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  • #9,681
  • Aug 3, 2022 2:56pm Aug 3, 2022 2:56pm
Quoting Nsak3y
{quote}-I get it. I really do. We saw the same thing in 2017 when crypto was exploding. I had ICO's that I was already invested in, that ended up refunding me my money because of my country of residence, just as an example. But the truth is, people will do what they want, no matter what is discussed here. Some people will cry foul when they lose, no matter what. My thinking about it, is that at the very least, people with experience or that bother to take the time to read, can at least explain the obvious red flags and why certain firms should probably...

I dont have any gripe with you mate. The other guy posted a bunch of links with nothing but the links.

One of those in the links arent even offering services... so basically its like "heres the links, you guys do the work"/
  • #9,682
  • Aug 3, 2022 6:14pm Aug 3, 2022 6:14pm
Quoting Takisd
I dont have any gripe with you mate.
-Oh, no, I never thought it. No worries. I just wanted to explain my perspective and reasoning about it. As you say, maybe some do not give much thought to these things.
  • #9,683
  • Aug 3, 2022 8:41pm Aug 3, 2022 8:41pm
Quoting Takisd
{quote} I dont have any gripe with you mate. The other guy posted a bunch of links with nothing but the links. One of those in the links arent even offering services... so basically its like "heres the links, you guys do the work"/
I suspect mixedbags was just being sardonic and he posted with his tongue in his cheek.
Amor Fati--F. Nietzsche
  • #9,684
  • Aug 3, 2022 8:45pm Aug 3, 2022 8:45pm
Quoting Eren10
{quote} In the country where I live, just normal bank account card is the standard. With online payment system there are now better options than credit cards, but some companies don't use them. Just that extra extension stops me from others.
Couldn't you use your normal bank card as a debit card in the Netherlands? That's odd, to say the least.
Amor Fati--F. Nietzsche
  • #9,685
  • Aug 4, 2022 1:31am Aug 4, 2022 1:31am
Quoting doji
{quote} Couldn't you use your normal bank card as a debit card in the Netherlands? That's odd, to say the least.

Normal bankcards works like a debit card but they are not connected to international credit card system.
I was looking to it: there are some free “prepaid debit” cards (more with an app) that we can request. This will take some time I think.
  • #9,686
  • Aug 4, 2022 1:36am Aug 4, 2022 1:36am
Quoting Nsak3y
Even if I do not plan on taking on more accounts through other firms at the moment, I still think that it is good to find and discuss new firms here. I think that this assumption that everyone that is looking for more options is doing so because they are looking for easier targets or because they are not able to fully understand or appreciate the options that are currently available is a falsehood that does little to help this thread. I think that finding new firms and discussing them here should be encouraged. If traders in this space only focused...
I agree with you regarding new companies. I've been making an effort myself to describe my own experience for alternatives to MFF and FTMO.

I just don't agree that the user, as alternative to MFF and FTMO, just picked a bunch of firms without mentioning the ones we do know that paid so far, like TPT, TFF, TFT, E8, etc. He / she even wrote one that doesn't even exist any longer !
At least some comments why those choices are superior to the other ones that we know are paying.

I don't want to be so much negative. To be on the positive side, I can add that from that list I investigated Earn2Trade long time ago and it's bad because they have trailing max DD. And for non US is a really bad firm because one has to fill in some W7 to get W7 form and then have to fill taxes yearly or have someone to do that for us (and that's not like filling the W8-BEN that we do one in regular brokers and don't have to do anything else)
  • #9,687
  • Aug 4, 2022 1:54am Aug 4, 2022 1:54am
I was reading the rules of TFT about max accounts and also watching their video in youtube and realized that if we are already maxed out at 600K we may not be able to scale, even if we have the conditions for doing it. Otherwise we go over the 600K.

I even was in doubt if we have 600K + 15K profits if this is a breach...
  • #9,688
  • Aug 4, 2022 2:25am Aug 4, 2022 2:25am
I was reading the rules of TFT about max accounts and also watching their video in youtube and realized that if we are already maxed out at 600K we may not be able to scale, even if we have the conditions for doing it. Otherwise we go over the 600K.

I even was in doubt if we have 600K + 15K profits if this is a breach...

Edit: on the other side they say we can achieve 1.5M which is well above 600K...
  • #9,689
  • Aug 4, 2022 2:51am Aug 4, 2022 2:51am
Quoting Capablanca
I was reading the rules of TFT about max accounts and also watching their video in youtube and realized that if we are already maxed out at 600K we may not be able to scale
-My impression is that they are describing max capital for funded base accounts (total sum of initial account balances) vs. max capital for challenge base accounts. So, if you have several challenge accounts (e.g. 1.2M worth), and you pass them all, then you can only trade up to 600K worth of those accounts once funded. This has nothing to do with scaling from the way that I understand it.
  • #9,690
  • Aug 4, 2022 3:07am Aug 4, 2022 3:07am
Quoting Nsak3y
{quote}-My impression is that they are describing max capital for funded base accounts (total sum of initial account balances) vs. max capital for challenge base accounts. So, if you have several challenge accounts (e.g. 1.2M worth), and you pass them all, then you can only trade up to 600K worth of those accounts once funded. This has nothing to do with scaling from the way that I understand it.
Or, another interpretation just for funded accounts, you can scale up to 1.5M but the starting point can't be more than 600k...

It has to be like that, otherwise there's no point in speaking about 1.5M funded.
  • #9,691
  • Aug 4, 2022 4:00am Aug 4, 2022 4:00am
There is capital allocation and account balance. They are different. You may only be allowed 600K allocation for the funded Royal program, for example, but you can scale up to 1.5M and even exceed that with account balance via trading profit.

So, for Royal accounts, it might look something like this:

challenge accounts - maximum total (1.2M)
Funded accounts - maximum capital allocation (600K)
Funded accounts (scaling) - maximum scaled capital allocation (1.5M)

Maybe I am wrong, but this is my impression.
  • #9,692
  • Aug 4, 2022 6:57am Aug 4, 2022 6:57am
I was looking at "FTUK" - same address as about 10 other prop firms. very strange

160 City Road,
London, United Kingdom, EC1V 2NX.
  • #9,693
  • Aug 4, 2022 7:20am Aug 4, 2022 7:20am
Quoting Bizziebee
I was looking at "FTUK" - same address as about 10 other prop firms. very strange 160 City Road, London, United Kingdom, EC1V 2NX.
Actually, not strange at all. As I stated yesterday, with the influx of new firms trying to get in the game, there is a much higher % of dodgy, fly by night companies. If we do not guide people to not use them, it is not going to be good for this industry. Mark my words. I have been screwed too many times by regulation. It is the scam companies and those that use them that cause it.
  • #9,694
  • Aug 4, 2022 2:20pm Aug 4, 2022 2:20pm
Just as a matter of clarification, many companies, even legit companies that have been around for years, may use mail services, attorney's offices and other things as their business address. Most offshore brokers operate this way.

This criteria may or may not be sufficient evidence for labeling a service as a dodgy or scam operation. They very well could be a dodgy/scam operation, but they could also be legitimate. This is why you must do your due diligence and preferably never risk more than you are willing to burn in a fire.
  • #9,695
  • Aug 4, 2022 7:21pm Aug 4, 2022 7:21pm
Quoting Bizziebee
I was looking at "FTUK" - same address as about 10 other prop firms. very strange 160 City Road, London, United Kingdom, EC1V 2NX.
I need to put in a good word for FTUK even though I've not traded with them.

Actually, I was going to. In fact, I had paid the signup fee for one of their direct funding plans via Paypal. When I suddenly (to my dismay!) learned that they had switched brokers and started a partnership with 8Cap, I asked for a refund.

To the credit of their very responsive Support team, it was immediately granted
Amor Fati--F. Nietzsche
  • #9,696
  • Aug 5, 2022 7:51am Aug 5, 2022 7:51am
My forex Fund Slipage Is crazy

Ridiculous is almost 10pips for EURUSD
i exit my trade for after NFP
  • #9,697
  • Aug 5, 2022 8:01am Aug 5, 2022 8:01am
Quoting HengkiTjen
My forex Fund Slipage Is crazy Ridiculous is almost 10pips for EURUSD i exit my trade for after NFP
It's NFP day. I do not open ANY of my platforms until after 9:30
  • #9,698
  • Aug 5, 2022 8:34am Aug 5, 2022 8:34am
Well that's to much 10pips slippage
  • #9,699
  • Aug 5, 2022 8:48am Aug 5, 2022 8:48am
Quoting HengkiTjen
Well that's to much 10pips slippage
not at NFP. Quite normal actually. There is absolutely no liquidity at the release.
  • #9,700
  • Aug 5, 2022 8:54am Aug 5, 2022 8:54am
That is why looking at other solid prop firms is a good thing to diversify at least. With TFF I had a hard stop with another major FX and I only got 0.5 to 0.8 pips slippage and that at the same time when NFP data came out. So that feels like having no or minimal slippage with TrueForexFunds. I really appreciate their quoting. Here you go.
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