Starter Prop Trader provides a unique platform for traders looking to prove their skills in the forex market without risking their own capital. By offering a structured two-step evaluation process, transparent profit-sharing, and a variety of trading strategies, Starter Prop Trader stands out as an attractive option for both new and experienced traders. Whether you aim to test your trading strategies, grow your capital through the Scaling Plan, or simply explore new trading opportunities, Starter Prop Trader offers a clear and supportive path to success in the prop trading world.

Starter Prop Trader Review: Is It the Right Choice for You?

Starter Prop Trader is a platform designed to evaluate traders in the Forex market by providing them with simulated capital. Traders who perform successfully on the platform can receive real money rewards. Access to the platform is granted after completing a two-step Challenge process, and approved traders can earn up to 80% of their profits on a Simulated Live Account.

What Makes Starter Prop Trader Unique?

Starter Prop Trader distinguishes itself in the forex prop industry by emphasizing full transparency. One of its standout features is the Transparent Payout Page, which ensures that traders have a clear and honest view of their profits without hidden processes or back office interference. This commitment to transparency aims to address common industry issues, such as unexplained suspensions or unfair payment denials. Additionally, Starter Prop Trader offers a unique Scaling Plan, allowing traders to increase their account size, profits, and trading limits. The platform provides a profit distribution of up to 95%, with a maximum loss limit of 12% and a maximum daily loss of 6%. Traders can scale their trading capacity up to $1,000,000, offering significant growth opportunities beyond typical Simulated Live Accounts. The trading conditions at Starter Prop Trader are designed to accommodate various strategies, including scalping, hedging, and swing trading. The platform emphasizes transparency, growth opportunities, and flexible trading conditions to help traders achieve their goals.

Where is Starter Prop Trader Located?

Starter Prop Trader is based in Dubai, located at Premises No. 40851-001, Building A1, IFZA, Dubai Silicon Valley, DDP, U.A.E.

Who Can Join Starter Prop Trader?

Starter Prop Trader welcomes talented traders from around the world who can demonstrate proper risk management skills. The platform supports global participation, offering its services to traders who are ready to showcase their trading abilities.

Why Should You Consider Joining Starter Prop Trader?

Traders with limited capital often face challenges such as the fear of personal losses, psychological pressure, growth limitations, and maintaining trading discipline. Starter Prop Trader provides a solution by offering access to a Simulated Real Account with up to $200,000 in capital. The platform emphasizes transparency, reliable payout processes, and a unique scaling plan that allows traders to expand their profits and trading limits. This environment allows traders to develop their skills, build confidence, and advance their trading careers without the risk of real losses.

Evaluation Roadmap

Starter Prop Trader’s evaluation process involves three key stages: Challenge, Verification, and the Simulated Live Account. This structured process is designed to test traders’ skills and consistency before granting access to funded simulated accounts.

• Challenge: Traders begin with a demo challenge account to prove their trading skills. This stage involves a leverage of 1:100, a minimum of 4 trading days, and a virtual profit target of 8%. The maximum daily drawdown is set at 4%, and the overall maximum drawdown is 8%.
• Verification: In this stage, traders must demonstrate consistency in their trading approach. The conditions remain the same as the Challenge stage, with a leverage of 1:100 and similar drawdown limits.
• Simulated Live Account: Upon successful completion of the Verification stage, traders gain access to a funded simulated account with a leverage of 1:100. The maximum daily drawdown is 4%, the maximum drawdown remains at 8%, and traders can earn an 80% profit split on their trades.

Account Options and Pricing

Starter Prop Trader offers a variety of account options tailored to different levels of experience and capital requirements. The available plans include:

• Beginner: A $10,000 account available for $48.
• Novice: A $25,000 account available for $108.
• Intermediate: A $50,000 account available for $188.
• Advanced: A $100,000 account available for $288.

Each plan offers immediate access to the funded accounts upon purchase, allowing traders to start their evaluation process without delay.

Evaluation Process: How to Get a Simulated Live Account?

To obtain a Simulated Live Account with Starter Prop Trader, traders must successfully complete a two-step evaluation process, consisting of the Challenge and Verification stages.

Step 1: Challenge

Upon payment, traders receive a demo account with simulated capital. During this stage, traders are required to meet specific trading objectives to advance. Successful completion of the Challenge allows traders to move on to the second and final stage of the evaluation process.

Step 2: Verification

In the Verification stage, traders receive another demo account with simulated capital, designed to test their performance and consistency. This step has slightly simpler rules than the Challenge and serves as a final check before granting access to a Simulated Live Account. Upon successful completion, the trader’s account is verified, bringing them closer to joining Starter Prop Trader’s group of successful traders.

How Long Does It Take to Get a Simulated Live Account?

Both Step 1 (Challenge) and Step 2 (Verification) require a minimum of 4 trading days each. There is no overall time limit to complete the evaluation process; once all trading objectives are met, traders can begin their Simulated Live Account in as little as 8 trading days.

What Capital Will Be Traded on a Simulated Live Account?

The trading account balance on the Simulated Live Account will remain the same as it was during the Challenge stage. For instance, if a trader participates in the Starter Prop Trader Challenge with a $100,000 account, they will continue with the same balance on their Simulated Live Account. Traders have the option to increase their account balance by starting a new Starter Prop Trader evaluation. The maximum capital allocation per trader on Starter Prop Trader accounts is capped at $200,000, allowing traders to maintain up to two accounts of $100,000 each. Traders who perform successfully on a Simulated Live Account have the opportunity to increase their capital further through Starter Prop Trader’s Scaling Plan.

Trading Rules at Starter Prop Trader

The first step of the evaluation process is the Challenge, which has no time limit to achieve the trading objectives. Once the goals are met, the results will be verified, and successful traders can proceed to the Verification stage.

• Minimum Trading Days: 4 days
• Simulated Profit Target: 8%
• Simulated Daily Drawdown Limit: 4%
• Simulated Maximum Loss: 8%

Step 2: Verification

The Verification stage is the final step with simpler trading objectives compared to the Challenge. This stage ensures consistency in trading performance before granting access to a Simulated Live Account.

• Minimum Trading Days: 4 days
• Simulated Profit Target: 4%
• Simulated Daily Drawdown Limit: 4%
• Simulated Maximum Loss: 8%

Step 3: Starter Prop Trader Simulated Live Account

After meeting all trading objectives and completing the Verification step, traders can proceed to sign the contract and receive their Simulated Live Account. Compliance with all trading rules, including maximum daily drawdown and total maximum drawdown, is required.

• Simulated Daily Drawdown Limit: 4%
• Simulated Maximum Loss: 8%

Can You Trade News?

During the Challenge and Verification stages, trading is allowed during all news releases. However, after completing the evaluation process, traders on a Simulated Live Account must exercise caution during news events. Specifically, traders are prohibited from entering new trades or closing existing trades on target instruments within 2 minutes before and 2 minutes after a news release. This includes opening or closing positions and setting stop losses or take profits. Trades opened more than 2 minutes before the news event are allowed. Violations of these rules may result in penalties. For news events that fall under these restrictions, traders should refer to the Forex Factory calendar (https://www.forexfactory.com/calendar), specifically events marked with a red label.

Holding Trades Overnight

Traders participating in the Challenge or Verification stages can hold their positions overnight and during weekends. However, on a Simulated Live Account, all positions must be closed before the market closes for the weekend or if there is a market break (rollover) lasting more than 2 hours.

Allowed Trading Strategies

Traders have the flexibility to use various trading strategies, including scalping, hedging, martingale, and grid trading. Consistency and reproducibility on real trading accounts are essential to achieve the same results as on the Starter Prop Trader account. All available instruments and assets on the trading platform are tradable. Bots are permitted to assist with trading activities; however, only those designed to support personal trading analysis and decision-making are allowed. Bots that automatically trade on behalf of the trader are prohibited. Prohibited trading practices, as detailed in Clause 6 of Starter Prop Trader’s Terms of Use, may lead to actions such as removing conflicting positions, rebalancing the account, reducing leverage, or terminating the account.

Available Instruments for Trading

Starter Prop Trader offers a wide range of trading instruments, including currency pairs, indices, commodities, stocks, cryptocurrencies, and more.

Copy Trading Rules

Starter Prop Trader allows copy trading between accounts owned by the same individual. However, copying trades between accounts that belong to different individuals, including relatives, family members, or friends, is strictly prohibited.

Daily and Total Drawdown Limits

The Maximum Daily Drawdown Limit is set at 4% of the initial account balance. At any point during the day, the total of all closed positions and current open floating profits/losses (P/Ls) must not exceed this limit. For example, in a $100,000 Challenge account, the daily loss limit is $4,000. If closed trades result in a $3,000 loss, open floating losses must not exceed an additional $1,000. This limit includes commissions and swaps. The drawdown limit resets at midnight, server time (00:00 UTC+2). The Maximum Total Drawdown Limit is set at 8% of the initial account balance, meaning the account balance must not drop below 92% of its initial value. Both open and closed positions, including commissions and swaps, are counted towards this limit.

Simulated Live Account

What is the KYC Process?

Upon reaching the Trading Objectives in the Verification step, traders are required to complete the Know Your Customer (KYC) process. This process is accessed through the Starter Prop Trader Identity section on the Profile Page and is mandatory for account registration. The KYC process involves providing proof of identity and proof of residential address. Once verified, the compliance team securely stores this information, allowing traders to use their verified data to manage their Starter Prop Trader accounts or enter into new agreements. The Profile Page is designed for ease of use, and the support team is available to assist with any questions or concerns regarding the KYC process.

What Account Size Will I Work With?

The Simulated Live Account will have the same balance size as the account selected during the Challenge and Verification stages. After receiving the Simulated Live Account, traders are entitled to 80% of the profits earned on the account, which operates with simulated capital.

How Do I Withdraw My Profits?

Traders on a Simulated Live Account can earn real money rewards based on their profitability. Profit payouts are calculated monthly by default, but traders can request a payout 14 days after opening their first trade. Upon account confirmation, payments are processed within 1-2 business days, and traders have the option to receive payouts via bank transfer or cryptocurrency, with no withdrawal fees charged by Starter Prop Trader.

First Payout on Demand

Starter Prop Trader offers a first payout on demand, allowing funded traders to withdraw 40% of their profits from the first day. This feature is beneficial for meeting personal financial goals or reinvesting in trading activities. Following the initial payout, traders can withdraw 80% of their profit share bi-weekly after a 14-day waiting period, ensuring consistent access to earnings.

What Profit Can Traders Withdraw Per Payout Period (Each 14 Days)?

Traders on a Simulated Live Account can aim to earn 8% of their account balance per payout period. For example, achieving an 8% profit on a $100,000 account would result in a reward of $6,400. This amount is significant compared to the initial evaluation fee and may also include a refund of the fee paid for the evaluation.

Do I Have to Pay Taxes on My Income?

Traders are responsible for paying any taxes, duties, or fees associated with their income from the Starter Prop Trader program, in accordance with relevant laws and regulations. Starter Prop Trader does not provide tax advice or guidance, and traders should seek independent tax advice as needed.

How Does the Scaling Plan Work?

Starter Prop Trader’s Scaling Plan allows traders to qualify for a capital increase every four months by achieving a net profit of at least 10% over four consecutive months (an average of 2.5% net profit per month) and completing at least two payouts during that period. If these conditions are met, traders can receive a 25% capital increase, with a maximum limit of $1,000,000 per trader.

During the first two scaling cycles, drawdown limits will be increased. After four months, limits will rise to 5% daily and 10% overall, and after eight months, to 6% daily and 12% overall. Profit sharing for traders in the Scaling Plan will be increased to 95%. However, if a non-scalable account is combined with a scalable account, the profit sharing ratio will adjust to 80%.

Orders & Billing

To apply for a Starter Prop Trader evaluation, visit the official website at starterproptrader.com. Select your desired account type, proceed to the payment page, and complete the transaction. After payment, you will receive a confirmation email with further details.

What Payment Methods Are Available?

Starter Prop Trader accepts payments through debit or credit cards as well as various cryptocurrencies. The supported cryptocurrencies include:

• Tether USDT (TRC20)
• Tether USDT (ERC20)
• Bitcoin
• Ethereum
• USD Coin (ERC20)

When Will I Receive My Starter Prop Trader Evaluation Account After Payment?

Once your payment is received, Starter Prop Trader will process your evaluation account request promptly. Typically, this process takes only a few hours, but in rare instances, it may take up to 24 hours.

Can I Use Someone Else’s Crypto Wallet?

No, you are required to use your own cryptocurrency wallet for payments. Using another person’s crypto wallet is not permitted.

Platforms

Starter Prop Trader offers access to the most popular trading platforms, ensuring traders have a familiar and reliable environment for their trading activities.

Can I Change My Platform During the Evaluation Process?

Traders have the option to request a platform change after completing each stage of the Evaluation Process. This flexibility allows traders to adjust their setup as they progress through the evaluation.

What is the Commission per Lot?

Starter Prop Trader follows industry standards to reflect market conditions as closely as possible, including the application of commissions on trades. The commission rates are:

• Forex, Metals, and Commodities: $3 per lot
• Indices and Cryptocurrencies: $0 per lot

Starter Prop Trader prides itself on offering one of the most competitive commission structures in the industry.

What is Server Time?

The server time for Starter Prop Trader is set to 00:00 UTC+2.

General Questions

Starter Prop Trader offers Video Call Support exclusively for funded traders. To request video assistance, traders can email support@starterproptrader.com to schedule a Zoom meeting. This service allows traders to address their queries directly via video call, a unique feature in the industry.

Gift Accounts

Starter Prop Trader provides the option to purchase accounts as gifts. After completing the purchase, the buyer receives an email containing a promo code and a link. The recipient can easily follow the link and enter the promo code to activate their account, offering a seamless start for aspiring traders.

How Many Accounts Am I Allowed to Have?

There is no limit on the number of accounts a trader can hold during the Challenge and Verification phases. However, on Simulated Live Accounts, a maximum capital allocation of $200,000 per trader applies.

Merging Accounts

Traders can request to merge their Starter Prop Trader accounts into a single main account, provided that:

• The account is not currently in drawdown.
• No profit payments are pending.
• All accounts have the same risk settings and base currency.

Upon merging, balances and loss limits are combined under one account, maintaining a maximum daily loss limit of 4% and a total maximum loss limit of 8%. Reinvestment of profits before merging is optional.

Changing Account Passwords

Changing passwords for accounts used in evaluation procedures or on Simulated Live Accounts is strictly prohibited. Any such changes will result in automatic disqualification and termination of trading privileges.

Is the Use of a Stop Loss Required?

There is no requirement to use a stop loss on Starter Prop Trader accounts.

Demo Account vs. Live Account

All trading on Starter Prop Trader is conducted in a simulated environment using demo accounts. Although Simulated Live Accounts mimic live trading accounts, they remain demo accounts designed to simulate real trading conditions.

Reward for Profits

Traders using simulated equity can earn real cash rewards by making profits on Simulated Live Accounts. Profitable traders are eligible to receive 80% of the profits earned on their simulated live account as a reward.

Can I Trade Cryptocurrency on Weekends?

Yes, simulated cryptocurrency trading is permitted over the weekend on Starter Prop Trader accounts.

Account Inactivity Period

If a trading account remains inactive for 30 days, it will be automatically terminated.

Is the Fee for the Evaluation Refundable?

The fee paid for the Challenge is refundable upon the fourth payout.

Is Starter Prop Trader Regulated?

Starter Prop Trader is a forex evaluation platform that provides simulated capital for traders globally. The platform is not subject to financial services regulation as it does not hold client funds or offer trading services to the public. It is registered in Dubai, UAE, and complies with all applicable legal and regulatory requirements. For further details, please refer to their legal registration information.

What is the Leverage?

• Forex: 1:100
• Indices: 1:50
• Metals and Commodities: 1:30
• Cryptocurrency: 1:2

These leverage settings apply across all stages, including the Challenge, Verification, and Simulated Live Account.

VPN and VPS Usage

Starter Prop Trader allows the use of VPN and VPS services, but strictly prohibits their use to bypass rules related to copy trading, group trading, or signal trading. Violation of these rules will result in account termination.

Do You Have a Consistency/Hidden Rule?

Starter Prop Trader does not impose any hidden or consistency rules. All rules are fully transparent and accessible on the platform’s Rules page.

Which Broker Does Starter Prop Trader Use?

Starter Prop Trader does not function as a broker or brokerage service.

Check Our Spreads Here

For information on spreads, please visit the spreads information page.

Conclusion

Starter Prop Trader offers a structured and comprehensive platform for aspiring and seasoned traders seeking to prove their trading skills without risking their own capital. With its clear and transparent evaluation process, competitive profit-sharing models, and the opportunity to trade on a Simulated Live Account, Starter Prop Trader provides a unique gateway for traders looking to transition into funded trading. The platform’s commitment to transparency, as demonstrated by features such as the Transparent Payout Page and Video Call Support, sets it apart in the crowded prop trading industry. One of the most compelling aspects of Starter Prop Trader is its Scaling Plan, which allows traders to increase their capital allocation as they demonstrate consistent profitability.

This approach not only incentivizes disciplined trading but also provides a clear path for growth, which is often a critical factor for traders aiming to scale their operations. The platform’s flexible trading rules, including the allowance of various trading strategies and the use of bots for analysis, make it a versatile choice for traders with different styles and preferences. However, it’s important for potential users to understand that Starter Prop Trader operates in a simulated environment, which, while advantageous for risk management, may not fully replicate the psychological pressures of live trading.

Additionally, the platform’s lack of traditional financial regulation may be a consideration for traders who prefer working with regulated entities, although Starter Prop Trader clearly outlines its operational boundaries and legal compliance. With a robust support system, including dedicated Video Call Support for funded traders, and a user-friendly application process, Starter Prop Trader stands out as a solid option for traders looking to prove their capabilities in a controlled, simulated setting.

The option to gift accounts and the flexibility in managing multiple accounts further enhance its appeal, making it not just a trading platform but also a community-oriented service that caters to the needs of a diverse trading audience. In conclusion, Starter Prop Trader delivers on its promise of providing a transparent and growth-oriented platform for traders at various levels of their trading journey. Whether you’re looking to test your strategies, expand your trading limits, or simply explore new trading opportunities with simulated capital, Starter Prop Trader offers a supportive and structured environment to help you achieve your trading goals. However, as with any trading platform, prospective users should thoroughly review the terms and ensure they align with their trading objectives and risk tolerance.