Think Capital Promo Code MADTRADES applies a 20% discount to ThinkCapital's evaluation challenges, cutting the entry fee on any programme and account size the firm offers. That is the whole of the benefit, and it is worth being precise about it, because a fee discount and a change to trading conditions are two very different things. This article works through the conditions attached to the code and to the product it discounts — who can use it, what it touches, what it leaves alone, and the situations in which the saving quietly stops mattering.
What the code actually changes
MADTRADES reduces the challenge fee paid at checkout. Nothing else in the product moves. The profit target attached to your programme stays where it was, the daily loss limit stays where it was, the maximum loss limit stays where it was, and the profit split is untouched. If you were on course to pass or breach before applying the code, you are on exactly the same course after applying it.
This matters when reading promotional language generally. A discount on an evaluation fee is a discount on the price of admission, not a loosening of the rules you are being admitted to. A 20% reduction means you pay 80% of the listed fee, so the absolute saving scales with the account size you select — the larger the evaluation, the more cash the same percentage returns to you. The rulebook you are buying into does not scale down with it.
Eligibility and where the code applies
The code applies across ThinkCapital's programmes and account sizes rather than being pinned to a single product. That covers Lightning, the one-step evaluation with a 10% profit target; Dual Step, the two-phase model with roughly a 9% target in phase one and 5% in phase two; Nexus, the three-phase route with descending targets in the region of 7%, 6% and 5%; and Bolt, instant funding with no evaluation at a higher up-front cost.
Because the discount is not tied to one programme, the choice of programme should be made on its rules and not on where the saving is largest. The rules differ meaningfully between the four, and buying the wrong one is one of the easier mistakes to make here. Lightning's single phase is the fastest route but the least forgiving, since one bad sequence ends the attempt. Nexus stretches the path over three stages with a lower bar at each. Bolt removes the evaluation entirely at a premium price, which only makes sense if you are confident enough in your process to pay for skipping the proving stage.
Combination and stacking restrictions
A promotional code of this type normally cannot be combined with another promotion in the same purchase. In practice, checkout systems that accept only one code will either replace the code already entered or reject the second attempt outright, and neither behaviour is always signposted clearly. If you are weighing MADTRADES against another offer, work out which one produces the lower final total on the exact configuration you intend to buy, then use that one alone.
Add-ons complicate this. Reaching the headline 90% profit split, and the fastest payout frequency, generally requires paying for an add-on at purchase; the default split for most traders is 80%. That means the total you pay is the discounted challenge fee plus whatever upgrades you have selected. A discounted challenge plus a paid upgrade may cost more than a competitor whose 90% split is standard, so the comparison worth making is the all-in figure, not the sticker price with a percentage struck off it.
What the discount does not cover
The most important exclusion concerns resets. The code does not cover a retry or reset if you breach a rule, unless the firm's terms say otherwise. A breach is therefore a full-price event in most cases, and the 20% you saved on entry is not a buffer against it. Anyone planning around multiple attempts should price those attempts at whatever the terms state rather than assuming the discount carries forward.
Trading conditions: targets, daily loss limits in the 3–4% band and maximum loss limits in the 6–8% band are set by programme, not by promotion.
Profit split: the discount does not raise the default 80% split.
Payout timing: payouts on the funded stage run on a cycle measured in weeks rather than on demand, and a fee discount does not shorten that cycle.
Refunds: evaluation fees are generally non-refundable unless the provider's terms state otherwise.
Resets and retries: not covered unless the terms say so.
How the offer is effectively forfeited
There is no wagering or turnover requirement here in the casino sense — this is a price reduction on a product, not a bonus balance to be cleared. But there are several ways the value of the discount evaporates, and they are worth naming because none of them involve the code failing.
Not applying it. If the promo code or coupon field is skipped at checkout, the full fee is charged and the purchase is complete. Confirm the reduction appears in the order total before paying.
Breaching a rule. Hitting a daily or maximum loss limit ends the attempt, and the fee — discounted or not — is spent. A reset is a separate purchase and is not covered by the code unless the terms say otherwise.
Buying the wrong programme. Since the rules differ between the four, a discount on an evaluation whose structure does not suit your method is a cheaper route to the same failure.
Falling foul of 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. A profitable evaluation that breaks one of these is worth less than the fee you saved.
Being unable to withdraw efficiently. Some withdrawal methods carry their own fees, and a minimum withdrawal amount can hold small balances in place. Both can erode the saving on the way out.
Regional and regulatory scope
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 genuine differentiator in a sector where many firms have no visible institution behind them.
The scope of that protection needs stating plainly, because it is the single most misread point in this part of the market. 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. The regulatory protection attaches to ThinkMarkets' brokerage clients, not to prop-firm participants. ThinkCapital does not take deposits and the accounts are simulated. The multi-licence backing is best understood as a counterparty-risk improvement rather than as consumer protection covering your evaluation fee.
Terms to read before the code, not after
The discount is the least important variable in this decision, and the terms that decide whether a passed evaluation becomes money are all elsewhere in the document. A short reading list, in order of how much it can cost you:
The payout section: how a withdrawal is reviewed, what can delay or reduce it, the cycle length, the minimum withdrawal amount and the available methods.
The prohibited-strategy definitions, in the firm's own wording rather than a summary.
The reset and retry provisions, including whether any discount applies to them.
The programme-specific rule sheet for the exact challenge you intend to buy, since limits vary across the range.
Whether the profit split you are assuming is the default 80% or requires the paid upgrade.
Independent sentiment is also worth checking directly, because it moves quickly in this sector. Recent reviews on independent platforms and trader forums carry more weight than testimonials on a firm's own site, and the most recent ones carry the most.
Applying the code correctly
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, remembering that add-ons change the all-in cost.
Proceed to checkout and locate the promo code or coupon field.
Enter MADTRADES and apply it.
Check that the 20% reduction is reflected in the order total before you pay.
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. Since the discount applies at every size, 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. Trading is available through TradingView and ThinkTrader, which is worth confirming suits your workflow before purchase rather than after.
The short version
MADTRADES takes 20% off a fee you were paying anyway, applies across the range, and changes nothing about the rules, the split or the payout cycle. It normally cannot be stacked with another promotion, and it does not extend to resets after a breach unless the terms say so. Apply it once the programme decision is made on its own merits, and treat the fee itself as at-risk money spent on access to a simulated account.
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.