Earn2Trade Founder Charged With Fraud

StockTrader100k said:
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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Are your for fucking real? WHY DOES IT MATTER?

OK, I'll assume that you're genuinely just stupid and not trolling.

If you're on a simulator it's because the intent is to earn subscription revenue. They operate with the intention of NOT paying out. They are operating a subscription service in which 100% of their revs are in "selling the dream" to you pikers.

Interested skeptics wouldn't enter their CC digits if there wasn't some superficial legitimacy to the product. Sure thing, Bro! We hook you up with an FCM! The fact that they are offering access to an unregistered prop-firm should give you pause. What recourse do you have as a co-conspirator?

There are a million+ methods to program the sim-feed to make it unprofitable.

Do you think that Ryan Masten or whatever was on the up and up while running this outfit? You don't think he cut his teeth on this scam before offering the Israeli product? He was running the binary scam shop while running Earn2Trade. That's not in dispute.

It's analogous to unregulated online video poker, 21, etc. Share of the profits they generate in their trading activities? IF they are sim-trading when ostensibly "funded" then there are no profits to share. WTF dude, insert critical thinking >here<.

It's binary. If they are sim throughout, from combine to "funded", then it's a scam. If they are unregulated it's a scam. It's a scam.

You sir are the ideal candidate.
 
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destriero said:
If you're on a simulator it's because they don't have adequate funding.
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I disagree. There’s no point for these companies to support real trading operations, which is costly, when they know 98% will fail within a year. It’s a way to filter out gamblers at low cost. Once a person passes their tests, he/she will get a shot with prop firm. I don’t know for a fact what they do, but it would make sense.

BTW, as far as I am concerned, if a person passes the tests, he/she had accomplished something meaningful REGARDLESS if they get funding or not! At the least, it’s a confidence booster necessary to continue the journey. Should be worth every penny.
 
If "funded traders" are on sim then the goal of the firm is to bust the traders as soon as is humanely possible. Sim = trading AGAINST the House. Jesus.
 
Well I was being sarcastic when I said why does it matter because of course I KNOW WHY IT F’ING MATTERS

but Thank you for detailing for all as I preferred that you post this

destriero said:
Are your for fucking real? WHY DOES IT MATTER?

OK, I'll assume that you're genuinely just stupid and not trolling.

If you're on a simulator it's because the intent is to earn subscription revenue. They operate with the intention of NOT paying out. They are operating a subscription service in which 100% of their revs are in "selling the dream" to you pikers.

Interested skeptics wouldn't enter their CC digits if there wasn't some superficial legitimacy to the product. Sure thing, Bro! We hook you up with an FCM! The fact that they are offering access to an unregistered prop-firm should give you pause. What recourse do you have as a co-conspirator?

There are a million+ methods to program the sim-feed to make it unprofitable.

Do you think that Ryan Masten or whatever was on the up and up while running this outfit? You don't think he cut his teeth on this scam before offering the Israeli product? He was running the binary scam shop while running Earn2Trade. That's not in dispute.

It's analogous to unregulated online poker. Share of the profits they generate in their trading activities? IF they are sim-trading when ostensibly "funded" then there are no profits to share. WTF dude, insert critical thinking >here<.

It's binary. If they are sim throughout, from combine to "funded", then it's a scam. If they are unregulated it's a scam. It's a scam.

You sir are the ideal candidate.
More...
 
qlai said:
I disagree. There’s no point for these companies to support real trading operations, which is costly, when they know 98% will fail within a year. It’s a way to filter out gamblers at low cost. Once a person passes their tests, he/she will get a shot with prop firm. I don’t know for a fact what they do, but it would make sense.

BTW, as far as I am concerned, if a person passes the tests, he/she had accomplished something meaningful REGARDLESS if they get funding or not! At the least, it’s a confidence booster necessary to continue the journey. Should be worth every penny.
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Bullshit. 1. Offering the product to the ppl that blow-out would be a bit too obvious. There has to be some superficial legitimacy. As in they are not e-Toro or whatever. Their marks understand that the E-Mini trades at the CME which requires an FCM; or in this case the scam, unregulated "prop firm."

2. You've accomplished nothing on sim. Further, you could have opened a demo account at IB or TDA and followed their bankroll mgmt.
 
StockTrader100k said:
Well I was being sarcastic when I said why does it matter because of course I KNOW WHY IT F’ING MATTERS

but Thank you for detailing for all as I preferred that you post this
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You outlined your position that "as long as they pay timely..."

You think that I am concerned with what Earn2Trade will do? Bring it. I am just pissed enough to pursue this with regulatory.
 
Yes —my whole post was sarcastic including “as long as they pay timely”



destriero said:
You outlined your position that "as long as they pay timely..."

You think that I am concerned with what Earn2Trade will do? Bring it. I am just pissed enough to pursue this with regulatory.
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StockTrader100k said:
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?
More...

Have you read your posts? You look the fool and now you're backpedaling and trying to save face. You are incapable of sarcasm. Retarded piker blocked.
 
qlai said:
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.
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Yah sure to save their backside nto to look after the consumer!
Regulations are there so that if you take money from people under pretext of anything and then offer a financial product to trade then you need to be scrutinized teh tarders perhaps need to have passed SEC exams etc..

"provide service with understanding that 98% of your customers will fail." LOL if that is the motive then how is it good for general consumer..? I bet these companies don't say that their motive is to see 98% fail! OMG
 
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