If you do one of their regular programs, then you're live as soon as you pass (a minimum of 15 days), yes. This so called "career path" program is different as you have to go through all the 5 programs and pay for each of them. Assuming you're passing each within 15 days, that's 75 trading days. So, roughly 4 months, then. Thing is, I wouldn't have mind enrolling in such a program if I knew I was actually funded and this firm was actually scouting for talent and would back a trader. The problem is, they don't. If you do one minor slip they will not say: "Hey. You messed up, but seeing how amazing you did over the last 4 months, we want to continue staking you." It's right back to start... The only funding you're getting is the profits you generate yourself. As soon as you withdraw your profits, you're gone.
Hello Laissez Faire, I think there is a small confusion about how the Trader Career Path works, so let me try to clear it up. Traders start their subscription with a $25,000 account, they must abide by the ruleset Earn2Trade provides and reach the objectives before they can start their live or livesim journey. Once those objectives are met the evaluation period is over and they are introduced to the prop firm. At this point, the trader is presented with two options: 1. Continue to a Junior LiveSim Account (EOD Drawdown). 2. Proceed to a Junior Live Account (Trailing Drawdown). When they hit the target, they withdraw their profit and upgrade to a $50,000 Live account. This continues until they reach the $200,000 live account - once they reach their profit goal on that, they will get a custom offer. You do not have to pass each step individually as evaluations - which I think is the key to the misunderstanding here. You pass one evaluation, and then progress through a series of accounts that you are expected to profit on and withdraw from. You don't have to "go through all the 5 programs and pay for all of them". Discounting data fees, the only thing you pay for is the first evaluation. I hope this clarifies how the Trader Career Path works and if you have more questions please reply here or contact our support desk by email to: support@earn2trade.com or live chat.
Indeed. Is there any reason a trader would choose anything other than the LiveSim account? If I understand correctly, the drawdown rules are easier and you also don't have to pay exchange fees? $105 per month? Can you say anything about that custom offer? Okay. So, to be clear and assuming you pass within 15 days, you only pay the initial $115 once? Even when continuing and going through the rest of the steps? After that it's only exchange fees? That's still $105 per month, but it seems like it's possible to skip those by using a so called LiveSim account? Thnak you. It does look like a better deal now.
I think E2T should offer this promotion going forward as well. Topstep refunds your last month if you pass the evaluation.
It's a good program. If you excel at trading there is a chance you paid nothing out of your pocket and make thousands. I understand that when you reach the target at each step you can withdraw and start over with another bigger account without cost, just data fee that can be paid with the withdrawal and keep repeating until the largest last account.
Hello again, The choice between trading live on the market or utilizing a Livesim depends on the trader's unique strategy and preferences. Earn2Trade's proposition is to offer a Live account. We stand by our word, if you select a Live account, you'll be provided exactly that. Some traders personally want to experience live markets and prefer the pressure, but some others, can't bear that stress, and we provide easing into the process, which is also cheaper due to the nature of how fees work on the CME. During the Livesim stage, traders are required to adhere to the End-of-Day (EOD) Drawdown rule, ensuring prudent risk management. Upon transitioning to live trading, they will switch to employing the Trailing Drawdown rule, which further protects against excessive losses. Regarding fees, it is important to mention that a monthly cost of $105 per month, per exchange, applies to traders operating on a live account. However, if they opt for a LiveSim account, these fees are covered by the proprietary trading firm. We can't really say much, though, because of the "custom" nature of the account. If you have shown profitability in prior accounts, you may be able to converse with the prop firm on how you'd like your rules changed and they will consider. Maybe you need a bit more leeway or more rules, up to you. Yes, you only pay subscription fees during the evaluation, if you are done within 1 month, that is one payment only. You have the exchange fees only after, that is correct. There are fees on withdrawals, mostly charged by the bank or payment method you select and, yes, Livesim has no exchange fees to charge as they are covered by the prop firm. Please note that the LiveSim option is available until traders achieve the profit goal objective specified for their account size. For instance, if a trader holds a $25,000 LiveSim account, they can continue trading on it until they reach $1,750 in profits. Once this threshold is surpassed, they will transition to a Live account.
Sent you a PM. Compared to the competition, E2T is knowingly screwing over their customers. I voiced my displeasure and I told them I'm more than happy to steer people toward better options. They could care less about the customer based on their response.
Thanks. I appreciate your response. I have tried among them and found that there are always at least one thing i like and don't like about each firm. Here is hoping that they will learn from their customers and eliminate those rules that are unpopular over time.