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  • #15,581
  • May 11, 2023 8:55am May 11, 2023 8:55am
Quoting Takisd
TFT should be ashamed of the eurusd slippage on my tiny trades during normal market.
I was sodomized twice today with low lots (up to 5) both in EURUSD and GBPUSD, London session.

2.1 and 2.5 pips execution slippage, which is something I never experienced in TFT.
  • #15,582
  • May 11, 2023 9:04am May 11, 2023 9:04am
Ok guys, time for another story to share.

BFP - Business Fu*k you Program or what do they call themselves

Paid for their 400K account (I know I know). But I used their promo action for 125% refund and 7.5% of phase 1+2 profits and it seemed like a good chance to get back ~400%. Passed evaluation and verification. Then I was waiting for the funded account for 7 DAYS. Yes. The whole week. During which I was being assured I will get it soon.

Well, what I got instead was an email stating I hard breached their martingale rule (SURPRISE SURPRISE!!!)

For placing 7 trades in sequence on XAU, one after another, only when the whole open position was in profit (actually adding to the continuously growing position). Is that a martingale? Or is BFP a scam? Or am I stupid to trust them?

Whatever. No bonus, only the refund (on it's way they say). And another company on my blacklist.

BFP - not recommended
Money is made by sitting, not trading
  • #15,583
  • May 11, 2023 9:15am May 11, 2023 9:15am
Quoting Vitore
Ok guys, time for another story to share. BFP - Business Fu*k you Program or what do they call themselves Paid for their 400K account (I know I know). But I used their promo action for 125% refund and 7.5% of phase 1+2 profits and it seemed like a good chance to get back ~400%. Passed evaluation and verification. Then I was waiting for the funded account for 7 DAYS. Yes. The whole week. During which I was being assured I will get it soon. Well, what I got instead was an email stating I hard breached their martingale rule (SURPRISE SURPRISE!!!) For...
No, adding to winners is not martingale. Adding to losers IS ALSO NOT MARTINGALE, unless you are increasing size as you go. I trade knowing I may need up to 5-6 trades for each position. My risk is pre-determined for a worse case scenario of adding 5-6 times a position moving against me.
My verdict would be scam looking for a way not to pay you. Once again, no offense to anyone, but there are 5-6 firms that are reliable and pay.
MFF,FTMO,TFTP,TFF,E8, I'll even throw the 5%ers in there (I only like their challenge model though)
I know there are recent complaints regarding TFTP. I 100% am sure they are playing games, I just am not affected due to not being a scalper and as I stated it takes me 5-6 trades to build a full position, therefore each trade is relatively small which would explain why I do not see the slippage.
  • #15,584
  • May 11, 2023 9:22am May 11, 2023 9:22am
Quoting pipmaster77
{quote} No, adding to winners is not martingale. Adding to losers IS ALSO NOT MARTINGALE, unless you are increasing size as you go. I trade knowing I may need up to 5-6 trades for each position. My risk is pre-determined for a worse case scenario of adding 5-6 times a position moving against me. My verdict would be scam looking for a way not to pay you. Once again, no offense to anyone, but there are 5-6 firms that are reliable and pay. MFF,FTMO,TFTP,TFF,E8, I'll even throw the 5%ers in there (I only like their challenge model though) I know there...
I was pretty sure adding to winners is not martingale but they insist on it. And they are not worth my time to argue and it wouldn't change anything anyways. I was suspicious before paying them for the challenge because I spoke with their CEO and CFO on their discord and had a bad feeling about them. Something like this was to be expected. Better now then after a month with a huge virtual profit.
Money is made by sitting, not trading
  • #15,585
  • May 11, 2023 9:25am May 11, 2023 9:25am
Quoting Vitore
Ok guys, time for another story to share. BFP - Business Fu*k you Program or what do they call themselves Paid for their 400K account (I know I know). But I used their promo action for 125% refund and 7.5% of phase 1+2 profits and it seemed like a good chance to get back ~400%. Passed evaluation and verification. Then I was waiting for the funded account for 7 DAYS. Yes. The whole week. During which I was being assured I will get it soon. Well, what I got instead was an email stating I hard breached their martingale rule (SURPRISE SURPRISE!!!) For...
I read in the prop group that they don't accept martingale and grid trading. And when asked about it (grid trading) the guy is very vague saying that you recognize it when you see it. If I remember well he spoke about 2 positions max. More than that is considered grid.

However this is not in their conditions anywhere (only the martingale and DCA).

Consistent use of Dollar-cost averaging (DCA) is prohibited. This is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of market conditions. The idea is that over time, market volatility will average out, and you’ll be able to buy more shares when the market is down and fewer shares when it’s up,

We have a strict policy against the use of the martingale trading strategy, which involves opening multiple positions whilst your original trade is in drawdown in the hopes of recouping the losses with subsequent wins. This strategy has been shown to be highly risky and can quickly lead to significant losses, which is why we do not allow its use on our platform. We believe that prudent risk management and a focus on sustainable trading strategies are key to long-term success in the markets. Therefore, we encourage our clients to adopt responsible trading practices and use strategies that align with our values and objectives.

Besides they have this general rule which opens the door to anything:

  1. Utilizing one strategy to pass an assessment and then utilizing a different strategy in a funded account, as determined by the Company

This rules is very dumb because any person with very basic trading knowledge knows that we have to trade differently in range or in trending markets, for example. I think this rule exists for them to deny payments.

  • #15,586
  • May 11, 2023 9:31am May 11, 2023 9:31am
Quoting Capablanca
{quote} I read in the prop group that they don't accept martingale and grid trading. And when asked about it (grid trading) the guy is very vague saying that you recognize it when you see it. If I remember well he spoke about 2 positions max. More than that is considered grid. However this is not in their conditions anywhere (only the martingale and DCA). Consistent use of Dollar-cost averaging (DCA) is prohibited. This is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of market conditions. The idea...
I know, I've seen that. I may be lucky getting the fee refunded from them at all. They seem to be prepared for kicking out anyone they decide to for any fabricated reason :-D
Money is made by sitting, not trading
  • #15,587
  • May 11, 2023 9:36am May 11, 2023 9:36am
Quoting Vitore
{quote} I know, I've seen that. I may be lucky getting the fee refunded from them at all. They seem to be prepared for kicking out anyone they decide to for any fabricated reason :-D
A trust pilot review was deserved to these guys...
  • #15,588
  • May 11, 2023 9:37am May 11, 2023 9:37am
Quoting Capablanca
{quote} A trust pilot review was deserved to these guys...
sadly I cannot give them another one as my trust pilot account was suspended :-D
Money is made by sitting, not trading
  • #15,589
  • May 11, 2023 9:43am May 11, 2023 9:43am
I got another funded account in MFF two weeks ago and only know I remembered that I'm probably entitled for a bonus, right ?
  • #15,590
  • May 11, 2023 9:57am May 11, 2023 9:57am
Quoting Capablanca
{quote} I read in the prop group that they don't accept martingale and grid trading. And when asked about it (grid trading) the guy is very vague saying that you recognize it when you see it. If I remember well he spoke about 2 positions max. More than that is considered grid. However this is not in their conditions anywhere (only the martingale and DCA). Consistent use of Dollar-cost averaging (DCA) is prohibited. This is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of market conditions. The idea...
Yes, this is crazy. This is why I prefer the firms where the rules are the rules........make x% without losing x%.....how I do it should be irrelevant. If the firm is stupid enough to not have real market conditions.....people will cheat
If you provide real market conditions, then how I earn profit should be irrelevant and according to the firms........THEY ARE SHARING IN MY SUCCESS, so they shouldn't care either, right?
  • #15,591
  • May 11, 2023 9:59am May 11, 2023 9:59am
Quoting Capablanca
I got another funded account in MFF two weeks ago and only know I remembered that I'm probably entitled for a bonus, right ?
Yes, 2% of stage 1 when you get the funded account and then 4% of stage 2 and refund with your first payout on live account.
  • #15,592
  • May 11, 2023 10:05am May 11, 2023 10:05am
Quoting Vitore
{quote} I was pretty sure adding to winners is not martingale but they insist on it. And they are not worth my time to argue and it wouldn't change anything anyways. I was suspicious before paying them for the challenge because I spoke with their CEO and CFO on their discord and had a bad feeling about them. Something like this was to be expected. Better now then after a month with a huge virtual profit.
I just added a trade on US30 about 30 minutes ago to a trade already in loss, did this in all of the firms I use........guess what? the entire POSITION is now in profit. I will not have an issue with any of the firms I use.......they are reliable, pay and do not make shit up as they go.
Funny thing is, there are platforms that when you add, it just becomes one position anyway, JForex back in the day comes to mind. There is nothing wrong with it when you know what you are doing. Martingale where you are adding and increasing size and HOPING for a reversal is GAMBLING and will lose in the long run. Once again, why should the firm care.....profit is profit, loss is loss.
  • #15,593
  • May 11, 2023 10:22am May 11, 2023 10:22am
Quoting smiley1910
also Funded engineer – Welcome to Funded Engineer Another new prop for consideration. Uses Purple Trading, can get 500k 1 or 2 step for $2,550.
-Thanks for sharing. Just glancing, prices are not great and they have a questionable rule:

"In our Terms and Conditions, it is stated that all transactions made within
trading accounts of our proprietary firm must not interfere with the
functioning of the real market. Individual transactions and/or entire
accounts could be annulled if this were the case.
As for The Funded engineer accounts, these positions would not be
subject to a profit split and the contract is at risk of being terminated. But
what does the contradiction with the real market functioning mean?

5. Use of the guarantee of compliance with limit orders (including Take
Profit and Stop Loss)
Many brokers praise offering their clients the guarantee of filling all pending
orders at a fixed price. Keep in mind that pending orders are Take Profit and
Stop Loss as well. This is only possible on demo accounts."

Maybe someone can correct me if I am wrong about it. They provide an example of this by using a DAX position that gaps overnight. However, without additional clarification, this rule may open people up to abuse. Keep in mind that they claim to use simulated accounts in order to replicate real market conditions. I just wonder if people were using limit orders in order to minimize slippage, for example, if they could then terminate profitable traders by citing this rule as their reasoning.

Although they claim to not have lot restrictions, they do limit leverage pretty significantly (e.g. 1:10 for indices).
  • #15,594
  • May 11, 2023 10:23am May 11, 2023 10:23am
Quoting Capablanca
And when asked about it (grid trading) the guy is very vague saying that you recognize it when you see it. If I remember well he spoke about 2 positions max. More than that is considered grid.
-This is basically a revelation into the kind of firm that they really are. I would thank him for his generous transparency and be on my way.
  • #15,595
  • May 11, 2023 10:33am May 11, 2023 10:33am
Quoting Nsak3y
{quote}-Thanks for sharing. Just glancing, prices are not great and they have a questionable rule: "In our Terms and Conditions, it is stated that all transactions made within trading accounts of our proprietary firm must not interfere with the functioning of the real market. Individual transactions and/or entire accounts could be annulled if this were the case. As for The Funded engineer accounts, these positions would not be subject to a profit split and the contract is at risk of being terminated. But what does the contradiction with the real...
So, is a prop run by a former (or existing prop trader) really a good thing? Initially, you would think so. However, my guess is he realizes what a gold mine it is owning one vs. trading for one. I'm sure it is not designed to make traders successful. Gotta think outside the box sometimes.
  • #15,596
  • May 11, 2023 10:34am May 11, 2023 10:34am
Quoting pipmaster77
So, is a prop run by a former (or existing prop trader) really a good thing? Initially, you would think so. However, my guess is he realizes what a gold mine it is owning one vs. trading for one. I'm sure it is not designed to make traders successful. Gotta think outside the box sometimes.
-I would generally share your sentiment, but would not necessarily use this as a hard rule. E8 firm was the same; failed trader-turned-prop owner. Not to say that E8 is great or anything, but people are using it still. Honestly, I think most props start out as traders.
  • #15,597
  • May 11, 2023 10:44am May 11, 2023 10:44am
A prop firm run by a retail trader just means its run by another failed trader.

Institutional experience is the only specific thing on a resume I would consider if I am looking at a prop firm owners resume.
  • #15,598
  • May 11, 2023 10:49am May 11, 2023 10:49am
Quoting Nsak3y
{quote}-I would generally share your sentiment, but would not necessarily use this as a hard rule. E8 firm was the same; failed trader-turned-prop owner. Not to say that E8 is great or anything, but people are using it still. Honestly, I think most props start out as traders.
E8- Failed trader... MLM real estate marketer......
  • #15,599
  • May 11, 2023 11:03am May 11, 2023 11:03am
From MFF Discord:

A bit of a downer announcement today but we felt the community should know. Lately our inbox is filled with websites, a lot you have probably heard of, ask for us to pay for positive reviews.

MFF does not, has not and will never pay for reviews from anyone at any time.

This announcement is being posted because most of these sites when refused seem to get quite hostile and we do not know what will appear next.

It has now become very hard to decipher what is truthful and honest and what is not and that doesn't help anyone but the person getting paid. As always our team are here to answer any questions related to our services and we always pay attention to constructive feedback. Have a great day everyone!
  • #15,600
  • May 11, 2023 11:34am May 11, 2023 11:34am
Quoting Capablanca
Lately our inbox is filled with websites, a lot you have probably heard of, ask for us to pay for positive reviews.
-Paying for positive reviews is a bad idea, especially since most of the time, they are not disclosed as such, which is in violation of the FTC Act. Maybe a sabotage attempt? Most people would probably agree that MFF does not need to pay for reviews.
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