For Traders
OVERVIEW
Operating for over a year from the UAE, For Traders (formerly Billions Club) is past its inception phase, and is headed by CEO Jakub Roz. The firm’s utilization of MetaTrader 4 and MetaTrader 5 suggests a focus on platforms that are widely recognized for their reliability and accessibility. Their association with Purple Trading Seychelles indicates a partnership with a broker providing competitive trading conditions. Offering account sizes from $5,000 to $200,000, For Traders serves a spectrum of traders from those looking to start small to those aiming for substantial trading positions. With a two-step evaluation process the firm demands an 8% profit target in Phase 1 and a 5% in Phase 2. A maximum total drawdown set at 9% across all account sizes establishes a consistent risk threshold. For Traders offers a diverse range of trading instruments including forex pairs, commodities, equites and indices, and cryptocurrencies. During the Challenge Phase, traders have access to higher leverage. For forex trading, the leverage is set at 1:125, while indices, stocks, and commodities offer a leverage of 1:20. As traders advance to the Funded Phase, there are adjustments to the leverage ratios. Forex trading leverage is reduced to 1:40. In contrast, indices, stocks, and commodities maintain their leverage at 1:20.
Challenge Phase:
Funded Phase:
For Traders introduces a scaling plan that aims to provide traders with the opportunity to elevate their trading account sizes. The scaling plan initiates after successful completion of Phase 2, allowing traders to increase their account size by a standardized 25%. At intervals of four months, For Traders analyzes the account’s profitability. If the account proves profitable, a 25% increase in the account balance transpires in the fifth month. Notably, this is achieved without the imposition of minimum profit requirements, and a maximum scaling target of $1.5 million is offered. To provide clarity, if a trader initiates with an initial account setup of $100k and demonstrates profitability, their account size could potentially rise to $125k. A noteworthy aspect of the plan is the requirement to start anew with the original account setup if an account with a scaling plan experiences a loss. This measure is implemented to foster a fair and sustainable trading environment for all traders, promoting accountability. Additionally, their Max Allocation concept, defines the total balance that a trader can be funded. This limit, set at $300k, can be reached through a single program or a combination of accounts with lower balances.