Take Profit Trader 2024 Review: All to know

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Take Profit Trader (TPT) is a U.S.-based prop firm founded in 2021 and led by CEO James Sixsmith. The firm is committed to providing traders with access to funded accounts through a straightforward evaluation process. At Trading Funder, we understand how crucial it is for traders to find a prop firm that aligns with their goals, and we offer expert guidance to help you navigate TPT’s offerings.

TPT has garnered over 1,100 reviews on Trustpilot, earning an impressive 4.3-star rating. Traders particularly value the firm’s quick evaluation process, fair rules, high-profit sharing, responsive support, fast payouts, and flexible account options. However, some criticisms include limited trading options and higher costs associated with professional classification. Our Trading Funder team can help you weigh these pros and cons, ensuring you make an informed decision.

TPT offers account sizes ranging from $25,000 to $150,000, with traders receiving their login details via email. Supported trading platforms include NinjaTrader, TradingView, and Tradovate, which cater to various trading styles and preferences. If you’re unsure which platform best suits your needs, our consultants at Trading Funder can provide tailored advice.

During the evaluation phase, TPT enforces six core rules: Hit Your Profit Target, Do Not Exceed Maximum Position Size, Do Not Hit Daily Loss Limit, Do Not Hit End-Of-Day (EOD) Maximum Trailing Drawdown, Trade Approved Products During Approved Hours, and Be Consistent. These rules are crucial for traders to pass the evaluation, and our team can offer insights and strategies to help you meet these objectives successfully.

This article will thoroughly review Take Profit Trader, providing essential details for day traders. Our Trading Funder experts will answer common questions and offer valuable guidance on starting an evaluation with TPT, helping you make the most of your trading journey.

What is a Take Profit Trader?

Take Profit Trader (TPT) is a proprietary trading firm that allows traders to trade using the firm’s capital. Founded by James Sixsmith, TPT is based in the United States and focuses on futures trading. The firm evaluates traders through a structured test, where they must meet specific profit targets and adhere to risk management rules to qualify for a funded account.

A prop trading firm, such as Take Profit Trader, trades financial assets using its own capital rather than client money. Unlike investment firms, its primary goal is to achieve direct market profits.

who is Take Profit Trader’s founder?

Take Profit Trader (TPT) was founded by James Sixsmith, a former professional hockey player who transitioned into trading. After facing significant initial losses, Sixsmith founded TPT to provide traders with a platform emphasizing free quality education, straightforward access to trading funding, and exceptional customer service. His vision is rooted in transparency and a trader-centric approach. On LinkedIn, Sixsmith’s profile outlines his journey from sports to trading and his commitment to creating an empowering trading environment through TPT.

What makes Take Profit Trader Legit?

Take Profit Trader (TPT) is a legitimate prop trading firm with several factors supporting its credibility. It has garnered over 1,100 reviews on Trustpilot with a strong average rating of 4.3 out of 5 stars, frequently praised for its efficient payout system, high customer support, and transparent business practices​. One standout feature is the prompt payout system, allowing traders to withdraw profits quickly, often on the same day, highlighting the firm’s reliability in handling trader earnings​. TPT offers extensive free educational resources, including articles, video tutorials, and webinars, demonstrating its commitment to trader education and fostering a strong community for sharing experiences and support​. The firm operates with clear and straightforward rules, particularly regarding trading evaluations and account management, and emphasizes transparency in its profit-sharing model, favoring traders with an 80/20 split​. Known for its responsive and helpful customer service and being available via live chat, TPT reinforces its positive user experience and legitimacy. While TPT is not directly regulated, it uses regulated brokers and CME-approved data providers to ensure trades are handled securely and in compliance with industry standards​.

Despite these positives, some criticisms include the desire for a shorter test period and occasional negative reviews about customer service response times, although these are generally resolved promptly​. These factors collectively illustrate that Take Profit Trader is a credible and reliable prop trading firm dedicated to the success and satisfaction of its traders.

Does Makes Take Profit Trader send payouts to its traders?

ake Profit Trader (TPT) ensures reliable and fast payouts for its traders through several mechanisms. The firm offers three primary payout options: Plaid for automated payouts to U.S. bank accounts, PayPal, and Wise for international transfers. Once a payout request is submitted, it is typically approved within 12 business hours.

Does Take Profit Trader provide a comprehensive FAQ section?

Yes, Take Profit Trader provides a comprehensive FAQ section that is accessible on their Zendesk help center. This section covers account management, trading rules, payout and withdrawal processes, support services, and educational resources, ensuring traders have access to all necessary information to navigate the platform effectively and address any issues that might arise​.

Does Take Profit Trader have good User Reviews and Testimonials?

Yes, Take Profit Trader has excellent user reviews and testimonials. It holds an impressive average rating of 4.3 out of 5 stars on Trustpilot, with 77% of reviews being 5-star ratings. Users frequently praise the firm for its exceptional customer service, fast payouts, and straightforward trading rules. The company is noted for its proactive approach to addressing issues, further enhancing its credibility.

Does Take Profit Trader have good Customer Support?

Yes, Take Profit Trader is highly praised for its customer support. The firm offers responsive and helpful service, typically available through live chat from 6 AM to 4:30 PM EST, Monday to Friday. Users have noted the quick response times and effective assistance with various issues.

what are Take Profit Trader’s advantages?

Take Profit Trader (TPT) offers eight advantages. Here is a list of TPT’s advantages:

1. Fast Payouts: Traders can withdraw profits quickly, often on the same day, ensuring immediate access to earnings.
2. Comprehensive Support: TPT provides 24/7 customer service, ensuring traders can access real human interaction whenever needed.
3. Clear Rules and Transparency: The firm has straightforward trading rules and a transparent profit-sharing model with an 80/20 split for standard accounts and 90/10 for PRO+ accounts.
4. Educational Resources: Extensive free educational materials, including articles, videos, and webinars, help traders improve their skills.
5. User-Friendly Interface: The platform features an intuitive design that makes it easy to navigate and use.
6. Multiple Trading Platforms: Access to a wide range of trading platforms like TradingView and NinjaTrader.
7. Financial Flexibility: The firm offers flexible funding options and risk management support, providing traders with financial stability and the ability to manage risks effectively.
8. No Scaling Plan: Traders can trade the maximum contract size in their accounts without a scaling plan.

what are Take Profit Trader’s disadvantages?

Take Profit Trader has sex disadvantages. Here is a list of TPT’s disadvantages:

1. High Monthly Fees: The subscription fees for evaluation accounts can be relatively high, ranging from $150 to $360 per month, depending on the account size​​.
2. Strict Trading Rules: TPT enforces stringent rules such as daily loss limits, maximum position sizes, and prohibitions on trading during major news events, which can be restrictive for some traders​.
3. No Automated Trading: TPT does not allow automated trading bots​.
4. Limited Asset Classes: Currently, TPT focuses solely on futures trading and does not support other asset classes like stocks or forex​.
5. No Free Trial: There is no free trial available, although TPT offers discount codes to lower the cost of initial evaluations​.
6. Trading Restrictions: All positions must be closed before the market closes each day, and holding trades over the weekend is not allowed.

What is Take Profit Trader’s Pricing?

Take Profit Trader’s pricing varies from $150 to $360, depending on the chosen account size. The table below lists the fees for each account size:

Account Size	Price
$25K	$150
$50K	$170
$75K	$245
$100K	$330
$150K	$360

These prices cover the monthly subscription fees for evaluation accounts. Additionally, there is a one-time setup fee of $130 for PRO accounts, with no recurring monthly charges thereafter

Does Take Profit Trader offer price discounts?

Yes, Take Profit Trader grants discounts on its prices, ranging from 20% to 80%, including a 40% sale option. To receive these discounts, traders should use this Take Profit Trader discount link and enter coupon code: TFMAX. This coupon code offers a 40% sale, but it also automatically reflects the most recent discount available upon use. Take Profit Trader applied the discount instantly upon purchasing the evaluation.

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Does Take Profit Trader allow multiple accounts?

Yes, Take Profit Trader allows multiple accounts. Traders can have an unlimited number of test accounts and trade them simultaneously. You can simultaneously maintain up to three active PRO or PRO+ accounts for funded accounts. This could be a combination of two PRO accounts and one PRO+ account or vice versa. However, the limit applies to the total number of accounts, not three in each category.

How does Take Profit Trader work?

Take Profit Trader’s procedure consists of several steps, ensuring a streamlined process for traders:

1. Sign Up: Create an account on the Take Profit Trader website.
2. Select an Evaluation Account: Choose the account size that aligns with your trading preferences from the available options (e.g., $25K, $50K, $75K, $100K, $150K).
3. Purchase the Evaluation Account: Complete the purchase using the available payment options.
4. Wait for Account Activation: Your account will be activated after purchase, usually within a short period.
5. Begin Trading: Start trading once your account is activated, adhering to the specified rules and guidelines.
6. Follow the Rules: Adhere to maximum position size, daily loss limits, and end-of-day drawdown limits to ensure consistency in trading performance.
7. Monitor Performance: Regularly evaluate your trading performance based on the program’s criteria.
8. Meet Performance Standards: You will qualify for a funded account upon meeting the required profit targets and following all trading rules.
9. Trade on a Funded Account: Start trading on the funded PRO or PRO+ account.
10. Request Withdrawals: Once you start generating profits on your funded account, you can request withdrawals through the available methods such as Plaid, PayPal, or Wise

Does Take Profit Trader’s Dashboard provide live data?

Take Profit Trader’s dashboard, referred to as “The Control Center,” does not provide live data updates. The account balances and other metrics are updated at the end of each trading day, around 8 PM Eastern Time. This means traders will see updated account status, compliance with trading rules, and performance graphs after the daily update.

What are Take Profit Trader’s Rules and Objectives?

The trading rules and objectives of Take Profit Trader include the following six key points:

1. Hit Your Profit Target: Traders must achieve a specific profit target, which varies by account size. For instance, a $50,000 account has a profit target of $3,000​​.
2. Do Not Exceed Maximum Position Size: This rule limits the number of contracts a trader can hold at any given time. For example, a $25,000 account can hold up to 3 contracts, while a $150,000 account can hold up to 15 contracts​​.
3. Do Not Hit Daily Loss Limit: Traders must not exceed the daily loss limit, which varies by account size. For a $50,000 account, the daily loss limit is $1,100​​.
4. Do Not Hit End-Of-Day (EOD) Maximum Trailing Drawdown: This rule requires traders to maintain their end-of-day balance above a certain threshold, which varies by account size. For instance, a $50,000 account has an EOD trailing drawdown of $2,000​​.
5. Trade Approved Products During Approved Hours: Traders can only trade specified futures products within designated trading hours, typically from 6 PM to 5 PM Eastern Time. Holding positions overnight or during restricted news times is prohibited​​.
6. Be Consistent: Traders must demonstrate consistency by ensuring no single day’s profit exceeds 50% of their total profits and by trading over at least five days​​.

Take Profit Trader’s trading rules and objectives ensure traders can manage risk effectively and demonstrate consistent profitability before receiving funded accounts.

The table below shows the drawdown value, contract size, and profit target for each account size at Take Profit Trader:

Account Size (Eval)	Maximum Trailing Drawdown	Maximum Position Size	Profit Target
$25,000	$1,500	3 contracts (30 micros)	$1,500 (6%)
$50,000	$2,000	6 contracts (60 micros)	$3,000 (6%)
$75,000	$2,500	9 contracts (90 micros)	$4,500 (6%)
$100,000	$3,000	12 contracts (120 micros)	$6,000 (6%)
$150,000	$4,500	15 contracts (150 micros)	$9,000 (6%)

Take Profit Trader uses which trading platforms?

Take Profit Trader supports several trading platforms, including NinjaTrader, TradingView, Tradovate, RTrader Pro, Quantower, and MotiveWave. These platforms cater to different trading preferences and offer traders various tools and interfaces. Some platforms are available for free, such as TradingView, Tradovate, NinjaTrader, RTrader, and Quantower, while others, like Agena Trader, Bookmap, Order Flow Trading, ESignal, Investor RT, MotiveWave, Jigsaw Trader, MultiCharts, Photon Trader, Trade Navigator, Q Scalp, and Volfix require a paid license​​​​.

How can I open RTrader Pro and NinjaTrader at the same time and ensure they both receive market data?

Follow these step-by-step instructions:

1. Open RTrader Pro:
   • Launch the RTrader Pro application.
   • On the login window, enable “Allow Plugins”.
2. Login to RTrader Pro:
   • Enter your credentials and log in.
   • Wait until RTrader Pro has fully opened and connected.
3. Open NinjaTrader:
   • Launch the NinjaTrader application.
4. Configure NinjaTrader Connection:
   • Go to “Connections” and select “Configure”.
   • Find and select your existing connection (or set one up if you haven’t already by following the provided instructions).
   • Check the box for “Plug-in mode for market data”.
   • Click “Apply” and then “OK”.
5. Connect Both Platforms:
   • Select your configured connection in NinjaTrader.
   • Ensure both RTrader Pro and NinjaTrader are now connected.

Following these steps will allow you to monitor your P&L, commissions, and positions and manage your orders in real-time in both RTrader Pro and NinjaTrader.

Does Take Profit Trader allow trade copiers?

Yes, Take Profit Trader allows the use of trade copiers. Traders can manage multiple accounts by mirroring trades from master accounts to follower accounts, ensuring uniform trading actions across portfolios. However, it’s important to note that the “group trade” feature in Tradovate, which allows copy trading, cannot be used when trading CQG accounts through TradingView.

Conclusion about Take Profit Trader

Take Profit Trader (TPT) is a solid option for traders seeking a straightforward evaluation process and fast payouts. With multiple account types, clear trading rules, and a user-friendly platform, TPT caters well to futures traders. While its 4.3-star Trustpilot rating highlights strong customer support and fast withdrawals, some traders may find the higher costs and limited asset options less appealing. Our Trading Funder team can help you weigh these factors, ensuring you choose the right prop firm and maximize your trading potential with TPT’s offerings.

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