SabioTrade Review 2024

SabioTrade is a prop trading firm that aims to empower up-and-coming traders who have knowledge and expertise but lack the necessary funds to jumpstart their careers.

Prospective traders who prove themselves in the assessment phase get to choose between their various pricing plans and get access to a vast library of educational content.

What Is SabioTrade?

SabioTrade is a trading company that deals in funded trading, meaning they gather prospective and talented traders who know how to trade props but lack any larger funds. 

This arrangement is beneficial both for the prop trading firm and traders. Users get to trade with the firm's capital and, thus, earn a high profit they could never attain with their own capital, while the trading company gets to employ a talented funded trader who brings them profit.

How Does SabioTrade Work?

Before getting a funded one, you will first gain access to a SabioTrade assessment account and will have to go through a testing phase to prove you have the necessary skills to become a fully-fledged member.

Within minutes of applying, you will receive credentials for SabioTraderoom and SabioDashboard.

SabioTraderoom lets you place deals, apply trading strategies, access over 100 built-in indicators, widgets, and alerts, and check your trading history. 

SabioDashboard is updated every 60 seconds and contains information on the assessment progress, access to future payouts, the trading platform, and links to educational material.

Once users pass the assessment and provide the company with KYC documents, they are given access to a funded account within 24-48 hours. 

Note that SabioTrade doesn't charge any commissions, trading during the News is allowed, and trading hours are defined by the QuadCode trading platform. 

SabioTrade Pricing Plans

SabioTrade offers four trading plans that only differ by profit payout, account balance, and one-time fee. All three plans offer a leverage of up to 30:1 for trading forex and 100:1 for trading indices, a profit target of 10%, daily loss limit of 3%, and max trailing drawdown of 6%.

1. Standard - Traders can expect a profit payout of 70%, an account balance of $10,000, and a $99 one-time fee.
2. Premium - The most popular trading program yields a profit payout of 80%, an account balance of $50,000, and a $289 one-time fee.
3. Gold - This plan also comes with a 80% profit split, but doubles the account balance to $100,000, all for a $479 fee.
4. Platinum - Dealers who wish to test their skills on the highest plan can expect a profit payout of 90%, an account balance of $200,000, and a $939 one-time fee.

Regardless of the trading plan you choose, you will also have access to live weekly webinars, exclusive video training by topic, and educational courses by veterans who will teach you the basics of trading.

SabioTrade Free Trial

Up-and-coming traders who want to enter the trading world have the opportunity to try the platform out before signing up for a plan. SabioTrade offers a 7-day free trial with all features included. 

Users that opt-in can receive a $10,000 starting balance as well as try their skills out under the same conditions as subscribers.

Additional Rules

There are 4 main rules subscribers have to keep in mind when trading with SabioTrade:

1. 3% daily loss limit rule - SabioTrade calculates the daily loss based on the previous day's end-of-day balance. The trading stops at 5 PM, and breaking this rule constitutes a hard breach of the company's policy.
2. 6% Maximum Trailing Drawdown rule - This rule also constitutes a hard breach and is based on 6% of your starting balance. The max trailing drawdown percentage trails traders' closed trading balance until they make a profit of 6%. After that, max trailing locks in at their starting balance and no longer trails their account. 
3. Flatten on Fridays rule - All positions have to be closed by Friday at 3:45 PM EST. SabioTrade doesn't allow holding positions over the weekend, although they do allow holding positions over several working days. Breaking this rule will constitute a soft breach. 
4. Must place a trade every 30 days rule - Another rule that constitutes a hard breach states that users have to place at least one trade every 30 days. Otherwise, their account will be deleted.

If you commit a soft breach, SabioTrade will close your trade, while you can continue other trades. A hard breach, on the other hand, will result in account deletion. Note that, if you commit a hard breach, you will still have access to profits you acquired before the breach took place.

Payment Methods and Withdrawals

Currently, at the time of writing of this review, traders can only withdraw funds from their bank account.

Once the withdrawal request is placed, SabioTrade will freeze your live account until funds are transferred in as little as 24 hours.

Be aware that, once you request a withdrawal, SabioTrade will set your maximum trailing drawdown at your starting balance.

Security and Privacy 

SabioTrade employs industry-standard encryption to safeguard personal data. The only data they collect are your name, date of birth, email address, phone number, mailing address, and a username and password for your account.

SabioTrade Customer Support and Reviews

SabioTrade currently holds a 4.2 approval rating on Trustpilot. Users praise their trading flexibility, affordability, the size of funds available, and the speed of the assessment process.

As for customer support, members and interested parties can reach them via email at [email protected], as well as via their Discord and Instagram communities and directly in the traderoom via live chat.

Bottom Line

When compared to other proprietary trading firms, it's immediately noticeable that SabioTrade has a lower level of overall funds that are available to prospective traders. 

Furthermore, holding positions during the weekend isn't allowed.

On the other hand, SabioTrade offers a sleek and fast trading platform powered by QuadCode, trading during the news, and a vast and rich library of educational material making it a great starting point for a prospective trader.