ForTraders review
Introduction of the broker ForTraders
For Traders is a prop trading company established in 2023, providing traders with funded accounts without requiring their own capital. Its headquarters are in Dubai, with branches in Prague and Kuala Lumpur. The company collaborates with the broker Purple Trading.
Traders can access virtual capital ranging from $5,000 to $200,000 at For Traders. The company offers two types of challenges with customizable settings, where the profit target starts at 8-10%, and for the single-phase challenge, it ranges from 9-11%.
The prices for these challenges range from $54 to $999. For Traders' prop trading system works by providing successful traders with funded accounts after completing a challenge. They trade with company capital and share the profits achieved. It is not a traditional broker!
This review explores how For Traders' prop trading system works, the conditions for obtaining a funded account, and everything the company offers to its traders.
How Do Paid Challenges Work at For Traders?
For Traders offers traders the opportunity to access virtual trading capital through so-called challenges. These are evaluation programs where you need to demonstrate your trading skills on a demo account. At For Traders, you can choose from three types of challenges:
- The single-phase challenge is the fastest way to obtain a funded account.
- The two-phase challenge divides the skill demonstration into two steps.
- The two-phase PRO is designed for more experienced traders.
For Traders allows traders to choose from three different trading platforms. The most popular choice is MetaTrader 5, known for its complexity and reliability.
The second option is DX Trade, which is gaining popularity, especially among U.S. traders for whom MetaTrader is unavailable.
The newest addition is Tradelocker, which integrates trading directly into the TradingView environment. This solution is ideal for traders who want to have both analysis and trade execution in one place, particularly when using the web version of the platform.
For Traders offers different levels of leverage depending on the trading phase. During the challenge phase, forex pairs can be traded with leverage up to 1:125, stock indices with 1:20, and commodities with 1:40.
After successfully obtaining a funded account, the leverage is reduced to safer levels – forex trading at 1:40, while indices and commodities are traded at 1:10. This more conservative leverage setup on funded accounts helps better manage risks when trading with larger capital.
Single-Phase Challenge
The single-phase challenge at For Traders starts at a base price of $47 (normally $59) and offers a faster route to live trading with virtual capital of $6,000.
Unlike the standard two-phase variant, you must achieve a 9% return in just one phase. Additionally, stricter security limits apply – the daily loss must not exceed 3%, and the total loss must not exceed 6% of the account. Upon meeting these conditions, you receive an 80% share of all future profits.
The package includes a comprehensive educational course with over 2 hours of material across 12 videos. You also get full access to the trading platform, including tools for trailing stop-loss. You have a minimum of 3 days to complete the challenge, with no maximum time limit – allowing you to trade at your own pace.
This variant is especially suitable for experienced traders who are confident in their strategy and prefer a shorter evaluation process over the standard two-phase route.
Two-Phase Challenge
For Traders offers the classic two-phase challenge at a base price of $47 (normally $59). You trade with virtual capital of $6,000 and demonstrate your skills in two phases.
In the first phase, the goal is to grow the account by 8%, while the second phase requires only a 5% increase. To successfully complete the challenge, you must adhere to safety limits – the daily loss must not exceed 5%, and the total loss must not exceed 10% of the account. After completing both phases, you receive an 80% share of future profits, which are paid out every two weeks.
The challenge price includes a comprehensive educational package with 12 instructional videos totaling over 2 hours. Full access to the trading platform is also included. There is no time limit for completing each phase – you can trade at your own pace and according to your strategy.
The daily loss limit can be reduced to 4% for an additional fee, which lowers the overall challenge price.
Fees and Scaling Funded Accounts
Trading with For Traders requires only a one-time fee for the challenge. The good news is that this fee is refunded with your first profit withdrawal after successfully completing the challenge. During trading, you only encounter standard market costs like spreads and swaps for holding positions overnight, even though you are trading with virtual capital.
For Traders also offers an attractive account scaling system for successful traders. If you demonstrate consistent profitability over 4 months, your trading capital is increased by 25% of the original size in the fifth month. This process can continue up to an impressive $1.5 million.
It is important to note that violating the rules (such as exceeding the daily loss limit) results in the loss of the funded account, including any scaled-up capital, and you must start a new challenge. Scaling can also be used with multiple funded accounts simultaneously, giving experienced traders room for further growth.
This system motivates disciplined trading and rewards long-term successful traders with the opportunity to manage increasingly larger capital.
Rules and Withdrawal System at For Traders
For Traders requires a standard verification process before the first profit withdrawal. This includes identity verification through an ID document and a selfie photo (KYC). The process also involves signing a cooperation agreement, processed on business days within 24 hours.
After successful verification, the first profit withdrawal is possible 14 days after obtaining the funded account. Subsequent withdrawals can be made weekly. The minimum withdrawal amount is $100, and funds can be received via traditional bank transfer or cryptocurrencies USDC and USDT.
The platform supports various trading tools, including limit orders, automated trading systems (EA and AOS), and allows copying trades between the same trader’s accounts.
Strictly prohibited are sharing account credentials, delegating the challenge to other traders, or using specific trading practices like high-frequency trading, arbitrage, tick scalping, or grid trading systems. These rules are set to ensure a fair and transparent environment for all traders. Violations lead to account loss and the need to start a new challenge.
| Basic information | |
|---|---|
| Customer support |
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| Deposit from | 47 EUR/USD |
| Real Stocks and ETFs | |
| Established | 2020 |
| Last update: | |
Pros
- Low base fee for participating in the challenge
- Two challenge completion options, both easily customizable
- Competitive and favorable conditions
Cons
- Higher minimum amount for the first profit withdrawal
- Relatively new company in the market
- Stricter conditions for the one-phase challenge
Licences and regulation
ForTraders presents itself as an educational and evaluation company that does not accept deposits from customers or offer financial services. All accounts provided to customers operate in a virtual environment with virtual money. Since the company does not act as a traditional broker, it is not subject to the standard regulations for financial institutions.
Summary of Information about ForTraders
For Traders is a prop trading firm that provides capital for trading. To obtain a funded account, traders must complete a challenge by growing their account while adhering to daily and total loss limits. Compared to competitors, the company allows traders to adjust challenge conditions for a fee (lower target profit or higher loss limits). Upon successful completion, the fee is refunded, and traders can withdraw profits. The company regularly offers discounts of up to 15% through its partners.
| Category | Details |
|---|---|
| Available Instruments | Forex pairs, precious metals, energy, stock indices, individual stocks |
| Account Sizes | $5,000 to $200,000 |
| Target Profit | 8-10% (standard), 9-11% (single-phase challenge) |
| Profit Split | 80-90% depending on selected parameters |
| Maximum Daily Loss | 3-5% depending on selected parameters |
| Maximum Total Loss | 9-10% (standard), 6% (single-phase challenge) |
| Challenge Duration | Minimum of 3 trading days |
| Withdrawal Conditions | Allowed after 14 days |
| Offered Leverage | Up to 125:1 |
| Challenge Price | $54-$999 |
| Operator | BLN Tech Club DMCC |
| Founded | 2023 |
| Headquarters | Dubai with a branch in Prague |
| Website | www.fortraders.com |
FAQ
The base price of the challenge is $47 (normally $59). Included in the price is virtual capital of $6,000, a comprehensive educational course (12 videos, over 2 hours of content), full access to the trading platform, and an 80% share of profits upon meeting the conditions. For the two-phase challenge, you need to achieve an 8% return in the first phase and 5% in the second, with a daily loss limit of 5% and a total loss limit of 10%.
For Traders offers capital increases every 4 months by 25% of the original account size if the trader consistently generates profits. This process can continue up to $1.5 million. However, if rules are violated (e.g., exceeding daily limits), the trader loses the scaled-up capital and must start a new challenge. Scaling can be applied to multiple funded accounts simultaneously.
Before the first withdrawal, traders must complete a KYC process (identity verification) and sign a contract. The first withdrawal is possible 14 days after obtaining the funded account, with subsequent withdrawals available every 7 days. The minimum withdrawal amount is $100. Funds can be withdrawn via bank transfer or cryptocurrencies (USDC and USDT). It is also important to note that the challenge fee is refunded with the first withdrawal.
