Think Capital promo code MADTRADES applies a 20% discount to ThinkCapital's evaluation challenges, reducing the entry fee on any programme and account size the firm offers. ThinkCapital's distinguishing feature is that it is backed by ThinkMarkets, an established multi-regulated broker, which puts it in a different category from the many prop firms with no visible institution behind them. This guide covers the programmes, the rules and where the code goes.
What Is ThinkCapital?
ThinkCapital is a proprietary trading firm that allocates simulated capital to traders who pass an evaluation. It launched in 2024 and runs on the infrastructure of ThinkMarkets, a broker regulated by the FCA in the UK, ASIC in Australia, CySEC in Cyprus and the FSCA in South Africa.
That backing is a meaningful differentiator. Prop firms are not themselves brokers and generally are not regulated as financial institutions — what you buy is access to a simulated account and a contractual promise to pay a share of simulated profits. A firm running on a regulated broker's technology and balance sheet is a better counterparty risk than a standalone start-up, though it is important to be clear that the regulatory protection attaches to ThinkMarkets' brokerage clients, not to prop-firm participants. The firm does not take deposits and the accounts are simulated.
How the 20% Discount Works
Reduces the challenge fee paid at checkout — targets, drawdown limits and profit splits are unaffected
Applies across programmes and account sizes rather than one product
The absolute saving grows with the account size selected
Normally cannot be combined with another promotion in the same purchase
Does not cover a retry or reset if you breach a rule, unless the firm's terms say otherwise
The Four Programmes
Lightning
A one-step evaluation with a 10% profit target. The fastest route to funding, and correspondingly the least forgiving — a single phase means one bad sequence ends the attempt.
Dual Step
The conventional two-phase model, with roughly a 9% target in phase one and 5% in phase two. Spreading the requirement across two stages with a lower second target reduces the pressure to force trades.
Nexus
A three-phase evaluation with descending targets in the region of 7%, 6% and 5%. More stages means a longer path but a lower bar at each step, which suits traders whose edge is small but reliable.
Bolt
Instant funding with no evaluation, at a higher up-front cost. Worth it only if you are confident enough in your process to pay a premium to skip the proving stage.
Across the range, daily loss limits sit in the 3–4% band and maximum loss limits in the 6–8% band, varying by programme. Account sizes run from around $2,500 up to $600,000, and entry prices on the smallest accounts start in the region of $39–$59 depending on the programme. Trading is available through TradingView and ThinkTrader.
Profit Split and Payouts
The headline figure is "up to 90%", and the word "up to" is doing real work. The default split for most traders is 80%, which is around the sector norm rather than above it. Reaching 90%, and the fastest payout frequency, generally requires paying for an add-on at purchase. Factor that into the comparison: a discounted challenge plus a paid upgrade may cost more than a competitor whose 90% split is standard.
Payouts on the funded stage run on a cycle measured in weeks rather than on demand. Check the cycle length, the minimum withdrawal amount and the available withdrawal methods before you buy, since some methods carry their own fees.
Checks Worth Doing Before You Buy
Proprietary trading is a young sector with a high turnover of firms, and the discount is the least important variable in the decision. A few checks cost nothing and are worth more than any promotional rate.
Read the payout terms, not the payout marketing. Find the section of the terms covering how a withdrawal is reviewed, what can delay or reduce it, and what the firm treats as a prohibited strategy. This is the part that decides whether a profitable evaluation turns into money.
Check current independent reviews yourself. Sentiment in this sector moves quickly. Look at recent reviews on independent platforms and trader forums rather than at testimonials on the firm's own site, and weight the recent ones most heavily.
Understand the prohibited-strategy list. Rules on news trading, hedging across accounts, copy trading and latency arbitrage vary between firms and are enforced at the payout stage rather than at the point of trading.
Start small. The discount applies at every account size, so there is no cost advantage to buying a large evaluation before you have been through the firm's full cycle — including a withdrawal — at least once.
Treat the fee as at-risk money. Evaluation fees are generally non-refundable, and you are buying access to a simulated account rather than a regulated financial product.
How to Redeem the Code
Open the official ThinkCapital site and go to the challenge selection page.
Choose your programme — Lightning, Dual Step, Nexus or Bolt.
Select an account size and any add-ons you want.
Proceed to checkout and find the promo code or coupon field.
Enter MADTRADES and apply it.
Confirm the 20% reduction appears in the order total before paying.
Pros and Cons
Pros
Backed by ThinkMarkets, a broker with FCA, ASIC, CySEC and FSCA licences
Four programmes covering one-step, two-step, three-step and instant funding
Wide account range from around $2,500 to $600,000
TradingView supported directly, which many competitors do not offer
Low entry prices on the smallest accounts
Cons
The default profit split is 80%; the advertised 90% costs extra
Launched in 2024, so the track record is short by industry standards
Rules differ between the four programmes — easy to buy the wrong one
Payouts run on a cycle rather than on demand
Verdict
MADTRADES reduces a fee you were paying regardless, so apply it once you have decided. The broker backing is ThinkCapital's genuine advantage and a reasonable answer to the counterparty question that hangs over this whole sector.
Be realistic about the rest. The default profit split is 80%, with the headline 90% sold as a paid upgrade, so compare the true all-in cost against other firms rather than the advertised split alone.
Trading carries a substantial risk of loss and is not suitable for every investor. Evaluation fees are generally non-refundable unless the provider's terms state otherwise. Nothing here is financial advice.
Promotional terms, eligibility and values are set by the provider and can change at any time. Always confirm the current terms on the official site before signing up or completing a purchase.