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


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

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  #531 (permalink)
 Josephine268 
Las Vegas, NV
 
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Oh wow... that's not cool! I assumed that it would take no more than a few days. A month is terrible. This concerns me a lot. Would love some clarification from them here.

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  #532 (permalink)
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BumblebeeRR View Post
I passed my Gauntlet Mini around August 20th. Still waiting on a Live account to be set up, it has been a while now. I have asked for estimated time line but have not received a clear response to that question. Earn2Trade is mentioning that they are switching FCMs and still trying to finalize details.

I see from posts earlier in this thread (winter / spring 2021) that Earn2Trade was experiencing delays in setting up people with Live accounts but it sounded like for the most part that was resolved after they switched to Advantage Futures to clear trades. Does this mean that relationship with Advantage didn't work out and a new FCM is now needed?

Has anyone else who has passed the Gauntlet Mini lately experienced these delay issues? Perhaps Earn2Trade if they are monitoring could comment and provide more clarity - a ballpark estimate of when the new FCM will be up and running - and if possible, the reasons why FCMs are getting switched again?

Thank you.

Hello BumblebeeRR!

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.

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  #533 (permalink)
 BumblebeeRR 
Prince Albert SK Canada
 
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Earn2Trade View Post
Hello BumblebeeRR!

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.



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. ?

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  #534 (permalink)
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BumblebeeRR View Post
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. ?

Hello again BumblebeeRR,

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.

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  #535 (permalink)
 milehightrader 
Tampa FL
 
Experience: Beginner
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Posts: 29 since Mar 2020
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Hi,

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?

Thanks,
MHT

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milehightrader View Post
Hi,

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?

Thanks,
MHT

Hi milehightrader!

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.

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  #537 (permalink)
 milehightrader 
Tampa FL
 
Experience: Beginner
Platform: NinjaTrader Jigsaw
Trading: Emini ES
 
Posts: 29 since Mar 2020
Thanks: 8 given, 11 received

Hi,

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.

Thank you! I'll likely be siigning up soon.

Best Regards,
MHT


Earn2Trade View Post
Hi milehightrader!

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.


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  #538 (permalink)
 cshrum 
nashville, tn
 
Experience: Intermediate
Platform: Ninja 8
Trading: es
 
Posts: 100 since Nov 2012
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Earn2Trade View Post
Hi milehightrader!

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.

What do you mean by first exchange is free? Is there info on the website on LiveSim vs Live account?

thanks

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cshrum View Post
What do you mean by first exchange is free? Is there info on the website on LiveSim vs Live account?

thanks

Hello Cshrum,

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.

We have this article on our FAQ's where you can get more information about the Live and LiveSim data feed cost: https://help.earn2trade.com/en/articles/2090508-when-i-pass-the-gauntlet-gauntlet-mini-and-get-to-the-funding-firm-who-is-responsible-for-paying-data-fees for differences between the funding options please go to this one: https://help.earn2trade.com/en/articles/5374680-what-are-the-differences-between-the-gauntlet-mini-and-the-livesim-live-accounts

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