Fast Track Trading is an emerging funded trader program that offers traders the opportunity to trade with significant capital without the traditional evaluation phase. This review explores its key features, benefits, and potential drawbacks to help you determine if it’s the right choice for your trading career.
Key Features
1. Instant Funding
One of the standout features of Fast Track Trading is the immediate funding of accounts. Traders can start trading with virtual funds right away, bypassing the usual evaluation steps that other firms require. This allows traders to dive into the market quickly and begin profiting almost immediately.
2. One-Time Fee
Unlike many other funded trading programs that charge monthly fees, Fast Track Trading requires a single, upfront payment. This can be a more cost-effective option for traders who prefer not to deal with recurring charges.
3. Flexible Account Management
Traders can manage up to 20 funded accounts simultaneously, offering a high degree of flexibility. This allows for diversified trading strategies and the potential to maximize profits. Additionally, trade copiers are allowed, which is beneficial for those managing multiple accounts.
4. Payout Structure
Fast Track Trading offers a tiered payout system with two phases:
- Phase 1: Traders can receive a payout within five days by achieving a daily profit target. This initial phase allows for quick access to up to $2,000 per account.
- Phase 2: Subsequent payouts can be made bi-weekly, provided the trader maintains consistent performance, without any minimum daily profit threshold.
Payout Rules
- For the initial 5-day payout, traders must achieve a daily profit of 20% of their profit buffer. For example, if the buffer zone is $1,250, the trader needs to earn at least $250 per day.
- After five consecutive profitable days, traders can withdraw up to $2,000 from their account.
- For subsequent payouts every 10 trading days, there are no minimum daily profit thresholds, but traders must adhere to a 20% consistency rule.
- Withdrawals are processed within 48 hours, with different processing times depending on the method: ACH (5-7 business days), Wire (2-3 business days), Crypto (1-2 business days).
5. No Evaluation Rules
There are no evaluation phases or stringent rules to adhere to before starting to trade, which can be a significant advantage for experienced traders looking to avoid the time-consuming evaluation processes common with other firms.
6. Platform Compatibility
Fast Track Trading supports several trading platforms compatible with Rithmic, including Quantower, R|Trader Pro, ATAS, Bookmap, and Sierra Charts. However, it’s important to note that NinjaTrader licenses are not supported as of early 2024.
Pros and Cons
Pros
- No Monthly Fees: The one-time payment structure eliminates ongoing charges.
- Quick Payouts: The ability to receive a payout within five days is a significant advantage.
- Flexible Trading Rules: Traders can hold multiple accounts and trade during news events without daily drawdown restrictions.
- Diverse Trading Instruments: Fast Track Trading offers a wide range of futures and other instruments, allowing for diverse trading opportunities.
Cons
- Higher Initial Cost: The initial fee can be higher compared to other programs that include an evaluation phase.
- No Overnight Positions: Traders must close positions daily by 4:15 PM EST, which may not suit all trading strategies.
Conclusion
Fast Track Trading offers a compelling option for traders who want to skip the traditional evaluation phase and start trading with significant capital immediately. Its flexible rules, quick payout system, and one-time fee structure make it an attractive choice for experienced traders seeking efficiency and straightforward access to funds. However, the higher initial cost and the requirement to close positions daily might not align with every trader’s preference.
If you’re a trader looking for a no-hassle funded account with immediate access to capital and liberal trading rules, Fast Track Trading could be the right choice for you.
For more detailed information, you can visit their official WebSite
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KEERTHISH KODALI (Sunny) is the founder of www.MyBlogStory.com . He is very friendly guy ,who wants whole world to be united without any border. He is passionate about blogging. He is a DevOps engineer, Systems Engineer, Data Center Analyst , Professional Blogger and an addicted Web Designer. Ofcourse a Stock Traders and Crypto Investor ~~~ Read More
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