Tradexprop: Information and detailed review

Tradexprop: Company profile and background

Tradexprop is a contemporary proprietary trading firm that entered the market in 2023. Based in Malaysia, specifically in Kuching, Sarawak, the firm is led by CEO Dixon Teo. Unlike many firms that operate through offshore entities in the Caribbean, Tradexprop maintains its headquarters in Southeast Asia, positioning itself within a growing hub for financial technology in the region.

The firm focuses on the Forex and CFD market, offering traders access to simulated capital through different funding models. Since its inception, it has established a presence on platforms like Trustpilot, where it maintains a moderate level of engagement from its user base. The company's structure is designed to cater to both disciplined traders seeking a traditional evaluation process and those looking for immediate access to capital through its "Instant" model.

Evaluation models and account paths

Tradexprop offers three distinct paths to funding, each catering to different trading styles and risk appetites. These models are structured to filter for consistency while providing flexibility in how a trader reaches a funded status.

Forex X-1 Step (One-Step Evaluation)

The X-1 Step is designed for traders who prefer a faster route to funding. It requires hitting a single profit target of 10%. There are no minimum trading days, allowing skilled traders to pass the evaluation in a single session if they meet the objective within the risk parameters. This model carries a 6% static maximum drawdown, which provides a slightly tighter margin for error compared to the two-step version but compensates with a simpler objective.

Forex X-2 Step (Two-Step Evaluation)

This is the traditional industry standard model, focusing on long-term consistency through two distinct phases.

• Phase 1: Requires an 8% profit target.
• Phase 2: Requires a 5% profit target. Like the one-step model, it features 0 minimum trading days and no time limits. However, it offers a more generous 8% maximum drawdown. This model is generally suited for traders who prefer a lower profit-to-drawdown ratio in exchange for an extra evaluation step.

Instant Funded X

The Instant Funded X model bypasses the evaluation phase entirely. Traders pay a higher upfront fee to receive a funded account immediately. This model does not have a profit target to "pass"; instead, the trader begins earning a profit split from the first dollar generated. It is important to note that this model has different drawdown rules and higher initial costs, reflecting the immediate risk the firm takes by providing capital without a prior test of the trader's skills.

Drawdown and risk management

Risk management at Tradexprop is governed by two primary pillars: the Daily Loss Limit and the Maximum Drawdown. Understanding the calculation of these limits is critical to avoiding account forfeiture.

Daily Loss Limit

All account types are subject to a 5% daily max loss. This is calculated based on the higher of the previous day’s end-of-day balance or equity. The limit resets every day at 5:00 PM EST. Because it considers equity, traders must be cautious about carrying floating losses into the new trading day, as those losses will count against the 5% limit for the following session.

Maximum Drawdown mechanics

The calculation of the maximum drawdown depends entirely on the account type:

• Forex Evaluation (X-1 & X-2): These accounts utilize a static drawdown. This means the limit is fixed at 6% (for X-1) or 8% (for X-2) below the initial starting balance. It does not trail upward as the account grows, making it more favorable for traders who want to build a "buffer" of profit.
• Instant Funded X: This model uses an 8% trailing drawdown. The limit moves upward as the account's high-water mark increases. However, Tradexprop includes a "lock" mechanism: once the trader achieves an 8% profit, the drawdown locks permanently at the original starting balance. Additionally, after the first withdrawal, the drawdown is also permanently locked at the starting balance, effectively turning the trailing drawdown into a static one once the trader proves initial profitability.

Breach types: Soft vs Hard

The firm distinguishes between how rules are enforced:

• Soft Breach: Occurs when a trader violates a minor rule (such as failing to close positions before the weekend on an Instant account). In this case, the violating trades are closed by the system, but the account remains active.
• Hard Breach: Occurs when a trader violates the Daily Loss Limit, Max Drawdown, or the Inactivity Rule (30 days without a trade). A hard breach results in the immediate and permanent loss of the account.

Trading rules and restrictions

Tradexprop allows for significant freedom in trading styles, but it enforces strict rules regarding market integrity and "gambling" behaviors.

Prohibited strategies and News Trading

The most significant restriction is the News Trading Rule. Opening positions within 3 minutes before or after high-impact news events is strictly prohibited. Violating this can lead to the removal of profits from those trades or even a full account breach.

Other prohibited behaviors include:

• Arbitrage: Exploiting pricing or latency errors between platforms.
• Strategy Switching: Changing the fundamental trading strategy between the evaluation phase and the funded phase is not allowed.
• Gambling/All-in Trading: Using excessive leverage that resembles gambling rather than systematic trading.
• Group Hedging: Opening opposite positions across multiple accounts or with other traders to "game" the evaluation.

Expert Advisors (EAs) and Copy Trading

The use of EAs is permitted, but with a major caveat: third-party or "off-the-shelf" EAs marketed specifically to pass prop challenges are banned. The firm expects traders to use unique strategies or their own tools. Copy trading is allowed only if the trader is the owner of all accounts involved. Using signal services or mirror trading from external sources is prohibited.

Consistency Rule

For Evaluation accounts, the 45% Consistency Rule applies. No single trading day can account for more than 45% of the total profit target. If a trader hits the target but a single day exceeds this percentage, the profit target is adjusted upward, requiring further trading to prove the results weren't a result of a single "lucky" trade. In the funded phase, this rule applies to withdrawal eligibility. Notably, the Instant Funded X account does not have a consistency rule.

Payouts and profit sharing

The reward structure at Tradexprop is competitive, focusing on a high profit split and multiple payout frequencies depending on the plan.

Profit Split and Frequency

• Default Split: Traders receive 80% of the profits they generate.
• Scaling: On Instant Funded X accounts, traders can purchase an add-on to increase the split to 90%.
• Forex Evaluation: Payouts are bi-weekly (every 14 calendar days). Interestingly, the first payout on these accounts can be requested "instantly" once the funded status is reached and the 14-day window is met.
• Instant Funded X: Payouts occur every 30 days.

Withdrawal Requirements and Methods

For Instant Funded X accounts, there is a minimum withdrawal threshold: the greater of $100 or 1% of the starting balance. The primary methods for receiving funds are Crypto and Rise. The firm does not currently charge a specific payout fee, but traders should be aware of any third-party transaction costs.

Platforms, assets and technical limitations

Tradexprop provides a modern technical environment, avoiding the older MetaTrader platforms in favor of more specialized software.

Available Platforms and Demo Access

Traders can choose between three platforms:

• cTrader: Known for its advanced entry types and institutional-grade interface.
• MatchTrader: A web-centric platform with a clean, modern UI.
• DXTrade: A flexible platform often used by firms to offer more customized trading experiences.

The firm provides public demo credentials for all three platforms, allowing prospective traders to test the execution and latency before committing to a challenge.

Assets and Leverage

The firm offers four main asset classes:

• Forex: 50:1 leverage.
• Commodities (Metals & Energies): 5:1 leverage.
• Indices: 5:1 leverage.
• Crypto: 2:1 leverage (Weekend trading is available for Crypto).

Commissions and Costs

Commissions are standardized at $7 per lot for Forex and Metals. Indices are commission-free. For Cryptocurrency CFDs on Evaluation and Instant X accounts, the commission is $0/lot. These costs are competitive within the industry and should be factored into any scalping or high-frequency strategy.

Geographical Restrictions

Tradexprop does not accept traders from several countries due to regulatory or logistical constraints. These include Pakistan, Russia, Cuba, Sudan, Somalia, Iran, Lebanon, Syria, Libya, and Vietnam.

Summary: who this firm suits

Tradexprop offers a structured environment with clear distinctions between its evaluation and instant funding models. The firm is best suited for traders who value platform variety and static drawdown in their evaluation accounts.

Key considerations for traders:

• The News Trading Rule: This is a strict 6-minute window (3 before, 3 after) that requires traders to be very aware of the economic calendar.
• Static Drawdown Advantage: The X-1 and X-2 plans offer static drawdown, which is a major benefit for traders who prefer to lock in their "safety zone" as they grow the account.
• Instant Funding Flexibility: While more expensive, the Instant X plan removes the consistency rule and the evaluation phase, though it introduces a trailing drawdown until the 8% profit mark is hit.
• Strategy Integrity: The ban on strategy switching and commercial "challenge-passing" EAs means this firm is looking for genuine, manual, or proprietary algorithmic traders rather than those looking for shortcuts.

The firm fits well for swing traders (who can hold over weekends in evaluation) and disciplined day traders who can navigate the news restrictions. It is less suitable for news scalpers or those who rely on high-frequency commercial EAs.