I don't see anything wrong with this business model. It's not a charity. All businesses are out to make money. As long as they meet a demand in the market, they will be in business. Evidently, there is a demand for what E2T provides and people are willing to pay for it. Better to lose the test fees than thousands of dollars of real money in the live market.
Sure there are real prop firms out there but most likely those who can't pass the funded trader test will not likely be trading with those prop firms as they either require a thousands of dollars as a "deposit" for you to leverage their funds or you better have a decent track record and pass the Series 57, which most of the time will come out of your pocket.
Most people who blame E2T likely have failed their funded trader test. Pretty much with E2T, everything is laid out upfront. There is no hidden agenda. Here is what you pay, here are the rules, and here is what happens when you pass or fail. If you can't adhere to a few simple rules, when it comes to live trading, the market will eat you alive. If you can't trade your strategy given their rules, then don't sign up. If you have no plan or no strategy, don't sign up. You will lose money. It's that simple. If you continue to give E2T your money, I'm pretty sure they will not stop you. Be accountable for yourself, manage your risk and your trades will, and maybe your trading will also start to improve. Who will you blame for your losses in the market? If you continue to give the markets your money and lose, the markets will not stop taking your money either.
As with E2T, I find they're quick to respond to issues. I had an issue with them for failing me for trade during times not permitted. I found out they had changed the economic news release times on their calendar and I had no idea when that was done but it was still seeing the previous listed times and was following that. In short, they had my account back to where it was. In another incident, I went over the number of contracts allowed (3) but I was trading the micros. I complained to them and explain how it didn't make sense for them to limit the same amount of contracts in the micros as the minis. They didn't budge but from that (and probably others feedbacks), they later changed their rules to allow 10x the number of contracts in the micros as the minis.
By the way, I did past the $100k in the minimum required time allowed.
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