From Forex to Prop Trading: Traders Trust Introduces TradingCult

Traders Trust, a brokerage based in Cyprus, has entered the burgeoning prop trading market, following the trend among forex and contracts for differences (CFDs) brokers. According to Finance Magnates, the retail broker has introduced its prop trading services through a new brand named TradingCult.

Information on the TradingCult website indicates that this brand is managed by Seychelles-based Cultpedia and Cyprus-based Cultedge, separate entities from those handling the FX and CFDs brokerage of Traders Trust. Interestingly, TradingCult and Traders Trust operate out of the same office in Cyprus.

Significantly, Nicola Berardi, the Chief Executive of Traders Trust, is also the founder and CEO of TradingCult. Berardi, who formerly served as Chief Financial Officer of Saxo Bank and Synthesis Bank, created the Traders Trust brand in 2009 and has been at its helm ever since. As stated on the TradingCult website, Berardi is dedicated to offering traders the necessary funding, education, and support to achieve success in the financial markets. He highlights his mission to empower traders and ensure their ability to thrive.

Prior to Traders Trust's entry into the prop trading sector, established FX and CFDs brokerage firms like OANDA, Axi, Hantec Market, and IC Markets had already begun offering prop trading services. The increasing popularity of prop trading is encouraging more brokerage firms to venture into this growing industry.

TradingCult has introduced a notably competitive offering in the market. The new prop trading platform provides traders with a 95 percent profit split. Prospective traders can choose from four different challenges, with costs ranging from $99 to $999. The lowest-tier account features a funded balance of $10,000, while the highest tier offers a balance of $200,000.

Additionally, TradingCult utilizes the brokerage services of Traders Trust to provide trading on the MetaTrader 4 platform.