Optimal Traders Review: Optimal Service Comes at High Price

While this firm may be legally incorporated in the UAE, we still have questions about their broker partner and non-refundable entrance fees. 

User reviews may appear quite positive and with highest available ratings, however, in our line of work, that may imply the involvement of other strategies. See the remainder of our Optimal Traders review for a detailed insight and a non-biased report.

Registration: UAE Prop Firm

In the database kept by the UAE Ministry of Economy, we did manage to locate OTS Research company which is the owner of the prop firm we’re reviewing. Legal details say that the company was incorporated in 2022 and does business in educational technologies, research and development.

However, the UK address is also given, but not the name of their company that allegedly operates out of the UK. It isn’t revealed what is the company name of the UK branch, but we found no entry in the FCA database under the name of OTS Research. While UK prop firms do not need standard regulation, they require a FCA registration.

Activity on Social Networks

Although less than two years old, Optimal Traders prop firm has established its own social networks to connect with potential clientele from all over the world. However, it doesn’t seem like the company representatives are overly active on social platforms. Nonetheless, the company is present on LinkedIn, Instagram, and X.

The main advantages that the company markets are several challenges available, MT5 as preferred platform and 80% split. However, some may argue that these aren’t quite the most competitive conditions, and that there’s prop trading firms with better terms to offer.

User Ratings: Almost Flawless

We couldn’t help but notice the majority of Optimal Traders reviews on Trustpilot are positive and with highest ratings. There’s a few reviews here and there, however, that are riddled with complaints about the company not allowing payouts and customer services being unresponsive. Negative reviews offer good insight into a company’s real potential and competitiveness, like in the case of SecuX.

In addition, the fact that there’s no reviews posted on other popular review sites suggests this company might be resorting to paid reviews in order to boost their credibility and online popularity.

Partnered With an Offshore Broker

This firm collaborates with an offshore brokerage brand, located in a tax haven called St. Lucia. The name of the broker is Reze Markets. 

Being an off the grid trading firm, where Forex brands aren’t regulated, Reze Markets poses a significant threat to safety of funds and Optimal Traders payout. Therefore, we advise our readers to be extremely cautious and perhaps choose our prop firm which offers top notch service and safety.

Featured Platform and Trading Costs

There’s no doubt about MetaTrader 5 being the most preferred trading platform worldwide. What makes this uniquely rich and advanced software stand out in the sea of others is its flexibility and the amount of helpful tools and features.

However, being offered by a questionable offshore brokerage pretty much defeats the purpose of safe and reliable trading. At that, we don’t see anywhere clarified what are some basic trading parameters, such as spreads. The available leverage is 1:33, with trading commissions $3 per side.

Challenge and Evaluations

The amount of work needed to be invested in getting to the Optimal Traders funded account is not a childs play. Only traders that prove themselves to be sufficiently skilled and effective in money making can pass the evolution process. 

This firm concretely offers several types of challenges and each demands a certain amount of cash to be invested prior to entering the test.

2-Step Challenge

This type of evaluation requires traders to pass two phases to unlock a funded account. In the first phase, the profit target is 8%, while the other only demands 4% profit to be achieved. There are no minimum trading days during which you have to be active and the maximum drawdown is 10%. Here are the fees related to each available funding amount:

• $5,000 – $59
• $10,000 – $99
• $25,000 – $159
• $50,000 – $329
• $100,000 – $509
• $200,000 – $959

1-Step Algo

This Optimal Traders evaluation phase differs from the other ones in the number of phases and the fact that Expert Advisors are allowed to be used during the evaluation. The website says that the profit target is 10% and the maximum drawdown is 8% relative. Entrance fees are somewhat higher, however, and here’s how they go:

• $25.000 – $289
• $50.000 – $389
• $100.000 – $589
• $200.000 – $999

1-Step Standard

As you can already assume, during this evaluation EAs are not available for use, but the profit target remains the same – 10%. On the other hand, maximum drawdown is only 6% relative, which is less flexible than in comparison to the first two challenges. Naturally, the pricing is also different:

• $5,000 – $89
• $10,000 – $189
• $25,000 – $289
• $50,000 – $389
• $100,000 – $589
• $200,000 – $999

Facts About Payouts

While the general rule is that the Optimal Traders profit split is 80%, some slight differences do exist. For example, live accounts that have started from the 1-Step Algo challenge have their profits split at 50%, then 70% and lastly 80%. 

Payout requests need 2 days to be processed, with additional 3 days for the funds to arrive in your wallet. All withdrawals can only be sent via crypto currencies. This is not the safest transaction channel, so you should probably opt for safer options. For making sure your crypto assets are safely stored, consider using Bitfi.

Check Out Our Suggestion!

In terms of a variety of challenges and trading rules, this company sure leaves a positive impression. However, discrepancies are found in many elements. Partner broker, unclarified trading terms, high Optimal Traders price per account not being refunded are all sources of concern. 

In order to have a piece of mind and still get well funded, we recommend you try out our offer. Our prop firm representatives are always available for a zoom meeting, so contact us and let’s collaborate!

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