Custom Prop Firm Challenge - Traders With Edge (2024)

FAQs

How to pass prop firm challenge fast? ›

The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

For most funded trading accounts, it takes around four to five months to pass the screening process or prop firm trading challenge, before funding will be allocated to a trader. However, some prop firm challenges can be passed in a much shorter time, in as little as two days, though this involves using increased risk.

Successfully passing a Prop Firm Challenge grants traders a key advantage: access to substantial trading capital.

Around 10% pass

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

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If so, then you may have heard about the prop firm challenge. This is a popular way for traders to prove their skills and potentially secure funding from a prop firm. However, passing this challenge can be quite daunting and requires a lot of hard work and dedication.

At Lux Trading Firm, our Elite Traders Club has the highest pass rate in the industry – so we know what we're talking about! The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.

Key Takeaways. Profitable trading is difficult and successful traders share specific rare characteristics. It is estimated that more than 80% of traders fail and quit.

To pass this trading account challenge and secure the position of a prop-funded trader, it is crucial to have an in-depth understanding of the financial markets and the potential to make profitable trades while managing risks effectively.

How to pass 5k prop firm challenge? ›

To pass the FTP $5,000 account evaluation you need to make a minimum profit of $250 within 14 days while not exceeding a 20% max loss limit if trading forex pairs or 10% loss limit if trading other markets. If successful, traders keep 85% of all subsequent profits made.

It is estimated that only 4% of Forex traders succeed with prop firm challenges, and only 1% of traders can generate profits consistently without violating any rules.

It is always best to hire a local attorney to review the specifics of your particular case to ensure that a proper review is conducted. No, it is generally not legal or ethical to get a professional forex trader to complete your prop firm challenge or actively trade your funded account.

On a funded account, losing a large amount of money does not mean much. Even if it results in losing your funded account, you can still try to pass the evaluation at the same firm again or just join another one. Ultimately, you do not risk much and do not lose much.