Optimal Traders is one of the prop trading firms operating in the United Arab Emirates with benefits such as a profit split of up to 80% and funding up to $6.5M. However, the most important factor about a prop trading firm is its reliability.
In this comprehensive Optimal Traders review, we will delve deep into its various aspects, and answer the question above.
Company Overview
Optimal Traders is a proprietary trading firm headquartered in the bustling financial hub of Dubai, United Arab Emirates. Also, it has 2 other offices in the United Kingdom and Uzbekistan. Office Addresses:
- Headquarters: Dubai Silicon Oasis, DDP, Building A2, Dubai, United Arab Emirates
- UK Office: 67-169 Great Portland Street, 5th Floor, London, W1W 5PF
- Uzbikestan Office: 2 Muzrobot Street, Mirzo Ulugbek District, Tashkent
Summary Of Key Features
Here's a general overview of what Optimal Traders brings to the table:
Account Currency | USD |
Minimum Price | $59 |
Maximum Leverage | 1:33 |
Maximum Profit Split | 80% |
Instruments | No Data |
Assets | No Data |
Evaluation Steps | 1-Step, 2-Step |
Withdrawal Methods | No Data |
Maximum Fund Size | $400,000 |
First Profit Target | From 8% |
Max. Daily Loss | Up to 5% |
Challenge Time Limit | No Limits |
News Trading | Allowed |
Maximum Total Drawdown | Up to 10% |
Trading Platforms | MetaTrader 5 |
Commission Per Round Lot | No Data |
Trustpilot Score | 4.0 |
Payout Frequency | Bi-weekly |
Established Country | United Arab Emirates |
Established Year | 2023 |
Pros and Cons
Optimal Traders might be a good firm, but in order to make a balanced decision, you need to look at it from a balanced perspective. In the table below, we will take a look at Optimal Traders' advantages and disadvantages:
Pros | Cons |
High Capital Allocation (Up To $6.5M) | Limited Educational Resources Compared To Some Competitors |
No Time Limits On Trading Challenges | Limited Information On Scaling Opportunities |
Weekend Trading Allowed | No 24/7 Support Despite Their Claims |
How Is The Funding and Price Structure on Optimal Traders?
The company offers a range of funding options to suit different trader needs and budgets. Here's a breakdown of their pricing and funding structure:
Account Size | $5K | $10K | 25K | $50K | $100K | $200K |
Price for 1-Step Standard | $89 | $19 | $289 | $389 | $589 | $999 |
Price for 1-Step Algo | N/A | $199 | $319 | $429 | $649 | $1,099 |
Price for 2-Step Challenge | $59 | $99 | $159 | $329 | $509 | $959 |
Evaluation Stages in Detail
Optimal Traders offers three main evaluation programs to provide the facility for traders with different mindsets. In this section, we will investigate each model in detail:
Program | 2-Step Challenge | 1-Step Algo | 1-Step Standard |
Profit Target | 8%-4% | 10% | 10% |
Max. Daily Loss | 5% | 4% Relative | N/A |
Max. Total Drawdown | 10% | 8% Relative | 6% Relative |
Min. Trading Days | 5 Days in the Live Account | ||
Expert Advisors | Allowed | Allowed | Prohibited |
Traders can choose the program that best aligns with their trading style, risk tolerance, and experience level.
Bonuses and Promotions in Optimal Traders
As of the latest information available, the firm does not offer specific bonuses or promotions. This is similar to the approach that most other prop firms have towards bonuses. However, this might change in the future. Therefore, always check for any updates and changes.
Tradable Markets and Available Instruments
We investigated the website for any information and data related to the amount and variety of tradable assets in the prop firm, and found nothing. The company does not reveal much information on its website, and this is a drawback.
What Options Do You Have For Payments on Optimal Traders?
Based on our investigations, you can make payments for challenge fees via these methods and solutions:
- Cryptocurrencies;
- Credit/debit cards (Mastercard/VISA);
- American Express;
- Discover;
- JCB;
There's no information available on the provided options for payouts and withdrawals, though.
Commissions And Costs
Optimal Traders prides itself on offering competitive commissions and low trading costs. However, it does not provide any data on the exact or approximate amount of spreads and commissions in trading. It just says on the website that they offer "ultra-low commissions and spreads".
This is another downside for the prop firm, and should be considered.
Trust Scores and Firm Evaluation on Platforms
Optimal Traders has received a respectable Trustpilot score of 4.0 out of 5 stars, indicating generally positive feedback from users. Key Statistics:
- Over 150 reviews;
- More than 70% of ratings are 5-star;
- The firm asks for reviews, no matter positive or negative;
- It has replied to 65%+ of negative comments.
Overall, OT has achieved a good result on the mentioned website. However, there are no reviews on other reputable platforms. This could be because of its short track record.
Customer Services: Contact Channels and Schedule
Usually, companies provide several contact channels for their support department. Support Channels in Optimal Traders:
- Live Chat: Available directly on the website or WhatsApp for quick queries
- Email: support@optimal-traders.com
The firm does not provide any phone support. It claims to offer services 24/7, but during our attempt to contact support via live chat, we got this reply:
Therefore, it appears that the company's claim is nothing more than what they have stated on their website. This is a major con in its quality of services.
Social Media Pages
Optimal Traders tries to post insights and updates on a few social network platforms. In the list below, we will provide links to each corresponding account:
- X (Formerly Twitter): https://twitter.com/OptimalTrdrs
- Instagram: https://www.instagram.com/optimaltraders/
- Discord: https://discord.gg/uZMQ8uGDta
- Linkedin: https://www.linkedin.com/company/optimal-traders
Expert Suggestions
Optimal Traders is a decent prop firm with several advantages and features such as a whopping amount of up to $6.5M funding and 3 various evaluation programs. However, its drawbacks are also considerable.
The website does not contain enough information on some important topics such as the scaling procedure. Also, the customer support was disappointing in our experience.
