In this review, we would be discussing about Consummate Traders which is one of the most popular forex proprietary trading companies in Nigeria at the moment. A lot of Nigerians are into forex trading to make money and be able to sustain themselves. We all know that making huge profits from forex trading depends on the capital you trade with. The more money you trade with, the more profit you make. Most Nigerian traders do not have huge capital to trade, which is where prop companies come in. If you feel you are good at trading, you can apply to prop companies who would provide you with huge funds to use to trade forex and when you make profits, they pay you your profits while keeping their commission.
How Consummate Traders Works
Consummate Traders is a prop tech company that provide you access to huge capital to use to trade the forex market. For example, if you have $300 and you trade with it to make 20% profit in a month, you get to make just $60. What if you use the $300 to purchase a $10,000 account from prop tech companies like Consummate Traders. That same 20% profit would made you $2,000.
How To Join Consummate Traders
Step 1: Create an Account
If you’re down for a challenge, you get to manage a gargantuan capital of up to $400,000
Step 2: Choose Model
Once you’ve created an account, you get to choose from Express Pro, Express Lite or Evaluation models.
Step 3: Start Trading
After paying the registration fee, you can start trading right away with the best tools and conditions.
Step 4: Get Paid
We pay you up to 90% of the profits generated on the accounts you traded.
Consummate Traders Trading Accounts
Express Lite Accounts
| Account | Max Daily Loss | Max Loss (DD) | Profit Split | Fee |
|---|---|---|---|---|
| $5k | 6% | 10% | 80% | $69 |
| $15k | 6% | 10% | 80% | $169 |
| $25k | 6% | 10% | 80% | $269 |
| $50k | 6% | 10% | 80% | $499 |
Express Pro Accounts
| Account | Max Loss (DD) | Profit Split | Fee |
|---|---|---|---|
| $5k | 5% | 70% | $229 |
| $15k | 5% | 70% | $669 |
| $25k | 5% | 70% | $1,119 |
| $50k | 5% | 70% | $2,229 |
Bi-Weekly Evaluation Trading Models / Account
| Account | Fees | Max Daily Loss | Profit Split |
|---|---|---|---|
| $5,000 | $57 | 6% | 70% |
| $10,000 | $97 | 6% | 70% |
| $25,000 | $229 | 6% | 70% |
| $50,000 | $344 | 6% | 70% |
| $100,000 | $574 | 6% | 70% |
| $200,000 | $1126 | 6% | 70% |
| $400,000 | $2126 | 6% | 70% |
Is Consummate Traders Legit?
Based on our observation and review, this is out findings. Consummate Traders claims to provide traders with highly funded trading accounts to use to trade forex, but according to the reviews on truspilot it is false. On trustpilot, 25% of Consummate Traders reviews are 1 star with people complaining about consummate traders not paying them, some other people complained about Consummate Traders disabling their accounts for no reason. Some complained about the platform opening up trades on their behalf without their consent, etc.
Be careful before paying for any funded account as most Nigerian prop trading companies are fraud. They claim to provide you with a live funded account, but in reality the account they are providing you is a demo or false account and not live. So all they just need to do is to ensure you loose your trade on that demo account so they can close the account and you loose the fee you used in purchasing the account. Even if you win with those accounts and meet their requirements, those prop companies would not pay you and might disable your account citing flimsy excuses that you breached their rules.