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They have an address and telephone number on their website at least which is a step up from Leeloo.
Their "UProfit Live Withdrawals" rules seem quite complicated with the safety net and variable percentage cuts based on different scenarios.
Topstep Trader was the first company in this space, all the others have copied their rules but changed them slightly to try and make them a bit more favourable on first impression for their own company. One example being the fact you only need to do one Step instead of two to get funded seems great, but for this company the slight catch is if you make a profit withdrawal in the first 45 days you only get 50% (trading days over calendar days presumably). Therefore you aren't going to want to make a withdrawal in that time so you won't be receiving money any more quickly.
Using TST as an example again because they have been around the longest (and because it is the only one of these company's that I have tested with), their website details the prominent people of the company, they produce profit newsletters, videos from their offices etc, ie you know who they are. A lot of the other company's you barely get more than an address.
You are choosing a company that if you get funded, will be holding your profit in their accounts for you, so in some respects like shopping around for a bank. I would choose a company principally on it's reputation.
Looking at the UProfit Community support the posts are less than six months old and until your post today I had never heard of them. Being new of course isn't a reason to avoid them but does mean you have a lot less reliable information to go on. At least with longer term companies you can see if there is a pattern in the online complaints and make a more informed decision.
Just my thoughts. Hopefully you will get some informed feedback from others.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Yes, i traded with uprofit, is the same than others financing companies.
For learning are good but for trading profesional is better a normal account.
The financing companies are made the way that you fail in any foolishness.
but as i say is a good way to learn , to practise the psicology an money management.
Anyway you can win some money , it is posible.
I don't see much difference between upfrofit, e2t, oneup etc.
They all have pretty much similar rules. If you want to try this intraday trailing drawdown hamster wheel, just go for more reputable company.
I've traded Leeloo, Apex etc
Uprofit has a leg up with an anytime withdrawal policy. Yes its 50% under the account threshold (ie 2500 for 50k acct). But its 100% above that to 8k. Then your standard 80/20 split.
What I like is:
- they dont do trailing stop, calculated end of day balance
- you can withdraw any amount from day 1
- there is 1 one time funded fee, no monthly recurring
IMO those 3 positives take away from any negatives.
Leeloo makes you wait way too long for payment, APEX is too restrictive also on payment, both have recurring monthly for almost $100mth and the trailing drawdown flat out sucks especially in this volatile market.
Leeloo and APEX are run well though, Im not hating on them and recommend for slower pace account building.
Also anyone doing this with Uprofit need to understand they arent as quick as the others with getting funded setup.
You need to contact them to go funded, they take a long time to get your funded credentials.
Still worth it though because instant payout is about unheard of for retail speculators as is no monthly recurring.
They have a one time fee of $150 for setting up your funded account.
Besides that one time fee, you don't have to pay for anything else again, which means there are no monthly costs for data feed as well.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Thank you. I see that for example E2T have $105 per month on their LIVE account, but the LIVE SIM is free.
Do you have personal experience with UProfit?
Considering the cost of say $315 + 150 = $465 for the 100K account - I fail to see that it's a good deal when you could fund your own account for the same amount and start trading 1 micro lot. Even more so considering that it seems like there's considerable delay setting up a live account with UProfit.
Yes, I have a funded account with UProfit and it's still in the phase of building a reasonable cushion.
My account was set up and ready within five business days, which was completely ok for me.
As for your example, in my opinion there's a difference between a $465 account trading one micro and getting a $3,000 funded account (I think this applies to a $100k evaluation) and trade one or two minis....just thinking out loud as well.
But you have to bear in mind that with UProfit you have a daily loss limit (e.g. $1,100 for a $50k account). So if you violate this limit during one day, your funded account will be gone without a warning.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
To be clear - I'm assuming you'll trade that micro account with a similar progression as your Combine account. So, let's say you do a tenth of what you make in the funded account. So, $300 profit. Now you're at $765. In comparison, with Uprofit you'll have a $3K drawdown, but note also that there's a profit split on the payout.
I agree that there's a difference. And maybe one that's worthwhile.
Do you know if UProfit actual puts you on a live market account or if you're in the simulator after getting funded?
