Earn2Trade Review: Are They Legit? My Honest Take

If you’re a trader looking to get funded, you might’ve come across Earn2Trade.

They are a popular prop trading firm but are they worth your money?

Don’t worry, I did the research for you and in the following Earn2Trade review, you’ll find the answers you’re looking for:

Earn2Trade Unique Features:

Here’s a brief overview of Earn2Trade prop firm:

Pros

• The progression ladder sets achievable growth goals.
• Accessible educational materials abound.
• Also available: Level 2 data
• Monthly fees are waived for financed traders.
• Scaling capital 

Cons

• Beginners may find it tricky
• The site does not support Forex
• Withdrawals must be $100

What is Earn2Trade?

In 2016, the instructional platform Earn2Trade was established in Wyoming, USA. It helps people make their way through the complex world of financial markets. Earn2Trade provides tailored solutions to meet the needs of novice traders, portfolio managers, and seasoned day traders.

The unique tasks on the platform, called gauntlets, test users’ ability to trade within a predetermined amount of time. Additionally, foundational courses cover important topics such as technical trading foundations, risk management, and currency trading. Lessons are designed with beginning traders in mind. 

Earn2Trade Funding Programs and Challenges: Rules and Requirements 

Earn2Trade provides a free initial evaluation to help candidates analyze their trading skills and lay the groundwork for effective risk management. Upon acceptance, candidates receive funded accounts that align with their trading objectives and criteria upon joining the proprietary trading firm. The goal of this career path is to advance traders from novice to expert status while growing the funded accounts proportionately.

For novice traders looking to demonstrate their intraday trading prowess during a 15-day competition, Earn2Trade offers the Gauntlet Mini. Participants earn funds and permission to trade on actual markets after completing the program successfully.

As part of the evaluation, the Gauntlet Mini provides a rudimentary crash education for inexperienced traders. Earn2Trade’s Gauntlet Mini enables traders to evaluate their performance using sophisticated journaling and trading data like other funded account challenges.

The Gauntlet Mini allows users to personalize the content to their liking. When they sign up, traders select the ideal account size, which ranges from $25,000 to $150,000. Candidates must demonstrate consistent profitability for at least a 15-day trading period, regardless of the size of the account.

Restrictions on the account are based on the initial capital level; these include daily loss caps, end-of-day drawdown limits, and profit targets. Monthly membership fees also grow as trading capital rises.

Earn2Trade offers traders more flexibility by including the Gauntlet as an extra evaluation option. This evaluation provides traders with the maximum degree of freedom, few restrictions, and a 60-day trial period. Participants are free to employ their trading strategies and choose stop losses, daily loss caps, and weekly restrictions.

Also read: Ment Funding Review

The objective is to maintain a 10% maximum drawdown during the 60 days and hit the 10% profit target. A $429 one-time admission fee is required for traders who want to compete in the Gauntlet, and they have 72 hours to set up an account. 

• Gauntlet Mini:
  • Account size: $50K
    • Daily Loss Limit: $1100
    • Drawdown: $2000
    • Contract Size: 6 Contracts
  • Account size: $100K
    • Daily Loss Limit: $2200
    • Drawdown: $3500
    • Contract Size: 12 Contracts
  • Account size: $150K
    • Daily Loss Limit: $3300
    • Drawdown: $4500
    • Contract Size: 15 Contracts
  • Account size: $200K
    • Daily Loss Limit: $4400
    • Drawdown: $6000
    • Contract Size: 16 Contracts
• Trader Career Path:
  • Account size: $50K scaling to $400K
    • Daily Loss Limit: $550
    • Drawdown: $1500
    • Contract Size: 3 Contracts
  • Account size: $50K scaling to $400K
    • Daily Loss Limit: $1100
    • Drawdown: $2000
    • Contract Size: 6 Contracts

What are Forex Prop Challenges?

Prop firms, or proprietary trading enterprises, use forex prop challenges as a kind of evaluation process to identify great traders and give them the chance to trade with the firm’s capital. These challenges, which consist of a set of trading guidelines and goals to follow over a predetermined period, are meant to evaluate a trader’s ability to make money while appropriately managing risk.

Typically, a forex prop challenge consists of two main phases:

1. The challenge phase: In this first stage, traders are given a demo account with a fixed balance and challenged to meet a profit target within a predetermined period, usually a month or two, while abiding by other trading guidelines and maximum drawdown constraints. This stage assesses the trader’s ability to make money within predetermined risk parameters.

2. The Verification Phase: After completing the challenge phase and adhering to the rules, traders move on to the verification phase. This phase is comparable to the challenge phase, although it usually lasts longer and could have slightly different profit goals or standards. Verifying the trader’s reliability and experience over an extended time is the aim of this step.

Upon fulfilling both phases, traders are frequently granted access to a funded account. This suggests that a portion of the prop business’s funds are allocated for the trader to manage. The trader and the prop firm split the earnings from trading this cash following a prearranged split.

Each prop business has a different cost associated with forex prop issues. This fee ensures that traders are committed to the offer and pay for the evaluation process.

The specific requirements, goals, and formats of prop challenges may vary greatly throughout companies. Traders are expected to match the following common parameters:

• Profit targets: An amount of the account balance that traders must reach in advance.
• Drawdown limits: The most daily and cumulative percentage loss that can be made from the account’s peak balance.
• Minimum trading days: The total amount of days that must be traded actively during the challenge.
• Trade style limitations: Certain companies may impose rules about trading tactics, such as prohibiting overnight holdings or high-frequency scalping.

Forex prop challenges, excluding the initial challenge charge, give me access to substantial trading capital without risking my own money. I must carefully consider the conditions of these challenges, though, as the strict standards set by the prop firms are meant to assess my trading skills, risk tolerance, and discipline.

Earn2Trade Broker: Do They Use a Reliable Platform? 

All account holders at Earn2Trade have free access to real-time data, and they can trade in the demo account using a NinjaTrader license key. Earn2Trade supports a number of the most popular futures trading platforms, such as

1. NinjaTarder is free during the evaluation period.
2. Finamark: Complimentary for evaluation and 90 days of actual trading. 
3. R | Trader & R | Trader Pro are both complimentary. 
4. Inside Edge Trader Investor RT
5. Motive Wave
6. MultiCharts
7. Bookmap
8. Photon
9. QScalp
10. QSI- Quick Screen Trading
11. ScalpTool
12. Trade Navigator
13. Volfix.net
14. Jigsaw Trading
15. ATAS Order Flow Trading
16. Sierra Chart
17. Quantower

Earn2Trade Fees: How Much Do They Charge? 

The investment options available to traders on Earn2Trade vary according to the package they choose. The monthly cost of the Trader Career Path plan is $120. The Gauntlet bundle requires a $429 one-time payment. For a lifetime membership, the Beginner Crash Course bundle can be purchased for a one-time cost of $199.20. Monthly costs for the Gauntlet Mini package range from $150 to $350, depending on the type of account selected.

To maximize the savings, it is advised to keep an eye out for Earn2Trade discount codes. It is significant to note that data fees total $105.00 per month for each exchange following the challenge phase and the acquisition of a paid trading account. It is the affiliate funding company that enforces these fees, not Earn2Trade.

When evaluating Earn2Trade’s overall cost, consider the following breakdown: The Beginner Crash Course package costs $199.20 for a lifetime membership, the Trader Career Path package costs $120 per month, the Gauntlet package requires a $429 one-time payment, and the Gauntlet Mini package offers monthly prices ranging from $150 to $350, depending on the type of trader account.

Therefore, Forex prop trading fees are the expenses related to joining a proprietary trading firm’s program, especially if it allows traders to trade the firm’s capital. For many forex prop firms, especially those that conduct challenge or evaluation programs to screen potential traders, these fees are an essential part of their business strategy. Here’s a breakdown of the types of fees that traders might encounter:

1. Costs of challenges

Traders must pay this upfront to participate in a trading challenge or evaluation program. The challenge is simply an assessment of a trader’s capacity to turn a profit while abiding by particular risk management guidelines. The trader is typically given the option to trade using the company’s funds if they are successful. Depending on the firm, the amount of the sample account offered for the challenge, and the difficulty of the challenge itself, challenge fees can vary greatly.

2. Setup or administration fees for accounts

A one-time setup fee may be imposed by certain prop firms to create and maintain a trader’s account. This charge may cover the administrative expenses related to establishing the trading infrastructure, keeping an eye on the trader’s account, and providing other backend services required before the trader may start trading.

3. Desk fees per month

Desk fees are similar to what you would pay to hire the prop firm’s resources (such as software, data feeds, and trading tools) and real or virtual premises. Certain online FX prop businesses may charge a monthly fee for access to premium trading platforms or tools; this practice is more prevalent in conventional prop firms that include physical trading desks.

4. Divided Profits

The profit split arrangement is an important financial factor in prop trading, even though it isn’t a fee in and of itself. Traders can use the firm’s capital to trade if they pass a challenge, and any profits they make are divided into a predefined ratio between the trader and the firm. Splits that benefit the trader, like 70/30 or 80/20, are common. The details of the profit split must be understood since they have a direct impact on the trader’s potential earnings.

5. Data or Software Fees

When accessing specialized trading software, real-time data feeds, or analytical tools that aren’t part of the prop firm’s base package, traders may occasionally have to pay extra costs.

6. Training or Education Fees

Additionally, some prop companies provide mentoring programs, trading workshops, and training courses. These may be compulsory or optional components of the trading program, and the cost will vary greatly according to the breadth and length of the material. 

Key Considerations

1. Value for Money: Traders need to determine whether a prop firm’s fees are reasonable given the services rendered, particularly when considering the availability of trading funds, available technology, and available support.

2. Transparency: Reputable prop businesses don’t have any hidden fees and are upfront about their price schedule. Before committing, traders should carefully read over all terms and conditions.

3. Risk: Although it may seem tempting to pay fees in exchange for the opportunity to trade with a lot more capital, traders should think about the possibility of failing the challenge and losing the money they spend.

Prop trading offers me a unique opportunity as a trader in the forex market to leverage larger sums of capital than I normally could. Understanding the price structure is essential for me when choosing the right prop firm to deal with.

Earn2Trade Proof of Payment:

Earn2Trade’s profit-sharing plan is 80/20, meaning that the proprietary firm keeps 20% of the profits while the trader receives 80%. 

Earn2Trade Customer Support: 

When assessing a trading platform, traders pay particular attention to community involvement and the caliber of customer service. Recognizing this, Earn2Trade seeks to foster a strong network of support and encourage participation from traders. Earn2Trade gives traders a variety of ways to connect and get assistance.

Earn2Trade provides prompt customer support in several ways that I find convenient. Through the Earn2Trade website’s live chat feature, I can get immediate assistance whenever I need it.

For more complicated or non-urgent situations, I can reach out to their email support. Additionally, the website has a thorough FAQ section that answers commonly asked questions regarding the platform, programs, and trading laws, which I often find helpful.

Contact Details: 

• Location: 30 N Gould St STE 4000, Sheridan, WY 82801 
• Contact Number: +1 337-606-6535 
• Email Address: [email protected]

What Makes Earn2Trade Unique? 

A unique proprietary trading firm, Earn2Trade offers an extensive educational platform to prepare traders for success in the futures market. In addition to providing money, Earn2Trade also offers a wealth of educational materials, including webinars, tutorials, and workshops. The programs are thoughtfully crafted to help novice traders advance to become proficient professionals in the field.

The Gauntlet Mini and Trader Career Path options are two of Earn2Trade’s best features. The funding choices are progression ladders and virtual trading simulations, which give traders a set framework and money to develop their skills and advance to higher trading limits.

After completing the trading exam, Earn2Trade offers me partnership opportunities as well. Through alliances with Appius Trading Limited or Helios Trading Partners, I can access funded accounts if I am a profitable trader. These partnerships provide me with considerable assets, ranging from $25,000 to $200,000.

Earn2Trade offers several price choices to suit my budgetary needs. With a variety of subscription prices from $90 to $429, Earn2Trade stands out from other proprietary firms by offering both affordability and adaptability.

Earn2Trade Reviews: What Do Their Customers Say?

Earn2Trade has a rating of 4.7 out of 5 stars on Trustpilot. It also has been reviewed by 2,130 people. 

#1. I’m glad E2T crossed my path! To pass the examination, they must adhere to extremely rigorous criteria; ultimately, following the guidelines improves your trading by helping you become a more consistent, disciplined trader. I passed after taking more than ten exams by learning from my mistakes and, of course, by using the excellent and accurate “Mother of all Losses” E2T support for questions and assistance. Many thanks, and best of luck to those traders attempting to pass. Warm regards TraderX73

#2. A fantastic company with excellent products, a user-friendly website, and prompt, effective customer service; however, the evaluation process is still a little too drawn out, and occasionally the rules are a little confusing. For instance, if you trade on an American holiday by mistake, they will cancel your evaluation rather than simply informing you that you cannot trade. There are no data or visualizations on the web interface either. However, I passed the evaluation under the previous 15-day standards; it’s currently 10 days, so maybe it continues! In any case, I advise.

#3. A fantastic company with excellent products, a user-friendly website, and prompt, effective customer service; however, the evaluation process is still a little too drawn out, and occasionally the rules are a little confusing. For instance, if you trade on an American holiday by mistake, they will cancel your evaluation rather than simply informing you that you cannot trade. There are no data or visualizations on the web interface either. However, I passed the evaluation under the previous 15-day standards; it’s currently 10 days, so maybe it continues! In any case, I advise

#4. They have no regard for the client. Even when they don’t always make things obvious, you end up getting blamed for everything. While the software and guidelines aren’t too horrible, the support isn’t receiving enough stars.

#5. To be honest, the FIFO requirement kills accounts. They forbid hedging as well, so you can’t use it in your plan, and you have to close out any open positions before opening any new ones.

Since I was not informed of any of these conditions before choosing to participate in the Gauntlett program, I am not thrilled with them.

Conclusion

Earn2Trade is an extensive platform for trading education that can be very beneficial to many aspiring traders. It is a fantastic choice for anyone looking to pursue a career in trading because of its well-organized progression routes and wide range of account options, which give traders several opportunities to improve their abilities.

It is important to recognize the limitations of Earn2Trade. On weekends, customer service is unavailable, and there are no licenses or regulatory data on the platform. When assessing their decisions, these factors should be taken into account. 

If you want to begin your trading journey, I recommend going with CTI’s Scaling Plan. Not only will you get instant funding with them but also get access to their vast selection of tools & resources.