I’ve put together my top 5 tips to pass any funded futures trader evaluation! I’m living proof that the programs work! I’ve passed multiple evaluations with multiple companies. Every single company listed on my site is verified by me as being legitimate, and they pay their traders. Read below for my top reasons on why you should consider trying out for a funded futures trader account.
Before we go any further, my top rated and recommended trader evaluation company is Apex Trader Funding.
You can read my full Review of Apex Trader Funding here.
I keep a current list of deals and sales on my Funded Trader Evaluation Deals Page. You will find Apex Trader Funding coupons and Apex Trader Funding promos there if they are running any.
Funded futures trading programs are an exciting opportunity for any trader, especially new traders. Traders have the ability to prove their profitability and get a funded trading account with a capital that exceeds the amount that they can afford. The leverage opportunities far exceed using your own capital to trade futures.
Often though traders get a bit ahead of themselves and ignore the risks of going in quick and fast to a new trading program. I recommend taking the time up front to study the rules, goals and your own trading abilities before jumping in.
Below are my tips and steps you should take when you start your funded futures trader evaluation journey.
Choose A Futures Trading Strategy
Test Your Strategy First
First of all, and I would hope this is obvious, but you need a strategy, or several. Just jumping in and chasing the market is a sure fire way to bust. I recommend trying out your strategy, backtesting it, and fine tuning it. Don’t use the live markets as a test.
Your strategy should also have some basic concepts in place such as:
- Products you trade
- How many contracts
- Stop loss and Take Profit
You can sign up for a virtual account and test your strategies.
Risk Management Strategy
All funded futures evaluation programs will have their own set of rules you must follow, but beyond these you should have your own set of rules also. Risk Management is what will keep you in the trading game long term.
Risk Management for futures trading should include:
- Setting a stop loss and a take profit for every trade depending on your daily objectives and in your capital (at least if you are new to trading)
- Knowing the percentage of the capital you want to risk in every trade, or how many contracts at least
- Learn to diversify your strategy based on market conditions
Choose The Right Funded Futures Program
There are several choices in the funded futures trading world. I’ve passed evaluations with many of them, and you can find all my Reviews of Funded Futures Programs here, and you can find Deals and Promos on Funded Futures Programs here.
When looking at the firms, ask yourself:
- Does the company offer the instruments you want to trade? Most offer a similar selection but occasionally they offer different ones.
- Check the max losses per day, per week, per account, and see if it’s suitable with your risk management strategy.
- Take a look at the rules, a very deep look, you will find all information that you need in the FAQ section of every website.
- Be sure you understand end of day (EOD) drawdown vs. Trailing Draw Down. These are the 2 common daily drawdown methods and they work very different
- As well I recommend checking out the rules once you are funded.
To help you choose below are reviews of the firms I personally recommend based on experience and having gone through their programs.
Practice Using a Free Trial
Pretty much all funded futures trader evaluations have a free trial. This will not contribute to you passing an evaluation, but is a great way to get used to the software and test out your trading skills. Usually the trial is 14 days which is plenty of time to give it a test.
When you go to the various companies you are interested in just search for the Free 14 Day Trial.
Read the FAQs and Don’t Jump In Immediately
This is one of the most common mistakes that traders make when they sign up for a funded futures trader evaluation.
People sign up and want to start immediately. Several times I’ve had people say they broke a rule because they didn’t know it existed. It is your responsibility to read the rules and know what they are before starting. It is far better to spend a few hours making sure you are clear on the rules than having to pay for resets because you made mistakes up front.
Every funded futures trading program will have a full faqs and help section for you to learn from.
You Probably Won’t Pass Your First Time
I’ve yet to meet a trader, myself included, who passed their very first evaluation. It’s okay to break a rule and have to reset your account. In the long run if you have a winning strategy, even after several resets you will come out ahead.
Example:
Let’s say that you choose a $300K account and sign up at a discount for $300. The target is $9,000 in profit for you to pass.
- First month: $300 sign up and 1 x $100 reset: ($400)
- Second Month: $300 monthly fee and 1 x $100 reset: ($400)
- Third Month: $300 monthly fee and 1 x $100 reset: ($400)
- Fourth Month: $300 monthly fee and 1 x $100 reset: ($400)
- Fifth Month: You Pass!
That costed you until now : $400 * 4 = $1,600
- In your fifth month you are moved to a live account, and the sky is the limit on how much you are allowed to earn. Making $1,600 in a live $300K account isn’t exactly difficult, so you recoup your costs pretty much immediately.
Summary
The futures trading world isn’t easy I will admit. But if you have discipline, patience and are willing to put in the work and learn from your mistakes, the funded futures trader evaluation opportunity is a fantastic one.
I mentioned at the start I passed several, at the point of writing this article I’ve passed and been funded with over 5 companies and with over $1 million in funding!
Be Notified Of New Trader Evaluation Promotions
Submit your email if you want to be notified of new trader evaluation promotions. I never spam nor sell anything. Usually 2-3 emails a month are sent with the latest deals.
Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
Affiliate Disclosure:
The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.
Additional Disclosure:
The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.