Is takeprofittrader.com Legit?

When examining the legitimacy of takeprofittrader.com, it’s crucial to dissect their operational model, regulatory posture, and user claims.

While they present themselves as a straightforward funding company, the intricacies of their “simulated” PRO accounts and the nature of futures trading itself warrant careful scrutiny.

The question of legitimacy isn’t just about whether they deliver on their promises, but also about the underlying ethical and financial prudence of their model.

Understanding Their Business Model and How They Pay Out

Take Profit Trader’s model involves charging subscription fees for “test accounts” where traders prove their ability. Once successful, they advance to a PRO account.

Crucially, PRO accounts are simulated, meaning trades aren’t executed on live exchanges.

Profits from these simulated accounts are still paid out as real money.

• Revenue Streams: The company states, “Take Profit Trader pays you on any simulated profits withdrawn from your PRO account. These payouts come from a combination of collected test fees, tech fees, and shared PRO+ profits when applicable.” This means a significant portion of their payout ability relies on the continuous influx of new test fees.
• Simulated vs. Live: This distinction is pivotal. While PRO accounts are simulated, PRO+ accounts (an upgrade) are live. This tiered approach suggests that only a select few ultimately engage in real market trading through the firm.
• The “Funded” Misconception: The term “funded” often implies real capital being provided for live trading. In the case of PRO accounts being simulated, “funding” takes on a different meaning—it’s more akin to a performance-based bonus system paid from the firm’s general revenue.

Regulatory Status and Affiliations

The website addresses the question of regulation directly, stating, “The National Futures Association (NFA) nor the CFTC require that Take Profit Trader (or any futures funding firm) be part of any organization.” They emphasize that they use regulated brokers (Tradovate, NinjaTrader) and CME-approved data providers.

• No Direct Regulation: This is a common characteristic of proprietary trading firms that do not directly manage client funds or act as brokers. They operate outside the direct regulatory oversight applied to brokers and investment advisors.
• Reliance on Third-Party Regulation: Their legitimacy largely rests on the regulation of their underlying technology and data providers. “We take regulation seriously, and therefore only use regulated brokers and CME approved data providers… This means that all customers across all phases of our programs can rest assured that Take Profit Trader never touches, fills, manipulates, delays orders, or uses any software to be the counterparty of any trade, whatsoever.”
• Transparency in Broker Use: They explicitly state, “We are not affiliated with them at all, meaning we get no kickbacks, referral fees, or commissions from your trades,” which is a positive sign against potential conflicts of interest.

User Experiences and Testimonials (Trustpilot and On-Site)

The website features positive testimonials, and they link directly to their Trustpilot page. My Experience with trysuri.com

As of the current review, Trustpilot shows a generally positive sentiment, often highlighting prompt payouts and customer service.

• Positive Payout Feedback: Many users praise the speed and reliability of withdrawals, even from simulated PRO accounts. This aligns with the firm’s core promise of “day one payouts.”
• Customer Support: Consistent positive remarks about their 24-hour live support indicate a responsive and helpful customer service team.
• Concerns on Test Difficulty/Failure Rates: While not always explicit in testimonials, the firm’s own FAQ admits, “Trading is extremely difficult… 20.37% of our currently registered users at Take Profit Trader have successfully passed a trading test.” This high failure rate is a critical piece of information for prospective users.

The Ethical Stance on Futures Trading and its Implications

While takeprofittrader.com operates within a legal framework for prop firms, the underlying activity of futures trading, particularly for speculative gain, raises significant ethical considerations.

Futures contracts are derivative instruments, and their trading often involves high leverage, which magnifies both potential gains and losses.

This can lead to financial distress for individuals.

• Speculation (Gharar): Futures trading inherently involves a high degree of uncertainty regarding future price movements, making it a speculative endeavor. This level of gharar is often considered problematic.
• Gambling (Maysir): The model where one pays a fee for a chance to win a payout based on speculative performance, particularly in a simulated environment, can resemble a game of chance or gambling. The fee is a non-refundable entry cost for a potential return that is not tied to productive economic activity but rather to price fluctuations.
• Lack of Tangible Value Creation: Unlike investments in real businesses, assets, or services, speculative futures trading does not directly contribute to the production of goods or services. It is a zero-sum game where one’s gain often comes directly from another’s loss, without adding new value to the economy.

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