Traders With Edge

Who they are:

Traders With Edge are based in Australia mate! They are a relatively new prop firm founded by Samuel Junghenn that started out as a Licensed Investment Company for a few years before building the prop firm last year in 2021. They went live not long after and tons of prop traders are already speaking about them.

What they offer:

Traders With Edge offer funded accounts to profitable traders who have reached their profit target in either of their packages, Turtle or Hare. The Turtle package consists of only Phase 1 with a leverage of 1:10 and the Hare package consists of a standard 2 Phase challenge where the leverage is set at 1:30. Traders With Edge offer account sizes between $5,000 – $200,000 and soon to be added, a $500,000 account and a $1,000,000 account. – Nice! The profit split is at an impressive 80%!

Turtle Package:

Traders have to reach a profit target of 10%, with a max daily loss of 2.5% ( this is tricky – be careful ) and an overall max loss of 5%. – Not too impressive. Traders have to trade for a minimum of 10 days and have a maximum time of 365 days – That’s 1 year to be exact. The leverage is set at 1:10. Should a trader reach the Phase 1 profit target, they will receive a funded account to trade with an 80% profit split. Traders are eligible for account scaling of up to $3,000,000.

Hare Package:

Traders have to reach a profit target of 10%, with a max daily loss of 5% ( that’s more like it ) and an overall max loss of 10%. Traders have to trade for a minimum of 10 days and have a maximum time of 30 days in Phase 1 and 60 days in Phase 2 – Sound familiar? The leverage is set at 1:30. Should a trader pass Phase 1 and 2, they will receive a funded account to trade with an 80% profit split. Traders are eligible for account scaling of up to $3,000,000.

Traders who are on the Turtle package, are able to hold positions overnight and over the weekend for both challenge and funded accounts, however, Hare package holders may hold positions overnight but have to close all their positions by the weekend on their live account.
EA’s are allowed subject to approval.

The math:

So using the $10,000 Turtle account as an example, here is what you’re dealing with.

A 5% Maximum drawdown = $500 ($10,000/5),  a 2.5% Daily drawdown = $250 ($10,000/2.5) and a 10% profit target = $1,000 ($10,000/10%). All this for $100.  So technically, you’d pay $100 for a maximum drawdown of $500. ( The same funding amount and restrictions are offered by Finotive Funding, FundingMadeSimple, and a few other prop firms. However, just like Finotive Funding, Traders With Edge have smaller profit targets to reach!)

Using correct risk management, you would only be able to take 5 trades with a $100 stop loss for each trade at a lot-size of 0.10 using a 10 pip stop loss, or 0,5 using a 20 pip stop loss – So if you manage to hit your stop loss 5 times in a row, you’ve managed to violate the drawdown rule, but remember, BE VERY WARY of the 2.5% daily drawdown limit… which is set at $250. So per day, you are actually limited to let’s say 5 trades with a $50 stop loss for each trade. Your lot size will now sit at around 0.5 with a 10 pip stop loss or 0.2 with a 25 pip stop loss. – See how this affects you? It is very easy to violate this.

Using the $5,000 Hare account as an example, you would only be able to take 5 trades with a $100 stop loss for each trade at a lot-size of 0.10 using a 10 pip stop loss, or 0,5 using a 20 pip stop loss. If you manage to hit your stop loss 5 times in a row, you’ve managed to violate the drawdown rule, but remember, there is also a 5% daily drawdown limit… which is set at $250. So per day, you are actually limited to let’s say 5 trades with a $50 stop loss for each trade. Your lot size will now sit at around 0.5 with a 10 pip stop loss or 0.2 with a 25 pip stop loss. – Again, it is so common for traders to be taken out because of a daily drawdown limit.

Is Traders With Edge for me?

It is important to understand that each prop firm has its advantages and disadvantages, and this attracts all kinds of traders. As we know, each trader is unique in their own style and preferences. So ultimately, it is best to know what it is you are looking for in a prop firm before approaching one. Do you want a high-profit split? easier trading restrictions? smaller profit target? longer trading days? It is all up to you and the available selection might just intimidate you!

So if you are looking for a prop firm with a 1 Phase challenge, high-profit split, and large scaling option, or, a 2-phase evaluation test, high-profit split, and large funding, then Traders With Edge could be for you. For day traders and swing traders, you will be happy to know that weekend holding (only Turtle), news trading, and overnight holding are also allowed.

Conclusion:

Although no reviews are available on Trustpilot, this is a legitimate prop firm offering funding of up to $3,000,000 upon completion of the 1 or 2-Phase Evaluation Process with a high 80% profit split. However, their drawdown limits, specifically the daily drawdown limits, may have you trading slightly differently according to your trading system due to pressure, and ultimately have you looking for another prop firm. 

That is it for this review, if you would like to sign up with Traders With Edge, then click here!

Please leave a comment below, and don’t forget to share this review by clicking the Facebook Share button above this review.