Firstly, we need to point out some inaccuracies here please. The idea that businesses should generate a return, or that people can buy something with the expectation of getting more has nothing to do with a lottery. This ridiculous comparison is completely illegitimate and irrelevant to the conversation. Individuals aren't buying a ticket on a wing and a prayer, hoping that some voodoo magic will win them a chance to be that one in 50 million who will get a ticket to never never land. Our candidates are taking an examination they believe they are capable of passing. The majority do not, however a large percentage certainly does. Secondly, we offer two different examinations. Our most popular is the 15 day Gauntlet Mini. When candidates pass this examination they get funded by Helios with real money at a real brokerage (Dorman) under their real name. It isn't a joke and it isn't a scam. Last month 134 individuals were funded by Helios. Earn2Trade's candidates were funded to the tune of $267,000.00. Real money. Whether you think that number is large or small that is irrelevant. It is real. Our second exam is the 60 day Gauntlet. In the Gauntlet the trader should go to a LiveSim account once they are "funded", and the reason they do so is because the Gauntlet permits overnight trading. The trading firm doesn't want to cover the full overnight margins for the trader, so we put them on a LiveSim for the first $5,000.00 of profit. The minimum withdrawal amount at Helios is $100.00. This information is freely available on our website.
What do you know about who it attracts? We deal with extremely educated candidates every single day who argue about availability of their preferred platform, commissions, and everything you can imagine under the sun. This service is not at all targeted at beginner traders and we'll appreciate you cut out that nonsense already. We make that clear in our facebook advertising and we make it clear whenever we are asked in comments or in forums. Our system is not for beginners. It's easy to show you plenty of people who have 2K or 5K and choose to use our service. These are people who cannot trade their desired amount of contracts, or simply don't want to put that amount of money into the market. I don't know why it is simply unbelievable for you that traders, many successful traders are interested in participating in our program. We are not dealing with the hypothetical. This is our real experience. We don't want beginners and we have a lot of trouble trying to satisfy extremely demanding candidates. We offer live support for that very reason.
I disagree with your points and the type of target audience your threads attract the most. I just voiced the impression that the marketing on your website speaks a different language from how you explained the services here. Perhaps just my perception. It is your thread, your rules and I cut it out as requested.
Perfect. Thank you very much. I'm glad you linked our Beginner Crash Course educational package. You'll find that it does not provide a Gauntlet Mini or Gauntlet access in it's purchase price. We have different services targeting different people. Again, we don't recommend or advertise the Gauntlet Mini or the Gauntlet to beginners, period.
Frank I enjoy and agree with a lot of your post. I respectfully disagree with you on this one though. Here's why: There's only really three options if you want to day trade: #1 Trade real live money (the market is even more brutal and will chew you up and spit you out and take your money at a way faster rate than these companies will) #2 Trade SIM #3 Trade Paper SIM account these companies offer, with the ability to turn it into a way to generate money with your risk being a fixed cost that you know. There's no debate or argument the companies make money off of people failing the test and selling educational things and for a lot of people yes even a dream. But the point is the alternative to this (live trading real money) is actually even more brutal. So, given all the options and entry points. I do think it can make sense for some people. I actually know a long term successful trader who has taken these test before and passed. They certainly don't in any way shape or form need to do it, they are financially set for life. If your argument is going to be they may not pay out, I am not going to debate that. Certainly a risk one takes. However, the person I know who passed it, did indeed end up getting paid out. I can appreciate that's not much of a sample size, but at the same time I haven't seen many post on here if any of people not getting paid out from TST, Oneup, E2T and SMB. Lastly I am trading a real live account every day in and out full time and on some days there's a secondary live account I trade too. I've taken the test (E2T) and passed and am currently waiting to move to live. I will gladly report back to you if I have issues getting paid out.
My purpose isnt really to attack your company. Its to hopefully change the things that I dont like . If the MINIs dont goto a live sim account I assumed wrong then I was going off the Gauntlet which i know has a live sim account because i have been funded before on that one. This doesn't change the fact that the current consistency rule is not fair to the trader as you stated people pay someone pays for a specific profit target they think can meet and the structure of this rule makes that target variable unless the customer truly understands the rule before buying I'm guessing most wont until they see it first hand.
We appreciate your intention and will certainly keep it in mind going forward. We do not agree with you that fairness has anything to do with the implementation or the adherence to the rule. It is not a rule to make things more or less "fair" for candidates. It is to encourage the candidate to abide by a consistent trading strategy and to limit their excesses. We have seen that this is an issue for many candidates, and it is also an issue to the funding firm. If you want to speak about fairness, you should also understand that the funding firm does not want to provide up to $4,500.00 in risk capital for someone who had a strong day of trading and then coasted through the rest of the examination, only to lose that $4,500.00 three days into funding. The rule is stated clearly in the Gauntlet Mini "Mini FAQ", and there is a a link directly also in the larger FAQ. You can find the link here. If you think there is a better way to explain it we would appreciate your input. https://help.earn2trade.com/en/articles/3849975-what-is-the-maintain-consistency-rule
I understand but that will tend to happen when they are looking at such a small sample size as proof someone can trade. Maybe in the future the conditions will be better for me to sign up again.
@Earn2Trade I've got question regarding ITIN number. I found many contradictory answers. Do I need it immediately in order to withdraw any profit from Helios funded account as non US citizen? Or it can be done later, before the end of the tax year? I would be very grateful if some e2t/Helios representative finally clarify this issue.
No you don't need it immediately to withdraw profit from Helios. You need to submit it with your personal tax return. Where did you find many contradictory answers?