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AN INSIGHT
TO DAY TRADING

LIVE ACCOUNT PROVIDERS – EARN2TRADE REVIEW


MISSION

Earn2Trade's mission is to match skilled traders with proprietary trading firms willing to fund them.


ABOUT

Earn2Trade is a US based company founded in 2016, it spent two years in development, before launching its first products in 2018. Beginning of 2020 co-founder Csaba Nahoczky bought the entirety of the company and currently oversees all operations.


Earn2Trade puts big effort into educating futures traders by providing professional mentors and a space to practice while accompanying the traders to develop their hobby into a profession. Traders who are looking to learn the trading business can join their beginner crash course covering general market conditions, risk management and technical trading. Further, Earn2Trade offers a bootcamp with weekly mentorships and webinars preparing aspiring traders for the 60 days Gauntlet evaluation program where they can proof their skills and, when passed successfully, receive a funded account.


Moreover, Earn2Trade also runs a Discord server providing further opportunities to join their community and exchange with other traders.


ACCOUNT TYPES

Earn2Trade offers 5 different account types ranging from $25k to $150k account size with the Gauntlet Mini and one $25k account type with the Gauntlet.


QUALIFICATION PROCESS

Earn2Trade offers two different ways to qualify for a funded account – the Gauntlet Mini and the Gauntlet.


Gauntlet Mini

The Gauntlet Mini includes a beginner crash course and requires a minimum of 15 trading days in the qualification process. They may be consecutive or non-consecutive, but it must be 15 active trading days in total. The maximum position size, profit target and daily loss limit respectively trailing drawdown depends on the chosen account. In that regard, a trader may hit the daily loss limit but keeps the account as long as it does not hit the maximum trailing drawdown which is calculated per end of the day basis (EOD).


Moreover, Earn2Trade has a consistency rule in place that states over the course of the examination no single trading day can account for 30% or more of the total PnL. Therewith, traders who have generated a total profit of $7,000 on the $100,000 Gauntlet Mini evaluation with a single trading day accounting for $4,000 for example, are not finished yet since those $4,000 profits exceed the allowed total of 30% the total PnL of a single day.


Also, the Gauntlet Mini follows a regression ladder meaning traders must self-regulate and limit the number of contracts that they are allowed to open. If a trader places more lots than the account allows, he / she fails the qualification automatically. Further, Earn2Trade does not allow holding positions over night and traders must close their trades by the end of the trading day.

All Gauntlet Mini account types are eligible for a reset should a trader fail the evaluation.


Gauntlet

The Gauntlet requires to manage a $25k virtual account over a 60 calendar days period whereof a minimum of 30 calendar days and once per week must be traded. Also, the trader is expected to submit a trading plan in his dashboard. During the period a maximum drawdown of 10% is allowed which is calculated per end of the day basis (EOD) and a profit target of 10% is aimed at the end of the Gauntlet. Traders are allowed trading during news and holding a position of max. 1 lot over night. The Gauntlet comes at a $429 one-time fee which can also be reset for $229 should a trader fail to meet the requirements. The initial fees for the Gauntlet will be refunded once passed successfully.


With both qualification schemes, the Gauntlet mini and the Gauntlet, Earn2Trade allows trading products from all major exchanges CME, NYMEX, COMEX and CBOT. Data fees for those exchanges are included in the account evaluation fee. In order to ensure a successful qualification process, a trade must have a successful trading strategy. The UC Trading futures day trading course provides holistic learning material as well as individual support to pass the Earn2Trade qualification.


LIVE ACCOUNT

Once a trader has passed the Gauntlet or Gauntlet Mini evaluation, a prop trading account will be provided from one of Earn2Trade’s funding partners. Traders can then start trading a live account or remain in a simulated trading account - the LiveSim.

The LiveSim account type has been implemented as an optional bridge towards the final live account. Traders can still generate and withdraw profits in the LiveSim environment and are moved to a prop trading account automatically after reaching a $5,000 profit. Maintaining a 80/20 profit split with both account types $4,000 of those profits are withdrawable. Also, the drawdown is calculated exactly like on the evaluation process meaning EOD.

Earn2Trade's live accounts maintain the same parameters like in the evaluation process with regards to the daily loss limit and regression ladder, however, the drawdown calculation changes from an EOD to a real-time drawdown which also considers unrealised profits until the drawdown threshold has reached the initial account balance. A trader with the $50k account for example would start with a drawdown threshold at $48k. When the trader reaches the initial account balance per drawdown threshold the drawdown remains at that level permanently and does not move any further.


There are no further account subscription fees for the trader, however, there are data fees for the exchanges. The LiveSim includes one exchange for free and all additional exchanges come at an additional $105. The Live account has no exchange included and the trader needs to pay $105 per exchange.


Earn2Trade has no restrictions concerning trading during news with their LiveSim and Live accounts but trades must be closed within a trading day and are not allowed to be held over night.


OPINION

As described in the Earn2Trade review, the company very much focuses on providing educational opportunities through their beginner course and bootcamp which can be a good help to get a first inside into the trading business. Also, their drawdown is calculated on an end-of-day basis during the evaluation process and LiveSim account which clearly is an advantage compared to other providers even though it switches to real-time in the subsequent live account until reaching a certain threshold. Nevertheless, it can still be considered a fair solution between the two calculation methods. Further, Earn2Trade does not charge any account maintenance fees for their live accounts.


On the other hand, Earn2Trade maintains comparably strict account restrictions with their consistency rule and regression ladder during the evaluation process. Also, they request $105 per exchange with their live accounts which sums up to $420 in total each month when subscribing to all major CME exchanges. Should a trader focus on one exchange only that may be reasonable, however, when trading multiple markets at different exchanges those fees illustrate a big number.


Finally, even though Earn2Trade puts big effort in educational material while applying a fair drawdown calculation approach and charging no account maintenance fees, considering the high monthly data feed fees and generally tight account restrictions, competitors like Leeloo, UProfit and OneUp may illustrate the more attractive alternative.


SPECIAL OFFER

Sign up with Earn2Trade via this link and get a 20% discount on any evaluation the first month.