Prop Firm Hub | Page 790 | 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

  • #15,781
  • May 19, 2023 5:09am May 19, 2023 5:09am
Quoting Expo33
EDIT: JUST NOTICED THEY WERE MENTIONED ALREADY POST #15570 I was creeping around on Twitter and saw this new prop firm. Not sure if it has been mentioned yet so here's the scoop. Funded Engineer out of Dubai. https://fundedengineer.com/ Early reviews on Pimp Pilot are decent. One and two-step challenges. Prices aren't anything special but they are with the discounts at the moment. Drawdown and profit targets aren't better than anyone else. However, no time limits on any of the challenges. Purple trading broker. Not recommending them or...

500K is huge. How will they pay if someone makes a good profit. Let's say a person makes with that 100K a year. And will they want to pay. And they have a better scaling plan. Will they run away if someone makes a good profit with those amounts.
  • #15,782
  • May 19, 2023 5:55am May 19, 2023 5:55am
any good prop firms special offers guys? im looking for a good offer
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #15,783
  • May 19, 2023 7:31am May 19, 2023 7:31am
Quoting Eren10
{quote} 500K is huge. How will they pay if someone makes a good profit. Let's say a person makes with that 100K a year. And will they want to pay. And they have a better scaling plan. Will they run away if someone makes a good profit with those amounts.
Could be another scam operation from BigPips owners.
  • #15,784
  • May 19, 2023 7:31am May 19, 2023 7:31am
Quoting Eren10
{quote} 500K is huge. How will they pay if someone makes a good profit. Let's say a person makes with that 100K a year. And will they want to pay. And they have a better scaling plan. Will they run away if someone makes a good profit with those amounts.
The CEO of this company is at least above-average trader, a honest man, according to my impression of his Twitter profile. If you make that money across longer time (1 year), they may start to A-book you or learn from you, which greatly increases payout likelihood. In any case, Do your own due dilegence.
  • #15,785
  • May 19, 2023 8:01am May 19, 2023 8:01am
Quoting solarpower
{quote} The CEO of this company is at least above-average trader, a honest man, according to my impression of his Twitter profile. If you make that money across longer time (1 year), they may start to A-book you or learn from you, which greatly increases payout likelihood. In any case, Do your own due dilegence.
I just wrote because of the message here, further I don't know them. It looks good to be funded with 500 K. Although passing the challenge is time consuming and not done so easily.
  • #15,786
  • May 19, 2023 8:03am May 19, 2023 8:03am
Quoting Boulder
{quote} Here I would agree with FTMO, I think FTMO request is reasonable. maybe they copy live account trades. Here is the FTMO's letter the trader posted on twitter {image}
If you are trading 160 lots on 1 trade and you have a fixed SL and that trade amount is 1% or 2% of your total account equity, I'm sure FTMO or any prop firm wouldn't have any issues with it.

But what's the full story? Is he trying to trade 160 lots with a $10,000 account with no SL during high impact news? Any prop firm with half a brain wouldn't let a trader like that anywhere near their money. I sure wouldn't.
  • #15,787
  • May 19, 2023 8:04am May 19, 2023 8:04am
Quoting Boulder
{quote} Forgot I need to update my payment experience with MFFX. My first profit split was done very smoothly the other day. Simplely clicked 'withdraw' in the dashboard and was sent to Deel to sign a contract, wait for confirmation, all done wihin a few hours, my money was on the way. credit to my bank on 2nd day. No need email them anything, all done on dashboard
So far good experience with them. I hope I can have my first profit split in 14 days time.
Attached Image (click to enlarge)
Click to Enlarge Name: CksiVnz.png Size: 52 KB

I'll go ahead to purchase 2 more challenges just to take advantage of this May promotion.
  • #15,788
  • May 19, 2023 8:13am May 19, 2023 8:13am
Quoting Nsak3y
Because at the end of the day, we can keep complaining that things aren't perfect, or, we can accept that the benefit of the opportunity still outweighs the trade-offs of working at the circus.
That's why I always presume that all props are gangsters until proven otherwise. The only one that I have not seen doing bad things recently is MFF. For all the others I consider them thugs and that how I deal with them.
FTMO used to address things in FF but recently either they don't participate or they just ignore.
  • #15,789
  • May 19, 2023 8:22am May 19, 2023 8:22am
Quoting failinforex
{quote} So far good experience with them. I hope I can have my first profit split in 14 days time. {image} I'll go ahead to purchase 2 more challenges just to take advantage of this May promotion.
Well done...
I have two live accounts with them already, I plan to get my third soon before the promotion expires.
  • #15,790
  • May 19, 2023 1:22pm May 19, 2023 1:22pm
I'm looking for prop firms which have leverage of 1:100 on Gold and other metals. Can anybody suggest me some prop firms?
  • #15,791
  • May 19, 2023 1:53pm May 19, 2023 1:53pm
Quoting Capablanca
{quote} That's why I always presume that all props are gangsters until proven otherwise. The only one that I have not seen doing bad things recently is MFF. For all the others I consider them thugs and that how I deal with them. FTMO used to address things in FF but recently either they don't participate or they just ignore.
MFFX was good too no ? Blue Guardian is also on the good way I think. But I agree: no one can currently compete with MFF
  • #15,792
  • May 19, 2023 2:35pm May 19, 2023 2:35pm
Quoting Capablanca
That's why I always presume that all props are gangsters until proven otherwise.
-Absolutely. But these are gangsters that we want to try to profit off of for as long as possible. After all, that is what they want to try to do with us. It's fair game. But people should not be trying to game the system (or be excessively greedy); there is just no reason for it unless you absolutely have no trading ability whatsoever. And even then, I would not advocate that kind of practice simply because the time-cost involvement will not compete with learning how to trade properly.

From a risk-mitigation perspective, we should approach things as if these firms will be gone tomorrow (even MFF). From a sustainability perspective, we should approach things as if we are trading our grandmother's money (with reasonable risk, under the radar).

As such, traders should try to accumulate as many accounts as possible across as many reputable firms as possible to ensure the greatest risk-mitigation efforts while allowing for the best risk-to-reward ratio, because the more accounts that you have, the lower your profit targets can be (and risk), all without impacting your profit-potential. This is the key.

People that are trading a single account and swinging for the fences, giving no respect to the firm's capital, are not only bad for the model, but are really just doing themselves (and others) a disservice.
  • #15,793
  • May 19, 2023 2:47pm May 19, 2023 2:47pm
Quoting Nsak3y
{quote}-Absolutely. But these are gangsters that we want to try to profit off of for as long as possible. After all, that is what they want to try to do with us. It's fair game. But people should not be trying to game the system (or be excessively greedy); there is just no reason for it unless you absolutely have no trading ability whatsoever. And even then, I would not advocate that kind of practice simply because the time-cost involvement will not compete with learning how to trade properly. From a risk-mitigation perspective, we should approach...

Bro it is all waste of time. If you have a strategy with real proven trading edge you don't need capital since you have access to leverage and basically unlimited liquidity. Money can be made quite quickly without any capital injections. These crooks at online prop firms make money as lead generators or from various fees and commissions. Period.
  • #15,794
  • May 19, 2023 2:53pm May 19, 2023 2:53pm
Quoting pizd0s
Bro it is all waste of time. If you have a strategy with real proven trading edge you don't need capital since you have access to leverage and basically unlimited liquidity. Money can be made quite quickly without any capital injections. These crooks at online prop firms make money as lead generators or from various fees and commissions. Period.
-Respectfully, this is pure nonsense. I can use $1,389 of my own capital and receive $36,000 worth of draw-down allowance. That's over 20x my initial investment. I can repeat this across multiple firms, using multiple accounts/brokerages to further-mitigate risk and increase my overall profit-potential.

The only reasons to not consider using these firms:

1. You are not ready yet (lacking money, experience etc.).
2. You are not allowed (country of residence is prohibited or trading is not legal there etc.).
3. You already have 6+ figures of your own money to trade with, rendering the time-involvement not worth the effort.
  • #15,795
  • May 19, 2023 3:39pm May 19, 2023 3:39pm
Vitek responded:

Quoting Vitek-ftmo
...
"Hello Nsak3y, first of all, your concern is absolutely understandable. Considering the size of our company, our legal team conducts extensive analyses of different regions and countries, ensuring that we always stay 100% compliant and all the laws and regulations all over the world. One of these analyses showed us that in a few certain US states, the local jurisdiction is generally not very positively disposed towards Forex, trading, etc. After several extensive discussions, we decided to precautionarily pull out of these states to avoid possible future inconveniences that could be very time-consuming to deal with. It was therefore 100% our own decision to put this precaution into effect. As we don’t see any similar threats elsewhere, there’s no need to worry that other states would follow soon."
  • #15,796
  • May 19, 2023 3:47pm May 19, 2023 3:47pm
Quoting Nehemah
{quote} MFFX was good too no ? Blue Guardian is also on the good way I think. But I agree: no one can currently compete with MFF
MFFx had a bad episode in the beginning. They suspected a guy was doing reverse trading and asked him if he was trading elsewhere. The guy said yes and they wanted him authorization to check those accounts. They were completely destroyed by critics in the prop group and I think they learned the lesson.

As far as I see, now they are trying to do the things quite well from the trader perpective keeping rules simple, credential fasts, good spread, decent executions, fast payouts, no downtime, a quick customer service and CEO is quite communicative, not hiding and addressing issues in a positive way.

Let's see if they survive. If they do and they keep the operation like this MFFx has potential to be a top prop. They are one of the most expensive though, if we consider Target and DD.
--------
Blue Guardian I don't trust much, despite I have already received one payout+fee refund. All is fast, including payout, I must say. Good spreads and almost no slippage (in forex).

However the CEO behaves like a kid and seems not taking well when confronted with things. Same style than BeSpoke's CEO.

Furthermore he brags that they belong to some sort of pool that has a system to analyze trades from several companies. Don't know what personal data may be involved in this sharing operation.
They seem to be the more relaxed in rules which for a new company, without muscle and good risk management, can be a problem.
Lets see....

Good to remind, as well, that they relaunched Blue Guardian. They had a very bad reputation for refusing funding after people passing 2 phases, based in "we don't like your risk". They eliminated that but the CEO is the same so we need to be cautious.
  • #15,797
  • May 19, 2023 4:17pm May 19, 2023 4:17pm
Quoting Capablanca
{quote} MFFx had a bad episode in the beginning. They suspected a guy was doing reverse trading and asked him if he was trading elsewhere. The guy said yes and they wanted him authorization to check those accounts. They were completely destroyed by critics in the prop group and I think they learned the lesson. As far as I see, now they are trying to do the things quite well from the trader perpective keeping rules simple, credential fasts, good spread, decent executions, fast payouts, no downtime, a quick customer service and CEO is quite communicative,...
I also noticed that Matt is now very cautious in the Telegram group and he is on the lookout. MFFX grew very quickly and they became a must-have prop firm. (even if they still haven't solved their very low DD)


Regarding BG and their system to analyse trades for several compagnies, do you really believe that ? To begin with, in my opinion, this is completely illegal. It's my own opinion too but I also think they're bluffing. This paranoid aspect that certain props have is quite amusing
  • #15,798
  • May 19, 2023 4:27pm May 19, 2023 4:27pm
Quoting Nehemah
Regarding BG and their system to analyse trades for several compagnies, do you really believe that ? To begin with, in my opinion, this is completely illegal. It's my own opinion too but I also think they're bluffing. This paranoid aspect that certain props have is quite amusing
We know some companies are doing it (they closed down some big operations that were reverse trading in several companies). No way of doing thet without sharing some data.
Re Blue Guardian there's a guy in Trust pilot claiming he was not paid and Blue assumed he was reversing with other company. The same was said by the CEO in prop group when confronted with the o payment claim. He mentioned the pool of companies and the system.
Either they invented that for not paying (which is bad) or this pool is real (which is bad as well).
https://www.trustpilot.com/reviews/6...6ca7dfea07e235
  • #15,799
  • May 19, 2023 4:29pm May 19, 2023 4:29pm
From MFF Discord: (bold is mine)

Hello @everyone There is a news circulating claiming to be an “MFF leak” which contains zero authenticity.

Our hosting provider, which hosts other tier 1 websites and companies, has clearly communicated to us that there has not been any database leak nor a security compromise on our end.

We have heightened the security towards them as a precaution. The information contained in this “leak” seems to be from a old database of another firm. We have cross referenced and found some of the users’ credentials to be working in other firms. This may be due to users’ preference of keeping the passwords same. We already have addressed that by force resetting those passwords that are mentioned in the “leak”.

Furthermore, the relevant authorities are already aware of this incident and are in the process of taking the necessary legal action to stop this individual. Canadian authorities have also been engaged for an extortion case to ensure that the person involved is put to justice. Until the situation is resolved, we have decided to disable discord chat so that the they are not spammed from this individual and create unnecessary panic.

Please note, that any link sent to you can be used for phishing attempts and can compromise your PC/Phone if opened. Trading platforms have not been affected and its business as usual for our traders.
-------------------------
Second message:

We are just about to open up the discord and we are very grateful for your patience. Last Thursday one of the pages on our site was attacked and brought down, disabling peoples ability to purchase.

A character from discord appeared claiming to be the person responsible. We managed to negotiate to get the page up and continued communicating with said person whilst getting our counter-ops team working on tracking down the person.

We continued to buy time whilst we tracked this person down.

When we clearly had no intention to pay this person any additional ransom, he became belligerent and started to claim he had our database.

To prove he had our database he sent a large number of sample logins, which we went through and tested, some never existed, most didn’t work very few did but hadn’t purchased a program from us in a very long time and had no active accounts. We forced password changes on any of those emails that were in our Database. We traced the source of this list to a previously stolen database (not ours) and two phishing websites which we have had taken down. The logins that worked, we tested at other companies too and unfortunately they worked, it’s a case of a user having the same password in multiple prop firms (if this is you, change your password immediately at all prop firms).

Our lawyers are communicating with all resources he used to perform this act and will be taking it from here. We have the persons identification. Anyone who communicated with this individual or purchased the database he was offering should likely get in touch as they will end up getting caught up in this and although its poor form to try to buy a database that doesn’t belong to you, you are not our intended target and you basically got swindled.

Once again, thank you everyone for your patience and kindness during this period. We truly appreciate it.
  • #15,800
  • May 19, 2023 4:34pm May 19, 2023 4:34pm
From TFT regarding the screw up they had with slippage

FINAL UPDATE REGARDING SERVER ISSUE

I want to first start off by saying we are deeply frustrated by this issue that occurred last week. We want to take accountability for what was done and with that I would like to share with you the final update regarding the situation. All trades taken between Wednesday night May 10th 7:25 pm est and Friday May 12th 5:00 pm est will be eligible for compensation. All affected accounts will have 5 days added to their challenges. If your account was breached and you are eligible for compensation your account will be unbreached.

We are coordinating closely with Eightcap in order to configure our server correctly to withstand the large volume that our business is doing. Eightcap needs to work closely with ourselves and that comes with the challenges of coordinating with a global team that works in opposite timezones as our core team. In going live with the settings we saw issues which needed to be reverted back.

Due to time differences we were unable to swiftly make changes in a timely manner. This is a lesson to us that we need to do a better job internally at coordinating with our partner. Eightcap has supported our business tremendously over the past 1 year allowing us to reach heights that even they may not have believed was possible. Pushing the limits comes with risks and our teams are working closely to understand how to better support this rapidly growing business. We value our partnership with them tremendously and along with TFT, Eightcap has transformed the prop trading industry into what it is today. We are close to offering new brokerage options on Purple Trading (MT4, MT5, CTrader) and ThinkMarkets (MT4, MT5).

Each of them are giving us dedicated servers, increased access to configurations, 24/7 support and extended operational support. These new options will feature similar conditions to Eightcap as I have shared in the past there will always have to be a balance between spreads, commissions and execution in the prop firm business. Our goal is not to make one offering better then the other, it is to simply offer these world class partners to extend their platforms to our clients in order to create more stability and options for our traders based on their own preferences.

This situation has been difficult to manage, more so then any situation in the past mainly becasue of the size of this company. For that we are grateful to our support team, management team, external vendors and partners for working AROUND THE CLOCK to get this sorted. We have contacted all of the people affected and ask that you follow instructions via email in order to get compensated. We will make sure moving forward we properly test, coordinate, and communicate with our community to ensure this does not happen again.
177 traders viewing now