Alright it's been awhile. So after I passed the Tryout with Apeteros, a month later I received the account. They deposited $2500.49 in the live account. When asked about that and if it was a demo account, Merritt told me that it was a live account and that they will put money in the account if need be. This put a thorn in my side because I am thinking I have 8 tries to make money since I risk 500 dollars a day trading now psychologically I am thinking 5 chances. Can I really trust what he is telling me now? I proceeded to trade and usually the first day and week are the toughest because you will be excited so more adrenaline pumping. Long story short I was down 1500 dollars so 1k left of the 2500.49 that was deposited. Then I told Merritt that I would like to venture on the micros since I wish to preserve the account. He did ask me if I would like to go to micros first instead but I told him no. I did not think it was a good idea because I did not do micros in the simulation and things should be fine on the regular NQ instrument. Surprise (2500.49)!!! That was not expected. Anyway I got terminated because I did not respect Money Management or the companies firm to be more precise, according to him. In my defense I told Merritt that I was trying to reach to the payout since it was the end of the month. When I started to trade the micros I remember having the lowest balance of 788 dollars then Merritt told me that if I do not have positive days soon he will have to close the account. That was mighty odd to me he would say something like that. I guess he makes up the rules as time passes. So then I made about 5 positive days in a row and also brought the account to 1900 dollars by the 29th of last month. The next day I lost about 792 dollars. Obviously that's way past my daily loss limit which I had agreed to a 50 dollars a day with him. So yeah, I got sacked. While all this drama is going on, I am thinking to myself, "micros", I could just trade this on my personal account myself. That being said, I told him how I felt afterwards that he showed lack of integrity and not ponying up the 4k that should have been like the deposit but he proceeded to tell me the firm provides the trader with the minimal risk possible yada yada yada. Anyone care for salami? Because that's Baloney! Then he mentioned something about 40 million dollars and I mentioned just 4k to him but my message was somehow erased or not registered. Not sure what happened in the discord. My take on these new companies? What ever they are selling, just do not buy it. Also it's best to ask the company to see a copy of the contract before you take their tryout/combine/test//////.
@legionx wow that's pretty horrible. I mean I know people have problems with the concept of funded trader programs, but at least you kind of get what you pay for. Sounds like Apeteros doesn't even go that far. I took a quick look at their site and they mention more about training as well as just a trader tryout, did they really provide much training?
They have the Nadro Course but imo, if you pass their Tryout you do not need their course. I am not even worried. I rather put myself on the pedestal than them anyway. Making my little pittance with my own account, no worries here. Just that I had be plans after passing their tryout but it was not as expected.
I dont know if they updated this description but it looks like it still as you start with 4k but they can can update your daily loss as they see fit. the way they were micro managing i would have thought that you didnt pay for a tryout. why would you have to tell them your trading micros they are on the same exchange. 60% pay 315/month only benefit seems that the dd is static. It would appear they really only want true traders to get their money(which is valid) but if your charging for a tryout and someone passes i would think you knew the risk hold up your end. Quarterly payouts how often are people lasting in these accounts they dont seem well funded from your story Onboard onto the remote desk and trade live capital for Apteros. You’ll begin with a $4,000 max drawdown from starting balance, and assigned a daily loss limit reflective of your Tryout track record. Trader payouts are quarterly Platform, order routing, & market data fees are deducted from your trading account balance as they occur. You will be expected to abide by any firm directives to modify risk, sizing, going back to demo, or the likes. There’s an element of trust here in that we will manage you with integrity and with your ongoing development at heart. If you don’t trust us to do that, you should not try out to join our firm. We believe in starting new traders out small, and responsibly helping them size up after displaying consistency.
So, I decided to try Earn2Trade End Of Day "mini guantlet" 25k. Low and behold no "live trailing" drawdown which is awesome. Being an experience kool aid drinker, I decided to check my Rtrader to see what's the commission. I entered two trades up 37 dollars but in my Rtraders says 8.08 dollars of commission. So my actual profit was roughly 29 dollars. I spoke to an agent of theirs, Earn2TRade, which he said a trader can request live commission but it would activate at the EOD. Obviously I am thinking who in the world would accept commissions of Standard NQ to equal micros account? So by this time I am more ticked off on this sneaky characteristic of this business. Why are companies not practicing 100% integrity? It's always something just to make it more difficult on the consumer. I just finished a trade and I was so proud of myself leaving mnq to hit my profit target after down $123+. Traded two micros lots and balanced showed 251xx.xx. However when looked on Rtrader, commission is 72.72 and profit balance is 27.xx. All that hard work. FYI.
Hello legionx, We appreciate your comment on the new EOD Drawdown rule, we are excited to see how well our traders have received this change. As for the commission cost, there are many occasions where tell you about commissions. The welcome email is one of them, but before purchase, the Earn2trade Gauntlet Mini page would be another resource, as well as our FAQ. Unfortunately, our current system only allows changing the account commission setup after the end of the day, or if you haven't traded, which is why we recommend reading the welcome email where we link you to the correct commissions FAQ.
Trader payouts are quarterly Quarterly??? what kind of BS is that ? That should have been your 1st tip-off that this was something not to pursue. Anything less than monthly payout is BS in my opinion 99% of these companies are just “gotcha” BS In my opinion most of companies in this business —-their “funded trader” contract is way too one-sided, unfair and unrealistic (that’s probably what many of them refuse to show you the final “funded trader”contract in advance when you are in just the challenge phase. Or considering doing a challenge) because if they did show it to you in advance you would see it’s BS and not even spend the money (or waste your valuable time) doing the challenge Let’s also remember here folks……these companies are not starting off giving you hundreds of thousands (or millions) to trade In most cases you are trading a $2500 to $5,000 starting drawdown (which is trailing in most cases) If they were giving you a $100,000 to $500,000 real drawdown then I could see perhaps a trader being willing to put up with these over the top rules and gotcha clauses as the trade off for being able to make potentially huge amounts of money each month with a $100k-$500k drawdown but at the $2500 to $5,000 level these rules and contact clauses are a joke
That's hysterical! They play with your money while you wait patiently. I've seen a few posts from Black on TW. They guy is a loser. He trades oil and takes huge hits. Obviously, he's done with trading and will now join the prop firm band wagon. He probably figures he can make more money with losers like himself!
Are you prohibited by contract to post the Apteros funded trader contract (the blank one-not the one you filled in and signed) it would be interesting to see the terms and conditions