Elite Trader Funding

Elite Trader Funding offers a distinctive opportunity for traders to earn live funding based on their performance in simulated accounts.

Unique aspects include minimal trading rules, allowing traders to focus on their skills rather than strict guidelines, and the freedom to trade during any market conditions, including holidays and special events.

Official company name:

Elite Trader Funding LLC

Company address:

Not specified.

Year of establishment:

February 2022

Place of company registration:

United States

Company owners:

Kanwal Singh, Eric Ho, Clint Chaney

Trading platforms offered:

• NinjaTrader
• Tradovate
• TradingView
• Rithmic

Trading instruments available:

Supported markets include:

• CBOT
• COMEX
• CME Group
• NYMEX

Payment methods available:

Payment details were not specified.

Range of account sizes offered:

• 50K Evaluation: $165/month, Max positions: 8 minis/80 micros, Max Drawdown: $2,000, Profit Target: $3,000
• 100K Evaluation: $205/month, Max positions: 14 minis/140 micros, Max Drawdown: $3,000, Profit Target: $6,000
• 150K Evaluation: $295/month, Max positions: 18 minis/180 micros, Max Drawdown: $5,000, Profit Target: $9,000
• 250K Evaluation: $515/month, Max positions: 24 minis/240 micros, Max Drawdown: $6,500, Profit Target: $15,000
• 300K Evaluation: $655/month, Max positions: 30 minis/300 micros, Max Drawdown: $7,500, Profit Target: $20,000

Profit split structure:

Traders keep 100% of the first $12,500 in profits and 90% of all profits thereafter.

Profit targets for each challenge phase:

Specific profit targets were listed under account sizes offered.

Maximum daily and total loss limits:

Loss limits are specified for each account size:

• 50K Evaluation: Max Drawdown: $2,000
• 100K Evaluation: Max Drawdown: $3,000
• 150K Evaluation: Max Drawdown: $5,000
• 250K Evaluation: Max Drawdown: $6,500
• 300K Evaluation: Max Drawdown: $7,500

Minimum and maximum trading day requirements:

A minimum of 5 trading days is required for all evaluations.

Overview of challenges and general rules:

Challenges involve proving profitability without hitting the drawdown limits. Traders can trade any time and have the option to reset evaluations for a fee.

Challenge steps:

Challenges typically include the following steps:

1. Meet profit targets
2. Avoid exceeding drawdown limits
3. Trade for at least 5 days

Pricing/costs to start challenges:

• 50K Evaluation: $165/month
• 100K Evaluation: $205/month
• 150K Evaluation: $295/month
• 250K Evaluation: $515/month
• 300K Evaluation: $655/month

Fees & commissions:

• Evaluation reset fee: $75
• Monthly data and platform fee: $80 once qualified

Refundable fees details:

1 month of Elite FREE for qualifiers on 100K, 2 months free on 250K evaluations.

Free trial availability and details:

A 14-day free trial is available with a 250K Fast Track account on NinjaTrader only. Only one trial is allowed per trader.

Payout frequency:

Elite Traders are paid through Rise with flexible withdrawal options, including ACH and crypto. Payouts are processed daily at 3 pm EST, with funded accounts processing on Wednesdays.

Leverage:

Leverage details vary by evaluation and can be found in the challenge details.

Consistency rule:

Traders must achieve a minimum of $200 in realized profit and maintain the safety net for each payout request. Consistency in trading behavior is required.

Commission per lot:

Commission details can be found in the specific evaluation and challenge rules.

Customer support options and details:

Customer service hours are 8 am-4 pm CST, Monday to Friday.

Trustpilot Feedback

Positive Feedback

• Smooth and Fast Payouts: The payout process is efficient, with approvals often happening on the same day and funds arriving by the next business day.
• High-Quality Service: While not the cheapest, the quality of service and support is top-notch, making it a reliable choice for traders.
• Responsive Support: Support is consistently responsive, typically within 24 hours, and available through Discord and email.
• Customer-Oriented Policies: Willingness to honor mistakes and provide personal codes for resets, demonstrating exceptional customer service.
• Transparency Improvements: Recent updates to policies have clarified previous confusion, enhancing the transparency of their operations.

Negative Feedback

• Lack of Transparency: Claims of transparency are disputed, with frequent changes to terms and unclear policies leading to denied payouts.
• Complex Rules: Introduction of new rules like the 10-second rule and dollar cost averaging rule can lead to account cancellations for minor infractions.
• Confusing Terms: Website, contracts, FAQs, and terms are designed in a way that may mislead or confuse traders.
• Inconsistent Payouts: Reports of denied payouts despite meeting all requirements, leading to frustration and distrust among traders.
• Lack of Accountability: Accusations that ETF does not substantiate their actions and ignores customer issues in hopes of retaining fees and profits.

Frequently asked questions:

1. Free trial: A 14-day free trial is available.
2. Drawdown: Resets can be purchased for $75.
3. Minimum trading days: 5 days or more for all evaluations.
4. Payout method: Through Rise, with flexible options including ACH and crypto.