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  • #9,361
  • Jul 15, 2022 3:53pm Jul 15, 2022 3:53pm
Should be number two on total payouts, I guess with $32 million payouts in first half year 2022 from FTMO. See here for more statistics from FTMO, just published.
https://ftmo.com/en/ftmo-statistics-...#sta-section-1
  • #9,362
  • Jul 15, 2022 4:15pm Jul 15, 2022 4:15pm
Quoting TrAndy1
Should be number two on total payouts, I guess with $32 million payouts in first half year 2022 from FTMO. See here for more statistics from FTMO, just published. https://ftmo.com/en/ftmo-statistics-...#sta-section-1

I really wish their font wasnt so obscene and large, but yeh a firm second in payouts it seems.
  • #9,363
  • Jul 15, 2022 5:05pm Jul 15, 2022 5:05pm
Quoting Takisd
{quote} If I was trading there, I would hope they change that. Its really bad for their financial situation. Thanks for the info though, I'm going to go trade with them now knowing that my stops will be guaranteed get a free funded account.
You got a point there.
Until now they had the lot limitation in the first 3 months, which would mitigate, and wide spreads prevents a bit of scalping.
Furthermore they are tricky with rules.
First with the rule of the lot limitation (now removed).
Also with the copy trades, which is not clear if that is enough that you trade same instrument in 2 different accounts. They are doubtful and support are unable to reply in a clear way.

And this rule is very discritionary:
Quote
Trading activities must be genuine according to real market operation and traders must not use practices that cannot be verified against real market conditions. Trading using strategies that misuse the real market function or that are intended to take advantage of any system vulnerabilities or deceive the live market execution is not allowed and will be considered a violation. The use of the following is not acceptable within our guidelines: copy trading of other persons signals,...

I deal with them like I'm dealing with gangsters: very carefully.
Nevertheless it's one of my favorites (not the ones I trust more).
  • #9,364
  • Jul 15, 2022 5:29pm Jul 15, 2022 5:29pm
Yeh that quote is enough for me not to put my money in there and try to game the system. Its a discretionary means of banning. Thefundedtrader does it too. There have been so many peoples trades reversed by them, and the person goes and complains on discord and bam instaban

I am surprised it hasn't leaked out everywhere.
  • #9,365
  • Edited 1:59pm Jul 17, 2022 1:49pm | Edited 1:59pm
Apologies in advance to Mastermind for my sarcastic rant but I thought I'd liven up the thread to start the week with this nonsense.

A couple of "I'll pass your challenge threads" popped up within an hour of each other. I hate to give either any free exposure by posting it here but the first one is just priceless, no pun intended.

https://www.forexfactory.com/thread/...ces-guaranteed

So what you're saying is I pay the $1000 fee for a 200K challenge and then all I have to do is give you $4000 for you to pass it for me? And then if you fail, you send me $1000 of my own money back to buy another challenge? And we keep doing that until you pass?

Wow, that's a nice business plan huh? So the scam, I mean legitimate business offer, is that I pay $5000 for a 200K challenge and you get 5 tries to pass for me? If you pass anytime before the 5th try you get to pocket all the extra cash? Where do I sign up? After all, he/she/they/it guarantees to pass the challenge for me?

And I'm not surprised that this guy made an offer too after seeding the forum with his mind-blowing 3-day trading results.

https://www.forexfactory.com/thread/...firm-challenge

Opportunities of a lifetime, right?
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Pride always comes before destruction.... -Proverbs 16:18
  • #9,366
  • Jul 17, 2022 2:32pm Jul 17, 2022 2:32pm
Quoting Expo33
Apologies in advance to Mastermind for my sarcastic rant but I thought I'd liven up the thread to start the week with this nonsense. A couple of "I'll pass your challenge threads" popped up within an hour of each other. I hate to give either any free exposure by posting it here but the first one is just priceless, no pun intended. https://www.forexfactory.com/thread/...ces-guaranteed So what you're saying is I pay the $1000 fee for a 200K challenge and then all I have to do is give you $4000 for you...

Both FTMO and MFF have banned hundreds if not more of these types of accounts.
  • #9,367
  • Jul 17, 2022 2:41pm Jul 17, 2022 2:41pm
Quoting Takisd
{quote} Both FTMO and MFF have banned hundreds if not more of these types of accounts.
For sure a clear violation of their TOS.
Pride always comes before destruction.... -Proverbs 16:18
  • #9,368
  • Edited 5:02pm Jul 17, 2022 4:20pm | Edited 5:02pm
Looks like CTI finally realized direct funding sucks and we all want the challenge model.

https://www.citytradersimperium.com/...nding-program/

Just plugging numbers into the TrAndy sheet, looks like a score of 2.8. Still below our standard of 3.1, but certainly better than their previous 0.2.
  • #9,369
  • Edited 6:21pm Jul 17, 2022 5:00pm | Edited 6:21pm
Quoting pipmaster77
Looks like CTI finally realized direct funding sucks and we all want the challenge model.
-Probably, the direct-funding model does not suck for them. Sadly, I expect that they will continue to offer it so long as people continue to sign up for it.

I looked over their website a while back. Things are confusing and their offerings are not good. I clicked away after reading this in their terms:

============================================
Withdrawals
In order to qualify for withdrawals, you must fulfil the following two requirements once you become CTI Funded Trader on Phase III:

  1. Have a minimum of 10 Active Trading Days; and
  2. 1 month has passed since your first trade.

After the 1st payout, you will be able to withdraw once a month during the last 5 days of each calendar month.
Also,

  1. Any trades with No Stop Loss will not be counted and the profit made will not be eligible for payouts.
  2. If you have abnormal trades where you were maxed out on leverage and unusual big trades compared to the normal trades you usually take, you will not be eligible for payouts for those trades.
  3. The account must be in net profit with all trades closed at the time of the payout.
  4. If the Funded Trader breaks any of the terms and conditions, the Funded Trader will not be eligible for any profit share payment

============================================
-Source.

...So, not only does it seem that they make you wait an unreasonable amount of time for each payout (which is a dirty trick used by nearly all firms to ensure higher failure rates and fewer payouts), but it also seems that they have some nasty, hidden rules to help them dodge larger payouts.

  • #9,370
  • Jul 17, 2022 5:10pm Jul 17, 2022 5:10pm
Quoting Nsak3y
{quote}-Probably, the direct-funding model does not suck for them. Sadly, I expect that they will continue to offer it so long as people continue to sign up for it. I looked over their website a while back. Things are confusing and their offerings are not good. I clicked away after reading this in their terms: ============================================ Withdrawals In order to qualify for withdrawals, you must fulfil the following two requirements once you become CTI Funded Trader on Phase III: Have a minimum of 10 Active Trading Days; and 1 month...
Haven't really done a deep dive into T&C's as I am really not at all interested in them, but looks like stop loss still remains but not active trading days. Stop loss is not that big of a deal although when I am scaling in and out of a position, I do not always use them. Really doesn't make sense, MFF, FTMO, TFF, E8, TFT.....none of them require it. You have your max daily DD, what is the difference if you lose x% in one trade or multiple trades?
  • #9,371
  • Edited 6:22pm Jul 17, 2022 6:10pm | Edited 6:22pm
Quoting pipmaster77
Stop loss is not that big of a deal although when I am scaling in and out of a position, I do not always use them.
-I scale into positions, also. I just use an EA that automatically sets an emergency-only stop-loss for every position, so the stop-loss requirement is not a concern. In the case of this firm, I was more concerned with the bit about unusual, big trades compared to normal trades as grounds for non-payment of said trades.

Quoting pipmaster77
Really doesn't make sense, MFF, FTMO, TFF, E8, TFT.....none of them require it. You have your max daily DD, what is the difference if you lose x% in one trade or multiple trades?
-Funny you mention it, because in the case of this firm, they require a stop-loss that is something like 1.5% of initial balance per position. So, you can open as many positions as you like so long as the stop-loss is no greater than 1.5% of initial balance for each position :

============================================
If the funded trader opens multiple positions on the same currency pair, each position’s risk can be up to 1.5% of the initial account balance. So, the funded trader can open multiple positions with a 1.5% risk each. So, for example, if you wanted to risk 3% on a trade, you can split the risk into 2 positions, each 1.5% risk but you cannot risk 3% into one position.
============================================
-Source.
  • #9,372
  • Edited 7:08pm Jul 17, 2022 6:15pm | Edited 7:08pm
Quoting pipmaster77
Looks like CTI finally realized direct funding sucks and we all want the challenge model. https://www.citytradersimperium.com/...nding-program/ Just plugging numbers into the TrAndy sheet, looks like a score of 2.8. Still below our standard of 3.1, but certainly better than their previous 0.2.
If they're still offering the 5/10/4 model (5% profit phase one, 10% phase 2, 4% drawdown) then they're still behind the curve and better be offering rock bottom prices to entice more customers, but they don't.

I've used them in the past and been paid. Good customer service too. TBH they are more of an aggressively marketed education company. Still, they've always been professional and reliable, just too many better options out there.

EDIT: At a second glance their prices for the new day trading Challenge are pretty good
Pride always comes before destruction.... -Proverbs 16:18
  • #9,373
  • Jul 18, 2022 2:45am Jul 18, 2022 2:45am
Quoting Nsak3y
{quote}-Probably, the direct-funding model does not suck for them. Sadly, I expect that they will continue to offer it so long as people continue to sign up for it. I looked over their website a while back. Things are confusing and their offerings are not good. I clicked away after reading this in their terms: ============================================ Withdrawals In order to qualify for withdrawals, you must fulfil the following two requirements once you become CTI Funded Trader on Phase III: Have a minimum of 10 Active Trading Days; and 1 month...

289£ = 344 USD for a 50K challenge with 10% DD and 10%/5% target, 70% payout in first 10% profits (80% after that).
That sounds expensive compared with remaining offer available, except for Ability Capital (Audacity). On the top of that they come with those restrictive rules.

I don't get these people (CTI and Audicity). They come late to the party of the challenges model and their offer is the worse of all the stablished ones.
And they seem very conservative (I'm not saying it's bad). 120K maximum challenge in Ability and 50K in CTI.
  • #9,374
  • Jul 18, 2022 4:32am Jul 18, 2022 4:32am
CTI and Audacity i think are not really worth a look. If just the sheer arrogance of their teams is enough to go by. whenever their facebook ads pop up, look at their replies. Yikes.
  • #9,375
  • Jul 18, 2022 5:23am Jul 18, 2022 5:23am
Quoting Capablanca
I don't get these people (CTI and Audicity). They come late to the party of the challenges model and their offer is the worse of all the stablished ones.
-I do not know much about these firms, but based on the little bit that I have seen, I would suspect that Expo33's comment about CTI is probably accurate by describing them as an aggressively-marketed education company. So, it may be possible that they already have a large user-base and are able to get away with the less-than-desirable offerings.

Maybe I am criticizing them too harshly. I do not know. But I would personally rather not waste more time trying to figure out what it is that they are actually offering. Things should be more clear. Or, maybe it's just me.
  • #9,376
  • Jul 18, 2022 5:30am Jul 18, 2022 5:30am
Quoting Takisd
{quote} If I was trading there, I would hope they change that. Its really bad for their financial situation. Thanks for the info though, I'm going to go trade with them now knowing that my stops will be guaranteed get a free funded account.
Sorry which firm is this? It's easy to get a bit lost in a busy thread!
  • #9,377
  • Jul 18, 2022 5:41am Jul 18, 2022 5:41am
Quoting bluepanido
Sorry which firm is this?
  • #9,378
  • Jul 18, 2022 5:46am Jul 18, 2022 5:46am
Quoting bluepanido
{quote} Sorry which firm is this? It's easy to get a bit lost in a busy thread!
theproptrading
  • #9,379
  • Jul 18, 2022 5:49am Jul 18, 2022 5:49am
Quoting bluepanido
{quote} Sorry which firm is this? It's easy to get a bit lost in a busy thread!
the prop trading. started here:
https://www.forexfactory.com/thread/...6#post14068066
  • #9,380
  • Jul 18, 2022 6:01am Jul 18, 2022 6:01am
Maybe we should make a secondary list of "pass your challenge" scammers here as well so that newbies have full information? I can see a lot of people whining now about being banned by ftmo, mff and e8 for copying other traders because of pass your challenge scams.

On the other hand, its clearly written so..... suffer on your jocks?
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