City Traders Imperium Review 2024
Website: www.citytradersimperium.com
Min. Deposit: US$ 39
Leverage: Up to 1:33
Trading Platforms: MT5
Regulation: UK
Headquarters: UK
Founded: 2018
Regulatory Licenses:
- City Traders Imperium Ltd. — registered in UK company number 11463147
Updated on April 29, 2024
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In our comprehensive evaluation of forex brokers, we meticulously analyze each one based on an extensive set of criteria. Our process involves comparing brokers against over 1000 others in the market to ensure a fair and thorough assessment. Factors such as fees, spreads, commission structures, platform usability, customer service, educational resources, and regulatory compliance are taken into consideration. Additionally, we place a high emphasis on user reviews and testimonials to gauge the overall trader experience and satisfaction levels. This holistic approach allows us to provide readers with an unbiased and detailed review of forex brokers.
What is City Traders Imperium?
City Traders Imperium stands out as a proprietary trading firm that specializes in offering various programs aimed at individuals keen on trading without risking their personal funds. This company distinguishes itself by enabling traders to become Funded Traders, thereby granting them the opportunity to trade using the firm's capital. It prides itself on a Profit Share offering of up to 100% and boasts a notable high pass rate, which is evident in its robust community of over 21,000 active traders. As a Proprietary Trading Firm, City Traders Imperium provides traders the unique chance to engage in real trading without the necessity of using their own funds by offering a funded account. Qualification for this opportunity requires traders to successfully complete an evaluation process via one of the firm’s programs. Upon passing, they are granted access to a funded account.
City Traders Imperium Pros Cons ▲
Pros
Lower Profit Target
Good Pricing
Great variety of Balances with Low Registration Fees
Profit Share from Challenge
No limitations on Strategies
Refundable Fee once you become a Funded Trader
Good range of Challenge Programs
Retake Discount
Cons
No Strict Overseeing
It is hard to become Funded Trader
Limited Instrument Range
Only MT5 Platform
Is City Traders Imperium Legit? ▲
Following comprehensive research within the industry, it has been verified that City Traders Imperium Ltd is indeed a legitimate entity, with its headquarters stationed in the UK, a location known for its stringent financial regulations. The firm is celebrated for its impressive success rates and has accumulated a wealth of favorable feedback from its extensive client base. It is critical to acknowledge the distinction between Prop Trading Firms and Forex Brokers; the former operates without a license and typically presents a lower level of security. This is attributed to the fact that the firms themselves provide the capital and are accountable for all profits and losses. Prospective clients should weigh this consideration meticulously before engaging in Prop Trading. Nonetheless, the lack of specific regulation does not suggest a disregard for the general financial regulatory standards of their jurisdiction.
City Traders Imperium Challenge Evaluation Rules ▲
In our detailed examination of City Traders Imperium, a pivotal element to scrutinize is the firm's evaluation criteria alongside the prerequisites for initiating the challenge. This encompasses comprehending the requirements traders must fulfill to pass the evaluation and be granted a Funded account, as well as elucidating the registration fee involved. The primary objective of the prop trading evaluation is to ascertain traders' eligibility for becoming funded traders. City Traders Imperium introduces both 1-step and 2-step evaluation programs, where the 2-phase evaluations entail a more intricate process requiring traders to navigate through multiple stages for success, whereas the 1-phase evaluations consist of a singular, direct assessment.
Account Balance and Registration Fee ▲
Prior to commencement with City Traders Imperium, it is imperative for traders to select from the diverse range of funding programs provided by the company, choosing the one that most closely aligns with their trading objectives. The criteria for obtaining funding vary depending on the selected program and the account size. Furthermore, traders must consider the registration fee associated with each account type, noting that for certain programs, this fee may be refundable. City Traders Imperium offers three distinct funding programs to traders: the 2-Step Evaluation, the 1-Step Evaluation, and the No Evaluation Programs, each with its specific requirements regarding profit targets, profit sharing percentages, and associated fees. In general, the account sizes and related fees proposed by City Traders Imperium are below the average industry standards, potentially presenting an advantageous starting point for numerous traders. The company provides a broad spectrum of account balances, starting from as low as $2,500 to as high as $100,000, coupled with a scaling plan aimed at facilitating traders in maximizing their profits.
The funding programs at City Traders Imperium are accompanied by a set of regulations, which include reaching a predetermined profit target to qualify as a Prop Trader. This target is variable based on the chosen program. In the 2-step evaluation, a 10% profit goal is designated for Phase 1 and a 5% goal for Phase 2. Conversely, both the 1-step evaluation and the no evaluation program mandate a 10% profit target.
Adherence to the established rules is mandatory throughout the challenge phase. Failure to comply will result in the termination of the attempt, granting individuals the option to reinitiate the challenge from the beginning. However, this necessitates payment of an additional retake fee with a 10% discount code provided via email.
An additional vital regulation is the minimum trading period requisite before a trader can conclude the evaluation. For those partaking in the 2-step program at City Traders Imperium, a minimum of 5 days of trading is required in both phases. In contrast, the 1-step and no evaluation programs do not impose any timing restrictions on traders.
Our investigation has determined that City Traders Imperium does not offer a Free Trial option. This practice is prevalent among numerous prop trading platforms, where the evaluation phase is often considered a substitute for a demo account. However, it is noteworthy to mention that the firm distinguishes itself by allowing traders to earn a 50% profit share during their involvement in the 1-Step challenge test.
Once the assessment or challenge is successfully completed, traders will receive their Funded Account, typically activated within a few business days. It's crucial to note that the account's conditions and balance will mirror those of the test you've passed. Should you wish to upgrade to a higher-tier account, you'll need to undergo and pass the challenge anew for the desired Account Balance.
Profit Split
At City Traders Imperium, once you've met the targets and secured your Funded Account, you'll begin trading with an 80% profit share on a City Traders Imperium Account. Impressively, this percentage can climb to as high as 90% or even 100% contingent on your trading performance, a proposition we found highly appealing.
Our analysis of Account Conditions zeroes in on the diversity of account options provided by the Broker, including Platforms, Instruments, and Trading Costs. The Leverage levels and Trading conditions are also crucial, especially since some Brokers might restrict certain strategies in Funded accounts, potentially leading to account forfeiture and necessitating a retest. We delve into these aspects in detail below:
Trading Instruments
City Traders Imperium Commission
City Traders Imperium is noteworthy for its favorable conditions, imposing a mere $2.25 commission per lot per round. The firm also prides itself on some of the industry's narrowest spreads, averaging 0.1 pip for EURUSD.
Leverage
City Traders Imperium allows trading with leverage across all its accounts, providing leverage up to 1:33, which varies depending on the funding program selected by the trader.
City Traders Imperium App Platform
Trading Conditions
City Traders Imperium offers two account settings: Swap Accounts, ideal for swing traders, and swap-free accounts for those looking to avoid overnight fees. Permitted trading conditions include News Trading, Swing Trading, EA Trading, and Weekend Holding, alongside the advantage of Copy Trading from another City Traders Imperium account. However, it's important to note restrictions on High-Frequency Trading, Latency Trading, and Arbitrage. While Slippage is generally not an issue, the company limits trading 5 minutes before and after news announcements, a precaution against potential slippage.
City Traders Imperium Promotions
The company occasionally offers promotions, including City Traders Imperium Coupon codes for discounts, as well as other temporary discounts like the Reset Discount. It's advisable to check these offers at the time of signing up.
Our research indicates that challenges can be paid through various convenient methods without incurring additional processing fees. A notable aspect of City Traders Imperium is the swift Payout process, which the company claims to complete within approximately 5 hours.
Withdrawal Method
For withdrawing funds from your Funded Account, City Traders Imperium provides several convenient methods, including Perfect Money, Crypto Transfers via USDT, USDC, classic Bank Transfer, and Wise.
