Earn2Trade vs Lux Trading Firm

Earn2Trade Overview

Earn2Trade is a prop firm that has been establishing its presence since 2016, offering a Funded Trader Program that affords traders the opportunity to showcase their skills and earn a trading account. The firm accepts deposits through credit and debit cards and allows withdrawals via bank wire transfers. As a firm, Earn2Trade focuses on commodities trading, providing the traders an option between USD and GBP as account currencies. The standardized approach towards trading tools caters to those who specialize in the commodities market.

Lux Trading Firm Overview

Lux Trading Firm, a relatively newcomer established in January 2021, has quickly gained a solid reputation with a Trustpilot rating of 4.5 out of 5 stars. They offer a wide array of trading instruments, including cryptocurrencies, forex, indices, and stocks. What stands out is the opportunity given to traders to scale their accounts up to a magnificent $10 million. Providing a free trial is a testament to the firm's confidence in its offerings, a feature that many traders will surely appreciate. In addition, Lux Trading Firm exhibits flexibility by allowing various deposit and withdrawal methods, including bank wire, crypto, and credit/debit cards. The account currency is solely USD, reflecting a focused yet limiting approach.

Comparison of Trading Conditions and Support

Both Earn2Trade and Lux Trading Firm offer unique environments to their traders. Lux Trading Firm outshines with its impressive profit share of 75%, its flexibility with holding positions over the weekend, and no deadline on meeting profit targets. In contrast, Earn2Trade's pros and cons were not specified; thus, it's challenging to draw a direct comparison. However, considering the broader market access, Lux Trading Firm offers more variety and potential for diversification with an array of tradeable instruments. Lux Trading Firm is also more generous in profit shares and appears more lenient in trading conditions, yet maintains a strict policy when it comes to risk management, as evidenced by its 4% maximum relative drawdown limit. Furthermore, Lux Trading Firm's client support is highlighted by its responsive email communication, which may be a decisive factor for many traders seeking timely assistance.

Account and Funding

When it comes to funding, Lux Trading Firm has the upper hand with its diverse deposit and withdrawal options, which accommodate a broader range of trader preferences. It is essential to note the difference in account sizes; while Earn2Trade offers a starting account size of $10,000 USD, information on Lux’s various account sizes was not specified but are denoted in USD. Earn2Trade maintains a more traditional approach with standard banking options for transactions and offers two account currencies (USD and GBP), accommodating traders from different regions.

Trading Rules and Restrictions

Lux Trading Firm stipulates several rules such as maximum loss, minimum trading days, profit targets, use of stop losses, and restrictions on third-party trading risks, whether from copy trading or Expert Advisors (EAs). These strictures point to a controlled yet disciplined trading environment, which could appeal to traders who appreciate clarity and defined risk parameters. By comparison, the actual rules for Earn2Trade are not provided in the context given, but as with most prop firms, traders can usually expect some trading rules to be in place aimed at protecting the firm’s capital.

Conclusion

In the quest to find the right prop firm, traders must weigh pros and cons according to their individual trading style and needs. Despite the lack of detailed information on Earn2Trade, traders should appreciate the firm's established history since 2016, its focus on commodities, and the dual account currency option. Conversely, Lux Trading Firm presents a vibrant and modern trading environment with their wide range of tradable instruments, favorable profit shares, and a progressive scaling plan. The details show that for those who can abide by Lux Trading Firm's stipulated trading rules and risk management policies, the prop firm offers a comprehensive and potentially rewarding platform for both novice and experienced traders alike.