Endless Discounts and Promos! (If it sounds too good too be true...)
Still awaiting the "evidence" from ETF as to how it was determined I was "gaming in their simulated environment".
Being that I am a verified profile on here and do business with many other prop firms I would urge them to put forth the evidence to back up that claim or promptly remove their response to my previous review.
(See my previous reviews for further details)
And again I am simply asking for the exact rules they have in place when it comes to this. So others reading this review don't break the same made up rules.
So once again.
1. Is there a rule against Stop/Take Profit/Limit Orders?
2. How far away from the current market is the limit on those orders if so.
I got a payout denied and 6 funded accounts wiped with 20k in profits because of a single Take Profit order that filled for $100 profit for reference. (This was deemed gaming their simulated environment)
I think for the sake of everyone reading this and thinking of trying to fund with you guys you should at least answer those 2 questions because again it says NOWHERE IN YOUR TERMS.
I'd like to note, I have done business with the good the bad and the ugly of prop firms in the past years (ETF has been the ugliest by far, but I digress)
One of the biggest red flags from any prop firm is when they start adjusting their fee structures/running endless promos.
ETF has done both in the last 3 months...
Basically running an endless 80-90% off promo along with a ridiculous amount of weird add-ons and an increase to their funded account fees.
Legit prop firms rarely if ever run promos other than maybe once or twice a year.
Because there has to be a careful balance between the money coming in from evals and funding payouts.
In this case it's not a surprise when you look through all the 1 star reviews on here that have been piling up in the same timeframe... they can basically give evals away when they will use literally anything to deny a payout.
Just in case any were wondering the legal/arbitration process for trying to claw back any of these funds is pretty tedious, and when it comes down to it, its hard to claw back anything other than eval/funding fees with simulated profits being such a gray area... They know this, which is why when it comes down to it it's easier/more cost effective for them to close accounts than payout.
Being that I am a verified profile on here and do business with many other prop firms I would urge them to put forth the evidence to back up that claim or promptly remove their response to my previous review.
(See my previous reviews for further details)
And again I am simply asking for the exact rules they have in place when it comes to this. So others reading this review don't break the same made up rules.
So once again.
1. Is there a rule against Stop/Take Profit/Limit Orders?
2. How far away from the current market is the limit on those orders if so.
I got a payout denied and 6 funded accounts wiped with 20k in profits because of a single Take Profit order that filled for $100 profit for reference. (This was deemed gaming their simulated environment)
I think for the sake of everyone reading this and thinking of trying to fund with you guys you should at least answer those 2 questions because again it says NOWHERE IN YOUR TERMS.
I'd like to note, I have done business with the good the bad and the ugly of prop firms in the past years (ETF has been the ugliest by far, but I digress)
One of the biggest red flags from any prop firm is when they start adjusting their fee structures/running endless promos.
ETF has done both in the last 3 months...
Basically running an endless 80-90% off promo along with a ridiculous amount of weird add-ons and an increase to their funded account fees.
Legit prop firms rarely if ever run promos other than maybe once or twice a year.
Because there has to be a careful balance between the money coming in from evals and funding payouts.
In this case it's not a surprise when you look through all the 1 star reviews on here that have been piling up in the same timeframe... they can basically give evals away when they will use literally anything to deny a payout.
Just in case any were wondering the legal/arbitration process for trying to claw back any of these funds is pretty tedious, and when it comes down to it, its hard to claw back anything other than eval/funding fees with simulated profits being such a gray area... They know this, which is why when it comes down to it it's easier/more cost effective for them to close accounts than payout.
Response from Elite Trader Funding
Thank you for the amazing feedback! Your review contains misleading information and unfounded claims that do not accurately reflect our policies or practices.
We urge you to refrain from posting false or inaccurate information about our services and processes. Our policies are clearly outlined and available for all traders to review prior to participating. Any actions taken, are based on documented violations of those rules and are not arbitrary decisions.
ETF Team
We urge you to refrain from posting false or inaccurate information about our services and processes. Our policies are clearly outlined and available for all traders to review prior to participating. Any actions taken, are based on documented violations of those rules and are not arbitrary decisions.
ETF Team