Elite Trader Funding Review: Facts That Don’t Add Up Here
Elite Trader Funding LLC appears to be registered in Delaware, United States. According to who.is, they have been active since 2021. Yet, they are trying hard to build their credibility like any investment firm nowadays.
However, the EliteTraderFunding went on the other way. Instead of regular investing, they opted for proprietary trading. This way, they are collecting profits without any risk. To find out more, read our Elite Trader Funding review.
|Elite Trader Funding LLC
|Financial Authorities Warnings
|No official warnings
|Web contact form
|If a withdrawal is possible
|Potential issues expected
|From $80 per month
|If Active on Social Media:
|Yes – Twitter, Discord, YouTube, Facebook
|United States, Canada, United Kingdom, India, France
|Too many negative reviews; poor customer support;
Legal Information: Is The Elite Trader Funding Legit?
As it seems, the company has been operating from the United States. If they were investing any real money, they would need a CFTC or NFA license. Yet, they only provide hypothetical trading features.
Therefore, the license is not necessary. But that’s exactly where the catch is. This way, none of the authorities monitor the activities, which is a huge problem.
Traders’ Reviews – Reliable or Not?
The way the company attracts new clients is through numerous Elite Trader Funding discount offers. However, even with their fairly cheap service, there are some irregularities. In the first place, we can already see 10% of negative reviews about this company. Considering 165 total comments, that’s quite a big number.
In addition to that, there are a few speculations on the Elite Trader Funding Reddit section. Once you consider all these facts, you realize what the potential problems could be. Mainly, traders were reporting issues with unexpected drawdowns and account closing. Therefore, you are forced to pay the fee again.
How Does Elite Trader Funding Work?
In general, proprietary firms are designed in a way that minimizes risk. Clients are paying monthly fees to get a funded account. Since it doesn’t make sense to get $25k for $80, they give you virtual funds. If a customer doesn’t pass the test, they can reset the account or pay a fee for a different program. Of course, without regulations, you can expect a wide range of manipulations there.
Nevertheless, once a trader passes the evaluation, they should be funded with real funds. Of course, that’s also speculative, considering the lack of regulations and risks involved. Anyway, traders should get up to 90% of the profits gained from that program.
What Trading Software Can I Use?
One of the huge disadvantages is that traders are not allowed to use MetaTrader or cTrader. Instead, the company recommends Ninja Trader, Elite Trader Funding TradingView, and Rithmic. Not to mention, all these choices are only available as web-based platforms.
Also, none of these offer Experts Advisor features, unlike MetaTrader. These automated algorithms analyze predefined parameters and trade on traders’ behalf.
Pricing Plans and Elite Trader Funding Promo Code Discount
Most importantly, traders can get generous offers and general promotions through the affiliate program. Even though the program fees might not appear hefty, they can add up really quickly. Keep in mind also that many programs include auto-renewals.
Besides a free 14-day trial account on Fast Track account with $250k funded, you can also choose:
- 1-step evaluation – $80 – $655 per month
- EOD Drawdown – $275 – $745 per month
- Fast Track – $45 – $150 one-off payment
- Static – $135 / $300 per month
- Diamond Hands – $365 per month
Generally, all plans have minimum trading days. Mostly five. In case you fail the evaluation, you can reset everything as many times as you want for an additional $75. Drawdowns and profit targets depend on the program you are choosing, so make sure you check those carefully. Also, don’t miss out on our latest Funding Traders review.
Customer Support: The Key In The Business
According to the Elite Trader Funding reviews, the company’s support is not the most professional one. But what can you expect from a company that only offers a web contact form? Not even an e-mail is available. Thus, it wouldn’t make any difference either.
As one of the popular choices, this company also created the Elite Trader Funding Discord group. Here, traders can exchange thoughts about their experience, and you can see possible live results. But infiltration in that group might be harder than you think.
Final Summary: Prop Firm Or Real Trading?
To sum it up, proprietary trading with virtual funds doesn’t make sense. You can’t expect someone to give you $25k in virtual funds and that you get some real cash out of there. Also, there’s no sense to give you $25k of real money.
Instead, you can choose a demo account with any Top-Tier licensed brokerage. After a while, you can switch to micro and start trading with real money. Even at first glance, you can see the difference. Most importantly, you can use broker’s resources for education or third-party tools like AI Analysis Tool. Make a wide move and stop throwing money away. Make sure to check our Optiver review for more advice.
How Can I Make Money While Trading Online?
If you were thinking that proprietary trading is the right way, this Elite Trader Funding Review proved you wrong. Instead, you should find a legitimate and licensed brokerage to see what the trading is. Not to mention how improved your trading could be if you are using the right tools, such as AI Analysis Tool, which helps you scan the market and forecast the market movements.
Most importantly, this tool does not control your funds like automated technology. Therefore, you won’t have uncomfortable surprises. Everything is in your hands, thus, you have far better analysis compared to traders that have been learning for years and still lose money.
We understand that traders are sick of persuasions, swindlers, and aggressive sales. Instead, you should trade at your own time, at your own pace. Get in touch today and find out how AI Analysis Tool can improve your trading.
Is Elite Trader Funding Legit?
As with any unregulated proprietary firm, there is a lot of speculation. Many traders point out some irregularities and you shouldn’t test those.
How Much is the Elite Funding Trader Fee?
The monthly fees start from $80 depending on the program the client is choosing. However, paying to trade on a demo account doesn’t make sense.
How Does Elite Trader Funding Work?
Practically, they are giving you a virtual trading account in exchange for a monthly fee. Once you pass the evaluation you should get a funded account with real money.