Yet another prop firm that doesn't like to pay
Yet another prop firm that doesn't like to pay
This is a repost because this company keeps adding a response that is neither accurate nor relevant. The response claimed that they paid me $25000, which is way higher than the real number. They also kind of prove my point that the best traders get banned for making too much. I failed 2 live accounts in 2.5 years, yet they refer to "cycling live accounts" as an unsustainable practice. None of what I am saying is actually disputed, so you can make your decision based on this; you can get a few payouts, but ultimately once you fail a very restrictive live account that is the end of the road, so this is not a long term solution for traders who ever make mistakes or bad trades once in a while.
While I did get a few payouts, eventually they banned me for making too much. They called it an "unsustainable business practice" to keep traders around who make too much from the funded accounts. That should tell you everything you need to know. They change the rules all the time. They tried to withhold a bunch of my money until two weeks of insisting, then later they admitted it was owed to me.
Live traders get banned permanently after one or two attempts, but traders who repeatedly fail evaluations are allowed to keep blowing their money... Doesn't add up.
I emailed the CEO too, and he was rude, and didn't care at all for the feedback he asked for. To top it off they banned my IP from the website, so I can't even remove my personal details or check my own billing or payment details.
This is a repost because this company keeps adding a response that is neither accurate nor relevant. The response claimed that they paid me $25000, which is way higher than the real number. They also kind of prove my point that the best traders get banned for making too much. I failed 2 live accounts in 2.5 years, yet they refer to "cycling live accounts" as an unsustainable practice. None of what I am saying is actually disputed, so you can make your decision based on this; you can get a few payouts, but ultimately once you fail a very restrictive live account that is the end of the road, so this is not a long term solution for traders who ever make mistakes or bad trades once in a while.
While I did get a few payouts, eventually they banned me for making too much. They called it an "unsustainable business practice" to keep traders around who make too much from the funded accounts. That should tell you everything you need to know. They change the rules all the time. They tried to withhold a bunch of my money until two weeks of insisting, then later they admitted it was owed to me.
Live traders get banned permanently after one or two attempts, but traders who repeatedly fail evaluations are allowed to keep blowing their money... Doesn't add up.
I emailed the CEO too, and he was rude, and didn't care at all for the feedback he asked for. To top it off they banned my IP from the website, so I can't even remove my personal details or check my own billing or payment details.
Response from Elite Trader Funding
I understand the frustration, but I need to be straight with you about what you're describing. You've received over $25,000 in payouts from us. That's real money we paid you. The system worked exactly as intended, and you benefited from it significantly.
Sim funded accounts pay real money from simulated gains. That model is not sustainable for any business long term. The entire point of our evaluation path is to identify talented traders and move them into live markets where we put up real capital and create a genuine partnership. When you profit in live, we both win. That's the business. Live trading is harder. Of course it is. Real fills, real market conditions, real consequences. That's not a flaw in our system, that's just trading. If sim were the same as live, everyone would be profitable and prop firms wouldn't exist.
I get that failing a live account sucks, especially after working hard to get there. But the framing of "ETF treats its longest tenured traders poorly" doesn't match up with someone who has withdrawn over $25k. We moved you to live because you showed talent. We funded you with real capital. We took a real risk on you. The policy around re-evaluation after live failure exists because if traders can cycle indefinitely between sim payouts and live failures, that's not a trading business, that's just arbitrage against our sim environment.
I'm genuinely sorry the live account didn't work out the way you hoped. Trading is hard. But I'd push back on the characterization that we're not a viable long term partner. We're a viable partner for traders who can perform in live markets, and that's ultimately what prop trading is.
I think this is a good place to stop this conversion as I will no longer entertain it. Have a great rest of your week and happy holidays!
Thank you
Sim funded accounts pay real money from simulated gains. That model is not sustainable for any business long term. The entire point of our evaluation path is to identify talented traders and move them into live markets where we put up real capital and create a genuine partnership. When you profit in live, we both win. That's the business. Live trading is harder. Of course it is. Real fills, real market conditions, real consequences. That's not a flaw in our system, that's just trading. If sim were the same as live, everyone would be profitable and prop firms wouldn't exist.
I get that failing a live account sucks, especially after working hard to get there. But the framing of "ETF treats its longest tenured traders poorly" doesn't match up with someone who has withdrawn over $25k. We moved you to live because you showed talent. We funded you with real capital. We took a real risk on you. The policy around re-evaluation after live failure exists because if traders can cycle indefinitely between sim payouts and live failures, that's not a trading business, that's just arbitrage against our sim environment.
I'm genuinely sorry the live account didn't work out the way you hoped. Trading is hard. But I'd push back on the characterization that we're not a viable long term partner. We're a viable partner for traders who can perform in live markets, and that's ultimately what prop trading is.
I think this is a good place to stop this conversion as I will no longer entertain it. Have a great rest of your week and happy holidays!
Thank you