Ultimate Traders
Questions & Answers

Its very harsh. The 6% drawdown especially, literally if you make 3-4 bad trades in a row (or just unlucky), that could be that. Then again, they are not required to give money to traders who can't account for bad luck. They only want best of the best, so makes sense.

In terms of complexity, a classic challenge is better because it’s easier to follow the risk management rules, even though it takes 2 phases to complete the test fully. On the other hand, a speedy challenge is less time consuming, you need to complete only 1 phase and you’re done. However, it requires to follow rules of a strict max drawdown, otherwise you’ll fail the test.

Its not hard. There's 500 ways to do it, but for me, what worked, and I've seen others talk about it too, is: you identify the trend. And ride the trend. All of last year it was XAU growing. You can enter on any pullback, and chances are, you won't have big drawdown, and instead eend up with a W. Same with EUR/USD, was growing entire last year, with objective factors. Oil dropping entire last year... If you're trading shorter timeframes, probably different outlook. Should go to speedy challenge then mby...

The reason is simple, with speedy challenges you are able to get funded much quicker. Why are we trading with prop firms? It's all about getting funded eventually and starting to earn money, but we can't just jump in right away. We have to pass the challenges to show that we are good traders and have skills to manage those big trading accounts. The classic challenge involves two step challenges, each one with its own profit targets that you have to accomplish in order to pass. However, it’s not that easy and it may take up to two months just to pass those two assessments. On the other hand, ultimate traders also provide their traders with speedy challenges. Sure, it costs a bit more, but you only have to complete one assessment instead of two, which means you can get a funded account much quicker. Typically, it takes about a month to finish, which really cuts down your trading time compared to the classic route. At the end of the day, it's up to you to decide, both of them are good as long as you will put your max effort to pass them.

Yep - it's simple. You don't see million of info and some hidden stuff. You can open the FAQ and read the limitations and rules, and that's what you follow. For me personally the limits seem nice too, for a classic with 6% daily drawdown and 12% overall allows more flexibility and it's more fitting for beginners. And costs, those are nice too. I think that's one of the few props which uses 3rd party gateawat to transfer payouts, and that even makes them more legit because that company ensures that funds reach its destination. The disadvantage is that that payment takes some comissions, but Im willing to pay for the security of my funds. They are here long enough to have earned their reputation, and that's one of the reasons as well. Sorry if you wanted one reason, I gave you some haha

MT4, which is a well known trading platform that has been there for years. I guess any trader knows about this platform, and most people already interacted with it. So, it’s great that they chose this platform, as you don’t need to adapt for it, and can instantly get to trading part without issues. However, if you have never traded with MT4 before, then I would recommend you getting to know it first by opening a demo account. After you get comfortable, you can start trading challenges.

I think the trading strategies don't make any difference in the type of challenge you take. The only difference between the classic and speedy challenge is in the profit goal you need to achieve and get a funded account faster, and of course in the price for the challenge. As for strategies, the best is to use the one that you are familiar with, have experience with and you know it is working.

Yeah, it’s right. All you need to do is to manage to reach a funded stage and they will refund the fee you paid for the challenge. It will be done in a first withdrawal, basically the most fascinating thing in the whole prop experience with them. When I used to have a 10k funded account there, I received my 100 bucks in this way. I made my first 2 RR trades, ask for withdrawal via deel and get around 240 or so, excluding the 20% split that was kept by the firm. Thus, basically traded with only company funds, not spending a single cent.

Yes, you can do so from the client are. However, these are some things you should know: You need to trade for at least 3 days and your payout should be over $100. Also, you are eligible for a payout every 15 days, and it would be done through a 3rd party which may take comission for its services.

If you want to get funded faster, then a speedy account should be your choice. However, there's one minor thing - your skills. If you have a decent strategy and experience with the market, then you can feel comfortable in a speedy challenge. But if you are still learning and practicing, then it would make things difficult for you. Mainly becasue of the daily and overall drawdown limits, those are much tighter on speedy so the difficulty rises significantly. This is why I thinke experience matters, if you are still new to trading or props, then you should go with a classic challenge that allows you much more room for error - because there is going to be error.