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As anyone in the industry will know, prop firms are popping up at astounding rates. Therefore, it can be hard for the average trader to differentiate the legit firms from the bad eggs.
That’s why I wanted to talk about The Concept Trading. This firm comes into the industry with great credentials, various funding models, plenty of educational resources and a clear path to building mutually beneficial relationships with traders.
The Concept Trading was founded in 2021 in Australia by Thomas Grayson who acts as the company’s CEO. Supporting Thomas is Max Eason who is the company’s CTO. Together the team has a combined 20 years+ of experience in the industry.
What separates this firm from countless others, is its enrolment in the ASIC licensing scheme, which regulates and holds financial companies to a much higher standard than most other prop firms in the industry. We will look into this further below.
- Earnings Report – Premier Account (Director, $5000)
- ASIC Licence – What it Means
- The Concept Trading – Pros and Cons
- What Funding Models do The Concept Trading Offer?
- 90% Lock Rule
- The Concept Trading – Rules and Restrictions
- Getting Paid
- The Concept Trading vs Other Prop Firms
- Trading Courses
- The Concept Trading – FAQ
Earnings Report – Premier Account (Director, $5000)
To get an idea of how much can be made with this program, let’s explore how the account grows at the hands of a (fictional) trader. The charts below assume an average return of 7% per month. In reality, this is kind of performance is considered top-level, so take it with a pinch of salt.
|Month||Capital ($)||Profit ($)||Your Share ($)||Culm. Profit ($)|
As you can see, scaling is what makes this program so rewarding. Taking a look at the chart above, it’s clear if you manage to stay consistent for at least 6 to 8 months, the profits begin exploding exponentially.
ASIC Licence – What it Means
As mentioned, The Concept Trading is operated under an ASIC Licence. This is a licence provided by the Australian Securities and Investment Commission which allows this company to provide financial services.
This licence is required to operate a financial company in Australia. When assessing whether to grant this licence, the commission will look at a number of factors including whether the company:
- is competent to carry on the kind of financial services business specified in the application;
- has sufficient financial resources to carry on the proposed business — unless regulated by the Australian Prudential Regulation Authority (APRA); and
- can meet the other obligations of an AFS licensee.
This level of scrutiny is rarely required in the prop firm industry as firms are often operated from less regulated countries or have structured the business to avoid such regulations.
Whether you plan to use this firm for trading or education, you can take comfort in the fact that this firm knows what they are talking about.
Source of Funds
Part of the regulations imposed on this firm is that they can provide proof that they have funds to cover their operations. These funds are provided by JP Markets, an Australian-based financial services company.
The Concept Trading – Pros and Cons
- Fast Scaling – This firm offers fast scaling across all its funding models. Furthermore, the scaling is not limited by time (I.e., every three months) but rather by profit.
- High Leverage – This firm offers some of the highest leverage in the industry at up to 1:200. This will be beneficial to those who rely on certain strategies such as scalping.
- Huge Max Funding Potential – Traders are given the ability to scale up to high seven or even eight-figure balances.
- Max Drawdown – The maximum drawdown for most accounts is set a 5% which some traders may struggle with. The exception, however, is the first phase of the “Premier” or “Challenge” accounts where it is increased to 10%.
What Funding Models do The Concept Trading Offer?
There are three distinct funding models to choose from with this firm. Each has its own set of rules and specifications, so be sure to read the descriptions thoroughly. The funding models offered are Traditions, Premier and Challenge.
Traditional – Single Phase Challenge
This account is essentially a single-phase challenge. The first phase is called an “intern” phase in which the trader proves his ability by reaching a modest 5% profit target. After this the trader will begin receiving 50% (rising up to 90%) of all profits made.
The benefit of this program is that the account will receive an additional 50% capital after each 5% profit target is hit. Furthermore, there are no time limits or daily drawdowns to contend with.
Premier – Instant Funding Account
The premier option is an instant funding model in which traders will begin receiving profits from their first trade. Traders benefit from one of the fastest growth plans in the industry in which capital is doubled at every 7% profit target reached.
As you can see, not only does the capital increase rapidly, so does the profit split. This account also benefits from the 90% lock rule (see below).
Prices start at $300 for $3000 of instant capital. If opting for the “President” account, the maximum amount of funding that can be achieved is a huge $10m. At any point, the trader may opt to lock into a certain level to receive 90% of profits, as per the 90% lock rule.
Challenge – Two-Phase Challenge
This model is currently being redesigned. Check the website for more details.
This is the latest model offered by The Concept Trading, in which they offer a two-phase challenge which is popular in the industry.
One particular benefit of this program is the fact that scaling is based on profit; each time the profit target is hit, the account will scale 30%.
This account also benefits from an initial 85% profit split, rising even higher to 90% as the account grows. Again, the 90% lock rule is available with this account.
90% Lock Rule
One unique offering by this firm is the 90% lock rule. Should the trader reach a certain level of capital they are happy with, they will have the option to “lock in” to that level.
Upon locking in, the trader will no longer be eligible to scale up, instead opting to receive 90% of the profits going forward.
Furthermore, on challenge accounts, you will now be eligible for weekly payments as opposed to every 5% profit.
The Concept Trading – Rules and Restrictions
The great thing about The Concept Trading is the fact that they place very few restrictions on your trading. Nevertheless, let’s take a brief look through the basics.
News trading is allowed with no restrictions.
All types of bots, expert advisors and other algo trading styles are allowed.
Overnight and Weekend Holding
Overnight and weekend holding are allowed across all programs.
Copy trading is allowed with this firm.
As mentioned, all trading styles are allowed across all programs.
Payments on the “Traditional” and “Premier” accounts will be paid out at every profit target – 10% or 7% respectively. The exception to this is when the trader has opted to lock into a certain level. From this point, you may request weekly payouts.
Challenge accounts will receive weekly payouts with no minimum payments!
There are numerous payment methods available including:
- Bank Transfer
The Concept Trading vs Other Prop Firms
Now let’s take a brief look at how The Concept Trading compares with its rivals. For this, we’ll look at two popular firms, My Forex Funds and FundedNext.
The Concept Trading vs My Forex Funds
My Forex Funds is a heavyweight player in the prop trading world. They a similar in the fact they offer multiple funding options.
For the sake of comparison, I’m going to compare the instant funding options; the “Premier” account and the “Accelerated” account.
|Premier (Concept)||Accelerated (My Forex Funds)|
|Max Drawdown||10% (Lv 1) / 5% (Lv 2+)||5%|
|Scale Amount||100%||75% (Average)|
The Concept Trading vs FundedNext
FundedNext is a popular choice with many traders. They offer the standard two-phase model and a single-phase model.
They have many differences with the concept of trading, let’s compare the one-phase models.
|Traditional (Concept)||Evaluation (FundedNext)|
|Scaling||50% increase for every 5% profit||40% increase every 4 months|
Thomas and the team have created an extensive trading course which is aimed to anyone looking to get into the industry or improve their knowledge. The Course covers a multitude of areas including:
- Understand the market principles
- Basic and advanced technical analysis
- Various tools such as indicators
- Fundamental analysis
- Risk management
- Specific strategies and more
The course is designed to be completed in around 60 hours of work and can be supplemented with 1 on 1 coaching (outlined below).
The course comes in two options: “Education only” or “Education + Support”. Prices start at $697.
This firm offers the opportunity to purchase 1 on 1 coaching sessions where they will be happy to help with a variety of issues.
For example, if you are struggling with a certain aspect of your trading plan, you can book a 30-minute consult to discuss it with their trained professionals.
Prices are $97 for a 30-minute session.
The Concept Trading is active across a number of social media channels. These include:
There are numerous ways to seek support. Such as:
- Email – Admin@theconcepttrading.com.au
- Telephone – +61 7 4599 3855
- Live Chat – At the corner of the website
- On Socials – See above.
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Overall, this firm has a lot to offer. The ability to scale rapidly and based on profit (without time restraints) is certainly a great deal for traders.
The educational resources available are top-notch and will benefit anyone who decides to take advantage of them. Coaching is also available which is rarely seen in the prop firm industry.
The lack of trading restrictions is a breath of fresh air in the industry when other firms are adding all kinds of complex and confusing rules.
All in all, this is a great firm to check out if you’re looking to boost your trading capital.
The Concept Trading – FAQ
- What Platforms Can I Use?
At the moment, all accounts will use MetaTrader 4 platform. MetaTrader 5 and CTrader are currently being worked on.
- What Leverage Do The Concept Trading Offer?
All accounts are provided with 1:200 leverage.
- What Instruments Can I Trade?
The following instruments are available:
FX Majors, FX Minors, FX Crosses, FX Exotics, Metals, Energy, Crypto, Indices, FX Index, Commodities.
- Which Broker Does The Concept Trading Use?
The broker they use is LCM-FX which is an STP broker
- How Many Accounts Can I Have?
You are allowed up to three accounts at any one time.