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  • #4,021
  • Edited 11:43am Sep 23, 2021 11:32am | Edited 11:43am
Quoting Takisd
{quote}... If you look at their instagram there are people already bitching it wasn't completely removed. I still wish it was 30 days and no coasting if you pass early so that the morons would go way.
Which basically means consistency rule. And that's even worse then zero days. You won't tell apart morons from skilled traders this way
Money is made by sitting, not trading
  • #4,022
  • Sep 23, 2021 11:46am Sep 23, 2021 11:46am
Quoting Koop
{quote} I think most of it was due pressure from Funding talent refugees. I think it was even mentioned somewhere in the announcement. Probably still the same people still bitching.

I wonder if they will publish the findings in their research. If they did it would be sufficient for me. I am fairly sure that most people who pass phase 1 and 2 are 1 shot trading it, it is the easiest way to get that return in those days and in some ways its safest.

I heard also they are preparing to launch some new models as well..... but i dont have anything official on that as they are being pretty tight lipped.
  • #4,023
  • Sep 23, 2021 11:59am Sep 23, 2021 11:59am
Quoting Cryptosurf
{quote} US indicies, so whatever CFD equivalents for DOW, Nasdaq and S&P 500.
Ok
Thanks
  • #4,024
  • Sep 23, 2021 1:55pm Sep 23, 2021 1:55pm
New Prop Firm Alert -- (Probably already been mentioned)..
The Funded Academy

Apparently, they have an "Own deposit service" option that allows you deposit $700 or so with a broker. You make the 8% profit target on your deposit with 20 minimum days and you earn yourself a free $50k challenge and still get to keep your $700 and profits made.

They also have the regular Challenge model with all the bells and whistles..
Do your own due diligence before attempting to risk your money.

"Own deposit service link = https://www.fundedacademy.com.au/hel...eposit-program

Trustpilot reviews - https://www.trustpilot.com/review/funded.academy

Website (pricing for challenges) - https://www.fundedacademy.com.au/products/pricing

Discord Link - https://discord.gg/XZJ5U6Yj

They are very new..
  • #4,025
  • Sep 23, 2021 1:59pm Sep 23, 2021 1:59pm
[COLOR=var(--text-muted)]"September 9, 2021[/color]
_ Hello Traders, We've had questions regarding our legitimacy which we have expected and understand completely due to the nature of prop firms and the forex industry more broadly. As we grow as a company, we want to provide the public with as much transparency and proof as possible to showcase that Funded Academy is not another example of why traders are as skeptical as they should be now days.

Firstly, we want to outline our model and backend.
We work with a liquidity provider through the well-known prop firm Traders Central Fund. We've worked together on an agreement where they provide us a framework in the rules and trading conditions in which we can offer our clients.
We specifically looked into what traders want from prop firms and we have tried to deliver that with this agreement. Including fast scaling plans, copier friendly accounts, flexible EA rules and weekend holding. We pay them a one-time fee per account and they keep a % of profits of the funded accounts, they make majority of their revenue through providing third parties a "pool" of data and information on their traders. We and they are incentivised to pass and fund traders, that is why we offer great scaling and low one-time payments. We grow as you get paid. If people had ideas on how we can prove legitimacy further or any questions don't be afraid to ask.



Thanks,
The Funded Academy Team www.fundedacademy.com.au "




Does anyone understand what the bolded part means?
  • #4,026
  • Sep 23, 2021 3:07pm Sep 23, 2021 3:07pm
Quoting Koop
The Funded Academy
-Just asked about this firm recently on FB. Spoke with their support and he told me that traders that scale up at least one time do not lose their account if DD allowance is exceeded. Instead, they are rolled back to previous level.
  • #4,027
  • Sep 23, 2021 3:15pm Sep 23, 2021 3:15pm
Quoting Nsak3y
{quote} -Just asked about this firm recently on FB. Spoke with their support and he told me that traders that scale up at least one time do not lose their account if DD allowance is exceeded. Instead, they are rolled back to previous level.
...
Wow

Now thats a game changer ...
Mehn ..i love competition...

Hopefully we will get to a day when all you need to do to have a 100k acct
is to register a demo account and make 10% without breaching some DD rule within 30 days ..lol
  • #4,028
  • Sep 23, 2021 3:29pm Sep 23, 2021 3:29pm
Traders .... central.... fund...

Anyone who is a white label of them.. can burn in flames.
  • #4,029
  • Sep 23, 2021 3:39pm Sep 23, 2021 3:39pm
Quoting Takisd
Traders .... central.... fund...
-Yeah, they seem to be either be associated with, or a clone of, Trader's Central, because the support guy referred me to a Trader's Central video and told me that the rules are the same, after I was asking a bunch of questions about what was allowed. I do not know much about Trader's Central. They have a bad reputation, apparently?
  • #4,030
  • Sep 23, 2021 3:53pm Sep 23, 2021 3:53pm
Quoting Nsak3y
{quote} -Just asked about this firm recently on FB. Spoke with their support and he told me that traders that scale up at least one time do not lose their account if DD allowance is exceeded. Instead, they are rolled back to previous level.
The problem with TCC and all of their white labels, is scaling only occurs if you leave the 10% IN THE ACCOUNT. You can withdrawal it, but then you don't scale, otherwise can only withdrawal over 10%. IMO, their business model is keep scaling you, but never pay you until with the hopes eventually you'll blow the account. Once again, just an opinion, but the firms that keep stringing you along without paying are hoping for your failure. Imagine sitting there with a 1 million dollar account, you've never pulled a dime out.....all that work and then you violate their "risk policy", which isn't even a hard set of rules, just their judgement. So, not a game changer and certainly no competition for either of the firms I'm using.
  • #4,031
  • Sep 23, 2021 4:33pm Sep 23, 2021 4:33pm
Quoting Koop
New Prop Firm Alert -- (Probably already been mentioned).. The Funded Academy Apparently, they have an "Own deposit service" option that allows you deposit $700 or so with a broker. You make the 8% profit target on your deposit with 20 minimum days and you earn yourself a free $50k challenge and still get to keep your $700 and profits made. They also have the regular Challenge model with all the bells and whistles.. Do your own due diligence before attempting to risk your money. "Own deposit service link = https://www.fundedacademy.com.au/hel...eposit-program...
Where have you been Koop? We diced this one up a couple of days ago.
  • #4,032
  • Sep 23, 2021 4:56pm Sep 23, 2021 4:56pm
Speaking of TCC, just received an email their "risk reviews" are now automated. Even better, signing up now.

https://medium.com/traders-central-e...d-df3e69b0839c
  • #4,033
  • Sep 23, 2021 6:43pm Sep 23, 2021 6:43pm
Quoting pipmaster77
Imagine sitting there with a 1 million dollar account, you've never pulled a dime out.....all that work and then you violate their "risk policy", which isn't even a hard set of rules, just their judgement.
-I suppose that the best approach would be for traders to take their first withdrawal as soon as possible, in lieu of scaling up, so that they can walk away with profit no matter what happens. I will say that these firms are held accountable by many traders, and that news spreads fast if any of them try any nonsense. At least, we would hope that things would play out fairly.

Quoting pipmaster77
"risk reviews" are now automated
-I would be curious to know if these metrics that are automatically analyzed are available to the public. Any associated prop firm that actually cares about the success of their traders should have no reservations about sharing this data with their traders, assuming that these white labels are given access.
  • #4,034
  • Sep 23, 2021 10:21pm Sep 23, 2021 10:21pm
Quoting Nsak3y
traders that scale up at least one time do not lose their account if DD allowance is exceeded. Instead, they are rolled back to previous level.
So, I asked for clarification regarding the roll-back feature. Evidently, this only applies to overall draw-down (10%), but not 5% 'daily' draw-down. So, if you violate the daily, you're likely out of luck and subject to 'risk review'. If, however, you do not violate the daily, but gradually lose enough to hit your maximum draw-down, then you will be rolled-back to the previous level, prior to scale-up.

Support did say that they would ask the risk review team for more details regarding what metrics they look at. But, honestly, I doubt that it matters. If you hit your 5% daily DD, then they can probably terminate without cause.
  • #4,035
  • Sep 24, 2021 2:44am Sep 24, 2021 2:44am
Quoting pipmaster77
{quote} Where have you been Koop? We diced this one up a couple of days ago.
Lol I figured.
Nothing gets past you guys. Totally missed it.
  • #4,036
  • Sep 24, 2021 7:26am Sep 24, 2021 7:26am
Does anyone know what is the maximum lot size for US30 at FTMO? MFF is currently at 30, which translates to $30 per point, and I have to say that is quite low.
  • #4,037
  • Edited 10:39am Sep 24, 2021 7:38am | Edited 10:39am
Quoting EnoFX
Does anyone know what is the maximum lot size for US30 at FTMO? MFF is currently at 30, which translates to $30 per point, and I have to say that is quite low.
1,000 (on cTrader for one open position). I guess you can open multiple positions with MFF, 30 each, to work around the limit?
Money is made by sitting, not trading
  • #4,038
  • Sep 24, 2021 7:59am Sep 24, 2021 7:59am
30 contracts with the current US30 volatility makes for about 16,000 USD daily move. Even the 5min volatility is up to 2-3,000 USD with 30 contracts. More than enough for intraday scalping with a 200-400k account. How big one you trade?
Money is made by sitting, not trading
  • #4,039
  • Sep 24, 2021 8:41am Sep 24, 2021 8:41am
Quoting EnoFX
Does anyone know what is the maximum lot size for US30 at FTMO? MFF is currently at 30, which translates to $30 per point, and I have to say that is quite low.

You're mistaken. For MFF its 100 for CFD's and 30 for FX and you can open as many clicks as you want at those sizes.
  • #4,040
  • Sep 24, 2021 9:28am Sep 24, 2021 9:28am
That's good then, for some reason I thought it was 30 for a single trade.
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