Earn2Trade Founder Charged With Fraud

Earn2Trade said:
The prop firm pays out the profits and the prop firm does not take positions against traders at any point. The LiveSim is carried out over a live Rithmic feed. It mimics, but cannot completely simulate live trading. It is merely an option for those candidates who have passed the examination and are eager to get funded, and does not and cannot replace trading on a live brokerage account.

No candidates are forced to participate in the LiveSim. They can at their choosing opt to wait until the brokerage accounts are set up.
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How about an update on this? I read somewhere someone is already waiting over 3 months?

It seems like something sketchy is going on here ...
 
What kind od update do you want (other than heresay)
The Gov't and regulatory bodies will issue updates as they see fit.
Or, you can go to those sites and get the latest greatest.
 
FlashGordon said:
What kind od update do you want (other than heresay)
The Gov't and regulatory bodies will issue updates as they see fit.
Or, you can go to those sites and get the latest greatest.
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I don't see how your reply is relevant to my question? My quote wasn't about the charges.

E2T has been saying they are going to work with a new prop firm for over 3 months now, there are traders that passed the evaluation and are waiting for over 3 months by now. There were 0 updates the past 3 months, all they said is "just 2 more weeks or so".

That is the kind of update i want ...
 
On the other futures forum in the AMA thread with the E2T director of support, someone said they were told 1st week of February recently. But no specific hard date.
 
DevBru said:
How about an update on this? I read somewhere someone is already waiting over 3 months?

It seems like something sketchy is going on here ...
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Hi DevBru!

We are announcing the new partnerships this month. I can assure you, nothing sketchy, and you will see from the respectable partners we'll show you.

As far as I hear from the new prop firm, it isn't exactly easy to set something like the environment we need up on a short notice with a brokerage. Not only are there a large number of people that need to be processed daily, spun through the FCMs compliance, from a multitude of countries, but the technical aspect of monitoring and margining these accounts also takes extensive setup, and more importantly testing, to make sure that traders have a swift and convenient experience, the brokerage has a happy compliance and risk departments and the prop firm feels safe with their money. These are just the technical and practical aspects, then think about negotiations on cost, commissions, who does what and where responsibilities lie. These took some time.

When all of this is done and settled, if you think about it, if you storm out of the gate and possibly cause a huge backlog with dozens if not hundreds of traders, the experience becomes even worse for you, the prop firm and the FCM, straining a brand new relationship and creating more discontent among the traders.

Please add to that a holiday and COVID, which, I understand people hate as an excuse, nonetheless it exists.

Believe me, nobody hates this interim period more than Earn2Trade, and we don't like seeing our traders in this limbo. We tried to present an opportunity with the LiveSim and many have used and profited well, especially in December from that solution. But we'd rather risk a bit of ill feeling because of the wait for a while, than rush into something that crashes down on us on week 1.
 
Earn2Trade said:
Hi DevBru!

We are announcing the new partnerships this month. I can assure you, nothing sketchy, and you will see from the respectable partners we'll show you.

As far as I hear from the new prop firm, it isn't exactly easy to set something like the environment we need up on a short notice with a brokerage. Not only are there a large number of people that need to be processed daily, spun through the FCMs compliance, from a multitude of countries, but the technical aspect of monitoring and margining these accounts also takes extensive setup, and more importantly testing, to make sure that traders have a swift and convenient experience, the brokerage has a happy compliance and risk departments and the prop firm feels safe with their money. These are just the technical and practical aspects, then think about negotiations on cost, commissions, who does what and where responsibilities lie. These took some time.

When all of this is done and settled, if you think about it, if you storm out of the gate and possibly cause a huge backlog with dozens if not hundreds of traders, the experience becomes even worse for you, the prop firm and the FCM, straining a brand new relationship and creating more discontent among the traders.

Please add to that a holiday and COVID, which, I understand people hate as an excuse, nonetheless it exists.

Believe me, nobody hates this interim period more than Earn2Trade, and we don't like seeing our traders in this limbo. We tried to present an opportunity with the LiveSim and many have used and profited well, especially in December from that solution. But we'd rather risk a bit of ill feeling because of the wait for a while, than rush into something that crashes down on us on week 1.
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Finally an explanation, thank you.

Respectable partners, so i assume it won't be new companies set up by E2T owners or something like that?

Are funded traders still going to be partner in the prop firm or will the way the whole system used to work change as well?
 
They say they have 40% off but they say will still charge you the 300$ something whatever that is not the point i am trying to make... hahaha their 100k account which is actually 3500$ lets you trade up to 12 contracts.... hahaha and its all demo account. I have lost 3500$ with just one contract on crude before. It's a rouse to let newbies fall for it. Even one contract is too much for a 3500$ account. Go open a demo account and trade for years. Dont pay some company money for what you can do for free. Demo trade for years, go to work, work hard. When you see your demo account consistently rising.. then just open an account with a futures broker or one of these combine companies.
 
DevBru said:
Finally an explanation, thank you.

Respectable partners, so i assume it won't be new companies set up by E2T owners or something like that?

Are funded traders still going to be partner in the prop firm or will the way the whole system used to work change as well?
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The brokerages that the new prop firm works with will be very recognizable household names in the industry. Regarding the partnership status, we will release updates on that soon.
 
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