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Earn2Trade - Orianna Foucault (Director of Support) - Ask Me Anything (AMA)
Does this mean you can hit 5k on LiveSim but you'll need to wait for them to find another FCM and to open a funded account to actually, finally, effectively, withdraw 80% of these 5k?
Can you help answer these questions from other members on NexusFi?
I am in the same situation. I choose to trade the LiveSim account, don't want to pause my trading. I was told exactly the same thing. Once i reach the 5K I can withdraw 4K (80%) or pass it to the live account.
This is all very nice and a temporary solution, but it is not clearing the question how long it is gonna take to get the real live account. I have the feeling (and it is not more then that, no facts) that this ïn between step is just another test before they let you trade real money. Let's hope that that's the case and that there will be no delays in setting up the real live account.
According to Helios response today, they estimate to have the transition completed by the first week of February, but they don't have a specific date to tell me.
I am checking on a couple of other points, and if all clear, then I will go ahead with the LiveSim until February or thereafter etc.
I submitted my paperwork to helios yesterday and selected the live sim as I want to continue trading. Use of the Ninja trader platform requires an additional fee for the leader/follower system as well. Not really sure what that means, except that your orders don't get routed to the market, they go to helios to execute. Also have to pay data fees which many have commented on above.
You don't need NT8 Leader Follower for LiveSim account only in Live Account but you have to pay the $105 pm data fees which is passed thru to your account. So for me instead of starting on $50k I will be given start balance of $49895
For the last 3 months (and 7 days) I have been waiting for the live account to restart, after trading live for just about 3 weeks. I am willing to wait more because the paying SIM doesn't look convincing to me. Particularly all the fees cannot be real.
On a different note (I apologize I never did that while I was trading live) do these guys or other similar funded trader programs provide daily and monthly statements from the FCM? Like you get when you trade your account with any broker.
So sorry for the delay in my response! A Happy New Year to all of you on this forum and I wish you successful trading!
The prop firm will take their share each month, (even if you don't withdraw) of the profits they have not taken yet. If we take your example, yes, the prop firm will take 20% of those new profits. They will take 20% of any new profits you make, either when you withdraw, or when the month is over, but never twice.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
I am really sorry for this wait you had to go through. We will be announcing our new funding partner and FCMs soon.
I just have to mention that if you trusted the Gauntlet being real, the LiveSim is the same mechanism and the same Rithmic-provided infrastructure.
As to the "realness" of the fees, what I can say is that I wish the CME thought the same way and charged no fees on simulated trading. It is not the case though, but I think we have already covered this topic.
I'll ask the new provider about the statements for you soon!
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
I passed my gauntlet on 04 Jan and have submitted my paperwork. I was told my documents were fine.
Yet there is no ETA given and every ticket I open on helios zendesk, to ask for an ETA or any further information, gets closed as "SOLVED" without any response whatsoever.
I was not even given the option to chose between LiveSim or Brokerage account.
I am feeling a bit agitated, as there is no ETA given and all my tickets are just getting blatantly ignored.
