Funded account by Speed Up Trader

[traderjo]

Ryan, you may have good intentions but I hope you do understand why there is talk about hamster wheel, hiding notional funding etc regarding this industry , still in my mind there is a doubt that test fees from failed ( sometimes repeated) go towards funding few who pass ( again may not be in your company but I think the point is valid) and also I wonder why real top tier props don't do these type of things as compared to your "layer of Industry" I wish you best of luck and hope the % turns other way round and one day the selection process is automated and there would be no need for the "Test fees" model and this question will go away!

 

[Earn2Trade-Ryan]

Ryan, you may have good intentions but I hope you do understand why there is talk about hamster wheel, hiding notional funding etc regarding this industry , still in my mind there is a doubt that test fees from failed ( sometimes repeated) go towards funding few who pass ( again may not be in your company but I think the point is valid) and also I wonder why real top tier props don't do these type of things as compared to your "layer of Industry" I wish you best of luck and hope the % turns other way round and one day the selection process is automated and there would be no need for the "Test fees" model and this question will go away!

Regarding a hamster wheel, I don't think that's a concept that's instigated by the funded firm. If somebody wants to keep taking the examination we're not going to stop them from doing so. There are people who are determined to become professional traders and view this model as an effective method of achieving their goal. It's up to the individual to determine whether they would like to take it again if they fail. I truly don't see where the business or ethical issue is here.

Regarding your second point, I'm not sure I see what you are trying to say about notional funding. I think anyone who has traded understands that you don't have to fund the entire value of the contract. Furthermore, you are aware that those who trade overnight have to be entirely funded the full exchange margin, not just a small margin of it. This is perhaps the reason most of our competitors do NOT allow overnight but we in fact do!

On your third point, it's true we can't speak for other companies but the relationship between Earn2Trade and Helios is completely segregated, and Helios is even contractually obligated to pay Earn2Trade for traders it takes on.

On your fourth point, I don't know what you consider top tier prop firms but many prop firms run similar programs where they provide paid tests, or paid education to prospective candidates before hiring them. Paying for mandatory education or paying for a test to determine placement seems ethically neutral to me. If you want education you can pay for it. If you want to take a test you can pay for it.

Of course there are firms that require many years of proven trading experience and will hire candidates who have that proven track record. That's a legitimate business model, and Helios also offers to recruit candidates who can show a proven track record and says so on its website. However, it seems strange to dismiss a business model that offers opportunity to those who don't have such experience. The pursuit of a business model that isn't offered by competitors doesn't for any reason disqualify said business model.

 

[traderjo]

Regarding a hamster wheel, I don't think that's a concept that's instigated by the funded firm.
LOL
It is the term used to showcase the "questionable" side of this model by people who can see through all the marketing hype by many copy cat and the pioneers

reg other true props
I guess you have not heard of these!
any way...

https://www.optiver.com/ap/en/job-opportunities
https://www.flowtraders.com/careers
https://www.tibra.com/careers/
https://propex.com.au/trainee-traders
https://www.citadel.com/careers/
https://b2tradinggroup.com/jobs/
https://www.janestreet.com/join-jane-street/
http://chicagotrading.com/careers
Schneider Trading
http://www.transmarketgroup.com/tmg-university/

Any way my posting was about overall industry not just your company

 

[Earn2Trade-Ryan]

Regarding a hamster wheel, I don't think that's a concept that's instigated by the funded firm.
LOL
It is the term used to showcase the "questionable" side of this model by people who can see through all the marketing hype by many copy cat and the pioneers

reg other true props
I guess you have not heard of these!
any way...

https://www.optiver.com/ap/en/job-opportunities
https://www.flowtraders.com/careers
https://www.tibra.com/careers/
https://propex.com.au/trainee-traders
https://www.citadel.com/careers/
https://b2tradinggroup.com/jobs/
https://www.janestreet.com/join-jane-street/
http://chicagotrading.com/careers
Schneider Trading
http://www.transmarketgroup.com/tmg-university/

Any way my posting was about overall industry not just your company

I don't see the joke here. This hamster wheel idea seems like a cute way of masking what might be more better explained as either an obsessive compulsive disorder or a gambling problem on the part of the candidate. If someone cannot stop themselves from taking an examination on account of some disorder, that's not funny. If you are insinuating on the other hand that the funding firms are operating as casinos to abuse people or facilitate gambling, I have to just completely disagree with you about that. If you mean something else by hamster wheel, I'd appreciate a better description.

Regarding those props that you listed, several of them have education programs which are not clear whether or not they require payment, only that you apply. You may also have to move to join them onsite. Also many of them are Equity/ETF or Bond firms, not Futures. You are also missing that fact that many prop firms require an individual to risk some of their own capital as well. You can see that from an individual who has posted his experience here on EliteTrader:

https://www.elitetrader.com/et/thre...record-seeks-backing-prop-firms.330617/page-2

From what I see almost all of them list requirements of several years experience trading as well, or a relevant degree and required internship experience. Regardless, these seem like great companies from a cursory glance. It's great that you provided a list of these firms for people if they have either a Bachelor or Master Degree in Mathematics, or 2-5 years of proven trading experience managing a substantial sum of money. For those who do not have that background but still want to try their hand at professional trading, we are here!

 

[SpeedUpTrade-Marcello]

Ryan, you may have good intentions but I hope you do understand why there is talk about hamster wheel, hiding notional funding etc regarding this industry , still in my mind there is a doubt that test fees from failed ( sometimes repeated) go towards funding few who pass ( again may not be in your company but I think the point is valid) and also I wonder why real top tier props don't do these type of things as compared to your "layer of Industry" I wish you best of luck and hope the % turns other way round and one day the selection process is automated and there would be no need for the "Test fees" model and this question will go away!

Hey guys someone just sent me this thread figured I'd respond personally since I am co-founder. First and foremost traderjo I can assure you it isn't a scam. We did quite a bit of volume last year and Jan & Feb of this year we funded 51 traders.

 

[SpeedUpTrade-Marcello]

Funny video ... "It's not your system or your discipline ... You simply need more money" lol

It's $300 month Plus data (and who knows what else) 15 days and no minimum number of trades is too loose of requirements.

Why not simply use a free paper trading account and do the challenge for (almost) free?

If you must pay, then there's a very helpful sponsor here @Earn2Trade-Ryan.

This is actually incorrect @qlai we charge must less than what you are stating. There are costs involved with having people taking tests and verifying the results. If you want to trade someone else's money for free feel free to ask your father for $100,000 I'm sure he would be happy to do that for you. Based on the fact that you tagged Mr @Earn2Trade-Ryan assuming the failure rate that he passed is just roughly 21% our test is less than half the cost.

Great work on your advertising by the way @Earn2Trade-Ryan everywhere I go online your ads are plastered everywhere. Best of luck to you.

 

[qlai]

There are costs involved with having people taking tests and verifying the results.

I never said you are over-charging (the number came from your website for 100k account) ... I welcome anyone who can legitimately fund traders. I think you should address Robert's comments instead.

 

[SpeedUpTrade-Marcello]

I never said you are over-charging (the number came from your website for 100k account) ... I welcome anyone who can legitimately fund traders. I think you should address Robert's comments instead.

There are smaller accounts which are not as much. @Earn2Trade-Ryan responded to those correctly. Just because your in the futures business doesn't mean that you have to be registered with the NFA. I'd refer you back to his response. Best of luck to you in your trading.

 

[caacapital]

Regarding a hamster wheel, I don't think that's a concept that's instigated by the funded firm.

I've went through 3 of the funding companies got funded by 2 of them I reviewed the ones that I took listing pros and cons. Though I cant verify that your actually getting a real account or at the very least getting paid when you make money once funded with earn2trade they have the best criteria over the others(TST and the like the main advantage is there is no trails stop this is a huggggge deal).

If we are being honest trading in general is a questionable business model. Going up or down is 50% but your profit wont reflect this. You dont naturally have an edge in trading even if you were going for 1 tick targets and 1 tick stops you will find your profit will not reflect a 50/50 chance(fees remove that 50% you would see in a coin flip). Trading is against human nature your fighting against your natural instincts constantly. Earn2Trade in this tread admits they're business model is fees and education most will not pass just as most will not make money in the markets(see my example above of reasons why). The best way to look at this is to get your emotions right in my opinion more than likely you WILL spend more than your funding amount in the end but more than likely it will still be cheaper than going directly to the market without a real edge.

Now with speedup I wouldn't waste my time with them unless your a scalper or just want to gamble they are the same as oneup trade intraday trailing stops on unrealized profits so if your not a scalper there is literally no advantage over TST or even oneup. The cost is high as TST and the rules are as bad as Oneup Trader. I heard they use TT though so they are likely handing out accounts but the rules are not in your favor at all.

 

[qlai]

Now with speedup I wouldn't waste my time with them unless your a scalper or just want to gamble they are the same as oneup trade intraday trailing stops on unrealized profits so if your not a scalper there is literally no advantage over TST or even oneup.

Sorry, I'm confused. You are describing them as though they force you to trade a certain style. What trailing stops? Are you talking about their education?