Hey there, welcome to my Clover Traders Review.
If you’re into forex trading or want to give it a shot, you might be interested in what Clover Traders has to offer.
They say they’re an excellent choice for traders.
In this review, I’m going to give you all the details about this program.
I’ll talk about what the program is, how it works, and how much it costs to join and use their services.
My goal is to help you decide if Clover Traders is right for you based on what you’re looking for.
A lot of times, people miss out on being a profitable trader because they don’t really understand how things work.
So, I’ve taken the time to really look into Clover Traders.
I want to help you and others who want to know more about it.
I care about your online success, and I hope my review can give you a clear picture of what Clover Traders is all about.
So, let’s get started and find out more!
Clover Traders Review Summary
Product Name: Clover Traders
Product Type: Proprietary Firm
Evaluation Fee: Ranges between $200 and $1,500 depending on the funding program you choose.
Founders: Not explicitly disclosed (A group of young day traders, including the future founders, united their efforts and expertise)
Official Website: https://www.clovertraders.com/
Year Founded: 2020
Overall Rating: 7/10
My Recommendation: Yes, but not for everyone.
Related Prop Firm: Funding Pips
Clover Traders Review – Overview
Clover Traders platform is dedicated to helping you as a trader to achieve your financial freedom using its funding program.
This involves focusing on how they can maximize the trading potential of their customers to ensure they all succeed in their trades.
For instance, when you join the platform, you’ll get the support you need to trade in the forex market together with the required funds.
When you become really skilled and make the most out of your trades, you’ll also have the chance to increase your trading account balance and earn more significant profits.
Clover Traders have a unique pricing which is only set for the two funding programs available in the platform.
After paying the price, you will get the opportunity to choose your preferred account size which ranges from $25,000 to $200,000.
You will then begin your evaluation process which starts from phase one to qualify for the funded account.
However, when you choose the Rapid phase, you will only have a single-phase evaluation and get to a funded account.
Once you meet the requirements for a funded account, you’ll become a Clover Trader and begin trading with the company’s capital.
This makes you eligible for a payout when your account balance is positive, meaning you’re earning profits.
The weekly payouts in the program give you more access to your funds and get the best out of your trade.
In addition, you can maximize your trades using the scaling program to achieve your financial goals online.
Pros Of Clover Traders
- Offers a profit share of up to 85%.
- Has realistic profit targets.
- Excellent rating on trust pilot
- Offers a weekly payout
- Allows trading with Expert Advisors
- Do not set any time restrictions on the platform.
- Offers a scaling plan that grows your account.
- Allows copy trading
- Allows holding of trades overnight and on weekends
Cons Of Clover Traders
- Does not offer a retry
- The refund policy is conditional
- Still new in the forex market
Who Should Join Clover Traders?
Clover Traders prop firm is open to traders worldwide who are at least 18 years old and want to discover their trading abilities.
The firm’s main goal is to help traders learn about trading and how to manage risks while trading.
Clover Trading believes that their traders’ success is the most important thing to them.
They have low-profit goals for traders in the evaluation stage and offer trading conditions that are hard to find elsewhere.
So, if you really like the idea of trading in the forex market but don’t have much money, you might want to consider trying out this platform.
With their funding program, you can trade using their money and aim for success in the forex market.
Who Are The Founders/Owners Of Clover Traders?
During my research into this matter, I didn’t encounter any definitive names associated with the ownership of Clover Traders.
Nonetheless, upon visiting the About Us page on the official website of the proprietary trading firm, I stumbled upon valuable information that connects a collective of young day traders as the creators and proprietors of the company.
Although there is a featured image on the website’s left side, it’s evident that the image is intentionally obscured and captured from a distant perspective, making it impossible to positively identify any individuals.
Given that this proprietary trading firm is still in its nascent stages, I’ll promptly update any pertinent ownership details once I gather any substantial leads.
What Is Clover Traders?
Clover Traders is an exclusive company that presents traders with the chance to engage in forex market trading using the company’s own capital.
Based in Los Angeles, the company was established in 2020.
They assert that they provide traders with a streamlined and user-friendly trading encounter, accompanied by a supportive community that fosters development.
During the assessment phase of the trading journey, they offer a virtual demo account accessible online.
This demo account allows individuals to showcase their trading proficiency and expertise without the risk of real funds.
Through this process, the company establishes a profit objective that must be achieved to qualify for their provided trading account.
Furthermore, those seeking participation in their funding program are required to successfully complete a two-step evaluation phase.
Failure to pass this evaluation stage results in the ineligibility to trade using the platform’s funded account.
To accommodate a greater number of traders reaching a funded account, the company maintains a relatively low profit objective.
For a deeper comprehension, let’s delve into the operational mechanics of the proprietary firm.
How Do the Clover Traders Work?
Clover Traders works by providing you with the opportunity to trade in the forex market using their capital.
The company has a funding program that allows you to choose your preferred capital and use it to trade in the forex market.
However, before you get to their funded program, you must first get started with the entire program which is quite easy.
You simply enroll in the start challenge section found on the homepage of the company’s official website.
You will be provided with a pricing section where you will choose the program and account balance that best suits you according to your balance.
To purchase your account size, you only need to sign up for the program on the dashboard which also allows you to join their membership program.
There are up to for account sizes available for purchase in the platform which include:
- $25,000 account
- $50,000 account
- $100,000 account
- $200,000 account
Kindly visit the pricing section of this review to read more about the pricing of each of these account sizes.
Once you have successfully purchased your trading account, you’ll automatically move to phase one of your evaluation.
There are two phases in the platform including, the standard phase and the rapid phase.
Standard Phase
If you choose the standard phase, you will have to pass through a two-step evaluation for you to get to a funded account.
During the initial phase of evaluation, achieving an 8% profit target is a prerequisite before advancing to the next step.
Furthermore, adherence to all program rules and trading within specified limits is mandatory and violations are not permitted.
Rapid Phase
The rapid phase is the second option of the funding programs available in the platform which only has one step evaluation process.
In the evaluation stage, traders are required to reach a profit target of 6% to qualify for the funded account.
However, you also need to respect the other trading rules set in the program to prevent your account from being suspended.
Clover Trader Account
In the funded phase, there is no profit target set for traders in the platform.
You will only need to respect the other available rules in the program and trade at your targets to earn a profit share of up to 85%.
So, once you start generating profits with your funded account, you will qualify for a withdrawal request.
For instance, when you have an account balance of $100,000 and have a profit of $10,000 raising your total balance to $110,000, you can request for withdrawal.
In that case, you’ll be able to earn up to $8,500 of your profits and also reclaim your registration fee on your first payout.
As you continue generating more profits, you’ll qualify for a scaling plan that lets you grow your account balance to the maximum balance of $2,000,000.
Clover Funding Traders Trading Rules
The trading rules set in the Clover Traders platform depend on the funding program you choose.
Here are the funding programs available with their corresponding trading rules:
Standard Phase Trading Rules
- Profit targets
In the standard phase funding program, the profit targets are available in its two-stage evaluation.
In stage one, the profit target is set at 8% while in the second stage, the profit target is lowered to 6% which enables you to qualify for the funded account.
For the funded account, the profit target is only available for traders who want to qualify for the scaling plan which is set at 7% for two months.
- Daily loss
In both stages of the evaluation, the daily loss is set at 5% which is also extended to the funded account.
- Maximum loss
In the Standard phase, the maximum loss for both the two-step evaluation stages and the funded account is set at 10%.
- Minimum Trading Days
The minimum trading days set for the evaluation stage is 5 days for every stage of the process.
This accumulates to at least ten days for the entire evaluation stage to complete.
On the other hand, there are no minimum trading days set in the funded account after completing your evaluation stage.
Rapid phase Trading Rules
- Profit targets
In the Rapid phase funding program, the profit targets available in its single-stage evaluation are set at 10%.
This allows you to proceed to their funded account stage where there is no profit target set unless you want to claim their scaling plan.
- Daily loss
In the evaluation, the daily loss is set at 4% which is also extended to the funded account.
- Maximum loss
In the Rapid phase funding program, the maximum loss for both the evaluation stage and the funded account is set at 6%.
- Minimum Trading Days
There are no minimum trading days set in the program for both evolution and the funded account.
General Clover Traders Prop Firm Trading Rules
Here are the other trading rules that apply to both the two funding programs available on the platform.
- Scaling plan
In their scaling plan, you need to maintain an average profit of 4% for at least two months to qualify for the account increment.
In the process, you will increase your account balance to a maximum value of $2,000,000.
The traders are provided with an account increment of up to 30% of their initial account balance.
For instance, if you were trading with a $100,000 account balance, your trading account balance after scaling will be $130,000.
The company also encourages its traders to contact their support team for more information about the scaling plan.
- Trading instruments
There are a variety of trading instruments offered on the platform including the following:
- Forex Pairs
- Indices
- Commodities
- Cryptocurrencies
- Gold
- Trading Leverage
Clover Traders prop firm offers the following trading leverage for every instrument:
- Forex pairs 1:100
- Indices 1:20
- Cryptocurrencies 1:2
- Commodities 1:20
- Gold 1:20
Related Review: Bespoke Funding Program
Which Broker Does Clover Traders Use?
Clovers Traders partners with Eightcap as their trusted broker in ensuring their traders have all their funds and accounts safe while trading.
Eightcap is a regulated broker with a great reputation online that serves many traders online and is recognized as one of the top brokers in the forex industry.
What Are The Benefits Of Joining Clover Traders?
- Freedom to trade
Clover Traders prop firm allows traders to exercise more trading freedom in their platform.
For instance, traders are allowed to trade copiers, news trading, trading news, and holding trades during weekends.
In addition, the prop firm doesn’t restrict traders on the number of lot sizes.
- Offers weekly payouts
The prop firm allows you to request withdrawals every week when you start trading with their funded account.
This means that you will be able to receive your profits from the trade every seven calendar days.
This enables traders to get more access to their funds and maximize their earnings on the platform.
- Realistic Challenges
The prop firm has one of the most competitive and realistic trading challenges in the forex market.
The challenges are aimed at enabling a higher number of traders to get a funded account and start trading with real money.
For this reason, you will not have to strain a lot passing the challenges as compared to other prop firms in the forex market.
- Generous payout percentage
Clover Traders prop firm offers the best profit share in the forex market with up to 85% of your total profits.
For instance, when your total profits before making a withdrawal are $10,000, you will be able to earn up to $8,500 of the profits.
The excellent profit share enables traders to maximize their trade and get their best trading results in the forex market.
- Grow your trading account
The prop firm also allows traders to grow their trading account to a maximum balance of $2,100,000.
You only need to make your profit share range on an average of 7% every month for two months to qualify.
The increment is proof that you can handle a higher capital in the business.
What Is The Cost Of Joining The Clover Traders?
The cost of joining the Clover Traders platform depends on the Funding program you choose.
There are two funding programs available on the platform with each of them having a unique price and features.
Let me break down the prices of each funding program with the corresponding account size:
Standard Funding Program Prices
- $25,000 account costs $200
- $50,000 account costs $300
- $100,000 account costs $500
- $200,000 account costs $1,000
Rapid Funding Program Prices
- $25,000 account costs $300
- $50,000 account costs $450
- $100,000 account costs $700
- $200,000 account costs $1,500
NOTE: Upon entering the Funded Phase, the evaluation fee will be reimbursed to you.
Refund Policy Of Clover Traders
In their refund policy program, all traders in the platform are guaranteed a refund of their registration fee.
You only need to reach the funded account and start making profits with the company capital to qualify for a refund.
Upon receiving your first payout, the program allows you to reclaim all your registration fees in the program.
Clover Traders Payouts
Clover Traders Prop firm allows you to make withdrawals once you start making a profit in your funded account.
For instance, when trading with $100,000 and having made a profit of $10,000 in your funded account, you can request a withdrawal.
This enables you to earn up to 85% of your total profits on the platform and allows you to make subsequent withdrawals every week.
In addition, the platform uses the Deel platform to process your withdrawal requiring you to have an account with the platform.
You can then send your funds to your preferred bank or wallet for your consumption.
Important: Blue Guardian Capital Review
Is Clover Traders a Scam or Legit? 🕵️♀️
I believe that Clover Traders prop firm is a legitimate option for those interested in forex trading.
Their funding program offers two options that aim to provide cost-effective opportunities for success in the forex market.
These programs require you to demonstrate your trading skills and pass a verification stage to gain access to their funds.
When considering trading on this platform, you can choose between a single-stage evaluation phase and a two-step evaluation process.
Select the one that aligns best with your preferences and begin trading in the forex market.
However, before you decide to join, it’s crucial to possess the necessary trading skills and knowledge.
This is essential for successfully passing their evaluation and securing a funded account to trade with the firm’s capital.
It’s important to note that lacking trading expertise could lead to failure in the evaluation stage, preventing you from obtaining a funded account.
Moreover, not passing the evaluation phase means forfeiting your registration fee.
To avoid these setbacks, it’s recommended to thoroughly assess your skills and build confidence before considering this program as an investment opportunity.
My Assessment of Clover Traders
Profit Splits: 8/10
Clover Traders is one of the top prop firms with the best profit share offering up to 85% split.
The profit share enables traders to maximize their earnings on the trades to achieve their financial goals.
It also enables traders to rapidly grow their trading accounts and achieve maximum balances on their trades.
Scaling Opportunities: 7/10
Clover Traders prop firm has the best scaling opportunity that can increase your account size to a balance of up to $2,000,000.
The scaling plan increases your original account balance by 30% which makes it one of the best opportunities.
You only need to maintain your account with a profitability of 4% for at least two months to qualify for their scaling plan.
Profit Targets: 8/10
The profit targets set in the evaluation stages of the program are much more realistic enabling traders to get a funded account.
Unlike most prop firms in the market that charge up to 10%, Clover Traders charges as low as 8% as their profit targets.
This is reduced to up to 6% in the second phase of the evaluation which makes it one of the cheapest prop firms to pass their evaluation.
Affordability: 6/10
Clover Traders is fairly affordable as it only charges the registration fee for the funding programs.
Unlike other prop firms that charge a fee per account size, here you’ll only pay for the funding program.
This enables you to pay the same price as other traders despite choosing a larger account size in the platform.
Trader Supports: 7/10
The prop firm also offers good trader support to its customers to enable them to succeed in their trading journey.
For instance, the prop firm encourages its traders to contact the support team in case they face any issues.
In so doing, the program promises to offer traders guidance on how to trade and succeed in the forex market.
Tradable Assets: 7/10
Clover traders have a number of the most common tradable assets loved by many traders in the forex market.
The commonly traded assets include indices, cryptocurrency, forex pairs, commodities, and much more.
You can choose to trade any of these assets and get the best out of your trade using the company capital.
Trustworthiness: 7/10
Clover Traders platform is trusted by most traders online making it earn a great reputation among many people.
The prop firm also has a lot of positive reviews and excellent ratings on the trust pilot platform which makes it a first-growing company.
My overall Rating
Overall, Clover Trading prop firm garners a commendable rating of 7/10, positioning it as a rapidly expanding entity within the forex trading sector.
The firm provides a range of services that contribute to its ability to engage traders online and garner favorable reviews.
Furthermore, their affordability renders them an appealing choice for a broad customer base, particularly those interested in trading with substantial account sizes.
What Are People Saying?
Clover Traders Review Trustpilot
The Trustpilot rating for the Clover Traders platform stands at an average score of 3.6/5 stars.
Nevertheless, the platform has amassed a modest count of solely two reviews on Trustpilot.
One of these reviewers awarded the platform a five-star rating, while the other contributor assigned a three-star rating.
This dual feedback led to the platform’s overall rating settling at an average of 3.6 stars, as indicated.
Clover Traders platform has an Instagram page where they have attracted more than 11,000 followers.
On the Instagram page, the program has up to 76 posts.
Overall
In general, Clover Traders prop firm is one of the top-performing platforms in the forex market despite being new to many.
This is due to its realistic profit targets and fair charges for its funding program which enables more traders to access their account sizes.
For these reasons, Clover Traders prop firm becomes a suitable option for traders who want to trade with a larger capital at a low cost.
FAQs About Clover Traders
Is There A Free Retry On The Clover Traders Platform?
The prop firm doesn’t offer any free trial for traders at the moment on their platform.
However, if there are some positive criteria met with your account in the platform, you may get a free retry.
For this reason, the company encourages traders to first contact the customer care support team for inquiries on free retries.
Is The Evaluation Fee Of Clover Traders Prop Firm Refundable?
The evaluation fee you paid in the platform for you to access the trading challenges is fully refundable.
You only need to pass the challenges and get to the funded account where you’ll be trading with real money to qualify for the refund.
When you make your first withdrawal, you will get the refund fee in your wallet together with your profit share.
However, if you fail to reach the funded account, the registration fee is not refundable.
Do I Have To Pay For My Losses On The Clover Traders Platform?
The Clover Traders prop firm claims to be responsible for all the losses incurred in the trading market.
For this reason, you will not be responsible for any loss in your funded account and will not charge any fee for the losses.
The platform will also not charge you for losing any capital while trading in the forex market.
How Many Accounts Can I Trade On The Clover Traders Platform?
The platform allows you to purchase and trade multiple evaluations at the same time in the platform.
You are then allowed to merge all your funded accounts to a maximum balance of up to $400,000.
You can then use their scaling plan opportunity to grow your account to a maximum balance of $2,000,000.
When Does Evaluation Start After Joining The Clover Traders Prop Firm?
The evaluation in the program starts from the day you place your first trade on the platform.
This means that, after joining the program, you will have to place your first trade for your evaluation to start.
Failure to place at least one trade in a period of thirty days may lead to your account being deactivated.
How Do I Become A Funded Trader On The Clover Traders Platform?
For you to become a funded trader, you must first pass the evaluation process by achieving the required profit targets.
You must also be consistent in your trade while respecting all company’s trading rules.
For the evaluation to start, simply sign up to the prop firm, purchase your preferred account size, and place your first trade.
What Is An Evaluation?
An evaluation in the platform is a two-step challenge that requires you to trade on a demo account with virtual money.
You are provided with a limited time to reach the set profit target while trading in the two phases of the evaluation.
After completing the evaluation without violating any trading rules in the platform, you will qualify for a funded account.
Thank you for reading Clover Traders Review.