TurboTrade.Funds Review: Rules, Fees, Challenges, and More

Is TurboTrade.Funds a legit prop firm? What are their pros and cons?

Find out the answer in this detailed review:

With so many scams in the trading world, I recommend you only work with the best prop trading companies.

After reviewing 200+ trading companies globally, here are my top recommendations:

• The5%ers (For Non-US Traders)
• E8 Markets (For US-based traders)

Pros:

1. Generous Profit Splits
2. Diverse Account Options
3. Account Scaling
4. Comprehensive Educational Resources
5. Advanced Trading Platforms
6. Flexible Payout System
7. Risk Management Focus

Cons:

1. Evaluation Fees
2. Strict Risk Management Rules
3. No Weekend Trading
4. Short Evaluation Periods
5. No Guaranteed Salary

About TurboTrade.Funds

TurboTrade.Funds is a proprietary trading firm that offers funded forex accounts to traders who can demonstrate their trading abilities through an evaluation process. The firm’s goal is to provide skilled traders with access to substantial capital, allowing them to trade in the forex market without risking their own money.

What sets TurboTrade Funds apart from other prop firms is its flexible approach to trading, competitive profit splits, and comprehensive educational support for traders. The firm focuses on empowering traders to succeed by offering various account types, a clear evaluation process, and access to advanced trading tools.

Key Features of TurboTrade.Funds:

• Access to Funded Accounts: Traders can access accounts ranging from $10,000 to $500,000 after completing the evaluation process.
• High Leverage: TurboTrade.Funds provides traders with leverage of up to 1:100, allowing them to maximize their potential returns.
• Competitive Profit Splits: Traders can keep up to 85% of the profits they generate, with the firm retaining a smaller percentage as compensation for providing capital.
• Flexible Trading Conditions: The firm offers access to multiple asset classes, including forex, commodities, indices, and cryptocurrencies.
• Education and Mentorship: TurboTrade.Funds offers educational resources, webinars, and mentorship programs to help traders improve their strategies and pass the evaluation phase.
• Advanced Trading Platforms: The firm supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, providing traders with robust trading environments.

TurboTrade.Funds aims to create an environment where traders can focus on their trading strategies without worrying about capital constraints. The firm’s emphasis on risk management, transparency, and support has made it an attractive option for both new and experienced traders.

Business Model of TurboTrade.Funds

TurboTrade.Funds operate on a performance-based business model, similar to many other proprietary trading firms. Traders are required to prove their skills through an evaluation process before gaining access to a funded account. The firm then shares a portion of the profits generated by the trader while taking on the financial risk.

Evaluation Process

To qualify for a funded account at TurboTrade.Funds, traders must first pass a two-step evaluation process designed to assess their ability to trade profitably and manage risk. This process ensures that only traders with a proven track record of success are entrusted with the firm’s capital.

Phase 1: Initial Evaluation

In the initial evaluation phase, traders must achieve a specific profit target within a set time frame, usually between 30 and 60 days. During this phase, traders are given a demo account that mirrors real market conditions, and they must demonstrate their ability to generate consistent profits while adhering to the firm’s risk management rules.

Key requirements of Phase 1:

• Profit Target: Traders must hit a profit target of 8–12%, depending on the account type, within the given time frame.
• Drawdown Limit: The maximum drawdown allowed during the evaluation period is typically 5–10%, depending on the account size.
• Daily Loss Limit: Traders must not exceed a daily loss of 5% of their account balance.
• Stop Loss Requirement: TurboTrade.Funds require that every trade be accompanied by a stop-loss order to ensure disciplined risk management.

Phase 2: Verification

Once traders successfully pass the initial evaluation, they move on to the verification phase. In this phase, traders must demonstrate that they can continue trading consistently while maintaining proper risk management. The verification phase is usually longer than the initial evaluation, lasting 60 to 90 days, and requires traders to achieve a smaller profit target (typically around 5%).

Upon completing both phases of the evaluation process, traders are awarded a live, funded account, where they can trade with the firm’s capital and retain a percentage of the profits.

Best TurboTrade.Funds Alternative:

E8 Markets (Best Overall)

E8 Markets is a standout proprietary trading firm praised for its comprehensive and flexible trading programs. Here are some highlights:

1. User-Friendly Technology: The E8X Dashboard is highly intuitive, offering in-depth analytics for evaluating trading strategies. It displays real-time and historical data clearly, helping traders make informed decisions.

2. Flexible Evaluation Process: E8 Markets provides a range of account types, including the E8 Account, E8 Track, and ELEV8 Account. These accounts cater to different trading styles and experience levels, with realistic profit targets and no minimum or maximum trading day requirements. This flexibility allows traders to progress at their own pace.

3. Generous Profit Sharing: Successful traders can enjoy up to an 80% profit split, with opportunities to scale account balances significantly. The firm’s scaling plan further enhances traders’ potential to grow their capital.

Sign up with E8 Markets today!

My Flash Funding (Best for New Traders)

My Flash Funding is an innovative proprietary trading firm that offers a supportive and flexible trading environment, making it a great choice for traders. Here are some key highlights:

1. Flexible Trading Rules: My Flash Funding allows traders to hold trades overnight and over weekends, engage in news trading, and use various trading strategies without restrictions on lot sizes or trading styles. This flexibility is designed to empower traders to follow their unique strategies without unnecessary constraints.

2. Evaluation Programs: The firm offers both a one-step and a two-step evaluation challenge. The two-step evaluation has realistic profit targets of 6% for each phase, with a 4% maximum daily drawdown and 8% maximum loss. The one-step evaluation requires a 10% profit target with a 4% maximum daily drawdown and 6% maximum trailing drawdown. Both programs have no minimum trading day requirements and allow unlimited time to complete the evaluations.

3. Generous Profit Sharing: Traders can earn an attractive 80% profit split, with opportunities to scale their accounts significantly. Payouts are bi-weekly, ensuring regular access to profits for successful traders.

Get Funded Today with My Flash Funding

Account Types

TurboTrade.Funds offer a variety of account types to cater to different levels of trading experience and capital requirements. Each account type has its profit target, drawdown limits, and profit split structure.

1. Basic Account:

• Account Size: $10,000
• Evaluation Fee: $150
• Profit Target: 8% within 30 days
• Drawdown Limit: 10%
• Profit Split: 70% for traders, 30% for the firm

2. Standard Account:

• Account Size: $50,000
• Evaluation Fee: $350
• Profit Target: 10% within 45 days
• Drawdown Limit: 8%
• Profit Split: 75% for traders, 25% for the firm

3. Professional Account:

• Account Size: $100,000
• Evaluation Fee: $500
• Profit Target: 10% within 60 days
• Drawdown Limit: 6%
• Profit Split: 80% for traders, 20% for the firm

4. Elite Account:

• Account Size: $250,000
• Evaluation Fee: $1,000
• Profit Target: 12% within 60 days
• Drawdown Limit: 5%
• Profit Split: 85% for traders, 15% for the firm

5. VIP Account:

• Account Size: $500,000
• Evaluation Fee: $2,000
• Profit Target: 12% within 60 days
• Drawdown Limit: 4%
• Profit Split: 85% for traders, 15% for the firm

TurboTrade.Funds also offer a scaling plan for successful traders, allowing them to manage larger accounts as they demonstrate consistent performance. Traders who meet specific profit and risk management targets can qualify for additional funding and higher profit splits.

Trading Rules and Risk Management

TurboTrade.Funds places a strong emphasis on risk management, requiring traders to adhere to specific rules designed to protect the firm’s capital. These rules ensure that traders maintain discipline and manage risk effectively while trading.

Key Trading Rules:

1. Maximum Drawdown: Traders must not exceed the maximum drawdown limit specified for their account type. Exceeding this limit results in disqualification from the evaluation process or forfeiture of the funded account.
2. Daily Loss Limit: Traders are required to manage their daily losses carefully. The daily loss limit is typically set at 5% of the account balance. If a trader breaches this limit, they are immediately disqualified from the evaluation or lose access to the funded account.
3. Stop Loss Requirement: Every trade must include a stop-loss order. This rule ensures that traders manage risk on each trade, preventing large losses from a single position.
4. No Holding Over the Weekend: TurboTrade.Funds do not allow traders to hold positions over the weekend. This rule is designed to minimize exposure to unpredictable market gaps that can occur during weekends when markets are closed.
5. Leverage: The firm provides leverage of up to 1:100, giving traders the ability to increase their exposure to the market without using additional capital. While leverage can amplify profits, it also increases risk, so traders must use it cautiously.
6. Profit Targets: Traders must meet the profit targets specified for their account type during both the evaluation and verification phases. Failure to meet the target within the given time frame results in disqualification.

Features and Tools Provided by TurboTrade.Funds

TurboTrade.Funds provides a comprehensive suite of tools and features to help traders succeed. These tools are designed to assist traders in managing risk, analyzing market conditions, and improving their overall performance.

1. Advanced Trading Platforms

TurboTrade.Funds support three of the most popular trading platforms in the industry:

• MetaTrader 4 (MT4): Known for its user-friendly interface and advanced charting tools, MT4 is a popular choice among forex traders. The platform also supports algorithmic trading through Expert Advisors (EAs).
• MetaTrader 5 (MT5): MT5 offers more advanced features than MT4, including additional order types, timeframes, and asset classes. It’s ideal for traders looking for a more comprehensive trading experience.
• cTrader: cTrader is a powerful platform that provides fast execution speeds, advanced charting tools, and access to a wide range of markets. It is particularly popular among traders who value precision and customization.

2. Trader Dashboard

TurboTrade.Funds offers an intuitive trader dashboard that allows traders to track their performance in real-time. The trader dashboard is a crucial tool for monitoring account metrics, trade history, profit and loss, drawdown, and risk management compliance. Key features of the dashboard include:

• Performance Monitoring: Traders can view their real-time account performance, including their current equity, balance, profits, losses, and drawdown percentages.
• Risk Management Alerts: The dashboard provides alerts if traders are approaching their daily loss limit or maximum drawdown. These alerts help traders stay within the firm’s risk parameters.
• Trade Analytics: The dashboard provides detailed trade analytics, allowing traders to review their past trades, identify patterns, and refine their strategies based on performance data.

3. Educational Resources and Webinars

TurboTrade.Funds places a strong emphasis on trader development, offering a variety of educational resources to help traders improve their skills. These resources include:

• Video Tutorials: A library of video tutorials covers essential topics such as risk management, technical analysis, trading psychology, and how to use trading platforms effectively.
• Webinars: Regular webinars are hosted by experienced traders and market analysts, covering market trends, strategies, and trading techniques.
• Market Analysis: The firm provides daily and weekly market analysis, helping traders stay informed about key market movements, economic data releases, and other events that could impact the forex market.

4. Mentorship Programs

For traders looking for personalized guidance, TurboTrade.Funds offer mentorship programs. These programs pair traders with experienced mentors who provide one-on-one coaching. Mentors can help traders refine their strategies, develop better risk management techniques, and increase their chances of passing the evaluation phase.

The mentorship program is especially beneficial for traders who are struggling with specific aspects of their trading, such as maintaining discipline, sticking to a trading plan, or managing emotions during volatile market conditions.

5. Multi-Asset Trading

While TurboTrade.Funds primarily focuses on forex trading, it offers access to other asset classes as well, allowing traders to diversify their portfolios. Traders can trade the following asset classes:

• Forex: The core offering includes major, minor, and exotic currency pairs.
• Commodities: Gold, silver, oil, and other commodities are available for trading.
• Indices: Major global indices like the S&P 500, NASDAQ, FTSE 100, and DAX are included in the offering.
• Cryptocurrencies: For traders interested in digital assets, TurboTrade.Funds provide access to popular cryptocurrencies like Bitcoin, Ethereum, and Ripple.

6. Account Scaling Opportunities

One of the standout features of TurboTrade.Funds is its account scaling program. Traders who demonstrate consistent profitability and disciplined risk management can qualify for larger accounts. The scaling plan allows traders to manage accounts with increasing capital over time, starting from $100,000 and potentially growing to $1 million or more.

This feature is particularly attractive for traders who want to build their careers with TurboTrade.Funds, as it allows for gradual progression and the opportunity to earn more significant profits without additional personal investment.

I recommend you start trading with E8 Markets. They have already paid out $39,000,000+ to traders and have received thousands of positive reviews online.

>>Get Funded Today with E8 Markets<<

Payout System and Profit Splits

TurboTrade.Funds have a transparent and competitive payout system, making it easy for traders to receive their profits. Here’s how the payout system works:

Profit Splits

The profit split structure at TurboTrade.Funds is one of its most attractive features. Depending on the account type, traders can keep between 70% and 85% of their profits. The higher-tier accounts offer better profit splits, rewarding traders for passing more challenging evaluations and managing larger accounts.

• Basic Account: 70% profit split for traders.
• Standard Account: 75% profit split for traders.
• Professional Account: 80% profit split for traders.
• Elite and VIP Accounts: 85% profit split for traders.

Payout Frequency

TurboTrade.Funds process payouts on a bi-weekly or monthly basis, depending on the trader’s preference. Traders can request payouts as soon as they accumulate a minimum of $500 in profits. The firm offers multiple withdrawal methods, including:

• Bank Wire Transfer: Ideal for traders who prefer direct transfers to their bank accounts.
• PayPal: A convenient option for traders who want fast, online payments.
• Cryptocurrency: For traders who prefer digital currencies, TurboTrade.Funds support payouts in Bitcoin and Ethereum.

No Profit Limits

Unlike some prop firms that impose profit caps, TurboTrade.Funds do not limit how much a trader can earn. Traders can withdraw their entire share of the profits without any restrictions, making it a flexible and trader-friendly system.

Conclusion

TurboTrade.Funds are a promising option for traders who want to trade with significant capital without risking their own money. The firm offers competitive profit splits, a variety of account types, and comprehensive educational resources, making it a great choice for traders who are serious about growing their careers in the forex market.

For disciplined traders who can manage risk effectively and meet the firm’s evaluation criteria, TurboTrade.Funds provide an opportunity to trade larger accounts and potentially earn substantial profits. The firm’s scaling plan, in particular, is a standout feature that allows successful traders to increase their account size over time, unlocking even greater profit potential.

However, TurboTrade.Funds may not be ideal for everyone. The firm’s strict risk management rules, high evaluation fees for larger accounts, and short evaluation periods could be seen as limitations for some traders. Additionally, the lack of a guaranteed salary means that traders must be consistently profitable to earn a reliable income.