Earn2Trade Founder Charged With Fraud

Although I take your point canoe... it still has few issues
- people don;t stop at 1 test fee so the break even point keeps going higher
- "easily use this to run up a funded account.." that is easier said than done, many give up and as the ratio of no of people / no who get funded quickly ( within 1st attempt) gets skewed in favor of the "prop"
so then it comes down to is the profit made from real profits of funded traders or from test fees!
that is the real Motive!
Alternative for individual is use the same test criteria and trade on sim and when you think you can pass it quickly then and then only go for this and follow what you mentioned earlier!

I think we are looking at it from diff perspective as an individual you see it as a good service
As to rank Ethicks of business I would rank it much much lower than the true props!
also separation of Testing entity and funding entity is a red flag (IMHO)
any way lets agree to disagree
 
Statement on Allegations of Personal Wrongdoing by Former Co-Founder


September 2nd, 2020

On September 2nd, 2020 the CFTC charged the former co-founder of Earn2Trade,
Ryan Masten of violating CFTC regulations on several counts. None of the alleged
incidents took place during Ryan’s ownership of Earn2Trade, nor had they any
connection to Earn2Trade. By April, 2019, Ryan was already a fractional minority
shareholder in Earn2Trade, and on July 1st, 2020 his final shares were purchased
and he was no longer a shareholder in the company.

Earn2Trade is saddened to hear of the allegations against its former co-founder.
Earn2Trade strongly rejects the alleged activities and rejects unregulated Binary
Options trading in its entirety.

Earn2Trade prides itself on providing an objective examination and an equal
opportunity for retail traders around the world to test themselves and become
professional futures traders. We stand by the outstanding work our company
does every day, and we remain committed to providing a fair environment for
retail traders to test themselves and enter the world of trading.
 
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Juni085 said:
how does it affect the prop firm behind E2T ?
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Hello Juni085,

The prop firm behind E2T was sold by Ryan as well, and accounts are currently still being serviced through the Prop firm. Earn2Trade is also exploring additional prop firm options to maintain a high level of service for candidates.
 
destriero said:
If you f*cking idiots (not you, Axon) believe that your trades are hitting the tape then I have a binary options opportunity for you. You deserve to be fleeced.
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When traders pass their evaluations they are setup directly with one of the brokerages connected to the prop firm, (Ironbeam or Dorman). There is an option for LiveSim on the Gauntlet where candidates would trade on a Rithmic data feed, but that was merely a step before funding and not on the Gauntlet Mini.
 
Earn2Trade said:
When traders pass their evaluations they are setup directly with one of the brokerages connected to the prop firm, (Ironbeam or Dorman). There is an option for LiveSim on the Gauntlet where candidates would trade on a Rithmic data feed, but that was merely a step before funding and not on the Gauntlet Mini.
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Is the prop firm an NFA member? Does your prop firm have any reporting requirements? No? Either it's a pool and meeting intraday risk, meaning that nobody is truly funded to the level you state, or you're putting these guys on sim. Another reason to avoid Dorman and Ironbeam.
 
traderjo said:
also separation of Testing entity and funding entity is a red flag (IMHO)
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I believe this is due to regulations. It’s crazy to me that people are complaining about a service which can give them a chance to trade real money without any track record. You can put yourself through all the tests using TOS free paper trading account. The real problem is that, just like any other retail trading service, most of their customers are gamblers.
So it comes down to a simple choice - provide service with understanding that 98% of your customers will fail. Or not provide the service at all.
 
destriero said:
Is the prop firm an NFA member? Does your prop firm have any reporting requirements? No? Either it's a pool and meeting intraday risk, meaning that nobody is truly funded to the level you state, or you're putting these guys on sim. Another reason to avoid Dorman and Ironbeam.
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No, it is not an NFA member. Traders who join the prop firm become limited owners of the company and receive sub-accounts of the prop firm master account.
 
destriero said:
If you f*cking idiots (not you, Axon) believe that your trades are hitting the tape then I have a binary options opportunity for you. You deserve to be fleeced.
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destriero - Even if the actual funded account agreement between the funding company that funds E2T traders who pass evaluation and the traders has a clause that covers that trades may or may not hit the tape --what difference does it make as long as they pay the trader (in a timely fashion and in full) their share of the profits they generate in their trading activites in the funded account. destriero - please explain why (if they pay you the profits) it matters even if the trades from the funded account dont hit the tape?
 
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