Overnight you lost it becasue they don't want to disclose the truth..Only becasue of current negative publicity this representative is on somewhat of a back foot otherwise he would have attacked all and sundry as soon as difficult questions are asked!
Earn2Trade Founder Charged With Fraud
- Thread starter LCK2000
- Start date
element of marketing in the name of the account size,
.. element of marketing in the name of the account size, LOL
SO finally you admit it .. but then why do you ( and others) need such "untrue" marketing technic
talking about real funded account ( not the trial) HOW MUCH YOU REALLY PUT ASIDE FOR the nominal 25 funded account
If you call it a 25K account there is only one meaning that the trader gets to trade a 25 k real USD account which then means
- If only day trading is allowed then with a $500 margin per ES required by FCM he/she can trade atleast 50 ES contracts
- If overnight is allowed then only 2 ES contracts ( $12000 margin per ES_
By refusing to tell the truth do you think you are enhancing your reputation? and specially when there is so much negative publicity you are getting!
In comedian Russell Peters' words BE a Man!
Who is refusing to tell the truth? I'm sorry but we reject your argument. It is not an "untrue" marketing technique. As I've stated multiple times already the firm is on the hook for all losses. So indeed, the account is effectively a $25,000.00 account for the company, and the trader is trading that account. Furthermore, the contract limitations have no connection to the account size, they are a risk management feature, so this argument is really irrelevant.
Yes, the balance displayed is shared margin, but for example when COVID hit and other firms restricted available contract size because of full margin requirements, Helios traders remained unaffected and could continue to trade normally. In addition, unlike other firms, they actually get an account that shows their actual balance in Rithmic. Other firms show $0 balance, which is not what they paid for. With regards to margin, margin changes by the FCM you use, even for day trading. For instance, if you use TD you can't even get dray trade margins unless you have more than $15,000.00.
Besides BTC futures, Helios also never restricted what's traded so your available asset list is much larger.
That is the pot calling the kettle black. You have been attacking our business model and us directly for as long as I can remember. I've answered all of your repeated questions and criticisms time and time again. Apart from questions where you ask us to expose our revenue structure or other intimate details I am not privy to, I have answered you forthrightly and honestly always. Even when you ask us for information I cannot give I tell you simply that I cannot give it to you.
Your attacks on our business model have never ceased. The unfortunate situation regarding our former co-founder, which had nothing to do with our business provides you with more fodder to dig up the same arguments you make again and again. When an individual who is unfamiliar with our business model appears, or someone raises a question, you are surely there to cast your aspersions. This representative has always been on the front foot with you traderjo.
Drawdown offered might be $1,000.00 or it might be $2,500.00. Furthermore, if the exam candidate does not successfully trade overnight positions then they would not be offered overnight trading.
You wanna know why 90% of the traders lose money - read this forum. The arrogance and entitlement is mind boggling.
How dare you charge me and try to protect yourself by limiting your risk! Dont you know I am the trader king with great track record on many demo accounts!! I demand free funded account with NO restrictions.
/s
If you ever find a boiler room to take you in with your '6 month demo returns' - wait till you see the desk fees they'll charge you. LMFAO!
How dare you charge me and try to protect yourself by limiting your risk! Dont you know I am the trader king with great track record on many demo accounts!! I demand free funded account with NO restrictions.
/s
If you ever find a boiler room to take you in with your '6 month demo returns' - wait till you see the desk fees they'll charge you. LMFAO!
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Whereas FTMO charges $540 Euros (Approx $640 USD) for a fixed $10,000 max drawdown
(no sliding scale based on your results--you pass its $10,000)
and the opportunity to grow that drawdown by 25% every 4 months
https://ftmo.com/en/scaling-plan/
10,000 Months 1-3,
qualify for increase then 12,500 Months 4-6
qualify for increase then 15,625 Months 7-9
qualify for increase then 19,500 Months 10-12
etc
So if you are a trader looking for a fixed drawdown deal you have to ask yourself:
Would you rather pay $425 for the opportunity to get $1,000 to $2,500 with no clear path showed upfront of what you need to do to increase it and how much that increase will be if you meet the criteria OR Would you rather pay $640 for the opportunity to get $10,000 and a chance to increase it by 25% every 3 months
(no sliding scale based on your results--you pass its $10,000)
and the opportunity to grow that drawdown by 25% every 4 months
https://ftmo.com/en/scaling-plan/
10,000 Months 1-3,
qualify for increase then 12,500 Months 4-6
qualify for increase then 15,625 Months 7-9
qualify for increase then 19,500 Months 10-12
etc
So if you are a trader looking for a fixed drawdown deal you have to ask yourself:
Would you rather pay $425 for the opportunity to get $1,000 to $2,500 with no clear path showed upfront of what you need to do to increase it and how much that increase will be if you meet the criteria OR Would you rather pay $640 for the opportunity to get $10,000 and a chance to increase it by 25% every 3 months
Good for them ... are they located in US and operate under US laws? - NO
Do they offer futures accounts ? - NO
You're comparing apples to oranges.
Also. This is from their About Us page :
"The idea to start the FTMO project, which was initially called Ziskejucet.cz, was conceived in 2014 in a small Prague office where a handful of young daytraders, including the three future founders, joined their forces."
Yeah unregulated "prop" shop from prague operated by 'young daytraders' ...
What's the recourse for a US person if they disappear tomorrow ?
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If E2T or Topstep (or any other US based “disappears”) then realistically what recourse do you have to get your money back
Technically yes you could hire an attorney, file a lawsuit and attempt to get money back but if you are owed say $5,000 most attorneys are not going to take that case on contingency and you would probably spend $5,000 or more (and possibly several years of litigation) on an atty retainer and hourly Atty Billings
You could possibly sue the brokerage firm that the US based firm had their accounts with. In the case of Topstep and E2T I dont know who their broker is that holds the account(s). Then the question is ---are the accounts solely in the tryout funding company's name or is your name also listed on the brokerage account statement
In the case of FTMO you could do that as well--sue the broker the account(s) are with which in FTMO's case is https://www.lmax.com/
Technically yes you could hire an attorney, file a lawsuit and attempt to get money back but if you are owed say $5,000 most attorneys are not going to take that case on contingency and you would probably spend $5,000 or more (and possibly several years of litigation) on an atty retainer and hourly Atty Billings
You could possibly sue the brokerage firm that the US based firm had their accounts with. In the case of Topstep and E2T I dont know who their broker is that holds the account(s). Then the question is ---are the accounts solely in the tryout funding company's name or is your name also listed on the brokerage account statement
In the case of FTMO you could do that as well--sue the broker the account(s) are with which in FTMO's case is https://www.lmax.com/
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You have signed contracts - then you have a recourse. Doesn't mean you'll get your money back but you can track and go after. Some company from prauge ? - forget about it.
Technically yes you could hire an attorney, file a lawsuit and attempt to get money back but if you are owed say $5,000 most attorneys are not going to take that case on contingency and you would probably spend $5,000 or more (and possibly several years of litigation) on an atty retainer and hourly Atty Billings
You could possibly sue the brokerage firm that the US based firm had their accounts with. In the case of Topstep and E2T I dont know who their broker is that holds the account(s). Then the question is ---are the accounts solely in the tryout funding company's name or is your name also listed on the brokerage account statement
In the case of FTMO you could do that as well--sue the broker the account(s) are with which in FTMO's case is https://www.lmax.com
You could possibly sue the brokerage firm that the US based firm had their accounts with. In the case of Topstep and E2T I dont know who their broker is that holds the account(s). Then the question is ---are the accounts solely in the tryout funding company's name or is your name also listed on the brokerage account statement
In the case of FTMO you could do that as well--sue the broker the account(s) are with which in FTMO's case is https://www.lmax.com