T3 Trading Group is going to be funding traders

[chris500]

T3 Trading Group is going to be funding traders, apparently. Via TradeFundrr, LLC - tradefundrr.com

They haven't launched yet it looks like, but they have an app. Anybody familiar with their plans and the launch date?

Quote from the tradefundrr website (the small print all the way on the bottom):

"It is our mission to successfully fund an average of 20 qualified traders per month, starting with a minimum $100,000 in funding per trader and growing to as much as $10,000,000 in funding for those traders that prove themselves through performance. For an aggregate amount of funding deployed of 1 billion dollars by year end 2030. Funding provided is buying power (in the real market, NOT simulated) by T3 Trading Group, LLC (“T3TG”), a registered broker dealer with the Securities and Exchange Commission and a member of FINRA and SIPC, or T3 Global, LCC (“T3G”), a Unit of T3 Companies. Funding is conditional on meeting the stipulated simulated performance goals provided by TradeFundrr, LLC and meeting the eligibility requirements set forth by T3TG or T3G in its sole discretion."

 

[Laissez Faire]

Interesting.

I talked with them a while back and they seem serious, but the deal they offered me didn't seem to make sense for me at the time. I had to put up first-loss capital. In the end, there would be no advantage to me as I could simply utilize day trading margins with a discount broker achieving the same result. The only advantage would be that I could hold more contracts through the electronic close than I could with my own account. And that's not really something I need.

The other alternative they offered was funding if providing a track record. Something I couldn't provide then.

Maybe trading with them while putting up first loss capital could eventually lead to fully funding if performance is good.

I don't know anything about this new deal, but I will keep an eye on it. They definitely seem to be different than the dozens of pay-to-trade-in-simulator firms.

 

[Overnight]

T3 Trading Group is going to be funding traders, apparently. Via TradeFundrr, LLC - tradefundrr.com

They haven't launched yet it looks like, but they have an app. Anybody familiar with their plans and the launch date?...

Doesn't pass the sniff test.

"+Users qualifying for Retail Trader Funding from authorized countries who follow their selected qualification rules, are eligible to earn performance based payouts on simulated trading performance. All trading is executed in a simulated account provided by TradeFundrr, LLC with payout being based on simulated performance (performance based trading). Real-money payouts are contingent on the users trading performance adhering to the stipulated risk management and performance rules of the TradeFundrr, LLC “Pre-Prop Account” sim trading account. The lifetime payout per user in the Retail Trader Funding “Pre-Prop Account” is limited to $100,000. There is no time limit to achieve maximum payout. However, the first payout from simulated performance earnings in the Retail Trader Funding Pre-Prop Account begins 30 days after the initial start day (day of first trade)."

 

[fan27]

Doesn't pass the sniff test.

"+Users qualifying for Retail Trader Funding from authorized countries who follow their selected qualification rules, are eligible to earn performance based payouts on simulated trading performance. All trading is executed in a simulated account provided by TradeFundrr, LLC with payout being based on simulated performance (performance based trading). Real-money payouts are contingent on the users trading performance adhering to the stipulated risk management and performance rules of the TradeFundrr, LLC “Pre-Prop Account” sim trading account. The lifetime payout per user in the Retail Trader Funding “Pre-Prop Account” is limited to $100,000. There is no time limit to achieve maximum payout. However, the first payout from simulated performance earnings in the Retail Trader Funding Pre-Prop Account begins 30 days after the initial start day (day of first trade)."

Kind of like this:

 

[moskvich]

Here's my take on this:
Thats their way to get you to open and trade the sim account (you have nothing to lose,
and can even get paid $$). Most likely you're positive, but fail their criteria to get paid.
At which point (as you got used to the platform and P/L) they just pitch you the regular customer account deal

 

[trdX]

Any news on this? Anyone tried it already? Looks promising ..

 

[traderjo]

Interesting.

I talked with them a while back and they seem serious, but the deal they offered me didn't seem to make sense for me at the time. I had to put up first-loss capital. In the end, there would be no advantage to me as I could simply utilize day trading margins with a discount broker achieving the same result. The only advantage would be that I could hold more contracts through the electronic close than I could with my own account. And that's not really something I need.

The other alternative they offered was funding if providing a track record. Something I couldn't provide then.

Maybe trading with them while putting up first loss capital could eventually lead to fully funding if performance is good.

I don't know anything about this new deal, but I will keep an eye on it. They definitely seem to be different than the dozens of pay-to-trade-in-simulator firms.

What were the term for "First Loss" type funding? and was it about equity or Futures?

 

[wmwmw]

1.Trailing drawdown;
2.Profit target vs drawdown too high so too difficult to pass challenge.
3. The worst part is once you pass step 1 challenge you need to make 500% to get payout in step 2 and 300% to get payout in step 3. So it is significantly worse than other firms.

 

[wmwmw]

Most elite traders are ignorant on prop firms.
So most traders here choose firms like topsteptrader,earn2trade and apex.
Those firms are the worst firms in the industry.
To analyze a firm is good or not, drawdown is the most important criterion:
drawdown is the fund you get from prop firms.
So compare drawdown with profit target to see if a challenge is difficult to pass; compare drawdown with price to see if it is expensive.
Other things to consider:
trailing drawdown is a big negative;
monthly fee is much more expensive than an one time fee: anyone thinks he can pass challenge in one month needs to think twice, as profit target is not as firms claimed 10%, but 125% in this case, ( and 183% in earn2trade challenge).
You will also incur monthly exchange fee once you get funded.

 

[traderjo]

Most elite traders are ignorant on prop firms.
So most traders here choose firms like topsteptrader,earn2trade and apex.
Those firms are the worst firms in the industry.
To analyze a firm is good or not, drawdown is the most important criterion:
drawdown is the fund you get from prop firms.
So compare drawdown with profit target to see if a challenge is difficult to pass; compare drawdown with price to see if it is expensive.
Other things to consider:
trailing drawdown is a big negative;
monthly fee is much more expensive than an one time fee: anyone thinks he can pass challenge in one month needs to think twice, as profit target is not as firms claimed 10%, but 125% in this case, ( and 183% in earn2trade challenge).
You will also incur monthly exchange fee once you get funded.

Good point about Drawdown
At the end of the day most of these models are there to make money from failed test fees or a ploy to get you to open a OTCFX account .. ( saw one recently which says NO Tets fees but you must open an 2000 account with XYZ broker and show us your trade and then we will consider you.. you then click on the"Broker" account it seems to have links with this "Prop" something fishy again and yes the Broker is OTC FX/ CFD) so this T3linked thing sound interesting but need more clarity .. equity or Futures? SEC exams? and is the "funding company" actually a licensed broker dealer etc