Earn2Trade provides traders with an opportunity to access funded trading accounts through its evaluation programs. Understanding how payments and payouts work is essential for traders looking to join and withdraw their earnings.
How Earn2Trade Payment and Payout Methods Works
Evaluation Process:
- Gauntlet Mini and Gauntlet Programs: Explain the evaluation process that EARN2TRADE uses, where traders must prove their abilities by meeting profit targets within certain risk parameters.
- Profit Share Models: Most prop firms offer profit-sharing models. EARN2TRADE, for example, usually allows traders to keep a significant portion of their profits, sometimes as much as 80-90% once they pass the evaluation.
- Trading Accounts:
- Demo Account: How traders begin their journey with a demo account to test skills and strategies.
- Live Account: After passing the evaluation phase, traders move on to trading with real capital under the EARN2TRADE account.
EARN2TRADE Payment Methods
How Payments Are Processed
- Initial Payment for Participation: EARN2TRADE typically requires a payment upfront for participation in their evaluation process. The cost can vary depending on the program (e.g., the Gauntlet Mini program costs less than the Gauntlet program).
Accepted Payment Methods:
- Credit and Debit Cards: EARN2TRADE accepts payments via major credit or debit cards such as Visa, MasterCard, and American Express.
- Bank Transfers: For those who prefer not to use credit cards, bank transfers are also a popular choice.
- PayPal: This e-wallet service is accepted by many traders for easy online payments and secure transactions.
- Cryptocurrency Payments: Some prop firms, including EARN2TRADE, accept Bitcoin and other cryptocurrencies for payments, making it a convenient and fast option for traders who prefer digital currencies.
Important Notes Regarding Payment Methods:
- Ensure that payments for programs and fees are completed in full to avoid any delays in your application process.
- Discuss the payment security measures EARN2TRADE uses to ensure your payment information is safe.
Prop firms process withdrawals once a week, every Tuesday. To receive your withdrawal on the next Tuesday, you must email your request to the firm by 2 PM on the Friday before.
The minimum withdrawal amount is $100 for both live and LiveSim accounts. If you withdraw more than $500, there are no withdrawal fees. However, banks, payment providers, and crypto exchanges may charge their own fees for each transaction.
If you have a LiveSim account with a non-professional CME status, a one time activation fee of $139 will be deducted from your first withdrawal. This means you need at least $239 in profits ($100 minimum withdrawal + $139 setup fee) to make your first withdrawal.
After your first withdrawal, there are no restrictions on withdrawing your profits once you are funded.
Withdrawal Methods
Traders can withdraw funds using:
- Bank Wire
- Crypto Withdrawal
These withdrawals are processed through Rise, an international contract and payment platform. The prop firm charges a $10 fee per withdrawal, but this fee is waived for withdrawals over $500.
LiveSim Withdrawals
You can get a LiveSim account after completing an Earn2Trade evaluation in one of two ways:
- By passing the Gauntlet Mini evaluation and choosing the LiveSim funding option.
- By passing the Trader Career Path evaluation and choosing the LiveSim funding option.
Gauntlet Mini LiveSim
The maximum withdrawal from a Gauntlet Mini LiveSim account is $4,000. To withdraw the full amount, you need to make a profit of $5,000, as the prop firm keeps 20%. This 20% deduction applies to every withdrawal or at the end of each month, but it will never exceed 20%.
Trader Career Path LiveSim
The maximum withdrawal from a Trader Career Path LiveSim account depends on the profit target, with 20% deducted for the prop firm. Unlike Gauntlet Mini, there are no monthly deductions for these accounts.
Conclusion
EARN2TRADE provides a straightforward payment and payout process for traders who pass their evaluations and move onto funded trading. Payment options for program entry and ongoing payouts are varied and accessible, including credit cards, PayPal, bank transfers, and cryptocurrencies. Traders should always stay updated on their account details and payout preferences to ensure smooth transactions and avoid delays. Understanding the payment and payout methods at EARN2TRADE is key to a smooth trading experience. By offering flexible options, the platform ensures that traders can access their funds quickly and efficiently, helping them focus on what they do best trading successfully in the markets.
Frequently Asked Questions (FAQs)
How long does it take to receive a payout from EARN2TRADE? Typically, EARN2TRADE processes payouts within a few business days. However, it’s important to confirm your payment details, as processing times can vary based on payment methods and international transactions.
What are the payment methods available to deposit funds with EARN2TRADE? EARN2TRADE accepts a variety of payment methods, including credit/debit cards, bank transfers, PayPal, and even cryptocurrencies like Bitcoin.
How do I request a payout from EARN2TRADE? To request a payout, traders must log in to their account on the EARN2TRADE platform, go to the “Payout Request” section, and choose their preferred payment method (e.g., PayPal, bank transfer, or cryptocurrency).
Is there a fee for withdrawing my profits from EARN2TRADE? While EARN2TRADE itself doesn’t charge fees for processing payouts, traders should be aware of any fees associated with their chosen payment method. For example, PayPal and bank transfers might have transaction fees.
Can I change my payout method at any time? Yes, EARN2TRADE typically allows traders to change their payout methods. However, changes might require some verification steps, so it’s important to update your preferences in advance of a payout.
What is the minimum amount I can withdraw from my EARN2TRADE account? The minimum payout amount varies depending on the program, but EARN2TRADE often has a threshold (e.g., $100 or more) that needs to be met before a payout can be processed.
Can I receive payouts internationally from EARN2TRADE? Yes, EARN2TRADE supports international traders and offers payout methods that cater to international markets, such as PayPal and cryptocurrency, making it easier to receive funds regardless of location.
