The following post was authored by Michael Buchbinder, a member of Prop Traders Club, as well as the co-founder of Tradiac and a partner at Scandinavian Markets.
Funded Trader Account vs Live Trading Accounts
We are seeing a phenomenon take place in the funded trader prop trading space. And it should be obvious that the future of trading is already upon us. I’ll explain in this article how to overcome one of the biggest challenges in trading for traders. Accessing more capital and why it makes sense to use a funded trader firm for your trading needs. I’m Michael Buchbinder, partner of Scandinavian Capital Markets and co-founder of Tradiac, and I will be sharing some inside knowledge with you in a series of articles.
The biggest problem for traders is accessing more capital to trade. You’ve spent years trading and perfecting your strategy. Lots of blood sweat and tears learning hard-earned lessons. You have reached consistent profitability. Now all you need is more capital so you can start making some serious money in the markets.
Do you have connections to the banks or rich investors?
Do you have rich parents or family members to spot you? (Do not take money from friends and family. In the event you lose it, it is a tough conversation to have. Trust me, I’ve been there and it took me years to recover and repay my debt and restore my integrity.)
Take out a loan?
Max out your credit card?
It could take years of trading your small account and building it up.
Unfortunately, not all of us have rich daddies.
Tradiac’s Funded Program Solution
If you have talent and some cash you can purchase an assessment. Some programs have 2 phases you need to get through. Tradiac just has one phase. With just under $500 you can access over $50,000 in trading capital via a funded account.
20% on $500 is $100. But 20% on $50,000 is $10,000. Now we are talking about some serious numbers. The best part of it is you get to keep 90% of it with Tradiac on any programs that you choose. No add-ons you need to purchase. It is already in the price.
Once you’ve decided that a funded trader program is right for you. Here is what you can expect.
1) Sign up for the program that is right for you and complete payment.
2) Receive your login and password to your assessment account in your dashboard.
3) Hit your profit target.
4) Complete your identity verification.
5) Get your funded account.
6) Take out your profits.
In the next article, I’ll show you the risk:reward of risking your capital in the markets vs. a funded trader program.