Traderseed Review 2024
Website: www.traderseed.io
Min. Deposit: US$ 100
Leverage: 1:100
Trading Platforms: MT4
Regulation: Malta
Headquarters: Malta
Founded: 2022
Regulatory Licenses:
- Traderseed Limited — registered in Malta company number C101433
Updated on April 29, 2024
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In our comprehensive evaluation of forex brokers, we employ a meticulous methodology that involves examining over 1000 brokers based on various crucial parameters. These parameters include, but are not limited to, regulatory compliance, trading platforms offered, customer support quality, trading conditions, and educational resources available. Our goal is to provide traders with an unbiased and thorough review to make well-informed decisions about which broker is best suited to their trading needs.
Founded in 2019, Traderseed stands out as a distinctive trading platform offering innovative trading programs specifically designed to assist aspiring traders in developing the necessary skills for success within proprietary trading firms. Diverging from the traditional prop firm models, Traderseed introduces a fixed-payout model, allowing traders to know in advance what their earnings will be for each challenge they complete. Being a Prop Trading Firm, Traderseed offers traders the unique opportunity to engage in real trading with virtually no initial funds required. To trade with company funds as a professional trader, all that is required is for the trader to pass a test or challenge to obtain a funded account. However, potential risks should be considered carefully before participating.
Pros
Lower profit target requirements make it easier for traders to reach payout conditions.
Competitive pricing structure with great variety of balances and low registration fees.
Profit share from challenges offers a lucrative opportunity for successful traders.
MT5 and MT4 platforms supported, along with Expert Advisors (EAs), enhancing trading automation and strategy execution.
Refundable fee once becoming a funded trader, providing an additional incentive.
Good range of challenge models catering to different trading styles and preferences.
Free competitions offer a chance to win prizes and gain valuable trading experience.
Cons
No strict overseeing can lead to a lack of structured guidance for traders.
The pathway to becoming a funded trader can be challenging and may deter some participants.
Limited range of tradable instruments may restrict trading opportunities.
Sole reliance on MetaTrader platforms could be a limitation for traders seeking more diverse platform options.
Traderseed is acknowledged as a legitimate entity that serves as a bridge between traders and the FTMO prop firm, providing access to discounted FTMO challenges due to its partnership agreement. Unlike traditional Forex Brokers, Prop Trading firms operate without a Forex Broker license, leading to significantly less regulation. They are not monitored by the industry's standard regulatory bodies, making them not as safe at the highest level. The entire operation, including funding for trading activities, is managed by the company itself, which necessitates a thorough understanding of all associated risks.
Is Traderseed Scam?
Our examination of the company's official website revealed no indications of Traderseed being a fraudulent operation. However, given the minimal regulation of Prop Trading Firms by financial authorities, it's challenging to definitively categorize the firm's nature. Our professional advice emphasizes the importance of extensive research into Prop Trading, understanding the inherent risks, and opting for companies with a solid reputation and years of operation for a more stable proposition. Since only subscription fees are involved rather than substantial personal investment in trading, potential financial losses are relatively lower compared to direct trading with personal funds.
Traderseed Challenge Evaluation Rules ▲
This section of our review focuses on the structure and prerequisites of the Traderseed evaluation challenge. The challenge aims to identify potential proprietary traders by assessing their trading proficiency. Traderseed's evaluation process is divided into two phases, each with profit targets based on the chosen account size. Phase 1 enforces stricter rules, while Phase 2 allows for more lenience, especially regarding drawdown, to evaluate the long-term sustainability of trading strategies.
Account Balance and Registration Fee ▲
Before accessing Traderseed’s portal, you must decide on the account model and balance you aim to qualify for. This choice influences both the challenge conditions and the registration fee required to participate. However, it's noteworthy that Traderseed reimburses the fee upon achieving Funded Trader status. Below is our Registration Fee comparison table for a detailed overview:
TraderSeed presents three primary challenges: the 20X Challenge, the 30X Quest, and the Aggressive 20X Challenge. Each is designed to cater to various levels of trading experience and risk appetite, featuring industry-leading loss limits, practical leverage, the ability to trade significant account sizes, and personalized support throughout the trading process.
The profit objectives for TraderSeed challenges, including the 20x and 30x challenges, vary, requiring participants to achieve a certain percentage of profit related to their account balance to progress or complete the challenge.
TraderSeed's challenges come with different maximum loss limits to support diverse trading strategies and risk preferences. For example, their programs include an industry-leading 15% Maximum Loss limit, offering traders a substantial margin to manage their trades effectively while experiencing real market conditions and maintaining a safety net against considerable account losses.
TraderSeed challenges impose no obligatory minimum trading period. This flexibility allows participants to advance through the levels at their own pace, provided they meet the set objectives without being constrained by a specific number of trading days.
TraderSeed does not provide a free trial for its unique trading challenges. Instead, the platform operates on a model where participants engage in structured, paid challenges. These challenges are meticulously designed to offer traders the chance to earn financial payouts, contingent upon their success in meeting predefined objectives. This approach emphasizes a real-world trading environment where performance and adherence to the challenge criteria determine the rewards, mirroring the dynamics of actual trading markets. The absence of a free trial can be viewed as part of the platform's commitment to creating a more authentic and goal-oriented trading experience for its users.
Profit Split
TraderSeed, in collaboration with FTMO, introduces a profit-sharing scheme where traders retain an ample portion of their earnings following the successful completion of challenges. The exact share of profits that traders receive varies with the selected challenge and account size, with premium challenges granting a higher percentage of profits to the trader.
Trading Instruments
TraderSeed enables its participants to trade across a wide array of instruments, including forex pairs, commodities, indices, and cryptocurrencies. This diversity allows traders to apply various strategies across multiple markets, enhancing their trading experience.
Pros
Wide range of trading instruments
Allows for diverse trading strategies
Cons
None
Commission
Through its affiliations with brokers like Axi, TraderSeed provides competitive commission rates for its trading challenges. The commissions are structured to be low, ensuring that traders can maximize their profits. However, these rates may differ based on the challenge and account type.
Leverage
Offering leverage up to 100:1 in certain challenges, TraderSeed caters to traders who pursue high-risk strategies and require substantial buying power. This option is particularly available in challenges tailored for traders adept at navigating significant leverage and risk.
Traderseed App Platform
The trading challenges of TraderSeed are primarily accessible through its website and potentially via standard trading platforms such as MetaTrader 4, depending on the challenge stipulations.
Trading Conditions
TraderSeed supports favored trading conditions, including News Trading, Swing Trading, EA Trading, and Weekend Holding. The platform also permits Copy Trading from another TraderSeed account, broadening the spectrum for strategy-oriented traders. However, it is crucial to note the disallowance of High-Frequency Trading, Latency Trading, and Arbitrage.
Traderseed Promotions
The company periodically offers promotions, including coupons and discounts for TraderSeed, although these are subject to availability and may be time-limited. Traders are encouraged to check the current offers when registering.
Payout and Withdrawals
In association with FTMO, TraderSeed disburses payouts to traders who successfully complete their challenges, with a profit-sharing arrangement allowing traders to retain a significant portion of their earnings. The payout process and withdrawal terms are straightforward, facilitating easy access to funds post-challenge completion. For precise details regarding payout amounts, timing, and procedures, it is recommended to consult directly with TraderSeed’s or FTMO’s official platforms.
While TraderSeed offers a comprehensive trading challenge platform, exploring alternatives could provide additional opportunities for traders seeking different conditions or benefits. It is advisable for traders to conduct thorough research among a pool of 1000 brokers to find the best fit for their trading style and preferences.
