Earn2Trade vs The Funded Trader

Earn2Trade Overview

Earn2Trade is a relatively well-established player in the prop trading firm landscape, having been incorporated in 2016. The firm offers an opportunity for traders to showcase their skill and discipline through its Funded Trader Program, which if successfully completed, grants a funded trading account. Its simple deposit and withdrawal methods (credit/debit cards for deposit and bank wire transfers for withdrawals) makes it accessible, though perhaps slightly limited when compared to some competitors.

The Funded Trader Overview

The Funded Trader, incorporated in May 2021, has quickly secured a spot as a distinguished prop trading choice among retail traders. Their offering boasts an impressive $600,000 standard balance with the possibility of scaling up to $1,500,000 for top performers. It's notable for its four funding options, allowing traders to choose a path that best suits their strategy and risk appetite. The leverage offered is extremely competitive at 1:200, accompanied by generous profit splits of 80-90%.

Comparative Analysis

Earn2Trade appeals to traders with its outcome-focused Funded Trader Program, which, while more limited in account sizes and trading instruments, offers a straightforward path to becoming a funded trader. However, compared to The Funded Trader, it might feel somewhat restrictive with tradeable instruments being limited to commodities and account balances maxing at $10,000 USD. The selection of account currencies (USD, GBP) is a small advantage, but may not be a decisive factor for most traders. In contrast, The Funded Trader offers a more comprehensive suite of tools and options, including the trading of forex, commodities, crypto, and indices. Unlimited free evaluation retries provide a safety net for traders honing their skills, while overnight and news trading allowances signify a flexible trading environment. The customer reviews are stellar, instilling confidence in their service quality despite slower customer support and the complication of a trailing drawdown.

Deposit and Withdrawal Flexibility

When it comes to financial transactions, The Funded Trader leads with more versatility, accepting both credit/debit cards and cryptocurrency for deposits, and offering withdrawals via crypto and Deel, a global payroll solution. This broad range of options is valuable for international traders who may face limited banking services or prefer the speed and convenience of digital currencies.

Trading Rules & Requirements

A critical aspect for every trader to consider is the set of trading rules imposed by the firm. The Funded Trader enforces rules such as lot size limits, maximum daily and overall loss limits, trade duration constraints, as well as profit targets, all of which must be managed carefully to maintain account viability. Additionally, certain strategies, like the use of Expert Advisors (EAs) or Martingale, are prohibited, ensuring that traders follow a disciplined, risk-averse approach.

Conclusion

For traders deciding between Earn2Trade and The Funded Trader, the choice largely hinges on desired account size, instrument availability, funding path options, and personal trading style compatibility with firm rules. Earn2Trade may appeal to those seeking a more constrained but focused program, while The Funded Trader offers an expansive and dynamic environment with significant growth potential for successful traders. Both possess a unique proposition, and traders should weigh the comprehensive features of each relative to their individual needs and aspirations in the prop trading space.