I gotta trade (not sim) but do you have any financial interest in the prop firm (sic)? What is the name of the prop firm? Of course they are not registered or exchange members, correct?
Earn2Trade Founder Charged With Fraud
- Thread starter LCK2000
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I gotta trade (not sim) but do you have any financial interest in the prop firm (sic)? What is the name of the prop firm? Of course they are not registered or exchange members, correct?
That is only a default for candidates, because we can't customize every single asset we offer. However, of course we can set assets at their true rates for specific contracts that candidates ask for. We address this in our FAQ here:
https://help.earn2trade.com/en/articles/2425493-what-is-the-commission-on-the-gauntlet-gauntlet-mini
Commissions are also dependent on what platform is being used. You can see the rates here on our FAQ:
https://help.earn2trade.com/en/articles/4380589-commissions-for-ninjatrader-users-live-trading
https://help.earn2trade.com/en/arti...structure-at-helios-or-on-the-livesim-account
I do think that they could've revealed this on their volition -- b4 everyone read it on a public message forum
Nightmare, yes. But I think it would have gone a long way to protecting their street cred.
Nightmare, yes. But I think it would have gone a long way to protecting their street cred.
"..Earn2Trade makes its money from the subscription fees of the examinations." sure it does becasue you have split it from the funding arm
but for general public they think that it is the same firm... and in the past it was agreed by your previous owner that there is common ownership of testing entity and funding entity! SO overall if you consider this as a single business activity real question is firms like your and similar one do they make money from fees or real profits..
is the Funding firm arms length and even if it is do you share profits? will you disclose it? and if you do then it is a very valid question if for all practical purpose the business model in it's entirety depends upon either 1) Lots of failed trader's fees or 2) finding really great traders very quickly and make money on each one of them..
The prop firm was previously under a different ownership structure but from what I understand and I'm not 100% definitive, Earn2Trade and Helios are owned by the same companies. They operate on a day to day basis separately from one another. The prop firm is not an exchange member and it is not registered.
Yes, we have never stated otherwise. We don't view this as controversial.
So he admits it.
You're selling fake lottery tickets on a street corner. I'm satisfied, thanks. I am done here.
We've been replying wherever it has been coming up. We have posted our statement and have been clear about our position.
SO a simple question if Helios and E2 T are owned by same people then the entire business activity: does it make more money by selling tests or share of trading profits ?
We are selling the opportunity to be funded by a trading firm. That trading firm provides you with an account in its company, starting capital and a majority percentage of trading profits. If you treat trading as a lottery ticket to be scratched then that is what your subscription fee will earn you. If you are a disciplined trader, you can pass and get funded, just as one of the more than 500 who have been funded in the last six months have done.