The paradox of decision-making involves having too many options available which causes decision paralysis. Hence you don't end up making a choice when given too many options. This theory in Behavioral Psychology can be witnessed when you shop at Tesco, Whole Foods, Walmart, or your local grocery store. For instance, you walk into Walmart hoping to buy some cereal and see twenty different types of cereals with different visual graphics and sizes of each cereal brand. But how to choose which cereals to buy when all the packaging and branding of your favorite cereal brands look the same and feel the same? In a situation like this, you could be overwhelmed with the numerous choices you have and end up not buying cereal! In a similar situation with prop firms, there are several prop trading firms globally offering similar services (model types, profit targets, drawdowns, other rules, etc). So how do you choose the best prop firm with the prop trading account types that may suit your risk tolerance and your budget?
Our capital, your skills
Credibility and Reputation go a long way and shortlist your initial pool of choices worldwide. Choosing a prop firm to trade with is extremely important, as there are several prop firms out to scam you (take your challenge fees and never payout traders). So watch out for reviews or red flags that echo untrustworthiness on social media handles of the prop firms you wish to trade with!
Prioritize the founding and managing team of a prop firm over a prop firm run by younger individuals without prior business experience. Several traders have now joined the sector with their own proprietary trading firms, and stay away from firms like this as you’ll end up without your payout. Trust prop firms whose C-suite have more than 100 years of cumulative experience running successful businesses. Look into the C-suite's (CEO, CMO, CTO, COO) LinkedIn profiles to look at the experience they bring to the table before trading with a prop firm.
Axe Trader Hub’s team has over 100 plus years of cumulative experience running successful ventures with seasoned coaches, mentors, and trading psychologists at your disposal. The most unique selling point of Axe Trader is its Double Axe model type that allows traders to have two chances to pass their evaluation or challenge phase on the road to a funded trader. We are here to upskill you as a professional trader and offer you two chances to prove yourself with only one challenge fee. Account sizes range from $5,000 to $250,000 and challenge fees range from $98 to $1698 with Double Axe Model Type. So, Pay once, and Try Twice with our Double Axe Model Type:
One Step: Profit Target of 10%, with a Daily Drawdown of 4% and Max Drawdown of 6%
Two Step: Step One Profit Target of 8%, Step Two Profit Target of 5%, with a Daily Drawdown of 5% and Max Drawdown of 10%.
Keep it simple when trading with Axe Trader, we offer single axe (single chance) or double axe (two chances) with one step or two step accounts. We also offer funded axe accounts for professionals and expert-level traders who wish to skip the evaluation phase!
To get the best bang for your buck in added value, trade with Axe Traders two step double axe model type. The account size depends on your budget between $98 to $1698. So Pay Once, Try Twice with Axe Trader, and make the smartest choice in your prop trading career without worrying about getting paid out on your funded account.
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Begin your journey towards becoming a successful trader with Axe Trader: Assume Zero Risk - Keep upto 100% of the simulated profits!
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.
Additionally, Eligible Traders acknowledge and agree, as outlined in their agreement, that the third party has the right to collect and use the data obtained from Axe Trader for their own benefit, including the option to replicate trading activities based on this data. The third party also retains the right to incorporate any information received from Axe Trader regarding Eligible Traders into actual live market trading, which they will conduct for their own account and at their own risk.
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.
