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Elite Trader Funding, founded by Clint Chaney, Kanwal Singh, and Eric in 2022, is a Delaware-based proprietary trading firm that has quickly garnered attention in the trading community. With the legitimacy of the firm being confirmed by over 230 day traders on Trustpilot, Elite Trader Funding stands out for offering access to up to 20 trading accounts, along with responsive customer service—a key aspect we at Trading Funder always prioritize in our evaluations.
Elite Trader Funding is particularly appealing to traders due to its favorable profit split, monthly sales and discounts, and the allowance for trading during holidays and news events. However, our Trading Funder team advises that traders should be mindful of the firm’s restrictions, such as the prohibition of trading during market close and the enforcement of a strict trailing drawdown, which could impact trading strategies.
The firm offers a variety of account options to suit different trading styles. These include eight sizes for One Step Evaluations, three for Fast Track Evaluations, six for End of Day Drawdown Evaluations, two for Static Drawdown Evaluations, and one for Diamond Hands Evaluations, with prices varying accordingly. Once an account is purchased, traders receive their login details via email and can begin trading on platforms like Tradovate or NinjaTrader—a convenience we often recommend when helping our clients choose the right prop firm.
Elite Trader Funding enforces six main rules during the evaluation process, although not all apply to every account option. These rules include a maximum drawdown, a consistency rule, and a limit on trading days. Additionally, traders must reach specific profit targets and use designated trading instruments within specific trading hours, which our Trading Funder consulting has found to be crucial for successfully navigating their evaluations.
This article offers an in-depth review of Elite Trader Funding, providing essential information for day traders. Through our analysis, Trading Funder aims to guide traders in starting their evaluation with Elite Trader Funding, ensuring they make informed choices that align with their trading goals.
what is Elite Trader Funding?
Elite Trader Funding is a prop trading firm established in Delaware, USA by Clint Chaney, Kanwal Singh, and Eric in 2022. Elite Trader Funding offers futures traders access to funded trading accounts upon passing a trading evaluation.
A prop trading firm is a company that trades financial assets using its own capital, not client money. Unlike investment firms, their main goal is direct market profits. Prop trading firms typically employ professional traders who use a variety of strategies to try to generate profits for the firm. Traders are rewarded based on their performance.
who are Elite Trader Funding’s founders?
Elite Trader Funding’s founders are Clint Chaney, Kanwal Singh, and Eric.
Clint Chaney: A web development expert with 20 years of experience, he transitioned into futures trading and co-founded the firm alongside Eric.
Kanwal Singh: With a background in network and security infrastructure, his interest in trading patterns on charts led him to join forces with Eric and Clint in establishing Elite Trader Funding.
Eric: Works in the oil and gas industry and has an extensive background in finance, which influenced the creation of Elite Trader Funding.
What makes Elite Trader Funding Legit?
Elite Trader Funding is considered legit due to the responsiveness and helpfulness of the customer service team, quick and fair payouts, and revealing its real founders’ identity to the community. The company boasts a 4.5-star rating on Trustpilot from over 230 reviews. Traders like Elite Trader Funding’s fast payouts and for having the possibility to open multiple accounts. All this information indicates that users generally view the company as trustworthy not a scam.
Some criticisms found that Elite Trade Funding requires hidden fees. Others noted issues with Trading View integration and when using Tradovate.
Does Elite Trader Funding send payouts to its traders?
Yes, Elite Trader Funding sends payouts to its traders using ACH for US traders, and Wise, Stripe and PayPal for others. Traders can withdraw their profits after 15 trading days, subject to withdrawal limits based on their account size and payout cycle (e.g., 1st cycle for a $10,000 account is $1,000), with a minimum withdrawal of $100.
Does Elite Trader Funding provide a comprehensive FAQ section?
While Elite Trader Funding offers an FAQ section that addresses many common questions related to its trading programs, policies, and procedures, it may not cover all specific inquiries or detailed scenarios traders might encounter. For questions not fully addressed in the FAQ, traders must contact customer support.
Does Elite Trader Funding have good User Reviews and Testimonials?
Yes, Elite Trader Funding has garnered favorable testimonials from its clientele. On Trustpilot, Elite Trader Funding has a rating of 4.5 out of 5 stars, based on over 230 reviews. 84% of these reviews are 5-star ratings. But about 10% of reviews claim that Elite Trader Funding is a scam and isn’t worth trying.
Does Elite Trader Funding have good Customer Support?
Yes, Elite Trader Funding has a responsive customer service. According to user reviews, the company’s customer support team is helpful and responsive. They are available via email and a FAQ section.
what are Elite Trader Funding’s advantages?
Elite Trader Funding has 5 advantages. Here is a list of Elite Trader Funding’s advantages:
- Free Trial: Elite Trader Funding provides a 14-day trial, a 250K Fast Track account on Ninjatrader only.
- Flexible options: Elite Trader Funding has 5 options for traders with 20 account sizes.
- Multiple Accounts: Elite Trader Funding allows traders to have up to 20 trading accounts.
- Attractive Payouts: Elite Trader Funding offers 100% of the first $12,500 earned and then 90% of any amount afterward.
- Free license to NinjaTrader Platform: Elite Trader Funding’s Traders use NinjaTrader for free.
what are Elite Trader Funding’s disadvantages?
Elite Trader Funding has 4 disadvantages. Here is a list of Elite Trader Funding’s disadvantages:
- Mandatory Safety Net: Elite Trader Funding mandates a Safety Net before making withdrawals.
- Prohibited overnight trades: Traders are not allowed to hold overnight trades
- Absence of education center: Elite Trader Funding doesn’t provide education resources.
- Lack of learning community: Traders can’t communicate and learn from each other.
- Necessity to follow a consistency rule: Elite Trader Funding does impose a consistency rule for funded accounts.
What are Elite Trader Funding’s pricing tiers?
Elite Trader Funding pricing varies from $45 to $745 depending on the chosen option and account size. The table below lists the fees for each account size in each option:
| Option | Account size (Eval) | Price |
|---|---|---|
| Fast Track Evaluations | $25K | $45 |
| Fast Track Evaluations | $100K | $75 |
| Fast Track Evaluations | $250K | $150 |
| 1 Step Evaluations | $10K | $80 |
| 1 Step Evaluations | $25K | $145 |
| 1 Step Evaluations | $50K | $165 |
| 1 Step Evaluations | $75K | $185 |
| 1 Step Evaluations | $100K | $205 |
| 1 Step Evaluations | $150K | $295 |
| 1 Step Evaluations | $250K | $515 |
| 1 Step Evaluations | $300K | $655 |
| End of Day Drawdown Evaluations | $25K | $275 |
| End of Day Drawdown Evaluations | $50K | $295 |
| End of Day Drawdown Evaluations | $75K | $365 |
| End of Day Drawdown Evaluations | $100K | $430 |
| End of Day Drawdown Evaluations | $150K | $605 |
| End of Day Drawdown Evaluations | $250K | $745 |
| Static Drawdown Evaluations | $100K | $135 |
| Static Drawdown Evaluations | $150K | $300 |
| Diamond Hands Evaluations | $100K | $365 |
Does Elite Trader Funding offer price discounts?
Yes, Elite Trader Funding grants discounts on their prices, ranging from 10% off to 70% off. To receive these discounts, traders should use this Elite Trader Funding discount link and check for the latest coupon codes available. There is always a 10% discount available with the coupon code: 10OFF. Elite Trader Funding applied the discount instantly upon purchasing the evaluation.
Does Elite Trader Funding allow multiple accounts?
Yes, Elite Trader Funding allows up to 20 trading accounts. Day traders can trade 20 Elite Trader Funding accounts at the same time.
How does Elite Trader Funding work?
Elite Trader Funding’s procedure consists of 10 steps, the trader ensures the system works correctly by following these 10 steps below:
- Sign up by creating an account on their website.
- Select the evaluation account that best suits your preferences.
- Purchase your selected product using Stripe on their site.
- Wait for account activation.
- Start trading once activated.
- Follow rules like maximum drawdown and other trading guidelines.
- Evaluate your trading performance based on the program’s criteria.
- Receive trading capital once you meet the performance standards.
- Trade on the funded trading account.
- Request withdrawals or payouts based on your profits.
Does Elite Trader Funding’s Dashboard provide live data?
No, Elite Trader Funding’s Dashboard doesn’t provide live data on trading account balances.
What are Elite Trader Funding Rules?
The rules at Elite Trader Funding differ depending on the evaluation option chosen. The rules are listed below according to each option:
- Fast Track Evaluations: Don’t hit the trailing drawdown, avoid trading during non-approved hours, don’t trade non-allowed instruments, and hit the profit target in less than 15 calendar days.
- 1-Step Evaluations: Don’t hit the trailing drawdown, avoid trading during non-approved hours, and don’t trade non-allowed instruments.
- End-of-Day Drawdown Evaluations: Don’t hit the EOD drawdown, don’t hit the daily drawdown, avoid trading during non-approved hours, and don’t trade non-allowed instruments.
- Static Drawdown Evaluations: Don’t hit the static drawdown, avoid trading during non-approved hours, and don’t trade non-allowed instruments.
- Diamond Hands Evaluations: Don’t hit the trailing drawdown, don’t hit the daily drawdown, avoid trading during non-approved hours, and don’t trade non-allowed instruments.
Elite Trader Funding’s evaluation rules are designed to assess a trader’s ability to manage risk and execute profitable trades under various conditions.
Traders are also requested to meet the 3 trading objectives listed below:
- Trade minimum 5 trading days.
- Reach the profit target.
- Follow the consistency rule; no day greater than 40% of your total profits.
The table below shows the trailing drawdown value and the contract size of every account size:
| Evaluation Option | Account size | The Drawdown | Contract Size |
|---|---|---|---|
| Fast Track | $25K | $750 | 2 minis (20 micros) |
| Fast Track | $100K | $3000 | 14 minis (140 micros) |
| Fast Track | $250K | $6500 | 24 minis (240 micros) |
| 1 Step | $10K | $1000 | 1 minis (10 micros) |
| 1 Step | $25K | $1500 | 3 minis (30 micros) |
| 1 Step | $50K | $2000 | 8 minis (80 micros) |
| 1 Step | $75K | $2500 | 10 minis (100 micros) |
| 1 Step | $100K | $3000 | 14 minis (140 micros) |
| 1 Step | $150K | $5000 | 18 minis (180 micros) |
| 1 Step | $250K | $6500 | 24 minis (240 micros) |
| 1 Step | $300K | $7500 | 30 minis (300 micros) |
| End of Day Drawdown | $25K | $1500 | 3 minis (30 micros) |
| End of Day Drawdown | $50K | $2000 | 8 minis (80 micros) |
| End of Day Drawdown | $75K | $2750 | 10 minis (100 micros) |
| End of Day Drawdown | $100K | $3500 | 14 minis (140 micros) |
| End of Day Drawdown | $150K | $4500 | 18 minis (180 micros) |
| End of Day Drawdown | $250K | $7000 | 24 minis (240 micros) |
| Static Drawdown | $100K | $625 | 2 minis (20 micros) |
| Static Drawdown | $150K | $1250 | 4 minis (40 micros) |
| Diamond Hands | $100K | $3500 | 2 minis (20 micros) |
How does Elite Trader Funding’s Trailing Maximum Drawdown work?
Elite Trader Funding’s Trailing Maximum Drawdown is a dynamic mechanism that adjusts intratrades and intraday, acting as a moving stop loss for the account. Unlike end-of-day calculations, as profits rise, the drawdown threshold moves up in real-time but remains static during losses. If an account balance falls to this threshold, the account is terminated.
How does Elite Trader Funding’s EOD Drawdown work?
Elite Trader Funding’s EOD (End Of Day) Drawdown evaluates a trader’s account balance at day’s end. Unlike real-time adjustments, it checks if the balance falls below a set limit only at day’s close. If it does, the account may be terminated. This approach permits intra-day fluctuations but requires a day-end balance above the threshold.
What are Elite Trader Funding’s Trading Hours?
All positions with Elite Trader Funding must be closed 1 minute before the market closes. For example, ES trades should end by 3:59 pm Central Standard Time and can resume at 5 pm. Overnight trades aren’t allowed. Different instruments have distinct closing times, and traders need to be aware, especially during holidays. Non-compliance can lead to evaluation failure, Elite account termination, and loss of profits.
What are Elite Trader Funding’s Instruments?
Elite Trader Funding’s Instruments are listed below:
- Equity Futures: 11 types (Including E-mini S&P 500, NASDAQ 100, Russell 2000, and others).
- Currency Futures: 9 types (Covering major currencies like AUD, GBP, EUR, JPY, and more).
- Interest Rate Futures: 14 variants (Spanning 10-Year, 2-Year, 30-Year, 5-Year yields, and others).
- Energy Futures: 7 varieties (Including Crude Oil, Natural Gas, Heating Oil).
- Metal Futures: 5 versions (Gold, Silver, Copper, Palladium, Platinum).
- Cryptocurrency Futures: 4 types (Bitcoin and Ethereum with their micro variants).
- Agricultural Futures: 12 forms (Covering Corn, Soybean, Wheat, Cattle, and others).
Elite Trader Funding uses which trading platforms?
Elite Trader Funding uses the 31 trading platforms listed below:
- NinjaTrader
- Tradovate
- Rithmic
- TradingView
- Jigsaw
- AMPMC.NET
- ATAndromeda
- ATAS
- TBase
- Bookmap
- EdgeProX
- eSignal
- Finamark
- InsideEdge Trader
- Investor/RT
- MotiveWave
- MultiCharts
- OmneWebSocketServer
- OptimusFlow
- OverCharts
- PhotonTrader
- QScalp
- Quantower
- SC_DTCBridge_API+
- Sierra Chart
- TA Trader
- TigerTrade
- Trade Navigator
- TradeWatcher
- VolFix
- Volumetrica
How To Set Up Tradovate for Elite Trader Funding?
To Set Up Tradovate for Elite Trader Funding, traders must follow the following 10 steps to trade using Tradovate:
- Navigate to Tradovate’s web platform using the provided URL.
- Log in using your Tradovate credentials.
- Copy-paste username and password for accuracy, as they’re case-sensitive.
- Use incognito mode if the non-professional data agreement isn’t visible.
- Complete the data agreement with your name and today’s date (MM-DD-YYYY).
- Click “Agree.”
- Check the dashboard’s connection guide for useful Tradovate links.
- Accept Tradovate’s terms on the next page.
- Access the trading platform by selecting “Simulation Environment.”
- Wait up to 5 minutes if a market data error appears. Refresh or re-login as needed.
How To Set Up Rithmic with NinjaTrader for Elite Trader Funding?
To Set Up Rithmic with NinjaTrader for Elite Trader Funding, traders must follow the following 13 steps:
- Download R|Trader Pro using the dashboard link.
- Log in using your provided credentials.
- Accept the three agreements presented.
- Select your status: “Non-Professional” or “Professional”.
- Deactivate Rithmic data if using another platform alongside.
- Register for a NinjaTrader license via email confirmation.
- Import the NinjaTrader license key.
- Install and start NinjaTrader.
- Enter NinjaTrader credentials.
- Access “Connections” in NinjaTrader. If missing “Configure”, activate “Multi-Provider”.
- Add brokerage details in “Rithmic Paper Trading Chicago”.
- Connect your NinjaTrader account.
- Check the connection status (green light = connected).
Does Elite Trader Funding allow trade copiers?
Yes, Elite Trader Funding allows trade copiers, known as group trading via Tradovate. However, they’ve noted potential issues with this feature and advise users to close positions individually if problems arise. Elite Trader Funding isn’t liable for errors from this add-on.
Conclusion on Elite Trader Funding
Elite Trader Funding offers a variety of flexible trading options, making it an attractive choice for futures traders. With up to 20 accounts, competitive profit splits, and the ability to trade during holidays and news events, it caters to diverse trading strategies. However, traders should be mindful of the trailing drawdown and the prohibition of overnight trading. Based on our Trading Funder review, Elite Trader Funding stands out for its responsiveness, fast payouts, and wide range of account types, though it lacks an educational center and a learning community.
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