Traders Central Review

This Traders Central review will identify all the information you would need to know about this prop firm. They were established as a funded trading firm in January 2020 in Vancouver, Canada. Looking at their rules and everything they offer we can see that this company has a lot of the industry standards for funded trading accounts.

4/5
Traders Central Review

Advantages

  • Capital of up to $2,000,000
  • Leverage of up to 1:200
  • Overnight & weekend holding
  • Profit split of up to 85%

Disadvantages

  • Minimum & maximum trading days
  • Live Chat is a bot

How does This prop Firm Work?

Traders Central has a multitude of purchasable account options ranging from $2,000 accounts to $200,000. They have instant accounts, challenge accounts and a monthly account option that works similarly to their instant package. Starting with their instant account, you can purchase any of their five account sizes with each offering the same rules. You have just a 0.5% withdrawal target and are offered a 60% profit split and the leverage for an instant account is 50:1. You must keep to their 5% drawdown limit and you can trade both overnight and on over the weekend, all on MT5.

With the Challenge account you are tasked with two evaluation stages which you must pass in keeping with their rules in order to achieve a funded account. In stage one these include a trading period of 30 days maximum, and a day 10 minimum. There is also a choice of two rules for either a 5% daily drawdown or 50% positive trades on any trading day. Your profit target to pass this stage is 10%; once you achieve this you move on to stage two. At stage two your rules are slightly more relaxed with 60 days to trade and achieve a profit target of only 4%. The leverage for both stage one and stage two on the challenge account is 200:1 as opposed to the 50:1 on the instant account. The rest of the rules stay the same as phase one and when you achieve the 4% you gain a 85% profit split. Once you have passed both stages you have achieved a funded account and can scale with their scaling program all the way to $2,000,000.

Their final program available is their monthly account which is live trading within 24 hours of purchase and no evaluation. You can purchase 3 accounts ranging from $12,500 to $50,000 which you can grow up to a $1,000,000 account size where you become a fund manager and would no longer be required to pay the monthly fee. With the monthly account your leverage option changes once again and drops to only 3:1. You are subject to a 5% withdrawal target and a 10% maximum drawdown limit and you may also hold overnight and on weekends. Your profit split for the first two account sizes is 60% with a monthly account. With their higher $50,000 account your profit split does drop to just 55%.

How much Capital do they provide and what are their prices?

Traders Central are a funded trading prop firm and provide capital to its clients. This is either after an evaluation, for a monthly subscription cost or through a one time payment for a direct funded account. They provide capital up to $2,000,000 depending on your chosen program. They have several different purchasable account sizes which are as follows:

The OTF Instant $2,000 account for $59.80

The OTF Instant $5,000 account for $148.80

The OTF Instant $10,000 account for $298.40

The OTF Instant $25,000 account for $695.10

The OTF Instant $50,000 account for $1391.10

The OTF Challenge $5,000 account for $37.80

The OTF Challenge $10,000 account for $53.50

The OTF Challenge $25,000 account for $100.80

The OTF Challenge $50,000 account for $178.70

The OTF Challenge $100,000 account for $300.70

The OTF Challenge $200,000 account for $499.10

The Monthly $12,500 account for $53.50

The Monthly $25,000 account for $100.80

The Monthly $50,000 account for $271.60

Are They legit?

Traders Central is a legit proprietary firm offering funded accounts to traders. They have been offering funded accounts for over two years now and have an ever growing online presence. Their Trustpilot boasts almost 500 reviews with an 80% excellency rating. They have public social media accounts on Facebook, Twitter, Instagram, YouTube and Telegram all with a good amount of following. With all this information available publicly we’re more than happy to say they are legitimate.

What platform do they use?

Traders Central offers MT5 as their trading platform of choice. They also allow for MT4 on some of their programs, upon request. It is also worth noting that their partnered broker is TCBridge Cop which is Traders Central’s own brokerage.

What markets can be traded?

With Traders Central, the instruments you can trade vary based on the type of challenge or program you purchase. Across the different account types they allow trading on forex pairs, stocks, indices, metals, gold, silver and crypto.

Do They Trade Crypto?

Traders Central has different fees and lots for their different account options. Some of their costs include $7 per lot turn around for forex and metals on their monthly account option. You can read all of their costs on the help center tab of the website.

How much does the company charge as commission and spread?​

Yes, Traders Central allows you to trade cryptocurrency, however this is only on an instant account.

What are Their Withdrawal Options?

Withdrawals from Traders Central vary depending on the account you have with them. All 3 account options allow for withdrawals twice a month on both the 14th and 28th. There are also three different profit targets to hit before traders can request withdrawal along with other stipulations. All the rules for each account type, including withdrawal policies are listed on their website.

Do they provide education and training?

With Traders Central, the instruments you can trade vary based on the type of challenge or program you purchase. Across the different account types they allow trading on forex pairs, stocks, indices, metals, gold, silver and crypto.

Do they have Support and Contact options?

You can contact Traders Central through both their support email and the live chat function available on the website. While at first you are handled by a chat bot you can get through to a human agent eventually. You can also get support through some of their social media accounts as well as information available on the website itself. There is a Q&A section under each of their program options that answers some frequently asked questions. They also have a Help Center section which answers a much wider variety of queries.

What makes them unique?

There are several things that made Traders Central unique. Most firms in the industry partner with a broker but TCBridge Cop is their own brokerage firm which they developed after issues with another broker in 2020.

This company is also unique from other firms as while they do have most of the usual rules and regulations of other prop firms they differ with some. Each of their programs allow for different trading instruments, which makes some of their accounts restrictive for traders. This is also true of their leverage rules as they also change depending on the account you purchase. Their profit targets, daily drawdowns, and profit shares also change based on your account.

 

Overall, Traders Central offer a fairly competitive option for purchasing a funded trading account. They have a lot of the commonly available options for traders and are a legitimate prop firm. Not only do they offer a fairly higher than common profit split on some of their account packages, they also have low drawdowns and allow for overnight and weekend holdings.

 

If you want to find out more about Traders Central or sign up, you can do that here.