PropW Review – Trusting This Firm Might Be a Big Mistake

First, PropW lacks necessary legal transparency. No registration details, trusted contacts, or addresses were revealed. But to be fair, they present us with founder details. It’s a good start, but is it enough?

Generally, many traders still don’t understand how prop trading works and what to expect from those firms. Therefore, we suggest you read our detailed PropW review carefully and remember all our tips.

Who Runs PropW Prop Trading Firm?

As can be seen, PropW company is connected to CoinW exchange in many ways. However, these two services are completely separate. While CoinW provides exchange services, PropW firm under the management of PropW Innovations DMCC offers crypto prop trading. Surprisingly, the company doesn’t reveal any addresses or trusted contact options for its legal entity. 

The only reason they are allowed to operate like that is a lack of regulatory oversight. And the key issue is that prop firms don’t require any regulations. After all, they offer you trading on demo accounts. To learn some prop trading basics, we invite you to check also our Capital Wealth Management review.

Meanwhile, What Do Traders Say?

Considering the company’s founding in 2023, it’s quite surprising there are only 3 reviews on Trustpilot. Even though these look pretty positive so far, you should wait with registration for a while. After all, if you check the reviews of CoinW company, you will realize why. 

All in all, there have been no complaints against this firm so far. Thus, if you compare their comments with those of Funded Trading Plus, you will realize how big of a difference that is. Especially with transparency and interesting details, as both firms were registered in the same year. 

How To Get Started With PropW Prop Firm?

One of the most concerning details about this firm is that you have to sign up through their crypto exchange, which has quite negative reviews. Also, you’ll have to connect your crypto wallet for some nonsense reason, which exposes it to a lot of potential issues. 

The reason for registration there is the company’s payment method. To get started with a PropW funded account, you can only pay the fees through the CoinW wallet. It’s a win-win situation for them. But for now, we suggest you avoid it. 

Evaluation Plans Available

In general, the challenge phases don’t differ much between prop firms. Thus, in this case, you can only choose two-step phases. Knowing that some firms offer one-step and express challenges, this is quite disappointing. 

Nevertheless, you can choose between standard and hard mode. But before you get started with those, be careful with the company’s promotions. Currently, there’s an offer of $5 million worth of funded accounts open for the AirDrop. Of course, virtual accounts. There are also various discounts, and there are always time-limited offers. 

Standard Mode Conditions

A standard mode gives traders a bit more freedom. Whether you choose funding of 5K USDT or 100K USDT, the conditions are the same. In the first phase, you have a profit target of 8%, while in the second phase, it’s 5%. And that’s the whole difference between the two phases.

The conditions that are the same are a max daily loss of 5%, a max drawdown of 10%, 5 minimum trading days, and no time limits.

Hard Mode Conditions

When it comes to hard mode, profit targets are a bit higher, up to 10% in the first and 5% in the second phase. Thus, in this case, you’ll have to keep your account below 4% max daily loss and 6% max drawdown. Yet, with the same 5 minimum trading days and no time limits.

Also, it’s worth mentioning these accounts include maximum leverage of up to 1:5 and funding of up to 200K USDT. 

PropW Evaluation Fees

Compared to other prop firms, once you complete the PropW login process, you will realize the fees are quite high. Especially with a risk of losing all your cryptos connecting it to a suspicious exchange.

In any case, with standard plans, you’ll have to pay between 50 and 500 USDT, while for the hard mode, it’s between 80 USDT and 960 USDT. OF course, the company doesn’t have refunds if you pass the challenge. To find out why refundable fees are important, check our Elites Funding review.

What Are Payout Options?

With PropW crypto firm, payout problems are highly possible. Especially since all deposits and withdrawals are done through their fairly speculative exchange. In any case, the company offers only up to 80% profit split. 

On top of that, they don’t disclose billing cycles, methods, or fees. If you think about it, what’s the logical outcome? 

Summary: Is PropW Trading Worth It?

Even though there are no PropW complaints filed so far, just be patient for a while. With unclear services and many hidden details, complaints might pop up quite soon. Therefore, if you are interested in risk-free trading we suggest you choose other prop firms.

One of the great solutions is a UK-based, fully transparent Funded Trading Plus company. With way better and more transparent payout options compared to PropW payout, it’s clear you can have a good experience. After all, check what other 2.100 satisfied traders say on Trustpilot about them.

Fairly, with all their promotions, trusted software, transparent conditions, and services, it’s not a wonder. But in the end, it’s up to you if you choose to be on the good or bad side of trading. Don’t let anyone persuade you into something you don’t find legit. 

Check out Funded Trading Plus yourself, and feel free to join them anytime you find convenient. However, don’t forget other traders might be making money without the risk of losing theirs in the market while you think about it.

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