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Elite Trader Funding Review

elite trader funding review

Last Updated: November 24, 2022

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Disclaimer: This article is written for informational or entertainment purposes only. It is based on our opinion formed through our own experience, research, and testing of our team. While we might get compensated from link clicks on this page, the compensation does not affect how we rate them. The authors of LegitVerified are not certified, financial professionals. You should consult a financial professional before making financial decisions.

Current Best Discount Code: ELITEDEAL can get you up to 65% off when signing up.

Is Elite Trader legit?

First of all, Elite Trader Funding is not a scam. However, it shares a very similar name to a company known to have scammed its traders, so if you do end up going to their site, please make sure that you are going to the right prop firm. There are plenty of scams, but Elite Trader is not one of them.

I have read most of the reviews online on the legit Elite Trader Funding prop firm, and they seem to have a very good reputation. Trustpilot reviews rate them 4.6/5.0, people on Reddit are raving about them, and Twitter folks are tweeting happy things. While they are a young company, they seem to be doing things ethically and have too good of offerings to pass on.

The company offers rules that are simple, easy to follow, and not too restraining. Some other companies I have reviewed often provide ridiculous discount codes knowing that 99% of traders will fail purely on their rules. Elite Trader Funding is not one of them.

Elite Trader Discount Code: ELITEDEAL

elite trader funding promo code elitedeal

 

 

What Is Elite Trader Funding?

The Elite Vision

Elite Trader Funding aims to become the one-stop shop for traders seeking funding. They aim to work with successful traders and recognize that finding Elite traders takes time and effort. Elite understands that mistakes can happen and doesn’t charge you extra for our services. This prop firm seems to have the best interest of their traders.

Three professionals founded Elite Trader Funding to support retail traders and reward their disciplined success. Because the founders of the company all started from humble beginnings, they know what it is like to start from scratch. It’s devastating to learn a margin call while using your money. To become an elite trader, you must learn how to trade and demonstrate your ability.

ETFs may seem new to traders, but they aren’t new to trading.

Elite Trader Funding credentials and experience include:

  • CFA Charterholder
  • MBA, BA in Economics
  • 15+ years of experience in Banking, the Energy Industry, and Commodities Trade Shop
  • Trade experience of 40+ years
  • 20+ years of web development and networking engineering

Elite Traders Keep 100% of Their First $12,500 Profits

Elite Trader Funding’s (ETF) goal is to establish long-term relationships with traders. Your first payout will be made if you have traded for at least 20 trading days. Additionally, your trailing drawdown must reach your starting balance of +100. You must have traded at least 15 trading days in the 15 days following your first payout to be eligible for the second payout. Finally, you must have traded at least ten trading days since your last payout to qualify for the third payout.

Each trader may request one payout per calendar year. The payout must be requested between the 15th to 20th of each lunar month. All traders who request one are paid on the 1st day of each month. Your account will be closed if your payout amount exceeds the minimum balance.

More Information on Payouts
  • No matter how long you have been trading, you can withdraw your entire withdrawal amount in one request. The payout schedule is in effect from the moment you make your first withdrawal.
  • Additional explanation: If you trade on January 1, 2021, and have a 50K account but do not request your first payout before December 20, 2021, you will be restricted to the first payout limits. Then, you would need to continue following the payout limits until your 5th+ payout.
  • Traders are not permitted to make any more trades after requesting a payout.
  • Traders who do not meet the minimum number of active trading days per month will be paid the following month.
  • Elite Trader Funding covers all fees for payouts.
  • Elite Trader Funding reserves all rights to pay funds to the trader under certain circumstances.
  • Traders will get 100% of the first $12,500 they earn and then 80% for any amount.
Tax Information
  • Independent contractors are paid to be elite (highly qualified, paid performance) traders.
  • US citizens must complete a W-9 form. A current mailing address must also be kept to receive an annual 1099-NEC form based on the total amount of payouts received.
  • On the first payout request, non-US citizens must complete a W-8BEN Form.
  • For any additional questions, please consult a qualified tax accountant.

Elite Trader Funding Pricing

1-Step Evaluations

This evaluation is for traders who trade quickly and frequently.

  • Intraday unrealized profit trailing drawdown.
  • Minimum 5 trading days.
  • No scaling rule.
  • Resets permitted: $75.00
  • Get a free NinjaTrader license key with Elite and eval
  • Real-time data is available for free
  • $80.00 per month once qualified.
  • Eval 10K

  • Price: $80.00
  • Auto-renewals every 30 days
  • Maximum positions: 1 mini, ten mics, or one small
  • Max Drawdown: $1,000.00
  • Profit Target: $1.250.00

25K Eval

  • Price: $145.00
  • Auto-renewals every 30 days
  • Maximum positions: 3 3 Minis, 30 Micros, or 3 Small
  • Max Drawdown: $1,500.00
  • Profit Target: $1.500.00
  • 50K Eval

  • Price: $165.00
  • Auto-renewals every 30 days
  • Max positions: 8 minis, eight micros, or eight small
  • Max Drawdown: $2,000.00
  • Profit Target: $3,000.00

75K Eval

  • Price: $185.00
  • Auto-renewals every 30 days
  • Maximum positions: 10 Minis, 100 Micros, or 10 Small
  • Max Drawdown: $2,500.00
  • Profit Target: $4.500.00

100K Eval

  • Price: $205.00
  • Auto-renewals every 30 days
  • Maximum positions: 14 minis, 140 micros, or 14 small
  • Max Drawdown: $3,000.00
  • Profit Target: $6,000.00
  • 150K Eval

  • $295.00
  • Auto-renewals every 30 days
  • Maximum positions: 18 minis, 180 micros, or 18 small
  • Max Drawdown: $5,000.00
  • Profit Target: $9,000.00

250K Eval

  • Price: $515.00
  • Auto-renewals every 30 days
  • Maximum positions: 24 Minis, 24 Micros, or 24 Small
  • Max Drawdown: $6,500.00
  • Profit Target: $15,000.00

300K Eval

  • Price: $655.00
  • Auto-renewals every 30 days
  • Maximum positions: 30 Minis, 300 Micros, or 30 Small
  • Max Drawdown: $7,500.00
  • Profit Target: $20,000.00

End-of-Day Drawdown Evaluations

These evaluations include an end-of-day trailing drawdown and a daily loss limit.

  • End of Day trailing drawdown Limit daily loss.
  • Funded accounts can also be subject to end-of-day drawdown.
  • Minimum 5 trading days.
  • No scaling rule.
  • Resets are allowed. $75
  • Get a free NinjaTrader license key with Elite and eval
  • Real-time data is available for free
  • $80/month once qualified

25K Eval

  • Price: $150.00
  • Auto-renewals every 30 days
  • Maximum positions: 3 small, three minis, or 30 micros
  • Max Drawdown: $1,500.00
  • Daily Loss Limit: $550.00
  • Profit Target: $1.750.00

50K Eval

  • Price: $170.00
  • Auto-renewals every 30 days
  • Max positions: 8 minis, eight micros, or eight small
  • Max Drawdown: $2,000.00
  • Daily Loss Limit: $1.100.00
  • Profit Target: $3,000.00

75K Eval

  • Price: $240.00
  • Auto-renewals every 30 days
  • Maximum positions: 10 Minis, 100 Micros, or 10 Small
  • Max Drawdown: $2,750.00
  • Daily Loss Limit: $1.750.00
  • Profit Target: $4.300.00

100K Eval

  • Price: $305.00
  • Auto-renewals every 30 days
  • Maximum positions: 14 minis, 140 micros, or 14 small
  • Max Drawdown: $3,500.00
  • Daily Loss Limit: $2,000.00
  • Profit Target: $6,000.00

150K Eval

  • Price: $340.00
  • Auto-renewals every 30 days
  • Maximum positions: 18 18 micros, 180 micros, or 18 small
  • Max Drawdown: $4,500.00
  • Daily Loss Limit: $3.300.00
  • Profit Target: $9,000.00

Fast-track Evaluations

Are you confident in your abilities and believe you can quickly reach your profit target? Then, you can get ahead of the curve by paying less.

  • Intraday unrealized profit trailing drawdown.
  • Minimum 5 trading days.
  • Maximum 14 days.
  • No scaling rule.
  • There are no resets.
  • Get a free NinjaTrader license key with Elite and eval
  • Real-time data is available for free
  • $80/month once qualified. One month free on 100K!
  • 2 Months Free on 250K

25K Mini Track

  • Price: $45.00
  • There is no monthly renewal.
  • Maximum positions: 2 minis, two smalls, or 20 micros
  • Max Drawdown: $750.00
  • Profit Target: $2,000.00
  • 1 Month of Elite Free for qualified users
  • ($80 value – It’s more than just a refund).

100K Eval

  • Price: $50.00
  • There is no monthly renewal.
  • Maximum positions: 14 minis, 140 micros, or 14 small
  • Max Drawdown: $3,000.00
  • Profit Target: $6,000.00
  • Two months Elite Free for qualified users
  • ($160 value – It’s more than just a refund).

250K Eval

  • Price: $150.00
  • There is no monthly renewal.
  • Maximum positions: 24 Minis, 24 Micros, or 24 Small
  • Max Drawdown: $6,500.00
  • Profit Target: $15,000.00

Static Drawdown Evaluations

These evaluations are characterized by a maximum loss and no trailing drawdown. The minimum balance allowed does not move from its beginning point.

  • NO trailing drawdown. Static minimum balance
  • Minimum 5 trading days.
  • No scaling rule.
  • Resets are allowed. $75
  • Get a free NinjaTrader license key with Elite and eval
  • Real-time data is available for free
  • $80/month once qualified.

100K Static Eval

  • Price: $135.00
  • Auto-renewals every 30 days
  • Maximum positions: 2 minis, two smalls, or 20 micros
  • Max Drawdown: $625.00
  • Profit Target: $2,000.00

Elite Trader Funding Review – Final Verdict

Elite Trader Funding is a solid prop firm. It is young. However, it seems to continue on the right track of maintaining a solid reputation. I have not found much dirt on the company and know people using it successfully. The company does pay its traders without making them jump through hoops. Rules are simple, there is no hidden BS you have to watch out for, and it is reasonably priced.

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