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  • #1,861
  • Jun 28, 2021 7:08pm Jun 28, 2021 7:08pm
Quoting Cryptosurf
{quote} Actually they can make it difficult on them regardless of existing laws. 1broker.io was a perfect example of an offshore broker, who had no affiliation with anything in the USA, and was shutdown and forced out of business by US authorities. Recently there's been several offshore brokers who have halted accepting US clients after years of allowing them. They did so after US regulators went after one of them. Even tho they have no physical presence in the USA. {quote} We both know it could very well happen at anytime.
Sure, but don't confuse a prop firm and a broker. The majority of brokers have been forced out re: dodd frank.

In terms of business structure these prop firms function like a Tshirt shop. You buy a product one time and thats that. Obviously monthly sub type models wouldnt be allowed because then its a whole other kettle of fish.

The original exodus of the US for brokers was caused by the CFTC suing brokers for exorbitant amounts and forcing settlements. See: Fxopen.

FXOpen was sued for 500 million and they had a total of 24 k in US deposits. So brokers went "you know what this isn't worth it". The US market at the time was crap anyway so it was pointless to go through the headache. Now the CFTC leaves these shit shops that are accepting americans alone for some obscene reason, i suspect because their focus has switched from dodd frank.

For Prop firms I think there are some AML/CTF elements that could come into play and could heavily restrict usage, but thats more an iran/african nation matter and not so much a US matter due to the nature of the purchase.

Also, if a prop firm hasn't papered you and is sending you money, they are a breaking the law. Your ID/ proof of address and some sort of agreement has to be in place accompanied by an invoice for every transaction. Anyone caught without it can be shut down at any moment citing AML law.
  • #1,862
  • Jun 28, 2021 7:10pm Jun 28, 2021 7:10pm
Quoting pipmaster77
{quote} lol, yes, that's what every non US citizen says. Nearly impossible to do, if you are a US citizen and an officer of that company, the broker will block you. The irony is when you go to these brokers sites....it is the USA, North Korea and Iraq that cannot open accounts. Quite a group to be included in, as the "land of the free".

Its not impossible Just expensive and a pain in the ass.
  • #1,863
  • Jun 28, 2021 11:46pm Jun 28, 2021 11:46pm
Quoting navk
{quote} I sent email and they clarified as under : Thank you for reaching out to us. You can enter on news events close during news events as well there is no limit with the news! I hope this helps. Daniel Funding Talent Support
Thanks for the info. Super busy day here and forgot to message them
Pride always comes before destruction.... -Proverbs 16:18
  • #1,864
  • Jun 28, 2021 11:51pm Jun 28, 2021 11:51pm
Quoting tradista
{quote} funny how their accounts are stated in USD and they price the challenge in GBP, probably to make it look cheaper than it is!
They know they're behind the curve.
Pride always comes before destruction.... -Proverbs 16:18
  • #1,865
  • Jun 29, 2021 2:39am Jun 29, 2021 2:39am
Quoting Koop
{quote} Speaking in general terms about the who "prop firm" space with a bunch of varying conditions and offers, while using one package on 5ers as your only example is a little unsubstantiated don't you think?

im not sure how could u please explain in detail plz, bcz i checked 6-8 firms condition and so far to me 5ers looks usrer freindly than others, i,e- al most every firm asked to finish initial stag within 1/2 months and targeted profit 10-15% with same DD. but in 5ers they offer 6 month to finish initial stage. which gives more time to reach the target. and i showed that by compounding profit of 450 usd we can make same as this prop firm offers. and monthly target is not high also. initially 26% after tha 1st year it goes down to 10-12% which is very much possible for a experienced trader.

this firm penalized for not putting sl, or breaking the DD level which is very tight for every firm. but with our own money we can earn same return with some more relaxed rules.
  • #1,866
  • Jun 29, 2021 2:51am Jun 29, 2021 2:51am
Quoting Takisd
{quote} I looked at this in a lot of detail. I don't think regulators can do anything without changing the law. The worst they can do is say "ok you cant have your own servers" and then the prop firms will just open an OTB company offshore and stick the server there. Its a very grey area but so long as they dont put your name on the account nothing should really happen. An after thought.... They may actually take heavy action on people who are providing fraudulent trading conditions however........ So far we have seen one with bullshit conditions,...
I want to believe you're talking about ThePropTrading
  • #1,867
  • Jun 29, 2021 3:15am Jun 29, 2021 3:15am
which broker FT offers for challenge account.

Any one pls
Intraday only.
  • #1,868
  • Jun 29, 2021 3:55am Jun 29, 2021 3:55am
Quoting Ezracapital
Guys who have try this prop firm before,they said you get funded instantly and withdraw weekly,this seem to be a scam Adonisfunded.com {image}

yes i think they r scam , bcz with almost every prop firm trader can loose the amount equal or less to their paid subscription fee. here how its possilbe they offers 20k loss for 500 fee, how they will cover those losses?
  • #1,869
  • Jun 29, 2021 4:34am Jun 29, 2021 4:34am
Quoting inversio
{quote} yes i think they r scam , bcz with almost every prop firm trader can loose the amount equal or less to their paid subscription fee. here how its possilbe they offers 20k loss for 500 fee, how they will cover those losses?
Lol see why i said you're generalizing wrongly? You're judging the whole prop firm space based on 5ers/cti/Lux standard plan conditions.

FTMO - $650 - $10k max loss
FT - $610 - $10k max loss

MFF, TPT, ENFOID, 5ers new summer plan etc all offer far more than your paid fee as max loss.
and none of these except 5ers force you to use a stop loss.

Quoting navk
which broker FT offers for challenge account. Any one pls
Their own server like FTMO and MFF
  • #1,870
  • Jun 29, 2021 4:58am Jun 29, 2021 4:58am
Quoting Koop
{quote} {quote} Their own server like FTMO and MFF
Ya. I have seen that. Thier own server FT2 DEMO
Intraday only.
  • #1,871
  • Jun 29, 2021 5:21am Jun 29, 2021 5:21am
Quoting navk
{quote} Ya. I have seen that. Thier own server FT2 DEMO
Enjoy the miracle conditions of trading where the broker pays you to trade.

Its like the slot machine that never loses!
  • #1,872
  • Jun 29, 2021 5:40am Jun 29, 2021 5:40am
Quoting Takisd
{quote} Enjoy the miracle conditions of trading where the broker pays you to trade. Its like the slot machine that never loses!
Conditions are similar to MFF and more or less FTMO.

FT : Target 8 % and 4 % + news trading + 5 % DD + 10 % DD

MFF : Target 8 % and 5 % + news trading + 5 % DD + 12 % DD

FTMO : Target 10 % and 5 %. + 5 % DD + 10 % DD. - no news trading
Intraday only.
  • #1,873
  • Jun 29, 2021 6:37am Jun 29, 2021 6:37am
Quoting bojack34
{quote} Question......if you could have a 100k account with any Prop firm of your choice and you got to keep 75% or 80% of the profits........OR......have 100k of your own money in your trading account and keep 100%. Which would you prefer? I know for me....100000% of the time I choose the Prop Firm. At any giving moment the market could jump right over your SL and take your entire account. I know that if i'm trading someone elses money the worst I can do is lose my fee.

Naive
He was looking for the card so high and wild hed never need to deal another
  • #1,874
  • Jun 29, 2021 6:39am Jun 29, 2021 6:39am
Quoting mixedbags
{quote} Please display your 100k account or are you talking cock

Dumb question
He was looking for the card so high and wild hed never need to deal another
  • #1,875
  • Jun 29, 2021 7:02am Jun 29, 2021 7:02am
Quoting dr_who
{quote} Dumb question
join FF 2007 don't even have 100K account to show, go and suck your mum milk baby
  • #1,876
  • Jun 29, 2021 7:56am Jun 29, 2021 7:56am
Quoting navk
{quote} Conditions are similar to MFF and more or less FTMO. FT : Target 8 % and 4 % + news trading + 5 % DD + 10 % DD MFF : Target 8 % and 5 % + news trading + 5 % DD + 12 % DD FTMO : Target 10 % and 5 %. + 5 % DD + 10 % DD. - no news trading
What takisd is saying is the feed isn't real. The conditions are too good for it to be real. That company is a fraud. To each their own, but between what Jessica (CEO) pulled a couple of months ago and what takisd (with his knowledge of brokers and LPs) is saying, I will be taking a hard pass on this one. FTMO, MFF and 5%ers summer plan for me. Should be plenty.
  • #1,877
  • Jun 29, 2021 8:07am Jun 29, 2021 8:07am
Quoting pipmaster77
{quote} What takisd is saying is the feed isn't real. The conditions are too good for it to be real. That company is a fraud. To each their own, but between what Jessica (CEO) pulled a couple of months ago and what takisd (with his knowledge of brokers and LPs) is saying, I will be taking a hard pass on this one. FTMO, MFF and 5%ers summer plan for me. Should be plenty.
Oh, I did not know that.

Taking caution about it.
Intraday only.
  • #1,878
  • Jun 29, 2021 10:17am Jun 29, 2021 10:17am
Quoting navk
{quote} Oh, I did not know that. Taking caution about it.
0.1 spread with no commission

What people I think don't understand is that spread isn't a charge, its the gap between the bid/ask price. To execute a trade, it costs money. So if the spread is 0.1 (on interbank it is that or lower only 52% of the time during normal market time) and there is no commission (a firm like the retail prop firm is likely being charged 20-30$ per million per way) then an 0.1 no spread feed means its a casino. Its fake, you can't execute real trades on that without it costing you money as the provider.
  • #1,879
  • Jun 29, 2021 10:25am Jun 29, 2021 10:25am
Quoting Takisd
{quote} 0.1 spread with no commission What people I think don't understand is that spread isn't a charge, its the gap between the bid/ask price. To execute a trade, it costs money. So if the spread is 0.1 (on interbank it is that or lower only 52% of the time during normal market time) and there is no commission (a firm like the retail prop firm is likely being charged 20-30$ per million per way) then an 0.1 no spread feed means its a casino. Its fake, you can't execute real trades on that without it costing you money as the provider.
I understand that.

Too low spread and no commission.

But then, in this case, success rate of accounts will be good.

And how they manage to pay ? They have been paying.
Intraday only.
  • #1,880
  • Jun 29, 2021 11:07am Jun 29, 2021 11:07am
Quoting navk
{quote} I understand that. Too low spread and no commission. But then, in this case, success rate of accounts will be good. And how they manage to pay ? They have been paying.
succes rate isnt good. I'd bet that its below 2% so you pay like a ponzi.
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