SabioTrade stands as a prominent name in the proprietary trading sector, luring seasoned traders with funded accounts of up to $200,000. Essentially, SabioTrade entrusts traders with capital to manage, in exchange for a percentage of their profits.
Proprietary trading is best suited for individuals with trading expertise but limited capital to achieve substantial gains. Let’s explore how an average person can obtain a funded account with SabioTrade.
What’s so special about SabioTrade?
First and foremost, SabioTrade demonstrates a well-balanced pricing-technology-conditions combination.
— Pricing: SabioTrade provides three plan options, starting at just $50. This presents an exceptionally low entry point for a proprietary trading firm. In many cases, assessment fees can run into several hundreds of dollars or more.
— Technology: SabioTrade introduces a unique feature — an integrated traderoom within the dashboard. Typically, traders are required to use third-party platforms, but SabioTrade’s custom-built ecosystem offers a sleek design and user-friendliness, making it suitable even for beginners.
— Conditions: SabioTrade offers its traders the advantage of generous payouts, reaching up to 90%. Traders can request a payout as soon as they generate a profit, eliminating the need to wait for a specific number of days.
Now, let’s explore SabioTrade’s pros and cons in greater detail.
Pros
- Achievable profit targets: SabioTraders are required to reach a 10% profit target each month to maintain their funded account.
- Diverse array of trading instruments: CFDs on stocks, currency pairs, commodities, indices, and ETFs.
- Smart platform: unlike the classic MT4/5, Sabio’s platform is easy to navigate and uncluttered, although featuring advanced features like multi-charting, analytical tools including 100+ indicators, widgets, and in-built newsfeed, etc.
- Significant leverage choices: from 20:1 to 100:1.
- Free education: SabioTrade offers complimentary educational materials covering technical analysis, trading strategies, psychology, and more.
- Free 7-days trial: Traders have the opportunity to test the platform using a $10,000 demo account, without any obligation.
Cons
- Limited platform access in specific regions, for example in OFAC-listed countries. You will have to check the availability of the platform in your country before you start.
- Absence of high-risk assets or cryptocurrencies, potentially posing challenges for risk-seeking traders.
How to become a Sabiotrader?
The SabioTrade platform is open to traders of all backgrounds and doesn’t require a proven trading history to begin. All you need to do is buy a plan and pass an assessment, demonstrate your trading skills, and meet monthly requirements.
Here’s a step-by-step guide to getting started with SabioTrade:
1) Buy a plan
SabioTrade offers various packages tailored to different capital preferences. For instance, the basic package allows you to acquire a $10,000 account for just $50 — that’s only 0,5% of its actual value. Other packages feature the $50K, $100K, and $200K accounts for $289, $479, and $939, respectively.
If you’re not yet ready for live prop trading, SabioTrade also offers a free Trial account with $10,000 for 7 days.
2) Pass the assessment challenge
Once your payment and registration have been processed, the next step is to demonstrate your trading skills by using the Assessment account, which comes with a $10,000 demo balance. Your objective is to achieve the profit target without breaching the rules.
It’s important to note that you cannot deposit or withdraw funds from your demo account. If your funds are depleted, you have the option to purchase a new package and attempt the assessment again.
To better prepare for the assessment challenge, you can make use of SabioTrade’s complimentary training courses.
3) Prop trading, actually
Upon passing the assessment, you’ll gain access to a live funded account. Here, you can trade with real funds provided by SabioTrade. You can withdraw up to 90% of your profits . Keep in mind that your real account balance is limited to the amount specified in your chosen package and cannot be replenished.
If the assessment doesn’t go as planned, you can continue to practice on the demo account and attempt the assessment as many times as you want.
4) Profit withdrawal
You have the flexibility to withdraw your profits whenever you desire. To initiate a withdrawal request, simply access the Profit Share section within SabioDashboard. This procedure temporarily suspends your funded account to facilitate the withdrawal process and calculate profit shares.
The withdrawn funds are subsequently transferred to your designated bank account, and within approximately 24 hours, your funded account is reactivated, enabling you to resume your trading activities. It’s important to bear in mind that requesting a withdrawal results in a reset of your maximum trailing drawdown to the initial account balance.
SabioTrade platform
As previously mentioned, SabioTrade boasts the convenience of a trade room integrated into the dashboard.
SabioTraderoom, available on Windows, macOS, Android, iOS, and web
The SabioTrade platform is not your typical Metatrader; instead, it’s a proprietary platform — customizable, easy to grasp, and loaded with a range of convenient features:
- 250+ tradable assets
- Up to 9 charts at a time
- Technical indicators (over 100), widgets, and price alerts
- Configurable traderoom layout
- Full trading profile with your deals’ track record
- In-built news feed with related news aggregated from reliable sources
- Trading signals
- 24/7 support
SabioDashboard
In SabioDashboard, traders can conveniently track their performance, including monitoring how much remains to be traded to reach the profit target, checking the balance, equity, and whether the loss limit has been exceeded.
In your personal area, you can access platform tutorials, free educational materials, trading signals, and also reach out to the 24/7 support team.
SabioTrade’s fees and commissions
Aside from the assessment costs and the stated profit percentage, SabioTrade does not impose any additional fees. You should expect to pay for spreads as usual during your trading activities. Sabio does not levy fees on deposits and withdrawals.
Conclusion
SabioTrade offers traders the opportunity to manage funded accounts of up to $200,000. This approach empowers traders by entrusting them with capital to manage, and in return, SabioTrade shares a percentage of the profits. It’s a solution tailored for traders with expertise but limited capital, providing a risk-free path to substantial gains.
SabioTrade distinguishes itself with balanced pricing, exceptional services, and favorable conditions. Traders can choose from different plans with prices starting at just $50, a notably low threshold in the industry. The unique integration of a trade room within the SabioDashboard simplifies the trading process, and traders can enjoy payouts of up to 90%, with no waiting period for withdrawals.
SabioTrade boasts attainable profit targets, a diverse range of trading instruments, a user-friendly platform with advanced tools, leverage options from 20:1 to 100:1, free educational courses, and a risk-free 7-day trial account. However, there are limitations in platform access in specific regions, and the absence of high-risk assets or cryptocurrencies may not suit risk-seeking traders.
