Earn2Trade Review
Position in Rating | Overall Rating | Trading Terminals |
22nd  | 2.0 Overall Rating |  |
Proprietary trading firms give traders a unique chance to trade with the firm's capital. These firms often look for skilled individuals to manage their money. Earn2Trade is one such company that offers an educational route to help you become a professional trader with a proprietary trading firm.
In Earn2Trade, you get to use a trading simulator. This simulator allows you to practice and prove your skills. The experience can lead you to trading with real capital, giving you a potential career in trading.
As an expert trader, I've spent time exploring what Earn2Trade has to offer. I've also sifted through numerous customer reviews. In this review article, we'll break down the pros and cons of using Earn2Trade. From the trading platforms to evaluation processes, you'll get the information you need to decide if Earn2Trade is right for you.
Also Read: Prop Trading: What Is It & How Does It Work?
What is Earn2Trade?
Earn2Trade is a U.S.-based educational platform founded in 2017, with its headquarters in Wyoming. The company specializes in preparing traders for success in the futures market. Earn2Trade offers a hands-on experience with virtual trading simulations, primarily through two programs: the Trader Career Path and the Gauntlet Mini.
After completing the monthly subscription and meeting performance criteria, traders have the opportunity to collaborate with Helios Trading Partners or Appius Trading Limited. These partnerships allow traders to manage funded trading accounts.
The company offers comprehensive learning courses aimed at transforming retail traders into professionals. It also provides them virtual accounts to practice trading futures. Those who excel under specific trading guidelines are awarded access to capital ranging from $25,000 to $200,000.
Earn2Trade has three rate plans, with fees varying from $90 to $429. The price structure aims to accommodate different levels of trading experience and financial capacity.
Advantages and Disadvantages of Trading with Earn2Trade
Advantages
DisadvantagesBenefits of Trading with Earn2Trade
One of the main perks I found after trading with Earn2Trade is the low entry cost. With just a $90 subscription fee, you're given the tools and platform to start your trading journey. This makes it accessible for traders who may not have a lot of capital to start with.
The quality of education is another significant benefit. Being trained by professionals who are approved by the National Futures Association (NFA) gives you a reliable and reputable learning experience. It's like having an expert mentor guide you through the complexities of the futures market.
I also appreciated the access to free trading platforms and analytics. These tools are essential for any serious trader and can be costly if sourced independently. Earn2Trade offers these resources as part of their package, eliminating the need for additional investment in software.
Trading on the Chicago Mercantile Exchange (CME), one of the world's largest futures exchanges, is another advantage. This global exposure can open up more opportunities and offer a diverse range of trading instruments.
The profit-sharing scheme at Earn2Trade is quite favorable to the trader. They allocate 80% of the profits to you, while the firm only takes a 20% cut. It's a win-win situation where both parties are incentivized to perform well.
Earn2Trade Pros and Cons
Pros
- Clear progression ladder.
- Access to ample learning resources.
- Includes Level 2 data.
- Funded traders exempt from monthly charges.
Cons
- Not beginner-friendly.
- No Forex market support.
Difficulties Met by the Traders Who Participated in the Brokers Challenge
Trading Hours Constraint
Traders must operate within specific cash hours, with the market close occurring from 3:10 pm to 5:00 pm Central Time (CT). This limitation can be inconvenient for those in different time zones or those who prefer trading at different hours.
How to Overcome the Difficulty
To adapt, traders should adjust their schedules to align with these market hours. Utilizing trading alerts and setting reminders can also be effective in managing time.
No Overnight Trading
Earn2Trade doesn't allow overnight trading, which can be a setback for traders who rely on this strategy.
How to Overcome the Difficulty
Traders should focus on intraday trading strategies that are more compatible with Earn2Trade's trading hours. Researching and back-testing these strategies can help in becoming proficient at day trading.
Unique Progression Ladder
The progression ladder is different for each account type, making it a challenge to adapt quickly, especially for beginners.
How to Overcome the Difficulty
Thoroughly studying the progression ladder for your account type can provide a clear roadmap for success. Take the time to understand the milestones and requirements.
Daily Subscription Calculation
Earn2Trade calculates the subscription daily, including weekends and holidays. This can eat into the subscription period unexpectedly.
How to Overcome the Difficulty
Be aware of this policy when initiating your subscription. Consider starting your contract on a business day and plan your trading activities carefully to make the most out of the subscription period.
Risk of Restart
Exceeding the daily loss limit in the live account means starting over with a new evaluation and Trader Career Path.
How to Overcome the Difficulty
Strict risk management is crucial. Set stop-loss orders and daily loss limits to keep your account in good standing. Be vigilant in monitoring your trades to avoid restarting the process.
Earn2Trade Customer Reviews
Earn2Trade currently holds a 4.7-star rating on Trustpilot, indicating a generally positive reception from its user base. Customers often highlight the platform's efficient customer service, with quick and polite problem resolution. Many users also note that trading with Earn2Trade has helped them maintain consistency and gain valuable experience. However, there are criticisms pointing to the platform's strict conditions, with some users even questioning the legitimacy of the trading tests.
Earn2Trade Fees and Commissions
When you trade futures with Earn2Trade, you'll encounter various types of fees and commissions. Firstly, you'll have to pay exchange fees, which are the costs associated with executing trades on specific exchanges. Additionally, the National Futures Association (NFA) imposes a fee of $0.02 per trade.
Connection to Rithmic will set you back $0.10 per trade, and using the trading platforms also comes at a cost. Futures Commission Merchant (FCM) fees are also part of the deal; they amount to $0.54 for futures and $0.46 for micro futures.
Then there's the monthly market data fee, which is $105. This fee is for transferring market data to your trading platform. If you opt for the Gauntlet package, it’s a one-time subscription fee of $429. For those choosing the Gauntlet Mini, the monthly fees range from $150 to $350, depending on the specific plan you choose.
Account Types
After testing the different account types at Earn2Trade, I can provide some clear insights into what each offers:
Trader Career Path
This rate plan is designed for traders to progressively hone their skills and increase their account balance. You start with an ‘Evaluation' account, featuring a virtual deposit of $25,000. If you trade successfully, you move up the ladder to accounts like ‘Junior LiveSim,' ‘Junior Live,' ‘Intermediate Live,' ‘Advanced Live,' and finally, ‘Senior Live.'
The virtual deposit increases as you ascend the levels, maxing out at $200,000 for Senior Live accounts. The monthly subscription for this path is usually $150, but it can go down to $90 during special offers.
Gauntlet Mini
Here, you trade with virtual capital ranging from $25,000 to $150,000. Meet the trading conditions for 15 consecutive days, and you gain access to real funds equal to your virtual deposit. The monthly payments for Gauntlet Mini range from $150 to $350, depending on the virtual capital provided.
Gauntlet
In this account type, you are required to successfully trade with virtual funds for 60 days. Manage that, and you'll get a real account with $25,000. Once you earn $5,000, you become a partner in a limited liability company. The one-time subscription fee for the Gauntlet account is $429.
How to Open Your Account
- Visit Earn2Trade's official website.
- Go to the Products menu to see available services.
- Choose a service you want by clicking on it.
- Confirm your selection by clicking ‘Enroll Now.'
- Pick the type of account you want.
- Complete the registration form.
- Create an account using your email and password.
- Sign in to your new account.
- Choose a payment method for the subscription.
- Review your trading statistics in the user account.
- Connect to the trading platforms available.
Earn2Trade Customer Support
Based on my experience, Earn2Trade offers a range of customer support options to assist traders. You can reach out to their support team through social media networks, email, or even via live chat.
In addition to these communication channels, they offer educational resources like webinars and tutorials. These are beneficial for those looking to interact directly with expert traders and deepen their understanding of the platform and market.
Earn2Trade also supports an active Discord community. This allows users to communicate directly with Earn2Trade staff, fostering a sense of community and quick problem-solving.
For self-help options, they offer instructional blogs and a Frequently Asked Questions (FAQ) page on their website. These resources are helpful for resolving common issues or questions you may have while using the platform.
Advantages and Disadvantages of Earn2Trade Customer Support
Contact Table
Security for Investors
Withdrawal Options and Fees
At Earn2Trade, the process of withdrawing money is handled by the proprietary firms that provide traders with capital. Withdrawal requests are processed only on Tuesdays. To ensure timely payment, you must submit your application via email before 2:00 PM on the preceding Friday.
You have various withdrawal options at your disposal. You can withdraw funds to a bank card in USD, through a bank transfer, or via digital wallets like PayPal, Revolut, Payoneer, and Wise. Cryptocurrency withdrawals are also an option.
The minimum withdrawal amount is set at $100. If you withdraw $500 or more, the proprietary firm waives the withdrawal fee. However, it's important to note that external charges may apply, depending on the method you choose. For withdrawals under $500, a $10 fee is applicable per transaction.
What Makes Earn2Trade Different from Other Prop Firms
One standout feature of Earn2Trade is its comprehensive educational platform aimed at training traders for futures market success. Unlike many other prop firms that merely offer capital, Earn2Trade equips traders with valuable knowledge through courses, webinars, and tutorials. Their training programs are designed to transition retail traders into professionals.
Another distinguishing aspect is the Gauntlet Mini and Trader Career Path options. These funding paths come with virtual trading simulations and progression ladders. They provide not just capital but also a structured path for traders to grow their skills and move on to higher trading limits.
Also noteworthy is their partnership options after successful completion of the trading exam. Upon passing, traders can get access to funded accounts through partnerships with Helios Trading Partners or Appius Trading Limited. These partnerships open doors for retail traders to operate with substantial capital, ranging from $25,000 to $200,000.
Lastly, the flexibility in rate plans adds value for traders of different budget ranges. With subscriber fees ranging from $90 to $429, Earn2Trade offers affordability and flexibility that can be hard to find in other prop firms.
How Can Asia Forex Mentor Help You Pass Earn2Trade's Evaluation?
As the founder of Asia Forex Mentor, I started the platform back in 2008 to help people master forex trading. From humble beginnings teaching friends, we've expanded into a vibrant community, offering a comprehensive course known as the AFM Proprietary One Core Program. This program is designed to help traders construct a robust trading system, deeply understand forex markets, and manage trading accounts effectively.
My course includes 26 full lessons covering over 60 subtopics, all supported by high-quality online videos. Every lesson contains real-world examples and interpretations that I've hand-picked to ensure the content is not only educational but also practical. It's this thoroughness and attention to detail that has attracted trading companies and banks to seek my expertise in training their teams.
When it comes to passing Earn2Trade's evaluation, the One Core Program stands out as an exceptional training resource. By equipping you with a deep understanding of market analysis and risk management, it positions you well for success in Earn2Trade's rigorous evaluation process. Whether you're a beginner or a seasoned trader, Asia Forex Mentor is designed to offer a low-risk, yet comprehensive pathway to trading mastery.
Our Journey at Asia Forex Mentor
Over the years, Asia Forex Mentor has become a beacon for aspiring traders across various sectors. From retail traders to professionals in banks and investment firms, I've had the privilege of witnessing the incredible journeys of many. Some of my students have even moved up to become full-time forex traders and fund managers.
The One Core Program encapsulates the essence of my years of experience and offers a holistic approach to forex trading. Within this comprehensive course, I cover a multitude of topics. These range from bar-by-bar backtesting to trading psychology and even maintaining trading diaries.
Unique offerings like the ‘set-and-forget' strategy and an exclusive auto stop-loss tool are also part of the curriculum. Furthermore, I break down complex concepts like differentiating between large and small stop-loss levels.
To make it accessible for all, the One Core Program comes with a seven-day free trial. The full course is available for a one-time fee of $997. However, for those who are already convinced of its value and are eager to start immediately, I offer a direct price of $940, allowing you to bypass the trial period.
Also Read: Blue Guardian Review 2024
Conclusion: Earn2Trade Review
Earn2Trade offers a comprehensive trading education platform that can be a game-changer for many aspiring traders. With its structured progression ladders and a variety of account types, it provides traders the opportunity to build and hone their skills. It's particularly well-suited for those who are serious about making a career in trading.
However, while it scores high on educational content and customer support, it's essential to note a few limitations. The customer support is not available during weekends, and the platform does not provide licensing or regulatory data. These are points you might want to consider while making your decision.
Earn2Trade Review FAQs
Is Earn2Trade Suitable for Beginners?
Yes, Earn2Trade is beginner-friendly and offers a range of educational resources.
Does Earn2Trade Offer Customer Support on Weekends?
No, customer support is not available during weekends.
Is Earn2Trade a Regulated Platform?
Earn2Trade is not a financial services company; it's an educational platform. Therefore, it does not require regulatory licensing.
