Becoming An Institute Trader
1. Are there any restrictions on becoming an Institute Trader and opening my trading account with the Institute?
There is only one major restriction in becoming an Institute Trader. You must first complete either the Institutes Professional Trading Masterclass (PTM) Video Series and / or the Professional FOREX Trading Masterclass (PFTM) Video Series and pass at least one of the examinations; –
More information can be found here; – https://www.itpm.com/education/
No individual can become an Institute Trader unless they have completed either the Institutes Professional Trading Masterclass (PTM) Video Series and / or the Professional FOREX Trading Masterclass (PFTM) Video Series and passed at least one of the examinations; –
This ensures that the Institute maintains a profitable community of Retail Traders Vs. the average situation globally in which the vast majority of Retail Traders lose money. When you become an Institute Trader you become part of the Institute Community. When joining the Institute Community we must guarantee a minimum level of educational ability in the Community. The PTM and PFTM Video Series’ are the Institutes flagship educational courses and provide the Institute with a control mechanism / qualification process that ensures the educational level of ability of the Community and therefore guarantees a minimum level of Trading and Portfolio Management intelligence within the Community.
By setting the bar high we guarantee a high level of intelligence in the community thus ensuring better success rates in terms of profitability within the Community. Additionally a healthy Community is one in which everybody contributes and adds value to the Community. The Institute Community is not a drop in centre for the homeless Retail Trader looking to rely on and leech off profitable trader’s ideas and who never contribute. The Institute is a Community of well-educated, highly informed Retail Traders that are independent of each other and who all contribute to the Community and add value to the community.
If you have not taken either the Professional Trading Masterclass (PTM) Video Series or the Professional FOREX Trading Masterclass (PFTM) Video Series and you apply to become an Institute Trader, unfortunately you will be wasting your time. With every application, we check in our database whether you have purchased either or both Video Series and also check if you have taken and passed your exam(s). If you have purchased the Professional Trading Masterclass (PTM) Video Series and / or the Professional FOREX Trading Masterclass (PFTM) Video Series but not completed the course by taking your exam, we will simply ask you to re-apply when you have completed your exam.
2. What is the definition of an Institute Trader?
An Institute Trader is an individual that has taken the Professional Trading Masterclass (PTM) Video Series and / or the Professional FOREX Trading Masterclass (PFTM) Video Series, passed their exam and has opened and funded their Institute Trading Account.
Once you have taken either the Professional Trading Masterclass (PTM) Video Series and / or the Professional FOREX Trading Masterclass (PTM) Video Series, you will then be officially allowed to apply to become an Institute Trader. Both the PTM and / or the PFTM Video Series on a standalone basis are the pre-requisite Online Educational Courses at the Institute for becoming an Institute Trader. If you want to become an Institute Trader you must complete either the PTM and / or the PFTM Video Series and pass your exam in at least one of these courses as the bare minimum.
You can complete both the PTM & PFTM Video Series at the same time if you wish. Or you can do the PTM first and PFTM afterwards or the PFTM first or PTM afterwards. There is no restriction.
When you have passed your PTM and / or PFTM exam you will have three options; –
i) Becoming an Institute Trader.
Good resources for understanding the advantages of progressing as an Institute Trader can be found in the FAQs section Institute Trader Benefits and our Student Progression Chart
You can become an Institute Trader from any country in the world as long as you have an internet connection and a desktop or mobile tablet / device to access the brokerage / trading platforms we use. However most of our students / traders reside in the United States and Canada, U.K. and Mainland Europe, Hong Kong, Singapore, South East Asia (ex HK and Sing), Australia, New Zealand and South Africa. However, we do have multiple Institute Traders globally that reside in countries outside these locations.
You must complete either the Institutes Professional Trading Masterclass (PTM) Video Series and pass your exam or the Professional FOREX Trading Masterclass (PFTM) Video Series and pass your exam, in order to be eligible to become an Institute Trader. Once you purchase your course(s), your details will be kept on our database. When you pass your exam and complete your course(s), you will be eligible to become an Institute Trader.
Institute traders open their trading accounts via the brokerage companies / trading platforms that we use as a community, which you can find on the Institute website in the “Accounts” section of the website https://www.itpm.com/trading-accounts/
If you do not see your country listed, do not worry. We are global and it is very likely you will be able to open an account with at least one of the Brokerage companies we use at the Institute and become an Institute Trader.
You must fill in the application form in order to become an Institute Trader. This simply involves you providing us with your Name, Email Address and Phone Number to begin with. We will then check this against our database to see if you have completed your PTM or PFTM Video Series and if you have passed your exam. If everything is in order we will contact you by email with instructions for taking the next step in your application.
If you have already taken the PTM and / or PFTM Video Series and passed your exam you should now read the FAQ document Becoming an Institute Trader in order to fully understand the process and to begin the application process to become an Institute Trader
PTM & PFTM graduates that want to become Institute Traders and reside in the United Kingdom and Mainland Europe apply to open a Contract for Difference (CFD) trading account in the United Kingdom with one of the clearing Brokers of the Institute. The minimum deposit requirement for United Kingdom and Mainland European residents that want to become Institute Traders is £10,000 / EUR11,500 approximate equivalent. However, this is the bare minimum. We recommend that if you want to make real progress, you should be looking to deposit approximately £25,000 / EUR28,750 + into your trading account. If you have completed the PTM and / or PFTM Video Series, you will understand why. The average amount that is deposited as margin by Institute Traders, residing in the United Kingdom and Mainland Europe is approximately £34,000 (figures accurate as of February 2017,).
PTM Graduates that want to become Institute Traders and reside in the United States, Canada, Hong Kong, Singapore, South East Asia (ex HK and Singapore), Australia, New Zealand and South Africa apply to open leveraged trading accounts via the Institutes clearing brokers in the United States, Canada, Singapore and Australia. CFD trading accounts are not available to United States citizens. Consequently, in the United States, margin requirements are higher than in the United Kingdom, Mainland Europe, Canada, Asia, Australia and New Zealand. Typically, in the United States, margin requirements from brokers are between 20%-50% for Equities and Commodities products and in the United Kingdom / Mainland Europe as low as 10%. For this reason, minimum deposit requirements are higher for Institute Traders in the United States if you intend to only trade physical stock positions. The minimum deposit requirement for United States residents that want to become Institute Traders in this instance is $25,000 USD. A higher level of capital is required on deposit for citizens of the United States to get the same amount of exposure and enabling a responsible deployment of the Institute’s approach taught in the PTM and / or PFTM Video Series.
However, if you are a citizen of the United States and you intend to express a large portion of your directional positions in your portfolio utilising long options strategies, the minimum deposit requirement to become an Institute Trader in this instance is $15,000 USD. This is because you are now exposing yourself to leverage via options contracts and not via CFD or financing. By using long options strategies in calls and puts instead of cash (physical) stock with leverage, this means you can utilise the directional education provided in the PTM and PFTM Video Series’ and your downside is protected whilst your upside is leveraged on each position. You can have a lower margin requirement in this instance. Please Note: We do not teach or advocate Retail Traders to simply go naked short options (volatility). Institute Traders generally are only ever short options if the position is part of an overall Options portfolio that is both long and short volatility and directional in its overall nature or when using short Options strategies to overwrite physical positions.
In addition to accessing other Institute Traders globally, all Institute Traders receive direct full track record management from the Institute and may be invited to interview with Hedge Funds with a view to Professional Trading employment in the future, if their objective is to seek employment. This is because we can view your trading account and your positions directly on a Read Only basis. We also continually record and monitor your track record in the backend.
ii) Become an Institute Trader and upgrade to a 3 Month Trader Mentoring Programme with one of the Institutes Senior Trading Mentors.
More information on this can be found in the FAQ Section Three Month Trader Mentoring Programme FAQ’s.
3 Month Trader Mentoring Programmes are open to all Retail Traders globally. Mentoring Programmes are held remotely. You will be in direct contact with your Senior Trading Mentor on a weekly basis via telephone, Institute chat system, Skype and email. All of the Institutes Senior Trading Mentors are Professional Traders with a minimum of ten years industry experience at the highest levels of the Professional Trading world.
On your Trader Mentoring Programme, we will help you put into practice what you have learnt in the PTM and PFTM Video Series’. You will be given weekly tasks to complete and have weekly contact. Your Senior Trading Mentor will Mentor you over the period of your programme and show you how to build a successful trading account for consistent profitability.
By the end of your programme, your Senior Trading Mentor aims to get you to a point where the Institute is comfortable that you can now do everything yourself with minimal contact. We consider a successful Mentoring Programme to be one in which we do not “spoon feed” you to make you money, but we give you all of the skills necessary for you to make money from trading for yourself for the rest of your life. You will be expected to complete your weekly tasks which will take between 8-12 hours per week. Mentoring Programmes are designed so they can be completed whilst holding down a full time job.
Institute Traders that partake in a Trader Mentoring Programme receive full track record management, and dependent on their success over a 9-12-month period, will be put forward and recommended to Hedge Funds within the Institute network for interview. If this is not your objective, then you may also be eligible to receive Institute backing with real capital after you have implemented successfully during and after a Mentoring Programme for a 9-12-month period. If this is not your objective and you simply want to learn how to implement all of the skills and knowledge you have acquired from the PTM and PFTM Video Series, then we can also help you do this. Mentoring Programmes can be tailored to the specific objectives and needs of our students.
The usual course of events to get on one of our Institute Mentoring Programmes is to first complete the online PTM or PFTM Video Series, pass your exam and then apply via the Institute website at the following URL https://www.itpm.com/trader-mentoring/
We will get back to you within seven days to schedule a call. However, you can if you wish, book your Mentoring Programme upfront to receive immediate 12 Month Access to both the PTM and PFTM Video Series, 12 Month Access to the included ITPM Data Subscription and begin your 3 Month Mentoring Programme 4-6 weeks later. More information on this can be found in the FAQ Section Three Month Trader Mentoring Programme FAQ’s.
Please note: Mentoring Programmes are restricted to only a few spaces per Senior Trading Mentor per month and depending on time of year, may be subject to a lengthy waiting list. So if you intend to apply for Institute Mentoring, you should apply well in advance of when you want to start.
iii) Self-implementation with a Brokerage / Trading Platform outside the Institute.
Finally, you may decide after completing your PTM and / or PFTM Video Series’ that you would rather implement what you have learnt from the Institute outside the Institute. This is totally fine. We do not pressure people into doing anything they do not want to do. If you complete the PTM and / or PFTM Video Series’ or both Video courses and you do not want to become an Institute Trader that’s OK. The PTM and / or PFTM Video Series is available to anyone to buy anywhere in the World and you have no obligation to join us as an Institute Trader afterwards. We will be happy for you to implement the knowledge yourself somewhere else and you will still be able to use your resume text when making applications for jobs within the Industry. You will still be considered Institute Alumni and will be on our database as an individual that has purchased the PTM and / or PFTM Video Series’ and completed their exam(s). This means you will be able to come back at any point in the future, apply to become an Institute Trader (if eligible) and use the resume content in your job applications. We will still give you references upon employer request.
You should however seriously consider your motivations for doing this and at least read about the advantages of becoming an Institute Trader by visiting and reading the FAQ section of the Institute website called Institute Trader Benefits.
3. What is the price of the Three Month Trader Mentoring Programme?
The price of a 3-Month Trader Mentoring Programme is delivered on an application only basis. More information on what is included in a 3 Month Trader Mentoring Programme can be found in the FAQ section Three Month Trader Mentoring Programme FAQs
All participants in a 3 Month Trader Mentoring receive the following resources and coaching; –
– 12 Months Access to PTM Video Series = $2,999 Value
– 12 Months Access to PFTM Video Series = $2,999 Value
– 12 Months Data Access to Institute Data = $1,999 Value
– Institute Trader with Institute Trading Account Access including all benefits
– 3 Months Skype Coaching with chosen Institute Mentor dependent on Geography and Mentor availability.
You have two choices in applying and booking a 3-Month Trader Mentoring Programme. Firstly, you can either purchase either or both the Institutes Online Educational Courses i.e. the PTM Video Series and / or the PFTM Video Series before you book your programme and then “upgrade” to a Mentoring Programme at a later date or …, Secondly, you can apply, book and pay for your Mentoring Programme all upfront and get access to all our Video and Data resources immediately as part of your Program.
i) Complete the PTM and / or PFTM first
You can choose to complete your PTM and / or PFTM Video Series first, pass your exam(s) and then apply for your Trader Mentoring Programme via the Institute website at the following URL https://www.itpm.com/trader-mentoring/ – We will first check our database to see if you have completed the online PTM and / or PFTM Video series and passed your exam. If everything is in order, we will contact you within seven working days to schedule a telephone call. You will be told all of the details of the Trader Mentoring Programme on this call and you will be expected to pay the difference between the cost of Option One or Option Two (PTM & PFTM) and the price of a full 3 Month Trader Mentoring Programme.
ii) Apply, Book and Pay Upfront
Apply for your Mentoring Programme via the Institute website; –
Due to the nature of the waiting list for an Institute Mentoring Programme this is a very popular option as students can secure their Mentoring Programme start date and whilst waiting for your Mentoring Programme to start, you can complete each Video Series.’ You just need to let us know in your application that you want to book your Mentoring Programme in advance and to reserve your place. After paying for your Mentoring Programme in advance, we will then grant you 12 Months Access to both the PTM and PFTM Video Series. To proceed onto the Trader Mentoring Programme, we will expect you to complete the PTM and PFTM online Video Series’ and pass your exams first. Your Mentoring Programme will then begin as soon as you have completed the online course(s) by passing the exams and will be scheduled up front.
The advantage of choosing this approach is guaranteed less waiting time for your Mentoring Programme to start and complete. This option is essentially the Institutes Premium Fast Track Option to consuming all of the Institutes Resources and jumping the queue for a Mentoring Programme.
Please Note the waiting list for Trader Mentoring Programmes is on average 4-6 weeks. If you intend to proceed onto a Trader Mentoring Programme you must book your programme 4-6 weeks in advance. Your programme will be scheduled as 4-6 weeks’ preparation (Video Series’ completion) and 12 weeks One to One Mentoring trading live with real Money.
4. When becoming an Institute Trader, is my Trading Account opened in my name or someone else’s?
The vast majority of Institute Trading Accounts are opened in the persons own name. Only in rare circumstances do we allow a situation in which Trading Accounts can be opened in a company name. The Institute will not be trading your money for you, nor will we be giving you trading advice. You don’t need it as you have taken either the PTM Video Series and / or the PFTM Video Series’ and passed the exam(s). You will be trading with your own funds under your own name, utilising an execution only trading account. When you apply for your account, you will also be granting the Institute “Read Only” access to your trading account. This is so we can see all of your positions, see your risk and exposure and also to manage your track record. This is a crucial detail that differentiates the Institute from any other operation. The Institute is an educated community of Retail Traders globally and is run as a remote trading desk / operation by the Institute Management team. By opening your account in your own name and granting the Institute “Read Only” access on your account ensures intervention capability, so that if you join the Institute community and you are trading in a way that we believe could be materially negative for you or the Institute Community as a whole, we will contact you. If we cannot see what you are doing then we have no intervention capability. Also we will not be able to manage your track record.
Intervention capability is a key factor in the Institutes success rates with Institute Traders and is one of the main advantages of joining the Institute as an Institute Trader. For more information on this see the FAQ’s document entitled Institute Trader Benefits.
5. When applying to become an Institute Trader, how does the account opening process actually work?
The Institute’s Account Opening Process works in 5 stages;-
1. PTM and / or PFTM Video Series database cross check
2. I.D. Request
3. Electronic Application & Submission
4. Account Opening
5. Account Funding
More Details; –
i) PTM and / or PFTM Video Series database cross check
Once you have completed your PTM and / or PFTM Video Series and passed your exam, if you want to take the next step to become an Institute Trader, you must send us your Name, Email Address and Telephone number via the Institute Accounts Page https://www.itpm.com/trading-accounts/ – Please make sure you provide us with the international dialling code of the country in which you reside.
The reason you send us these details is so that we can cross check our database to see if you have purchased the PTM and / or PFTM Video Series and that you have completed the exam. Please try to be precise when you send us this information. Make sure you use the name that you registered with when purchasing the course and include the correct email address and phone number, so we can match this in the database. Not doing so may cause delays.
Your application will go to our Trading & Accounts Management team.
ii) I.D. Request
Once we have confirmed your PTM purchase and completion, we will email you and request scanned copies of your identification. This identification will be required to complete your application in stage three. However we require this prior to moving on to stage three of the application, in order to verify who you are and that you actually do have the necessary documentation in your possession. It would be a waste of time and resource if we scheduled a call with you, you applied to become an Institute Trader, then you could not provide the necessary documentation to complete the application process. We therefore require you to send us this before we commit our time and resource to your trading account application.
Typically you will need to provide scanned copies of the following documentation;-
i) Passport scanned on Photo page.
ii) Utility Bill (no more than 3 months old) scanned with residential address shown.
iii) Bank Statement (no more than 3 months old) scanned with residential address shown
iii) Electronic Application & Submission
Once you have sent us the necessary documentation for your account application, our Trading and Account Management department will contact you by email to schedule a telephone call with you. On your scheduled call you will be speaking to one of our Account Management experts who will provide you with the link to the online application process. You will be expected to have access to a computer / device that has internet access on this call. This is because you will be expected to complete the application electronically while you are on the telephone with our Account Management expert. If you go on the call without access to the internet, you will not be able to complete this stage of the process. This simply means the call will have to be re-scheduled for a time when you have access to the internet. A scheduled telephone call usually lasts 30-45 minutes. Your application will be submitted at the end of the call and you will receive electronic confirmation of your application.
iv) Account Opening
After submission of your application it will take a minimum of 72 hours (maximum one week) for your account to be opened. Your trading account at this stage will be opened with a zero balance.
v) Account Funding
You will then be required to make your initial margin deposit according to the Institutes minimum deposit rules. This will vary according to your geographical location (See Above).