Review Time
As a serious trader, I strongly advise steering clear of this company. Their maximum loss limit is calculated based on your account's highest record. For instance, with a 50k account, if you reach 54k and then gradually lose trades over a few days down to 49k, you will be warned that your account is breached. This is absurd and feels like a scam. The rules state that the trailing drawdown is based on the highest balance from previous days, but it’s baffling how the high from days ago can impact your current situation!
As a serious trader, you should completely steer clear of this service. Their maximum loss is calculated based on your account's highest record. For instance, if you have a 50k account and reach 54k, you'll soon start losing trades until it drops to 49k, at which point they claim your account is breached! It's absurd. They manipulate the rules, claiming it's based on trailing drawdown from previous days, but how can previous highs from days ago be relevant? This is a clear scam.
I passed Phase 1 and was making progress in Phase 2 when my account was abruptly terminated due to a minor daily drawdown violation, despite my maximum drawdown being well within limits. The problem isn't the rule itself, but the total lack of transparency in its enforcement. When I sought clarification, the support kept repeating the same line: 'Daily drawdown breach = immediate failure.' This is not an explanation, it's simply an excuse. They refused to provide any evidence or logs to support their claims. A reputable firm would show timestamps, equity values, and explain mechanisms instead of hiding behind generic statements. This firm's handling of the situation suggests they are looking for the smallest slip-up to terminate traders, especially those nearing success. This is not risk management, but a trap disguised as a challenge. Be warned: your account can be terminated by minor fluctuations, with no proof offered. They merely repeat the same template message, claiming it's industry standard. Based on my experience, this firm lacks transparency and fairness, and I cannot recommend them to anyone who values integrity.
I personally had a very negative experience with this service. I passed the first and second phases, but when it came time to receive the trading account, they claimed I violated trading rules by two minutes. This approach disrupts focus, as while trying to pass, they bring up these rules. It's very frustrating, and I wouldn't recommend it.
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Plus Markets is a prop trading firm that supports skilled traders with the funding that they need to trade for a living.
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