Elite Trader Funding is among the best futures prop trading firms that offer a promotional code. This article provides an overview of Elite Trader Funding to help you decide if it’s the right prop firm for you. If you stick around until the end, you’ll discover the promo code can slash your evaluation fees by 65%. Let’s dive in.
Understanding Elite Trader Funding
Elite Trader Funding assesses potential traders by providing simulated trading accounts filled with demo capital. If these individuals prove successful in the evaluations, the firm offers them an equivalent amount of actual money to trade with. The evaluation process is notably flexible and governed by minimal rules, the paramount being to avoid hitting the maximum loss limits, also known as the drawdown, during the evaluation period.
Below is a concise overview of the evaluation programs offered by Elite Trader Funding:
- One-step Evaluation: This evaluation requires a minimum of 5 trading days. You begin with a specified maximum drawdown, which is the highest loss your demo account can register. As you profit, the drawdown is recalculated by subtracting your profits from the initial drawdown value, effectively increasing the threshold of your account’s lowest permissible balance. To pass, your profits must exceed the original drawdown amount by at least $100. Additionally, all positions must be closed at least one minute before the trading day ends. If you adhere to these rules, you’ll be allocated an Elite funded account within 72 hours post-evaluation.
- Static Drawdown Evaluation: This evaluation features a constant drawdown that doesn’t change with account activity. The drawdown remains fixed regardless of profits or losses. The other rules from the one-step evaluation apply here as well.
- End-of-the-Day Drawdown: The unique aspect of this evaluation is that the drawdown adjusts based on the account balance at the close of each trading day. While you must avoid surpassing the set drawdown limit, any profits earned are added to your account’s balance to establish a new minimum balance for the subsequent trading day.
- Diamond Hands: This evaluation operates under the same drawdown adjustment rules as the End-of-the-Day Drawdown, with the key distinction that you are permitted to hold your trades open overnight and throughout the weekend.
- Fast Track Evaluation: Unlike other evaluations with no time constraints, the Fast Track must be completed within 10 trading sessions or 14 calendar days. Furthermore, the maximum drawdown is dynamic and continuously trails your account balance, adjusting irrespective of the profits you earn.
Elite Trader Funding Price
The cost of Elite Trader Funding’s evaluation programs varies based on the chosen program and the demo account size. Here’s a breakdown of the prices:
- One-step Evaluation: Prices range from $80 to $655, with demo accounts varying from $10,000 to $300,000 in size.
- Static Drawdown: This evaluation has two tiers. The first tier costs $135 for a $100,000 demo account, while the second tier costs $300 for a $150,000 demo account.
- Fast Track Evaluation: This program is priced between $45 and $150, offering demo accounts ranging from $25,000 to $250,000.
- End-of-the-Day Drawdown: The cost is between $275 and $745, with demo accounts available between $25,000 and $250,000, depending on the chosen tier.
- Diamond Hands: This evaluation costs $365, providing access to a $100,000 demo account.
How Does the Elite Trader Funding Promo Code Work?
Elite Trader Funding evaluation programs are subscription-based. This means that if you don’t complete your evaluation within the first month of your subscription, your progress will be rolled over to the next month. To pick up from where you left off, you’ll have to renew your subscription. When you apply an Elite Trader Funding promo code while purchasing an evaluation program, that code will reduce the cost of your first payment for the program. The Elite Trader Funding promo code doesn’t apply to future renewals of your subscription. Also, you can’t use an Elite Trader Funding promo code to lower the cost of retrying your evaluation.
Is Elite Trader Funding Worth It?
Elite Trader Funding is truly worth a try, as you’ll also agree after checking out the following benefits:
- Cheap Retrials: If you don’t pass the evaluation, you can retry it for just $75. This applies to any evaluation program and demo account size.
- Multiple Trading Accounts: The platform allows you to create more than one demo trading account using a single login. Successful completion of an evaluation for a demo account leads to the allocation of capital for an Elite account.
- Fair Rules: The rules set by Elite Trader Funding for its evaluation programs are designed to be fair and easily adhered to.
- Free Trial: You can try Elite Trader Funding once for free before committing financially. However, passing the evaluation on the trial account does not qualify you for a funded Elite account.
- Promo Code: The Elite Trader Funding promo code at checkout can lower entry barriers into the firm.
- Favorable Profit-sharing Ratio: Elite Trader Funding has a high profit-sharing scheme, allowing traders to retain 90% of their profits after reaching a specified earning threshold.
Elite Trader Funding Promo Code: Final Thoughts
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Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.