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  • #4,261
  • Sep 29, 2021 4:40pm Sep 29, 2021 4:40pm
Quoting HoLoTrader
what about lux trading? Honestly seems the only Real prop firm for mortals, with legit and reasonable rules... the rest looks all like ambiguous scammy pyramidal jokes.
on it now... will keep you posted if survive eval. phase.


IMpO only one real prop firm (based on chat I had with them about their stream of income)
  • #4,262
  • Sep 29, 2021 5:16pm Sep 29, 2021 5:16pm
It's a disaster
  • #4,263
  • Sep 29, 2021 5:38pm Sep 29, 2021 5:38pm
Quoting Koop
I don't even think it's a regulatory issue.
Quoting sampat
Agreed
-The reason that I suspect possible, regulatory involvement, is due to this excerpt taken from FT's recent statement:

Attached Image
  • #4,264
  • Sep 29, 2021 5:42pm Sep 29, 2021 5:42pm
Quoting Nsak3y
{quote}{quote} -The reason that I suspect possible, regulatory involvement, is due to this excerpt taken from FT's recent statement: {image}
Looks more to me like a court case.
  • #4,265
  • Sep 29, 2021 5:45pm Sep 29, 2021 5:45pm
Maybe. But if so, by whom? The language seems to indicate a covering of the buttocks attempt.
  • #4,266
  • Sep 29, 2021 5:50pm Sep 29, 2021 5:50pm
Quoting Nsak3y
Maybe. But if so, by whom? The language seems to indicate a covering of the buttocks attempt.

From what I see in the groups, there are a few people who went forward with a case.

They are now basically showing their terms and conditions fine print out in public so that its not hidden and I suspect its going to come up in court when they defend themselves and not lose their homes/cars/etc.

This looks like lawyer induced coverage but from financial compensation not from a regulator. No reason to ditch challenge if its regulatory.
  • #4,267
  • Sep 29, 2021 5:55pm Sep 29, 2021 5:55pm
I posted this over on babypips, but will repost here since it is relative:

Quote
The Funding Talent Edge program is a unique opportunity for you to earn real cash rewards as you develop your trading “Edge”. This evaluation free program allows you to get started right away and earn cash daily as you build your simulated account balance.

Quote
Funding Talent’s unique business model allows you to earn cash while learning in a completely safe environment. This type of program will keep you motivated to keep developing your skills, without the risk of losing a large deposit or investment.

Quote
How it works:
1. Sign Up – Choose from an account size of $25K or $100K in fictitious capital
2. Get Started – No evaluation required! Start playing right away
3. Follow the Rules and Get Paid – Build up simulated “profits” on the demo account and cash them in when you meet the requirements

https://fundingtalent.com/edge/

So, you ‘play’ on a ‘simulated account’ with ‘fictitious capital’ to earn ‘simulated profits’ while you ‘learn’? How is this any different than an online casino where nothing is real? And where is the money coming from in order to hand out real cash to 'players' that are not doing anything to generate real profits? Isn’t that how an actual ponzi scheme is structured? Hmm…
  • #4,268
  • Sep 29, 2021 5:56pm Sep 29, 2021 5:56pm
Quoting Nsak3y
I posted this over on babypips, but will repost here since it is relative: {quote} {quote} {quote} https://fundingtalent.com/edge/ So, you ‘play’ on a ‘simulated account’ with ‘fictitious capital’ to earn ‘simulated profits’ while you ‘learn’? How is this any different than an online casino where nothing is real? And where is the money coming from in order to hand out real cash to 'players' that are not doing anything to generate real profits? Isn’t that how an actual ponzi scheme is structured? Hmm…

In my opinion, this is a violation of gaming laws in canada.
  • #4,269
  • Sep 29, 2021 5:59pm Sep 29, 2021 5:59pm
Quoting Takisd
From what I see in the groups, there are a few people who went forward with a case.
-That's interesting. Is this because FT stopped paying people their profits or something?

Quoting Takisd
No reason to ditch challenge if its regulatory.
-Maybe. Or, they ditched it and transitioned to this new 'EDGE' program that only pays out 25% because they realized that they cannot afford to continue paying out based on how things were structured. Since they admitted already to not having any real trades hitting a live market, it seems evident that they were in fact funding part of the business with fees from failed challenges. That seems very problematic.
  • #4,270
  • Sep 29, 2021 6:01pm Sep 29, 2021 6:01pm
Quoting Takisd
In my opinion, this is a violation of gaming laws in canada.
-At the very least, possibly.
  • #4,271
  • Sep 29, 2021 6:04pm Sep 29, 2021 6:04pm
They keep digging themselves deeper holes. Knee deep in conflict and embarrassment but won't just shamefully disappear like Fxseed and Tradersprop.
The plump Jessica would rather brag about how much they want to teach traders to succeed while robbing them in daylight.
  • #4,272
  • Sep 29, 2021 6:31pm Sep 29, 2021 6:31pm
Quoting Koop
They keep digging themselves deeper holes. Knee deep in conflict and embarrassment but won't just shamefully disappear like Fxseed and Tradersprop. The plump Jessica would rather brag about how much they want to teach traders to succeed while robbing them in daylight.

Well she can't as Fxseed and tradesprop doesn't have huge userbase and they are not located in Canada where rules are worst even for legal firms.
I can see they change gaming because of legal thing. Thats why MyFF may get infected if there are legal issues.
Same thing happened with forex brokers way back in 2008 and than binary options in 2010-2014. Now may be prop firms.
She will have pending lawsuits plus she can't get away unless she files bankruptcy.
Morning trustpilot was 4.3 now its below 3.5 with in couple of hours
  • #4,273
  • Edited 6:59pm Sep 29, 2021 6:43pm | Edited 6:59pm
Quoting mcquak
{quote} on it now... will keep you posted if survive eval. phase. IMpO only one real prop firm (based on chat I had with them about their stream of income)

I'm in too. But it will takes time. I mean: at least 4 to 8 months for me and the risk i'm taking.

FTMO took me 5 days... lol. But let's be honest. Who would copy the trades of a trader that passed in 5 days. FTMO isn't a prop firm like the other 99% in the industry. And i'm talking as an ftmo "Trader". Keep it in mind.

No long term solution, for sure. Too much ambiguous.

I don't like neither the fact that those "prop firms" invest so much money in advertising, contents, socials etc. Why? Because they make money with the fees, not with the traders. The fact that a prop firm isn't sexy on the internet doesn't mean really nothing.

Go look for Scion Asset Management's website. It's very basic and simplicistic. Though their Asset Under Managament it's something like 2 billions. Same thing for other multimillionaire and billionaire hedge funds with prop trading divisions. They don't care about your 540 eur fee and that's why you will not see them around YT and social media BS. Don't get fooled guys Like in Trading, where the herd goes... ask yourself some questions.
  • #4,274
  • Edited 8:48pm Sep 29, 2021 8:31pm | Edited 8:48pm
Quoting HoLoTrader
{quote} I'm in too. But it will takes time. I mean: at least 4 to 8 months for me and the risk i'm taking. FTMO took me 5 days... lol. But let's be honest. Who would copy the trades of a trader that passed in 5 days. FTMO isn't a prop firm like the other 99% in the industry. And i'm talking as an ftmo "Trader". Keep it in mind. No long term solution, for sure. Too much ambiguous. I don't like neither the fact that those "prop firms" invest so much money in advertising, contents, socials etc. Why? Because they make money with the fees, not with the...
LUX looks like a real deal but leverage is just 1:10, mostly the same conservative approach as 5ers. FTMO and MFF are also worth a try if you prefer their "aggressive" approaches.
  • #4,275
  • Sep 29, 2021 8:42pm Sep 29, 2021 8:42pm
Quoting diamond1011
{quote} LUX looks like a real deal
Yeah. I remember putting you guys onto LUX months ago. Nobody wanted to know at the time. However. Their Relative DD rules suck.
Look Left Trade Right
  • #4,276
  • Sep 29, 2021 10:49pm Sep 29, 2021 10:49pm
Quoting Basill
{quote} Yeah. I remember putting you guys onto LUX months ago. Nobody wanted to know at the time. However. Their Relative DD rules suck.
How are their Spreads? Commissions? Swaps?
  • #4,277
  • Sep 30, 2021 12:07am Sep 30, 2021 12:07am
Quoting tinabb
{quote} How are their Spreads? Commissions? Swaps?
Spreads're very good, as good as FTMO if i'm being correct. Lux's broker is GlobalPrime. you can go to GP website and check their spreads & commissions (can also open demo account)
  • #4,278
  • Sep 30, 2021 12:17am Sep 30, 2021 12:17am
Quoting Koop
i have not laughed like this in a while. An educational game? {image}

They are pissing people right in to face and telling it's raining!!!
  • #4,279
  • Edited 9:46am Sep 30, 2021 2:36am | Edited 9:46am
Quoting diamond1011
{quote} Spreads're very good, as good as FTMO if i'm being correct. Lux's broker is GlobalPrime. you can go to GP website and check their spreads & commissions (can also open demo account)
Actually, LUX is cheaper from a commission perspective than a common GP account.
GP charges 7$ per lot round turn, GP-LUX "only" 4$.

Quoting HoLoTrader
{quote} But it will takes time. I mean: at least 4 to 8 months for me and the risk i'm taking. FTMO took me 5 days... lol. But let's be honest. Who would copy the trades of a trader that passed in 5 days.
Yeah, with 4% trailing DD it takes time for sure.

Good luck with your evaluation!

Quoting pipmaster77
{quote} That's absurd. Pay your money and wait up to 8 days!!!!
It came one day earlier! Instead of Fri I've got account details today
From the email below and all the manual intervention they seem must to do, it'll be a lot of work if the influx of new aspiring traders increases.

------------------------------------------------------------------------------------------------------------------------------------------------------------------


Hello _____!
PLEASE READ THIS ENTIRE EMAIL. There Is Important Information Regarding Your Challenge.
Below are the details of your challenge. Please install an MT5 and login to the broker account provided below to access your challenge. If you are unsure of how to do this, there is a video in Blue Edge Funding Blueprint under the “Blue Edge Funding Demo Account” section.
Account Number: XXXXXXX
Trading Password: ZzZzZzZ
MT5 Server Name: TC Bridge Corp
Your Account Analytics to track your challenge progress will appear in your Blue Edge Financial Client Area under the “Account Details” section within the next 24 hours.
It is VERY important that you email us once you take your first trade to make sure you get your full 30 calendar days for the challenge.
Please email us at [email protected] and title the email “Extension”.
Please include the following information:
1. First & Last Name
2. Email Associated With Your Account
3. Date That You Took Your First Trade
We will make sure the end date on your challenge is 30 days from when you take your first trade.
Finally, once you pass phase 1, please email us at [email protected] and title the email “Phase 1 Completed”. This will notify us to review your account!
Please include the following information in the email:
1. First & Last Name
2. Email Associated With Your Account
After we have reviewed your Phase 1 challenge and have accepted it, we will email you the Phase 2 details so you can start! Please allow us a week to review the account and send you your Phase 2 details.
That’s all for now! If you have any general questions about the challenge or anything else about Blue Edge Funding, please message our 24/7 live chat support on our website. If you have a question specific to your account/challenge, please email us at [email protected] and let us know how we can help you.
Good luck on your challenge! Use proper risk management and stick to your trading plan! You can do it!
The Blue Edge Financial Team
  • #4,280
  • Sep 30, 2021 3:02am Sep 30, 2021 3:02am
People on TCF Telegram chat claiming "TCF offering 8% Profit target for Stage 1 and 4% for stage 2" effective from Monday. I wonder whare this will lead to?
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