latest prop firm updates for the week. There’s quite a bit to cover, including news from Profit Trade, Elite Trader Funding, and YouProfit. I’ll also touch on the ongoing discussions around Apex and FT.
Profit Trade Rule Change
Let’s kick things off with Profit Trade. They’ve made an important rule change that many of you may have already heard about. Previously, they had a requirement where 70% of your trading days needed to exceed 7% profit to meet their consistency rule. Due to feedback from their community, they’ve now reduced this to 50%, meaning you only need to achieve the target in 3.5 days out of 7. This is definitely a positive step for traders, making it easier to meet their standards. As someone with three Profit Trade accounts myself, I usually aim for a daily target of $300-$500, and this change feels like a welcome relief. Remember, slow and steady wins the race.
Elite Trader Funding: A Cautionary Tale
Next, I received a message from a trader who had his Elite Trader Funding account closed because he didn’t trade for five days while he was away. It’s a good reminder: if you’re planning to take time off, always let customer support know. Most firms are understanding as long as you’re upfront about it. A simple email could save you from unnecessary headaches.
YouProfit: My Take
I often get asked why I don’t rank YouProfit higher on my list. Honestly, my experience with them wasn’t great. I had a past issue where I accidentally opened too many contracts and had my account closed, which left a bad taste in my mouth. Unlike other prop firms, YouProfit doesn’t block you from entering more contracts than allowed, which can lead to unintentional errors. For this reason, I’ve chosen not to trade with them. However, I acknowledge that some traders are happy with their experience, and that’s great! Just be sure you’re fully aware of the rules before committing.
Apex: Trust Issues
Apex recently made some changes that have been receiving attention from affiliates and traders alike. While these new rules seem more favorable for traders, my concern with Apex remains the same: trust. They have a history of retroactive rule changes, denying payouts, and placing traders on probation, which raises red flags for me. Some traders continue to have success with Apex, but until they demonstrate a longer track record of consistent payouts and rule stability, I’m staying away. I’ve also heard stories of traders being put on probation simply for being profitable, which suggests Apex may not want traders who are too successful. For now, they remain on my personal “scam” list.
FT: Retroactive Rule Changes and Growing Frustration
Lastly, let’s dive into FT (FastTrack Trading). I’ve seen an increasing number of traders frustrated with their retroactive rule changes and payout delays. FT has been introducing new policies, including a rule requiring traders to make the same amount or more on each subsequent payout request. They’ve also added restrictions on flipping and limited accounts to 20 per household. These changes, combined with delayed payouts (some traders are waiting over 270 days), have led to widespread concern in the community.
FT has also faced criticism for allowing traders to buy multiple accounts, only to later restrict this option and blame traders for flipping or abusing the system. It seems like FT is shifting the blame for payout delays onto traders, which is never a good look. Many traders are now worried that they’ll never see the profits they’ve earned. This, combined with rumors about funds being diverted to a “sister company,” suggests that FT may be overextending itself.
What’s Next?
For those of you exploring other prop firms, there are still several solid options that pay out reliably. I’ve been having success with Pdia, TakeProfit, MyFundedFuture, and TradeDay—firms that have consistently met their payout promises. Diversifying across multiple prop firms is essential in this industry, especially with firms that may be more volatile or inconsistent in their practices.
