False Advertisement with Try out firms like Top Step, One Up and Earn 2 Trade

[Earn2Trade]

Thank you all for your feedback. You are all welcome to your opinions about whether you believe the business is fair. We are always here to answer your questions, and we have been doing so for years, often responding to the same opinions, insinuations, or outright attacks on our business.

The motivation of our business is to provide a good opportunity to prospective traders, and to make money doing so. Earn2Trade makes all its money from subscription fees. The prop firms either make money on the traders they fund, or they lose money on the traders they fund. We have remarked on this point several times on this very forum. Perhaps some of our competitors hide behind the term “funded" account, while never providing a live brokerage account as an option, but we do not do that. The LiveSim or Live Account are offered equally to every trader upon passing the exam. It is their right to choose which way they want to continue their trading, just as it is their right to choose with their own competence whether the Gauntlet Mini is a good opportunity or not.

We categorically reject the consistent attempts by individuals who casually accuse our company of scamming anyone. We have a very well-articulated legal opinion guiding how the company operates. The rules and account parameters are completely transparent and made clear to everyone on the website, in welcome emails, and in the dashboard even when they are conducting the exam. We have never cheated a single individual, never withheld any payment, never committed any act of fraud, never marketed our exam as a make money scheme and we stand by our word. We are open to any feedback about how to make our company better, and through the years we have been responding to trader concerns by eliminating rules and providing a better experience for everyone.

All changes and improvements must be done with the caveat that the funding program must remain valid. As we have remarked in the past the majority of traders who get funded with the prop firms lose the company’s money. However, there are still many traders who end up very profitable and this program exists to give all traders the chance to profit in the market without risking substantial capital. We do not remain blind to the fact that trading is extremely difficult, and most traders lose money. This is not a joke, and we believe that Earn2Trade helps traders refine their skills and get funded.

You can debate all you like about whether you believe the company offers value to you. You are free to disagree about how much funding is enough, or what rules are fair. This is a free market, and this is a new business model. We appreciate all of your feedback, and we are doing our best to improve and provide the best experience for candidates searching for funding. It is not for everyone, but for those who are looking we firmly believe that we offer the best program in the market.

In the interest of providing more information to all prospective candidates, today we have added a new disclaimer to our website showing the exact percentage of traders who have passed this year to date. We added this to increase the level of transparency of our company and to inform everyone that the Gauntlet Mini is difficult, but it is achievable. You can visit our website and check the footer if you are interested to know more.

 

[Overnight]

...Earn2Trade makes all its money from subscription fees. The prop firms either make money on the traders they fund, or they lose money on the traders they fund....

(Here is the disclaimer mentioned by E2T, for those who cannot find it...)

"...As of September 1st, 2021, nineteen point eight (19.8%) of candidates have passed the Gauntlet Mini™ / Gauntlet™ examinations throughout 2021. This percentage is based on accounts passed against new accounts..."

Well, thank you for your candor on this matter. Are you saying you do not make any money on your funded traders?

There is something I am always confused by with firms like yours, and is in the following... A screencap from an acceptance offer letter you have on your website...

I am sure the specifics of that particular trader may have caused Helios to limit them to only the ES, which seems restrictive it it's own right.

But what is the hangup with allowing the overnight holds? What in the heck can happen that would provide such risk to the firm if a position is held overnight? The world does not quake and shatter when the futures market is closed for an hour? There is more quaking and shattering when the market is open for business!

 

[ph1l]

But what is the hangup with allowing the overnight holds? What in the heck can happen that would provide such risk to the firm if a position is held overnight? The world does not quake and shatter when the futures market is closed for an hour? There is more quaking and shattering when the market is open for business!

Maybe the margins would be higher for overnight holds (and result in more risk for the broker)? For example,
https://www.ampfutures.com/trading-info/margins/

 

[Overnight]

Maybe the margins would be higher for overnight holds (and result in more risk for the broker)? For example,
https://www.ampfutures.com/trading-info/margins/
View attachment 267413

As if I do not know this. I be awaiting E2T's response here.

 

[traderjo]

(Here is the disclaimer mentioned by E2T, for those who cannot find it...)

"...As of September 1st, 2021, nineteen point eight (19.8%) of candidates have passed the Gauntlet Mini™ / Gauntlet™ examinations throughout 2021. This percentage is based on accounts passed against new accounts..."

Well, thank you for your candor on this matter. Are you saying you do not make any money on your funded traders?

There is something I am always confused by with firms like yours, and is in the following... A screencap from an acceptance offer letter you have on your website...

View attachment 267412

I am sure the specifics of that particular trader may have caused Helios to limit them to only the ES, which seems restrictive it it's own right.

But what is the hangup with allowing the overnight holds? What in the heck can happen that would provide such risk to the firm if a position is held overnight? The world does not quake and shatter when the futures market is closed for an hour? There is more quaking and shattering when the market is open for business!

But what is the hangup with allowing the overnight holds?
Very simple to hold ES overnight the "Firm" has to pout up actual 11000 + on the table as compared to as low as 400 for day trading only !

 

[Earn2Trade]

(Here is the disclaimer mentioned by E2T, for those who cannot find it...)

"...As of September 1st, 2021, nineteen point eight (19.8%) of candidates have passed the Gauntlet Mini™ / Gauntlet™ examinations throughout 2021. This percentage is based on accounts passed against new accounts..."

Well, thank you for your candor on this matter. Are you saying you do not make any money on your funded traders?

There is something I am always confused by with firms like yours, and is in the following... A screencap from an acceptance offer letter you have on your website...

View attachment 267412

I am sure the specifics of that particular trader may have caused Helios to limit them to only the ES, which seems restrictive it it's own right.

But what is the hangup with allowing the overnight holds? What in the heck can happen that would provide such risk to the firm if a position is held overnight? The world does not quake and shatter when the futures market is closed for an hour? There is more quaking and shattering when the market is open for business!

Hi Overnight! Thank you for the question.

I think that you are looking at a regular Gauntlet™ offer. Normally, just like in the evaluation, the Gauntlet™ allows overnight trading. That is the default setting.
If however, the person who passed the evaluation and has shown a poor performance on trades that they kept open overnight, the funding firm may limit them to intraday. The same logic applies to the assets. This example is from a person who didn't do well trading overnight.

 

[trade2020]

while technically the E2T “regular gauntlet" does have a "revolving" fixed max drawdown - and can possibly offer you the ability to hold positions overnight if you earn a live funded acct by passing—- keep in mind folks that the regular gauntlet provides at best (if you pass) a very miniscule funding amount (a miniscule amount of funding at least in my opinion)

$429 cost - $229 cost for resets ----to get how much in potential funding ?
They say $25,000 but in my opinion the amount of funding you are actually getting in any of these types of firms is the max drawdown they give you below that starting balance. At this time --if you pass the regular gauntlet with a 2% (or less) drawdown or less you get a live account with just $2,500 in drawdown and a refund of your $429 fee (no refund on resets)--- (they also have other ones--for example if your drawdown in the evaluation is 10% (or less) you get a live account with a $1,000 drawdown but sorry no refund of the $429 (or resets) - so at that point your real net funding is $1,000 minus $429= $571 (or at least that is way I look at it)

At either end of the pass the gauntlet spectrum $1000 in funding (minus $429 initial fee you paid and any reset(s) you may have paid) - so $571 in net funding (if you didn’t have to pay for a reset) (if I understand their program and fees correctly)

or

$2500 in funding (and get initial fee refunded but no resets refunded) - $2,500 in net funding at best assuming you never paid for a reset and passed with their best trading metrics possible

either way its miniscule funding (in my opinion)

and remember you cannot pass multiple regular gauntlets and combine your funding earned from each into 1 bigger combined funded acct

Does that cost to you VS possible funding amount make $ sense?…. Paying $429 (plus any reset fees) to end up with only somewhere between $1,000 and $2500 in funding ?

Some may say yes but in my opinion it does not—especially considering there are competitors that offer better deals (in my opinion) as far as cost versus initial live acct and those same competitors also offer you the ability to pass multiple times and combine the funding from multiple passes into 1 larger acct as well as offering the ability to grow the funding by 25% every 4 months based on good results

Hi Overnight! Thank you for the question.

I think that you are looking at a regular Gauntlet™ offer. Normally, just like in the evaluation, the Gauntlet™ allows overnight trading. That is the default setting.
If however, the person who passed the evaluation and has shown a poor performance on trades that they kept open overnight, the funding firm may limit them to intraday. The same logic applies to the assets. This example is from a person who didn't do well trading overnight.

 

[Overnight]

Hi Overnight! Thank you for the question.

I think that you are looking at a regular Gauntlet™ offer. Normally, just like in the evaluation, the Gauntlet™ allows overnight trading. That is the default setting.
If however, the person who passed the evaluation and has shown a poor performance on trades that they kept open overnight, the funding firm may limit them to intraday. The same logic applies to the assets. This example is from a person who didn't do well trading overnight.

If a user holds into the close, do you then re-establish day-trading margins for the user when the market opens an hour later?

 

[Earn2Trade]

If a user holds into the close, do you then re-establish day-trading margins for the user when the market opens an hour later?

We do not re-establish day margins for any trading activity on the regular Gauntlet™.

 

[Overnight]

We do not re-establish day margins for any trading activity on the regular Gauntlet™.

So why not simply require the full initial bond requirement the exchange demands for the day, so people can hold past market close? Yes, that means trading only one or two contracts maximum on a 25K-50K, but that is what responsible futures traders should be doing anyway. It seems to me that many firms like yours designed their "trials" when markets like the ES ranged 3-5 point per day. Those days are long over.