Alright, so I been reviewing the different prop firms available. And there seems to be many options for day traders but only 1 for swing traders? that being earn2trade I am trying to figure out which one has the best value for your $ and time and this is what I think For Day Traders: SpeedUpTrader - 10 days - No scaling Plan - 12 contracts - $3,500 maximum drawdown. -$200 one time (if passed, there is another $100 fee) I really want to see the funded contract tho, I can't believe its not public yet they ask you to commit $200? that is crazy, if someone has it please PM me it Also, for funded SpeedUpTraders, Does your order show up in the live dom? For Swing Traders: Gauntlet -60 days -$2500 drawdown -$25k buying power, (no day trading margins?) -Can swing trade -$349 one time Now buying power wise, Gauntlet is the best as you get $25k buying power for only $349 SpeedUpTrader uses day trading margin which can be found for pretty low, Like $300/lot. So its really like $300 fee for $7100 buying power. As far as topstep and oneup trader. They both have this ridiculous scaling plan which effectively negates their $ to margin ratio. Like if people wanted to scale in, might as well use your own account and start small, Micros are coming so paying over $300/month for these prop firms wont be seen as attractive as you can trade 10 micro lots for that amount and continue to scale($30 per micro lot day trading margin) Dilemma: Its either SpeedUpTrader or Gauntlet(unless someone knows others?) SpeedUpTrader pros 10 days only, Smallest time commitment 1 exchange data is free SpeedUpTrader cons Less buying power than gauntlet more rules(even counter profit rules like you cant let your profits run, it has to be consistent to average days) Unsure on what funded contract terms are? Earn2Trade Gauntlet Pros/cons This one is tricky as they are not specific in their funding offer rules. They could just send you $10k buying power with 60% split and tell you that you can't swing trade. That is like a 1 lot you can get for $300 day trading margin. And you have to pay $420/month for all data or $105/each :/ Spending 60 days on the gauntlet for a gamble like that doesn't seem worth it. Does anyone know any other prop firms that allow swing trading?
I have registered only to be able to answer in this post. Be careful with Speedup. Stay away. It´s a piece of shit. I have friends suffering with that platform and feeling true betatesters: bugs, delays, silences, no support...a fudge. It is a platform made with haste and greed. And who is one of the founders??? Marcelo Arrambide . Yes, Marcelo. That tells you everything. One of the biggest smoke-sellers in industry. Run away and do not look back.
one thing to mention is speeduptrader has a trailing drawdown and based on their website, apparently they only let you place trades from their own speeduptrader platform. and there's no guarantee that their lack of a scaling plan still applies to the funded account. i do think the gauntlet needs some revisions when it comes to funding offers. they claim that they need this amount of discretion when giving out funding offers since they give traders maximum freedom and flexibility, which is true. but even then, it's a bit too blackbox and discourages traders from taking up the gauntlet challenge in the first place since the payoff could be unpredictably low compared to the time spent. i'm fine with starting traders out with 10k buying power if they didn't do so well on the gauntlet but the possibility of a 10% drawndown (mere $1000 loss limit on 10k account) + a 60% split for what amounts to 1 ES/NQ contract buying power is just laughable. it's like taking the low-performing traders and giving them a restriction (10k account). then they make it even harder for them by tacking on additional restrictions (10% DD, 60% split) on top of already-placed restrictions which only further increases their likelihood of losing funded trader status and prevents them from effectively compounding their account, which should be in Helios' interest. i believe starting low-performing traders with lower buying power is the correct move. if they didn't do so well on the gauntlet, they have no business trading 2+ contracts. but at the very least, Helios should still give this group of traders a fair chance at being able to grow their account balance just like the other more skilled funded traders, esp since Helios automatically takes their cut every month which already makes it that much harder to compond the account (as opposed to only at time of withdrawal like other futures evaluators).
I can see that if I log in on speedup.tradovate.com with my credentials (user/pass) to log in on demo Tradovate's platform I get demo from Speedup Is Tradovate somehow related or associated with Speedup or Marcelo Arrambide?
Yes, Speedup is associated with Marcelo Arrambide. I emailed their support last week and it turns out there is no scaling plan, when you get funded, either. And the only hard requirement is that you trade at least ONCE per week. I attempted to get an express account set-up, this morning and didn't see how I could after pressing the "Select Plan" button. It brings you to a login page for existing customers, but no way to register for the new customers. I'm waiting for their response to my ticket since 8:45 AM EST. I'll keep everyone posted.
Finally got a response at the end of the trading day! They offer a private link with a special offer, so it was worth the wait.
You'll need to email them after you attempt to get a funding test started. Since it won't let you, they will offer you a discount. Try it. This may not last long.
Hi, Times! It *was* for 30% percent off the $50K funding test, only. Not sure if it's still available.