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Overview of For Traders
For Traders is a Dubai-based proprietary trading firm founded in 2023, catering to traders looking for innovative and flexible evaluation models. Known for their 'Trader First' approach, the firm offers various challenge options that accommodate diverse trading styles, including the 'Crypto Instant Master,' 1-Step, and 2-Step challenges.
Evaluation Structure
For Traders provides a comprehensive suite of evaluation models, including:
- 1-Step Challenge
- 2-Step Challenge
- 3-Step Challenge
These structures enable traders to demonstrate their skills with varying levels of complexity, allowing for rapid progression through the evaluations. As a notable feature, the firm offers no time limits, giving traders ample opportunity to meet their targets without the stress of looming deadlines.
Key Rules
Traders should be aware of the following key trading rules:
- Drawdown Rules: Each challenge has specific drawdown limits to ensure sound risk management. For example, during the One-Step Challenge, the daily drawdown is set to 3% with a maximum drawdown of 6%, while the Two-Step Challenge permits a daily drawdown of 4% and a maximum of 8%.
- Consistency Rules: Currently, there are no specific minimum trading days or consistency rules stated.
- Restricted Strategies: For Traders prohibits certain trading styles including arbitrage trading, Martingale strategies, cross-account hedging, gambling-style trading, and the use of fully automated trading bots.
Platforms & Instruments Supported
For Traders supports several trading platforms:
- cTrader
- MetaTrader
- TradeLocker
Traders can access a variety of instruments, including:
- Forex
- Metals
- Indices
- Energies
Pricing & Account Sizes
For Traders offers several account sizes with corresponding pricing:
| Account Size | Challenge Name | Price (USD) |
|---|---|---|
| $6,000 | One-Step Challenge | $49 |
| $15,000 | One-Step Challenge | $99 |
| $25,000 | One-Step Challenge | $179 |
| $50,000 | One-Step Challenge | $249 |
| $100,000 | One-Step Challenge | $469 |
| $6,000 | Two-Step Challenge | $67 |
| $150,000 | Two-Step Challenge | $569 |
| $6,000 | 3-Step Challenge | $23 |
| $100,000 | 3-Step Challenge | $349 |
For Traders offers discounts, such as a 15% discount on challenges, making it an attractive option for traders looking for value in their challenge fees.
Payouts and Profit Share
The payout structure at For Traders includes an 80% profit split, aligning with industry standards for similar firms. The firm allows withdrawals through multiple methods:
- Bank Transfer
- Crypto
- Riseworks
However, specific details regarding payout frequency are not explicitly stated.
Who This Firm Suits
For Traders is well-suited for:
- Traders looking for flexible evaluation options without time constraints.
- Traders interested in managing larger accounts, with a scaling plan that can increase managed funds up to $2 million.
- Those who prefer trading on multiple platforms and a range of instruments.
However, the firm may not appeal to:
- Traders who engage in high-frequency arbitrage or Martingale trading strategies due to strict restrictions.
- Individuals located in the 15 countries where For Traders is restricted.
Conclusion
For Traders stands out as an innovative proprietary trading firm with its flexible evaluation process and a trader-centric approach. With features like performance-based scaling and a variety of supported platforms, it presents a noteworthy option for traders looking to advance their careers in the trading industry. As always, readers are encouraged to compare For Traders against other firms on Prop Firm Pal to find the best fit for their trading needs.
Risk Disclaimer: Trading involves risk, and evaluation terms can change. Readers should verify current terms directly with the firm before purchasing a challenge.
