Traders Central Review (5% cashback)
3.5

Traders Central Review (5% cashback)

Traders Central offer their clients a chance to get funded up to $2,000,000 while also providing them with an option of a free trial. They can opt for a monthly subscription or a one-time fee plan.
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Traders Central is a platform with a goal to connect traders who lack capital to backers and funds willing to provide them with the required capital. Funding services that they provide are through several affiliates.

Pros
  • Free Trial
  • Instant funding, evaluation, and monthly subscriptions programs to choose from
  • Maximum capital up to $2,000,000
  • Payouts every 14th and 28th of the month
  • Overnight and weekend holding allowed
  • News trading allowed
  • A large variety of trading instruments (all forex pairs, commodities, indices, stocks, crypto)
Cons
  • Robot live chat support

Traders Central is searching for profitable and experienced traders who will strive with their funds’ help by showing skills in unpredictable market conditions. They connect traders and brokers to backers for funding trading accounts and allow them to earn high profits by managing account sizes up to $2,000,000 and taking home profit splits up to 85%. They can achieve this by trading Forex pairs, commodities, indices, stocks, and cryptocurrencies.

Who are Traders Cental?

Traders Cental is a proprietary firm that started operating successfully in January 2020. They are based in Vancouver, Canada, and offer undercapitalized traders capital up to $2,000,000 in balance and profit split up to 85%. They are partnered with TCBridge Cop as their broker.

Their headquarters are located at 1285 W Broadway Vancouver, V6H3XE.

Funding program options

Traders Central provides their clients with the following plans:

  • Monthly subscription plan
  • Instant funding plan
  • Evaluation challenge plan

Their monthly subscription plans are the following:

  • $12,500 account balance for $53.5
  • $25,000 account balance for $100.8
  • $50,000 account balance for $271.6

Monthly subscription plans have a withdrawal profit target of 5% with a profit split of 60% and a scaling profit target of 10%. You cannot surpass the 10% maximum drawdown limit while holding overnight and over the weekend is allowed. You are permitted to trade 4:1 leverage on $12,500 and $25,000 accounts, while on the $50,000 account, leverage of 3:1 is allowed.

You are eligible to grow your $50,000 account up to $1,000,000 in balance by hitting a profit target of 10% in four consecutive stages without hitting the 10% maximum drawdown limit. After finishing the fourth stage and acquiring a $1,000,000 account, you no longer have to pay a monthly subscription fee.

Scaling up procedure for monthly subscription accounts:

  • $50,000 + 10% = $55,000; growth to $100,000 ($105,000 net)
  • $100,000 ($105,000 net) + 10% = $110,000 ($115,000 net); growth to $200,000 ($215,000 net)
  • $200,000 ($215,000 net) + 10% = $220,000 ($235,000 net); growth to $1,000,000

Their instant funding plans are the following:

  • $2,000 account balance for $59.8
  • $5,000 account balance for $148.8
  • $10,000 account balance for $298.4
  • $25,000 account balance for $695.1
  • $50,000 account balance for $1,391.1

Instant funding plans have a withdrawal profit target of 0.5% with a profit split of 60% and a scaling profit target of 10%. You cannot surpass the 5% maximum drawdown limit while holding overnight and over the weekend is allowed. You are permitted to trade 50:1 leverage on all instant funding accounts.

You are eligible to grow your $25,000 and $50,000 accounts up to $1,000,000 in balance by hitting a profit target of 10% in five consecutive stages for the $25,000 account or four consecutive stages for the $50,000 account without hitting the 5% maximum drawdown limit. By hitting the 5% maximum drawdown limit, your account gets rolled back to the previous stage. (Example: When you scale up a $50,000 account to $100,000, then face a loss of $5,000, your account gets rolled back to $50,000)

Scaling up procedure for instant funding accounts:

  • $25,000 + 10% = $27,500; growth to $50,000
  • $50,000 + 10% = $55,000; growth to $100,000
  • $100,000 + 10% = $110,000; growth to $200,000
  • $200,000 + 10% = $220,000; growth to $400,000
  • $400,000 + 10% = $440,000; growth to $1,000,000

Evaluation challenge plans are the following:

  • $5,000 account balance for $37.8
  • $10,000 account balance for $53.5
  • $25,000 account balance for $100.8
  • $50,000 account balance for $178.7
  • $100,000 account balance for $300.7
  • $200,000 account balance for $499.1

Evaluation challenge plans consist of 2 stages:

Stage one requires a profit target of 8% with 30 maximum trading days and a minimum of 10 trading days. You cannot surpass a drawdown limit of 10% while trading with 200:1 leverage. There is also a rule that the traders have to choose from having a 50% positive days or 5% daily loss limit on their evaluation challenge accounts.

Stage two requires a profit target of 4% with 60 maximum trading days and a minimum of 10 trading days. You cannot surpass a drawdown limit of 10% while trading with 200:1 leverage. There is also a rule that the traders have to choose from having a 50% positive days or 5% daily loss limit rule on their evaluation challenge accounts.

After completing both evaluation challenge stages, you become funded and eligible for 85% profit splits. By having a funded $50,000, $100,000, or $200,000 account, you can also scale it up to $2,000,000, making you a Fund Manager. You can do so by hitting a profit target of 10% on any of the accounts mentioned above and requesting capital growth.

Scaling up procedure for funded evaluation challenge accounts:

  • $50,000 + 10% = $55,000; growth to $100,000
  • $100,000 + 10% = $110,000; growth to $200,000
  • $200,000 + 10% = $220,000; growth to $400,000
  • $400,000 + 10% = $440,000; growth to $1,000,000
  • $1,000,000 + 10% = $1,100,000; growth to $1,500,000
  • $1,500,000 + 10% = $1,650,000; growth to $2,000,000

You should also note that Traders Central has a risk desk team, meaning that they will analyze your challenge results where they determine if your trading is suitable.

You are allowed to trade on MetaTrader 5 or MetaTrader 4 upon making a request while also being allowed to trade during news, hold trades overnight, and during the weekends.

What makes Traders Cental different from other prop firms?

Traders Central is different from most industry-leading firms due to having an available option to choose from the monthly subscription, instant funding, and evaluation challenge plans.

Compared to other prop firms, Traders Central offers up to 200:1 leverage and relatively low-profit targets of 8% in stage 1 and 4% in stage 2. Comparing that to other firms with 2 Phase Evaluation Processes like FTMO, My Forex Funds, and True Forex Funds, you will be able to complete the challenge easier.

Each evaluation step from Traders Central evaluation accounts lasts a minimum of 10 trading days, precisely like FTMO who also has 10 minimum trading days for each phase. In comparison, My Forex Funds have a minimum of 5 trading days per stage.

Unlike most firms, Traders Central also offers accounts for a monthly subscription fee that every client that chooses that type of account is obliged to pay. 

Another significant difference is their last program option, which is instant funding, meaning that you can skip the evaluation processes and simply start trading with your funded account.

A huge difference is also that you can hold trades overnight, over the weekend, and during news releases.

In conclusion, many different strategies can acquire funding from Traders Central. Still, you must consider their rules. The fact that you can choose from a large variety of account programs makes it an excellent choice for anyone.

Is getting Traders Central capital realistic?

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

After considering all of that, Traders Central is an excellent choice to get funded with. This is since you can choose from three different program options: monthly subscription plan, instant funding plan, or evaluation challenge plan.

The rules for the Evaluation Process are realistic since the Profit Target for stage 1 is 8%, stage 2 is 4%, with a maximum drawdown of 10%. You should also consider the minimum of 10 trading days for each step, and a maximum trading period of 30 days for stage 1, while stage 2 has a maximum trading period of 60 days. You have to consider the 50% positive days or 5% daily loss limit rule, which you get to choose one or the other.

The rules for Instant funding are also realistic since the withdrawal target is 0.5%, with a maximum drawdown limit of 5%. The same applies to the Monthly subscriptions plan, which has a withdrawal target of 5% and a drawdown limit of 10%, making it realistic to succeed.

Weekend holding, overnight holding, and news trading are also allowed, which is excellent for Day Traders and Swing Traders looking for capital up to $2,000,000.

Payment proof

Traders Central was incorporated in January 2020. Their clients are eligible for payouts every 14th and 28th of the month by achieving specific withdrawal targets depending on the funding program.

You can see payment proof on the video below:

Another source of payment proof can be found on their website by clicking here.

You can see an example of payment proof that some of the clients shared:

Which broker does Traders Central use?

Traders Central is partnered and uses TCBridge Cop as their broker. After painful experiences with brokers back in 2020, they decided to become their own brokerage.

As for trading platforms, they allow you to trade on MetaTrader 5

Trading instruments

Their traders can trade all instuments that are listed on their MT5/MT4 trading platforms (forex pairs, commodities, indices, stocks, cryptocurrencies).

Education & Support for traders

Traders Central does not provide any educational content on its website.

You can also find a thread about Traders Central on Forex Factory. You can find a lot of information and discussions about the firm itself by reading the thread. Besides that, you can read comments about experiences from their clients.

Traders Central has also been mentioned numerous times on Forex Factory in another thread named ‘’PROP FIRM HUB’’ made by a user named Masterrmind. 

To see the mentioned thread click here.

Another great feature that they offer is their free trial, making it possible for their traders to test the programs and features they are providing.

Traders’ comments about Traders Central

Traders Central has excellent feedback from reviews.

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with an excellent score of 4.4/5 out of 624 reviews. 

A significant part of Traders Central community praises their low pricing compared to other firms they provide. Additionally, they also offer plenty of discounts.

Another thing their community praises is their support team, who are supposedly super responsive and helpful with anything you require. They will do their best to assist you in any way possible.

Social media statistics

Traders Central can also be found on social media.

They have a:

  • Instagram account with 5,582 followers,
  • Facebook page with 3,515 followers,
  • Twitter account with 649 followers
  • Youtube channel with 2,36k subscribers and 445 uploaded videos,
  • Telegram account with 10,750 subscribers.

Support

Traders Central has a FAQ page where you might find the missing information.

The support team is available on their social media, or you can directly contact them on their email help@traderscentralfund.com.

They also have 24/7 robot live chat for their clients to cover the basic information.

Conclusion

In conclusion, Traders Central is a legitimate prop firm offering you the chance to choose from three different programs: Monthly subscriptions plan, instant funding plan, and evaluation challenge plan. Monthly subscription accounts range from $12,500 to $50,000 in balance with scaling up to $1,000,000, instant funding accounts from $2,000 to $50,000 with scaling up to $1,000,000, and evaluation challenge accounts from $5,000 to $200,000 with scaling up to $2,000,000. You are rewarded with a profit split between 60% and 85%.

Comparing Traders Central to other firms with 2 Phase Evaluation Processes like FTMO, My Forex Funds, and True Forex Funds, the requirements of completing the evaluation are more accessible since you have to reach a profit target of 8% in stage one and 4% in stage two. You cannot surpass a maximum drawdown of 10%, and you are allowed to hold trades overnight, during the weekends, while also being able to trade news.

I would recommend Traders Central to anyone who has been reaching consistent results. They offer excellent conditions for a big pool of different trading styles for individuals looking to manage accounts up to $2,000,000.

This review about Traders Central was lastly updated on 20.05.2022 at 12:11 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does Traders Central have the instruments that you want to trade?

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4.0
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4.0
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2.0
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