Earn2Trade vs Prop Shop Trader_ Which Evaluation is Easier
When it comes to entering the world of proprietary trading, choosing the right evaluation program is a critical step. Two popular options among aspiring traders are Earn2Trade and Prop Shop Trader. Each offers unique evaluation processes to qualify traders for funded accounts, but many wonder which evaluation is easier to complete successfully. This article explores the evaluation criteria, process, costs, and overall accessibility of these two platforms to help you make an informed decision.
Overview of Earn2Trade Evaluation Program
Earn2Trade is a comprehensive education and trader funding platform that has gained traction for its clear and structured evaluation process. The program is designed to prepare traders through education and testing in a simulated environment before advancing to a funded account. Traders usually start with the Gauntlet Mini or the Gauntlet challenge, both aimed at assessing trading skills under realistic market conditions.
The Earn2Trade evaluation puts a strong emphasis on risk management and consistency. Participants must reach specific profit targets while adhering to maximum loss limits, which helps ensure they can trade responsibly. The program is focused on futures trading and offers ample educational resources to support traders through the evaluation.
Prop Shop Trader Evaluation Program Explained
Prop Shop Trader is another established proprietary trading firm offering an evaluation program that features a two-step process: an evaluation phase and a verification phase. Traders are given simulated accounts to demonstrate their ability to generate profits while following specific rules regarding drawdowns and trading activity.
This program also places great importance on risk management and requires traders to exhibit good trading habits, including following maximum loss limits and achieving profit targets. While the Prop Shop Trader program is accessible to different types of traders, including equities and futures, its evaluation tends to focus more heavily on the verification phase to validate the trader’s consistency and approach.
Comparison of Profit Targets and Trading Rules
One key aspect of evaluating which program is easier lies in understanding the profit targets and trading rules. Earn2Trade’s Gauntlet Mini typically demands traders to meet profit targets around 5% with strict daily and maximum loss limits to pass. The time frame to complete the challenge varies but usually spans around 15 trading days. Traders must balance growth with drawdown controls, which promotes disciplined trading.
The Prop Shop Trader evaluation generally requires a slightly higher profit target depending on the account size, often ranging between 6% to 10%. The drawdown rules are similar in stringency but the verification phase adds an extra layer of challenge that requires consistency over a second period of trading. This means that traders not only have to perform well initially but must also prove their skills in a follow-up phase.
Cost Comparison Between Earn2Trade and Prop Shop Trader
Costs play an important role in determining how accessible and easier an evaluation is for different traders. Earn2Trade’s Gauntlet Mini typically costs a few hundred dollars, making it an affordable option for many traders who want to enter the world of prop trading without huge upfront fees. The fee covers educational resources and the evaluation itself, which adds significant value.
Prop Shop Trader’s evaluation fees are generally in the same range, but some traders report slightly higher costs depending on the account size and the evaluation package they choose. Since the program requires successful completion of both the evaluation and verification phases, additional time and potential fees may be involved if extra attempts are needed.
Educational Support and Resources Availability
Earn2Trade is well known for its strong educational offerings. Participants gain access to trading courses, webinars, and mentorship programs that provide guidance throughout the evaluation. This extra support makes the evaluation process more manageable, especially for newer traders who may be learning critical skills as they trade.
Prop Shop Trader also provides some educational material and trader development resources, but it may not be as extensive or structured as Earn2Trade’s offerings. Traders working through the Prop Shop program might need to supplement their education independently to prepare adequately for the evaluation and verification stages.
Flexibility in Trading Style and Instruments
Earn2Trade’s evaluation programs predominantly focus on futures trading, which suits traders comfortable with commodities, indices, and currency futures. Their platform limits trading strategies to those compliant with futures market rules. This focus helps streamline the evaluation but may not appeal to traders interested in stocks or forex.
Prop Shop Trader offers more flexibility by supporting a wider range of asset classes, including equities and options alongside futures. This can be an advantage for traders who prefer different markets or instruments, but it also means they must carefully adhere to the rules relevant to each product during evaluation.
Evaluation Timeline and Completion Chances
Earn2Trade’s Gauntlet Mini generally offers a 15 to 30 trading day window to meet objectives, giving traders a reasonable period to adjust strategies and manage risks. The clear trading rules and accessible profit targets enhance the likelihood of completion, especially for disciplined traders. The inclusion of educational resources further boosts preparation, making Earn2Trade’s evaluation process approachable.
Prop Shop Trader’s two-step evaluation process can extend the overall timeline as traders move from evaluation to verification. The requirement to prove consistency in both phases can be more challenging, potentially reducing the initial success rate for some participants. However, those successful in Prop Shop Trader’s rigorous process demonstrate strong readiness for funded trading.
Support and Community for Traders
Another factor that can make an evaluation feel easier is the support network available. Earn2Trade has an active community, including forums and customer support channels, where traders can share experiences, strategies, and motivation. This network fosters a collaborative environment that helps traders overcome challenges during the evaluation.
Prop Shop Trader also offers customer support and a community for funded traders, but the interaction during the evaluation phases may be less extensive compared to Earn2Trade. This means traders might feel more isolated when encountering difficulties, which could affect their chances of success.
Risk Management Emphasis and Its Impact on Ease of Evaluation
Both Earn2Trade and Prop Shop Trader emphasize risk management, but the approach and enforcement can influence perceived difficulty. Earn2Trade’s strict daily and overall loss limits encourage cautious trading, which can be easier for traders who naturally adopt risk-conscious habits. Failure to teach or enforce these rules could be detrimental, but the platform provides clear guidelines to aid compliance.
Prop Shop Trader’s risk parameters are similarly tight, but the extended verification phase requires prolonged risk discipline, which some traders find more demanding. The necessity to sustain good risk management over multiple phases often leads to a steeper learning curve and greater mental endurance.
Which Evaluation Is Easier for New Traders?
Considering the aspects discussed, Earn2Trade tends to be more beginner-friendly due to its comprehensive educational resources, clear evaluation criteria, and shorter evaluation timeline. The emphasis on futures trading narrows the scope but allows newer traders to focus and gain specialized skills. The cost-effectiveness and strong support system further lower barriers to success.
Prop Shop Trader might be better suited to traders with some prior experience who are comfortable with verification-style testing and more diverse trading instruments. The extended evaluation phases require consistent performance and a higher degree of commitment, which can make the process more intimidating for newcomers.
Final Consideration: Matching Your Trading Style to the Evaluation
Ultimately, the ease of an evaluation depends largely on individual trading style, discipline, and preferences. Traders who prefer a well-supported, educationally rich environment with futures trading focus will find Earn2Trade’s evaluation easier and more structured. Those who seek flexibility in instruments and are confident in maintaining consistency over longer periods might appreciate Prop Shop Trader’s approach despite its challenges.
Before deciding, consider your experience level, preferred markets, risk tolerance, and financial resources. Trying demo accounts and reviewing each program’s detailed rules can also provide insight into which evaluation aligns with your strengths.