Has anyone used them? Is the Retail Path subscription worth it? It is $200 per month with add-ons available, no drawdown (to turn off the drawdown it is $49.00 for add-on). No weekly max loss (add-on is $49.00). Without turning off add-ons there is a 1k drawdown and a $1,500 weekly max loss. So, $300 total with two add-ons turned off. I would need to make a profit target of $2,500 for Step 1 and $10,000 for Step 2 profit target. Do you get paid real cash in step 2 if make over 10k and successfully met all qualifications/rules? It says "Up to $50,000 Real Money Payouts". I thought Stage 2 was just paper trading. You also have a consistency rule" maintain an average of 50% of your profits from best trading day for 6 consecutive, or non-consecutive days". There is also a Trailing Max Drawdown default of 2k. You can bump it up to 2,500 for $49.00 and up to 3k for $99.00. Is it realistic to reach profit targets with 1k max loss drawdown and a $1,500 weekly max loss? And maintain the consistency rule?
They certainly are a well known company in the industry. I might be missing something but i don't see the option to turn of draw down, all i see is an option to increase it to a max of $3K (for the retail path). Also, at least with the futures account, after passing stage 2 you get an account with $100K buying power but only $1,5K draw down for a $5K target.
I've heard they are well-known. You need to click on "Want to Customize Your Qualifications Rules?" Then click on "Default Daily Loss Limit 1k" and you will see "Turn Off Daily Loss Limit $49.00" at the bottom of the screen. I wasn't sure if you get paid in Step 2 if you make over the profit target of 10k and satisfy all qualifications? Or is it in Step 3? Also, do you need to keep paying the monthly subscription if you satisfy all steps?
Ah, you mean turn of the daily loss limit, something entirely different from the draw down . I don't know how the payouts work or if you need to pay the subscription fee during both stage 1 and 2, but i would assume you don't have to pay it when you are funded since as a funded trader you need to pay a fee. Its either $399/month for "tech, market data, risk management and back office support or Futures – Fees include a $300/month administrative fee plus market data. (this was well hidden in the FAQ and it's unclear which of those it actually is). It also seems weird that they say there is a profit split up to $50K in real money payout in stage 2, while the target is only $10K. I guess if you want more/correct information you should contact them directly. *I have absolutely no experience with this company nor do i have any experience with T3, i just took a look at their website and FAQ.
During Step 1 and Step 2 you have to pay the monthly subscription fee. I thought that may be the case if you reach Step 3. It is $650 monthly fee (stocks & options) if reach Step 3 for admin (Back Office support, tech, and etc.)
Where did you get the $600 from? All i found are the fees i mentioned earlier, which are for futures, and what i found in FAQ is $650 + data fees per month for stock and options.
It seems worth a shot for the Trader Path. I don't have many other options. I could use my offshore broker, but I think I would really need probably 1,500 or more for me. Ideally 3 to 5k. Fees with my offshore broker are not cheap, but get 6 to 1 leverage.
It's only worth a shot if you know you are profitable and can work with those rules, very few traders pass these kind of evaluation accounts.
Also, if you can afford the initial fee and the monthly fees once funded why not save up for 3-4-5 months and you would have the $3-5K you mentioned, without being stuck with all the restrictive rules.