Trade the Pool Review – Scam or Legit? My Honest Take

Curious about the funding programs at Trade the Pool? Or maybe you are new to prop trading and want to see which company is worth your time.

In any case, my following Trade the Pool will give you a clear idea of whether this prop firm is worth your money or not.

Trade the Pool Unique Highlights Overview:

Based on the search results provided, here’s a table summarizing key information about Trade The Pool prop firm:

Note that Trade The Pool is primarily focused on stock trading, which sets it apart from many other prop firms. The company emphasizes transparency and community building among traders. Always verify the most current information directly with Trade The Pool, as terms and offerings may change over time.

Pros

• The team is known from The5ers.com
• Four account sizes for various traders
• Unique “Pump and Dump” features for irregular trading
• New traders can enjoy a 14-day free trial and diversify their portfolio with over 12,000 securities and ETFs.
• Quick customer service across platforms
• 4.4 ratings on Trustpilot for good customer reviews 

Cons

• Dealer evaluations are rigorous
• Special offers for evaluation programs are limited 

What is Trade the Pool?

Trade The Pool is a proprietary corporation whose main focus is exchange stock trading. It is operated by Five Percent Online Ltd. and was constructed using the same technology as The5ers, a 2016 launch. With the help of a group of seasoned active traders, the business has grown to be a major force in the trading market.

Trade The Pool’s main objective is to make international stock markets easier for traders to access. With a variety of account settings, the firm caters to traders of all levels of experience. Their goal is to provide a trading environment that supports and fosters traders’ overall growth.

This shows that they have more important goals than just financial gain. Their objective is to create an atmosphere that benefits both the business and its partner dealers. 

Trade the Pool Funding Programs and Challenges: Rules and Requirements 

Traders can utilize their money to sponsor initiatives by using the Trade the Pool website. There are four different account sizes available: Standard, Professional, Advanced, and Premium. The sizes vary from $10,000 to $250,000. For every size account, traders must meet strict profit goals and maximum drawdown requirements.

To finish the evaluation phase, traders must meet predefined profit targets in 45 days while making sure they don’t go over daily loss thresholds and the maximum drawdown.  

1. The maximum daily loss varies from 1.5% to 0.77%
2. The profit targets span from 9% to 4.6%
3. Maximum drawdown of 4.5% to 2.3%
4. The challenge period has finished at least 30 trades 

Trade The Pool’s funding programs have been praised by traders who have profited financially and had success in their trading endeavors. The platform’s commitment to providing a range of funding options tailored to different account sizes and trading preferences has been well-received by its user base. Trade the Pool offers its resources and assistance to traders, who retain a sizable portion of their earnings in exchange. 

Funding Program Options:

• Standard Account: Starts with a $10,000 account size.
• Professional Account: Provides a larger account size of $50,000.
• Advanced Account: Offers a $100,000 account size.
• Premium Account: Provides a substantial account size of $250,000.

What are Forex Prop Challenges?

Prop firms, or proprietary trading enterprises, use forex prop challenges as a kind of evaluation process to identify great traders and give them the chance to trade with the firm’s capital. These challenges, which consist of a set of trading guidelines and goals to follow over a predetermined period, are meant to evaluate a trader’s ability to make money while appropriately managing risk. 

A forex prop challenge normally has two primary stages:

1. The challenge phase: In this first stage, traders are given a demo account with a fixed balance and challenged to meet a profit target within a predetermined period, usually a month or two, while abiding by other trading guidelines and maximum drawdown constraints. This stage assesses the trader’s ability to make money within predetermined risk parameters.

2. The Verification Phase: After completing the challenge phase and adhering to the rules, traders move on to the verification phase. This phase is comparable to the challenge phase, although it usually lasts longer and could have slightly different profit goals or standards. Verifying the trader’s reliability and experience over an extended period is the aim of this step.

Upon fulfilling both phases, traders are frequently granted access to a funded account. This suggests that a portion of the prop business’s funds are allocated for the trader to manage. The trader and the prop firm split the earnings from trading this cash by a prearranged split.

Each prop business has a different cost associated with forex prop issues. This fee ensures that traders are committed to the offer and pay for the evaluation process.

The specific requirements, objectives, and format of prop challenges may vary greatly throughout companies. Traders should meet the following standard requirements:

Profit targets: A set percentage of the account balance that traders have to reach in advance.

Drawdown limits: The most daily and cumulative percentage loss that can be incurred from the account’s peak amount.

Minimum trading days: The total amount of days that must be traded actively during the challenge.

Trade style limitations: Certain businesses may impose rules about trading tactics, such as prohibiting overnight holdings or high-frequency scalping.

Forex prop challenges, excluding the initial challenge charge, give traders access to substantial trading capital without risking their money. Participants must carefully consider the conditions of these challenges, though, as the strict standards set by the prop firms are meant to assess traders’ trading skills, risk tolerance, and discipline. 

Trade the Pool Broker: Do They Use a Reliable Platform? 

Access to Trader Evolution’s unique platform, which has a variety of advanced trading tools, is provided via Trade The Pool. A scalper window, super dome, stock scanners, and market depth features are some of the features.

Trade the Pool Fees: How Much Do They Charge? 

Trade the Pool offers funded accounts to traders who fulfill the prerequisites for the challenge. The procedure can be moved forward to a financed account by beginning with a trial account.

Traders can access specialized buying power when they have acquired financing, and they are eligible for profit distributions under the conditions of the profit split agreement. Different profit split arrangements are available, allowing traders to keep a significant portion of their gains, depending on the size of the account. 

Account Funding: 

Trade the Pool provides a variety of funding options to accommodate the various demands of traders. Below is a summary of the different account sizes and the corresponding funding amounts: 

Account Size

• Funding Amount
  • $10,000
  • $100,000
  • $50,000
  • $250,000
  • $100,000
  • $500,000

The costs of taking part in a proprietary trading firm’s program, especially if it allows traders to trade the firm’s capital, are referred to as forex prop trading fees. For many forex prop firms, especially those that conduct challenge or evaluation programs to screen potential traders, these fees are an essential part of their business strategy. The several kinds of fees that traders could experience are broken down as follows:

1. Costs of challenges

Traders must pay these upfront costs to participate in a trading challenge or evaluation program. The challenge is simply an assessment of a trader’s capacity to turn a profit while abiding by particular risk management guidelines. The trader is typically given the option to trade using the company’s funds if they are successful. Depending on the firm, the amount of the sample account offered for the challenge, and the difficulty of the challenge itself, challenge fees can vary greatly.

2. Setup or administration fees for accounts

A one-time setup fee may be imposed by certain prop firms to create and maintain a trader’s account. This charge may cover the administrative expenses related to establishing the trading infrastructure, keeping an eye on the trader’s account, and providing other backend services required before the trader may start trading.

3. Desk fees per month

Desk fees are similar to what you would pay to hire the prop firm’s resources (such as software, data feeds, and trading tools) and real or virtual premises. Certain online FX prop businesses may charge a monthly fee for access to premium trading platforms or tools; this practice is more prevalent in conventional prop firms that include physical trading desks.

4. Divided Profits

The profit split arrangement is an important financial factor in prop trading, even though it isn’t a fee in and of itself. Traders can use the firm’s capital to trade if they pass a challenge, and any profits they make are divided into a predefined ratio between the trader and the firm. Splits that benefit the trader, like 70/30 or 80/20, are common. The details of the profit split must be understood since they have a direct impact on the trader’s potential earnings.

5. Data or Software Fees

When accessing specialized trading software, real-time data feeds, or analytical tools that aren’t part of the prop firm’s base package, traders may occasionally have to pay extra costs.

6. Training or Education Fees

Additionally, some prop companies provide mentoring programs, trading workshops, and training courses. These may be compulsory or optional components of the trading program, and the cost will vary greatly according to the breadth and length of the material.

Important Points: 

Value for Money: Traders need to evaluate if a prop firm’s fees are reasonable given the services they receive, particularly about the availability of trading capital, the available technology, and the level of support.

Transparency: Reputable prop businesses don’t have any hidden fees and are upfront about their price schedule. Before committing, traders should carefully read over all terms and conditions.

Risk: Although it may seem tempting to pay fees in exchange for the opportunity to trade with a lot more capital, traders should think about the possibility of failing the challenge and losing the money they spent.

Prop trading on the forex market presents a unique opportunity for me to leverage larger amounts of capital than I could otherwise obtain. To make an informed choice on which prop firm to work with, it is crucial for me to comprehend the fee structure.

Trade the Pool Proof of Payment:

Trade With The Pool and Deel’s most recent collaboration, traders may now benefit from a payout system that makes it straightforward and quick for them to withdraw their money every 14 days. Traders have the option to exit as soon as they have made a profit equivalent to one daily loss.

1. The following is a list of the daily loss caps for each type of account:
2. The micro buying power (BP) is $300.
3. The Super Buying Power (BP) is $700.
4. $1,300 greater in purchasing power (BP)
5. The ultimate buying power (BP) is $2000.

These figures demonstrate TTP’s commitment to transparency in payout administration and provide the upper limits for each account size. This project demonstrates their dedication to ensuring that traders have a faultless trading experience and that profit withdrawals are available and timely. 

Trade the Pool Customer Support: 

Exchange The Pool offers a variety of support alternatives to its users through multiple channels. They have a thorough FAQ section on their website that aims to address common queries. Additionally, customers may easily obtain their contact information, including phone numbers and email addresses, if they require personalized service. The office is open during the following hours:

Sunday through Thursday, 07:00–17:00 GMT, Fridays: GMT 7:00–12:00

Additionally, Trade The Pool is active on several social media platforms, which enables them to interact with users and promptly address any concerns they may have. 

What Makes Trade the Pool Unique? 

Several specialized features are available in Trade The Pool (TTP) to assist traders within the company. Below is a summary of the salient features:

The Button for Reset/Bypass:

TTP designed the Reset/Bypass button to satisfy this need since they recognized the significance of timing in trading. This feature enables traders to immediately resume trading after reaching the daily loss cap, allowing them to seize new opportunities. The button is in the right corner of the trading application’s dashboard.

However, there are costs associated with utilizing this button that change based on the account’s size: 

• Mini Buying Power (BP): $25 is needed for a reset.
• Super Buying Power (BP): $50 is needed for a reset.
• Additional Buying Power (BP): A $100 reset cost.
• Final Buying Power (BP): $250 is the cost of the reset.

TTP’s commitment to providing traders with the flexibility to adapt to shifting market conditions is demonstrated by this functionality. 

The Features of “Pump” and “Dump”:

TTP introduces “Pump” and “Dump,” two distinct functionalities. They are designed to reward consistent performance and lower long-term risks by dynamically altering a trader’s daily loss allocation. 

A Pump: What Is It?

When a trader experiences five consecutive winning days with profits that are at least triple their initial daily loss, this is known as a “Pump.” TTP raises the trader’s daily loss allowance in these situations. This increase gives traders more opportunity for profit and risk depending on the specific program they have selected. 

What is meant by a dump?

A “Dump,” on the other hand, is a reduction in the daily loss cap that happens exclusively after a “Pump.” It shows up when a trader experiences five days of losses in a row, with losses amounting to at least twice their initial daily loss. By preventing excessive risk exposure, this system maintains balance.

These features, which replicate real-world trading dynamics, guard against prolonged risk exposure, and provide incentives for consistent performance, flawlessly encapsulate the essence of TTP. 

Trade the Pool Reviews: What Do Their Customers Say?

Trade The Pool has a rating of 4.3 stars out of 5 on Trustpilot, based on 131 user reviews.  

#1. Other than TTP, I don’t believe any other prop firms let you trade equities. I looked into several options, and these people seem to be the best by far.

I lost a lot of accounts before I was eventually funded. A small account that has cost me a few hundred dollars is better than a large account in my opinion. If you start with a large account and are unable to pass the financed phase, I believe you are going to fail miserably. Yes, the requirements are rigorous, but if you can get through them, you can be sure you’re prepared for the real deal.

#2. My evaluation just began, but so far, I’m happy with how things are going. Since discovering TTP, Devon N has been really helpful in responding to all of my in-depth inquiries. Devon N also assisted me today with a technical problem on the platform, which was ultimately determined to be the result of a human mistake. Watch this space to see if and when I pass my exam.

#3. With prospective funding opportunities, Trade the Pool offers an excellent opportunity to master critical trading skills, particularly risk management. They might, however, enhance the responsiveness of customer support and streamline the trading platform, particularly in difficult circumstances like various order kinds, halts, etc. Trade the Pool has the potential to improve as a trading platform with these modifications. (also read: Funding Pips Review)

#5. In my opinion, a prop firm’s flagging a 1-star rating for review does not mean that Trust Pilot should remove it. However, the prop company should serve a cease and desist letter and bring a defamation lawsuit if the review is wholly untrue. Additionally, I believe that reviews belong on B.B.B.’s website where they cannot be removed, even though more traders fall victim to scams there.

Conclusion

Within the stock trading industry, Trade The Pool (TTP) is a trustworthy and creative business. Trading accounts from TTP come with features and tools to help traders with different levels of experience succeed.

The organization is managed by seasoned business professionals who place a high value on partnerships and growth. The trading accounts offered by TTP are highly adaptable and feature-rich, with special tools like “Pump and Dump” to help traders succeed. Trustpilot scores attest to TTP’s stellar reputation and the faith that customers have in its offerings.

Despite its stringent evaluation standards, Trade The Pool is a great choice for committed traders due to its partnership with Deel, timely customer support, and vibrant community. Trade The Pool is an excellent option for investors who are thinking about joining private stock trading firms. Given the availability of multiple account sizes and a 14-day free trial, traders can explore the website with confidence and launch their trading careers. 

Some similar firms include: Audacity Capital, FXIFY and Earn2Trade.

If you want to begin your trading journey, I recommend going with CTI’s Scaling Plan. Not only will you get instant funding with them but also get access to their vast selection of tools & resources.