Earn2Trade 2024 Review - A Path to Becoming a Funded Futures Trader

Introduction

In 2024, Earn2Trade continues to stand out as a top choice for futures traders seeking a structured path to professional trading. Whether you're new to trading or a seasoned trader looking for capital, Earn2Trade offers comprehensive funding programs, educational support, and competitive profit-sharing. Let's dive into what makes this platform one of the best options for prop trading this year.

Key Features of Earn2Trade in 2024

1. Trader Career Path

   The Trader Career Path (TCP) is Earn2Trade’s flagship program and remains highly attractive for traders in 2024. TCP offers a clear progression to managing up to $400,000 in capital. Traders start with a simulated evaluation, where they demonstrate their trading skills using virtual capital. Upon successful completion, they can choose between a LiveSim or a live account with a registered broker. As traders meet profit targets, they can scale their accounts to larger amounts, following a progression ladder that moves from $25,000 up to $400,000.

   This path is perfect for traders who want the potential to grow into handling larger capital without risking their own money. It also ensures that traders focus on consistency and risk management, which is critical for long-term success in futures trading.

   
   

2. The Gauntlet Mini

   For traders who want a faster route to a funded account, Earn2Trade's Gauntlet Mini is a one-step evaluation process. Traders are required to meet a profit target while adhering to specific trading rules, including maintaining a minimum account balance, avoiding exceeding the daily loss limit, and trading consistently over 15 days. Unlike TCP, the Gauntlet Mini does not have as large of a progression ladder, with a maximum account size of $200,000.

   The Gauntlet Mini is ideal for intraday traders or those who want to prove their trading skills quickly. Additionally, traders receive free access to Earn2Trade's educational materials during their evaluation, making it a great option for those still learning the ropes.

   
   

3. Profit Split and Withdrawals

   Earn2Trade offers a competitive 80/20 profit split, where traders keep 80% of their profits. Withdrawals are processed weekly and can be done through bank transfers or cryptocurrency, with no fees for withdrawals over $500. For traders who appreciate transparency and regular payouts, this setup is on par with industry standards.

   One key feature of Earn2Trade is its LiveSim accounts, which allow traders to continue trading in a simulated environment with the same rules as a live account. This gives traders the flexibility to ease into live trading without immediately risking real capital.

   
   

4. Educational Support

   Earn2Trade goes beyond just providing funded accounts by offering robust educational resources. Their Beginner Crash Course covers everything from basic market mechanics to advanced risk management and technical analysis. The program includes a series of video lessons, quizzes, and webinars that help traders sharpen their skills.

   Additionally, Earn2Trade integrates Journalytix, a powerful analytics tool that helps traders review their trading history, track performance, and refine strategies. This is invaluable for traders who are serious about improving and growing their trading career.

Earn2Trade 2024 Pricing and Fees

The costs of participating in Earn2Trade’s programs are competitive compared to other prop trading firms. For the Trader Career Path, the monthly subscription fee ranges from $150 to $190, depending on the account size. If a trader fails the evaluation, they can reset their account for a fee of $100, allowing them to restart without significant penalties. 

The Gauntlet Mini program also comes with a subscription fee between $150 and $350, depending on the package. For traders interested in the full Gauntlet program, there's a one-time fee of $429, which offers a more traditional evaluation over 60 days.

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Earn2Trade has specific rules and guidelines that traders must follow, Let's give into Earn2trade's rules:

General Evaluation Rules

1. Minimum Trading Days:

   Traders are required to trade for a minimum number of days to complete an evaluation. For the Gauntlet Mini, this is 15 trading days. The Trader Career Path has a similar requirement.
   Daily Loss Limit:

   Traders must not exceed the daily loss limit. This is a fixed maximum amount of loss allowed per day and varies based on account size. For example, a $50,000 Gauntlet Mini account has a daily loss limit of $1,100, while a $100,000 account allows up to $2,200.
   
   

2. Consistency Rule:

   The Maintain Consistency rule applies to both the Trader Career Path® evaluation and the Gauntlet Mini™.
   The "Maintain Consistency" rule states that over the course of your examination, no single trading day can account for 30% or more of your total PnL.
   For Example:
   If your profit target is $3,000, it is a good idea to keep 30% of that as a benchmark number in your head. 30% of $3,000 is $900. If you profit more than $900 in a single day, that does not end your evaluation or make you fail the process. It just means that you need to trade more, until this single day equals less than 30% of your total profits.
   Using the same example, if you profit $1,200 in one day, that's 40% of $3,000. You can calculate how much profit you need to maintain consistency by dividing your highest daily profit ($1,200) by 0.3. In this case, 1,200 / 0.3 = 4,000. So, if your total profit is over $4,000, the $1,200 daily profit becomes less than 30% of your total.
   
   The Maintain Consistency rule does not apply on the LiveSim® and/or Live accounts.

The daily PnL is calculated into this rule regardless of whether or not the account balance is below or over the starting account balance.

3. Profit Target:

   Each evaluation account size has a corresponding profit target. For example, a $50,000 account in the Gauntlet Mini requires a profit target of $3,000, and the larger accounts have proportionally higher profit goals.
   
   

4. Maximum Drawdown:

   Traders must stay within the allowed maximum drawdown. This ensures that they avoid significant account losses during the evaluation. For example, the Gauntlet Mini for a $50,000 account has a drawdown limit of $2,000.
   
   

5. Position Limits:

   Each account size has a maximum number of contracts that can be traded simultaneously. For instance, a $50,000 account allows up to 6 contracts, while a $100,000 account can trade up to 12 contracts.

   
   

6. Restricted Trading Times:

   Earn2Trade requires traders to trade within designated market hours and prohibits trading over significant market news events to avoid excessive volatility. This ensures traders develop a disciplined approach to their trading hours.

   
   

7. Account Reset Options:

   If a trader violates any of these rules, they fail the evaluation but have the option to reset their account by paying a reset fee, typically around $100, allowing them to start the evaluation over without losing their progress.

   
   

8. End of Day Drawdown:

   The Trader Career Path and Gauntlet Mini™ evaluations calculate drawdown based on the end of the day balance of the trading account. The drawdown is pegged to your positive account performance and is adjusted at the end of the day and updated after market close. That means if you increase your profit by $1.00, then your minimum account balance will also rise by $1.00.

Example:

The account size is $100.000, with a Maximum Drawdown of $3500. When the account is opened with these parameters, the minimum account balance is $96,500.

Day 1
After the first day of trading during which the account balance fluctuates between winning and losing trades, at the end of the day, your account balance stops at $102,000. Earn2Trade will adjust your minimum account balance to $98,500.

Day 2
On the second day, your account balance at the end of the day is $101,000. The minimum account balance is unchanged at $98,500.

Day 3
On the third trading day, the account balance at the end of the day is at $103,000. Your new minimum account balance is adjusted to $99,500.

This continues until your Maximum Drawdown reaches the starting balance of your account, or in this case, $100,000, at which point it will no longer rise.

Notes:

• The minimum account balance is only adjusted at the end of the trading day.

• Traders must be aware that open equity losses are taken into consideration when calculating whether or not the account failed on this rule. This means that if an open position dips your account balance below the minimum account balance, your evaluation attempt will fail.

Earn2Trade's evaluation rules offer a balance between challenge and flexibility compared to other proprietary trading firms. For example, Earn2Trade's Gauntlet Mini requires traders to maintain consistency and manage daily loss limits, similar to competitors like Topstep. However, Earn2Trade stands out with features like no scaling plans—allowing traders to trade the maximum contract size from day one—and its LiveSim account, offering a smooth transition to live trading. While firms like FTMO may offer higher profit splits (up to 90/10), Earn2Trade’s 80/20 profit split combined with accessible educational resources makes it particularly appealing for new traders.

Earn2Trade's evaluation objectives are designed to assess a trader's ability to manage risk, trade consistently, and reach profit targets without exceeding specific loss limits. These objectives are primarily evaluated in two key programs: the Trader Career Path and the Gauntlet Mini.

Key Evaluation Objectives:

1. Profit Target

   Traders must reach a predefined profit target based on the account size. For example, a $50,000 Gauntlet Mini account has a profit target of $3,000, while larger accounts have proportionally higher targets.

   
   

2. Maximum Drawdown:

   Traders are required to stay within the maximum drawdown limit, which ensures they do not suffer excessive losses. For instance, the $50,000 Gauntlet Mini account has a maximum drawdown of $2,000.
   
   

3. Daily Loss Limit:

   Each day, traders must not exceed the daily loss limit. This encourages careful risk management. For the $50,000 account, the daily loss limit is $1,100.
   
   

4. Minimum Trading Days:

   Traders must trade for a minimum of 10 trading days during the evaluation to show consistency and discipline. Rushing to hit targets in less than 10 days is not allowed.
   
   

5. Consistency Rule:

   Earn2Trade enforces a consistency rule that requires traders to avoid making drastic changes in position size or trading behavior, helping to build long-term successful habits
   
   

6. Approved times:

   Only trade during the approved times: You may trade beginning when the exchange trading opens for your particular asset. Generally this is 5pm CT but may differ based on holiday or asset.
   All positions and working orders must be closed by 3:50pm CT until 5pm CT.
   GF/HE/LE must be closed by 1:05pm CT until 5pm CT.
   XC/XK/ZC/ZL/ZM/ZS/ZW must be closed between 7:45am-8:30am CT and then again between 1:20pm-5pm CT.

Trading with Earn2Trade can be conducted throughout the day except over public holidays and any times when the exchanges are closed.

7. Progression Ladder:

   Earn2Trade enforces a consistency rule that requires traders to avoid making drastic changes in position size or trading behavior, helping to build long-term successful habits .
   If traders open more contracts than their account size and profit levels allow, their evaluation will be blocked for the day

What Trading Platforms Does Earn2Trade Support? 

There are several supported platforms offered by Earn2Trade. These include the Inside Edge Trader, Investor RT, Motive Wave, MultiCharts, Bookmap, Photon, Sierra Chart, and more. 

For these platforms, you must provide a license. However, Earn2Trade offers a few platforms for free. These include NinjaTrader, Finamark, R / Trader & R / Trader Pro or Overcharts.

Types of Discounts Earn2Trade Offers

1. Seasonal Discounts

   Earn2Trade frequently offers seasonal promotions around holidays, such as Black Friday, Cyber Monday, and New Year’s sales. During these times, you can find discounts of up to 60% off the initial subscription fee for programs like the Trader Career Path or the Gauntlet Mini.
   These limited-time offers can make starting your trading journey much more affordable.

   
   

2. Affiliate and Partner Codes

   Many trading influencers and platforms partner with Earn2Trade, offering affiliate discount codes. These codes can typically save you anywhere from 40% to 60% on your subscription fee. Get 40% off now with The Clever Trade using the coupon theclevertrader or simply click here.

   
   

3. Student Discounts

   In some cases, Earn2Trade provides a discount for students or new traders who sign up through educational partnerships. If you're part of a trading course or online community, it's worth checking to see if Earn2Trade is offering a student discount. These discounts can range between 10% and 30% and are often available to support newer traders in their journey

How to Redeem Earn2Trade Discounts

Redeeming these discounts is straightforward. When signing up for any of Earn2Trade’s evaluation programs, simply apply the promo code "theclevertrader" at checkout. Keep an eye on their website or subscribe to their newsletter to receive updates on upcoming sales and discount codes.

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Value of Earn2Trade Discounts

Considering the monthly subscription fees for Earn2Trade programs range from $150 to $190, and one-time fees like the Gauntlet Mini range from $150 to $350, these discounts can result in substantial savings. For example, a 50% discount can reduce a Gauntlet Mini subscription from $150 to just $75, making it significantly easier to access the funded trader program.

Disadvantages of Earn2trade

1. Subscription Costs Add Up

   Earn2Trade's programs, particularly the Trader Career Path and Gauntlet Mini, come with recurring monthly fees ranging from $150 to $350, depending on the account size. While these fees might seem reasonable initially, if it takes a trader multiple months to pass the evaluation, the costs can stack up quickly. Moreover, failing an evaluation often requires paying a reset fee of around $100, adding further financial pressure.

   
   

2. Strict Trading Rules

   Earn2Trade imposes strict rules, especially in the evaluation phases. For example, the Gauntlet Mini has specific guidelines regarding minimum trading days, loss limits, and consistency rules. If a trader breaches any of these rules, they fail the evaluation and have to reset. This can be frustrating for traders who may be skilled but find the rules too limiting or unforgiving.

   
   

3. Limited Product Focus

   Earn2Trade is primarily focused on futures trading, which may be a disadvantage for traders who prefer to trade other assets like stocks or forex. For those interested in multiple markets or asset classes, Earn2Trade's narrow focus can be a drawback, pushing them toward other proprietary trading firms that offer broader market coverage.

   
   

4. No Immediate Live Accounts

   Even after successfully completing an evaluation, traders don’t always get direct access to live trading immediately. Instead, they may first enter a LiveSim account where they continue trading in a simulated environment under the same rules as a live account. While this can help protect the trader from early losses, it can feel like a delay for those eager to start trading real capital.

   
   

5. Profit Sharing

   Earn2Trade offers an 80/20 profit split, meaning traders keep 80% of their profits. While this is industry standard, some other prop firms offer higher profit splits (up to 90/10). For traders who prioritize maximizing their share of profits, this could be seen as a disadvantage.

In conclusion, Is Earn2Trade Right for You in 2024?

Earn2Trade has positioned itself as one of the top prop trading firms, particularly for futures traders. The Trader Career Path offers the potential to scale to high levels of capital with a clear and structured progression, making it ideal for ambitious traders looking to build a professional trading career. For traders who prefer a quicker evaluation, the Gauntlet Mini offers a faster route to live trading.

The educational resources, user-friendly interface, and transparency around withdrawals and profit sharing make it an excellent choice for both beginner and experienced traders.

If you're looking for a firm that combines funding opportunities with top-notch educational support, Earn2Trade in 2024 is definitely worth considering.