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  • #16,641
  • Jun 13, 2023 11:59am Jun 13, 2023 11:59am
Quoting 1odi
{quote} cool, just read about it now, so at best they ll try and force props to not take us citizens then?
or props make sure they pay US citizens so no one complains to CFTC or SEC.. just a thought..
  • #16,642
  • Jun 13, 2023 12:16pm Jun 13, 2023 12:16pm
Quoting Boulder
or props make sure they pay US citizens so no one complains to CFTC or SEC.. just a thought..
-I would personally be okay with it if everyone was paid.

But a serious consideration...

I would bet that if a firm couldn't pay someone out, and told that person that it could be another month or two before they can do so, that most people would probably be okay with that in lieu of not getting paid.

Or, perhaps, terms that state that any payout over 50k may require between 3 to 6 months to process (or whatever scheme). Better than not getting paid anything and the firm's reputation getting ruined.

It is not uncommon to have 90-day net terms on an invoice. I typically work with 30-day net terms, myself, with one of my other businesses.
  • #16,643
  • Jun 13, 2023 12:30pm Jun 13, 2023 12:30pm
Quoting pipmaster77
https://www.cftc.gov/PressRoom/PressReleases/8716-23 CFTC adds 45 entities to it's "red list". All of my old offshore brokers ar there. From the prop space, only one is True Forex Funds The red list is good in a way, they generally cannot threaten or shut these entities down, that is why they "must protect us from ourselves" through the red list.
So if the Hungary based TFF made it to the list how do you think the US based props will be handled. The process could already have started.
  • #16,644
  • Jun 13, 2023 12:39pm Jun 13, 2023 12:39pm
Quoting 1odi
{quote} in order to do something like that i d imagine they d need a high nr of real cases (complaints) plus, they d have to prove that the prop firms are fraudsters? how else can they enforce something like that? it s just unreal imo atleast. there will always be cheaters, thiefs and so on, but u can t just set whatever laws u want. let s keep every1 working in factories then on minimum wage so there are no more investing issues joking ofc but seems highly unlikely that scenario.
Exactly what they want. In the US, money helps money. They do not want "little people" to do better. In 2009, there wer 100+ forex brokers available to US citizens. There are now 4, unless you go offshore. We could trade with ICMarkets, Pepperstone, Tickmill, Dukas......all highly regulated brokers from around the worls. They put an end to all of that. So, yes, they can and will do what they want when they want, all under the "protecting us from ourselves" bullshit.
  • #16,645
  • Jun 13, 2023 12:41pm Jun 13, 2023 12:41pm
Quoting Nsak3y
This is why that are often accused of overreach and bullying, because not only do they drive business overseas, but then they go out of their way to try to bully anyone that dares to provide services to their citizens without playing by their rules and paying their fees etc.. It's a joke, really.
Exactly. The point is that if a company in Croatia or Latvia gets notified by an US entity, with all the risks you mention, it's possible they will minimize the risk and cut Americans off.

If the notification was coming from Burundi or Chile they would laugh at the letter, clean their ass with it and go on working normally.
  • #16,646
  • Jun 13, 2023 12:41pm Jun 13, 2023 12:41pm
Quoting 1odi
{quote} the US brokers. is CFTC the golden standard for the whole world to follow? i hope not.
The entire point of regulating the brokers out of the US was simply to force everyone back to futures. The big money in Chicago basically paid off whoever to make it happen. Just like everything works here in the good 'ole US of A
  • #16,647
  • Jun 13, 2023 12:44pm Jun 13, 2023 12:44pm
Quoting sampat
{quote} Its same way biden got elected give free shit out, migrate people and appease so called minorities and gets elected.
don't foget the dead people votes.
  • #16,648
  • Jun 13, 2023 12:45pm Jun 13, 2023 12:45pm
Quoting 1odi
{quote} then imo that broker wasn t clean? otherwise what could be the grounds for that? unless all americans are criminals or whatever, how can the US ask such a thing? i dunno, seems a bit dictatorial. again i dunno the full story nor my area of expertise, just thinking out loud.
NO, alot of great brokers got banned from accepting US citizens.....they didn't find it worth it to go through the bullshit to be able to do so.
  • #16,649
  • Jun 13, 2023 1:11pm Jun 13, 2023 1:11pm
Quoting pipmaster77
{quote} NO, alot of great brokers got banned from accepting US citizens.....they didn't find it worth it to go through the bullshit to be able to do so.
On the opposite direction SPY and TLT ETFs (and much more) just ignored the idiots of European Soviet Union that started to demand KIID stuff for Europeans to be allowed to trade it.
Result: we're not allowed to trade those any longer, unless we have the professional status.
But, hey, now we are protected (but we can still trade SPY and TLT CFDs and options which is way much worse ).
  • #16,650
  • Jun 13, 2023 2:11pm Jun 13, 2023 2:11pm
CPI day, time to read all the babies crying about slippage.
  • #16,651
  • Jun 13, 2023 2:37pm Jun 13, 2023 2:37pm
Quoting AaronPriest
{quote} Unelected federal bureaucrats in the executive branch have been setting whatever unconstitutional "laws" and regulations they want for well over a century in America. The legislative branch unlawfully delegated authority--without representation--to the executive branch to do so, and the judicial branch hasn't done much to stop it but slap their hand every now and then.
You are 100% correct & the average citizen does not realize the enormous power these bureaucrats have & no one attempts to stop them.
You just explained it all.
  • #16,652
  • Jun 13, 2023 5:26pm Jun 13, 2023 5:26pm
Quoting Skelm
Good day, Could anyone please shed light into how to deal with spreads when scalping with prop firms? or maybe a recommendation on specific prop broker with tight spreads? Thanks in anticipation )
The5ers.com is a good prop firm. Also Citytradersimperium.com
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  • #16,653
  • Jun 13, 2023 11:55pm Jun 13, 2023 11:55pm
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Pride always comes before destruction.... -Proverbs 16:18
  • #16,654
  • Jun 14, 2023 1:06am Jun 14, 2023 1:06am
Quoting pipmaster77
https://www.cftc.gov/PressRoom/PressReleases/8716-23 CFTC adds 45 entities to it's "red list". All of my old offshore brokers ar there. From the prop space, only one is True Forex Funds The red list is good in a way, they generally cannot threaten or shut these entities down, that is why they "must protect us from ourselves" through the red list.
This entity operates outside the United States with no or limited U.S. presence.
It is soliciting and/or accepting funds from U.S. customers and offering a product within the CFTC's jurisdiction. A review by the Commission has revealed that this entity is acting in a capacity that appears to require registration, but it is not registered with the CFTC.
The inclusion of this entity's name on the RED List does not mean that the CFTC or a court has concluded that a violation of any provision of the Commodity Exchange Act or the Commission's regulations has occurred.
  • #16,655
  • Jun 14, 2023 1:07am Jun 14, 2023 1:07am
Quoting Takisd
Interesting. You would think that they wouldnt single out one firm and just go for all of them. Other than the WD issues what else has TFF done to warrant that ahead of everyone else? Edit: I didnt have them on my bankruptcy bingo card
The RED List is developed from tips and leads from the public or other sources. Help us protect other traders. If you have a RED List lead, send us the web address.
  • #16,656
  • Jun 14, 2023 1:34am Jun 14, 2023 1:34am
Quoting Skelm
Good day, Could anyone please shed light into how to deal with spreads when scalping with prop firms? or maybe a recommendation on specific prop broker with tight spreads? Thanks in anticipation )
What instrument do you plan to trade? How many pips do you want to gain ?
  • #16,657
  • Jun 14, 2023 2:28am Jun 14, 2023 2:28am
Quoting Eren10
{quote} What instrument do you plan to trade? How many pips do you want to gain ?
I have the same question. Which prop firm do you recommend for scalping GOLD on M1? Profit around 5-10 pips per trade.
  • #16,658
  • Jun 14, 2023 2:44am Jun 14, 2023 2:44am
I see MFF uses Traders Global Group as their liquidly provider. Can anyone share info on this provider? Thank you to all responders.
  • #16,659
  • Jun 14, 2023 3:15am Jun 14, 2023 3:15am
Quoting acetrader
I see MFF uses Traders Global Group as their liquidly provider. Can anyone share info on this provider? Thank you to all responders.
it is their own. They built server infrastructure and have liquidity attached to an aggregator.
  • #16,660
  • Jun 14, 2023 3:25am Jun 14, 2023 3:25am
Quoting Olarion1975
{quote} I have the same question. Which prop firm do you recommend for scalping GOLD on M1? Profit around 5-10 pips per trade.
You want to trade for 0.5 - 1 $ difference. Most props will take about 0.3-0.4 $ from your trade, depends also on the lot size, higher lot means also bigger spread.
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