SabioTrade review: prop trading platform

This SabioTrade review is for you. There are different types of prop forms available online. These prop firms offer funds that enable traders to kick-start their trading careers, using the profit-sharing strategy. SabioTrade is one of the many prop firms that provide funded treating accounts for their traders.  Looking to register with SabioTrade?

ABOUT SABIO TRADE

SabioTrade is a prop trading platform that offers a funded trading account for professional traders. However, these traders have to pass through an assessment test. This assessment test determines their eligibility for the funding program. Account conditions are set, and to qualify for these funded accounts, you need to make at least 10% profit while maintaining the conditions set.

The trading platform offers a leverage of 30:1 and a profit share plan of up to 90%. A trader can get a funded account of up to $200,000 with just an initial payment of $50. SabioTrade does not offer third-party trading platforms this means they provide their prop trading platform.

PROS AND CONS

Listed below are some pros and cons that stood out during the Sabio Trade Review.

Pros

• It offers funded accounts of up to $ 10,000 to $200,000
• Offers a profit share plan of 70% and 90%.
• Requires only one-step challenge/assessment
• Sabio Trade Provides its prop trading platform, straight from its dashboard.

Cons

• They do not trade over the weekends

REGULATION

The prop firm is not regulated, and it’s not registered under any financial body. However, the prop firm does not require regulation because traders’ funds aren’t put at risk. As earlier stated, traders are provided with funded trading accounts that allow them to trade any financial instruments of their choice. Most prop firms aren’t registered under any financial body just like SabioTrade. Nevertheless, SabioTrade has a good reputation, and many traders have given positive reviews about the trading platform.

ACCOUNT TYPES

SabioTrade provides its clients with funded accounts after they pass the assessment test.  This means the prop firm functions as the trader’s benefactor. It provides the funds used for the trades and the profit made is split between the trader and the prop firm.

SabioTrade offers four different types of accounts. Each account has a one-off charge attached to it. These charges are paid upfront before a trader gets access to the funds, it’s referred to as application fees. Additionally, a challenge test must be passed before a trader is given access to the funds.

STANDARD ACCOUNT

This account is called the Standard or Basic account. Traders are provided with $10,000 starting capital,  with a profit share percentage of 70-30%.  This means the trader makes trades with the already provided funds, and the profit generated from the trades is shared 70-30%. The trader goes with 70% profit while the broker goes with 30% profit.  However, before these funds are released to the trader, an upfront fee of $50 is required.

PREMIUM ACCOUNT

This account is referred to as the premium account.  Traders are offered a trading capital of $50,000, with a profit share of 80 to 20%.  Similar to the standard account, the traders take 80% of profits generated from each trade, while the prop firms take 20%.  Additionally, an upfront fee of $289 is required before the fund is released to the trader’s trading account.

GOLD ACCOUNT

This account is called the Gold account, and it offers a trading capital of $100,000. However, to have access to these funds,  the trader has to pay a one-time fee of $479. The profit share percentage for this account is 80 to 20. The trader takes 80% of the profits generated while the broker takes 20%.

PLATINUM ACCOUNT

This Platinum account offers a trading account of $200,000. This is the highest trading capital account available for a trader. The account requires a one-time payment of $939. Their profit share is 90 to 10 percent. The trader takes 90 percent profit while the broker takes 10 percent profit.

DEPOSIT AND WITHDRAWALS

This is not like a contemporary broker where you have to deposit funds for trades.  With SabioTrade you only deposit funds when making the one-time payments as indicated above.

SPREADS AND COMMISSIONS

SabioTrade charges zero commissions for trades. The spreads are charged based on the type of trading portfolio. For Forex trading instruments, the spreads charged for the Major pairs begin from 0.1. For commodities, the minimum spread for Gold begins from 0.03% and 0.07% for crude oil.

TRADING PLATFORMS

SabioTrade offers its users a unique trading platform known as Quadcode.  This trading platform is accessed straight from the prop firm dashboard. The trading platform provides traders with all the trading tools required to make good trade decisions.

What SabioTrade offers

• 9 different charting systems, are displayed simultaneously.
• A variety of technical indicators, price signals, widgets, etc.
• A tradroom setup that can be personalized to fit trading style.
• Integrated and verified news alerts
• More than 250 tradable financial instruments.

However, Sabio Trade does not offer the  MT4, MT5, and CTRADER trading platforms.

TRADING INSTRUMENTS

They offer over 250 tradable assets which range from Forex, stocks, ETFs, commodities, and indices. Sabio trade offers up to 31 forex pairs, which comprise both Major and exotic pairs. They also offer a collection of 182 stocks, and for commodities, they offer the essentials such as oil and metals.

EDUCATIONAL MATERIALS

SabioTrade provides various types of educational materials to its traders. The trading platform offers its traders comprehensive trading courses taught by experienced traders. They also offer webinars and educational articles. All these materials can be easily assessed from SabioDashboard.

CUSTOMER SERVICE

SabioTrade offers a 24/7 support system. They can be contacted via live chat, email, and their social media accounts. However, they do not offer phone support, but they have a FAQ section on their website that answers most questions.

CONCLUSIONS

SabioTrade user friendly platform, creates an inventive strategy in proprietary trading. These prop firms offer not only competitive pricing but also transparent profit-sharing methods.  Thus, making them attract experienced traders. SabioTrade is well-known for providing exceptional rewarding trading experiences, and they are ranked as one of the top leading prop firms.