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  • #861
  • May 6, 2021 4:05am May 6, 2021 4:05am
Quoting Le.Metier
{quote} I have a retail account, 1:30 is the max. W'sale accounts can get much higher; I am not eligible.
As a retail client myself I got this offer from pepperstone months ago. "Stay under ASIC and trade with 1:30 or migrate and trade with 1:400"

Chose to migrate. All other conditions remained the same.

Apparently, your brokers either didn't send you this offer or you guys are forced by law to remain under ASIC regulation?
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  • #862
  • May 6, 2021 4:11am May 6, 2021 4:11am
Quoting Koop
{quote} As a retail client myself I got this offer from pepperstone months ago. "Stay under ASIC and trade with 1:30 or migrate and trade with 1:400" Chose to migrate. All other conditions remained the same. Apparently, your brokers either didn't send you this offer or you guys are forced by law to remain under ASIC regulation?{image}
That was the initial work-around. But ASIC has closed that door.
  • #863
  • May 6, 2021 5:45am May 6, 2021 5:45am
Since most countries regulation do not provide actual "protection", use an unregulated broker with 500:1, only keep what you are actual using on your current trades and the other 85-90% stays in your bank. You move in and out as required. Trader's Way and FXchoice have been around since 2012. I've never had any issues, conditions are actually 100x better than my "regulated" offerings in the States.
  • #864
  • May 6, 2021 6:21am May 6, 2021 6:21am
Good Morning,
I have a profitable strategy that work on ITALIAN Stocks CFDs and some minor US Stocks CFDs,
I am in desperate need of a Prop Firm that let me trade Major ITALIAN stocks.

Send me any help,

thank you so much,

Luigi
  • #865
  • May 6, 2021 6:48am May 6, 2021 6:48am
"Backers" in this case refers to investors who own the capital you would supposedly be trading right?
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  • #866
  • May 6, 2021 10:07am May 6, 2021 10:07am
Quoting Koop
{quote} As a retail client myself I got this offer from pepperstone months ago. "Stay under ASIC and trade with 1:30 or migrate and trade with 1:400" Chose to migrate. All other conditions remained the same. Apparently, your brokers either didn't send you this offer or you guys are forced by law to remain under ASIC regulation?{image}
Are you using those Aussie broker servers based in the Bahamas, Vanuatu, etc? If yes, beware that if there are any problems (e.g. 2000-8000 pip spread that wipes account) ASIC/ AFCA will not be able to help. I have been contacted by people the past 2 yrs in other forums, and the only guys who got their money back are those using AU servers under those brokers... rest go ignored

Quoting pipmaster77
Since most countries regulation do not provide actual "protection", use an unregulated broker with 500:1, only keep what you are actual using on your current trades and the other 85-90% stays in your bank. You move in and out as required. Trader's Way and FXchoice have been around since 2012. I've never had any issues, conditions are actually 100x better than my "regulated" offerings in the States.
So yes, @pipmaster77 is giving good advice here. I am doing something similar but with another broker since I have never heard of the 2 he is using before until now
  • #867
  • May 6, 2021 10:39am May 6, 2021 10:39am
The banter is delicious.

I have been trading offshore for years now, always got paid never had a real issue. Actually have had more issues both working for and trading with ASIC or FCA companies than offshore ones. When it costs more to operate, you must increase margins.

Most of the regulated entities i worked for sent all their flow to an offshore company that was a dealer who b booked everything.
  • #868
  • May 6, 2021 10:56am May 6, 2021 10:56am
Quoting Takisd
The banter is delicious. I have been trading offshore for years now, always got paid never had a real issue. Actually have had more issues both working for and trading with ASIC or FCA companies than offshore ones. When it costs more to operate, you must increase margins. Most of the regulated entities i worked for sent all their flow to an offshore company that was a dealer who b booked everything.
Depends on luck. I personally know people who have been in the problems (as stated in earlier posts). Also this AFCA is a new entity created Nov 2018 in AU to handle these specific kind of cases cos the former Ombudsman was useless and could not do much.
  • #869
  • May 6, 2021 11:04am May 6, 2021 11:04am
Quoting MaryAnne
{quote} Depends on luck. I personally know people who have been in the problems (as stated in earlier posts). Also this AFCA is a new entity created Nov 2018 in AU to handle these specific kind of cases cos the former Ombudsman was useless and could not do much.
I was a responsible manager in Australia. The ombudsman and AFCA doesn't do jack shit if it hurts the companies financials to settle. They are the same entity just different funding method. Tied up with people who dont know anything with low budgets and even lower legal knowledge.

If you were mistreated with unfair conditions and your account is large enough to damage the financial standard of the entity, you will get nothing..
  • #870
  • May 6, 2021 11:10am May 6, 2021 11:10am
Quoting Takisd
{quote} I was a responsible manager in Australia. The ombudsman and AFCA doesn't do jack shit if it hurts the companies financials to settle. They are the same entity just different funding method. Tied up with people who dont know anything with low budgets and even lower legal knowledge. If you were mistreated with unfair conditions and your account is large enough to damage the financial standard of the entity, you will get nothing..
I see. Thanks for sharing. I don't think the guys I know had such large accounts but they mentioned they had to sign NDA to get monies back and retract their complaints (brokers made such offer to them after they raised issues to AFCA and ASIC so they thought it worked).

Btw another friend told me he opened an account with another Aussie broker but chose offshore server for huge leverage and since then it has been huge delays > 1000 ms which caused him huge losses. He never had such issues on demo and also they always claim no issues whenever he raised this to them. Any chance of him getting money back? I have seen the log files myself and the latency is terrible.
  • #871
  • May 6, 2021 12:28pm May 6, 2021 12:28pm
Quoting MaryAnne
{quote} I see. Thanks for sharing. I don't think the guys I know had such large accounts but they mentioned they had to sign NDA to get monies back and retract their complaints (brokers made such offer to them after they raised issues to AFCA and ASIC so they thought it worked). Btw another friend told me he opened an account with another Aussie broker but chose offshore server for huge leverage and since then it has been huge delays > 1000 ms which caused him huge losses. He never had such issues on demo and also they always claim no issues whenever...
What is the name of the firm you're referring to?
  • #872
  • May 6, 2021 1:07pm May 6, 2021 1:07pm
Quoting MaryAnne
{quote} Are you using those Aussie broker servers based in the Bahamas, Vanuatu, etc? If yes, beware that if there are any problems (e.g. 2000-8000 pip spread that wipes account) ASIC/ AFCA will not be able to help. I have been contacted by people the past 2 yrs in other forums, and the only guys who got their money back are those using AU servers under those brokers... rest go ignored {quote} So yes, @pipmaster77 is giving good advice here. I am doing something similar but with another broker since I have never heard of the 2 he is using before...
Lol i got Pepperstone Bahamas and Global prime Vanautu. Truth is I've never really expected any protection from any broker, I came into the markets believing they were all out to rob me whether they were regulated or not.

I just look for the one that can offer me the best spreads, at least 1:200 leverage, enough Funding/withdrawal options available to my Country/region and last but not least, size of their volume traded + customer feedback.

Thanks to the high leverage I never have to deposit money I can't afford to lose if something weird ever happens.
  • #873
  • May 6, 2021 1:42pm May 6, 2021 1:42pm
Quoting Koop
{quote} Lol i got Pepperstone Bahamas and Global prime Vanautu. Truth is I've never really expected any protection from any broker, I came into the markets believing they were all out to rob me whether they were regulated or not. I just look for the one that can offer me the best spreads, at least 1:200 leverage, enough Funding/withdrawal options available to my Country/region and last but not least, size of their volume traded + customer feedback. Thanks to the high leverage I never have to deposit money I can't afford to lose if something weird...
Wow, I really hit the jackpot with you when I mentioned those 2 countries as example lmao

Btw yes, Global Prime was one of my first few brokers I never had any problems with them so I don't think you would have issues there either (they even have Discord chat these days). Haven't used Pepperstone before but heard mixed reviews? A lot of people complained about them but my own brother was able to double his account (5 figures) and cash out after 1 month so yes, it is an encouraging sign.

And yes, only deposit play money. I am always surprised when I hear people depositing 6 figure sum in one of these brokers... and then their house is at stake when trades go bad >.<

Quoting pantera1
{quote} What is the name of the firm you're referring to?
I'll post it once my friend gives permission but he is still in middle of trying to get his $$$ back.
  • #874
  • May 6, 2021 2:00pm May 6, 2021 2:00pm
Quoting MaryAnne
{quote} Wow, I really hit the jackpot with you when I mentioned those 2 countries as example lmao Btw yes, Global Prime was one of my first few brokers I never had any problems with them so I don't think you would have issues there either (they even have Discord chat these days). Haven't used Pepperstone before but heard mixed reviews? A lot of people complained about them but my own brother was able to double his account (5 figures) and cash out after 1 month so yes, it is an encouraging sign. And yes, only deposit play money. I am always...

I have a lot more money in an offshore broker than above mentioned. But its a long term relationship that developed over years. I have play money in some "famous" brokers but they never perform, usually 1-2 pips off my main account. In the case of some prop firms I have tested, one being FTMO, the price was off sometimes 5 pips depending on the time of day and there were a lot of weird behaviours in the market.

I have used GP long ago, their slippage was a problem for people with size, supposedly they have changed but you only really get one real chance with me. That being said Jeremy and their team do a great customer service job.

If I was going to use a big name broker for my main account it would be tickmill. They don't pretend they are something that they are not. They always are pushing forward, the owner is clear and present in the business and the service is great even though when they were armada markets they left a bit to be desired.
  • #875
  • May 6, 2021 2:15pm May 6, 2021 2:15pm
Quoting MaryAnne
{quote} Wow, I really hit the jackpot with you
I know right?
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  • #876
  • May 7, 2021 4:09am May 7, 2021 4:09am
Quoting Koop
{quote} I know right?{image}
ave you had a look at the LUX Trading program ?
Your take on it would be welcome.
Look Left Trade Right
  • #877
  • May 7, 2021 4:56am May 7, 2021 4:56am
Quoting Basill
{quote} ave you had a look at the LUX Trading program ? Your take on it would be welcome.
Don't know why you're even considering them bro. If you want to go for that type of account you're much better off with the 5ers. At least with 5ers you can grow your RD (or distance to "stop out" level) thus lessening your risk

This is what their rules say: "for the $10K Evaluation demo and first funded stage Acc, the max relative Drawdown is $400. If the starting account balance was $10,000, and at a later time, the trader made a profit of $200, bringing the account balance to $10,200. Then the stop-out level based on the Relative Drawdown would be $10,200 – $400 = $9,800. Your account will be immediately disabled when you hit your max loss allowed; you can pay a reset fee of 150 GBP to start over"
  • #878
  • May 7, 2021 5:22am May 7, 2021 5:22am
Quoting Mtinifx
{quote} Don't know why you're even considering them bro. If you want to go for that type of account you're much better off with the 5ers. At least with 5ers you can grow your RD (or distance to "stop out" level) thus lessening your risk This is what their rules say: "for the $10K Evaluation demo and first funded stage Acc, the max relative Drawdown is $400. If the starting account balance was $10,000, and at a later time, the trader made a profit of $200, bringing the account balance to $10,200. Then the stop-out level based on the Relative Drawdown...
I understand what you are saying.. Relative DD v Fixed DD. However it is only for the 1st 2 steps with Lux. Otherwise the conditions & scaling up are almost the same. Lux is 1/2 the price though. $277 v $565 for the $50,000 accounts. Get through the 1st 2 stages & apples for apples the LUX looks better to me.
Look Left Trade Right
  • #879
  • May 7, 2021 6:03am May 7, 2021 6:03am
Quoting Basill
{quote} ave you had a look at the LUX Trading program ? Your take on it would be welcome.
Hey Man..

As i've expressed many times, i'm really big on leverage so i dont really consider 5ers, lux or CTI as good options compared to offers in the market currently.
As Mtinifx already said, i also think Lux is a worse off version of the 5ers thanks to the relative DD thing.

The DD is already too tight, but to then make it Relative?
You're looking at the long term scaling potential (which firms like these use to distract customers from the main problem), but with such a relative DD limit, how many do you think make it past the first two steps? And amongst those that do, how many have come close to the $1,000,000 to $2,000,000 account balance they're using as bait?

NONE. The 1:6 leverage keeps you trading tiny lots and the relative DD of 4% makes you too scared to take moderate to big risks ....
That's how they make sure you don't scale up or ever get to earn solid gains. (In my opinion).

Lol anyways, they're all still better than Blufx and Traders Central Fund (the monthly sub plan) which offer 1:3 leverage.
  • #880
  • May 7, 2021 6:11am May 7, 2021 6:11am
Quoting Koop
{quote} Hey Man.. As i've expressed many times, i'm really big on leverage so i dont really consider 5ers, lux or CTI as good options compared to offers in the market currently. As Mtinifx already said, i also think Lux is a worse off version of the 5ers thanks to the relative DD thing. The DD is already too tight, but to then make it Relative? You're looking at the long term scaling potential (which firms like these use to distract customers from the main problem), but with such a relative DD limit, how many do you think make it past the first...

I completely understand that certain strategies need higher leverage. But I personally would not need any more than 1:6. Even with FTMO, I would not use any more than that. Or eventually would get too close to daily max(worse case scenario). And I always plan with the worst case scenario in mind. I guess I am the longer term outlook fool
If I don't mention SL and/or TP = longer-term setup possibly in the works!
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