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Traders With Edge - Trader Funding

  • #1
  • First Post: Sep 27, 2022 1:43am Sep 27, 2022 1:43am
Starting this thread to keep people up to date with news from Traders With Edge - Funding For Traders.

Recently we rolled out the ability for trader to customize their challenges and instant funding accounts. This provides the trader with more flexibility to change the objectives to suit their trading style and hopefully increase the chance of getting a funded account and keeping it.


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In a week we are about to roll out our "Write to Trade" program. We decided to build this because there are many people in developing countries who can't afford to take a challenge or purchase and instant funding account. We believe there are good traders in these Countries and we want to give them the opportunity to earn an account by writing content for us. We will be paying them $10 per article in credit that can be applied against any challenge or instant funding account that they can trade and earn from.

We are hoping both of these initiatives are game changers for the prop firm industry as a whole and will benefit more traders.
  • #2
  • Sep 29, 2022 5:20pm Sep 29, 2022 5:20pm
Quoting TradersWithE
We will be paying them $10 per article in credit that can be applied against any challenge or instant funding account that they can trade and earn from.
-Good idea.

Quoting TradersWithE
Hi All, Traders With Edge launched customizable prop challenges, so you can change most objectives on the challenge. Be good to hear you feedback on the idea and the individual customizations available?
-I like the idea of being able to customize the offerings. I also really like the options that you are providing for that (although, I suspect that some of the options may not be viable over the long-term for you -- I hope that you can manage). I have a few questions:

1. Can you please clarify whether or not the customizable options apply to the challenges-only, the funded account-only or do these options apply to both?

2. If the 'remove stop-loss' option is selected, is the maximum risk rule also removed?
----2a. If the maximum risk rule is not removed, how will the maximum position size be calculated?
----2b. If the maximum position size is based on percent of account balance or draw-down etc., then would this render the 'double leverage' option useless?

3. When will larger account sizes be available for the Hare model?

FYI - your FAQ states that MT4 will be used, however, your offerings indicate that MT5 may be selected.

As far as negative feedback goes, I really feel concerned regarding the 30-second rule that you have stated under tick scalping. As a manual trader/scalper, there are times when positions are closed in under 30 seconds. It does not happen often, but it does happen. Since I scale into my positions, this would mean that there could be several positions that open and then close under that 30-second threshold. I would be concerned that this would give you justifiable reasoning for account closure even though my trading is legitimate. Can you offer any statement regarding this? Thanks.
  • #3
  • Oct 3, 2022 10:03pm Oct 3, 2022 10:03pm
Quoting Nsak3y
{quote}-Good idea. {quote}-I like the idea of being able to customize the offerings. I also really like the options that you are providing for that (although, I suspect that some of the options may not be viable over the long-term for you -- I hope that you can manage).
Yes we hope so as well. We put a lot of time into the modeling of doing this, assessing our risks vs benefits to the traders.

Quoting Nsak3y
I have a few questions: 1. Can you please clarify whether or not the customizable options apply to the challenges-only, the funded account-only or do these options apply to both?
The customizations are for both the challenge and funded accounts.


Quoting Nsak3y
2. If the 'remove stop-loss' option is selected, is the maximum risk rule also removed? ----2a. If the maximum risk rule is not removed, how will the maximum position size be calculated? ----2b. If the maximum position size is based on percent of account balance or draw-down etc., then would this render the 'double leverage' option useless?
2. yes maximum risk rule is also removed with this.
2b. The risk per trade and leverage are different because if you have a 1 lot trade and 500 pip SL depending on your account size, that might be the maximum risk per trade, but you have the available leverage to to place another 2 lots for example. So you would be restricted by the max position size in this case and still have more leverage available.

If you had the same trade with 1 lot and 100 pip SL on the same account size, your risk per trade is much lower, so you want to place a trade of 5 lots instead, but you only have leverage to buy 3 lots. In this case you would be limited by the amount of leverage available, so adding the "double leverage option" would allow you to place a 5 lot trade in this case.


Quoting Nsak3y
3. When will larger account sizes be available for the Hare model?
It's on our list to roll out in the next 2 months. We have had so many other initiatives we are rolling out that it got pushed back.

Quoting Nsak3y
FYI - your FAQ states that MT4 will be used, however, your offerings indicate that MT5 may be selected. As far as negative feedback goes, I really feel concerned regarding the 30-second rule that you have stated under tick scalping. As a manual trader/scalper, there are times when positions are closed in under 30 seconds. It does not happen often, but it does happen. Since I scale into my positions, this would mean that there could be several positions that open and then close under that 30-second threshold. I would be concerned that this would...
Thanks for the feedback, much appreciated. If it is one trade every now and then it's acceptable. We must have this rule in place because there is a slight lag between copy from the traders account to our master account. Some people also try to abuse demo accounts with pricing lag to profit from this. If we can't make money from the trader, but they expect to get paid out it's not a sustainable relationship. If you are a manual trader and it happens once every now and then it's completely fine.

Thanks again for taking the time to leave your feedback!
  • #4
  • Edited Oct 4, 2022 12:11am Oct 3, 2022 11:47pm | Edited Oct 4, 2022 12:11am
Thank you for taking the time to reply to all of my comments. It is very much appreciated.

Quoting TradersWithE
The customizations are for both the challenge and funded accounts.
-Very nice! This will be very helpful. Thank you for clarifying that.

Quoting TradersWithE
2. yes maximum risk rule is also removed with this.
-Very nice! One less thing to have to worry about. Using a stop-loss goes without saying, but having to accurately calculate risk levels that are constantly adjusting would only cause distractions for me.

Quoting TradersWithE
It's on our list to roll out in the next 2 months. We have had so many other initiatives we are rolling out that it got pushed back.
-Understood. Thanks.

Quoting TradersWithE
We must have this rule in place because there is a slight lag between copy from the traders account to our master account.
-I suspected as much, although 30 seconds does seem a bit extreme. I wonder if there could be an automatic, simulated delay put into place so that traders would not have to worry about violations? Or, perhaps, setting up your own server as many other props have done? Personally, I can make adjustments to work around it, but would rather not have to do that, you know.

Could you be so kind and maybe clarify something here?:

If a trader elects to purchase Change Trailing Max Loss to Static and Remove Daily Loss Limit:

Then this means that if a trader has a $10K account with $500 allowable max loss, then as long as the account balance does not drop below $9,501, then they are fine, even if they build the account up to $15K and then lose $5K the next day, dropping them back down to $10K. Is this is correct?

Also, for Hare accounts, are the added costs for customizable options also included in the refund?

And finally, does GO Markets offer a netting type account?

Thank you, again, for taking the time to reply here. I really appreciate it.
  • #5
  • Oct 5, 2022 10:23pm Oct 5, 2022 10:23pm
Sorry for the slow reply, for some reason we are not receiving notifications of reply.

Quote
I wonder if there could be an automatic, simulated delay put into place so that traders would not have to worry about violations? Or, perhaps, setting up your own server as many other props have done? Personally, I can make adjustments to work around it, but would rather not have to do that, you know.

This rule is not an automatic one, it's one that we monitor manually, so if a trader gets in an out of a trade in less than 30 seconds every now and then they will not lose their account. It's only if they are trying to use software to manipulate the results.

Quote
Could you be so kind and maybe clarify something here?:

If a trader elects to purchase Change Trailing Max Loss to Static and Remove Daily Loss Limit:

Then this means that if a trader has a $10K account with $500 allowable max loss, then as long as the account balance does not drop below $9,501, then they are fine, even if they build the account up to $15K and then lose $5K the next day, dropping them back down to $10K. Is this is correct?

Yes this is correct.

Quote
Also, for Hare accounts, are the added costs for customizable options also included in the refund?
Great question, yes if one purchases customizations the full price of the challenge and the customisations will be refunded upon passing and the first payout.

Quote
And finally, does GO Markets offer a netting type account?
They do, but we only use hedging accounts in our setup with them.

Pleasure, anytime!
  • #6
  • Oct 5, 2022 11:29pm Oct 5, 2022 11:29pm
Quoting TradersWithE
Sorry for the slow reply, for some reason we are not receiving notifications of reply.
-No worries. I appreciate you taking the time.

Quoting TradersWithE
This rule is not an automatic one, it's one that we monitor manually, so if a trader gets in an out of a trade in less than 30 seconds every now and then they will not lose their account. It's only if they are trying to use software to manipulate the results.
-That's good to know. Thank you for the clarification on this.


Quoting TradersWithE
Yes this is correct.
-Wow. That's huge. I wonder if you would allow traders to keep a portion of their profits in the account when withdrawing to allow for additional padding then? So, for example, a 10K account with $750 draw-down allowance grows the account to 15K, but only elects to withdraw $2.5K, giving them an additional 2.5K of draw-down allowance/protection? Is this something that you would allow?

Quoting TradersWithE
yes if one purchases customizations the full price of the challenge and the customisations will be refunded upon passing and the first payout.
-That's really great.

Quoting TradersWithE
They do, but we only use hedging accounts in our setup with them.
-Understood. No worries. I was mostly asking this in relation to the 30-second rule. As a trader that scales into positions, I am at greater risk of having individual positions lasting fewer than than 30-seconds. This could be further mitigated with a netting-based account. But, as you said, so long as I am not trying to cheat, I should be fine. I can also adjust my approach a bit.

I really appreciate you taking the time to respond to my inquiries here. I am definitely looking at your offerings with greater interest now.

Thanks.
  • #7
  • Oct 6, 2022 3:14am Oct 6, 2022 3:14am
Quote
-Wow. That's huge. I wonder if you would allow traders to keep a portion of their profits in the account when withdrawing to allow for additional padding then? So, for example, a 10K account with $750 draw-down allowance grows the account to 15K, but only elects to withdraw $2.5K, giving them an additional 2.5K of draw-down allowance/protection? Is this something that you would allow?

Yes we do allow this. It would fit under our rapid scaling plan if one had elected to do that https://traderswithedge.com/scaling-plans/ (hope we are allowed to post links here?)

Quote
-Understood. No worries. I was mostly asking this in relation to the 30-second rule. As a trader that scales into positions, I am at greater risk of having individual positions lasting fewer than than 30-seconds. This could be further mitigated with a netting-based account. But, as you said, so long as I am not trying to cheat, I should be fine. I can also adjust my approach a bit.
If it's scaling in we will see that and not penalize. For example if it was a breakout strategy and took buy stops as the price moved up then exited all. A new event could trigger all buy stops and then exit, we are fine with this. or the reverse where gridding in then price bounces and goes back in the desired direction would be fine.

Quote
I really appreciate you taking the time to respond to my inquiries here. I am definitely looking at your offerings with greater interest now.
My pleasure, unlike many firms we are actually looking for good traders long term and the relationship is a big part of that.
  • #8
  • Oct 6, 2022 4:37am Oct 6, 2022 4:37am
Thanks, again, for responding. I really appreciate it.

I am seeing all good things here.

Cheers.
  • #9
  • Oct 6, 2022 4:40am Oct 6, 2022 4:40am
Quoting TradersWithE
My pleasure, unlike many firms we are actually looking for good traders long term and the relationship is a big part of that.
Would you guys be willing to offer traders with existing track records instead of making them sit through your evaluation again?
  • #10
  • Oct 6, 2022 5:16am Oct 6, 2022 5:16am
If you have something that is over 12 months are open to looking at it. We will also be launching some longer term trading competitions that don't require payment.
Please send and email to support https://traderswithedge.com/contact-us/ with a Myfxbook, FXblue or similar and we can start a discussion.
  • #11
  • Oct 6, 2022 1:13pm Oct 6, 2022 1:13pm
This looks interesting. I have had experience with some popular prop firms like FTMO, never bump into this customization stuff. I think it's a great deal. How much does it usually cost to add customizations in your account though?
  • #12
  • Oct 6, 2022 9:31pm Oct 6, 2022 9:31pm
Quoting AzielHazir
This looks interesting. I have had experience with some popular prop firms like FTMO, never bump into this customization stuff. I think it's a great deal. How much does it usually cost to add customizations in your account though?
It depends on the account size and the challenge type. The pricing is based as a percentage of the account and the related risk to us as a company. If you are on the website just choose the challenge type and go through the process and you will see the customizations available and the pricing.
  • #13
  • Edited Oct 10, 2022 2:37am Oct 9, 2022 9:20pm | Edited Oct 10, 2022 2:37am
We realize that in some countries it’s hard to save up enough money to get a funded trading account.

This is not fair and we want to even the playing field, so we have developed our Ambassadors program.

We will pay traders for quality content they create that links back to Traders With Edge.

We do this by adding points to your account for every article or video posted. You can use these points to get a challenge or instant funding account. You can trade that account and earn from day 1.

There are guidelines to keep the quality high. So apply on our website to find out more if this is something you are interested in.

The Ambassadors program is now live and the first Ambassadors have been given access to training on how they can earn a free funded prop firm account by completing simple tasks. https://traderswithedge.com/ambassadors/
  • #14
  • Oct 9, 2022 10:02pm Oct 9, 2022 10:02pm
Quoting TradersWithE
If you have something that is over 12 months are open to looking at it. We will also be launching some longer term trading competitions that don't require payment. Please send and email to support https://traderswithedge.com/contact-us/ with a Myfxbook, FXblue or similar and we can start a discussion.
Evaluation periods last 2 months. Why would you "need something that is over 12 months", since the values/criteria you're looking for should be the same as in evaluation and in evaluation, you're willing to make the judgment of "good trader" in 2 months.

Suppose someone were to trade within your rules and hit your targets in their own accounts for 2 months, on what basis would you be rejecting them?

I know no other prop firms offer that, so kudos to you guys if you guys truly offer that, but I'm just curious to know more. Thank you.
  • #15
  • Oct 10, 2022 2:32am Oct 10, 2022 2:32am
Quoting tenkanzen
Suppose someone were to trade within your rules and hit your targets in their own accounts for 2 months, on what basis would you be rejecting them?
-You could ask this same question to all other prop firms. Why do they charge anything at all? As a trader, I accept that I will pay a fee to accelerate the process and start earning faster.

If we assume that a firm does not push trades to live market, then we must accept that fees are an integral component for the functioning and survivability of said firm.

If we assume that a firm is actually pushing trades to live market, either selectively or en masse, then even if the fees are not an integral component for the functionality of said firm, they are, in fact, important for long-term survivability, as any revenue source will only help to ensure that.

If you trade for a traditional prop firm, you may be required to not only have a strong history of trading under your belt, but possibly a trading license, as well as a requirement to actually travel to/from the office each day. You may even be required to trade a certain way, according to their standards, using their strategies. So, not only might you need to be local to that firm, but you might need to have a great deal of experience already, jump through many hoops and go through the entire process of qualifying, all of which can take a lot of time and money.

Most non-traditional, remote firms have unreasonable requirements for their challenges. This is understood and accepted. Why? Because it is a fair trade-off, simply put. Because we would rather be able to prove ourselves much more quickly, than to have to trade on a demo account for a year or longer in order to get funding (along with satisfying other, time-consuming and/or costly requirements). It is an accelerated funding option, and we would likely be hard-pressed to find anything that is comparable. The opportunities that we have with these remote firms are huge. Anyone, even without trading experience or licensing, can trade with these firms. So it makes sense that these firms would be taking on a lot of risk to just give capital over to anyone. Charging a fee helps to mitigate and offset that risk.

The fee is not only reasonable, but it is actually better for you and for the firm, because it ensures long-term survivability (and in some cases, the ability to actually pay out your profits to you). It also lets the firm know that you are serious by forcing you to have some skin in the game. The fact is, people trade differently when real money is on the line. They need to know that you can handle it. Additionally, trading history can be faked, depending on how it is presented. Even if you had an online database that was controlled by a 3rd-party, those credentials can be shared/sold/stolen/reused etc.. Not to mention the fact that without incorporating other scoring measures and trading data, it may not be easy to determine the amount of draw-down that you actually incurred during your trading.

The fact that Traders With Edge is offering alternative (and free) ways to procure challenges is a great thing, and something that most firms do not offer. That should speak volumes to their intentions and credibility (in my opinion). Personally, I am not trading with TWE yet. I have no affiliation with them and I am not associated with them in any way. For all I know, they could be scammers. I just think that, as traders, there are so many other things to question and be critical about, especially when there are other firms that clearly do not have the best interests of traders in mind. For whatever that's worth.
  • #16
  • Oct 10, 2022 2:34am Oct 10, 2022 2:34am
Quoting Nsak3y
{quote}-You could ask this same question to all other prop firms. Why do they charge anything at all? As a trader, I accept that I will pay a fee to accelerate the process and start earning faster. If we assume that a firm does not push trades to live market, then we must accept that fees are an integral component for the functioning and survivability of said firm. If we assume that a firm is actually pushing trades to live market, either selectively or en masse, then even if the fees are not an integral component for the functionality of said firm,...
As such, I find it interesting and am asking more. Read my last line, I already stated that if this is true of them, they are already doing more.
  • #17
  • Oct 10, 2022 2:49am Oct 10, 2022 2:49am
Quoting tenkanzen
As such, I find it interesting and am asking more. Read my last line, I already stated that if this is true of them, they are already doing more.
-Yes. I read what you wrote and I understand. It just seems a bit nonsensical to ask about such things. Did you ever hear the phrase "beggars can't be choosers"? Such as, if a friend offers you a free meal, you are not picky, are you? No. You accept whatever is offered because it is free.

That being said, I can understand being curious about things. Hopefully my post helps to clarify some of that. But in truth, I cannot speak for any firm. I can only speculate based on my own, limited understanding of the matter. For me, there are more important things to be curious about. In actuality, just by realizing the opportunity, everything is simplified for me, personally.

As many would say, it is a no-brainer.
  • #18
  • Oct 11, 2022 11:44am Oct 11, 2022 11:44am
Hello, again.

Can you please clarify if the lot size manipulation rule applies to funded accounts, or only to challenge phases?

Thanks.
  • #19
  • Oct 12, 2022 2:10pm Oct 12, 2022 2:10pm
Quoting TradersWithE
{quote} It depends on the account size and the challenge type. The pricing is based as a percentage of the account and the related risk to us as a company. If you are on the website just choose the challenge type and go through the process and you will see the customizations available and the pricing.
Thanks for the info. Will check that out. Well another question, when you customize the account does it also reflect in your live account? like looking at one of your customize option, removing stop loss, can it be live as well if I opt to choose that custom? in that case that's cool
  • #20
  • Oct 26, 2022 8:17am Oct 26, 2022 8:17am
Quoting Nsak3y
Hello, again. Can you please clarify if the lot size manipulation rule applies to funded accounts, or only to challenge phases? Thanks.
Sorry, still don't know why we are not getting notifications for replies on here....

It applies to challenge accounts only.
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