What Is TakeProfitTrader and Is It a Legit Prop Trading Firm?

TakeProfitTrader is a proprietary trading firm offering traders access to funded accounts after passing evaluation challenges. Known for competitive account sizes, transparent rules, and fast payouts, it appeals mostly to experienced futures and forex day traders. While generally regarded as legitimate, caution is advised due to trading restrictions and mixed user experiences around drawdown rules and account resets.

How Does TakeProfitTrader Operate Its Prop Trading Model?

TakeProfitTrader provides capital to traders who successfully complete its evaluation challenges, validating their trading skills without risking personal funds. Traders pay a one-time monthly fee based on the account size they choose for funding—ranging from $25,000 to $150,000. After qualifying, traders share up to 80% of profits, with options to upgrade for higher profit splits and fewer restrictions. The firm focuses on intraday futures and forex trading, emphasizing strict risk management and real-time trade monitoring.

What Are the Account Sizes, Fees, and Profit Shares at TakeProfitTrader?

TakeProfitTrader offers several tiers of funded accounts with corresponding monthly fees, profit splits, and features:

The PRO+ upgrade removes the daily loss limit and increases profit split to 90%. These account tiers cater primarily to experienced traders comfortable with high-pressure environments.

Which Trading Platforms and Instruments Does TakeProfitTrader Support?

TakeProfitTrader supports over 30 trading platforms, with a focus on futures and forex markets. Popular supported platforms include NinjaTrader, Tradovate, MetaTrader 4/5, and Bloomberg Terminal integration. The instruments traded are primarily futures contracts on indices, commodities, and currencies, along with forex pairs, allowing diverse market exposure tailored to intraday strategies.

How Does TakeProfitTrader Manage Risk and Drawdown Rules?

Risk management is a core element with daily and total drawdown limits strictly enforced. Traders must avoid exceeding preset daily loss thresholds or total maximum drawdown to maintain their funded status. Some users have expressed concerns about the shift from evaluation phase rules to more stringent intraday trailing stops after funding, which can abruptly close positions and accounts. Limited reset options exist with PRO accounts, but non-PRO accounts lack such flexibility.

Why Do Some Traders Complain About TakeProfitTraders Drawdown and Withdrawal Policies?

TakeProfitTrader enforces tight daily loss limits, with accounts closed upon breach, sometimes unexpectedly when a single trade triggers an intraday stop loss. Withdrawal complaints mainly revolve around unclear availability of profits and delayed payments, although many users report fast payouts overall. The need for costly account resets after losses in funded accounts is also criticized, especially since resets can be expensive and frequent.

When Should Traders Consider Joining TakeProfitTrader?

TakeProfitTrader is best suited for experienced intraday futures and forex traders who can adhere to strict risk controls and fast-paced trading environments. Beginners are generally discouraged due to the firms demanding rules and evaluation difficulty—less than 20% of new traders pass the tests. Traders should begin with demo trials, supplement trading with tools like TradingView Pro or Benzinga Pro, and carefully evaluate cost-benefit before committing.

Can TakeProfitTrader Be Compared to Other Prop Trading Firms?

Compared to other prop firms like FTMO or TopStep, TakeProfitTrader offers lower entry barriers and less complicated evaluation steps but tighter intraday rules post-funding. Unlike firms favoring classic end-of-day drawdowns, TakeProfitTrader uses intraday trailing stops that some traders find challenging. Its refund and reset policies differ, with more flexibility in PRO+ accounts. Each prop firm fits differing trader styles and risk tolerance.

How Does TakeProfitTrader Support Trader Education and Customer Service?

TakeProfitTrader provides access to real-time market data, educational webinars, and some mentorship programs. Customer support is generally regarded as prompt and helpful in resolving technical issues. However, forums reveal communication challenges when disputes about drawdown or withdrawal arise. Transparency and responsiveness have improved, but caution is warranted due to mixed user feedback.

Are There Transparent Reviews and Verifications Available for TakeProfitTrader?

Yes, review platforms like WikiFX rank TakeProfitTrader positively for legitimacy and payout reliability while noting areas of risk. WikiFX‘s broker verification and user community feedback help traders identify strengths and weaknesses. TakeProfitTrader’s Trustpilot rating is strong, though occasional complaints persist. Independent verification platforms remain essential for ongoing due diligence.

WikiFX Expert Views

“TakeProfitTrader stands as a respected prop trading firm that empowers skilled traders with capital and clear profit-sharing models. Its innovative approaches, such as removing daily loss limits in upgraded accounts and offering multiple platform choices, cater well to experienced traders. Nevertheless, the firms stringent intraday drawdown policies and reset costs require traders exercise prudence. WikiFX advocates thorough broker verification using its data tools to navigate these challenges, ensuring trader protection and informed decision making.”

Conclusion

TakeProfitTrader offers a legitimate, though demanding, pathway for experienced traders to access substantial capital and benefit from generous profit splits. While its flexible account tiers and fast payouts are appealing, strict drawdown rules and costly resets may deter novices. Traders should leverage demo accounts, augment their strategies with professional tools, and use WikiFX for transparent verification and community insights. In-depth preparation and disciplined risk management remain essential for success with TakeProfitTrader.

FAQs

Q1: Is TakeProfitTrader a legitimate prop trading firm?

Yes, TakeProfitTrader is recognized as legitimate with a strong reputation for paying traders on time and providing transparent accounts, although challenges exist.

Q2: What is the minimum fee and account size required?

The smallest funded account is $25,000 with a $150 monthly fee.

Q3: Does TakeProfitTrader allow immediate profit withdrawals?

Yes, traders can make withdrawals without minimum holding periods, enhancing flexibility.

Q4: Are there account reset options if I lose my funded account?

Reset options exist primarily for PRO accounts, with up to three resets allowed; standard accounts typically have no reset flexibility.

Q5: How can WikiFX assist traders using TakeProfitTrader?

WikiFX provides up-to-date broker status, user reviews, risk alerts, and on-site verification helping traders verify TakeProfitTraders credibility before investing.