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Yeah I've tried EightCap a long time ago and it was Coinexx-like. But it's good to know at least MFF is IC Markets-like. Now I have to figure out how I could try their platform (MFF) without paying for it.

Do you know if they offer a demo?

What happens if their trading requirements is violated for 1 day? You lose the entire account and have to pay to start all over again with a challenge?

I passed yet another Challenge with TFF today.

This is second one.

Will be trading 2x100k funded account separately.

The MFF evaluation which i was doing, blown. Will try again.

Congratulations on passing.

Why was the MFF blown and TFF passed?

About the trading conditions on the platform, which retail broker would say is similar to TFF? and MFF?

TFF is good. Looks like they still use IC Markets.

At times the platform was freezing. Not much now.

MFF generally mt4 is good. No complaints at all.

Passing challenges clues :

On no day you should make loss, smaller profit is ok

If you make good profit in a day, for example, 4k, continue on the same day and achieve the target. It is easier. You have confidence on that day + Cushion in daily loss limit. You can take extra risk.

Alright thanks for the info. Which ones would you say is the closest to IC Markets?

I have the below list so far.

IC Markets-Like:

MFF (according to Takisd)
TFF (according to navk)

Coinexx-Like:

FTMO (ohyeah demo)
BRK Holdings (ohyeah demo)
E8 Funding (ohyeah demo)

Do you think you could get away with 200 lots split 50x4 or 100x2 with their slippage filter?

Retail forex expands faster than market - That could be a reason why so many new prop firms are popping up in recent times.

New research suggests that retail segment now accounts for roughly six percent of overall market.

Recent research has concluded that retail FX trading accounts for roughly six percent of the overall market volume and 18 percent of the spot market, with over $280bn traded daily.

Reports suggest traders favour STP model

"More firms are offering straight-through processing as a means to cut out the middle men and offer traders a faster and simplified way of executing forex transactions.

The rise of straight-through processing (STP) for online retail trading as the preferred method of settling transactions has continued to steam ahead in the last few years; but while it was once designed to speed things up, it’s now being used to reduce risk and cut down on costs. For online forex providers, this means yet greater efficiencies in operational costs that could potentially be transferred onto customers.

Often confused with electronic communications network (ECN) brokers, which are usually used between banks as they require a higher volume of trades, and market makers, STP brokers are more geared towards the retail, smaller-scale trader. The move towards STP makes sense as a reflection of the increasingly fast-moving way forex trades are conducted online, as well as the rapidly growing popularity of such trades among retail investors, and the around the clock nature of the market.
Retail investors are also likely to be more concerned with speed of transaction. However, ensuring the security of these trades is equally as important, and it is only now that the model of STP can offer the same levels of security as the traditional T+3 (the trade plus three business days) processing methods favoured in the past by financial institutions.
Regular stock market transactions tend to have a higher level of transparency than those in the relatively under-scrutinised forex markets. Whereas forex traders used to have to use an intermediary to carry out and confirm their transactions, with STP methods meaning these third parties are eliminated, allowing the trader to deal just with the brokers who execute the trade. Due to the lack of intermediary, there is less chance of fees being added onto the trades, and traders deal directly with those providing liquidity.
Such has been the shift towards this method that most brokerage firms across the world describe themselves as using STP to implement their transactions. The electronic execution of STP transactions aligns itself with the online forex traders, as the need for paperwork and human interaction is removed. This means that once a trader sends an order through a Forex broker, the transaction is immediately carried out, instead of having to go through a series settlement processes that can a few working days.
It also reduces the risks involved for traders. Whereas with the T+3 method could result in human error causing delays or invalid trades, STP transactions are less likely to suffer because of the reduced time and lack of human involvement.
It’s not just forex brokers that are embracing STP as their preferred method of executing transactions, but also asset managers, dealers, custodians, large banks and other financial institutions. However, although the shift towards STP has been steady over the last few years, fully realised automation of trades is unlikely to happen for some time. This is because of many firms having different systems and practices in place, as well as the lack of a proper industry standard."

Why do you ever fail a challenge if that is a realistic possibility?

How to measure the execution quality ?

Trading cost analysis, or TCA, is a way for traders to calculate the total cost of executing a trade in order to determine if it was executed at an acceptable price or not, and much more. We can get a lot of different statistics on how our orders are being handled by the different venues or ECNs.
But before we understand what TCA is, we need to define what exactly we want to measure.

1. Execution Price: measure the percentage of volume for a certain currency, that is executed at prices better than the top of the book, i.e., either below the best offer for buys or above the best bid for sells. This also leads to the problem commonly known as “slippage”.
2. Execution Latency: it is the average period between the time you send the order, and the ECN receives it for processing. Not only will being close to the ECN improve this, but also depends on how fast your systems send the actual order.
3. Execution Speed: it is the average period between the time the ECN receives an order and the time of order execution. This varies between ECNs and their liquidity providers, and it is crucial measure to the execution quality because it’s out of your control. Either your ECN has a good execution or not. Moreover, in forex, liquidity providers have last look capabilities (a very controversial topic) and that could add up into this measure. More on the next point.
4. Fill ratio: it measures the number of successfully filled orders versus rejections/cancels received. The higher the better. Bad fill ratios could be sending orders with missed prices (because market moved) or as stated in the previous point, the liquidity provider rejects it (last look).
5. Spread: measures the distance from the midpoint of the market at the time when your order is entered to the execution price you receive. This value is doubled to capture the whole bid/offer spread. This amount captures both how often, and by how much, a broker-dealer improves the price of the currency.

From this, we can conclude that the execution quality will depend on the following:

1. Fill ratio
2. % Volume executed at top of book and slippages
3. Latency between your system and the ECN
4. Latency of your system (also known as tick-to-trade)
5. Spread

Based on this information, we can start to design our technology infrastructure to tackle each of these important measures and have a better understanding of our executions.
But before that, we need to understand how the matching engines work and the limit order book dynamics.

Conclusions

The execution quality is one of the most important things when we are trading quantitative strategies. It could be the difference between a successful trading operation or a plain failure, regardless of the strategy you use.

Especially in the Forex market, the best price is no longer the most important thing. Factors such as fill ratio, last look, latencies, and spreads could be far more important than just the price we see.

And here is where having technological tools like FX Aggregators, TCA analysis, etc, could improve how your orders are being executed.

It happens. Will happen if you change trading system, too much exposure, no proper mind set to trade on a particular day. ( Important to me)

FYI

It would be really helpful if you prop traders could post a screenshot of the Market Watch (Forex) symbols. This would answer the question about the IC Markets-like spreads, etc.

TFF spreads are good but $7 rtl comms for FX. See actual spreads here:

Thanks a lot. I can't send a Like as a commercial member.

Check out the spreads for the 2 deepest pairs usd/jpy & eur/usd. Single bank platforms & multibank trading venues (EBS & Reuters matching) spreads are typically not competitive with retail fx brokers. Most retail traders would probably be shocked to see it. However, filling 300 lots with a spread <5 is where those platforms shine.

I've been demo testing with IC Markets for so long, I'm shocked to see anything else. So far, TFFs seems good.

What does the Spot Rate Ladder mean? You mean for 2000 standard lots the spread is 9 pips??