Elite Trader Funding is a prop trading firm located in the USA.
In this article, you’ll get a review of this prop firm, including analysis and instructions to get funded with an account from Elite Trader Funding.
Here’s what you’re going to learn:
- What Is Elite Trader Funding
- What Can You Trade With Elite Trader Funding?
- What Are The Elite Trader Funding Account Sizes?
- What Is The Elite Trader Funding Leverage?
- How Much Is The Elite Trader Funding Payout?
- Elite Trader Funding Reviews
- Challenge – 1-Step Evaluation
- Challenge – End Of Day Drawdown Evaluation
- Challenge – Fast Track Evaluation
- Challenge – Static Drawdown Evaluation
- Challenge – Diamond Hands
- Elite Trader Funding Free Trial
- Elite Trader Funding Free Repeat
- Elite Trader Funding Platforms
- Elite Trader Funding Trading Hours
- Elite Trader Funding News Trading
- Is Elite Trader Funding Legit?
- Recap
- Learn More
What Is Elite Trader Funding
Elite Trader Funding is a prop firm located in Florida, USA.
What Can You Trade With Elite Trader Funding?
Elite Trader Funding is a prop firm that funds traders to trade Futures.
Here’s a list of all of the instruments categories:
- Equity Futures
- Foreign Exchange Futures
- Agricultural Futures
- Energy Futures
- Interest Rate Futures
- Metals Futures
- Cryptocurrency Futures
What Are The Elite Trader Funding Account Sizes?
The Elite Trader Funding funds traders with account balances that go from $10,000 up to $300,000. There’s no scaling plan.
There are five different types of evaluations to apply for the funded accounts. They are:
- 1 Step Evaluations
- EOD Drawdown Evaluation
- Fast Track Evaluations
- Static Evaluations
- Diamond Hands Evaluation
When you pass your chosen evaluation, you’ll get an Elite Account with the same characteristics as the evaluation account that you chose.
The prices of the smaller funded account start at $45 and go up to $590 for the bigger account. These are prices to take the challenges. Once you qualify for a real account, the fee is $80/month on any account type and size.
What Is The Elite Trader Funding Leverage?
The accounts balances announced are the final buying power, so the leverage doesn’t apply here.
Instead, you have limits on the number of contracts that you can trade on each account, which depends on the account size.
How Much Is The Elite Trader Funding Payout?
Elite Trader Funding shares the profits with the trader with an 80% profit split. You get 80% of all the profits that you made once you get funded, and the prop firm keeps 20% for them.
The exception goes for your first profits. You get them with no profit split, all your first $12,500 profits are yours entirely.
Elite Trader Funding Reviews
According to Trustpilot, Elite Trader Funding is classified as great. It’s scoring 4.0/5.0. It just doesn’t have tons of reviews, only 82 at the moment.
Challenge – 1-Step Evaluation
This challenge lets you apply for accounts between $10,000 and $300,000.
It was created for traders that like to trade fast and often.
Rules:
- Minimum days to trade: 5 days.
- Maximum trading days: There’s no maximum, you can take all the time that you want to finish the challenge.
- Max trailing drawdown: 10% on the smaller account and up to 2.5% on the bigger account.
- Profit target: Starts at 12.5% on the smaller account and goes down to 6.67% on the bigger account.
This challenge has 1 single phase. Once you pass it, you get funded with an Elite account.
Challenge – End Of Day Drawdown Evaluation
This challenge lets you apply for accounts between $25,000 and $250,000. Besides the trailing drawdown, which is considered at the end of the day, this challenge also has a daily loss limit.
Here are the rules:
- Minimum days to trade: 5 days.
- Maximum trading days: There’s no maximum, you can take all the time that you want to finish the challenge.
- Max daily loss: Around 2.2% on the smaller account and down to 1.7% on the bigger account.
- Max trailing drawdown: Between 6% on the smaller account and 2.8% on the bigger account.
- Profit target: Starts at 7% on the smaller account and goes down to 6% on the bigger account.
This challenge also has 1 single phase. As soon as you reach the goals without breaking any rule, you’ll get funded with an Elite account to trade real funds.
Challenge – Fast Track Evaluation
This challenge lets you apply for accounts between $25,000 and $250,000.
It was created for traders that believe that can hit the profit target quickly. On this challenge, you have a maximum number of days to achieve the profit target.
Here are the rules:
- Minimum days to trade: 5 days.
- Maximum trading days: You have 14 calendar days to hit your profit target.
- Max trailing drawdown: Ranges from 3% on the smaller account and down to 2.6% on the bigger account.
- Profit target: Starts at 8% on the smaller account and goes down to 6% on the bigger account.
Challenge – Static Drawdown Evaluation
This challenge lets you apply for accounts between $100,000 and $150,000.
This account doesn’t have any trailing drawdown or maximum loss. Instead, it has a maximum drawdown, which is defined as a minimum account balance that cannot be reached.
Here are the rules:
- Minimum days to trade: 5 days.
- Maximum trading days: There’s no maximum number of days, you can take the time that you need.
- Max drawdown: Ranges from 0.6% to 0.8% of the initial balance.
- Profit target: Ranges between 1.3% on the smaller account and goes up to 2.6% on the bigger account.
Challenge – Diamond Hands
This challenge lets you apply for a $100,000 account only.
This account was created for swing traders, or traders that want to have the possibility to hold their trades for longer periods than simply day trading.
Here are the rules:
- Minimum days to trade: 5 days.
- Maximum trading days: There’s no maximum number of days, you can take the time that you need.
- Daily Loss Limit: You cannot lose more than 1.5% on any given day.
- End of the day trailing drawdown: 3.5%.
- Profit target: 5%.
Elite Trader Funding Free Trial
Good news, you can get a 14-day trial to test before you purchase. It’s not as good as a discount or promo code, but it’s worth it.
Use the button below to claim it.
Elite Trader Funding Free Repeat
The Fast Track Evaluation offers a free repeat. It works like this, if you didn’t achieve the profit target within 14 days, your account can be turned into a 1 Step Evaluation account of the same size.
Elite Trader Funding Platforms
All accounts come with free real-time data and a free NinjaTrader license key.
Besides that, Elite Trader Funding supports the most popular futures trading platforms.
You can use:
- NinjaTrader
- Tradovate
- Rithmic
- TradingView
Elite Trader Funding Trading Hours
All trades must be closed 1 minute before the close of the market. Please be aware that not all instruments have the same closing time. On some particular days, like holidays, the closing time may also differ from regular days.
However, if you are trading the Diamond Hands account, you can hold your trades overnight. There are no restrictions on this type of account. You can keep your trades open for as long as you need, according to your own trading style.
Elite Trader Funding News Trading
If you like to trade news, then this is a good prop firm for you.
There are no restrictions on news trading. You just need to be careful and have good risk management. Learn how to calculate your maximum lot size wisely.
Is Elite Trader Funding Legit?
Yes, Elite Trader Funding is a legit company.
Contacts should be made through their website contact form.
Recap
- Elite Trader Funding is a prop trading firm based in the US.
- You can get a funded account with up to $300,000 in balance and an 80% profit split payout after you get your first $12,500 profits just for you.
- To get access to a funded account you need to pass one of five different challenges, depending on the account type that you want to apply to.
- You can trade Futures
- The popular Ninjatrader, Rithmic, Tradovate, and TradingView platforms are available to trade.
Learn More
- What is prop trading
- List of the best prop trading firms
