Elite Trader Funding Review for 2024

Elite Trader Funding Review

Elite Trader Funding offers multiple paths to funding. Unfortunately, the company has gotten hurt by the gambling behavior of some of its customers during huge news spikes. Thus, it had to be one of the first futures-funded trader companies to make conditions more difficult for their live-funded traders.

Let’s look at each trader evaluation type and see how it compares to the alternatives around the futures industry. In many cases, you can find better value options.

Best Elite Trader Funding Alternatives by Type

Elite Trader Funding is accelerating their development of funded trader products. They have introduced unique features to the industry by offering different exchanges, massive $12,500 100% profit split to the trader, cheap resets and mobile trading. To make things even sweeter, Elite Trader Funding prop firm now let's you qualify in just 5 days making the program even better than before! From the buzz that this prop firm is creating online, it seems like more and more traders are choosing it over TopStep Trader to use Tradovate linked to their TradingView accounts.

Pay as little as $40 to get a chance at funding with fast growing trader funding company. If you do not succeed, you can reset all accounts for industry low $75. Their data feed is also priced very reasonably at $80. With our discounts for Elite Trader Funding you should be able to buy new accounts for cheaper than industry low reset price.

Please note that Elite Trader Funding is not the same as the elite-traders.com which has an extremely bad reputation. If you Google Elite Trader Funding name with a keyword "scam" in it, you might see the other company that's known online to not be legit and is not regulated. This is not the case with Elite Trader Funding prop firm, which is from what we have gathered a legit prop company.

Elite Trader Funding February 2023 Update: Diamond Hands Evaluation

Elite Trader Funding has recently introduced a new evaluation style called "Diamond Hands," which is designed to allow traders to unleash their full potential in the world of swing trading. With a 100K account size, traders can make significant trades by holding positions through market close and over the weekend.

One of the key features of the Diamond Hands account is its end-of-day drawdown calculation, which helps to keep the excitement going until the market closes. In addition, traders can choose between two mini contracts or 20 micro contracts, allowing them to trade big or small depending on their strategy.

The Diamond Hands account also offers a level of risk management, with a $3,500 max drawdown and a $1,500 intraday daily loss limit. This allows traders to take calculated risks, knowing their accounts will be protected. And when traders reach their $5,000 profit target, they will be satisfied knowing their hard work and trading skills have paid off.

Overall, the Diamond Hands account type is a valuable addition to the offerings of Elite Trader Funding and provides traders with the tools they need to succeed in the exciting world of swing trading.

Just to re-iterate, here are the specifics on the new Diamond Hands Evaluation:

• Ability to hold trades overnight and during weekends
• $100K Account
• Max Contracts: 2 minis / 20 micros
• End of Day drawdown calculation
• $3,500 max drawdown
• $1,500 daily loss limit
• $5,000 profit target
• Cost: $365

Elite Trader Funding 2022 Recap

Elite Trader Funding Promo Code: M8CGRF

Trader Funding Formats at Elite

Traders have different needs and budgets. Elite Trader Funding allows traders to choose optimal funding path.

1 Step Evaluations - Best Drawdown to Profit Target Ratio

Single step evaluations offering some great value at current discount.

1 Step evaluations start from 1:1 profit target to drawdown ratio in $25,000 account, where traders have to reach $1500 profit target without violating $1500 drawdown. All the way up to accounts with $7,500 in drawdown. With Elite Trader Funding allowing up to 10 programs per user. Traders seeking larger accounts can attempt to qualify for up to $75,000 in drawdown with 300 futures contracts available to trade from day 1, assuming evaluation successfully passed.

Like all programs at elite, evaluations are very straight forward with no hidden rules or tricky scaling plans to adhere to.

Single Step evaluation highlights:

• Single max drawdown amount - no need to account for daily and weekly drawdown. Single drawdown figure to stay above before reaching profit targets
• 10 day minimum - traders can qualify for funding in as as few as 10 days. If you need more time, you can take as long as you need.
• Profit Target - since the evaluations are comprised of only one evaluation step. Traders only need to reach single profit target figure and minimum day requirement to qualify for funded account.
• No scaling - trade full size from the beginning. If you choose of course. Traders can also trade micro contracts to lower risk or break down positions better. In the current volatility environment maximum position size is pretty high for the account sizes. But nice to have the option to trade at very high leverage. More important for growing funded account.
• Real-time data included
• Ninjatrader license included.
• Mobile trading option available - newly added option to trade via Tradingview and Tradovate mobile friendly platforms.
• Resets $75 - cheapest reset price in the industry. Restart your evaluation as necessary.

Fast Track - Low cost evaluations for Aggressive Traders

Very low cost opportunity to get funded. Perfect for aggressive traders who generally pass or fail these types of evaluations well within 10 trading days.

How are fast track evaluations different from 1 Step Evaluations?

• Much cheaper
• No resets allowed
• Maximum of 14 calendar days to complete 10 trading days
• Get up to 2 months of live data free in live funded account. Savings of up to $160

Get a chance at funding for as little as $45 before any discounts applied.

Largest fast track account offers $6,500 in drawdown for only $150 in fees before any discounts. Incredible max drawdown to evaluation fee paid ratio.

Static - Best for traders who like to let positions run

1 Step and Fast track evaluations feature trailing drawdown type. Meaning drawdown does not stop trailing by max drawdown amount in the valuation phase, and trails until initial balance is reached in funded environment

For traders uncomfortable with trailing drawdown - Elite Trader Funding offers Static Drawdown account option.

Static minimum balance never trails no matter the fluctuations in the account.

Static Drawdown trader evaluation accounts parameters:

• 100k initial virtual balance
• $625 max drawdown
• $2000 profit target
• Trade up to 2 mini, 20 micro or 2 small exchange contracts without any scaling plan
• 10 minimum days to funding
• $75 resets
• Ninjatrader and mobile options available

Elite offers great value for traders looking to be evaluated for funded accounts at low cost. Get access to high leverage from $45 and be funded in as few as 10 days.

Let's dig deeper into trader evaluations and tips for finding the best program to fit your budget and trading style

Most Popular Elite Trading Plans

Elite Trader Funding Program Breakdown

Elite Trader funding programs from $45 to $75,000 of drawdown accounts offer something for traders of all trading style and budgets. Three types of 10 day trader evaluations allow traders to leverage a small evaluation fee into a funded trader account. Virtual or starting balance of the accounts represents roughly the amount of funds necessary to trade allowed contract amount in live brokerage account. It is not significant in evaluating value of the programs. Let's take a look at features that do define the differences between the programs.

Max Position: Maximum amount of contracts traders can trader in a particular account. Elite trader funding allows maximum size to be used from the first trade. Great for traders who are tired dealing with various scaling plans getting traders in trouble.

Versatile product offering means different instruments available in the program have different position size restrictions. Let's look at our favorite 150k 1 Step evaluation account maximum position sizing breakdown:

• 18 minis. Minis are futures contracts such as ES, NQ, CL, ZB.
• 180 micros. Micros are smaller contract of above listed instruments, with most popular being MES and MNQ
• 18 small. Small Exchange contracts



Elite offers some of the largest maximum positions per equivalent evaluation. While it is great that risk in evaluation account is limited to fees paid, and traders do not assume any additional risk in trading such high leverage. It is important to note that this is extremely high available leverage and would likely be poor risk management to use full possible allotment. However, it is nice for traders to have opportunity to decide for themselves just how aggressive they would like to get with their evaluations and funded accounts.

Daily/Weekly drawdown: N/A! Single drawdown figure for the whole evaluation. No need to worry about multiple drawdown figures.

Trailing Threshold: in Fast Track and 1 Step evaluations - maximum allowed drawdown for trading evaluation account. Drawdown is the dollar amount from account high (including open and closed traders) trailing by amount allowed in your specific evaluations. For example, in account with $5,000 drawdown in a 150k account.

Balance can not go to or below $145,000. As new account highs are made the liquidation threshold moves up by drawdown amount from the balance high.

In 150,000 account with drawdown of $5k, trade closed for $2000 profit would result in drawdown moving up to $147,000. Very important to note that the drawdown also trails unrealized gains. So a position that goes $1000 in trader's favor and come back to break even stop would also trail

Scaling: None. Trader full size from first trader

Trading software:

• NinjaTrader is included with the Elite trader evaluations fees. Some programs like the $45 fast track, it is cheaper to buy funded trader program with NinjaTrader, than to buy or lease NT itself.
• Tradovate - feature rich platform is now available to be used with Elite Funded Trader Evaluations.
• Tradingview - traders can connect to tradovate brokerage / data feed via trading view.

Real-Time Data: 

Elite has unique product offering compared to many in it's niche.

All the popular products under CME, CBOT, NYMEX and COMEX.

Elite trader funding is the only company to offer Small Exchange contracts to be traded in evaluation and funded accounts

Profit Split: Traders get 100% of first $12,500 of profit in funded account and 80% profit split thereafter.

Reset: Elite has one of lowest reset costs in the industry, traders who breach drawdown can reset their accounts for only $75 to reset account parameters to initial balance.

See more of The Best Funded Trader Programs for 2022

Advanced Strategies and Aggressive Futures Trading

Elite trader funding offers opportunity to qualify for funding for very low cost.

Traders can use this value proposition to aggressively attack evaluations to get funding:

• Test new strategies in real market environment.
• Execute new semi-auto systems while trading evaluation. Could be a difficult jump from back testing and development into live environment. Elite trader funding evaluations allows you to get funding for your new strategies. Very helpful to have risk limited to the fees paid ant not having to deal with costs of adverse affects of your systems. You will simply fail and be able to reset or rebuy instead of dealing with fallout of system gone bad
• Use evaluations to trade against your live positions. If you are going to lose money in real money account, at least get funding when it goes against you. In difficult market environments getting additional funding could be very profitable long term.
• Try new instruments. Small exchange offers some interesting products across the index, interest rate and commodity spectrum. Jump right in with Elite trader funding evaluation.

Tips for Trading Trailing Drawdown

Trailing drawdown evaluations allow funded trader companies to offer very low cost evaluations. The trailing drawdown becomes a non issue once funded as it stops trailing at initial balance + 100. At that point traders can employ strategies not affected by the drawdown type.

• Use limit orders to exit positions. Since drawdown trails highest reached balance including open positions. A position that goes $1,000 into profit and come back to stop a trader out at break even reduces the drawdown by $1,000. If your system calls for such trade management and has high expectancy of passing with such risk management, of course, go ahead. Personally, prefer to take profits to avoid losing drawdown.
• Break down positions into smaller parts. At Elite, traders can trade 10 micros for each mini. Consider putting on 10 micros instead of 1 ES to allow for more flexible scaling and position management.
  

What Makes Elite Trader Funding Different?

Unique program in trailing drawdown and deep discount niches. Some similar features l

Elite Trader Funding Highlights separating them from competition:

• Keep more of your profits, 100% of first $12,500 in live profits goes to the trader
• Product offering and leverage. Most contracts offered by accounts size. Leverage is dangerous, but can be utilized effectively when risk is limited to program fees paid. Traders can trade 10 micros for each mini. Small exchange products are available with Elite Funded trader.
• Platform selection. Very popular NinjaTrader and Tradovate are both available for traders.
• Mobile trading. When choosing Tradovate traders can trade using web and mobile versions.
• Price - deep discount pricing that is cheaper than data and platform alone, comes with a chance at funding.
  

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Read more about the risks associated with funded trading.