Take on the Prop Trading Challenge with Ultimate Traders

Proprietary (prop) trading as a concept has
experienced a huge surge in popularity over recent years, developing into an
established way of trading for many across the world, while ushering in a new
era in terms of how trades are conducted.

For the many companies now operating within
the sector, prop traders are typically expected to pass a lengthy, multi-level
evaluation process before being deemed appropriate to proceed to the funded
account stage.

This can lead to intense frustration from
some participants, particularly skilled or experienced ones, who end up finding
themselves caught up in a cycle of repetitive evaluations that can negatively
affect both their emotions and outcomes.

Ultimate Traders tackles this problem head on,
with the innovative prop firm removing the need for a second evaluation stage
as part of its ‘Speedy Challenge’ – meaning competent traders can kickstart
their trading journeys without unnecessary delay.

The
speedy way to account funding

Unlike traditional multi-tier structures
offered by various other firms, the Speedy Challenge provides a fast-track
route on the path to a live funded trading account through its unique
single-tier structure.

Designed for experienced, disciplined
traders with rapid results in mind, this challenge saves time and effort,
bypassing the drawbacks of conventional evaluations. It allows individuals to
skip the second step by going directly to a funded account once the challenge
is successfully completed.

It provides traders with up to 1:30 leverage on forex, with tailored leverage
for other assets like commodities, indices, and cryptocurrencies, giving them
greater control over their trading strategies. There is also full transparency
in the pricing structure, with entry fees starting at $79, while VAT is applied
on challengers from the UK or EU.

The Speedy Challenge offers quicker access to
capital, with multiple account sizes ranging from $5,000 to $200,000, allowing
traders to reach the account funding stage and generate profits faster.
However, this accelerated path comes with tighter risk controls, including a 4%
drawdown limit, compared to the 6% cap offered in the company’s ‘Classic
Challenge’.

Unlocking
the Speedy Challenge benefits

With no fixed deadlines, participants who
sign up for the challenge are encouraged to trade on the days when the market
conditions are favourable, meaning there is no time pressure with regards to
generating profit on either the live or evaluation accounts.

Aside from the obvious fast-track benefits
associated with the Speedy Challenge, traders are able to get excellent value
out of their registration fee, which is unmatched by other prop firms. It
represents only a small fraction of the account balance and is refunded once
the first withdrawal is made from their live account.

Another helpful feature for traders is the
access they have to automated trading tools, with Ultimate Traders granting
permission to use Expert Advisors (EAs) so long as they are not used in an
abusive way.

Important day trading techniques such as
scalping and hedging are also permitted, meaning traders can modify their
strategies and manage risk more effectively, particularly during periods of
rapid market fluctuation.

Optional add-ons and fast withdrawals

Challengers have several opportunities to
further tailor their prop trading experience through a series of optional
add-ons, which include removing stop-loss requirements, and enabling news
trading during high-volatility events. They can also opt for a 90/10 profit
split in order to retain more of their earnings.

Once funded, traders are able to benefit from flexible withdrawals, with the
ability to withdraw profits every 14 days, which is significantly better than
the industry-standard 30-day cycle. This added flexibility provides quicker
access to profits, supporting financial freedom and motivating participants to
maintain high levels of performance.

Ultimate
Traders’ trading rules

Once a trader accepts the challenge, they
are expected to meet a defined set of rules before they are entrusted with the
company’s capital in a fully-fledged funded trading account, with the most
important rules outlined below.

●
Minimum of 3 Trading Days: Traders must
place at least one trade on three separate days, but this rule is removed for
those with a funded Ultimate Traders account.

●
4% Daily Drawdown Limit: Losses cannot
exceed 4% of the previous day’s recorded equity, including both balance and
floating P&L.

●
6% Maximum Loss Limit: Total losses must
not exceed 6% of the account size, with the limit trailing until it matches the
initial balance, where it remains fixed.

●
10% Profit Target: Traders need to reach
a 10% profit target (e.g., $100,000 account must grow to $110,000) with no time
limits imposed.

●
Weekend Trading / Stop-Loss: All trades
require a stop-loss and must close before the weekend, unless traders pay a 10%
premium to lift these restrictions.

Offering an accelerated path to trading
capital, the Speedy Challenge is well suited to disciplined prop traders who
can manage risk effectively under tighter constraints and are looking to
progress without the usual delays associated with completing multiple
evaluation phases.

Looking to take on the challenge? To find
out how to get started, click here.

This article was written by FL Contributors at www.forexlive.com.