Ultimate Traders
Questions & Answers

Yeah, it’s right. All you need to do is to manage to reach a funded stage and they will refund the fee you paid for the challenge. It will be done in a first withdrawal, basically the most fascinating thing in the whole prop experience with them. When I used to have a 10k funded account there, I received my 100 bucks in this way. I made my first 2 RR trades, ask for withdrawal via deel and get around 240 or so, excluding the 20% split that was kept by the firm. Thus, basically traded with only company funds, not spending a single cent.

Yes, you can do so from the client are. However, these are some things you should know: You need to trade for at least 3 days and your payout should be over $100. Also, you are eligible for a payout every 15 days, and it would be done through a 3rd party which may take comission for its services.

If you want to get funded faster, then a speedy account should be your choice. However, there's one minor thing - your skills. If you have a decent strategy and experience with the market, then you can feel comfortable in a speedy challenge. But if you are still learning and practicing, then it would make things difficult for you. Mainly becasue of the daily and overall drawdown limits, those are much tighter on speedy so the difficulty rises significantly. This is why I thinke experience matters, if you are still new to trading or props, then you should go with a classic challenge that allows you much more room for error - because there is going to be error.

The main idea is to provide beginners with less harsh trading rules, to make them able to survive, while mastering their skills in the long run. At the same time, don’t neglect experienced traders that want to save their time and get funded as soon as possible, not proving what they can prove in a shorter 1 step challenge. That’s why speedy challenges are more expensive and have lower max allowed drawdowns. While classic two step assessment allows to commit max 24% overall loss combined and reach only 15% profit target as a whole.

Say less 1. Discipline - that’s not a secret that in order to pass the classic challenge you need crazy discipline with your trading, otherwise you will blow accounts one by one never really making it. You need to master one strategy, and you can do that in a demo account that you can find in any place these days, and you have to follow all of the rules. It would be better to write down all of your rules on paper and look at them before, in the middle, and after your trading sessions. My rules were simple: one trade a day no matter what, taking only trades that checks all of the boxes, avoid trading news (closing deals if news are approacing), keeping risk the same 1%, no trades at all if its FOMC meeting or NFP. 2. Risk management - non-arguable one of the most important aspects when trading with a prop firm, because you have a limited drawdown that you can’t surpass. Moreover, when you are in control of your risk, it will be pretty difficult to lose your challenge even in several days. 3. Keeping a trading journal - this way you will actually learn from your mistakes and get better each time! You have to write down all of your trades that you took, rate them by confidence rate (usually between 4 and 5, because if you took a trade with 3 star confidence that’s strange…), and also make notes for each trade. When the trade didn’t play out, look at it precisely and figure out what you did wrong to avoid that same mistake again. This is basic advice, but I was able to pass the challenge and got a payout. Blessed.

Everything is up to your skill. For example, when I started, having a built strategy, 1% risk management, and one year trading experience, it took me 3 months to get the funded account. Why so long? Ups and downs, win streaks and lose streaks. I didn’t focus on high RR, maybe that’s why it was longer than expected. You can complete the challenge in a week, just making those 10% and 5% profit targets, taking high 4-7 RR positions, while not breaching minimum trading days requirement, at least 3 for each step. It's hard to complain about trading conditions here… Very doable, especially maximum drawdowns, 12% on the first stage, it’s ridiculously big to make you stay in the game for months. At speed it’s more harsh, 6% with the same 10% profits target, but achievable even with 50% win rate. Simple math bro…

If you’re trading stocks only, forget about this platform. They don’t offer stocks, because the platform where all trading is performed, metatrader 4, doesn’t have this opportunity. Actually, it’s not so weird. I haven’t yet seen any prop firm, specialized for stocks. People that prefer stocks usually have enough capital to trade individually without a funded account. Nevertheless, if you want to try it yourself, I can recommend gold trading now. Until it’s not late (tbh I have the signs of this big trendy move is stopping) it’s good for using any breakout strategies and getting good RR. Considering they have speed one step challenge, you def need to give a shot.

The most challenging task is to complete the rule of minimum trading days in this case. Speedy challenge is more harsh, in terms of maximum allowed loss amount, so it’s better to stick to high RR setups and wait for them. I think it’s not about strategy, rather about the asset that has a current strong trend, which is easy to check by RSI and stochastic. You just enter by an impulse candle and voila, making it possible to complete the challenge in 2-3 trades. Again the hardest task is to follow minimum trading rules. I recommend making a few small trades with manual control of profit and loss to fulfill this requirement. About setups, any breakout strategy mixed with trend strength indicators is gonna work.