The prop firm space for forex traders is getting a lot more competitive as many new firms are coming into the industry, trying to compete with each other. The by-product of this new explosion in prop firms is traders are getting easier challenges, more capital, better profit splits and prop firms dedicated to various styles of trading!
In this article we are going to be looking at DT4X, a prop firm based in the U.K and offering instant funding of up to $50,000 and scaling all the way through to $1.24 million. This firm has a lot of pros and cons, so let’s go into more detail and see if this is the prop company for you…
Who Are DT4X?
DT4X are a relatively new prop firm based in Scotland, U.K offering traders instant capital funding of up to $50,000. They are offering a profit split of 60%, a range of top forex brokers to choose from and an aggressive capital scaling program which can have you trading over a million dollars relatively quickly.
From DT4X’s website we can see that the company is owned by GreatGadgetz LTD. As this is a U.K company we are able to see on Companies House records who owns the company and various people involved with the running of the prop firm.
The company was founded in 2018 by Mark Docherty and has substantially grown since then, with over 60 reviews now from traders all over the world, which we will review in detail further into this article.
Along with the instant capital, DT4X also offers education for its traders, making it potentially a very good prop firm to be trading with. Let’s find out if it’s the company for you…
Payment Proof – Withdrawal From DT4X
If you’re like me, you like to see withdrawals from other traders so you know a prop firm is actually legit and will pay you. I spoke to DT4X about getting my payout and within a few days it had arrived. The process was extremely simple, I just had to create them an invoice, with a template they sent over, then it was within my bank the next day. DT4X Trader is the trading name of Greatgadgetz, hence why the payment came through from the Greatgadgetz account.
Getting Funding From DT4X
This firm offers capital to forex traders ranging from $10,000 to $50,000. The price for these accounts is a one time fee, ranging from $275 for the $10,000 account, all the way to $575 for the $50,000 account, which is very competitive. The leverage offered is 1:10 initially which isn’t great, but once you have gained 10% profit on your accounts you are allowed to change this to 1:50 by contacting the support team for help.
The profit share is a very respectable 60%, with a maximum loss of 5%, a profit target of 5% and a target growing of 10% for account scaling (If you hit 10% gain, your account will be doubled for free). All forex majors, minors, and commodities are allowed to be traded, which is great for retail traders!
DT4FX allow traders to trade on the MT4 and MT5 platforms, with overnight trading allowed but weekend holding is currently banned and you could be penalised for holding over the weekend, so make sure you’re flat by market close. If you’re someone that needs to be swing trading or holding longer weekend positions, Lux Trading Firm or FTMO Swing Challenge might be the best options for you.
What Makes DT4X Different From Other Prop Firms?
DT4X is different from most of the industry leading prop firms due to the instant funding element that serves as a very attractive feature for most retail traders.
When signing up with a company like FTMO for example, they have you on live accounts, instead of demo accounts. This means that they require you to prove your profitability over 2 challenges, which will take about 40 days and you will be funded after passing the challenges (if you pass).
However, DT4X offer instant funding! They have you on a Demo account initially to reduce their exposure and risk, whilst still paying you 60% of the profits you earn. This is absolutely great for us, as traders, as we are able to start earning ourselves money immediately with our newly funded accounts.
They allow a larger choice of brokers than most firms do as well. The brokers currently offered are Hugosway, Global Prime, RoboForex, Tickmill, FXOpen and FXChoice. Although the choice of brokers is great, they are all unregulated brokers and do not have the best costs out there compared to some of the other leading brokers, like IC Markets.
In short, getting funding from DT4X is much faster than with a lot of other companies. Instead of waiting around for multiple profitability challenges, you can just get funded straight away!
Is Getting DT4X Funding Realistic?
When looking at prop firms and taking on capital for your forex trading, it’s extremely important to look at how realistic the trading requirements actually are. For instance, a company offering a 90% profit split on a £1,000,000 account sounds amazing but if they expect a 10% gain per month with 1% maximum drawdown, your chances of success aren’t great!
With that being said, DT4X is one of the easiest prop firms to get funded with! This is due to the fact you don’t have to pass any verification or challenges like you would do with other firms such as Fidelcrest or 5%ers. In fact, it seems that U.K prop firms are offering instant funding now as both DT4X and CTI both offer this!
The rules are also very relaxed and very industry standard, with a profit target of 5%, a maximum drawdown of 5% and an account growth of 10% needed to double your account. Overnight holding of positions is allowed, which is great for Day Traders and weekend holding is now allowed, which makes it much easier for longer term position traders to get funded and grow their capital.
DT4X Scaling Plan – Trade More Capital
DT4X offer a great capital scaling program for traders, allowing you to start trading a huge amount of capital by achieving consistent small returns for the company. As can be seen in detail on the FAQ section, they offer various different ‘FUND MANAGER’ levels, progressing onto the full $1,240,000 of funding. At this point, traders are offered a fixed $5000 monthly salary for their trading!
For every 10% of gain you achieve, your account will be doubled, regardless of whether you withdraw your profit share or not. This means that in theory, to grow from the $50,000 account to the full $1,240,000, you would need to grow only 60% on your account!
This is one of the best and fastest scaling programs I have seen in the industry, so it’s definitely worth considering if you’re looking to scale the funds at your disposal over the coming months. When comparing to some of the other prop firms like FTMO, it becomes clear how ‘industry leading’ this scaling plan really is!
DT4X Reviews – What Are Traders Saying?
One of the best ways to review prop firms and brokers is to look at what other traders have been saying on reputable forums. There have been many cases over the years where I have had a perfectly good experience with a broker, been paid out on time etc, then seen in forums that I was ‘one of the lucky one’, so we want to avoid this happening.
DT4X have an Excellent rating on Trustpilot with over 108 reviews and an average score of 4.6/5. This is a really good sign as it’s obvious that a lot of the traders are having a good experience with the company and only 3% of reviews are bad.
In these reviews we can see the traders using the service are absolutely happy with the customer service, the experience and Elizabeth has even had profit splits coming through, which is great to see.
Over the last few months, the Trustpilot reviews have grown massively in size and stayed in a really positive light, which is great! Traders are, as a whole, extremely happy with the firm and the funding being offered. It’s great to see that even with a massive increase in reviews (nearly 100% more in the last few weeks), traders are still finding the quality and value from the firm!
Education & Support For Traders
When it comes to prop firms, it’s extremely important to know that you’re supported. Traders need to have a good relationship with their trading firm, after all, there’s a lot of money in the balance! Support comes down to a few different factors, whether that is actual customer support support, or educational support to help with the growth of their traders.
DT4X offers premium educational content to traders, with over 30 videos covering everything from technical to fundamental analysis. If you’re trading with a prop firm I’d hope that you already knew the basics of chart work, but it’s still great to see that the company actually cares about their traders succeeding.
Another way that DT4X is supporting it’s traders is through the back end. Traders are able to see all of their trading stats broken down into actionable metrics including profit, drawdown, pairs, number of trades and many more. This works much like MyFxBook does and it’s great to see this included in the account area, as it’s important for funded traders to know exactly where their results are! It’s actually fairly advanced, but you can also link your funded account to any of the industry leading journalling tools for more in depth stats.
The tools being offered are extremely handy for traders and I would recommend that most forex traders should be using similar tools! Firstly, an economic calendar to either capitalise on, or avoid high impact news releases. I usually get this data from Forex Factory, but having two sources is always better than one. The position size calculator is used to ensure you’re trading the correct lot size for the stop loss, risk size and currency pair. Again, I usually use this calculator from Babypips, but it’s great to have one handy in your back end! Commitment of Traders is also a really handy tool to have, allowing you to view the market as a whole and see what the institutional traders are looking at. Transparent Fx uses CoT in his trading, and it seems to work great!
Conclusion – Is DT4X A Scam?
In summary, DT4X is not a scam, it’s an established prop firm offering instant funding for traders all around the world! With a great scaling plan, funding from $10,000 to $1,24M, a 60% profit share, monthly payments and relaxed trading rules, it’s a great firm for new traders seeking investors capital for their trading!
If you are reaching consistency in your trading or have been consistent for a while and looking to scale up your capital, I couldn’t recommend DT4X enough! Whilst they’re still a relatively new firm, they’re offering great conditions and perks, making them one of my top choices for prop companies.
I have had multiple withdrawals from DT4X and they’ve always been processed on time, the majority of which arrive on the 26th of each month.
If you have any experience trading or receiving funding from this company please let me know in the comments below with your experience!