Prop trading firms like TopStep and earn2trade offer aspiring traders the opportunity to prove themselves and potentially get funded by the firm. These firms typically require traders to go through a trial period, during which they must demonstrate their trading abilities and show that they are profitable. This is done to confirm that the trader is not a novice but a true trader with the skills and knowledge to protect their own and the firm's capital. By going through this trial period and proving themselves, traders can earn the opportunity to trade with the firm's capital and potentially earn a profit from their trades.
TopStep Vs. earn2trade: What are They?
TopStep and Earn2Trade have funded account programs that offer traders the opportunity to start trading with a funded account. However, there are some differences between the two programs.
TopStep offers traders the chance to start trading with a funded account of up to $150,000. To participate in the program, traders must pass the two steps of the Trading Combine. Once accepted, they are given an account with real money to trade with, and if successful, they are moved to a live account where they can keep the profits they make.
Earn2Trade, on the other hand, is both a recruitment firm for funded investors and an education provider. The company offers several challenges that assess investors' trading skills and ability to make consistent profits over a set period. It is unclear whether Earn2Trade offers a funded account program similar to TopStep.
Overall, TopStep and Earn2Trade offer opportunities for traders to prove their skills and potentially receive funding for their accounts. However, the specific details and requirements of each program differ, so it is crucial for traders to carefully consider which program is the best fit for their needs.
TopStep Vs. earn2trade: TopStep Evaluation Process
Topstep is a trading firm that offers funds to traders who can demonstrate their trading skills through their Trading Combine program. The Trading Combine is a series of steps that help traders prove their ability to make profits while managing risk consistently.
The first step of the Trading Combine is the Profit Target. In this step, traders are given a target profit they must achieve within a specific time frame. The current profit target is 6% of the buying power selected by the trader.
The second step of the Trading Combine is the Loss Limit. In this step, traders must meet a weekly loss limit of $1,000 and follow a scaling plan to avoid over-leveraging their accounts. They are also not allowed to hold positions during major economic releases.
If a trader successfully completes both steps of the Trading Combine, they can then choose between a standard account or a pro account.
To participate in the Trading Combine, traders must first register on the Topstep website. This program is an excellent opportunity for traders to prove their skills and potentially receive funding for their trading accounts. In addition, it is an essential step for any trader seeking funding from Topstep.
earn2trade Vs. TopStep: earn2trade Evaluation Process
Earn2Trade offers two challenges for traders: the Gauntlet Mini and the Trader Career Path.
The Gauntlet Mini
The Gauntlet Mini is a 15-day assessment program that has different account sizes ranging from $25,000 to $200,000, each with its own profit goals, end-of-day drawdown limits, daily loss limits, progression ladder, and monthly subscription price ranging from $85 to $270.
To pass the Gauntlet Mini, traders must complete the following requirements:
- Trade for a minimum of 15 days
- To not fall below the daily or minimum account balance
- Only trade during approved times
- To not exceed the maximum number of open contracts or position size as stated in the progression ladder
- Maintain consistency by ensuring that no single trading day accounts for 30% or more of their total profit and loss.
Upon completing the Gauntlet Mini, traders will receive a guaranteed funding offer from Helios Trading Partners, with an 80/20 profit split in their favor. The daily loss limits are removed once the trader's maximum drawdown reaches the account's starting balance. In addition, there is a monthly fee of $105.00 per exchange for the data feed, which the trader must pay. The assessment will be terminated if the trader doesn't trade for five days without notice.
Trader Career Path
Earn2Trade's Trader Career Path is a comprehensive program that provides traders with the tools and resources they need to succeed in the financial markets. The program includes many valuable services, such as a free license for NinjaTrader and Finamark, a practice simulator profile, and access to Earn2Trade's extensive library of educational resources.
The program is structured to allow traders to progress through different account levels as they meet specific performance criteria. The starting account is a virtual currency account with a starting balance of $25,000, and traders must maintain a consistent level of profitability to move up to the next level. The program has a minimum duration of 15 days, and there are caps on daily and end-of-day losses to ensure that traders can recover from any setbacks they may encounter.
There are four levels of accounts available through the Trader Career Path, starting with the $25,000 Junior Live Account. From there, traders can progress to the $50,000 Intermediate Live Account, the $100,000 Advanced Live Account, and finally, the top level, the $200,000 Senior Live Account. Each level has its own performance criteria and loss caps, and traders must meet these criteria to advance.
Overall, Earn2Trade's Trader Career Path is a valuable resource for traders looking to take their trading careers to the next level. By providing a clear path to follow and a range of tools and resources to help traders succeed, the program allows traders develop the skills and confidence they need to succeed in the financial markets.
TopStep Vs earn2trade: Cost
TopStep Trading offers a Trading Combine program for a fee of $165 for a $50,000 account. If a trader completes the combine, they can choose from a range of monthly subscription plans, the cost of which will vary depending on the plan selected.
Earn2Trade offers two main programs for traders: the Trader Career Path and the Gauntlet Mini. Both programs require an evaluation process, with fees ranging from $75 for a $25,000 account in the Trader Career Path to $275 for a $200,000 account in the Gauntlet Mini. If a trader passes the evaluation process, they can choose from a range of monthly subscription plans, with prices ranging from $150 to $550 for the Trader Career Path and $170 to $350 for the Gauntlet Mini. The size of the account offered will depend on the program and the evaluation fee paid.
TopStep Vs. earn2trade: Profit Splits
When deciding a prop trading firm, traders should consider their profit splits. For example, both TopStep's firm and earn2trade have very different options.
At TopStep, funded traders will get 100% of their profits from the first $5,000 of payouts they receive. After that, they'll get 90%, while the firm keeps the other 10%.
With earn2trade, funded traders can benefit from a more generous 80:20 profit split, with traders keeping 80% and the firm retaining 20%. Both platforms offer an excellent opportunity for success in trading careers; however, seasoned traders may want to consider their options carefully before deciding which is best for them.
Who Should Choose TopStep?
TopStep is a funding program for traders that requires discipline and adherence to specific risk management strategies. It is not a quick way to make money, and traders should be aware that there is a possibility of losing money during the evaluation process. It is suitable for traders willing to put in the effort to improve their performance and have the discipline to follow the rules set by the program. Those looking for instant gratification or do not want to follow the rules may not be successful with TopStep and should consider alternative funding solutions.
Who Should Choose earn2trade?
Earn2Trade is an excellent resource for developing their trading skills and potentially becoming professional traders. In addition, the Gauntlet Mini and Trader Career Path programs offer valuable opportunities for aspiring traders to hone their skills and potentially receive additional trading capital. These programs are well-suited for individuals who already have a successful trading strategy and are looking to take their skills to the next level. Overall, earn2trade is an excellent resource for those looking to become professional traders and build a successful career in the trading industry.
earn2trade Vs. TopStep: Customer Support
In the world of proprietary trading, customer support is crucial. That's why it's essential to consider a firm's support system before deciding—both TopStep and earn2trade offer excellent options for traders.
TopStep provides top-notch customer service, with phone support during business hours and chat and email options on their website. earn2trade takes it even further, offering support through live chat, Whatsapp, and Telegram.
Ultimately, it will depend on your individual needs and preferences, but TopStep and earn2trade offer top-quality customer support options.
Conclusion
TopStep and Earn2Trade are both companies that offer funded account programs for traders. TopStep allows traders to participate in their Trading Combine program, which involves meeting a profit target and loss limit to demonstrate their trading skills and potentially receive funding for their account. earn2trade offers two challenges for traders: the Gauntlet Mini and the Trader Career Path. The Gauntlet Mini is a 15-day assessment program that assesses traders' skills and ability to make consistent profits.
In contrast, the Trader Career Path is a more extended program that includes trading assessment and education components. TopStep and Earn2Trade provide traders with the opportunity to prove their skills and potentially receive funding for their trading accounts, but each program's specific details and requirements differ.
Therefore, it is vital for traders to carefully consider which program is the best fit for their needs and goals.