October 2024 Update: I’ve decided to no longer work with several firms as there are industry regulations coming and I don’t believe several firms will meet the criteria, including this one. I am leaving this article up but all links to to companies I no longer represent will forward back to my main Deals and Promos Page.
You can find more information here: Regulations Are Coming – October 2024 and also find my list of recommended companies that will be compliant.
FlexyTrade is a new 2024 trader evaluation firm with a lot of benefits. Trade up to 20 funded accounts, purchase accounts in bundles (instead of one at a time) and only a one time evaluation fee (not a monthly billing) make FlexyTrade very attractive to new traders. Naturally people have a lot of questions about FlexyTrade.
You can also read my review of FlexyTrade here.
Also, be sure to check my Exclusive Promos page – I always have a discount on FlexyTrade just for you!
Is FlexyTrade Legit? Do They Pay Their Traders?
Yes absolutely they are both legitimate and pay their traders regularly. This is always one of the questions that comes up with new firms like FlexyTrade. I would not endorse them if they did not. Although a new firm in 2024, after several months of regular payouts to funded traders it is no question that they pay out. I have not heard of one problem, but many success stories.
Have You (Canadian Futures Trader) Been Paid by FlexyTrade?
Yes I have been paid by FlexyTrade every month myself. Right on the first of the month (sometimes the day before even). Payouts are done once per month only, keep that in mind. You can request your payout right from your dashboard, and you’ll get paid at the end of the month (or 1st) simple as that.
Is There A Daily Draw Down With FlexyTrade?
FlexyTrade has no daily draw down amount. They do have a trailing draw down which you can learn more about in their FAQs on their website.
What Are The Rules of FlexyTrade to Pass?
The rules to pass are honestly pretty straight forward.
- Meet the profit goal for your chosen account size
- Do not violate the trailing draw down
- Do not trade more contracts than allowed (the system won’t let you do this anyway)
- Note: There is no minimum trading days! Pass in 1 day
That is essentially it. Your questions about FlexyTrade all answered. Sounds simple, but don’t take any evaluation lightly. You still have to manage your own risk to not violate the draw down. If you stick to your trading plan, passing isn’t that difficult. I’ve passed evaluations with pretty much every top tier firm myself.
What Are The Commissions For Trading Futures With FlexyTrade?
The commissions vary by product, if you visit the FAQs section of their site there is a list with the commissions.
What Software Can I Use For FlexyTrade Evaluation?
Rithmic will be the data feed for FlexyTrade. Rithmic does have their own software, RTrader Pro which is free. As well FlexyTrade provides a free license of Quantower to use as well.
On top of these free options, you can use any software package that is capable of connecting to Rithmic. There are several out there. For example I use Jigsaw Daytradr myself as an in depth order flow scalping tool.
How Do I Withdraw Money From FlexyTrade?
FlexyTrade withdrawals are easy to do. They have a full FAQs about it, but in general the process is:
- Withdrawals can be made after every 10 trading days
- Once approved, sit back and enjoy your profits!
- If you have other questions about FlexyTrade be sure to read their faqs.
What Happens If A Trader Made a Million Dollars (insert any big number here), Wouldn’t They Bankrupt The Company?
No. Please think about this for just a second.
First, you have zero incentive to keep trading with a prop firm when you are making that much money. Remember the 90/10 split? If you are capable of making that kind of money you would not want to give up 10%. You would take your profits far sooner and open a brokerage account. As well, I hate to tell you but chances are you aren’t a million dollar trader.
Second, in a Performance Account when you show more than average aptitude with trading, you’ll be moved into a fully funded account and/or your trades copied to a master account. Your $1 million isn’t coming out of the company’s pockets, they would be actual realized profits from trading.
I think this question comes from people with delusions of grandeur more than out of a realistic situation.
What Products Can I Trade With FlexyTrade?
Basically any CME Group listed futures product. Be sure to check their FAQs where they do list them out in detail. In general though, any futures CME Group product. You can not trade FX, stocks or options with FlexyTrade.
What Are The Monthly Fees After Passing?
There is no monthly fee once passing. You do pay a one time activation fee with FlexyTrade. This will be available to pay immediately after passing the evaluation in your dashboard so you can get to trading quickly.
If I Break A Rule Can I Reset My Account?
Since FlexyTrade is a one-time only payment firm and not ongoing, there is no Reset fee. Instead you would just sign up again for an account. Likewise, you can not reset your performance account once you pass. This is one of the questions about FlexyTrade that I’m happy to answer does not apply.
Conclusion
Hopefully the above questions and answers cover most of the questions you may have about FlexyTrade. I definitely recommend them, they are one of the standout great new firms of 2024! Be sure to check out my Exclusive Deals Page for the latest FlexyTrade promo!
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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.