To make money, the best prop trading firms put their own money into agreements with specific traders. However, it might be challenging to be approved for a funded trading account, particularly for new traders.
Through its instructional resources, Earn2Trade provides an exciting option. By completing evaluation tests, users can access guaranteed funded accounts. In this study, we go through Earn2Trade’s operational details, including trading guidelines, profit splits, withdrawal costs, and more. With Earn2Trade Career Path, you can decide whether to follow a funded trading account.
Each Earn 2 Trade challenge has specific guidelines that participants must follow to succeed. For all assets, fees for each challenge are set at $2.02 per side. This can be set to live commissions when contacting assistance using live chat.
This is also true for the recently launched Trader Career Path, a financed trader program developed to support traders in developing a scaling plan for their careers. Therefore, traders always begin by evaluating their skills on a $25,000 trading test rather than choosing a particular account size. After passing a test, they are already funded and join a proprietary trading firm.
Investors can swap the company’s capital and cash out their gains from this point forward. The distinctive feature of the Trader Career Path is that traders who achieve their goals advance within the company and trade exponentially greater accounts valued up to $200,000.
This is unique in the market and enables traders to put up small amounts for the lowest trading challenge, but as they get better, they can trade more significant accounts.
For those who want to keep expenses to a minimum while having a good chance of maintaining a sizable portfolio in the long run, a trader career path is a great option. Now tell me how the Trader Career Path functions.
Step 1: Trader Career Path Evaluation Process
The evaluation process and a $25,000 account with virtual starting capital are the first steps in the Trader Career Path. The daily loss cap is $550, the EOD drawdown is defined as $1,500, and the profit target is $1,750.
Participants in the Trader Career Path evaluation must trade for at least 15 trading sessions, only change during certain hours, and follow a development ladder that allows them to trade up to three derivative contracts.
During the evaluation process, there is another essential rule to keep in mind. The Consistency Rule is what it is. According to the consistency rule, a single day’s profit cannot make up more than 30% of the overall profit and loss. The prop company prefers to see traders generate steady earnings over a single fortuitous home run.
Therefore, it’s essential to make money constantly every day. However, even if you generate such a big daily profit, you do not automatically fail the Evaluation process. However, you must continue participating in more trading profit-generating days until your best trading profit day does not reflect more than 30% of the total gains.
Step 2: Live Account for Trader Career Path
After passing the evaluation process with virtual programs, the trader has two options: continue with a junior lives account or open a student live account with $25,000 as funding. Both are accessible for-profit withdrawal. The daily loss cap, profit goal, and drawdown restrictions are all the same as during the evaluation phase. Traders that made it through the evaluation procedure gain significantly from the following:
Once Step 2 has been completed, 80% of the earned money may be withdrawn. Funded transactions do not have to pay a monthly subscription fee to Earn2Trade which is the best prop trading firms. There is no longer a requirement to trade for a minimum amount of time.
Profits made by traders might be withdrawn from the account. Weekly payouts will be made on Tuesday. There are no withdrawal bank fees for withdrawals over $500.Profits made by traders might be withdrawn from the account. Weekly payouts will be made on Tuesday. There are no withdrawal bank fees for withdrawals over $500.
The $50,000 account’s current trailing drawdown is $2,000, and the profit target is $3,000. The account will be elevated to the $100,000 live performance once the trader has withdrawn a minimum of $2,400 (or 80% of the $3,000 profit target). The actual profit target is $6,000, and the current trailing drawdown is $3,500. The following and final upgrade will happen whenever the trader takes a minimum withdrawal of $4,800 from the $100,000 account.