My people truly suffer for lack of knowledge.
I legit don’t understand why anyone is purchasing Naira prop accounts when you look at the stupid price-to-value ratio. Whether it's the illusion of seeing converted Naira figures or a total lack of basic math, the mass market is getting played.
Let’s look at the actual calculation,because when you run the numbers on actual risk capital, it’s straight up wicked.
Say you spend ₦9,000 to buy a ₦200,000 challenge account with a 20% max drawdown, for ease of calculation we would leave it as a balanced based drawdown when it’s even trailing drawdown most times which is worst , and a 10% target per phase.
Traders see "₦200k" and feel big, but let’s be real about what you actually bought:
• Your actual max drawdown (the money you’re permitted to lose) is only ₦40,000.
• To hit a 10% phase target (₦20,000), you have to pull off a 50% gain on your actual ₦40,000 risk allowance.
Now, compare someone who buys this ₦200k challenge vs. someone who puts that ₦9,000 directly into a live broker account, making the exact same 50% relative gain at every step:
1️⃣ Phase 1 (50% gain on risk capital):
• Prop Trader: Passes Phase 1 (Payout: ₦0)
• Live Broker Trader: ₦9,000 + 50% = ₦13,500
2️⃣ Phase 2 (50% gain on risk capital):
• Prop Trader: Passes Phase 2 & gets funded (Payout: ₦0)
• Live Broker Trader: ₦13,500 + 50% = ₦20,250
3️⃣ First Payout (50% gain on risk capital = ₦20k profit):
• Prop Trader: Makes ₦20,000. After an 80% split, they take home ₦16,000.
• Live Broker Trader: ₦20,250 + 50% = ₦30,375
Read those final numbers again.
The prop trader jumped through 3 phases of rules, minimum trading days, and trailing drawdown traps just to walk away with ₦16,000.
Meanwhile, the guy who funded his own ₦9,000 account has ₦30,375 cold, hard cash,with zero payout delays, zero drawdown rules, and 100% control to withdraw whenever he wants.
You are literally paying ₦9k to earn almost HALF of what you would have made trading your own money.
It’s mind-blowing how scammy the math adds up. Na we really dey do ourselves for this country.
Whereas with just 11 dollars you can get a 2 step $5000 account, let’s say that you like seeing the values in naira , that’s literally a 6,900,000 naira account.
You can get your Propfirm accounts at prices like this with EquityEdge , use my code ELVIS50 for the discount effect and get direct access to me for any inquiries or questions about EquityEdge or Trading as a whole.
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If what I am saying is wrong, my replies are open, come defend the math. 🗣️
Good morning and Happy Sunday
As someone who started my profitable trading journey as a university student trying to make ends meet, I know what it’s like to have to start small.
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