Have you heard of a prop firm called Consummate Traders? Are you someone who trades? Do you find it challenging to attain your financial objectives because you lack sufficient capital for trading? If you are, worry no more. In this article, you will find out how Consummate Traders are going to solve these issues for you.
As numerous new proprietary trading firms are emerging in the market and providing forex traders with funding of up to $1,000,000, it can be challenging to determine which firm is most suitable for you to collaborate with. Each prop firm possesses its advantages, disadvantages, and regulations that may benefit or hinder forex traders, depending on their trading preferences in the market.
At Consummate Traders, they provide you with funding and take care of the risk so you can enjoy up to 90% of the profits that you make. Let’s dig further.
What is Consummate Traders?
Consummate Traders is a proprietary trading company that provides retail traders with enough capital for them to achieve the popular phrase; financial freedom. Consummate Traders lets you trade over 1000 instruments including stocks, crypto, forex, and lots more.
Thanks to its excellent reputation and comparable trading conditions, the company is quickly emerging as a significant contender against some of the most prominent and established firms. As time passes, it becomes increasingly evident that Consummate Traders are experiencing the most rapid growth they deserve.
How does Consummate Traders work?
Getting started with your trading journey is simple with Consummate Traders. You have the opportunity to begin seeing returns immediately by trading up to $5,000 – $400,000 with no complications. For those seeking a challenge, managing an impressive $200,000 in trading capital is also an option.
Consummate Traders stands out from the rest when it comes to profits. They provide an impressive 90% payout on profits with no obligations attached. This means that you can retain most of your earnings and achieve your financial objectives more rapidly.
Consummate Traders acknowledges that embarking on a new trading adventure can be daunting. Therefore, they provide a free trial for those who want to dip their toes in before committing. If you do choose to participate, you don’t have to be concerned about undisclosed fees or ongoing expenses. Consummate Traders has a one-time, reimbursable fee that allows you to recover your investment.
The support provided by Consummate Traders does not end there. They have a group of committed experts ready to assist you 24/7, 365 days a year. If you have inquiries regarding your account or need guidance, the support team is available to offer assistance.
If you’re looking to grow a large trading account and potentially pull large profits out of the markets, this could be the company for you.
Read also: FXKudi Review: Is it reliable or not? Find out!
Consummate Traders Rules
Consummate traders Evaluation rules
1. Risk Management
The number one technique in becoming a good and successful trader is proper risk management. We give enough time for traders to scale to the next phase, if you didn’t hit the target at the end of the specified time, get in touch so we can consider giving you an extension or retaking the evaluation.
2. Evaluation Phases and Targets
i. Phase I Evaluation: This phase is set to test your skills and ability to manage risk. You are required to achieve a profit target of 8% within 60 calendar days. An extension may be granted on request
ii. Phase II Evaluation: This phase overall confirms that yes indeed you are a good trader that follows rules. You are required to achieve a profit target of 5% within 60 calendar days. An extension may be granted on request.
NOTE: The countdown starts from the time the first trade is taken.
3. Maximum Funded Account Per User
The maximum number of funded accounts per user is $600,000. This means that no user can have more than $600,000 in total across all their funded accounts at any given time.
4. Trading Behaviour
We advise traders to be wary of their risk management profile, therefore, having a good trading plan, strategy, and risk management will enable you to complete the evaluation. However Consummate Traders ALLOW news trading, swing trading, scalping, etc. But traders should note that the market has the highest volatility during events and news.
5. Instruments and Trading Hours
Consummate Traders offers some of the best products available for traders, you can trade FOREX, INDICES, SYNTHETIC INDICES, CRYPTOCURRENCIES, COMMODITIES, STOCKS, and CFDs.
NOTE: Now and then, the product list may be updated based on the availability of liquidity, margin leverage, and other factors, and we may remove a product should there be users not passing the evaluation phases due to those products. Traders can hold trades overnight, but all positions must be closed 15 minutes before market closing time on Friday. Except for SYNTHETIC INDICES AND CRYPTOCURRENCIES which can be traded on WEEKENDS.
6. Expert Advisors
Consummate Traders allow EA trading. We DO NOT allow latency arbitrage, reverse arbitrage, gap trading, opposite account trading, or any trading activities that take advantage of the inefficiencies of the MetaTrader platform. ANYONE part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool and will consequently result in account suspension and subsequent termination. We advise traders to send us their source code if they wish.
7. Profit Split
After the evaluation phase, consummate traders will pay you at the end of the first month and subsequently, you get paid bi-weekly. Below is how traders will get paid in the evaluation phase:
8. Draw Down
The Evaluation phase offers an overall drawdown limit of 12% and a 6% daily drawdown of starting balance. Breaching this will result in the termination of the account.
NOTE: Consummate traders may review a terminated account if a trader breached a drawdown rule whilst in profit. If you follow a proper risk management practice (Position size, number of trades, etc), we may be forgiven to issue you your profit at the time of termination if appealed. However, we will not issue any payout of your profits if our review showed that you participated in risky trading and breached a drawdown rule.
9. Consistency
Consummate traders are looking for consistent traders, not gamblers. We help traders with consistent rules that will guide them through their trading journey. Violation of this rule may result in account suspension and subsequent termination.
When a trader keeps within 200% score of the weekly average by a deviation of 2, we say it is a decent way to increase or decrease risk consistency and the three (3) Key Performance Index (KPIs) we use are; Lot sizes, trades, and several trading days.
10. Scaling Up
Consummate traders aim at offering an incremental payout system to traders. Therefore, if you achieved a profit of 10% or more within 3 months consecutively, your account size will be increased by 20% on request. Upon request, a trader should be breakeven or positive with the account balance.
11. Losses
No traders at Consummate Traders are liable for losses. However, we ENCOURAGE traders to practice good risk management and follow a good trading plan.
12. Resets
Mistakes can happen and we understand that. If you breached one of the rules, you are entitled to a discounted reset of that account.
Prices are: $5K, $10K, $25K, $50K, $100K, $200K, $400K
13. Refunds
Consummate traders will refund all traders who pass the evaluation phase on their first profit-split period at the end of the first month. Not only will you receive the first month’s payout, but additionally you will receive your fee and 15% of the evaluation model profits.
14. Account Credential Safety
Traders are responsible for ensuring account safety. We don’t reinstate accounts that have been hacked or distributed to third parties for trading and loss. In case such get in touch with our team as quickly as you can so we can handle the situation and run you through security protocols.
15. Inactivity
If you are planning to take a break from trading, you can reach out to us so that we will pause your trading account. A 30-day inactive account will automatically be archived and If you do not reach us within 10 days with the reason for the inactivity, we will permanently suspend the account.
16. Lacuna
Consummate Traders reserve the right to reiterate, change and add to these rules.
Consummate traders Express Rules
1. Risk Management
We always emphasize on risk management, know your risk appetite and have a good trading plan.
2. Earnings
There are two ways you can earn with the Express model.
i. The Lite Model earning: The lite earning allows you to earn 90% of the profit.
ii. The Pro Model earning: The pro earning allows you to earn up to 70% of the profit you make. There is no time limit or pressure to reach any profit target within a restricted period.
3. Maximum Funded Account Per User
The maximum number of funded accounts per user is $600,000. This means that no user can have more than $600,000 in total across all their funded accounts at any given time.
4. Trading Behaviour
We advise traders to be wary of their risk management profile, therefore, having a good trading plan, strategy, and risk management will enable you to complete the evaluation. However Consummate Traders ALLOW news trading, swing trading, scalping, etc. But traders should note that the market has the highest volatility during events and news.
5. Trading Days
Making things easier for traders is our middle name, we make sure traders relax and take a minimum of 10 trades in a month or 3 trades per week, must not be consecutively, and you can take as many trades as you want without exceeding your risk. If this requirement is not met, consummate traders will RESET your account balance to starting balance at the end of the month.
6. Instruments and Trading Hours
Consummate Traders offers some of the best products available for traders, you can trade FOREX, INDICES, SYNTHETIC INDICES, CRYPTOCURRENCIES, COMMODITIES, STOCKS, and CFDs.
NOTE: Now and then, the product list may be updated based on the availability of liquidity, margin leverage, and other factors. Traders can hold trades overnight, but all positions must be closed 15 minutes before market closing time on Friday. Except for SYNTHETIC INDICES AND CRYPTOCURRENCIES which can be traded on WEEKENDS.
7. Expert Advisors
Consummate Traders allow EA trading. We DO NOT allow latency arbitrage, reverse arbitrage, gap trading, opposite account trading, or any trading activities that take advantage of the inefficiencies of the MetaTrader platform. ANYONE part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool and will consequently result in account termination. We advise traders to send us their source code if they wish.
8. Risk and Account Management
Consummate Trader’s daily loss limit dictates that you are permitted to lose 5% of your initial balance on any given day, and your maximum overall drawdown is 10%, that is to say, your account balance/equity can’t go below 90% of the initial balance at any given day. Consummate traders always encourage traders to stick to proper risk management and a good trading plan. In any account size, a 5% drawdown or higher will result in account suspension, our team will review whether proper risk management is implemented before we can lease the account back only on request.
9. Consistency
Consummate traders are looking for consistent traders, not gamblers. We help traders with a consistent rules that will guide them through their trading journey. Violation of this rule may result in account suspension and subsequent termination.
When a trader keeps within 200% score of the weekly average by a deviation of 2, we say it is a decent way to increase or decrease risk consistency and the three (3) Key Performance Index (KPIs) we use are; Lot sizes, trades, and several trading days.
10. Scaling Up
Consummate traders aim at offering an incremental payout system to traders. Therefore, if you achieved a profit of 10% or more within 4 months consecutively, your account size will be increased by 20% up to 1 million dollars on request. Upon request, a trader should be breakeven or positive with the account balance.
11. Losses
No traders at Consummate Traders are liable for losses. However, we ENCOURAGE traders to practice good risk management and follow a good trading plan.
12. Resets
An account that incurs a violation will be suspended and not will qualify for any payout. Traders with account violations are entitled to a discount price should they want to continue with the program.
Prices are; $5K, $15K, and $25K, $50K
13. Account Credential Safety
Traders are responsible for ensuring account safety. We don’t reinstate accounts that have been hacked or distributed to third parties for trading and loss. In case of such get in touch with our team as quickly as you can so, we can handle the situation and run you through security protocols
14. Inactivity
If you are planning to take a break from trading, you can reach out to us so that we will pause your trading account. A 30-day inactive account will automatically be archived and If you do not reach us within 10 days with the reason for the inactivity, we will permanently suspend the account.
15. Lacuna
Consummate Traders reserve the right to reiterate, change and add to these rules.
Consummate traders Synthetic Rules
1. Risk Management
The number one technique in becoming a good and successful trader is proper risk management. We give enough time for traders to scale to the next phase, if you didn’t hit the target at the end of the specified time, get in touch so we give you an extension or retake the evaluation.
2. Synthetics Evaluation Phases and Targets
i. Phase I Synthetics Evaluation: This phase is set to test your skills and ability to manage risk. You are required to achieve a profit target of 10% within 30 calendar days. An extension may be granted on request
ii. Phase II Synthetics Evaluation: This phase overall confirms that yes indeed you are a good trader that follows rules. You are required to achieve a profit target of 8% within 30 calendar days. An extension may be granted on request.
NOTE: The countdown starts from the time the first trade is taken.
3. Maximum Funded Account Per User
The maximum number of funded accounts per user is $600,000. This means that no user can have more than $600,000 in total across all their funded accounts at any given time.
4. Trading Behaviour
We advise traders to be wary of their risk management profile, therefore, having a good trading plan, strategy, and risk management will enable you to complete the evaluation. However Consummate Traders ALLOW news trading, swing trading, scalping, etc. But traders should note that the market has the highest volatility during events and news.
5. Instruments and Trading Hours
For the Synthetic Package, Consummate Traders offers some of the best SYNTHETIC PAIRS available for traders. NOTE: Now and then, the product list may be updated based on the availability of liquidity, margin leverage, and other factors, and we may remove a product should there be users not passing the evaluation phases due to those products.
6. Expert Advisors
Consummate Traders allow EA trading. We DO NOT allow latency arbitrage, reverse arbitrage, gap trading, opposite account trading, or any trading activities that take advantage of the inefficiencies of the MetaTrader platform. ANYONE part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool and will consequently result in account suspension and subsequent termination. We advise traders to send us their source code if they wish.
7. Profit Split
After the evaluation phase, consummate traders will pay you at the end of the first month and subsequently, you get paid bi-weekly. Below is how traders will get paid in the evaluation phase:
8. Draw Down
The Synthetics Evaluation phase offers an overall drawdown limit of 10% and a daily drawdown of 5% of starting balance. Breaching this will result in the termination of the account.
NOTE: Consummate traders may review a terminated account if a trader breached a drawdown rule whilst in profit. If you follow a proper risk management practice (Position size, number of trades, etc), we may be forgiven to issue you your profit at the time of termination if appealed. However, we will not issue any payout of your profits if our review showed that you participated in risky trading and breached a drawdown rule.
9. Consistency
Consummate traders are looking for consistent traders, not gamblers. We help traders with consistent rules that will guide them through their trading journey. Violation of this rule may result in account suspension and subsequent termination.
When a trader keeps within 200% score of the weekly average by a deviation of 2, we say it is a decent way to increase or decrease risk consistency and the three (3) Key Performance Index (KPIs) we use are; Lot sizes, trades, and several trading days.
10. Scaling Up
Consummate traders aim at offering an incremental payout system to traders. Therefore, if you achieved a profit of 10% or more within 3 months consecutively, your account size will be increased by 20% on request. Upon request, a trader should be breakeven or positive with the account balance.
11. Losses
No traders at Consummate Traders are liable for losses. However, we ENCOURAGE traders to practice good risk management and follow a good trading plan.
12. Retakes and extension
We notice that it takes more time for traders with standardized risk management to excel in the evaluation phase, we got you covered. If you exceed the specified time limit for each phase without any breaches on your account and have reached up to 6% of your target, you are entitled to up to 2 weeks. Only traders using proper risk management practices are entitled to extensions and some degree a free retake.
13. Account Credential Safety
Traders are responsible for ensuring account safety. We don’t reinstate accounts that have been hacked or distributed to third parties for trading and loss. In case such get in touch with our team as quickly as you can so we can handle the situation and run you through security protocols.
14. Inactivity
If you are planning to take a break from trading, you can reach out to us so that we will pause your trading account. A 30-day inactive account will automatically be archived and If you do not reach us within 10 days with the reason for the inactivity, we will permanently suspend the account.
15. Lacuna
Consummate Traders reserve the right to reiterate, change and add to these rules.
Why You Should Buy An Account With Consummate Traders
As an aspiring trader who wants to make money from the financial market but you want to use a prop firm, it is best to choose consummate traders.
Consummate traders don’t just come as a recommended prop firm but I am here to tell you why consummate traders are the right choice for you.
Features of Consummate traders
1. Easy Entry: Trade up to $50,000 without going through any challenges. Just like that.
2. Challenge: If you’re down for a challenge, you get to manage a gargantuan capital of up to $400,000
3. Huge Payout: You do the work so it’s only fair you take the bigger cut. You get up to 90% of the profits with no strings attached.
4. Free Trial: If you don’t want easy entry and you are also not ready for a challenge, here you go; the free trial. There’s no payout in the free trial.
5. Refundable Fee: No monthly fee. No hidden costs. No recurring costs. Just a one-time fee. You get to earn it back too.
6. Great Support: Get support from the most beautiful set of people. We’re here for you 365/24/7. Just Kidding, we also take breaks once in a while.
Types of consummate traders account
Evaluation Account
| Accounts | $5,000, $10,000, $25,000, $50,000, $100,000, $200,000, $400,000 |
| Profit Target | Phase I = 8% (60-Days) Phase II = 5% (60-Days) |
| Leverage | 1:100 |
| Min. Trading Days | No minimum trading days |
| Scaling Up | Scale-up by 20% after every 10% made within 3 consecutive months |
| Max Daily Loss | $300, $600, $1,500, $3,000 $6,000, $12,000, $24,000 |
| Max Loss (DD) | $600, $1,200, $3,000, $6,000, $12,000, $24,000, $48,000 |
| Profit Split | First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee Second Funded Month – 85% profit Subsequent Months – 90% |
| Refundable Fee | $49, $84, $199, $299, $499, $979, $1,849 |
Express Lite
| Accounts | $5k, $15k, $25k, $50k |
| Profit Target | 10% within 2 months, then no target afterward |
| Leverage | 1:100 |
| Min. Trading Days | No minimum trading days |
| Scaling Up | 20% scaling for every 15% made within 3 months after the assessment phase |
| Max Daily Loss | 6% |
| Max Loss (DD) | 10% |
| Profit Split | 80% profit split + 15% for the first month after the assessment phase |
| Refundable Fee | $69, $169, $269, $499 |
Express Pro
| Accounts | $5k, $15k, $25k, $50k |
| Leverage | 1:100 |
| Min. Trading Days | 5 trading days |
| Scaling Up | 20% scaling for every 15% made within 3 months |
| Max Loss (DD) | 5% |
| Profit Split | 70% |
| Refundable Fee | $229, $669, $1,119, $2,229 |
Minimum withdrawal on Consummate Traders
The minimum withdrawal on Consummate Traders is $100. This Is applied to all the accounts offered by Consummate Traders.
Which broker does Consummate Traders use?
They provide their customers with the best experience and that is why they make use of Kwakol Markets PTY Limited as their broker. They are ASIC regulated and provide the lowest spread with an MT4 trading platform along with rock-solid, reliable infrastructure enhanced with transparent and personalized service.
How to sign up and get an account on Consummate Traders
Signing up is easy. After signing up, simply go to the programs page, pick a program that fits your trading style, and select a plan for your account size! Complete your registration by paying the fees associated with the account. You will receive your account credentials in just a few moments. Make sure you have read and understood all the program rules. To sign up, click here.
Founder of Consummate Traders
Damilare Ogundare popularly Known as HabbyFX or Habby Forex is the founder and CEO of Consummate Traders. He is considered by many Nigerians in the Foreign Exchange industry to be the Richest young Trader in Nigeria.
Is Consummate Traders Legit?
Consummate Traders is a legit and very reliable prop firm. The CEO of Consummate Traders who is also known as Damilare Ogundare popularly Known as HabbyFX or Habby Forex is a very influential forex trader who has helped many people to break free from poverty and also helped them to enhance their skills in his academy.
You can contact us to help you set up your account and passing of prop firm challenges for you.
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