The Concept Trading is an Australian prop firm with a scaling opportunity of up to a whopping $50M. Also, the firm offers access to instant funding programs, which is appealing to many traders.
There are other benefits, including a profit split of up to 90% and static drawdown. But is The Concept Trading really suitable for you? In this balanced and thorough review, we will investigate its pros & cons and all its aspects in detail.
Company Information Overview
The Concept Trading, an Australian-based prop trading firm that was founded in 2021. There's not much information available about the company, but it's located at Tower 2, Suite 01, 55 Plaza Parade, Maroochydore, QLD 4558.
Summary Of Important Specifics
The Concept Trading offers a range of features designed to attract and retain traders. Here's a quick overview:
Account Currency | USD, AUD |
Minimum Price | $97 |
Maximum Leverage | 1:200 |
Maximum Profit Split | 90% |
Instruments | Forex, Metals, Energy Sources, Cryptocurrencies, Commodities, indices |
Assets | Not Specified |
Evaluation Steps | 1-Step, Instant Funding |
Withdrawal Methods | Wise, Crypto, Bank Transfers |
Maximum Fund Size | $50M |
First Profit Target | From 6% |
Max. Daily Loss | N/A |
Challenge Time Limit | Unlimited |
News Trading | Yes |
Maximum Total Drawdown | Up to 10% |
Trading Platforms | MetaTrader 4, MetaTrader 5 |
Commission Per Round Lot | $7 per Round Lot for Pro Spreads None for Normal Spreads |
Trustpilot Score | 4.5/5 |
Payout Frequency | Weekly |
Established Country | Australia |
Established Year | 2021 |
Pros and Cons
Like any trading platform, The Concept Trading has its advantages and disadvantages. Here's a balanced look at what traders can expect:
Pros | Cons |
High Scaling Potential (Up to $50M) | Higher Fees For Some Programs Compared To Other Prop Firms |
Instant Funding Options Available | No Vast Offerings in Educational Content |
No Restrictions on Trading Strategies | - |
90% Profit Sharing | - |
Funding Sizes and Program Prices
The Concept Trading offers a vast range of various funding models to suit different trader needs and budgets. Here's a breakdown of their offerings in 4 programs:
Traditional:
Starting Funds | Price |
$1,000 | $97 |
$1,500 | $147 |
$2,000 | $197 |
$2,500 | $247 |
Premier:
Starting Funds | Price |
$3,000 | $297 |
$5,000 | $497 |
$10,000 | $997 |
$17,000 (Instant Funding) | $1,197 |
$25,000 | $2,497 |
Empire:
Starting Funds | Price |
$10,000 | $997 |
$25,000 | $2,497 |
$50,000 | $4,997 |
$50,000 (Instant Funding) | $5,996 |
$100,000 | $9,997 |
$200,000 | $19,997 |
Xtreme:
Starting Funds | Price |
$10,000 | $300 |
$20,000 | $600 |
$20,000 (Instant Funding) | $720 |
$50,000 | $2,000 |
$100,000 | $5,000 |
Signing Up and Authorization Tutorial
Opening an account with The Concept Trading takes the typical approach among prop firms, designed to get traders up and running quickly. Here's a step-by-step guide:
- Visit the firm's main website and click "Get Funded";
- Choose your desired program and scroll down;
- After selecting your platform, currency, and spread model, click "Checkout";
- Provide your name, address, email, and country of residence in the form;
- Choose your preferred option for payment and pay the initial fee.
Now, you have bought a program and created an account with the prop firm. The verification process typically involves:
- Providing a government-issued ID
- Proof of address
- A selfie holding your ID
The Concept Trading Evaluation Models
Evaluation programs are one of the main factors to consider when choosing a prop trading firm. TCT provides various options by offering 4 distinct programs. These models are 1-step, and three of them (Premier, Empire, Xtreme) provide an instant funding option:
Program Type | Traditional | Premier | Empire | Xtreme |
Scaling | 70% | Approx. 50% | 80% | |
Trading Days | Unlimited | |||
Leverage | 200 | 30 | ||
Profit Target | 6% | 7% | 10% | 6% |
Max. Drawdown | 4% | 5% | 10% | 3% |
Overall, the evaluation rules on this prop firm are more difficult than the average in the industry.
Does The Concept Trading Prop Firm Offer Any Bonuses And Promotions?
As of the latest information available, the firm does not offer any specific bonuses or promotions. However, like many other prop firms, there are discount codes on the web and official sources. Currently, you can use code [MONSETER30] for a 30% discount on select programs.
Which Instruments Are Tradable with The Concept Trading?
The company offers a diverse range of tradable assets via its partner brokers. Traders can access:
- Forex majors, minors, crosses, and exotics
- Metals
- Energy Sources
- Cryptocurrencies
- Indices
- Commodities
This wide selection allows traders to diversify their portfolios take advantage of different market conditions.
Payouts and Payments Options
The Concept Trading offers a variety of payment methods to accommodate traders from different regions and with different preferences. Payments:
- Credit/debit cards
- PayPal
- Crypto transactions
Payouts:
- Wise platform
- Bank transfers
- PayPal
- Cryptocurrency payments
TCT's website does not go into detail about payment options, and has provided an overall image only.
Does The Concept Trading Charge Any Commissions on Trading?
Knowing about the fee structure is critical when choosing a prop firm. There are two options while purchasing a program on TCT: Normal Spreads & Pro Spreads.
- Pro: A $7 per round lot charged by the broker with tighter spreads
- Normal: No commission on trading in cost of wider spreads
There are no specific data about the commissions and costs on other operations with the firm.
User Reviews and Trust Scores
Evaluations made by users and experts on websites such as Trustpilot can provide valuable insights into a prop firm's reputation. Let's discuss these ratings:
- Trustpilot: 4.5/5 based on more than 300 reviews
- io: 4.3/5, an average of over 30 scores with 82% of reviewers recommending the company
Overall, The Concept Trading has received positive and decent trust scores on reputable websites. It's important to note that trust scores can fluctuate and should be considered alongside other factors when evaluating a prop firm.
How and When to Contact The Concept Trading's Support
Customer support is a critical section in any trading firm. The Concept Trading offers several channels for customer assistance:
- Ticket System: Available for everyone on the website
- Email: admin@theconcepttrading.com
- Phone: +61 7 4599 3855
- Live Chat: Accessible for anyone via the website
There's no information regarding the support team's working hours on the website. However, during our contact with them, they stated that "the live chat is open 24/7".
Social Media Channels and Accounts
In today's digital age, a strong social media presence can be indicative of a company's engagement with its community. The Concept Trading maintains profiles on several social media platforms:
- Facebook: https://www.facebook.com/theconcepttrading
- X (Twitter): https://twitter.com/TConceptTrading
- LinkedIn: https://www.linkedin.com/in/the-concept-trading-756ab4234/
- Instagram: https://www.instagram.com/the_concept_trading/
- Youtube: https://www.youtube.com/channel/UCZ7ah6NoNu8BQwr1C-whFzQ
Expert Suggestions
The Concept Trading is a unique Australian prop firm since it claims to provide up to $50,000,000 scaled funding, which is very rare among prop firms. Also, it has received very good reviews on relevant platforms.
However, the trading rules for evaluation programs are not easy to pass, and the website could be more informative about some aspects.
Overall, we recommend this prop firm, but you should always put your own research before anything else.
