This time, we’re going to go over a prop firm to review this time, and that firm is Prop Number One.
During its initial 6 months of operating in the industry, Prop Number One has already attracted traders from all around the globe with its innovative offerings and trader-focused programs. In this video, we’ll cover everything you need to know about Prop Number One, including its key features, the funding models they offer, and plenty more. Hopefully, this will help you make an informed decision on your trading journey.
With that said, let’s dive straight in and discover what Prop Number One has to offer and whether it might be the ideal choice for your trading journey.
Prop Number One Review Is Here!
Let’s get started! So, for those of you who may be unfamiliar with Prop Number One, it’s likely because they are fairly new to the industry. They are based out of Dubai, UAE. They’re quickly emerging as a significant player in the prop trading world, earning recognition for their transparency, trader-centric policies, and innovative funding solutions.
Now, the firm offers a single funding program with seven different account sizes, ensuring suitability for both beginners and experienced traders. We’re going to dive straight into that and take a look at what they offer to traders: the single two-step evaluation, with account sizes ranging from $7,000 up to $300,000 in funding capability.
Prop Number One Two-Step Challenge
Let’s jump straight into the two-step challenge.
Once again, Prop Number One offers account sizes from $7,000 to $300,000. The goal is to identify skilled traders who can generate consistent profits while effectively managing risk during a two-step process. Throughout this process, you can trade with leverage of up to 1:50, depending on the instrument.
- In the evaluation phases, traders need to achieve a 5% profit target in phase one without exceeding a 5% daily loss or a 10% overall loss. There are no minimum or maximum trading day requirements in the first phase—just hit the 5% profit target and stay within the daily and overall loss limits.
- In phase two, you have an 8% profit target. You must adhere to a 4% daily loss and an 8% overall loss limit. Just like phase one, there’s no maximum number of trading days, but you must have at least three profitable trading days to move on to a fully funded account.
Upon successfully completing both phases, you are awarded a funded account with no minimum withdrawal requirements. You must still comply with the 4% daily loss and 8% overall loss limit rules, which are standard and achievable in the industry. The first payout is available 21 calendar days after placing the first trade on the funded account, with subsequent withdrawals allowed every 21 calendar days. Traders will receive 100% of the profits generated on the funded account, with the opportunity to qualify for a monthly salary.
What are the notable aspects of Prop Number One?
Another notable aspect of Prop Number One is its monthly salary for top-performing traders, provided they meet specific performance criteria. After achieving funded status, traders must consistently generate at least 3% profit on their account for two consecutive months to qualify. Once qualified, they receive a salary in any month where they achieve at least 3% profit. The salary amount is based on 1% of the account size, meaning a $7,000 account would earn $70, while a $300,000 account would earn $3,000 in monthly salary.
And that is not all. You can watch the Prop Number One Review in the Video:
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