Trade the Pool Review 2024
Website: www.tradethepool.com
Min. Deposit: US$ 97
Leverage: —
Trading Platforms: Trader Evolution
Regulation: Israel
Headquarters: Israel
Founded: 2022
Regulatory Licenses:
- Five Percent Online Ltd. — registered in Israel company number 894500CK24MUEFQG0E92
Updated on January 22, 2024
Quick Links
In our quest to provide the most accurate and comprehensive review of Trade the Pool, we employed a detailed methodology that involved comparing this broker against over 1000 others in the industry. Our assessment covered a wide array of factors, including but not limited to, trading platforms, account types, fees, spreads, commissions, customer service, and educational resources. We also took into consideration user reviews and expert opinions to ensure our analysis was well-rounded and unbiased. This rigorous approach enabled us to present an honest and thorough evaluation of Trade the Pool, highlighting its strengths and areas for improvement.
Trade The Pool, a proprietary trading firm, is the brainchild of Five Percent Online Ltd, which is also the parent company of The5ers, a well-established online prop firm known for forex trading. Launched in 2022, Trade The Pool distinguishes itself by offering innovative funding solutions for stock traders across various competence levels, collaborating with several top-tier companies within the sector. The foundation of the firm rests on the extensive experience of its team, comprising senior traders actively engaged in the market, aiming to foster a conducive and fruitful trading atmosphere.
As a proprietary trading firm, Trade the Pool introduces a unique model where traders can engage in actual trading activities with minimal initial capital. To access the company's funds for trading, candidates are required to pass a challenge or test successfully to secure a funded account. Upon clearing this hurdle, they are entitled to trade on behalf of the company as professional traders. Our detailed article on Prop Trading offers more insights into the proprietary trading model and its workings.
Trade the Pool Pros and Cons ▲
Pros
Lower profit targets make it accessible for traders to achieve success and obtain funding.
Competitive pricing structure with low registration fees, making it financially attractive for new and seasoned traders alike.
A diverse range of account balances caters to traders with different investment capacities.
Offers a free trial, allowing traders to explore the platform and its features without any financial commitment.
The onephase evaluation challenge simplifies the process of becoming a funded trader.
Focuses exclusively on stock trading, providing a specialized platform for traders interested in this market.
Cons
Absence of strict oversight might concern traders who prefer a more regulated environment.
The challenge to become a funded trader, despite being simpler than multiphase evaluations, remains a significant barrier for many.
Limited to only stock trading, which could be a drawback for traders interested in diversifying across forex, commodities, or cryptocurrencies.
The lack of support for MetaTrader platforms might alienate traders accustomed to these popular trading platforms.
Trading is not available during weekends, limiting potential trading opportunities.
In conclusion, Trade The Pool presents a promising opportunity for stock traders seeking funding solutions with a proprietary trading firm. Its focus on stock trading, combined with lower profit targets and competitive pricing, makes it an attractive option. However, the absence of strict oversight and limitations such as only stock trading, no MetaTrader support, and no weekend trading could be potential drawbacks for some traders. As always, we recommend traders conduct their research and consider their trading preferences and strategies before making a decision.
Trade The Pool, headquartered in Israel, has carved a reputable position in the proprietary trading firm landscape, securing a favorable rapport among its clientele. Recognized as a legitimate establishment, it offers traders an avenue to either enhance or refine their trading competencies through a suite of support tools and educational resources. It’s crucial to note, however, that proprietary trading firms such as Trade The Pool operate under a different regulatory framework compared to traditional Forex brokers. This divergence in regulation implies that they do not fall under the stringent oversight of industry-specific regulators, thus presenting a diminished level of safety assurance. Given that these firms self-manage their operations and allocate trading capital, traders are advised to diligently scrutinize the firm’s policies and understand the inherent risks prior to embarking on trading ventures.
Our assessment of Trade The Pool’s authenticity, conducted through an examination of their official website, unearthed no evidence indicative of fraudulent activity. Nevertheless, the inherent nature of Proprietary Trading Firms operating with minimal regulatory oversight by financial watchdogs poses challenges in affirmatively verifying a firm’s legitimacy. This sector’s lower regulatory barrier necessitates a cautious approach from traders, urging them to undertake comprehensive research before committing. Opting for a Proprietary Trading Firm with a reputable track record and longevity in the industry can lend a measure of stability. Although the financial exposure is somewhat mitigated by the primary reliance on subscription fees rather than personal trading funds, a prudent, well-informed approach remains paramount.
Trade the Pool Challenge Evaluation Rules ▲
At the core of our Trade The Pool review lies an in-depth analysis of the evaluation challenge, encompassing the specific criteria required to secure a Funded Trading Account and ascend to the role of a Proprietary Trader. An essential element to consider is the financial commitment for traders, typically manifested as a registration fee. These aspects play a pivotal role in assessing the program’s appeal and viability for aspiring traders. The evaluation comprises a singular-phase challenge, necessitating traders to achieve specified targets within a designated timeframe whilst steering clear of surpassing maximum loss thresholds. The challenge mandates a minimum trading volume, emphasizing the trader’s proficiency in risk management and profit generation.
Account Balance and Registration Fee ▲
Embarking on a journey with Trade The Pool necessitates an initial decision regarding the desired account balance for qualification. The selection of an account size directly influences the challenge’s specific requirements, as each account tier presents slightly varied conditions. This choice also determines the requisite registration fee for challenge participation, with the fee scaling in accordance to the chosen account size. Trade The Pool distinguishes itself with a one-phase evaluation protocol to access a funded account, where traders are tasked with meeting certain profit benchmarks, adhering to maximum drawdown and daily loss constraints, and fulfilling a minimum trading quota within a 45-day timeframe. The firm offers a spectrum of account sizes, starting from $20,000 to as high as $260,000 for more substantial accounts. Prospective participants should note that the fees paid for entering Trade The Pool’s challenge are non-refundable, underscoring the importance of a deliberate decision-making process prior to fee payment, as this expenditure is irreversible regardless of the challenge’s outcome.
During the evaluation stage at Trade The Pool, traders are set a profit target equating to 10% of the account’s buying power. This stipulation entails that traders must generate earnings that match 10% of the total buying power allocated to them in their respective program.
Trade The Pool delineates the maximum allowable daily loss and overall loss based on the chosen account type. Each account category is assigned a specific maximum loss limit, with the daily loss limit constituting a fraction of this overarching threshold. For instance, in the Mini Buying Power program, the maximum loss is pegged at $900, with a daily loss limit of $300, whereas, in the Super Buying Power program, these limits are set at $2,100 and $700, respectively. Adherence to the challenge’s rules is imperative; deviation results in the termination of the evaluation, with participants granted the option to re-enter the challenge upon payment of a reset fee.
The Trade The Pool evaluation phase does not explicitly outline a minimum trading duration. The primary focus is on the allocated 45 calendar days, affording traders the opportunity to fulfill the challenge’s objectives within this period.
Trade The Pool extends a 14-day free trial of their services, granting prospective traders the chance to acquaint themselves with the platform and its functionalities prior to committing to the paid evaluation challenge. This trial period is instrumental in facilitating an informed decision regarding participation in Trade The Pool’s offerings.
After successfully completing the challenge, it typically takes a few business days to set up the funded account, which will reflect the same conditions and balance as those achieved during the test phase. To attain a higher account level, a trader is required to initiate and successfully pass the evaluation specifically designed for that higher tier from the beginning.
Assessing account conditions is pivotal, involving a detailed look at the broker's available account options, trading platforms, instruments, and associated costs. The leverage offered and specific trading terms are of particular significance, as restrictions on certain strategies in funded accounts could lead to potential account termination. Non-adherence to these rules might necessitate a reevaluation.
Pros
Extensive selection of over 12,000 stocks and ETFs, providing ample diversification opportunities
Professional trading platform equipped with essential tools for serious traders
Cons
Potential restrictions on trading strategies that could lead to account termination
The profit sharing arrangement at Trade The Pool varies with the account size. Smaller accounts may experience a 50/50 split, whereas larger accounts benefit from a more trader-favorable split, such as 70/30 or 80/20. This structure ensures that traders retain a substantial portion of their trading profits, with the specific percentage dependent on their account tier.
Pros
Favorable profit split for larger accounts
Cons
Minimum profit requirement of $300 for withdrawal might be challenging for some traders
Considering alternatives to Trade The Pool involves a comprehensive evaluation of over 1000 brokers, assessing their fees, spreads, commissions, and trading conditions. It's crucial to find a broker that aligns with your trading style, offers competitive terms, and supports your growth as a trader. Key aspects include the range of trading instruments available, platform usability, customer support quality, and overall trading environment.
Pros
Wide range of brokers to choose from, ensuring a better fit for individual trading needs
Potential for better terms and conditions, depending on the broker
Cons
Requires extensive research to find the most suitable broker
Possible variability in the quality of customer support and trading environment
