Prop Firm Hub | Page 631 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #12,601
  • Nov 22, 2022 9:01pm Nov 22, 2022 9:01pm
Quoting Causation
{quote} I guess all we can do is wait and see. If that were the case it would further reinforce about the importance of diversification across multiple props to make it worth our while.
Yes, it is the exact reason I began the process a couple of months ago.
  • #12,602
  • Nov 22, 2022 9:21pm Nov 22, 2022 9:21pm
It must be either cash flow issues or management getting changed ?
Intraday only.
  • #12,603
  • Nov 22, 2022 10:14pm Nov 22, 2022 10:14pm
Quoting Causation
By no means did I intend to be unfair on expectations
-That is understood. And it is good to share these things so that we can all stay informed, not only for our own benefit and protection, but also to help keep these firms accountable.

Quoting navk
It must be either cash flow issues or management getting changed ?
-In most cases, a few isolated issues are no reason for concern, and are even expected to some extent. However, given the fact that FTMO has not made any efforts to publicly address any questions or concerns in over a month now, which is very unusual, does not help the situation any.

In my opinion, even if they made a business decision to abandon certain channels of communication, the professional thing to do would be to at least provide an update regarding that.

Having a public forum, whether it be a literal forum such as FF, or some other public platform that allows for unfiltered, two-way discussion, helps to keep these firms accountable and honest. So it goes without saying that any decision to sever such channels should be cause for concern, in my opinion. Hopefully, that is not the case here.
  • #12,604
  • Nov 23, 2022 1:21am Nov 23, 2022 1:21am
Quoting TrAndy1
{quote} Completely rip-off from MFF. They get greedy and want to increase the spread whenever they can. Actually this is fraud even on 100 lots traded on a normal FX broker like IC Markets. On 10 lots you should not pay more than 1 pip or max. 1.2 pip. So you pay for 10 lot $100 too much for every trade. That adds up over time. I am happy I have chosen the personal account trading approach instead of the prop firm route. MFF is the last ressort of any prop firm it seems right now. But spreads....?

Just opened 20 lots of gbp/usd because of this post and can confirm it is not true. The slippage was 0.1 on my position.

Sooooo...... ?

BTW spread was 0.8 at the time. Which is what is being printed at all your favorite brokers.
  • #12,605
  • Nov 23, 2022 3:58am Nov 23, 2022 3:58am
Quoting pipmaster77
{quote} It's not the norm when the norm is normally 12 hours. They are advertising rapid payouts not waiting for a week for payouts. Something is going on with FTMO. I am not the guy who is normally an alarmist, I am normally the one being accused of being too much of an advocate for FTMO, but, they have not posted in their thread for weeks, a very credible source on this thread knows some big players denied their last payouts and you are waiting a week for something you normally receive in 12 hours......It sure seems like some cash flow issues....
Perhaps the original plan of finding and funding successful traders to recruit into their prop desk was only marketing?
So you are left with a few successful traders that cost them money to keep up the charade along with big ticket gamblers (if they are not copying) and a decreasing pool of value seeking but unprofitable traders who now shop around for the lowest entry fees like a lottery ticket.

This may have been a sustainable business plan two years ago but I'm not so sure now there is so much competition grabbing their core customer base?

It's about attrition and retainment of repeating losers - if it wasn't, as pointed out numerous times we wouldn't have the biased phase 1 rules (if they really wanted you to demonstrate good risk management).

I hope at least some of them are genuinely scouting and copying profitable traders as part of their plan, otherwise long term, there will be a high turnover of bucket shops and will end up in the same bin as binary option trading brokers.
  • #12,606
  • Nov 23, 2022 4:35am Nov 23, 2022 4:35am
Hello.

Today when I configured payout with TFF, I noticed that they have added crypto withdrawal via USDT(ETH network), fee is ~2.75%

Good news for someone!
  • #12,607
  • Nov 23, 2022 6:19am Nov 23, 2022 6:19am
Quoting pipmaster77
{quote} It's not the norm when the norm is normally 12 hours. They are advertising rapid payouts not waiting for a week for payouts. Something is going on with FTMO. I am not the guy who is normally an alarmist, I am normally the one being accused of being too much of an advocate for FTMO, but, they have not posted in their thread for weeks, a very credible source on this thread knows some big players denied their last payouts and you are waiting a week for something you normally receive in 12 hours......It sure seems like some cash flow issues....
something is very fishy with FTMO, another thing to observe is that they are no longer active here on the forum and also this year they didnt offer any black friday Discount, i think they have missmanaged some funds and are having issues with paying out all those people they owe, right now i think they back is against the wall and the following month we will see alot of complaint and manipulation from FTMO, from manipulating price data to not paying clients to banning accounts for no reason, i think diversification is the only solution moving forward, dont put your eggs in 1 basket.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #12,608
  • Nov 23, 2022 6:47am Nov 23, 2022 6:47am
Quoting Soros
{quote} something is very fishy with FTMO, another thing to observe is that they are no longer active here on the forum and also this year they didnt offer any black friday Discount, i think they have missmanaged some funds and are having issues with paying out all those people they owe, right now i think they back is against the wall and the following month we will see alot of complaint and manipulation from FTMO, from manipulating price data to not paying clients to banning accounts for no reason, i think diversification is the only solution moving...

Have they ever had a sale I dont think they have. Also, its professional trading not a vacuum cleaner.
  • #12,609
  • Nov 23, 2022 6:57am Nov 23, 2022 6:57am
Quoting Takisd
{quote} Have they ever had a sale I dont think they have. Also, its professional trading not a vacuum cleaner.
Ha! Agree, the very fact they get involved in this kind of marketing. I wish they wouldn't wave such a blatant flag (I'm thinking more of MFF).

"Yo bro! Here's a special coupon so it's even cheaper to give us your money..."
  • #12,610
  • Nov 23, 2022 7:27am Nov 23, 2022 7:27am
https://www.thecitytraders.com/funding

New prop firm
  • #12,611
  • Nov 23, 2022 7:50am Nov 23, 2022 7:50am
Quoting wansiman
https://www.thecitytraders.com/funding New prop firm
No time limit? Massive tick in the box for me. 10% no phases? Another big tick..

BUT: trailing drawdown, 4% daily max loss and 5% overall max loss 10:1 leverage? Come on... why would you over MFF and 60 days with extension on P1?
  • #12,612
  • Nov 23, 2022 8:09am Nov 23, 2022 8:09am
Quoting Fagin
{quote} No time limit? Massive tick in the box for me. 10% no phases? Another big tick.. BUT: trailing drawdown, 4% daily max loss and 5% overall max loss 10:1 leverage? Come on... why would you over MFF and 60 days with extension on P1?
I'm not even going to look, but I'm going to take a stab in the dark.......the fee is equal to or greater than the DD offered?
  • #12,613
  • Nov 23, 2022 8:23am Nov 23, 2022 8:23am
Quoting pipmaster77
{quote} I'm not even going to look, but I'm going to take a stab in the dark.......the fee is equal to or greater than the DD offered?
Arrgh you made me click on it again, their web traffic stats will be going to the moon..!

Well then... $725 for 5K (100k account / 5% max)
  • #12,614
  • Nov 23, 2022 8:27am Nov 23, 2022 8:27am
Quoting Fagin
{quote} Arrgh you made me click on it again, their web traffic stats will be going to the moon..! Well then... $725 for 5K (100k account / 5% max)
It is 1 step challenge.
  • #12,615
  • Edited 9:10am Nov 23, 2022 8:35am | Edited 9:10am
Quoting sampat
{quote} It is 1 step challenge.
Sorry, yes I meant no 2 step phases. 500k is interesting also. With that trailing drawdown and max risk it would take me 200 days to get there without risking my fee... can I be bothered?
  • #12,616
  • Nov 23, 2022 9:53am Nov 23, 2022 9:53am
Quoting Fagin
{quote} Sorry, yes I meant no 2 step phases. 500k is interesting also. With that trailing drawdown and max risk it would take me 200 days to get there without risking my fee... can I be bothered?
Yes, as there is no advantage to trading a personal account. 10% goal for 5% MaxDD is e^2 * $ 3500 maxDD for the 500k challenge = $ 25895, so score is < 1 !!!!!!!!!
  • #12,617
  • Nov 23, 2022 9:58am Nov 23, 2022 9:58am
Quoting TrAndy1
{quote} Yes, as there is no advantage to trading a personal account. 10% goal for 5% MaxDD is e^2 * $ 3500 maxDD for the 500k challenge = $ 25895, so score is < 1 !!!!!!!!!
Please translate this so a Guinness drinker in England can understand..
  • #12,618
  • Nov 23, 2022 10:09am Nov 23, 2022 10:09am
Quoting TrAndy1
{quote} Yes, as there is no advantage to trading a personal account. 10% goal for 5% MaxDD is e^2 * $ 3500 maxDD for the 500k challenge = $ 25895, so score is < 1 !!!!!!!!!
Same founder for luxtrading firm. Both are crap.
  • #12,619
  • Nov 23, 2022 11:54am Nov 23, 2022 11:54am
Quoting sampat
{quote} Same founder for luxtrading firm. Both are crap.
Lockwood is not a founder of Lux. He'd been a “teacher” in howtotrade.com (as well as Max Norbury), and in his own company, which I do not remember the name for.
That said, you are right, the rules look very similar to Lux, though.

BTW, howtotrade.com has started in a funding business several days ago...
  • #12,620
  • Nov 23, 2022 12:19pm Nov 23, 2022 12:19pm
Quoting mcquak
{quote} Lockwood is not a founder of Lux. He'd been a “teacher” in howtotrade.com (as well as Max Norbury), and in his own company, which I do not remember the name for. That said, you are right, the rules look very similar to Lux, though. BTW, howtotrade.com has started in a funding business several days ago...
He may not be founder but he was kind of partner or something related. Lux was very notorious in changing rules. Worst of all kind as it was having challenge to get direct funding.
94 traders viewing now