TradersEdgeFX Reviews

What is TradersEdgeFX?

TradersEdgeFX aims to ensure the simulated trading is easily accessible and equitable for traders of all skill levels. They believe individuals can succeed in the trading markets by utilizing appropriate tools and receiving adequate support. 

The primary emphasis lies in cultivating self-control, nurturing a robust mentality, and giving precedence to efficient risk mitigation. These principles facilitate the exceptional performance and competitive positioning of our traders within the global simulated trading community.

TradersEdgeFX places significant importance on the principles of experience, honesty, and integrity. We deem them indispensable for establishing a reliable and prosperous trading community. The composition of our team consists of experienced individuals who possess a wide range of various skills and offer distinct viewpoints. 

With a collective experience of more than ninety years, the members of our team have a substantial background in overseeing trading desks, occupying positions in commodities exchanges, and demonstrating exceptional proficiency in risk management to attain remarkable financial gains. The extensive breadth of our knowledge highlights our comprehensive comprehension of the complexities associated with developing a viable source of income through market trading.

Our expedition has facilitated the establishment of an extensive network of connections spanning several industries, hence playing a pivotal role in the identification of prospective market prospects. 

By leveraging our network and the expertise of our staff, we are uniquely positioned to provide the highest quality products, experiences, and communities in the business. TradersEdgeFX is dedicated to providing traders with the necessary resources and assistance to excel in the ever-changing realm of simulated trading.

TradersEdgeFX Funding Programs and Challenges: Rules and Requirements 

Two crucial guidelines are in place at TradersEdgeFX to guarantee honest and reliable trading. Both the Lot Size Consistency Rule and the Profit Consistency Rule apply here.

According to the Profit Consistency Rule, a single trading day cannot account for more than 50% of the total withdrawable profit. Thus, for instance, if their account makes $10,000 in profit over thirty days, then no day’s profit can exceed $5,000. A trading day has the hours of 6 p.m. to 5:59 p.m. Eastern Standard Time.

To make sure this regulation is followed, traders’ accounts are examined when they request a withdrawal. Any trading day that breaks the regulation will result in the withdrawal request being rejected. They are still able to trade and ask for a dividend in the subsequent cycle, though.

Trading consistency after a withdrawal request is guaranteed by the lot size consistency rule. Traders take the smallest lot size they have traded and multiply it by 300% to find their maximum lot size. Their account will be in violation and payment for the impacted trades will be refused if they exceed this limit.

Keep in mind that deals executed in a 30-second window are combined for a lot of consistency and profit. Additionally, there is a maximum of 300% applied to the deal Size Consistency Calculation, which varies depending on the smallest deal size transacted. For instance, the maximum lot size is three if the smallest lot size traders have traded is one. If it’s five, fifteen is the maximum.

Daily-loss Limit: At TradersEdgeFX, the daily loss limit is determined by taking the equity after the previous day and is reset every day at 6 PM EST. If their account had a $100,000 balance after the previous day, for example, traders would violate the restriction if their equity fell to $95,000 during the current day.

Instead of using a set dollar amount as the daily stop-out level, TradersEdgeFX uses a percentage-based method. As the amount of virtual money in their account increases, the daily stop loss gets wider. For example, increase the amount from $5,000 to $5,500 by starting with a $100,000 balance and working the way up to $110,000.

If traders purchase a $100,000 simulated trading account, they will violate the account restrictions if traders breach either -$12,000 or $88,000 of the account equity.

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific period.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

– Profit targets: A predetermined proportion of the account balance that traders must meet.

– Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, daily and cumulatively.

– Minimum trading days: The number of active trading days required throughout the challenge period.

– Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

TradersEdgeFX Broker: Do They Use a Reliable Platform? 

The trading platforms used by TradersEdgeFX include MetaTrader 4 and MetaTrader 5. These dependable and highly regarded platforms provide traders with an extensive feature set and an array of tools to facilitate effective and efficient trade execution. 

Trades can access real-time market data, sophisticated charting features, customized trading indicators, and automated trading operations with MetaTrader 4 and MetaTrader 5. These platforms offer a smooth trading experience across several devices, catering to both novice and experienced traders alike. 

TradersEdgeFX’s dedication to offering traders state-of-the-art technology and ideal trading circumstances is demonstrated by their adoption of MetaTrader 4 and MetaTrader 5.

TradersEdgeFX Fees: How Much Do They Charge? 

TradersEdgeFX guarantees client satisfaction with a comprehensive and well-defined return policy. If customers have not started simulated trades on the educational simulated evaluation accounts, they may be eligible for a complete refund on their order. TradersEdgeFX must be notified at [email protected] if a customer intends to begin trading within 30 days of purchase since dormant accounts (30 days or longer) are not eligible for refunds without prior notice.

Customers can email [email protected] to TradersEdgeFX’s Billing Department to receive a refund. Customers will receive an email after the eligibility requirements have been evaluated. Refunds are not available if a customer has used TradersEdgeFX services, such as trading on the platform or taking advantage of perks that are outlined in the Terms of Services.

Active educational simulated evaluation accounts that match or surpass the original balance will be reimbursed in the event of legal disputes; the disputed account will not be included. As stated in Section 17 of the Terms of Services, the client will be prohibited from using the services in the future.

Customers who submit orders while under the age of 18 will receive a timely refund. Refunds will also be given to locals in areas where TradersEdgeFX does not provide services.

TradersEdgeFX maintains its integrity by refusing to work with clients that have a criminal history or a negative public image. These people’s orders will be reimbursed as part of the business’s risk management plan.

Thus, Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees paid by traders to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided, and the challenge’s complexity.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

– Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.

– Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.

– Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

TradersEdgeFX Proof of Payment:

Flexible payment methods are available at TradersEdgeFX, including credit/debit cards and cryptocurrencies. Before completing a Bitcoin payment, be sure traders are using the right network for that particular cryptocurrency.

TradersEdgeFX and Riseworks.io have teamed up to offer users easy and convenient withdrawal options for payments and compliance. Through Riseworks.io, users may request withdrawals straight from their dashboard to their blockchain wallet or bank account. 

Make sure the email address registered on Riseworks.io is the same as the one used on TradersEdgeFX.com to prevent payout problems. There is a USD 100 minimum withdrawal amount. Please be aware that to abide by tax laws, all US traders must withdraw their money only through Riseworks.io.

TradersEdgeFX Customer Support: 

TradersEdgeFX has garnered positive reviews from traders, with exceptional customer service being cited as a primary feature. The trader complimented the quick and helpful support staff, pointing out that they are available twenty-four hours a day.

The trader also complimented TradersEdgeFX’s trading regulations on their clarity and simplicity. TradersEdgeFX is active on several social media networks, including

• 12,000 followers on Instagram
• Twitter: eighty followers
• 112 users of Telegram
• 4.2 stars out of 5 on Trustpilot
• 34 followers on Facebook

Various support alternatives are available from TradersEdgeFX for customers in need of information or help. There is a FAQ section on their website that might answer typical questions. Traders may simply get in touch with the support staff by email at [email protected] or through their social media accounts.

Traders can use the live chat support option for timely and helpful assistance, with messages being answered right away. If they are not available, traders can expect an email answer within 24 hours.

What Makes TradersEdgeFX Unique? 

One special benefit for traders at TradersEdgeFX is the ability to hold performed trades over the weekend. Their unique feature enables traders to hold onto their positions over the weekend and perhaps profit from market fluctuations that occur outside of typical trading hours.

TradersEdgeFX Reviews: What Do Their Customers Say?

TradersEdgeFX has received a rating of 4.2 stars out of 5 stars on Trustpilot, with a cumulative total of 41 customer reviews.  

#1. According to Muhammad Shoaib, he works as a trader with TEFX. He obtained his challenge account at no cost through a raffle held in December. The company promptly provides him with an account. Upon completing both phases, he promptly obtained his live account. He has just had two straight withdrawals from TradersEdgeFX. His experience with this firm is exceptional. 

The execution of trades is quite commendable. There is no server hanging, even in the case of significant news. The response from assistance was quite efficient and prompt. He advised all individuals to collaborate with TradersEdgeFX. It represents the future.

#2. According to Tim McNeely’s statement, he commenced utilizing TradersEdge throughout the current week. Being an avid enthusiast of the MT5, he was delighted to learn that it was now accessible. He needs rapid fills and minimal delay to manage scalping, and he found both to be excellent.

He maintains a cautious attitude towards prop firms in the present era following MFF, recognizing that not all firms are uniform. Nevertheless, his interactions with the support crew have been exceptional, and it appears that they have dedicated considerable effort to enhancing the customer care aspect right from the start. He suggests collaborating with them and will provide an update once he has completed the compensation process.

#3. According to Whale Killer, this is just another fraudulent company seeking positive evaluations on Trustpilot and making deceptive claims on Discord. Escape. Visit the well-established companies. The perceived cost reductions achieved in fraudulent enterprises such as this are not justified by the inconvenience.

Conclusion

A top trading platform, TradersEdgeFX is dedicated to giving traders of all skill levels access to simulated trading possibilities. It gives traders the tools they need to succeed on a global scale and is based on the concepts of discipline, resilience, and risk management. 

Experience, honesty, and a strong support network are prioritized by TradersEdgeFX, which offers a full trading environment. Its creative features also give traders special chances, like the ability to hold trades over the weekend. 

With clear pricing policies, dependable platforms, and first-rate customer service, TradersEdgeFX makes sure that traders have access to the tools and support they need to succeed in the fast-paced world of simulated trading. In conclusion, anyone wishing to improve their trading abilities should check out TradersEdgeFX.