Evalue8trading.com is offering a funded account program to traders with less capital.
Evalue8trading also claims to provide access to their proprietary trading tools.
However, traders are responsible for paying their own data fees.
The way that this website operates is that traders must pass an “evaluation test” to receive a fully funded account.
Of course any trader who gets involved with this funded account scheme must pay a certain fee and there’s no guarantee of success.
These offers are extremely tempting but the truth is they are all scams.
What exactly does Evalue8trading sell anyway?
They sell funded accounts where traders can “receive between $30,000 and $100,000 in funded account.”
As a result of “trading their live accounts” and sticking to the confines of the parameters, a trader will be eligible to receive 80% of their profits.
To participate in this funded account program, traders are supposed to pay $129, $159 or $319 in monthly subscription fees respectively.
However, there is a 14 day trial which the company claims is free to participate in.
This is a shitty deal, why?
Because the naïve consumer is paying a fee and hoping to win a funded account.
As a matter of fact, this is just a marketing gimmick as no trader will ever “qualify for funding”, thanks to the unrealistic rules and the fact that the company is not interested in funding anybody.
These scams are often found advertising “job offers” on the internet.
A good example is TopstepTrader or TopstepFX which is occasionally putting “job ads” on Glassdoor marketplace.
So how could anyone be so stupid so as to trust them?
Who is the owner of Evalue8trading?
According to who.is, this website was registered in December 2018.
Promotion materials on the official website suggests that the company is run by a team of 8 people.
The co-founder who also claims to be a day trader is called Max Rybinski.
In fact, the Co-founder is proclaiming 10+ years of experience in automated trading.
He is supposedly working with another day trader with 10+ years of experience known as Andrii Vdovenko.
The questions that these dudes should be asked is who is holding the funds that they want to credit to their students’ accounts?
Are brokers involved? If so, which ones? Where are trades by students going to be executed?
And of course we would like to ask who are the people behind the $100,000 funded account?
There is a lot of stuff that Evalue8trading is not telling its clients.
At least we know that to “pass the test”, one has to trade on a simulator.
The rules are definitely absurd. None of the participants are going to win the house.
Trades must be closed within a day of trading because this is a day trading operation.
Loss limits must never exceed a certain amount. And if a student is disqualified, they must regain access to the program by paying $75 to “reset” their trading account.
You know this is baloney. Ultimately, the financially desperate and naive student will keep “resetting” their account to start a fresh.
The truth is that if you are a bad trader, it doesn’t matter how many times you “reset” your trading account. You will still fail.
“We provide Funding” websites are basically a scam.
No matter how they pretend to be professional and honest, the business model will always work to the disadvantage of the trader looking for “funding”.
Thanks for reading.