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Earn2Trade - Cheap Tactics - Be Careful - First Day Experience

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 struts12 
philadelphia, pa
 
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Earn2Trade - Cheap tactics - Be Careful - First Day Experience

I have been a member here for the past decade or so. Mostly a lurker but today something has prompted me to contribute to the trading community so it might help someone.

I develop algorithms and run them with different funding firms - some work, some don't. Today, I want to talk about earn2Trade and their business policies.

I received an email from earn2Trade for a 40% discount - figured why not - lets run an algo on the $75K account. Their portal says up to 9 contracts on $75K account. I figured with a daily loss limit of $1750 - probably try with 4 contracts.

So the first day today - the algo puts on a trade - 2 with ES and 2 with NQ. Trade is profitable - minor but positive. Then I try to put on another trade but that doesn't work. So I reach out to their support - who point out I have violated their position size rule. At this point, I am trying to understand what the heck is going on - this is the very first day of trading - your website says 9 contracts and I am not even half of that - so how did I end up violating their position size rule.

Well the support points out that they have these position sizing rules of following a progression ladder that is never mentioned in the whole process of signing up - further its not even part of the welcome email that I received. But when you sign up - as a user - what you see is up to 9 contracts - totally misleading. The support mentions that their website says - follow progression ladder - but its not even a clickable link to find out what it means - and further if your intentions are right why say up to 9 contracts and have the user figure out what this progression ladder means - if the intentions were genuine - first it would be a link that's clickable to explain what they mean and second don't mislead with up to 9 contracts - instead say depending on the account balance with a clickable link that explains everything and lastly add those details to the welcome email.

Further, they don't even want to work with you - I mean its the first day - and even if its their policy - they don't want to extend the courtesy to fix it.

My point being - just another vendor trying to lure in traders - I mean I understand that is their business model - failure of a trader is their success but do you really have to resort to such cheap tactics ?

I hope other traders learn from this experience.

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 MNSTrading 
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struts12 View Post
Earn2Trade - Cheap tactics - Be Careful - First Day Experience

I have been a member here for the past decade or so. Mostly a lurker but today something has prompted me to contribute to the trading community so it might help someone.

I develop algorithms and run them with different funding firms - some work, some don't. Today, I want to talk about earn2Trade and their business policies.

I received an email from earn2Trade for a 40% discount - figured why not - lets run an algo on the $75K account. Their portal says up to 9 contracts on $75K account. I figured with a daily loss limit of $1750 - probably try with 4 contracts.

So the first day today - the algo puts on a trade - 2 with ES and 2 with NQ. Trade is profitable - minor but positive. Then I try to put on another trade but that doesn't work. So I reach out to their support - who point out I have violated their position size rule. At this point, I am trying to understand what the heck is going on - this is the very first day of trading - your website says 9 contracts and I am not even half of that - so how did I end up violating their position size rule.

Well the support points out that they have these position sizing rules of following a progression ladder that is never mentioned in the whole process of signing up - further its not even part of the welcome email that I received. But when you sign up - as a user - what you see is up to 9 contracts - totally misleading. The support mentions that their website says - follow progression ladder - but its not even a clickable link to find out what it means - and further if your intentions are right why say up to 9 contracts and have the user figure out what this progression ladder means - if the intentions were genuine - first it would be a link that's clickable to explain what they mean and second don't mislead with up to 9 contracts - instead say depending on the account balance with a clickable link that explains everything and lastly add those details to the welcome email.

Further, they don't even want to work with you - I mean its the first day - and even if its their policy - they don't want to extend the courtesy to fix it.

My point being - just another vendor trying to lure in traders - I mean I understand that is their business model - failure of a trader is their success but do you really have to resort to such cheap tactics ?

I hope other traders learn from this experience.

that is disappointing. They don't want experienced traders if they are cuffing you like that. They want none to some experience kind of people. Not sure why because 20% of a good traders take is good money. I'm sure they have their reasons though. Perhaps they will comment.

Also why are they capping you on a simulator?

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  #3 (permalink)
 struts12 
philadelphia, pa
 
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MNSTrading View Post
that is disappointing. They don't want experienced traders if they are cuffing you like that. They want none to some experience kind of people. Not sure why because 20% of a good traders take is good money. I'm sure they have their reasons though. Perhaps they will comment.

Also why are they capping you on a simulator?

Yeah, very disappointing. I have tried not to be disrespectful but the least I can do is make other traders aware so that they see it for what it is.

Good question - the only reason I would think they are capping in the sim is is to cover their risk so that the user doesn't end up trading with size in live which obviously they control.

What bothers me most is the arrogance and inflexibility to not work with the trader after duping them out of the funds using cheap tactics. I mean this is with a SIM account - wonder how their behavior would be when real money gets involved that you as a trader have to receive from them after making it for them. Food for thought.

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 Daytrader999 
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struts12 View Post
Well the support points out that they have these position sizing rules of following a progression ladder that is never mentioned in the whole process of signing up - further its not even part of the welcome email that I received. But when you sign up - as a user - what you see is up to 9 contracts - totally misleading. The support mentions that their website says - follow progression ladder - but its not even a clickable link to find out what it means - and further if your intentions are right why say up to 9 contracts and have the user figure out what this progression ladder means - if the intentions were genuine - first it would be a link that's clickable to explain what they mean and second don't mislead with up to 9 contracts - instead say depending on the account balance with a clickable link that explains everything and lastly add those details to the welcome email.

Further, they don't even want to work with you - I mean its the first day - and even if its their policy - they don't want to extend the courtesy to fix it.

My point being - just another vendor trying to lure in traders - I mean I understand that is their business model - failure of a trader is their success but do you really have to resort to such cheap tactics ?

I hope other traders learn from this experience.

First of all, I completely understand that this entire behavior upsets you and may easily lead to a violation of one of their rules because they are simply not stated clear enough when a new client starts an evaluation.

But if you click on the orange asterisk on the right in the row 'Follow progression ladder' you'll get directed to the appropriate website: https://help.earn2trade.com/en/articles/3292351-what-is-the-progression-ladder-in-the-gauntlet-mini

But overall I agree that they should make their rules a bit more exposed to the reader.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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 struts12 
philadelphia, pa
 
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Daytrader999 View Post
First of all, I completely understand that this entire behavior upsets you and may easily lead to a violation of one of their rules because they are simply not stated clear enough when a new client starts an evaluation.

But if you click on the orange asteriks on the right in the row 'Follow progression ladder' you'll get directed to the appropriate website: https://help.earn2trade.com/en/articles/3292351-what-is-the-progression-ladder-in-the-gauntlet-mini

But overall I agree that they should make their rules a bit more exposed to the reader.

Wow - I didn't even know that the orange asterik is actually a link until you pointed it out.

This in itself provides a clear picture of their intentions - if they were genunine - would the asterik be a link or would the text of "Follow Progression Ladder" a link.

I am a developer myself - develop algos, websites, etc - how may websites/emails - how often do you see where an asterik is a link and not the actual text ?

I mean think about it for a minute - what does they say about the vendor ?

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Hi struts12!

Thank you for sharing your experience. We appreciate the feedback, even if we disagree with some of the points you are making. The screenshots that you posted will help us elaborate.

The account selection screen that you posted has an orange asterisk, the only orange spot on a background of grey, linking you to the rule.
The screenshot also shows the tooltip right next to the name of that rule.

I'd also like to mention that the rule is linked a few inches below the actual account selector for reading. Please see on my screenshot, attached.

For the setup email, we have the all the rules linked right in there, as shown on your screenshot as well as mine below for convenience.

I would like to add that you are also presented these same rules in our dashboard, if you log into the product after the purchase.

I am really sorry that you missed all of these, however, I feel that calling this "cheap tactics" when we have just pointed out 3-4 places where you can read about the progression ladder feels unwarranted.



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 struts12 
philadelphia, pa
 
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Earn2Trade View Post
Hi struts12!

Thank you for sharing your experience. We appreciate the feedback, even if we disagree with some of the points you are making. The screenshots that you posted will help us elaborate.

The account selection screen that you posted has an orange asterisk, the only orange spot on a background of grey, linking you to the rule.
The screenshot also shows the tooltip right next to the name of that rule.

I'd also like to mention that the rule is linked a few inches below the actual account selector for reading. Please see on my screenshot, attached.

For the setup email, we have the all the rules linked right in there, as shown on your screenshot as well as mine below for convenience.

I would like to add that you are also presented these same rules in our dashboard, if you log into the product after the purchase.

I am really sorry that you missed all of these, however, I feel that calling this "cheap tactics" when we have just pointed out 3-4 places where you can read about the progression ladder feels unwarranted.



Thanks for your response. I don't want to get into a pissing contest but will say two things -

1) Please don't be sorry. Instead - you should accommodate users when an issue like this occurs - this was the very first day - let that sink in for a moment - the very first day. Your inflexibility and arrogance to not fix this warrants the title of "Cheap Tactics".

2) I would highly encourage you to show some integrity and make the whole text "Follow progression ladder" clickable so that it doesn't come across as a click and bait. Making asterisk as a link to the real information rather than the actual title comes across very shady. Just some feedback - take it for what it is whether you agree or not.

Lastly, my objective to post this was to ensure other traders who have read this post are well aware before they sign up with you - if nothing else, this might save them from falling into your trap.

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struts12 View Post
Thanks for your response. I don't want to get into a pissing contest but will say two things -

1) Please don't be sorry. Instead - you should accommodate users when an issue like this occurs - this was the very first day - let that sink in for a moment - the very first day. Your inflexibility and arrogance to not fix this warrants the title of "Cheap Tactics".

2) I would highly encourage you to show some integrity and make the whole text "Follow progression ladder" clickable so that it doesn't come across as a click and bait. Making asterisk as a link to the real information rather than the actual title comes across very shady. Just some feedback - take it for what it is whether you agree or not.

Lastly, my objective to post this was to ensure other traders who have read this post are well aware before they sign up with you - if nothing else, this might save them from falling into your trap.

Hello struts12,

Again, it seems to me that you missed a lot of different places where the rules are elaborated on. I listed three earlier, please don't make it look like it is hidden in any way.

While I understand that this is currently causing you a lot of grief, I do agree with you on the intention: traders, please read the rules. We have them pasted all over the site, the dashboard, the faq, and we specifically ask you to read them in the very welcome email that was screenshotted above.

It is not meant to be a contest of any kind, I understand that, but it does feel unfair to post a large screenshot of "no progression ladder mentioned" onto an email that highlights the link to the rules and asks you to read them.

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 struts12 
philadelphia, pa
 
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I have formally launched a misleading information complaint with Better Business Bureau.

They are usually late (in months) but I know for a fact that they do follow up and flag these kind of activities - where the business provides misleading information to lure customers. Will let them decide - at the minimum this will make earn2Trade be more flexible with other users in future or be more upfront rather than hiding behind an asterisk.

I will keep everyone posted on the progress - as and when I hear from them.

Thank you for your time.

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Ghappy21
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I doubt that their biz plan is based on taking your 40% off of the fee. Probably, this is just an example of an immature organization that is not truly Trader-focused. I think very highly of TopStep but not sure if that is a fit for you or algo-based trading. I will say that they care about traders and are a professional organization. It seems that it is not too difficult to set-up a Funding Traders shop. Of course, doing that well probably takes years of experience and growing pains.


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