be scaled up to $80,000.
After reaching a new level, traders can request a payout after 5 minimum trading days and then every 5 days after that provided profit target is reached.
This allows traders to quickly and easily increase their earnings, without having to wait a long time to receive their payouts.
With an Instant Funding account, traders can 2X their account after the initial 4X every time they hit the profit target. This can continue until they reach an account size of $1.28 Million. Money management is crucial when trading on Instant Funding accounts.
Traders With Edge vs FTMO Scaling Plan
As a trader at Traders With Edge, you have two different options for scaling your account. The standard plan, which is offered by both Traders With Edge and FTMO, increases your account balance by 25% every 4 months. However, Traders With Edge also offers a Rapid scaling plan, which is by far the fastest way to manage a million-dollar account.
The Rapid scaling plan is the fastest way to grow your account exponentially in the trading industry. This is how physical prop firms work in the real world. The Rapid scaling plan incentivizes traders to leave their profits in their accounts, so they can rapidly grow their funded accounts and receive more profits in the long run. From your small initial account balance to trading up to a million, that's something rapid scaling can do.
Traders With Edge offers a unique feature that allows traders to trade up to $30 Million collectively. This is a benefit that is not offered by any other prop firm. After trading with Traders With Edge for at least 2 years, traders are taken to large institutions that will fund them up to $30 Million collectively. This allows traders to have the potential to achieve greater success in their trading career.
Platform
Although the MT4 trading platform is no longer available from the Apple app store, it is still available on the Google store. This platform is popular among traders as it offers a variety of features and tools that can help them manage their trades. The mobile apps offered by both Traders With Edge and FTMO give traders remote access to their accounts and platforms, so they can continue trading even when they're not at their computers.
Apps
FTMO and Traders With Edge offer traders apps to help them with their trading. FTMO offers the ultimate trading apps, which include the Account MetriX, Account Analysis, Statistical App, Trading Journal, Mentor App, and Equity Simulator. The FTMO mobile app helps FTMO traders with their trading.
The ultimate app for traders is focused on helping them monitor their evaluation process remotely manage their status, stay disciplined with their trades, and access community resources and account metrics. The evaluation process consists of not only passing but also checking trades and strictly following rules. This all-in-one app is available on both mobile phones and computers, making it easy for traders to stay connected and informed.
The Traders With Edge mobile phone application is a great resource for traders who want to stay connected with the community and have easy access to website resources. The app includes many of the same features as the community website, making it a valuable tool for traders on the go.
Although traders with edge and FTMO account holders have different features, they both have access to a trader dashboard. This dashboard is designed to help traders keep track of their progress and performance. Whether you're an FTMO or a Traders With Edge client, you can access your account information and customer support from your mobile phone.
Community Engagement
When it comes to community engagement, Traders With Edge and FTMO differ significantly. Traders With Edge offers regular giveaways and competitions, allowing traders to win assessment accounts through either trading assessments or store credit giveaways. In contrast, FTMO does not offer any kind of giveaway or competition at this time.
In addition, Traders With Edge is set to launch its education portal soon, which will give traders access to high-quality courses from some of the best educators out there. Through this trading academy, traders will be able to improve their strategies and increase their chances of passing the Traders With Edge assessments. Overall, it's clear that Traders With Edge is dedicated to supporting its community in a variety of ways.
One way that Traders With Edge helps traders succeed is by providing a cheat sheet that covers the main reasons why people fail and what traders can do to improve their chances of success. In addition, Traders With Edge takes feedback from traders seriously, using it to improve the program and support their traders. As a result, Traders With Edge is dedicated to helping their traders succeed.
Affiliate Program
If you're not a trader, don't worry! There are ways to profit from prop firms not only in your positive trading results even if you're not actively trading. FTMO offers affiliates a commission of 8% on the first purchase made by any referred trader.
The Traders With Edge affiliate program pays out up to 20% on assessments, so you can earn commissions long after your referrals have made their first purchase. In addition, when the education courses are launched, affiliates will earn up to 30% on purchased courses.
If you are a website owner, social media influencer, or have any other online presence where you can promote prop firms, and provide negative or positive feedback, then this is your chance.
Education Program
If you're an educator who can create online trading courses, Traders With Edge offers a great way to sell your courses and reach out to a large pool of traders. They will help you get exposure and generate more sales for your courses without you having to do any additional marketing. In addition, their community website is the perfect platform for educators to share their courses with traders from all over the world.
Conclusion
FTMO and Traders With Edge offer traders access to large funds and trading tools to help traders succeed in their trading careers. However, there are some key differences between the two firms that show why Traders With Edge is better than FTMO.
At Traders With Edge, you can personalize your two-phase assessment to fit your trading style which will test your trading skills. They also offer a one-phase assessment and Instant Funding. Plus, they offer to fund traders up to $3 Million, while FTMO only offers to fund traders up to $2 Million. So if you're looking for a more customizable and higher-funded experience, Traders With Edge is the choice for you!
In many ways, Traders With Edge offers more than FTMO for any trader that is looking for more than just the standard challenge. With its unique features, powerful tools, and extensive support, traders of all skill levels can benefit from what TWE has to offer.
