Consummate Traders review

 

Overall, Consummate Traders can be summarised as a trustworthy and highly regulated Forex Broker that is very competitive in terms of its trading fees. Consummate Traders offers an easy-to-use social copy trading platform with excellent customer support.  Consummate Traders has a trust score of 92 out of 99.

 

🔎 Date Established2022
📈 RegulationASIC through Kwakol Markets
📉 HeadquarteredNigeria
📊 Registered in NigeriaYes, under 1902693
💹 Legal Address in Nigeria169 Ademola Adetokumbo Crescent, Wuse 2, Abuja, FCT
🖱️ Social Media Platform LinksTwitter
Facebook
Instagram
LinkedIn
Discord
📌 Tradable InstrumentsForex
Cryptocurrencies
Commodities
Indices
Stocks
CFDs
Synthetic Indices
📍 Trading PlatformsMetaTrader 4
MetaTrader 5
↪️ Maximum Leverage1:100
☎️ Office Contact Number+1 (903) 320-4954
🥰 Customer Support ChannelsSocial Media
Email
Telephone
WhatsApp
📍 Website LanguagesEnglish, Japanese, Arabic, Spanish, French, Thai, Italian, Portuguese, Chinese
⏰ Customer Support Hours24/5
🚀 Open an Account👉 Click Here

 

Consummate Traders

 

Consummate Traders Review – Analysis of Brokers’ Main Features

 

  1. ☑️ Consummate Traders Overview
  2. ☑️ Key Features of Consummate Traders
  3. ☑️ Understanding Proprietary Trading
  4. ☑️ Getting Started with Consummate Traders
  5. ☑️ Comparing Consummate Traders with Other Proprietary Trading Firms
  6. ☑️ Consummate Traders Affiliate Program
  7. ☑️ Consummate Trader Geographic Reach and Web Traffic
  8. ☑️ Consummate Traders Key Points for Improvement
  9. ☑️ Consummate Traders User Reviews
  10. ☑️ Consummate Traders Pros and Cons
  11. ☑️ In Conclusion
  12. ☑️ Frequently Asked Questions

 

 

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

ASIC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

N/A

Islamic Account

N/A

Trading Fees

Trading Models

Account Activation Time

24 Hours

 

 

Consummate Traders Overview

 

Overall, Consummate Traders is a proprietary trading company that provides retail traders with enough capital to achieve financial freedom. They invest their resources in a trader instead of using clients’ money, a practice known as “Prop trading”.

This allows traders to access larger capital to trade and maximize their profit. They offer the opportunity to trade over 1,000 instruments, including stocks, crypto, and forex.

Consummate Traders is working with Kwakol Markets, an ASIC-regulated multi-asset broker, providing a level of security for funds

 

Consummate Traders Overview

 

Key Features of Consummate Traders

 

Consummate Traders offers several trading models: Evaluation, Express-Lite, Express-Pro, and Synthetics.

 

Evaluation Model

 

Before embarking on live trading with Consummate Traders Proprietary, Nigerian traders must demonstrate their trading abilities and risk management skills through Trading Challenges.

These challenges serve as a means to showcase discipline and experience in trading. Nigerian traders can choose their preferred trading style, as we do not impose any restrictions on the instruments or position sizes they can trade.

This model includes account values from $5,000 to $400,000 with profit targets of 8% in Phase I (60 days) and 5% in Phase II (60 days). The leverage is 1:100 with no minimum trading days, scaling up by 20% after every 10% made within 3 consecutive months.

Maximum daily loss and maximum loss (drawdown) vary depending on the account value. The profit split is 80% for the first month, 85% for the second month, and 90% for subsequent months.

 

🔎 Account📈 Profit Target📉 Leverage📊 Min. Trading Days💹 Scaling Up💴 Max Daily Loss💵 Max Loss (DD)📌 Profit Split💶 Refundable Fee
🥇 $5,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$300$600First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$49
🥈 $10,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$600$1,200First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$84
🥉 $25,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$1,500$3,000First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$199
🏅 $50,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$3,000$6,000First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$299
🎖️ $100,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$6,000$12,000First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$499
🥇 $200,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$12,000$24,000First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$979
🥈 $400,000Phase I = 8%1:100No minimumScale-up by 20% after every 10% made within 3 consecutive months$24,000$48,000First Funded Month – 80% profit + 15% of Evaluation Phase + Registration Fee<
Second Funded Month – 85% profit<
Subsequent Months – 90%
$1,849

 

Evaluation Model

 

Express-Lite Model

 

The Express-Lite package, tailored for Nigerian traders, includes a one-time assessment phase.

This package comes with a one-time assessment phase where you must hit a profit target of 10% within 2 months, with 15% of your profit kept during the assessment phase, and then 90% afterward. There is a 20% scaling for every 15% made within 3 months after the assessment phase.

 

🔎 Account📈 Profit Target📉 Leverage📊 Min. Trading Days📌 Scaling Up📍 Max Daily Loss↪️ Max Loss (DD)💱 Profit Split💷 Fee
💴 $5k10% within 2 months, then no target afterwards1:100No minimum20% scaling for every 15% made within 3 months after the assessment phase6%10%80% profit split + 15% for the first month after the assessment phase$69
💵 $15k10% within 2 months, then no target afterwards1:100No minimum20% scaling for every 15% made within 3 months after the assessment phase6%10%80% profit split + 15% for the first month after the assessment phase$169
💶 $25k10% within 2 months, then no target afterwards1:100No minimum20% scaling for every 15% made within 3 months after the assessment phase6%10%80% profit split + 15% for the first month after the assessment phase$269
💷 $50k10% within 2 months, then no target afterwards1:100No minimum20% scaling for every 15% made within 3 months after the assessment phase6%10%80% profit split + 15% for the first month after the assessment phase$499

 

Express-Lite Model

 

Express-Pro (Non-Consistency)

 

The Express-Pro package, designed for Nigerian traders, provides direct access to a live funded account without needing an evaluation or assessment phase.

There are no specific profit targets associated with this package. Traders under the Express-Pro model benefit from a 70% profit split and receive monthly payouts.

This package offers a direct LIVE funded account without evaluation or assessment phase and no profit target. It provides a 70% profit split with monthly pay-outs and offers 20% scaling for every 10% profit made after three months.

 

🔎 Account📈 Leverage📉 Scaling Up📊 Challenge Period💹 Min Trading Days📌 Max Loss (DD)📍 Profit SplitFee
💴 $5k1:10020% scaling for every 10% profit made after three (3) months.05 Days5%70%$229
💵 $15k1:10020% scaling for every 10% profit made after three (3) months.05 Days5%70%$669
💶 $25k1:10020% scaling for every 10% profit made after three (3) months.05 Days5%70%$1,119
💷 $50k1:10020% scaling for every 10% profit made after three (3) months.05 Days5%70%$2,229

 

Express-Pro (Non-Consistency)

 

Synthetics

 

The Synthetics package caters to Nigerian traders who wish to trade synthetic indices. These indices mirror real-world market movements but are not influenced by real-world events. They offer consistent volatility and are free from market and liquidity risks.

Nigerian traders must undergo a two-phase evaluation process to gain access to a funded account under the Synthetics package. This evaluation is aimed at validating their trading skills and abilities.

This model requires two evaluation phases to access a funded account, with a profit target of 10% in Phase I (30 days) and 8% in Phase II (30 days). The profit split is 70%.

 

🔎 Account📈 Leverage📉 Max Daily Loss📊 Max Loss💹 Profit Target📌 Min Trading Days📍 Profit Split💷 Fee
💴 $5k1:1005%10%Phase I = 10% (30-Days)7 Days70%$99
💵 $10k1:1005%10%Phase I = 10% (30-Days)7 Days70%$189
💶 $20k1:1005%10%Phase I = 10% (30-Days)7 Days70%$249

 

Synthetics

 

Understanding Proprietary Trading

 

Proprietary trading is a distinct form of trading in financial markets where financial institutions, such as banks, investment firms, or hedge funds, use their capital to engage in trading activities.

Unlike traditional trading, where institutions act on behalf of clients, proprietary trading involves the institutions speculating and taking positions in various financial instruments to generate profits for themselves.

In this section, we will delve into the concept of proprietary trading, its importance in financial markets, and the benefits it brings.

 

What is Proprietary Trading?

 

Proprietary trading is a distinctive form of trading in financial markets where firms like Consummate Traders utilize their capital to engage in trading activities.

As a prop trading firm, Consummate Traders employs experienced traders who use the firm’s resources to speculate and take positions in various financial instruments to generate profits.

Unlike traditional trading, where institutions act on behalf of clients, proprietary trading focuses on benefiting the firm itself.

 

 

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

ASIC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

N/A

Islamic Account

N/A

Trading Fees

Trading Models

Account Activation Time

24 Hours

 

 

Importance of Proprietary Trading in Financial Markets

 

Liquidity Provision

 

Consummate Traders’ proprietary trading activities contribute to the liquidity of financial markets. Through active participation, the firm increases trading volume and depth, ensuring the smooth execution of trades for all market participants.

By providing liquidity, Consummate Traders enhances price discovery and reduces bid-ask spreads, facilitating fair market pricing.

 

Risk Management

 

Proprietary trading plays a vital role in Consummate Traders’ risk management strategies. By utilizing its capital, the firm can offset risks associated with other business activities, such as investments or client positions.

The ability to actively trade and take positions across various markets allows Consummate Traders to diversify risk and hedge against adverse market movements.

 

Price Efficiency

 

Consummate Traders’ proprietary trading activities promote price efficiency in financial markets. The firm’s skilled traders analyze market inefficiencies and mispricing, seizing opportunities to exploit them.

By doing so, Consummate Traders help correct price discrepancies, aligning market prices more accurately with their underlying fundamental values. This benefits all market participants and enhances overall market efficiency.

 

Profit Generation

 

Proprietary trading is a significant avenue for Consummate Traders to generate profits independently. Successful proprietary trading strategies contribute to the firm’s overall profitability.

The profits earned from proprietary trading can be reinvested in the business, supporting operations, research, and development, and facilitating growth and expansion.

 

Research and Development

 

Proprietary trading at Consummate Traders fosters continuous research and development efforts to improve trading strategies and gain a competitive edge.

The firm invests in innovative trading techniques, technologies, and analytical tools to enhance trading performance. These advancements benefit Consummate Traders and contribute to advancing trading practices and technologies within the broader financial industry.

 

Talent Development

 

As a prop trading firm, Consummate Traders attracts and develops talented traders. The firm’s commitment to talent development ensures the presence of skilled professionals with deep market knowledge, analytical skills, and risk management expertise.

These traders contribute to the overall efficiency of financial markets, promoting liquidity, price discovery, and risk management practices.

 

Understanding Proprietary Trading

 

Getting Started with Consummate Traders

 

Sign Up with Consummate Traders

 

To begin, you need to sign up on the Consummate Traders website. This can be done by clicking on the sign-up link located on the site​.

 

Verify Your Account

 

After signing up, you must verify your account by uploading your Know Your Customer (KYC) documents. KYC is a standard verification process that confirms the identity of the customer.

This process is typically completed by uploading documents that prove your identity and address, such as a passport or driver’s license and a utility bill or bank statement.

 

Make a Deposit

 

Once your account is verified, you can make a deposit. To do this, navigate to the client area on the site, click on ‘Financial’, and select ‘Deposit’. You then choose your preferred deposit method and proceed to make your deposit. A tutorial video is available that guides you on how to do this.

 

Select an Account Model

 

After making a successful deposit, select the account model you wish to purchase. You do this by navigating to the ‘Product’ section, selecting the account model of your choice, and then clicking on ‘Buy’​​.

 

Receive Your Login Details

 

Your login details will be sent to your email after purchasing an account model. You can also find them in the ‘Challenge’ section of your dashboard on the website.

 

Log in and trade

 

The last step is to log into your account and start trading. Consummate Traders provides various trading options, so you can choose the one that best suits your trading style and financial goals.

 

Familiarise Yourself with the Trading Rules

 

You must understand the rules guiding trading with Consummate Traders. To do this, visit the website where they have detailed information about the rules and regulations for trading​.

 

Getting Started with Consummate Traders

 

Comparing Consummate Traders with Other Proprietary Trading Firms

 

The following are alternatives to Consummate Traders:

 

  • ✅ TopStepTrader
  • ✅ Maverick Trading
  • ✅ SMB Capital

 

 

TopStepTrader

 

TopStepTrader is a proprietary trading firm that provides funding to traders who pass their evaluation.  The firm offers a platform where traders can trade futures contracts and forex without risking their capital.

They focus on risk management and provide traders with educational resources to improve their skills.

 

TopStepTrader

 

Maverick Trading

 

Maverick Trading stands as a prominent proprietary trading firm established in 1997. With a focus on private equity trading, Maverick Trading offers an opportunity for aspiring traders to embark on a journey toward success.

The company specializes in nurturing and guiding beginner traders, equipping them with proprietary trading strategies and tactics to navigate the markets effectively.

 

Maverick Trading

 

SMB Capital

 

SMB Capital, founded in 2005 by Mike Bellafiore and Steven Spencer, is a renowned proprietary trading firm in NYC. Unlike traditional programs, SMB Capital provides capital to successful traders.

With a commitment to empowering traders, SMB Capital equips individuals with the necessary skills and knowledge to navigate the markets effectively, solidifying their position as a leading firm in the industry.

 

SMB Capital

 

What Sets Consummate Traders Apart?

 

The following are some of Consummate Traders’ unique selling points:

 

  • ✅ Range of Trading Models: Consummate Traders offers a variety of trading models to suit different trader preferences, including Evaluation, Express-Lite, Express-Pro, and Synthetics. These models offer different account sizes, profit targets, leverage, scaling-up conditions, maximum daily loss limits, and profit splits​.
  • ✅ MT4 and MT5 Trading: Consummate Traders provides access to MetaTrader 4 and MetaTrader 5 platforms, popular among CFD traders for automated, manual, and social trading.

 

 

Finally, Consummate Traders works with Kwakol Markets, an ASIC-regulated multi-asset broker, which provides trust and security for traders using their platform.

 

What Sets Consummate Traders Apart

 

Consummate Traders Affiliate Program

 

The Consummate Traders Affiliate Program allows participants to invite friends and earn a commission on every account their referrals purchase.

By sharing the program with others, affiliates can earn rewards based on the referral commission milestones they achieve.

Additionally, affiliates can give away a percentage of the commission to their referral, which will be deducted from the price of the challenge the referral acquires.

Get amazing rewards for every referral milestone you make. The following table presents the referral commission milestones and corresponding rewards:

 

🔎 Referral Commission🎁 Reward
💴 $1,000$10,000 Free Evaluation Account
💵 $2,500$50,000 Free Evaluation Account or $250 Cash
💶 $5,000$500 Cash or AirPods Pro Max
💷 $25,000$2,000 Cash or the Latest iPhone
💴 $50,000$5,000 Cash or Luxury Wristwatch
💵 $120,000$5,000 Cash or 5 Day Trip to Maldives
💶 $300,000$30,000 Cash or Luxury Car
💷 $1m$100,000 Cash or Luxury Supercar
💴 $1m+Reach $1m and above and receive an extra $50k for every $500k milestone

 

Consummate Traders Affiliate Program

 

Consummate Trader Geographic Reach and Web Traffic

 

Market Share and Distribution

 

Consummate Traders’ services are popular in these regions:

 

  • ✅ Nigeria – 52.88%
  • ✅ United Kingdom – 6.68%
  • ✅ Philippines – 6.60%
  • ✅ United States – 3.62%
  • ✅ Kenya – 3.08%

 

 

Consummate Trader Traffic and Engagement

 

🌎 Global Rank92,581 (Worldwide)
📈 Country Rank547 (Nigeria)
📉 Category Rank32 (Investing)
📊 Bounce Rate29.25%
💹 Pages per Visit11.17
📌 Monthly Visits (Average)391.4K
⏰ Average Visit Duration00:09:19

 

Consummate Trader Traffic Sources

 

Most traffic sources originate from the following:

 

  • ✅ Direct – 48.96%
  • ✅ Search – 26.47%
  • ✅ Social – 13.37%
  • ✅ Email – 6.62%
  • ✅ Referrals – 1.59%

 

Consummate Trader Traffic Sources

 

Consummate Traders Key Points for Improvement

 

Clarity on Evaluation Criteria

 

Consummate Traders could provide more explicit information about the evaluation phases required in some of their trading models. Clear guidelines on what is expected of traders during these phases could help potential users better understand what they are signing up for.

 

Customer Support and Education

 

While Consummate Traders offers various account models and trading instruments, they could benefit from offering more comprehensive educational resources or customer support to help traders navigate their platform and understand their trading models better.

 

Transparency on Fee Structure

 

There is a lack of explicit information on potential fees associated with using Consummate Traders’ services. More transparency about any additional fees or costs would benefit potential users.

 

User Reviews and Testimonials

 

Consummate Traders could benefit from showcasing user reviews and testimonials on its website. This can build trust with potential customers and provide a more realistic picture of what to expect from their services.

 

Consummate Traders Key Points for Improvement

 

Consummate Traders User Reviews

 

🥇 Worthwhile

Despite experiencing a slight delay, I must express that the overall experience with Consummate Traders has been worthwhile. However, there are areas within the company that would benefit from improvement. One such area is the responsiveness of their customer service support. Prompt and efficient resolution of issues would elevate Consummate Traders to prominence within the industry. I appreciate how the support team resolved the account-related confusion. While I maintained trust in their ability to rectify the situation, it was regrettably lengthy. – Samantha Collins

 

 

🥈 Swift Process!

The swiftness with which Consummate Traders processes profit splits is commendable, allowing traders to promptly reap the rewards of their trading efforts without unnecessary delays. – Ethan Rodriguez

 

 

🥉 Excellent!

Consummate Traders transcends the role of a mere proprietary trading firm; it establishes itself as a supportive community that nurtures the growth of traders. If one harbors genuine aspirations of elevating their trading understanding to new heights, Consummate Traders is unequivocally the proprietary trading firm of choice. – Maya Patel

 

 

Consummate Traders Pros and Cons

 

The Pros of signing up with Consummate Trader will include:

 

  • ✅ Provides access to larger capital to trade and potentially maximize profits.
  • ✅ Offers trading on over 1000 instruments, including stocks, crypto, forex, and more.
  • ✅ Backed by Kwakol Markets, an ASIC-regulated multi-asset broker, which might help ensure the funds’ security.
  • ✅ Multiple trading models are available to suit different trader profiles, including models with an evaluation phase and models with direct live funded accounts​.
  • ✅ Supports trading on the popular MT4 and MT5 platforms​.
  • ✅ Provides a straightforward process to get started with their platform​.

 

 

The Cons of Signing up with Consummate Traders may include:

 

  • ✅ The profit target and maximum loss vary depending on the account size and the chosen trading model, which may not be suitable for all traders.
  • ✅ There are rules guiding trading with Consummate Traders, which may limit some trading strategies.

 

 

Some trading models require a successful evaluation phase before granting access to a funded account​.

 

 

In Conclusion

 

Consummate Traders offers a unique approach to proprietary trading by providing traders access to large capital and various trading models. A regulated broker backs them and supports popular trading platforms, which could benefit many traders.

However, the company could improve by providing clear information about its evaluation phases and potential fees and offering more extensive educational resources.

As with any investment platform, potential users should consider the trading models, rules, and maximum losses associated with each account before deciding to invest.

It is also worth noting that the success of any trading endeavor depends on the trader’s knowledge, skills, and risk tolerance. Thus, education and a proper understanding of the market, as promoted by “Learn Forex with Dapo,” are key to making informed trading decisions.

 

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. You should not start investing capital that you cannot afford to lose, because you could incur a loss of part or your entire original investment.

 

 

Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker. This evaluation comprises positives, disadvantages, and an overall score based on our findings. We want to assist you in locating the ideal broker for your requirements. Our broker review should not be considered financial advice and traders are urged to seek professional financial advice before making any investment or trading decisions.

 

 

Frequently Asked Questions

 

What is Consummate Traders?

Consummate Traders is a proprietary trading company that provides retail traders with the capital they need to trade. They offer the opportunity to trade over 1,000 instruments, including stocks, crypto, and forex.

 

What does it mean to be a proprietary trading company?

A proprietary trading company is a company that invests its resources in a trader instead of using clients’ money.

This practice, also known as “Prop trading,” involves using a company’s capital to trade different markets. The trader then gets a share of their profits with the accounts​.

 

How do Consummate Traders support traders?

Consummate Traders provide larger capital to trade and maximize profit. They aim to solve the issue of insufficient capital, a widespread problem for most traders​.

 

What are the trading models offered by Consummate Traders?

Consummate Traders offer several models: Evaluation, Express-Lite, Express-Pro (Non-Consistency), and Synthetics.

Each model has objectives, profit targets, leverage, minimum trading days, scaling-up rules, and profit split percentages​.

 

What trading platforms do Consummate Traders support?

Consummate Traders provides superior trading conditions on the MetaTrader 4 and MetaTrader 5 platforms. These platforms are renowned for simplifying automated, manual, and social trading​.

 

What is the relationship between Consummate Traders and Kwakol Markets?

Consummate Traders works with Kwakol Markets, an ASIC-regulated multi-asset broker, to secure funds​.

 

What kind of education and support do Consummate Traders provide?

Consummate Traders does not provide dedicated trading education, but they partner with Dapo Willis, a Forex trader and educator, to help traders improve their skills​.

 

Who can trade with Consummate Traders?

Consummate Traders is designed for retail traders looking for capital to invest in the markets. They support various instruments and offer multiple trading models to cater to different trading styles and objectives.

9.6/10 - (5 votes)