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UProfit Trader Funding Review
Uprofit Trader is a futures focused prop firm based out of Texas, United States. They have one of the best reputations in the world for providing huge levels of support and funding to traders looking to advance their trading careers and take on additional capital. With a very simple 1-step verification program and funding up to $100,000, is this the scaling option for you?
*Price includes using 30% off discount code applied automatically
For traders familiar with UProfit previous format, let’s highlight the differences after the relaunch.
- New Site Design
- Front End – New and slick design, makes shopping experience and reading up on the program significantly easier
- Back End – New and improved slick trader dashboard and account management area
- Program Changes
- Introduced Very Low-Cost Basic Program – get started in trading for the cost lower than data fees and software lease alone.
Introduced THE PREMIUM PROGRAM – It was our only gripe with UProfit. To unlock significant drawdown traders had to navigate multiple accounts. Now we have UPROFIT PREMIUM PROGRAM – 200K account with $5,000 Pro Drawdown and 20 contract max. More room to work with during current high volatility regime.
UProfit Trader is a very popular option and our top recommended program. Simple evaluations process. Withdrawals possible from day 1. Withdrawals processed in around 24 hours. No need to wait 50 minimum trading days and withdraw only on select day of the month.
We as traders LOVE being able to get paid for good trading performance, and UProfit Live Accounts allow you to do just that, as often as you would like.
Very slick new site design getting straight to the point. Navigate to exactly what you need in a single click.
Something for every trader, remember you can get funded for multiple accounts as well. Be free to mix and match accounts.
- New 9K – The Basic Program. Excellent value for low budget traders looking to start for a low fee. Only $54 with current 30% Off Promotion.
- 50K Program – Most Popular Program. Top program for a reason, sub $100 evaluation comes with $2,000 in drawdown and only $2,500 profit target.
- 200K Program – Our favourite addition and best EOD drawdown evaluation in futures for larger traders.
- 100K Program – Least appealing of the programs. 2:1 Profit Target to Drawdown Ratio. Traders would likely be better off getting 1 or 2 50k accounts or 200k account to maximize the value of Uprofit Trader Funding.
New Trader Dashboard and Account Management
Traders can now view their accounts status in new and improved dashboard.
Progress Report – how much profit and how close the drawdown trade is.
Individual Trade Breakdown – keep log of all your trades.
Day by Day breakdown with Instrument granularity. Review performance easily all within the same dashboard.
Quick access to support – contact support chat or advanced support departments with a single click.
While we value programs mostly based on value offered to the traders, having greatly improved slick user interface is a great addition by UProfit Team.
A drawdown is a reduction or decrease. It is used in financial markets to refer to the worst sequence of accumulated losses. This means the greatest drop from the highest to the lowest point on a return curve.
We can get a general overview of the Drawdown, the maximum loss a trader can bear, or the volatility his capital has experienced to achieve the ultimate objective.
The Pro Drawdown update is done at the end of each trading day. This can be done during your evaluation or in a Live Account. Track your Pro Drawdown via your Dashboard on UProfitTrader.com.
The Pro Drawdown will consider only the winnings at the close of each trading day. It is updated whenever your account balance reaches an all-time high at the close of each trading day.
Example account with $100,000: You have an open position balance above $100,500 on Day 1 of trading. However, your account balance is $100,000 when you close your trade. Your trading balance is $100,000 at the end. Your Pro Drawdown at the closing of the trading day is $97,000. It would be $97,000.
You have an open position balance of over $100,800 on Day 2 of trading. However, your account balance is $98,000 when you close your position. Your trading day ended with a $98,000 balance. Your Pro Drawdown at the closing of the trading day is $97,000. It would be $ 97.800 if you had a trailing drawdown.
You do not trade on Day 3 of trading. Your trading balance is $98,000 at the end. Your Pro Drawdown at the closing of the trading day is $97,000. It would be $97 800 if you had a trailing drawdown.
You have an open position balance of over $103,000 on Day 4, but your account balance is $100,000 when you close your trade. Your trading balance is $ 100,000 at the end. Your Pro Drawdown at the closing of the trading day is $97,000. It would be $99,000 if you had a trailing drawdown.
You have an open position balance of over $105,000 on Day 5 of trading. However, your account balance is only $104,000 when you close your trade. Your trading balance is $104,000 at the end. Your Pro Drawdown at the closing of the trading day is $100,000. It would be $100,000 if you had a trailing drawdown.
Balance in Trading Account: These funds are your trading account’s available funds. The maximum account balance that an account can sustain is the Account Balance. It can be updated at the end or in real-time.
Pro Drawdown This is only updated when your Account Balance reaches an all-time high at the close of every trading day. Trailing Drawdown This is constantly updated in real-time, considering realized and unrealized gains. (Unrealized PNL). Unrealized PNL: This is your maximum account balance, considering open and closed operations.
Your account will be closed if it falls below the Pro Drawdown at any time during the day. You cannot take your account balance to a greater loss than the Pro drawdown during any trading day.
See full Drawdown Explainer piece and comparison amongst futures funded trader programs. You will see how UProfit Trader’s drawdown is superior to other programs
Uprofit Trader, a prop company that focuses on futures, is based in Texas, United States. Uprofit Trader has a reputation for providing traders with high-quality support and funding. This is the right scaling option for you. They offer to fund up to $100,000 and a simple verification process.
Uprofit Trader funding is very easy to use. It’s much simpler than other prop companies in the industry. The verification process is a simple one-step process where you will trade on a simulated market account to show your profitability in the markets. You will need to follow a set of very basic rules and criteria regarding a profit target and instruments and drawdown and maximum losses. There is truly no rush to go through the challenge or evaluation period since the minimum days of trading is set to 10.
I am often asked if I can have multiple funded accounts. Then I ask if they are under the same login. This was clarified with the UProfit Trader founder. Unfortunately, this is not always the case, and even their support does not always make it clear. Here’s what I was told.
- Under one login, you can have as many evaluation accounts as your heart desires. You can have as many as you like, up to 20.
- Two Funded Accounts Per Email Address/Log In
- There is no limit to how many funded accounts you can have, but a maximum of 2 per email or login.
- A trade copier can be used between your accounts.
This is important because many people want to trade copiers between multiple accounts. Only one email can be used at a given time. You cannot have more than two funded accounts.
It is worth noting that they are the second company to offer a $75,000 evaluation.
The smallest program is $25,000 Funding, then there is $50,000 Funding, $75,000 Funding and the largest program which is $100,000 Funding.
The Basic Program | The Advanced Program | The Elite Program | The Premium Program | |
Funding Amount | $9,000 | $50,000 | $100,000 | $200,000 |
Profit Target | $900 | $2,500 | $6,000 | $10,000 |
Max Contracts | 5 | 6 | 12 | 20 |
Daily Loss Limit | $350 | $1,100 | $2,200 | $4,000 |
Pro Drawdown | $800 | $2,000 | $3,000 | $5,000 |
Minimum Trading Days | 10 | 10 | 10 | 10 |
Monthly Fee | $89/month | $160/month | $315/month | $500/month |
You will be connected via Rhythmic when you sign up for UProfit Trade, just like other trader evaluation companies. Rhythmic Pro is their software, but it’s not the best software out there. However, you can get a NinjaTrader license with UProfit Trader for free. As you might already be aware, NinjaTrader is a lot of times, the top choice of traders, especially the ones early on in their careers.
Of course, you can also use your software. Jigsaw Daytrader is the favorite of quite a few day traders as well, you would just have to connect Jigsaw with Rhythmic to trade there, not NinjaTrader. Once you have gotten funded you gain access to NinjaTrader which you can use for as long as you wish. However, you will be issued a new license key.
I am often asked if I can have multiple funded accounts. Then I ask if they are under the same login. This was clarified with the UProfit Trader founder. Unfortunately, this is not always the case, and even their support does not always make it clear. Here’s what I was told.
- Under one login, you can have as many evaluation accounts as your heart desires. You can have as many as you like, up to 20.
- Two Funded Accounts Per Email Address/Log In
- There is no limit to how many funded accounts you can have, but a maximum of 2 per email or login.
- A trade copier can be used between your accounts.
This is important because many people want to trade copiers between multiple accounts. Only one email can be used at a given time. You cannot have more than two funded accounts.
These are the general rules. Please refer to the site for specific rules.
- 1 Step – Trade for 10 Days and Reach the Profit Goal (I like 10 Day Evaluations).
- Trailing stop loss stops at initial balance
- Drawdown is calculated at night and not between trades. This is a huge benefit for traders.
- There is no scaling plan for the evaluation (although it is available when funds are available, this is not common).
This may seem overwhelming if you’re new to trading. It is a good idea to read through their FAQs to understand what you are getting into.
These general rules will apply to the evaluation. As you build up your balance, you’ll return to the scaling plan. It is important to know their withdrawal rules. You would be eligible for a 50/50 split of money taken out on days 1-40 after being funded. The standard 80/20 split is available after this point. This is done to encourage people not to keep pulling profits but to build a balance.
There are usually fees for data or 1-time setup fees once you have been funded. For example, UProfit Trader charges one-time assignment fees instead of a continuous data feed. Although this might seem harsh to some, it is much cheaper than paying $100+ per month with other companies.
The following are the fees associated with UProfit Trader Funding Accounts:
- $ 9,000 Account One Time Assignment Cost of $99
- $ 25,000 Account Assignment Cost $150
- $ 50,000 Account Assignment Cost $150
- $ 75,000 Account One Time Assignment Cost $165
- $250.00 for a $250 Assignment in a $ 100,000 Account
UProfit Trader announced a change to withdraw methods and timeline in May 2021. They now offer one-day withdrawals. If you submit your request before the market closes, they will deduct funds from your account and process your payment that day. It may take a while to receive your payment (ACH, for example), but most other methods like Crypto and PayPal should be available within 24 hours. Many withdrawal options are available: wire, ACH, and crypto (USDT, USDC), PayPal, Visa/Mastercard, and wire.
1 step evaluation
- Evaluations for 10 Days Only
- Not after every trade, but the drawdown is updated at the End of the Day.
- Profits can be withdrawn from funded accounts immediately (but at a 50/50 split over 40 days).
- 1 Day Withdrawals & Methods of Withdraw (PayPal, Wire, ACH, Crypto, Visa/MC Refund).
- Support was quick and lightening (replied in five minutes to my query)
- Multiple accounts can be funded, and you can use a trade broker.
Multiple accounts that have been funded once are allowed to be logged in. You can log in as many times as you want, but not more than 2.
- There is no educational content. You must be able to do the work.
- Assignment/Activation Fee on Funded Accounts
- There are fewer options for account size than most other competitors.
You’ll always receive the best pricing if you use our link: UProfit Trader Discount.
- 10 Days to Go
- 1 Fee once Funded, and nothing after that
- 1 Day Withdrawals (a huge benefit for UProfit traders funded by UProfit)
In conclusion, Uprofit Trader is certainly one of the best prop firms in the market for futures traders. They offer generous funding of up to $100,000, a very simple 1-step verification process, 3 trading platforms, straight forward rules, and a small monthly fee.
ABOUT THE AUTHOR
Romain is an independent trader and investor specializing in financial market analysis and trading systems. He worked as a professional long/short equity trader for a trading firm in New York and has a passion for building mechanical trading strategies. He has been in the industry since 2008.
DISCLAIMER
This post expresses the opinions of the writer and is for information, entertainment purposes only. Romain is not a registered financial advisor or certified analyst. The reader agrees to assume all risk resulting from the application of any of the information provided. Past performance is not a reliable indicator of future returns and financial trading is full of risk.) Please read the Full Disclaimer