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  • #11,441
  • Oct 10, 2022 3:38am Oct 10, 2022 3:38am
Quoting ladder
{quote} Many prop firms managers do not know what is the risk. What makes Lux the worst is that they do NOT, on purpose, clearly explain their rules on their website. When you think you finally pass the challenge, they will say bla, bla, bla, you do not qualify, you must do it again.
Agree, we should not rely on hidden and subjective rules.
  • #11,442
  • Oct 10, 2022 3:43am Oct 10, 2022 3:43am
I'm trading the E8 Funding 250K on DEMO for 14 days, what are my chances?

Started with 3 losses for 2% drawdown
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Currently 12 open positions in profit, now about +10K
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I like the dashboard, I'm sure it will be a huge help as time and trading progresses
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It takes a lot for me to IGNORE you, but you can try.
  • #11,443
  • Oct 10, 2022 3:46am Oct 10, 2022 3:46am
It's annoying that we can't pay challenges using Deel's virtual card for companies that use Deel to pay us.

We need to withdraw to Wise or Revolut to do that.
  • #11,444
  • Oct 10, 2022 3:53am Oct 10, 2022 3:53am
Quoting Capablanca
It's annoying that we can't pay challenges using Deel's virtual card for companies that use Deel to pay us. We need to withdraw to Wise or Revolut to do that.
I think it's due to legislation. They would need some “banking” license for that in most countries.
  • #11,445
  • Oct 10, 2022 5:06am Oct 10, 2022 5:06am
Just found the Leaderboard on E8 Funding...

Some amazing statistics there
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And some really frightening numbers too
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It takes a lot for me to IGNORE you, but you can try.
  • #11,446
  • Oct 10, 2022 5:10am Oct 10, 2022 5:10am
Quoting mcquak
{quote} I think it's due to legislation. They would need some “banking” license for that in most countries.
It's strange because, initially, when I opened the Deel account (still for Funding Talent so long time ago), I got a virtual Mastercard. It was not possible to use it in props.

Then, for some reason, they replaced that card for a virtual Visa. This one could be used on props. I purchased several challenges.

And now in September they replaced the Visa and gave me again a virtual Mastercad. Can't be used.

This sounds a problem with Deel+Mastercard which didn't exist with Deel+VISA

This last change happened in September. I remember seeing the VISA terminated and asked them why. They replied:

The reason why your card is terminated is because Deel Card is migrating from Visa to Mastercard, therefore all VISA cards are deactivated. The reason why we are migrating is because Visa has changed its policies for card issuance in certain countries, making it impossible for us to offer Deel Cards where some of our customers reside. We are proactively migrating to Mastercard in order to be able to support more of our customers now, and in the future.

In the meantime I had not used the card. I just realized it now that I wanted to purchase a challenge.
  • #11,447
  • Oct 10, 2022 5:20am Oct 10, 2022 5:20am
Quoting Capablanca
{quote} It's strange because, initially, when I opened the Deel account (still for Funding Talent so long time ago), I got a virtual Mastercard. It was not possible to use it in props. Then, for some reason, they replaced that card for a virtual Visa. This one could be used on props. I purchased several challenges. And now in September they replaced the Visa and gave me again a virtual Mastercad. Can't be used. This sounds a problem with Deel+Mastercard which didn't exist with Deel+VISA This last change happened in September. I remember seeing the...
This must be so frustrating for you.

Masterrmind ............
Master your Mind then Master your Trades
  • #11,448
  • Oct 10, 2022 5:26am Oct 10, 2022 5:26am
Quoting Capablanca
The reason why we are migrating is because Visa has changed its policies for card issuance in certain countries, making it impossible for us to offer Deel Cards where some of our customers reside.
-Makes sense, but why not offer both? Exclusivity/non-compete agreement or what?

I have a crypto.com account, but I've never used it. They have visa cards that allow you to pay with your crypto. If I recall, the crypto is converted to fiat at the time of purchase. Not sure if they are restricted in some countries (probably are).
  • #11,449
  • Oct 10, 2022 5:26am Oct 10, 2022 5:26am
Quoting TrAndy1
This one is without any fees but you need a track record to be funded. A different model here. See yourself here: https://www.traderfunder.com/
update, new prop firm without free funding anymore
cost is a tad insane
PDX adjusts risk, not scales..
  • #11,450
  • Oct 10, 2022 5:42am Oct 10, 2022 5:42am
Quoting PDX
{quote} update, new prop firm without free funding anymore cost is a tad insane
Yes, their new challenge model is bad joke or even worse must be called pure scam, because the score of these offers are just below 1 (!). So no value at all for traders.
  • #11,451
  • Oct 10, 2022 5:48am Oct 10, 2022 5:48am
indeed, to make matter worst, they used free marketing before and make tons of publicity
PDX adjusts risk, not scales..
  • #11,452
  • Oct 10, 2022 6:27am Oct 10, 2022 6:27am
We have MFF, FTMO, E8, TFF, Funded trader program.

All legit and they pay.

Why to look for new ones ? I fail to understand.

Max out in all the above 5 Prop firms. That is enuff.
Intraday only.
  • #11,453
  • Oct 10, 2022 6:51am Oct 10, 2022 6:51am
Quoting navk
We have MFF, FTMO, E8, TFF, Funded trader program. All legit and they pay. Why to look for new ones ? I fail to understand. Max out in all the above 5 Prop firms. That is enuff.
I'm tempted to add a bolded section in Post 1 which outlines the Top 3 to 5 Prop Firms that this threads members recommend.

Masterrmind ...........
Master your Mind then Master your Trades
  • #11,454
  • Oct 10, 2022 7:03am Oct 10, 2022 7:03am
Quoting Masterrmind
{quote} I'm tempted to add a bolded section in Post 1 which outlines the Top 3 to 5 Prop Firms that this threads members recommend. Masterrmind ...........
I agree. Sort of a "TRUSTED" label with a disclaimer "as vetted by members of this thread", takes the responsibility away from you.
  • #11,455
  • Oct 10, 2022 7:25am Oct 10, 2022 7:25am
Quoting pipmaster77
{quote} I agree. Sort of a "TRUSTED" label with a disclaimer "as vetted by members of this thread", takes the responsibility away from you.
Yes exactly.

Masterrmind .............
Master your Mind then Master your Trades
  • #11,456
  • Oct 10, 2022 7:32am Oct 10, 2022 7:32am
There is no overview anymore even on page 1 of all mentioned prop firms here. The list should be at least twice or triple as long as it is on page 1 actually. By the way.
  • #11,457
  • Oct 10, 2022 7:44am Oct 10, 2022 7:44am
Quoting navk
Why to look for new ones ? I fail to understand. Max out in all the above 5 Prop firms. That is enuff.
-Depends on one's goals and preferences. All of which may be non-essential and based purely on the opinion of who you ask. I will give some examples, though:

1. Let's say you have 10 accounts that make up your 'stable' accounts, but you want a couple of fun accounts that you trade differently, with much higher risk, without the worry of getting blacklisted from one of the stable providers.

2. Without looking for, or even considering, new possibilities, nothing will change. Current firms will never feel pressure to improve or offer anything better. If a new firm comes a long with a better model, and many people start to take interest in it, then the long-standing, top firms may have to start paying more attention.

3. More diversification and risk mitigation.

4. Similar to #2, any new ideas or models have to be tested. Many of the firms that currently exist are afraid to deviate from the standard model, for fear that it may not work. Unfortunately, once they grow with the old, existing models and become wildly successful, they may not feel any need or desire to introduce something new. New firms act as a catalyst by serving as guinea pigs for trying out new ideas. That can only happen if people participate and the models are stress-tested. Once/if new models are proven to be viable and successful, then no more excuses can be made; it would then be up to each firm to decide whether or not to evolve and to try to co-exist.

5. If we did not ever consider newer firms and only stuck with the top, then some of the firms on the top list might never have made it on the top list.

6. Very seldom is too much competition a bad thing, unless you are the one competing. Competition gives birth to more choices, better offers, better services et al..
  • #11,458
  • Oct 10, 2022 7:45am Oct 10, 2022 7:45am
Quoting TrAndy1
There is no overview anymore even on page 1 of all mentioned prop firms here. The list should be at least twice or triple as long as it is on page 1 actually. By the way.
I think maybe we need another thread....Mastermind can rename this one..."Trusted Prop Firms", the other one with the long list can be called "Prop Firms if you have $$$$ to burn".
By all means, not saying there is no need to keep searching, but someone BRAND NEW to props, I think we can all agree 100% should start with a proven one, no? Otherwise, bad taste in their mouth, screaming "all props are scams". Unwarranted attention.
  • #11,459
  • Oct 10, 2022 7:54am Oct 10, 2022 7:54am
Do not forget there was not a long time ago that you and others said there is only FTMO and MFF, like if you choose ten prop firms then you go to FTMO; MFF; FTMO; MFF; FTMO;MFF; FTMO;MFF;FTMO;MFF and so on. Then I convinced to go to TFF and you tried it and others too, now TFF is in the play. Also E8 and some others. You cannot say there is only MFF and FTMO or only 5 prop firms. That is fluid. Prop firms come and go and new ones will be created. So there is a need for constant updates.
  • #11,460
  • Oct 10, 2022 7:58am Oct 10, 2022 7:58am
Yes. Having a trusted list serves a valid purpose. However, there is no need to segregate, in my opinion. If we collectively decide to be closed-off to newer firms, then we are only limiting ourselves and our options.
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