NexusFi: Find Your Edge


Home Menu

 





Earn2Trade - Orianna Foucault (Director of Support) - Ask Me Anything (AMA)


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Earn2Trade with 172 posts (247 thanks)
    2. looks_two emini2000 with 30 posts (20 thanks)
    3. looks_3 Big Mike with 25 posts (64 thanks)
    4. looks_4 BertV with 23 posts (30 thanks)
      Best Posters
    1. looks_one Big Mike with 2.6 thanks per post
    2. looks_two Earn2Trade with 1.4 thanks per post
    3. looks_3 BertV with 1.3 thanks per post
    4. looks_4 emini2000 with 0.7 thanks per post
    1. trending_up 239,358 views
    2. thumb_up 693 thanks given
    3. group 1,068 followers
    1. forum 631 posts
    2. attach_file 20 attachments




Closed Thread
 
Search this Thread

Earn2Trade - Orianna Foucault (Director of Support) - Ask Me Anything (AMA)

  #381 (permalink)
 SethP 
Jackson
 
Experience: Intermediate
Trading: ES, NQ
Posts: 3 since Apr 2019
Thanks Given: 7
Thanks Received: 12

Can someone please explain to me how the firms actually benefit from providing "live sim" and offering the profits to the trader in real money?

Is this simply a matter of saving money on not having to fund the traders that blow up their sim accounts and passing the savings on to the profiting traders?


Can you help answer these questions
from other members on NexusFi?
Pivot Indicator like the old SwingTemp by Big Mike
NinjaTrader
REcommedations for programming help
Sierra Chart
Exit Strategy
NinjaTrader
Increase in trading performance by 75%
The Elite Circle
How to apply profiles
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Just another trading journal: PA, Wyckoff & Trends
33 thanks
Tao te Trade: way of the WLD
24 thanks
My NQ Trading Journal
14 thanks
HumbleTraders next chapter
11 thanks
GFIs1 1 DAX trade per day journal
11 thanks
  #382 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 647 since Apr 2015
Thanks Given: 2,347
Thanks Received: 1,057

Thanks, @WoodyFox .

So, if that clause you've highlighted covers the situation being discussed above, does it follow that all the prop firms letting traders in similar circumstances not pay "professional" level data feeds are running some kind of fiddle, and CME either lets them get away with it, or doesn't know about it? Or is there some other explanation I've failed to appreciate (always possible)?

Thanked by:
  #383 (permalink)
 
Earn2Trade's Avatar
 Earn2Trade 
 
Posts: 201 since Jul 2018
Thanks Given: 9
Thanks Received: 299


I have already answered this question, please check below:


Quoting 
The CME charges $105/month/exchange/session if your status that you self-certify is "professional", which as a part of a prop firm you qualify as. For a single session (1 login), the cost for one exchange is $105. If you need two concurrent logins, you'll be charged $210 for that same exchange per month. I don't want to continue with the example, you understand how the math adds up. I just want to add that the calendar month is of course, unfortunately, the same cost regardless whether you started trading on the 1st or the 31st - still, the CME will charge the data provider $105, the data provider will charge the prop firm, and the prop firm will charge the trader. If you are aware of this already, I am sorry for the long-winded explanation, but based on your comment, it felt like there may have been some confusion there. The prop firm offers to have it deducted from the account balance.


Earn2Trade
www.earn2trade.com
Become a Professional Trader. Decisions That Can Change Your Life Forever.
Follow me on Twitter
Thanked by:
  #384 (permalink)
canoekoh
Chicago, IL
 
Posts: 70 since May 2018
Thanks Given: 56
Thanks Received: 98


Earn2Trade View Post
I have already answered this question, please check below:


this is for live accounts. the CME does not charge $105/exchange/month for a SIM account.

this is why the live SIM account provided by Topsteptrader for their live funded traders does not charge any data fees.

this is also why Oneuptrader does not charge any data fees in their live accounts b/c they are known to keep their newly-funded live traders on a SIM account until they have proven profitability.

idk if you're deliberately trying to be obtuse but the point everyone here's been making is why you're the only funding company to charge $105/exchange/month on a live sim account when this is not being charged by the CME.

this is obviously why TST and OUT can offer free exchange fees on their live sim accounts. if, according to your logic, CME was charging these exchange fees for even livesim accounts, that would mean TST/OUT are taking a $420/month loss on each funded trader on livesim. that is clearly not true.

in case you're still confused, we're not talking about the SIM accounts in the Gauntlet or Gauntlet mini. we're referring to the livesim option you're currently offering those who've passed the Gauntlet mini and don't want to wait until prop firm setup is complete to move into a live (not livesim) account with real fills.

the fact is, you're just making excuses trying to make this out to be something outside of E2T's control by blaming the CME when the CME absolutely does not charge $105/exchange/month for a SIM account.

Thanked by:
  #385 (permalink)
TradingThomas
Las Vegas Nevada USA
 
Posts: 18 since Sep 2018
Thanks Given: 12
Thanks Received: 21

This year I took a break from trading for a few months, but CME data fees (Non-Professional) were still deducted from my live account. The following exchange I had with AMP Futures Support would indicate that the CME does charge for paper trading accounts. (Names have been redacted and I have no affiliation with Earn2Trade.)


Thanked by:
  #386 (permalink)
 
Earn2Trade's Avatar
 Earn2Trade 
 
Posts: 201 since Jul 2018
Thanks Given: 9
Thanks Received: 299


canoekoh View Post
this is for live accounts. the CME does not charge $105/exchange/month for a SIM account.

this is why the live SIM account provided by Topsteptrader for their live funded traders does not charge any data fees.

this is also why Oneuptrader does not charge any data fees in their live accounts b/c they are known to keep their newly-funded live traders on a SIM account until they have proven profitability.

idk if you're deliberately trying to be obtuse but the point everyone here's been making is why you're the only funding company to charge $105/exchange/month on a live sim account when this is not being charged by the CME.

this is obviously why TST and OUT can offer free exchange fees on their live sim accounts. if, according to your logic, CME was charging these exchange fees for even livesim accounts, that would mean TST/OUT are taking a $420/month loss on each funded trader on livesim. that is clearly not true.

in case you're still confused, we're not talking about the SIM accounts in the Gauntlet or Gauntlet mini. we're referring to the livesim option you're currently offering those who've passed the Gauntlet mini and don't want to wait until prop firm setup is complete to move into a live (not livesim) account with real fills.

the fact is, you're just making excuses trying to make this out to be something outside of E2T's control by blaming the CME when the CME absolutely does not charge $105/exchange/month for a SIM account.

Hello Canoekoh,

I'm sorry, but I do have to reiterate here. The CME charges data fees for sim accounts as well. In fact, professionals are charged that rate on the Gauntlet programs too.

Earn2Trade
www.earn2trade.com
Become a Professional Trader. Decisions That Can Change Your Life Forever.
Follow me on Twitter
Thanked by:
  #387 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 647 since Apr 2015
Thanks Given: 2,347
Thanks Received: 1,057


Earn2Trade View Post
The CME charges data fees for sim accounts as well.


I think what's puzzling your current and prospective customers here, Orianna, is the undeniable reality that you're charging for something TopStep and OneUp aren't charging for.

I appreciate, of course, that you can't reasonably be expected to comment on other firms' policies in these circumstances ... just as I'm sure you appreciate that you have competitors who have evidently found a way of resolving this issue that you haven't found.

I accept that you have, as you put it, "already answered that question", but it's apparent to all concerned that you haven't answered it in a way that satisfies your customers and potential customers.

Maybe there's simply no more you can do about that, but that would be a shame (and clearly result in loss of potential business for you).

Obviously nobody's alleging for a moment that you're pocketing extra fees and not passing them on to CME, but why do you think this issue's turned into such a problem for E2T, when it clearly hasn't for so many of your competitors?

Thanked by:
  #388 (permalink)
 
phantomtrader's Avatar
 phantomtrader 
Reno, Nevada
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader
Trading: ZN, ZB, CL
Frequency: Daily
Duration: Minutes
Posts: 588 since May 2011
Thanks Given: 217
Thanks Received: 985


Tymbeline View Post
I think what's puzzling your current and prospective customers here, Orianna, is the undeniable reality that you're charging for something TopStep and OneUp aren't charging for.

I appreciate, of course, that you can't reasonably be expected to comment on other firms' policies in these circumstances ... just as I'm sure you appreciate that you have competitors who have evidently found a way of resolving this issue that you haven't found.

I accept that you have, as you put it, "already answered that question", but it's apparent to all concerned that you haven't answered it in a way that satisfies your customers and potential customers.

Maybe there's simply no more you can do about that, but that would be a shame (and clearly result in loss of potential business for you).

Obviously nobody's alleging for a moment that you're pocketing extra fees and not passing them on to CME, but why do you think this issue's turned into such a problem for E2T, when it clearly hasn't for so many of your competitors?

How do you know that the fee actually goes to the CME and not in the pocket of EtoT? Just curious because these types of firms seem to have different policies.

Thanked by:
  #389 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 647 since Apr 2015
Thanks Given: 2,347
Thanks Received: 1,057


phantomtrader View Post
How do you know that the fee actually goes to the CME and not in the pocket of EtoT?


I was just clarifying/demonstrating that I'm casting no aspersions of impropriety at all, but also that this doesn't detract at all from the fact that what's being so repeatedly asked here is a perfectly legitimate and reasonable question that hasn't yet been answered to the satisfaction of E2T's customers and potential customers.

I'd be interested to hear Orianna's take on why it's turned into such a thorny issue for E2T when apparently it isn't at all for their competitors.

Thanked by:
  #390 (permalink)
 
phantomtrader's Avatar
 phantomtrader 
Reno, Nevada
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader
Trading: ZN, ZB, CL
Frequency: Daily
Duration: Minutes
Posts: 588 since May 2011
Thanks Given: 217
Thanks Received: 985



Tymbeline View Post
I was just clarifying/demonstrating that I'm casting no aspersions of impropriety at all, but also that this doesn't detract at all from the fact that what's being so repeatedly asked here is a perfectly legitimate and reasonable question that hasn't yet been answered to the satisfaction of E2T's customers and potential customers.

I'd be interested to hear Orianna's take on why it's turned into such a thorny issue for E2T when apparently it isn't for their competitors.

I understand your position. But apparently there's a disparity among these firms relating to this CME fee issue. I think you could resolve the issue yourself by contacting the CME and asking why some firms are exempt and EtoT is not. Should be a simple answer.
I still think a confirmation that the CME is actually receiving this fee is in order. There's a reason why your question isn't being addressed completely.


Closed Thread



Last Updated on March 4, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts