Most proprietary trading firms tell you how much they have paid out. Almost none tell you how many people fail. Earn2Trade does — and the number it publishes reframes how the whole sector should be read. In 2025, on the firm’s own disclosure, 8.89% of candidates passed its Trader Career Path or Gauntlet Mini examinations. The brand term draws about 2,100 US searches a month at a keyword difficulty of 2 (Ahrefs, Measured, July 2026), making this one of the more under-covered names relative to how much verifiable information it puts on the record.

Key terms, from the firm’s own published pages

• Legal entity: Earn2Trade LLC, Sheridan, Wyoming — a US-registered company rather than the offshore structures common in this sector (Earn2Trade terms and conditions).
• Trader Career Path: $25,000, $50,000 or $100,000 virtual accounts, evaluation from $60, scaling up to $400,000.
• Gauntlet Mini: $50,000 to $200,000 virtual accounts, evaluation from $68; the funded account matches the evaluation size selected.
• Drawdown: fixed, not trailing — the structural difference from most futures competitors.
• Consistency requirement: 30%. Minimum trading days: none.
• Payouts: weekly, from a $100 minimum. No recurring subscription fee once funded; the activation fee is deducted from profits on first withdrawal rather than charged upfront.
• Markets and platforms: futures only across CME, COMEX, NYMEX and CBOT, traded via Tradovate, NinjaTrader (Legacy), Rithmic, TradingView or Finamark.

The pass-rate disclosure, and what it actually implies

Earn2Trade publishes three figures for 2025 that almost no competitor discloses. First: “In 2025, 8.89% of candidates passed the Trader Career Path® / Gauntlet Mini™ examinations,” calculated on subscriptions passed against new subscriptions. Second: of candidates who passed an exam or progressed, 5.23% traded a Live account and 94.77% traded a LiveSim account. Third: “In 2025, 18.04% of Live accounts and 18.20% of LiveSim accounts had at least one withdrawal from them” (Earn2Trade disclaimer).

Chain those together and you get a number the firm does not state. If 8.89% of new subscriptions pass, and roughly 18.2% of the resulting accounts ever record a single withdrawal, then approximately 1.6% of people who buy an evaluation reach a first payout. Put the other way: about 98 in every 100 entrants pay a fee and never withdraw anything. That is not an accusation against Earn2Trade — it is arithmetic from Earn2Trade’s own published data, and there is no reason to believe the equivalent figure is better at firms that decline to publish theirs.

The second disclosure deserves separate attention. Only 5.23% of those who progressed traded a Live account; 94.77% were on LiveSim. Traders assuming that “funded” means live capital in the market should read that line carefully. It means the overwhelming majority of Earn2Trade’s funded population is trading a simulated account whose profits the firm pays from its own balance sheet — which is the standard model sector-wide, but is rarely quantified this precisely.

“Prop firms are mostly scams, will never pay. They have made algorithms and rules that will make you fail. Trade with your own money, best thing to do, now that you’re consistently profitable. You’ll make it back”

— u/Conscious-Ice9827, posting in r/Trading, July 2026

That view is common and, on the payout question, overstated: Earn2Trade’s own numbers show withdrawals do happen, at roughly 18% of accounts. The more defensible reading is not that payouts are fictional but that the funnel is narrow, and the firms that publish the funnel are doing something the sceptics should credit.

Fixed drawdown is the real product difference

The most consequential term at Earn2Trade is not the split — it is the drawdown mechanic. Earn2Trade applies a fixed drawdown. The threshold is set at the outset and does not chase the account balance upward.

Compare that with the two largest futures competitors. Topstep uses a trailing maximum loss limit that trails the highest end-of-day balance rather than intraday equity, rising as the closing balance grows and never moving down. Apex Trader Funding’s trailing drawdown follows the unrealised intraday high, and stops trailing only once the account reaches starting balance plus maximum drawdown plus $100, at which point it locks $100 above the starting balance.

The practical effect is that at Apex an unrealised intraday spike permanently raises the level a trader must stay above, even if the trade is given back before the close. Traders who scale into winners and manage them actively are the ones who get caught by this, and it is the single most common source of confusion in futures prop accounts. A fixed drawdown removes that failure mode entirely. It is worth more than several percentage points of profit split to a certain kind of trader — and worth nothing to a trader who never runs large unrealised gains.

How Earn2Trade compares on the numbers

Term	Earn2Trade	Topstep	Apex Trader Funding
Drawdown type	Fixed	Trailing on end-of-day balance	Trailing on intraday unrealised high; locks $100 above start
Daily loss limit	None published	Enforced on every account	No hard daily limit on most account types
Profit split	Published per programme; no monthly fee once funded	100% of first $10,000, then 90/10	100% of first $10,000 per account, then 90/10
Evaluation cost	From $60 (Career Path) / $68 (Gauntlet Mini)	$150/month ($30K) to $375/month ($150K)	One-time fee, 30-day window
Minimum trading days	None	Applies	Applies by programme
Payout cadence	Weekly, $100 minimum	Twice weekly (Monday and Thursday)	Per programme schedule
Publishes pass-rate data	Yes — 8.89% (2025)	Not published	Not published

Sources: firm-published terms and disclosures as at July 2026. See also The Industry Spread’s Apex Trader Funding review. Last updated: July 27, 2026.

Two caveats on that table. First, both Apex and Topstep changed structure materially in early 2026 — Apex launched a new product structure on March 1 and Topstep changed its profit split for new members on January 12 — so any figure carried from a 2025 comparison is stale. Second, Earn2Trade’s headline split is programme-dependent and the firm does not lead with a single number in the way its competitors do; traders should read the specific programme terms rather than a summary.

What could not be verified

Three things. Earn2Trade does not publish audited payout totals — the withdrawal percentages are self-reported, like every figure in this sector, and no third party attests to them. The firm does not publish the fixed drawdown amount per account size on its front page, so the actual risk threshold requires reading the individual programme terms. And while Earn2Trade LLC is a Wyoming-registered entity, US registration is not US regulation: the firm is not authorised by the Commodity Futures Trading Commission (CFTC) or a member of the National Futures Association in respect of these evaluation products, and traders should not read a Wyoming filing as prudential oversight.

Regulatory posture

Earn2Trade LLC is registered in Sheridan, Wyoming. It is not a regulated financial services firm, and the evaluation and LiveSim products are simulated environments. A minority of progressed accounts — 5.23% on the 2025 disclosure — trade live. As with the rest of the sector, there is no compensation scheme or ombudsman behind a payout dispute; the contract is the only recourse.

The perimeter is shifting, though, and a US-domiciled firm with published statistics is comparatively well positioned for it. The Industry Spread has covered how prop trading regulation is diverging as the CFTC acts and ESMA waits, and how EU regulators are weighing whether to pull prop trading inside MiFID II. Mandatory pass-rate disclosure is among the likelier first requirements in any future regime — which would make Earn2Trade’s voluntary disclosure a head start rather than a liability.

FAQ

What is Earn2Trade’s pass rate?

The firm discloses that 8.89% of candidates passed the Trader Career Path or Gauntlet Mini examinations in 2025, calculated as subscriptions passed against new subscriptions. It also discloses that 18.20% of LiveSim accounts and 18.04% of Live accounts recorded at least one withdrawal that year. Combined, those figures imply roughly 1.6% of entrants reach a first payout.

Does Earn2Trade use a trailing drawdown?

No. Earn2Trade applies a fixed drawdown, meaning the loss threshold does not follow the account balance upward. This differs from Topstep, which trails the highest end-of-day balance, and Apex Trader Funding, which trails the intraday unrealised high before locking $100 above the starting balance. Fixed drawdown suits traders who run large unrealised gains intraday.

Is Earn2Trade regulated?

No. Earn2Trade LLC is registered in Sheridan, Wyoming, but is not authorised by the CFTC or a member of the NFA for these evaluation products. Accounts are predominantly simulated: on the firm’s 2025 disclosure only 5.23% of progressed candidates traded a Live account. US company registration should not be read as prudential supervision.

How much does Earn2Trade cost?

Evaluations start from $60 for the Trader Career Path and $68 for the Gauntlet Mini, with account sizes from $25,000 to $200,000 depending on programme. There is no recurring subscription fee once funded, and the activation fee is deducted from profits on the first withdrawal rather than charged upfront. Verify current pricing directly with the firm.

How do Earn2Trade payouts work?

Funded traders can withdraw weekly, subject to a $100 minimum. The firm publishes withdrawal-incidence data rather than total payout figures: 18.20% of LiveSim accounts had at least one withdrawal in 2025. No third party audits these numbers, so they remain self-reported like every payout claim in the sector.

What markets can you trade at Earn2Trade?

Futures only, across the CME, COMEX, NYMEX and CBOT exchanges. Supported platforms are Tradovate, NinjaTrader (Legacy), Rithmic, TradingView and Finamark. Traders looking for forex or CFD products will need a different firm; this is a futures-specialist offering.

This review is independent editorial analysis and is not financial, investment, or trading advice, and is not an endorsement or solicitation. The Industry Spread has no affiliate or referral relationship with the firms covered. Proprietary trading challenges carry a fee that is generally non-refundable, most participants do not reach a funded account, and funded capital is the firm’s capital, not the trader’s. Terms change frequently — always verify current rules directly with the firm before paying any fee.