If you’re interested in Leeloo’s Performance Paid Trading Program, you might have some burning questions before you join us!
Read on to see our answers and how we can help you easily get a Paid-Performance Trading Account with Leeloo Trading. This nicely put together with the help of Darrell Martin of Apex.
I’d like to join Leeloo
Do I have to complete the test in a certain amount of days?
Beyond the two-week express program, in all other programs you have a MINIMUM of 10 trading days. However, you can take as long as you want to complete the test for the profit goal.
What about that two-week (14-day) express program they offer for $74?
We do not recommend this program as it is very difficult to achieve. With it, you have only 14 calendar days (10 trading days) to hit the profit goal. If you don’t hit it, you fail the exam. The other programs are a minimum of 10 days with no maximum.
Can I do this without being registered as a CTA? (Commodity Trading Advisor)
There are no registrations required for trading the funded account.
Does the company dictate how many contracts I can trade during the test phase?
Each plan has a maximum number of contracts. However, we recommend no more than ONE contract per $1,200 of max stop loss. So, if you can lose up to $2,500 on a plan, then we teach you to trade a maximum of TWO contracts, even though the company may allow eight.
Can I take the test trading in SIM or do I have to trade with live money?
It is done in SIM with a specific SIM account they give you. You will login with the Rithmic username and password, which will provide you with data, a key and an account you can select for trading
During this test period, can I trade that and my live account at the same time?
Yes, you can trade your live and test accounts at the same time. In order to trade both accounts simultaneously, you may need to upgrade to a multi-broker license if you’re trading your live account on NinjaTrader.
Do you do this? If so, how long have you done it?
I have tested every company out there over the past eight months and reviewed their policies. I signed up for many of them and narrowed it down to this specific company. I have done this and passed the exams for the 50k and the 300k accounts.
Can I try again if I fail?
Yes, you can. There is a reset fee of $75 if you fail the exam. This is much cheaper than losing the money in your live account. It resets five minutes after you pay the fee.
How many days am I required to trade after I get funded?
There is no required number of trading days after you get funded. Trade as little or often as you want.
Would it be too hard to trade more than one account?
It can be challenging for sure! There is a group feature in NinjaTrader to assist you. This feature is only available in NinjaTrader 7.
So, the only money I can lose is the money I made?
Once you are funded and you are profitable, then of course you could lose the profits you made. But if you blow the account before you are funded, you do not lose or have to pay for it. You would just have to restart the exam again. Obviously, the ideal is to be profitable, so you can make withdrawals.
Would you wait until the markets normalize?
I have been trading in the market. I’ve also noticed, along with many of our traders, there are plenty of markets to choose from that are more calm.
What instruments can be traded?
- CBOT, CME, COMEX, NYMEX
- Equity Futures
- E-mini S&P 500 (ES)
- Nikkei NKD (NKD)
- E-mini NASDAQ 100 (NQ)
- Mini-DOW (YM)
- E-mini Midcap 400 (EMD)
- Russel 2000 (RTY)
- Interest Rate Futures
- Eurodollar (GE)
- 2-Year Note (ZT)
- 5-Year Note (ZF)
- 10-Year Note (ZN)
- 30-Year Bond (ZB)
- Ultra-Bond (UB)
- Currency Futures
- Australian Dollar (6A)
- British Pound (6B)
- Canadian Dollar (6C)
- Euro FX (6E)
- Japanese Yen (6J)
- Swiss Franc (6S)
- New Zealand Dollar (6N)
- Agricultural Futures
- Lean Hogs (HE)
- Live Cattle (LE)
- Feeder Cattle (GF)
- Corn (ZC)
- Wheat (ZW)
- Soybeans (ZS)
- Soybean Meal (ZM)
- Soybean Oil (ZL)
- Energy Futures
- Crude Oil (CL)
- E-mini Crude Oil (QM)
- Natural Gas (NG)
- E-mini Natural Gas (QG)
- Heating Oil (HO)
- New York Harbor (RB)
- Metal Futures
- Gold (GC)
- miNY Silver (QI)
- miNY Gold (QO)
- Micro Futures
- Micro E-Mini S&P 500 (MES)
- Micro E-Mini Dow Jones (MYM)
- Micro E-Mini Nasdaq-100 (MNQ)
- Micro E-Mini Russel 2000 (M2K)
- E-Micro Gold (MGC)
- E-Micro AUD/USD (M6A)
- E-Micro EUR/USD (M6E)
- E-Micro USD/JPY (M6J)
- EUREX – added subscription
Can I withdraw from my account at any time?
You are allowed to withdraw one time per month.
Can I still use the Trade Automation with this?
How much is the initial fee?
Depends on the plan.
Does the trading balance ever grow if I withdraw profits?
If you withdrew all your profits, then it would not grow! This is just the same as a live account.
Why would I want to go for an account smaller than the largest plan?
You may not want to pay the larger fee for the test and you may not be able to psychologically handle the larger drawdowns that go with a larger account.
Are the earnings deemed as 1099s for taxes, or a K-1 or a W-2?
1099 Self Employed Income
Withdrawal is once a month, are there any limits?
On the accelerator plan, which has a smaller contract and drawdown, there are no limits. The first four months have limits on the investor and then no limits.
Do I use the 6-3 risk management strategy for this?
Can I upgrade from a smaller to a larger account?
They will increase your contracts as you make profit but remember, you start with way more than needed.
So, only 10 days to pass?
Yes, you can pass it in as few as 10 days.
What package do I have to start with?
You can start with any package you want.
Do I start with one contract?
Depends on the plan. We recommend one contract per $1,200 drawdown available.
Is the trailing drawdown on the account balance throughout the day or at the end of the day?
Live throughout the day.
Does the account balance include open trades or just closed trades?
Open and closed trades are included in your account balance.
Do you have to be a Super Trader to do this?
Not by any means, just disciplined.
Let’s say I’m live and I make the company money. I get my account to 60K, but then, I have a bad day and lose $2,500. Do they boot me off?
No, as the trail stops at $50,100 and does not keep trailing on the 50K account.
How many contracts can I trade with the 50K account?
Up to eight, but we recommend to not do more than two.
So the $3,000 goal is net of commissions (after all-in costs)?
Yes, for the 50K plan.
Is there an inactivity fee?
You have the monthly fee whether you are active or not.
If I lose $2,500 right off the bat, do I owe it?
No, just restart.
Can I trade micros during test phase?
If you want to!
Suppose on a live 50K funded account, I made 10K profit, would I keep 80% after the profit goal was reached?
You would get the first $8,000 then $80% of the other $2,000 you make.
What is this company again?
Click the link above.
So, do I trail after I double?
After you double the initial profit goal in the funded account, if you know how to trail, then you can. Not recommended before then!
How many times can I reset?
As many times as you want.
How much does it cost to get started?
What are their rules?
Make profit. Don’t hit max loss. Don’t hold past close.
Who is getting the margin call if it comes to that?
Not you! You receive no margin calls.
Once I start the trial, do I get penalized if I don't start trading immediately?
If I’m not trading my live account with Ninja brokerage, do I still need a multi-broker licence?
How many profitable weeks should I have before I’m ready to test?
Start now as there is no max number of days to pass the exam.
After failing the fund account, do I keep the NinjaTrader license or give it back?
You would need to restart an evaluation account and they will give you a key. The key is not a lifetime key. It goes with the account.
So, the company only takes commissions when I withdraw?
They pay you the first $8,000, then you get 80% when you withdraw during the first year. (That’s when they take their 20%.) Then, during the second year, you get 90% when you withdraw. (That’s when they get their 10%.)
Do I need a Ninja license for the ATM?
They give you one.
As my account grows, can I trade more contracts?
Can I set up an LLC and trade for them out of that?
You can provide whatever name and ID number you want for payment. This can include an LLC.
How do other prop firms (proprietary trading firms) compete with this?
Other companies (prop firms) differ in the following ways:
- They require longer testing requirements and even multiple tests. This one doesn’t.
- They have a lot of unnecessary rules to trip you up. This one doesn’t.
- They make you pay for a Ninja license. This one doesn’t.
- They make you pay Professional Data Fees. This one doesn’t.
- They cost more. This one costs less.
- They don’t pay out as much. This one pays out more, in most cases.
- They don’t reduce it to 90% payout for the second year. This one does.
- They take 2-3 weeks to fund you, versus 1-3 days like this one.
What’s the catch?
- You have to pass the exam, hitting the profit without hitting the drawdown
- When funded, you keep the first $8,000 in profits
- In the first year after the first $8,000, they keep 20% and you keep 80% of profits
- In the second year after funding, they keep 10% and you keep 90% of profits
So instead of risking your capital, you’re allowing them a percentage of profits so you don’t have to worry about crashes, flash crashes, losing all your savings and trading stupid among other things.
Does their license include NinjaTrader ATM?
Yes. This is a full Ninja license for ATMs and Chart Trader.
Can overseas traders do this?
Do I basically trade what I am trading now?
Yes, you trade how you are trading now.
Which trading platform I will use? NinjaTrader or Rithmic?
You can use whichever platform you want, that they work with: NinjaTrader 7, NinjaTrader 8, Sierra, Multi Charts, Motive Wave, ATAS and Rithmic Trader.
Is it correct that I can trade two accounts (personal and the prop account) at the same time, where the accounts simultaneously take the same entries and exits?
Yes, if using NinjaTrader 7, you can use the group account feature to do this.
Do I have to use my own NinjaTrader license key?
You can, but you don’t have to use your own. They provide you with a key.
How much are the monthly fees and the costs to get started?
Please see the website link above for fee information.
Is this available in Canada, South Africa, the UK, Europe, South America, Asia, etc?
Yes, this is available in almost every country in the world.
Do I pay for an APEX license or do they pay?
They are completely separate from Apex. They don’t pay for your Apex membership. Just like the Trade Assistant is separate from them and they don’t pay for that either.
Is there a reason they can give me an unlimited DOM, but it’s not available elsewhere?
I’m sure it’s available in other places for a fee, but this is included with their program.
Can this be done if I use Interactive Brokers?
This has nothing to do with your broker as it is funded through the funding company. So, the answer is YES! If you have an account with Interactive Brokers or any other broker, you can do this because it has no bearing on it.
Do I call them or NinjaTrader if I need to flatten because of technical issues?
Do I have to go through Apex boot camp to do this?
No, but if you want a chance of passing, you should.
Who administers the account?
The account is administered by the funding company.
Do I need a multi-broker NinjaTrader license to do this?
Since I have a multi-broker NinjaTrader license, I have not tested it otherwise. If you’re trading a live and a funded account on the same computer at the same time, you may need a multi-broker license.
How will the indicators work if I use my own account under my key and then also have one account under the key they give me?
Indicators are not impacted by your platform key. They are locked to your machine ID, which is separate.
So, there are no other requirements to get funded except passing the test?
Correct. No credit checks, background checks or asset requirements, etc.
So, I’m still following the 6-3 plan with the exception of starting with 2 contracts?
Will I still be responsible for data feeds?
It’s included in your fee.
What would happen if the company vanishes one day?
The same thing would happen if your broker vanishes; the Government would disburse funds. They are well backed and approved by NinjaTrader with funds in segregated accounts. This is why you take out profits regardless of whether you’re with this company, or a brokerage with a normal account. However, we doubt this will happen.
Do I have to trade every day during my test period?
No, unless you choose the $74 plan. All the other plans allow you to trade whenever you want.
If I lost the first three trades, could I then reset my SIM and start over again, get my three and take a screenshot of account balance?
This is not necessary, it would be useless and get you nowhere.
What are the monthly fees after getting funded?
$83 to cover all fees: wire withdrawal, data, platform fee, etc.
If I want to go up to a higher level later, do I have to retest?
No, just make more profit and make a request. Remember, you start with more contracts than you need, so just focus on growing the account. Once you reach the full contracts with a lot of profit, they will evaluate whether you have been consistent and profitable. If so, they will expand your contracts.
Is there a limit on how much profit I can make in a day? For example, is it ok if I hit my profit goal in a few days and the rest of the days I’m only making $10 profit a day?
Yes, that’s fine; there’s no limit to your daily profit.
Is the data feed through Rithmic Trading?
If there’s a 10-day minimum for the profit target, what is the maximum?
There is no maximum.
Are there any other fees besides the monthly fees?
There is a reset fee if you fail the test.
Do you recommend that I get good in SIM before starting the trial?
This is SIM, so start as soon as you can. Make it real and you will learn faster. Share your charts.
Can I have CQG and Rithmic connected simultaneously and as backup?
Do I have to use NT8 or will NT7 still work?
You can use NinjaTrader 7, 8, Sierra Charts, Multi Charts, Motive Wave, ATAS, and Rithmic Trader.
Once funded, could I terminate my current NT account?
Yes, you could use just the key they give you if you want.
What happens if NinjaTrader crashes and it causes a large drawdown?
The drawdown happens the same as it does in your live account. However, this time, you didn’t lose your money.
How much paperwork do I have to fill out?
For the evaluation, an onsite form takes 30 seconds. To get funded, there’s a two-page questionnaire and a simple short funding contract. This allows you to be funded. It took me less than five minutes to complete.
Can I quit whenever I want?
Could I have this on one computer while my current NinjaTrader would be on a different computer, simultaneously?
Will there be any kind of training for the process?
Yes. We are doing training, but there is not much needed. You just click and sign up. Then, follow the instructions in the email they send you and trade off NinjaTrader.
Is there any kind of non-compete or anything like that for me to sign?
No. There is no non-compete for the funded account.
I’m just learning how to use Apex. Do I need to feel competent before I try this?
This is a great way to start putting what you are learning at Apex into practice by making it real – without taking all the risk. Start ASAP.
Is there any value in mentioning I am part of Apex, a professional trading/coaching organization?
Use the link we give you and the discount coupon. They will know you came from Apex. The biggest advantage is being able to use the discount coupon.
Can I sign up today and start 10 days later?
We hope we’ve managed to answer all your questions, we can’t wait to have you on board our funded trading program!
I’d like to join Leeloo