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I asked livehelp about this before. They say they are open to overseas participants too. I have not found any indication (so far) that this is only for US residents?
I don't know the exact relationship legally, but OneUp runs people through a TST-like combine called an "evaluation" and if they meet the requirements then they turn them over to MES Capital who will fund them with a live account.
I got funded by MES five weeks ago and just took my first $1000 withdrawal this week.
I believe they are two separate companies for this reason: The OneUP website talks about a private chat room for live traders. But there wasn't one. I asked MES where the chat room was, and they said they didn't have one, but if I wanted to start one it would be great. So I started a Slack.com chat room and advertised it for funded traders on the main board on the OneUp site. I gave the invitation link and my email in case that didn't work. But it didn't last for more than a few hours before it was deleted by OneUp. They told me not to advertise for my personal chat rooms. So a day later I posted a similar post that simply said "There is indeed a funded trader chat room as is mentioned on the OneUp site home page. Please reach out to your funding partner for log in details." And OneUp left that one alone.
I have found Leeloo Funded Trading to be the best. But I have only tried Topstep, OneUp, and am aware of SpeedUp. Sounds like there are one or two more?
Leeloo allows you to qualify in as little as 10 days for FREE, for an account that allows trading up to 12 contracts.
No scaling. And you can trade during news and hold long term positions. (Whereas Topstep you have to be flat by 4:10pm)
If you dont qualify in 10 days.. the same size account is only $195 per month. Resets are $75. I have not found better pricing out there.
With Topstep I qualified for step 1 within 5 days. then paid for several months during a period I was not available to trade, because I didnt want to lose my Step 2 status. lol. Brutal. Plus once I was up $1200 holding an all day position, and 4:10pm hit without realizing and I defaulted my entire account. Leeloo has far less rules which snare you.
My small trading group of friends are all using it and really like it best by far, however I have NOT qualified yet. So I will report back regarding that process once I am. Should be by end of May. They are a fairly new outfit.. so obviously this is important.
I don't know how you have manage to write a review about a site on your first post.
Anyway, I have few questions regarding this site you've mentioned.
You mentioned you can qualify in 10 days for free. Are you talking about the free trial?
I do see that they have 10 days free trial, however 10 days does not cover 10 days of tradable days. So, do you mind answering if they honor that 10 days of free trial as the real evaluation?
The website does not have a transparent information regarding how trailing stop works either. Does Trailing stop follow realized or unrealized pnl?
Do they follow Trailing like OneUp or do they follow something like TST or Earn2Trade?
What happens after you get funded?
I hope you can answer my sincere questions as I am very interested in the program.
Hi SK. Lol.. I dont know either except that I have gotten 4 messages from Futures.io urging me to make some posts. Regarding Leeloo, their admin is absolutely wonderful, but their website dreadful. So much more info needed. FAQ's.. how they define "consistency," and some of us subscribers have informed them of such. They are working on revamping the website.
To answer your question.. the 10 day free trial is for ten TRADING days.. and they count toward qualifying. From my understanding Topstep and Oneup trial is for demo only.. the trading does not count toward qualifying. However Leeloo, you can qualify in one step, in as few as ten days (but also requires a min of 10 active trading days).
Your drawdown is in effect for unrealized pnl.. you will be closed out of the trade (and disqualified) if you surpass the limit. The funded account operates similarly to TST.. your max drawdown moves to Break Even before you can withdraw profits. So if your max drawdown is $3000... then your funded account must exceed a balance of $103,000 for example, before you can withdraw profit. And your new max low is $100,000 (instead of $97,000). Basically your max drawdown has moved up to B.E.
Obviously their rates are the best, but the reason some of my trading partners and I switched to Leeloo despite sorely lacking information, is because they had a trade room last year that I was a part of. So I got to know Leeloo. They are really good people, successful traders who have financed this program. It was easier for me to feel comfortable switching, and also I was already familiar with Topstep's program and how it works, and rithmic. But I agree, they need to do some serious improvements to their website. I have always gotten assistance within 24 hours though.
Sorry, I was not so clear about the trailing stop.
So if I am in a trade where my initial profit target was 500. If the target does not get filled and comes back to my entry. I decided that I made a mistake of not exiting when it was close to my target. So I exit with break even that could had been potential 450 profit. Does this mean the trailing stop raise by 450 or does it stay the same?
Im not exactly sure your question. Because my answer would be that trailing stop has nothing to do with Leeloo, Topstep, or any other. That's a platform setting. If you have a trailing stop ATM (automatic trade management) set up, then it will trail your position. So if you miss your target the trail will close you out in profit, or break even, or wherever you set it.
This has nothing to do with Leeloo. All Leeloo requires is that you do not exceed your max drawdown, if you select a 12 contract account for example, then your position can not exceed a negative of $2500 that day. If it gets below that, it will be closed out and you will have defaulted. You can choose to use trailing stops or not choose to use them, that is not a function of your Leeloo acct.
Wait... do you mean u exit at break even. But you are asking if now your account on the same day, had it's drawdown limit raised by $450? The answer would be no. It would still be the full $2500 for example. And I BELIEVE.. from what I think I have noticed.. if you had closed that trade at $500..and you are up $500 for the day.. then now instead of your max drawdown being -$2500.. it's now -$3000.. (including commissions).. until the end of the day (5pm est).