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  • #14,061
  • Feb 22, 2023 2:07am Feb 22, 2023 2:07am
Quoting elemiliman
{quote} I think the5ers is the best for serious long term traders.
Hi elemiliman, I've had a serious look at them in the past and decided they weren't for me. Too many restrictions that appear to be designed to wear a decent trader down over time. It's cleverly done but quite cynical.

Also I've yet to come across a genuine advocate for them that is being paid and making a living trading with them, I find this strange given that they are active on this forum. Maybe their traders sign an NDA?
  • #14,062
  • Feb 22, 2023 2:21am Feb 22, 2023 2:21am
Quoting Fagin
{quote} Hi elemiliman, I've had a serious look at them in the past and decided they weren't for me. Too many restrictions that appear to be designed to wear a decent trader down over time. It's cleverly done but quite cynical. Also I've yet to come across a genuine advocate for them that is being paid and making a living trading with them, I find this strange given that they are active on this forum. Maybe their traders sign an NDA?
I agree. I tried them but the DD is so low that it is only feasible if you can make multiple scale ups but with a 6% drawdown and a 10% profit target the road to scaling is very long. Also after 2 scale ups your overall DD falls down to 4% making it even harder to hit your 10% target as you will need to basically 2.5x your account based on DD to get to your scale up.
  • #14,063
  • Feb 22, 2023 2:26am Feb 22, 2023 2:26am
Quoting erlas7
I anyone here with Finotive funding? Any bad experience? I want to try them because unlimited time to reach profit target 7.5% only
Be extremely careful. There are a lot of rules and if you pass phase 1, it will only be reviewed at the end of phase 2. Moreover, if you break certain rules, you will not be notified in real time but only at the end. We will let you continue to tell you at the end that there is a violation.
They have an excellent support but they still have things to fix and improve regarding their process.
  • #14,064
  • Feb 22, 2023 2:44am Feb 22, 2023 2:44am
Quoting Nehemah
{quote} Be extremely careful. There are a lot of rules and if you pass phase 1, it will only be reviewed at the end of phase 2. Moreover, if you break certain rules, you will not be notified in real time but only at the end. We will let you continue to tell you at the end that there is a violation. They have an excellent support but they still have things to fix and improve regarding their process.
Thank you
  • #14,065
  • Feb 22, 2023 3:10am Feb 22, 2023 3:10am
Quoting Nehemah
{quote} Be extremely careful. There are a lot of rules and if you pass phase 1, it will only be reviewed at the end of phase 2. Moreover, if you break certain rules, you will not be notified in real time but only at the end. We will let you continue to tell you at the end that there is a violation. They have an excellent support but they still have things to fix and improve regarding their process.
That sucks because now they have unlimited time to complete challenges, both phase 1 and 2, and trader may have invested a lot of time in passing, just to end up discovering a violation long time ago.
  • #14,066
  • Edited 4:40am Feb 22, 2023 3:55am | Edited 4:40am
Quoting erlas7
I anyone here with Finotive funding? Any bad experience? I want to try them because unlimited time to reach profit target 7.5% only
I'm currently trying Finotive right now. So far it's nice, first time I see a prop firm charge no commission on Forex (Raw spread). I was surprised, the spread is also great. And no crazy slippage (So far) unlike MFF (terrible on slippage). No time limit which is also great. At this time, I like this firm. They make you trade on LIVE (Not Demo), but trades are not sent to the markets. I haven't seen any hanky panky yet. I can't say anything about payout. I'm still on phase 1.
  • #14,067
  • Feb 22, 2023 3:58am Feb 22, 2023 3:58am
Quoting Nehemah
{quote} Be extremely careful. There are a lot of rules and if you pass phase 1, it will only be reviewed at the end of phase 2. Moreover, if you break certain rules, you will not be notified in real time but only at the end. We will let you continue to tell you at the end that there is a violation. They have an excellent support but they still have things to fix and improve regarding their process.
.

Oh crap really... Hope I don't get bad experience. I'm liking them so far. I hope they are not another Fidelcrest.
  • #14,068
  • Feb 22, 2023 4:40am Feb 22, 2023 4:40am
Quoting maflip
{quote} I'm currently trying Finotive right now. So far it's nice, first time I see a prop firm charge no commission on Forex. I was surprised, the spread is also great. And no crazy slippage (So far) unlike MFF (terrible on slippage). No time limit which is also great. At this time, I like this firm. They make you trade on LIVE (Not Demo), but trades are not sent to the markets. I haven't seen any hanky panky yet. I can't say anything about payout. I'm still on phase 1.
As far as I saw in a telegram group Big Pip and MyFundeFx also have no commission (and the dead TPT also had no comission).
I don't know if they're legitim, though. MyFundedFx was mentioned here as having sold personal data.
  • #14,069
  • Feb 22, 2023 4:43am Feb 22, 2023 4:43am
Quoting Capablanca
{quote} As far as I saw in a telegram group Big Pip and MyFundeFx also have no commission (and the dead TPT also had no comission). I don't know if they're legitim, though. MyFundedFx was mentioned here as having sold personal data.
Yeah this no commission on raw spread is a plus for scalpers. Imagine making money on a pip . This 50% / 100% responsible trading policy is the only downside I see at the moment. And this new thing, notifying trader of a violation only after Phase 2.

But OK, I haven't tried the firms you mentioned.
  • #14,070
  • Feb 22, 2023 7:08am Feb 22, 2023 7:08am
Quoting Fagin
{quote} Hi elemiliman, I've had a serious look at them in the past and decided they weren't for me. Too many restrictions that appear to be designed to wear a decent trader down over time. It's cleverly done but quite cynical. Also I've yet to come across a genuine advocate for them that is being paid and making a living trading with them, I find this strange given that they are active on this forum. Maybe their traders sign an NDA?
I believe the reason they are very restrictive is because they actually copy your trades.
Survival intelligence is more important than entry intelligence
AAMS Trinity Engine Return This Month: 0.3%
  • #14,071
  • Feb 22, 2023 7:11am Feb 22, 2023 7:11am
Quoting Hondaman
{quote} I agree. I tried them but the DD is so low that it is only feasible if you can make multiple scale ups but with a 6% drawdown and a 10% profit target the road to scaling is very long. Also after 2 scale ups your overall DD falls down to 4% making it even harder to hit your 10% target as you will need to basically 2.5x your account based on DD to get to your scale up.
I believe they actually copy your trades that's why they are overly restrictive. What do you think?
Survival intelligence is more important than entry intelligence
AAMS Trinity Engine Return This Month: 0.3%
  • #14,072
  • Feb 22, 2023 7:40am Feb 22, 2023 7:40am
Quoting elemiliman
{quote} I believe they actually copy your trades that's why they are overly restrictive. What do you think?
As mentioned above, you start by paying a fee equal to or greater than your allowable loss. You are losing money from the beginning......
But, here is where it gets even better, they double you (100%) every time you make 250% (10% profit with 4% DD) Imagine you had $1,000 in a personal account and you earned 250%, your account would be $3,500, with the 5%ers, not only are they going to take 50% of your $2,500 profit, they are going to leave you with $2,000 to trade with.....so yes I AM CERTAIN THEY COPY YOUR TRADES.....you are funding them, it is the complete opposite of what a trader should be looking for.
Here is an experiment
1. Purchase an account with the 5%ers and deposit the same amount of your fee in a personal account
2. Trade them side by side. You will notice very quickly, to risk the same % of available loss, the position sizes will need to be the same or even slightly smaller with the 5%ers
3. Report the profitability of both here a year from today on on Feb 22, 2024
  • #14,073
  • Feb 22, 2023 8:04am Feb 22, 2023 8:04am
Quoting pipmaster77
{quote} As mentioned above, you start by paying a fee equal to or greater than your allowable loss. You are losing money from the beginning...... But, here is where it gets even better, they double you (100%) every time you make 250% (10% profit with 4% DD) Imagine you had $1,000 in a personal account and you earned 250%, your account would be $3,500, with the 5%ers, not only are they going to take 50% of your $2,500 profit, they are going to leave you with $2,000 to trade with.....so yes I AM CERTAIN THEY COPY YOUR TRADES.....you are funding them,...
Hi Pip Master, thanks for the constant reminders of the pitfalls of the retail prop space. Just out of curiosity are you a scalper, intraday, swing, long-term, or fundamentals-only trader? or a blend of a few?
  • #14,074
  • Feb 22, 2023 8:16am Feb 22, 2023 8:16am
The5ers has a nice bootcamp program. You pay 95 euros so now you have 12 months to go through 3 phases. 5% drawdown and 6% target each. If you pass you pay another 205 euros for 100k account with 4% drawdown and 5% scaling tagret. 50% profitshare before scaling and 75% after. Up to 100% lol Some restrictions such as stop loss and so on. But still decent I guess.

They allow copying. So I will try them soon if they accept cryptopayments. I hope they have good indices trading conditions, but not sure about that.
The Bootcamp program - €95 | The5ers Forex Funding
  • #14,075
  • Feb 22, 2023 8:31am Feb 22, 2023 8:31am
Quoting maflip
{quote} I'm currently trying Finotive right now. So far it's nice, first time I see a prop firm charge no commission on Forex (Raw spread). I was surprised, the spread is also great. And no crazy slippage (So far) unlike MFF (terrible on slippage). No time limit which is also great. At this time, I like this firm. They make you trade on LIVE (Not Demo), but trades are not sent to the markets. I haven't seen any hanky panky yet. I can't say anything about payout. I'm still on phase 1.
Be prepared for commissions with funded account lol But 4$ for forex not too bad so you will be fine if you are not a 1pip hunter. With indices even better.
  • #14,076
  • Feb 22, 2023 8:39am Feb 22, 2023 8:39am
Quoting NevFX
{quote} Hi Pip Master, thanks for the constant reminders of the pitfalls of the retail prop space. Just out of curiosity are you a scalper, intraday, swing, long-term, or fundamentals-only trader? or a blend of a few?
Blend of a few, but mainly swing trade forex and day trade the indices.
  • #14,077
  • Feb 22, 2023 8:44am Feb 22, 2023 8:44am
Quoting pipmaster77
{quote} Blend of a few, but mainly swing trade forex and day trade the indices.
nice
  • #14,078
  • Edited 9:02am Feb 22, 2023 8:51am | Edited 9:02am
Quoting Capablanca
{quote} As far as I saw in a telegram group Big Pip and MyFundeFx also have no commission (and the dead TPT also had no comission). I don't know if they're legitim, though. MyFundedFx was mentioned here as having sold personal data.
Of the two I think Bigpip are probably better offer. 12 % max loss allowed compared to MFFx only 8%

Plus BP offer 85% split from the start
  • #14,079
  • Feb 22, 2023 10:04am Feb 22, 2023 10:04am
Quoting Nihi
The5ers has a nice bootcamp program. You pay 95 euros so now you have 12 months to go through 3 phases. 5% drawdown and 6% target each. If you pass you pay another 205 euros for 100k account with 4% drawdown and 5% scaling tagret. 50% profitshare before scaling and 75% after. Up to 100% lol Some restrictions such as stop loss and so on. But still decent I guess. They allow copying. So I will try them soon if they accept cryptopayments. I hope they have good indices trading conditions, but not sure about that. The...
Good luck with it, let us know how it goes
  • #14,080
  • Feb 22, 2023 10:07am Feb 22, 2023 10:07am
Quoting Bizziebee
{quote} Of the two I think Bigpip are probably better offer. 12 % max loss allowed compared to MFFx only 8% Plus BP offer 85% split from the start
TrAndy is not around recently but if he entered the figures of MyFundedFx in his map it would be one of the worses, I think.
8% target phase 1 + 5% target phase 2
But only 8% mas loss in both phases and funded.
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