It is important to take note of trade the pool supported and restricted countries, especially for traders looking to join the prop firm. The 5ers launched Trade The Pool, a stock trading prop firm, in September 2022. Gil Ben Hur, the founder of The 5ers, set it apart by letting traders trade more than 12,000 stocks, including penny stocks, and by not having a PDT (Pattern Day Trader) rule, which permits unfettered day trading. This article examines Trade The Pool supported and restricted countries, providing information on trading instruments, platform details, and other crucial details for potential traders.
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An Overview Of The Trade Pool
Trade The Pool gives traders the opportunity to manage accounts up to $260,000. It is registered in GB and is legally known as Five Percent Online LTD. Traders must successfully pass a one-phase challenge program to gain access to a funded account. The firm is based in Israel, with a UK address in London. Michael Katz is the CEO of trade the pool.Ā
Characteristics Of Trade The Pool
- Instruments: Trade The Pool provides an access to trade over 12,000 stocks, including ETFs and penny stocks from the US Stock Market.
- Trading Platform: MatchTrader platform trading is supported by trade the pool.
- Challenge Types: Trade The Pool offers Day Trading and Swing challenges.
- Payout: With a minimum withdrawal limit of $300, withdrawals are facilitated through Wire Transfer/Bank Transfer and Crypto. Payout methods also include Riseworks for Bank Transfers and Crypto.
- Commissions: Trading commissions are charged at $0.75 or 1/2 cent per share, set by the liquidity providers.
Trade The Pool Supported Countries
Trade The Pool supported countries includes a variety of nations. Registration is possible from various countries. The following are Trade the pool supported countries:
- Australia
- Canada
- Ghana
- Hong Kong
- India
- Ireland
- Kenya
- New Zealand
- Nigeria
- Pakistan
- Philippines
- Singapore
- South Africa
- United Kingdom
- United States
Trade The Pool Restricted Countries
Note that Trade The Pool restricts traders from specific countries from using its services. Trade the pool restricted countries includes:
- Afghanistan
- Burundi
- Central African Republic
- Congo
- Congo (DR)
- Cuba
- Eritrea
- Guinea
- Guinea-Bissau
- Iran
- Iraq
- North Korea
- Laos
- Liberia
- Libya
- Myanmar
- Papua New Guinea
- Samoa
- Sudan
- Syria
- Vanuatu
- Venezuela
- Yemen
- Zimbabwe
- South Sudan
Trade the pool restrictions are due to laws and regulations.
Challenge Details
Trade The Pool offers two types of challenge accounts, which are; Day Trading and Swing.
Day Trading Challenge Prices:
- $20,000: $97
- $80,000: $300
- $160,000: $497
Trading Conditions
Trade The Pool provides a live data feed from NASDAQ, NYSE, and CBOE. This ensures traders have accurate bid and ask prices.
Other Important Rules:
- Daily Drawdown: The Daily Drawdown is set to a limit. Traders are not allowed to exceed that limit in a day.
Prohibited Strategies
Trade The Pool prohibits a few trading strategies; they include
- Arbitrage Trading and
- High-Frequency Trading
Company Information
- Legal Name: Five Percent Online LTD
- CEO: Michael Katz
- Headquarters Address: 14 Haroshet st, Raanaa, Israel
- UK Address: Enstar House, 168, Praed Street, London, United Kingdom, W2 1RH
Payment Types
Trade The Pool accepts various forms of payments via Credit/Debit Card, Crypto, and PayPal. They also accept Deel Card.
Conclusion
Trade The Pool offers a unique opportunity for stock traders worldwide, with access to over 12,000 stocks and no PDT rule. While the platform supports traders from many countries, certain regions are restricted due to regulatory and legal constraints. Trade The Pool provides traders with a live data feed, a range of stocks, and a one-phase challenge program. For traders in eligible countries, Trade The Pool provides a platform to showcase their skills in stock trading.
Frequently Asked Questions
Why Does Trade The Pool Restrict Certain Countries?
- Restrictions are primarily due to regulatory compliance issues and legal standards that prevent foreign financial services firms from operating within certain jurisdictions.
How Can I Verify If My Country Is Supported By Trade The Pool?
- You can check your eligibility by visiting Trade the pool official website or reviewing their terms of service for the most current list of supported and restricted countries.
What Should I Do If My Country Is Restricted?
- If your country is on the restricted list, consider exploring other proprietary trading firms that may offer similar opportunities without geographical limitations.
