Most traders entering the domain of trading prop firms opt for smaller account sizes typically the $10K money challenge. Practically every prop firm offers a $10,000 account but Axe Trader offers several different account types each with their own unique advantages for their $10K money challenge and all other accounts! Axe Trader also offers traders a unique option to purchase instant funding accounts.
This article shall discuss all the different options traders have access to along with each of their advantages.
Our capital, your skills
Single acts account provides traders with a single opportunity to hit their profit targets for the $10K money challenge. Traders are given one chance to hit their profit target in all their evaluation phases before ever hitting either the daily drawdown or the maximum drawdown.
This account type is best for traders who have spent time and efforts practising the markets and who have fine-tuned their trading craft. These traders who are confident they will succeed without an additional attempt can opt for Axe Trader’s single axe account. Traders enjoy the cheaper price associated with the single axe account. The single axe $10K money challenge can be purchased for as cheap as $98 which is among the cheapest in the industry.
Unlike the single axe account where traders immediately fail the $10K money challenge, the double axe account offers traders one additional chance to still get funded even if they fail in hitting their profit targets before hitting either of the drawdown limits.
While opting for the $10K money challenge less seasoned traders might prefer a safety net while simultaneously reducing the pressures of failure. Overall, this account is more cost effective than purchasing two Single Axe Accounts.
Seasoned traders who feel they do not need to prove their mettle can opt for the funded acts account and skip the evaluation phases entirely. These traders immediately get access to a $10,000 funded account without having to go through the $10K money challenge and can begin live trading straight away. Traders opting for this can earn higher and higher profit sharing ratios earning to right to keep up to 100% of the profits made! A $10,000 instant funded account goes for $298.
We have already spoken about the different types of Axe Trader accounts, but the options do not end there, both the single axe and the double axe accounts each have two further options. Traders can pick between the one step and two step evaluation models.
The two step evaluation model is the typical challenge account offered by most prop firms. Traders are required to go through the phase one evaluation and the phase two verification procedures before they get access to their funded capital. The phase one evaluation requires traders to hit a profit target of 8% and the phase two verification requires a profit target of 5%. Traders are required to clear both phases before they hit either the daily or maximum drawdown limits. Traders who opt for this classic account type pay $98 for the $10,000 account.
The one step evaluation account involves only one evaluation phase web traders are required to hit a profit target of 10% before they hit a daily drawdown limit and a maximum drawdown limit. The one step evaluation account is priced the same as the two step evaluation. This account type could be thought of as an in between between the typical two step evaluation account and the forex funded account. Traders are expected to hit a higher profit of 10% target before they hit a smaller daily drawdown limit of 4% and an overall drawdown limit of 6% with this account type.
Purchasing an account with a prop firm has never given these many advantages to the trader in the past! We at Axe Trader arm our traders with the ‘Axe’ they need to dominate the market of their choice be it forex, commodities, indices or crypto!
So, are you Ready to take your trading to the next level? Traders get the funding you need with Axe Trader. Follow us on our socials to keep upto date with promos, and new updates to our business operations. Here’s all our Axe Trader social handles:
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Axe Trader Ltd. offers fee-based assessment services and facilitates connections with third parties for Potential Traders who meet specific criteria defined by Axe Trader (“Eligible Traders”). Our services involve evaluating the simulated trading performance and results of Potential Traders in certain virtual off-exchange foreign currency instrument pairs (“Forex”) and/or selected virtual contracts for differences (“CFDs”). We conduct data analysis based on simulated trading activities in demo accounts traded by Potential Traders through Axe Trader’s platform, utilizing data provided by a third-party broker. Our methods and techniques are established and maintained by Eligible Traders.
Axe Trader grants access to a third-party’s simulated trading platform, related demo accounts, and simulated trading information for the purpose of conducting data analysis and assessment services. This third-party offers Eligible Traders a simulated trading environment and an opportunity to earn a share of virtual trading gains generated in demo accounts, as specified in their agreement with the Eligible Trader.
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Theoretical performance outcomes should not be considered as reflective of real trading experiences and are typically formulated with the advantage of historical knowledge, which may either overstate or understate the influence of specific market factors such as limited liquidity and price fluctuations. Moreover, since theoretical trading does not carry financial risk, it cannot fully encompass the impact of various risk-related elements, including an individual’s or advisor’s capacity to manage losses or adhere to a specific trading strategy when confronted with trading setbacks.
