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The prop firm is not switching FCMs, but adding a new relationship. If this is causing you trouble at the moment and the wait is becoming too long, please explain to the support at the prop firm, and they'll do their best to accommodate you immediately.
As a bit of insight, the new relationship will be announced soon, currently there are discussions with their compliance and risk. The prop firm would have liked to use the new firm, but again, if you are eager to get started, I am sure they can accommodate you immediately.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
Thanks for your quick response Orianna, it is appreciated.
Are you able to provide any more granularity regarding timeline for the new FCM relationship, aside from "soon", i.e are we talking a matter of days, a matter of weeks, or a matter of months?
Would you expect there to be any advantages with the new FCM partnership, such as more favourable commissions, better stability/reliability in trading environment / interface, improved ability to interface with a greater number of trading platforms, etc. ?
The reason the prop firm doesn't like to disclose this information (a timeline) is because there are many compliance hurdles, risk management decisions and other factors that FCMs need to take into consideration when setting up the agreement.
The relationship would have to be very similar to the other FCM's as well, since it wouldn't be fair to offer a better deal on one prop firm, but not the other - however, the exact details are not clear yet.
Again, if the long wait is a concern, please reach out and they'll set you up with the existing relationship. This should in no way put you in a disadvantageous position.
On another note, Earn2Trade is very happy to see another prop firm get another FCM account soon.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
Is there any update regarding the new FCM and are passing traders receiving live / funded accounts?
I also have another question: Once a gauntlet is passed, is it truly a funded account available for real trading, or is it a "performance account", that is actually a demo account and not interacting with a market?
Thank you for your question. We are already setting up trading accounts at the new brokerage, and accounts are trading. Expect the announcement officially on our channels and emails in a few days.
As to the accounts, I can reiterate what we have talked about on multiple channels. The LiveSim is a virtual account that you can withdraw money from. This is clear and simple, and if you choose a LiveSim, we will you give you a virtual account and not copy your trades, or any other questionable practices. You'll be trading a sim account. You can withdraw up to 80% of $5000 from the LiveSim, before you are moved to a Live account. It has its advantages, for example the short setup time and the first exchange being free.
A Live account is sending the orders to the markets through one of the brokerages we work with. If you choose to not do a LiveSim and go for live instead, you'll be trading on the market and interacting with the exchange. You will always be aware of which type of account you are trading and Earn2Trade's prop firm partners will never mislead you into thinking you are doing one, when it is actually another.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
I appreciate all the information and for your quick response. I'm recently considering funded trader programs and didn't really understand how it works once you are funded, or whether or not one is truly interacting with the markets with a live account.
Based on what you've provided, I think it would indeed make more sense (for me) to go for a SimLive account once funded while the real money market account is established. At least this way instead of waiting, I could capitalize on the time.
If you decide to select the livesim option you will have the first exchange for free, subsequent exchanges have a cost of $105 per month per exchange and will be charged to your credit card before you start trading and the end of each calendar month for the next month.
Was or is anyone currently funded with Earn2Trade?
Please share your experiences.
Thanks in advance.
PS: As some may have noticed I've grown increasingly skeptical of the entire get-funded business, but E2T strikes me as possibly the best option out there. The cheesy graphics and cheesy sales pitch is a negative, but beyond that the parameters and rules and that you're actually trading a live account are all very good compared to many of the competitors. For example: No timeline restriction on withdrawal of profits and no need to build a cushion before you can withdraw profits.
Thank you for considering our services. If you have any questions to the staff, we'd be happy to answer, otherwise we'll let the community speak as you suggested.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.