Introduction to Take Profit Trader

Take Profit Trader (TPT) is a prop trading firm offering futures traders the opportunity to trade with funded accounts. This guide explores their account options, trading rules, and withdrawal process, and evaluates the pros and cons of trading with TPT.

Account Options

TPT offers five account sizes, ranging from $25,000 to $150,000, each with a monthly subscription fee. These accounts are tailored for traders of all levels, with parameters that scale according to account size. For example, the $50,000 account has a $3,000 profit target, a $1,100 daily loss limit, and a $2,000 trailing drawdown. Larger accounts provide higher position size limits but come with stricter risk management requirements.

Trading Rules

TPT emphasizes disciplined trading through clear rules:

• Profit Target: Traders must achieve the specified profit for their chosen account size.
• Risk Management: Strict position size, daily loss, and trailing drawdown limits are enforced.
• Consistency: A minimum of five trading days is required to show steady performance.
• Restricted Hours: Positions must be closed by 5 PM Eastern and cannot be held overnight.
• News Events: Positions must be closed before major economic announcements to avoid account penalties.

These rules ensure traders demonstrate skill, discipline, and consistency throughout the evaluation process.

Withdrawal Process

TPT’s withdrawal system is a highlight of its offering. Once a trader transitions to a PRO account, they can withdraw profits starting from day one, provided they maintain a drawdown buffer. U.S.-based traders can use Plaid for instant withdrawals, while international users can opt for Wise or PayPal, with processing times typically under 12 business hours. Withdrawals over $250 are fee-free, while smaller amounts incur a $50 fee.

Pros of Trading with Take Profit Trader

1. Fast Progression: Traders can qualify for a PRO account in as few as five trading days.
2. Immediate Withdrawals: Day-one withdrawals provide unparalleled liquidity.
3. Generous Profit Splits: Keep 80% of profits in PRO accounts and 90% in PRO+ accounts.
4. No Scaling Plans: TPT doesn’t impose restrictive scaling plans in funded accounts.
5. Multiple Accounts: Traders can operate up to five funded accounts simultaneously.
6. 24/7 Support: Round-the-clock customer support ensures prompt assistance.
7. Transparency: Simple, straightforward rules eliminate hidden surprises.

Cons of Trading with Take Profit Trader

1. Simulated PRO Accounts: Trades in PRO accounts are executed in a simulated environment, not on live markets.
2. Strict Risk Rules: Breaching any of the six core rules results in immediate account termination.
3. Limited Asset Classes: Currently, only futures trading is supported, limiting diversification.
4. Trailing Drawdown Complexity: The intraday and end-of-day drawdown rules can be challenging for less experienced traders.
5. Higher Costs for Larger Accounts: Monthly fees and reset costs increase significantly for higher-tier accounts.

Conclusion

Take Profit Trader is a transparent and efficient prop trading firm that prioritizes trader success. Its fast-track model, immediate withdrawals, and trader-friendly terms make it a compelling choice for disciplined futures traders. While some limitations, such as simulated PRO accounts and strict risk rules, may be challenging for some, those who adapt can unlock substantial trading opportunities with TPT.