They definitely aren't the first or only ones with some kind of consistency rule. And ulike someone claims here, they are very transparant about their rules. Everything is explained in great detail. If he had half a brain he would have seen that in the FAQ.
I still dont get why use Savius there are 6 steps 2 steps to get to the point where you can be paid, limited contracts in each step(i dont know if this is restricted on their end so going over doesnt cost you the account), trailing drawdown on unrealized profit(same as companies using the leeloo model but typically if your using this model you have uncapped contract trading here you are still capped), the cost is high, I would say that the only benefit would be that its a 1:1 profit target risk but again the dd trails with unrealized profit. Uprofit has a account with 1:1 5k profit target to a 5k fixed drawdown for $350 even before this.
There is no unrealized/live trailing with Savius. Intraday trading yes, meaning that if you were to close out of a trade on $200 dollars but was up $500, the drawdown you have to work with would still be $4000 compared to Leeloo and Apex $3700 if the starting drawdown was $4000. TakeProfit I believe does this unrealized/live trailing only on their live account. More contracts available to trade with does not mean more money from my experience. If you are risk management savvy then sure. If you know how to buy cheap for say 20-30 ticks sometimes on NQ/MNQ and risking 20 micros, sure. However if you keep hitting your head on the 20-30 ticks cheap trades without stopping then you will blow the account. I can tell you off of my head that Savius has a better career path because of $4000 drawdown to $3500 profit first stage, $4000 drawdown to $2500 second stage. I do not wish to get in the details since pros and cons are on all the websites based on the trader’s perspective. It is possible to make on average $3-5k a month with just one contract from NQ. What drove me to like Savius better was that they never even had a 1:1 ratio of drawdown vs profits. That was an advantage to me right there. There is no other career path like Savius online at the moment. Sorry but I think Earn2Trade (low key my 3rd best but do I have to still put up my hand to ask for live commissions for micros or is it automatic now like other firms?) got their career-path idea from Savius. Savius do have some unique traits like the intraday drawdown (which I do not like, wish it was EOD), and their 6 steps but you do start to get paid once you completed step 3. I understand that all of the companies look at each other to see what they are doing, who wouldn’t? Some try to be unique but it’s just another copy and paste system. Only if plagiarism was a thing in this industry. Uprofit is AWESOME for the next two days. TST use to do that static thing at first but they changed over the years, going to Facebook and such, companies do have to survive right. I can go on and on but I wish to move on from this rant. My advice to you from a trader to another, use one or two companies for the most part. You said that you have gotten paid out from Uprofit, I think you should stay with them. If you are comfortable with unrealized PNL, well, good luck. One less thing for me to worry about if market whipsaws and I have max contract on or huge announcement like the one I had with LeeLoo buying for cheap with 5 copied accounts but 20 contracts on each where I made profit only for Leeloo to tell me I failed. It’s somewhere in this tread you have to look for it if you want to. Another advice, see those youtubers who have their own special codes and promoting some of these companies, just be wary of them. I think one of them have comments turned off these days not sure why. One last advice, think of how many trades you have left before the account is blown. I call it “Token Trading”. Sounds cliché, but it works for me especially in a tight spot. I am not thinking for $$$ but how many chances before I blow my account. Those chances are actually trading days. Halt days/holidays are not included. I look for the simplest strat I know and work my way from there. As you can see I am in a tight spot right now based on my last post. Listen to some, they see what I see and perhaps even more. If a company has these contests for cheap but only one is eligible for a PA, suspicious much? If a company came on the scene and is offering all these discounts @ small intervals doesn’t it sends off some alarm bells? I am grateful for all these companies but not grateful to them. Everyone wants to make money. Apex is like the Expedia and the Travelocity of the hospitality industry, like the Walmart of the grocery industry. I am grateful that Apex showed me how ridiculous live trailing drawdown is. How many sheep flock to the wolf? I admit I “drank the Kool-Aid” as one might say. I am still drinking the Kool-Aid, but this one has given me 9k in the bank thus far based on my performance. I must admit also that I got paid out with TST several years ago of 3k but at the moment Savius fits my liking. Crap, I had a lot to say, hope this helps.
All of these futures trading prop firms suck big. Do not buy a challenge if it has: trailing drawdown; profit target higher than drawdown; pay monthly fee; pay exchange fee after you get funded; has consistent rules. There are much better options out there. Generally, forex prop firms are 10 times better than futures prop firms. If you trade futures, trade CFD in a forex prop firm, which gives you much better value. Look for a prop firm challenge that: pay cheap one time fee; has fixed drawdown; profit target is less than drawdown; do not have any consistent rules and can trade news and hold positions overnight and over week end; give you free extension and unlimited free retrials if your account is positive at the end of challenge, and pay back your fee when you get funded; The best site to learn how to choose a good prop firm: https://www.forexfactory.com/thread/1067970-prop-firm-hub
So, obviously I am grateful to bring back the account from a catastrophe and will be better, for sanity’s sake, that I do not trade so aggressively aka overtrading again . 21 Tokens and counting.
This. Apex made some very user-friendly rules changes lately, but they also have some very murky language in their rules—look at the part about trading news, for example. Apex doesn't clearly define what is and isn't news and exactly what counts as trading it. On the other hand, Apex reguarly offers steep discounts -- 70-90% off. So it's worth picking up a few accounts for $20 or whatever, even if you treat them as disposable practice accounts to test strategies. Topstep is very expensive by comparison, and the rules are unforgiving, especially considering the price point. But Topstep has the clearest documentation of all the futures prop firms I've seen. I would look into FTMO. It's CFDs, not futures, but the company is well-established and their swing accounts have very favorable rules compared to almost every futures prop, including better drawdowns. You also get free resets if you fail the combine but remain in profit. The big downside, in the U.S. at least, is that you have to place orders using MetaTrader.
Apex has huge activation fees. That's where they screw over their clients. Every copy account requires an activation fee. Start adding that up and Apex is probably the most expensive out there.
As long as they pay fair and square. By signing up multiple accounts a few will surely fail but if one or two get thru then a good trader can get back in excess of costs.
For FTMO, I do recommend to inquiry about live trailing. When I was trying to understand their verbiage about 2 or more years ago, they then came out and told me that it was live trailing drawdown. How? Well, if you were to leave your trades overnight and market goes against you, but you are still in the positive etc, it will count against you in the drawdown.
My understanding is that the $10,000 fixed daily drawdown limit does reset everyday so even though it is a fixed drawdown (and not trailing) that if you have a position you leave overnight that you must account for that $10,000 on positions carried over. Intraday during the same session--the profit you have acts as an addl buffer--so for example if you have $8,000 profit intr-day--your new daily drawdown limit (during that same session) is $18,000 ($10,000 plus the $8,000, but if you keep that position into the new daily session the next trading day it is back to a $10,000 limit--so in my opinion it is still best for just day trading and closing all positions before end of session and just start new trades the next trading day