ActualTraders

Discussion in 'Prop Firms' started by VPhantom, Jun 14, 2017.

  1. VPhantom

    VPhantom

    Hi all!

    I just received a mass e-mail from Elite about ActualTraders, but I didn't see a thread about them yet, nor a sponsor link at the bottom. I assume they are a brand new sponsor here.

    As for what they offer, they seem to be more or less the Forex equivalent of TopstepTrader:
    • TST offers 100% of the initial $5K, 80% thereafter, whereas ActualTraders (AT) offers 50% initially, ramping up to 80% after $20K.
    • AT has two "combine" levels called "TraderTryOut" plans: €185/month for 500K in size and €350/month for 1M in size. €100 for resets. Both have profit targets and maximum losses and require a minimum of 10 trading days of activity.
    • One interesting TraderTryOut rule not seen at TST: "A single day’s profit must not account for more than 80% of your 10 days’ profit."
    • In addition to the TraderTryOut, they also offer "Express" plans: €185/month for 25K in size and €300/month for 50K in size. Both offer 70% profits to the trader, tight loss limits.
    I'm not too sure why anyone would go for their Express offering, which within 2 months becomes more expensive than opening a tiny OANDA account, for example.

    As for who ActualTraders is; according to their web site all we know is:
    Not sure what they did between 2012 and 2017.
     
    vanzandt likes this.
  2. Overnight

    Overnight

    Yeah, I got the same e-mail.

    FAQ# 36..."We want to keep the trading environment straightforward, simple and liquid for you."

    FAQ# 2...

    "AUD/USD
    EUR/AUD
    EUR/CAD
    EUR/CHF
    EUR/GBP
    EUR/JPY
    EUR/USD
    GBP/AUD
    GBP/JPY
    GBP/USD
    NZD/USD
    USD/CAD
    USD/CHF
    USD/JPY
    XAU/USD
    XTI/USD"

    I don't know forex pairs... are all of these really liquid on the FX side? On the futures side they are not that great, aside from 6E and maybe 6J.
     
    VPhantom likes this.
  3. hhiusa

    hhiusa

    That seems pretty liquid to me.
    [​IMG]

    GBP/USD
    [​IMG]
     
    VPhantom likes this.
  4. Overnight

    Overnight

    Well then, I guess so!
     
    VPhantom and vanzandt like this.
  5. algofy

    algofy

    Ugh, enough of these companies.
     
  6. tradethetrade

    tradethetrade Vendor

    Why? You don't like their model?
     
    VPhantom likes this.
  7. traderjo

    traderjo

    Business model questionable if not illegal...
     
    tradethetrade likes this.
  8. VPhantom

    VPhantom

    I wouldn't go that far. They certainly charge a lot for sim trading under the promise of funding, under rules which rookies probably underestimate, but their rules are clear upfront and anyone with a calculator can figure out if it's worth it for them.

    Some of them like Apiary are mostly in it to sell training material, but again going through their site and FAQs reveals that, so they're not too difficult to avoid. (Though I admit I had to dig deeper than I would've liked at Apiary to discover the large fees.)
     
    vanzandt likes this.
  9. traderjo

    traderjo

    I guess what I am saying is it is more of a Pretend Prop than true blue prop and the somewhat "questionable part" is people get lured by "Get funded" carrot and also even if you are getting funded it is notional funding using internal leverage of the product which actually provided by the exchange/ broker not by the so called props so in reality many would spend hundreds going through he test and those fees are basically used as margin money.. how ethical is that? also why are they not regulated by SEC? like Bright or T3?
     
    aquarian1 and VPhantom like this.
  10. VPhantom

    VPhantom

    It would be interesting indeed if one of these shops upped their game to sponsor "funded traders" into getting their license to become actual proprietary traders. Might be a nice competitive advantage, too.
     
    #10     Jul 1, 2017