Trade Amber review
Trading Platforms
Not specified
Deposit Methods
Credit / Debit Card
Withdrawal Methods
Not specified
Forex Commission
-
CEO
Richard Townsend
Weekend Holding
-
Copy Tading
Yes
Payout time
14 days
Country
United Kingdom
News Trading
Yes
Refund Fee
Yes
Trustpilot
4.1
Expert Advisors
Yes
Max Allocation
$ 500,000
Instruments
Forex, CFDs, Indices, Commodities, Shares and Crypto
🚩 The trading platform is not mentioned
So, let’s say you open a Forex proprietary trading firm. When you get to the part of choosing a reliable platform for your trading service, you need to choose between MetaTrader 4, MetaTrader 5, cTrader, DXtrade, and other options. Whatever platform you choose, I assume you would specify it on your website. Well, Trade Amber, a very unknown Prop Firm, decided not to specify on their website what platform they offer to traders. Pathetic, right? If you look in the FAQ section on their website at the question “What trading software will I use?” the answer is “You will have access to the most popular Trading Platform.” So my question is, what is this A-list trading platform? MT4, cTrader, which one? It would be really nice if Trade Amber specified which platform they use. If you are providing services that cost $799, it should be more than mandatory to specify which trading platform you offer. Additionally, it is mentioned how their platform is super advanced, equipped with real-time market data, sophisticated analysis, seamless execution capabilities, etc.
Honestly, this is where this firm lost me. I mean, you can’t specify the platform I would trade on if I choose your services. So, how is Trade Amber better than other Prop Firms if they can’t even provide basic information?
🌐 Ugly website
Except for the login part, all the information on the website is on the Home Page. Very unprofessional. It looks like it was made overnight by some friends who decided to start a Prop Firm after a few beers.
📰 The article from Yahoo Finance tries to create a trustworthy image
For those who think that Yahoo Finance wrote about Trade Amber because it’s a good service, I have some bad news. This is a paid article that talks about Trade Amber’s initiative to improve transparency in proprietary trading by sharing trading data, offering mentorship programs, and building a supportive trading community. In other words, it’s just fancy talk aimed at gullible people. It also mentions CEO Richard Townsend, who surprisingly isn’t specified on the website. For those who want to publish an article on Yahoo Finance, it costs between $650 and $1200 on Upwork.com, so yes, most likely it’s a paid article designed to boost the company’s credibility and domain ranking. Yet another reason why I don’t trust Trade Amber.
🌟 Few Reviews to Judge By
Trade Amber has a score of 4.1 out of 5 on TrustPilot. This score is based on 7 reviews. It’s not enough reviews to inspire trust, even if they’re positive.
On propfirmmatch.com, it appears in the unlisted section and has a very positive review under “Warnings”: “Customer Service is So good. And having Reliable rules to pass challenges. And you can chat with the CEO about any concerns.” Most likely, it was written by someone trying to promote this prop firm.
🏁 The conclusion of the Trade Amber review
After all this information, we pretty much all know what conclusion to draw. That means we shouldn’t use this service. The platform isn’t specified, the website doesn’t inspire trust, there’s a paid positive article on Yahoo Finance, and few online user reviews. Now, for those with a higher level of testosterone who want to give it a try, I recommend trying the fixed challenge of $5k, which has a cost of $34, to see if they’re really serious. Personally, I wouldn’t try this prop firm even if they had a $5 challenge. So, in short, we don’t recommend it to anyone.
Until next time, goodbye traders. 👋
PRICING & ACCOUNT SIZES
$5,000
Fixed challenge
$
34
-
2 Steps
-
Profit Split: 80%
-
Profit Target: 1: 8%; 2: 5%
-
Max. Daily Loss: 4%
-
Max. Total Drawdown: 8%
-
Trading Leverage: 1:100
Fixed challenge
$10,000
Fixed challenge
$
74
-
2 Steps
-
Profit Split: 80%
-
Profit Target: 1: 8%; 2: 5%
-
Max. Daily Loss: 4%
-
Max. Total Drawdown: 8%
-
Trading Leverage: 1:100
Fixed challenge
$25,000
Fixed challenge
$
159
-
2 Steps
-
Profit Split: 80%
-
Profit Target: 1: 8%; 2: 5%
-
Max. Daily Loss: 4%
-
Max. Total Drawdown: 8%
-
Trading Leverage: 1:100
Fixed challenge
$50,000
Fixed challenge
$
249
-
2 Steps
-
Profit Split: 80%
-
Profit Target: 1: 8%; 2: 5%
-
Max. Daily Loss: 4%
-
Max. Total Drawdown: 8%
-
Trading Leverage: 1:100
Fixed challenge
$100,000
Fixed challenge
$
399
-
2 Steps
-
Profit Split: 80%
-
Profit Target: 1: 8%; 2: 5%
-
Max. Daily Loss: 4%
-
Max. Total Drawdown: 8%
-
Trading Leverage: 1:100
Fixed challenge
200,000
Fixed challenge
$
799
-
2 Steps
-
Profit Split: 80%
-
Profit Target: 1: 8%; 2: 5%
-
Max. Daily Loss: 4%
-
Max. Total Drawdown: 8%
-
Trading Leverage: 1:100
Fixed challenge
$20,000
Scale challenge
$
99
-
3 Steps
-
Profit Split: 80%
-
Profit Target: 1: 6%; 2: 6%; 3: 6%
-
Max. Daily Loss: 3%
-
Max. Total Drawdown: 5%
-
Trading Leverage: 1:10
Scale challenge
$50,000
Scale challenge
$
159
-
3 Steps
-
Profit Split: 80%
-
Profit Target: 1: 6%; 2: 6%; 3: 6%
-
Max. Daily Loss: 3%
-
Max. Total Drawdown: 5%
-
Trading Leverage: 1:10
Scale challenge
$100,000
Scale challenge
$
199
-
3 Steps
-
Profit Split: 80%
-
Profit Target: 1: 6%; 2: 6%; 3: 6%
-
Max. Daily Loss: 3%
-
Max. Total Drawdown: 5%
-
Trading Leverage: 1:10
Scale challenge
Well-known Prop Firms
