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Earn2Trade - Cheap Tactics - Be Careful - First Day Experience
I have never used Earn2Trade but I agree with their replies.
(I have used Topstep though but wouldn't have mentioned this in an Earn2Trade thread except that they were spoken of in the above post. I tried Topstep when I wanted a funding company and haven't tried any others).
Below is a screenshot of the Topstep matrix. It is the same as the E2T one in that it has a little circle on the right, with an "i" in it for Topstep but a "?" in it for E2T which brings up the tool tip.
That's it. No helpful asterix for Topstep linking you to the relevant help page, a person actually has to read down the page themselves and look at the rules and understand a scaling plan applies for the second part of the Topstep test.
Looking at the E2T site, like the Topstep site it has links below the matrix, you just have to click on them. Or you go to the comprehensive Help section and read that. Or as E2T say, you read the email which you would have received when opening the account, similar I imagine to the ones I have received from Topstep, emphasising the importance of understanding the rules and program requirements before you start trading.
The relevant information is mentioned, highlighted, linked to repeatedly from multiple different places. Launching a misleading information complaint to claim that they are trying to hide the information, mislead you and use cheap tactics is just ridiculous. Sorry if this has "triggered" anybody.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
We all have our opinions - something that you find ridiculous, I find as cheap tactics, inflexible and arrogant.
I respect your opinion and thanks for taking the time to take screenshots of one of their competitor and to go in detail to present their side.
Regarding Topstep, their customer service I found to be really good and trader friendly. I had a payment issue with them and they fixed it with an email request (at least they seemed to know they are running a business and a trader matters). Though I find their weekly loss limit rule to be prohibitive in certain regards. That said, currently I am not running anything with them but another prop firm that offers end of the day drawdown rather than trailing drawdown - that makes a huge difference in being successful.
Anyway, now that this experience is out for the traders to read - irrespective of whether they see it in the wrong or not - it will make both the traders and earn2Trade more aware.
I think another important question that is missing in this discussion is - if the trailing drawdown can be automated, if the prop firms have the ability to use various different risk algorithm's on the accounts that are providing by Rithmic - R Trader Pro then why something very basic like # of contracts allowed has not been automated to reject by earn2Trade. All the sophisticated stuff is available but not the basic check ? Think about it.
Then I found a review on TrustPilot by a user who had a very similar experience like me - on March 23rd 2021 - about 2 months back. Exactly the same issue where the user actually says - Quote -
"Other reputable prop firms like TopStep and Leeloo, have automated the rejection of orders beyond the allowable the number of contracts. Earn2Trade will make money out of your resets, if you've fat-fingered the number of contracts you're allowed to trade. There are more honest prop firms out there than Earn2Trade. They will earn your money on repetitive resets for sure!"
I am not sure if I am allowed to post an image of someone's review so I am going to refrain from doing so but I did want to bring this to other traders notice - if everything else can be automated but not the # of allowed contracts - does that not raise a red flag about the prop firms business practices ?
I am going to take a break from this now - unless more comments come through that I feel the need to answer to.
Thanks to all the traders who engaged in this post.
We are very sorry to hear that this was the final decision. We will be on the lookout for correspondence from them and will show the same product page and emails to them as well.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
Sorry, I forgot to mention - all these prop firms - Earn2Trade, Leeloo, OneUp, UProfit, Topstep - they all use the same technology from Rithmic (the actual technology provider) for their SIM/Evaluation accounts.
As in, its a deliberate decision by earn2Trade to not enable the automatic rejection of orders beyond the allowed number of contracts in Rithmic - a predatory business practice to dwindle funds from traders.
I certainly don't endorse any prop firms - you as a trader have to find your best fit but do keep this in mind when you are evaluating which prop firm to join.
