Prop Firm Hub | Page 249 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #4,961
  • Nov 1, 2021 3:35pm Nov 1, 2021 3:35pm
Quoting Nsak3y
Regarding MFF, It seems possible that they have taken on too much, all at once. Maybe it was unavoidable. Maybe they could have been better-prepared. Maybe they need to hire more staff. Fortunately, they are always working on improving things. Hopefully, they will get on top of it all soon, and everything can be running smoothly, updates and all. That being said, I heard from a little birdie a few weeks ago that Josh was working on a secret project. If you watch the youtube videos, then I am sure that you can guess what it is. I cannot divulge details....

they are expecting to finish new dashboard/automation etc in the coming days. Most of the key people are likely dealing with that.

Support for them is clearly stuffed filled with morons who cant read the website and if they have any issue it just clogs the system up.

FTMO have the things MFF are about to launch so once they launch them i expect their support will become more efficient as well as the number of queries will drop.
  • #4,962
  • Nov 1, 2021 3:55pm Nov 1, 2021 3:55pm
Quoting Fagin
{quote} The only legit no time limit funding method I've found is MFF Rapid, it's not "Free" like you have requested though (why should it be) until you trade it to funded stage and they refund you. I've been paid a withdrawal on it which covers half my cost and now i'm trading it to get the full fee refund and live account. It's a much slower route to funding but I need about 60 days to get to 10% without gambling so suits me. No stocks or options and if you are long term swinging then even if they were they would be CFD's and the holding costs...
Thanks. I mispelled free for fee.


From MFF Rapid:

We will use your broker’s time zone to determine opening and closing of each trading day.
You must follow the minimum days a week rule regardless of your P&L. For example, if you make profit on your first trade, you cannot abruptly stop trading for that week. You must enter 3 trades on 3 different days to meet your minimum trade requirement.

Any indication of “gambling” or erratic behavior change (i.e. increase in LOT sizes, trades per day, risk per trade etc.) will result in account termination with no payment being made.
The following will apply to consisteny enabled accounts. A safe way to increase or decrease your risk parameters is to keep within +/- 200% of your average or deviation by a factor of 2. Two main KPI we use here are trades and lot size. Each week, we will take an average of mentioned KPIs and place a ceiling (avg x 2) and floor (avg / 2) for the trades. Any trades outside these parameters will raise a flag on an account and be a possible violation.


This is absurd.

In fact, they argue that they are not looking for gambling, but is it not forcing opportunities, gambling?

Setting daily goals in terms of money or number of trades is gambling. It is trying to force the market to give an X number of opportunities, and that does not work like that.

Any behavior that they consider "erratic" can cause them to suspend your account and not give you your share of the money.
  • #4,963
  • Nov 1, 2021 4:04pm Nov 1, 2021 4:04pm
Quoting jonander50
{quote} Thanks. I mispelled free for fee. From MFF Rapid: We will use your broker’s time zone to determine opening and closing of each trading day. You must follow the minimum days a week rule regardless of your P&L. For example, if you make profit on your first trade, you cannot abruptly stop trading for that week. You must enter 3 trades on 3 different days to meet your minimum trade requirement. Any indication of “gambling” or erratic behavior change (i.e. increase in LOT sizes, trades per day, risk per trade etc.) will result in account termination...

You are literally talking about being paid to trade a demo account. Which is what rapid, transparently is.

Its a dumb program, its old and was what a lot of firms started with. But its not popular and it sucks, you will not find many people who have a rapid account and I would not be surprised if they get rid of rapid all together because its an old model that no one likes.
  • #4,964
  • Nov 1, 2021 4:07pm Nov 1, 2021 4:07pm
Quoting jonander50
{quote} Thanks. I mispelled free for fee. From MFF Rapid: We will use your broker’s time zone to determine opening and closing of each trading day. You must follow the minimum days a week rule regardless of your P&L. For example, if you make profit on your first trade, you cannot abruptly stop trading for that week. You must enter 3 trades on 3 different days to meet your minimum trade requirement. Any indication of “gambling” or erratic behavior change (i.e. increase in LOT sizes, trades per day, risk per trade etc.) will result in account termination...
Agree, it is a silly rule. I trade the non consistent version to my own rules, lot sizes etc without any problems. Each to their own I guess but at least I’m not gambling to get to a target in 20 trading days…
  • #4,965
  • Nov 1, 2021 4:15pm Nov 1, 2021 4:15pm
Quoting Takisd
{quote} You are literally talking about being paid to trade a demo account. Which is what rapid, transparently is. Its a dumb program, its old and was what a lot of firms started with. But its not popular and it sucks, you will not find many people who have a rapid account and I would not be surprised if they get rid of rapid all together because its an old model that no one likes.
It is over complicated, even their own support staff struggle to explain how the live account is funded from the demo month by month…

In hindsight I should have just gone for the Eval and rolled the dice on a few early on.

But… I’m a stubborn mule and will trade it until I get my fee back. I even pointed out to them that it would save them $1200 to swap me onto Eval instead of paying me 12% from a demo account… needless to say it didn’t sink in
  • #4,966
  • Nov 1, 2021 4:24pm Nov 1, 2021 4:24pm
Quoting Nsak3y
Regarding MFF, It seems possible that they have taken on too much, all at once. Maybe it was unavoidable. Maybe they could have been better-prepared. Maybe they need to hire more staff. Fortunately, they are always working on improving things. Hopefully, they will get on top of it all soon, and everything can be running smoothly, updates and all. That being said, I heard from a little birdie a few weeks ago that Josh was working on a secret project. If you watch the youtube videos, then I am sure that you can guess what it is. I cannot divulge details....
When I do get through to the right people I find them genuinely trying to help me and sought things out. For better or worse I’ve bought into them (for now) and hope these are just growing pains…

It seems they are the only contender to FTMO and once they sought the backend issues I think they will probably head out in front.

I would to like see another genuine large player enter the fray to make it a three horse race.. not seen anyone coming close though at the moment but it’s still a fresh scene isn’t it?
  • #4,967
  • Nov 1, 2021 5:16pm Nov 1, 2021 5:16pm
Quoting Fagin
hope these are just growing pains… It seems they are the only contender to FTMO and once they sought the backend issues I think they will probably head out in front. I would to like see another genuine large player enter the fray to make it a three horse race.. not seen anyone coming close though at the moment but it’s still a fresh scene isn’t it?
-Agree on all points.

I am still waiting to see what happens with Blue Edge, because I really like their offerings. Last I heard, a few traders had completed phase one and were waiting to start phase two. I am curious to see if anyone actually gets funded since I suspect that they are backed by TCF. It should only be a matter of time.

I think that The Prop Trading and True Forex Funds could be possible options as well. I would even consider The Funded Trader if I ever grew to that point.
  • #4,968
  • Nov 1, 2021 5:41pm Nov 1, 2021 5:41pm
Quoting Nsak3y
{quote}-Agree on all points. I am still waiting to see what happens with Blue Edge, because I really like their offerings. Last I heard, a few traders had completed phase one and were waiting to start phase two. I am curious to see if anyone actually gets funded since I suspect that they are backed by TCF. It should only be a matter of time. I think that The Prop Trading and True Forex Funds could be possible options as well. I would even consider The...
I only disagree on the true forex funds one. That one is a clear dumpster fire.

I am funded at capacity at one of the two you listed, it sucks but it was part of my gambling expedition, both are ok secondary options but aren't very nice.
  • #4,969
  • Nov 1, 2021 5:46pm Nov 1, 2021 5:46pm
Sure. These are only possible options; only on-the-surface evaluations have been done based on basic offerings. Mostly like backups to look at later. Everyone should do their own, due diligence, of course.
  • #4,970
  • Nov 1, 2021 6:12pm Nov 1, 2021 6:12pm
Quoting JotaP
{quote} I just opened a 50K E8 account and launched MT4 to have a look. My first impression is not positive: 1) All instrument symbols are mixed together in the symbol list in alphabetical order in a folder named ELEV8 (I actually bought E8). {image} 2) I could not find the AUDCAD symbol anywhere. If 2) is not fixed I will ask for a refund, I already contacted Support about that.
As the outcome of this I lost more than $15.00

Attached Image (click to enlarge)
Click to Enlarge Name: 6302dc07375566b5d76331ab48354588.png Size: 14 KB

And this was the reply I received:

Quote
We never stated we would offer AUDCAD. However if you would like this pair added we can get it added for you. We did not respond to your email yesterday as the office was closed.

We offer a free trial so you can get comfortable with our conditions before trading. We have had 0 complaints regarding our MT4 configurations but we will look into your statements and use this to improve. We have everything under the ELEV8 name by choice. It is just a label on the folder file in MT4 but it has nothing to do with a specific program.

We are happy to to issue your refund.

I don't think it will be necessary to add anything else.
Follow your guts, if you want to lose your money...
  • #4,971
  • Nov 1, 2021 7:03pm Nov 1, 2021 7:03pm
so just asking if someone is really profitable
and by trading with those prop firms
is there is a chance that his trading gets less profitable? why yes/no!
  • #4,972
  • Nov 1, 2021 7:43pm Nov 1, 2021 7:43pm
Quoting Takisd
{quote} I only disagree on the true forex funds one. That one is a clear dumpster fire.
Why do you say that?
It looks identical to MFF eval'
Look Left Trade Right
  • #4,973
  • Nov 1, 2021 8:56pm Nov 1, 2021 8:56pm
Quoting Basill
{quote} Why do you say that? It looks identical to MFF eval'

It looks like it is, but ask MFF about it and see why it isn't. Its a clone company... Stay away from clones.
  • #4,974
  • Nov 1, 2021 9:11pm Nov 1, 2021 9:11pm
Actually, someone in FB group was saying that True Forex Funds already have their ducks in a row as far as automation and turnaround times etc.. Meanwhile, MFF has issued another announcement regarding more delays.

I personally trust MFF over any other firm, though.
  • #4,975
  • Edited 9:44pm Nov 1, 2021 9:28pm | Edited 9:44pm
Quoting Takisd
{quote} It looks like it is, but ask MFF about it and see why it isn't. Its a clone company... Stay away from clones.
I still remember your statement on FT.

As I was trading with FT that time, I did not ( want to) hear you.

Once FT went off, I take your comments as it is..without exception.

You have more experience in dealing with Firms.

It is good for users here.
Intraday only.
  • #4,976
  • Nov 1, 2021 10:17pm Nov 1, 2021 10:17pm
Funded Academy's Extended program just released. Looks like the same thing as Ment Funding offering:

https://www.fundedacademy.com.au/extended-program
  • #4,977
  • Nov 1, 2021 10:42pm Nov 1, 2021 10:42pm
Quoting navk
{quote} I still remember your statement on FT. As I was trading with FT that time, I did not ( want to) hear you. Once FT went off, I take your comments as it is..without exception. You have more experience in dealing with Firms. It is good for users here.
Don't, I'm an idiot.
  • #4,978
  • Nov 2, 2021 5:12am Nov 2, 2021 5:12am
Quoting Nsak3y
Funded Academy's Extended program just released. Looks like the same thing as Ment Funding offering: https://www.fundedacademy.com.au/extended-program
Lol What a let down. I knew there was no way it would be better than anything currently being offered.
Actually, It's worse than Mental Funding... Ment funding offers 100k (5% max DD) account for $750 while these Goofballs offer the same for $1000.
They're more like the other firm Mizi shared... pointzero funding or something like that.
  • #4,979
  • Nov 2, 2021 5:17am Nov 2, 2021 5:17am
By the way, Who do the 5ers think they're fooling with this Bootcamp crap?
It's practically just the previously offered "Summer plan" with a new starting $50 fee.

It's like they realized they were stupid to make it free to try initially seeing as they would barely generate any income from the few traders that made it to the end of the 3 stage summer plan evaluation. So they decided to add a $50 price tag this time.

Still not a bad offering.... just not a good look.
  • #4,980
  • Nov 2, 2021 5:26am Nov 2, 2021 5:26am
Quoting Vitore
{quote} A bit faster than expected (with a bit of luck again Polkadot moved exactly as I anticipated) the verification targets have been met today so I need to trade mini lots again for the next 9 days to formally accomplish the phase.
The Verification phase formally completed and checked on the FTMO client zone. Let's see how quickly FTMO will process the necessary paperwork for the funded account assignment.
Money is made by sitting, not trading
166 traders viewing now