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Can You Have Trader Evaluations With More Than One Company?

question

I’ve seen the question “Can I Have Trader Evaluations/Funded Accounts With More Than One Company?” asked several times the last few months. The short answer is Yes, you can have trader evaluation accounts with more than one of the online prop firms. Beyond that, you can also have funded accounts (once you pass) with more than one firm. In some cases you can have multiple funded accounts with 1 company! More information below if you care for the details.

Currently Earn2Trade and Uprofit Trader are the 2 I’d recommend most for traders overall. You can read my reviews and ranking of all the companies I’ve been with and some others as well here: Futures Trader Evaluations Reviews and Information


Trader Evaluations – Accounts With Multiple Companies

The very quick answer is yes, you can take trader evaluations with multiple companies at the same time. Basically there is no rule preventing you from trading with several firms. I’ve done 2 at the same time myself at different times, all varying companies.

Now, just because you can doesn’t mean you should. Especially if you are new to the world of futures trading my recommendation would be to focus on one account and get good at it. Don’t let the dollar signs guide your decision as you think about being a top gun trader with several accounts. They will always be there, pass one, get funded then fire away on some others. Just my advice, do as you like though.

Another thing that will cool your jets a little – most of the evaluation companies use Rithmic as their data provider. And you will quickly learn that you can only log into 1 Rithmic account at a time on a computer. So while you might have accounts at Company A and Company B, you won’t be able to trade them at the same time.

You might have heard of trade copiers. I wrote and entire article about them and how they work. You can read it here: Trade Copiers – What They Are, How They Work and My Recommendation

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Trader Evaluations – Multiple Accounts With 1 Company

Taking things a step further, can you have multiple evaluations with 1 company? The answer is it varies by company.

Currently here is what each company allows. Please read on though to the Funded With Multiple Accounts sections as just because you can take multiple evaluations doesn’t mean you can have multiple funded accounts at each company. As well these rules could change at any point, so please verify with the companies directly.

  • Uprofit Trader – you can take as many accounts as you want (no limit) and the evaluations will all be under the same log in, meaning you could use a trade copier.
  • Earn2Trade – you can take as many as you like, but each one has to be tied to a different email, meaning separate Rithmic log ins. (note you can only have 1 funded accounts with Earn2Trade, so taking several evaluations is purely to hedge your bets. Take 3 evaluations with hopes of passing 1 for example).
  • Leeloo Trading – I’ve heard different numbers on how many evaluations you can have, last I heard was 10 at a time. They will all be under the same log in, meaning you can use a trade copier.
  • Topstep Trader – As far as I know, you can only have 1 trader evaluation with them
  • Oneup Trader – As far as I know, you can only have 1 trader evaluation with them
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Funded Futures Trader Accounts – Multiple Accounts Different Companies

When it comes to funded accounts it’s pretty simple. You can be funded with several companies at the same time. Myself I am funded by 3 currently. As well, I have 2 of my own futures brokerage accounts. Basically, there’s no rules about having accounts at multiple companies.

The same disclaimer applies though as with the evaluations. Since pretty much all the funding companies use Rithmic as your connection, you won’t be able to log into multiple accounts at the same time. You will have to log into each individually, trade it, log out, then onto the next. Is it a huge hassle? Yes. If having multiple accounts is your goal, I’d recommend reading on to the section about having multiple funded accounts with 1 company and go that route.

Keep in mind also each company has rules around how much you must trade when funded. Usually it amounts to at least 1 trade a week, but you will have to do this or lose your account. Oneup actually requires you to trade at least 50% of the volume you did in the evaluation, so that is a commitment to actively trade with them once funded. Be aware of this when making your choices if you don’t plan to trade often.

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Funded Futures Trader Accounts – Multiple Accounts With 1 Company

Your choices here will be slimmer. So the benefits to having multiple accounts at 1 company is it is just easier to manage and when they are under the same log in, you can use a trade copier. When you log in, you will see a list of your accounts and choose which to trade, and/or let the copier handle duplication.

Uprofit Trader is your other option. With Uprofit Trader though here’s the rule – you can have as many funded accounts as you want BUT only 2 per log in. So while during the evaluation you can have all the accounts you want under 1 log in, once funded they’ll put them in groups of 2. You have 5 funded accounts? You have Login A with 2 accounts, Login B with 2 other accounts and Login C with 1 account.

A note on Earn2Trade – I mentioned above you can take multiple evaluations with them using different emails. The catch is you can only have 1 funded account. So the purpose of having multiple accounts with them is purely to hedge your bets, with the goal of passing 1. If you pass several, you will have to choose which one you want funded.

One other thing to keep in mind – most of the companies have either a monthly data fee you pay or a one-time fee you pay for your funded account. You will have to pay this fee for each live account even when the same company, and even if they are under the same log in.

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Conclusion

There’s lots of reasons why people want to try out with multiple accounts. For some they love the idea of having access to more capital. For others it’s a hedge. Take 10 evaluations, if you pass 3 then great. For others it’s about having different accounts for different purposes, maybe on one you dedicate to your ES strategy, another to your CL strategy, so you can really track your results by product and account performance.

Whatever your reasoning, now you know you can indeed have multiple evaluation accounts with different companies, in some cases with the same company, and even have funded accounts with multiple companies also!


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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.