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  • #15,881
  • May 22, 2023 7:05am May 22, 2023 7:05am
Quoting pipmaster77
{quote} I'm guessing the guy they banned last week after informing him he couln not trade 160 lots any longer.
You mean the retard influencer who yolo’d his account and got slapped for it? Why are we still validating that clown?
Trade with confidence, trade without fear.
  • #15,882
  • May 22, 2023 7:14am May 22, 2023 7:14am
Quoting Vitore
{quote} There is only handful of prop firms worth trying, let alone investing into. Most are not reliable, apply nonsensical rules, etc. etc. You find ~5 when you're lucky. With those you can buy about 1-1.5M at max
I don't really trust any of them for the long run. That's why my strategy is to diversify as much as possible and expect some to fail. The losses are just cost of business. However, I'm trying to avoid the clear red flags such as all the ones with hidden or unclear rules.
  • #15,883
  • May 22, 2023 7:36am May 22, 2023 7:36am
Quoting Cryptosurf
{quote} You mean the retard influencer who yolo’d his account and got slapped for it? Why are we still validating that clown?
I'm not validating him, was just responding to your question of not sure what issues folks are having with FTMO. People buy into everything they see/hear without getting both sides.
  • #15,884
  • May 22, 2023 7:40am May 22, 2023 7:40am
Quoting pipmaster77
{quote} I've stated several times recently. If starting this over TODAY, there are 3-4 firms I'm going with before FTMO.
What firms are these and why(quick reasons)?
  • #15,885
  • May 22, 2023 7:55am May 22, 2023 7:55am
Quoting pipmaster77
{quote} I'm guessing the guy they banned last week after informing him he couln not trade 160 lots any longer.
It's not the first time. In March they also reduced leverage to 1:5 to a guy

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Or the guy they forced to have 1% SL
Attached Image (click to enlarge)
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There was another case of denying payout to 5 guys of the leader board because the strategy was very similar. I'm not sure if there was any copying involved or not.
https://twitter.com/kimmeltrading/st...QVLRchi_Jw46oQ
  • #15,886
  • May 22, 2023 7:59am May 22, 2023 7:59am
Quoting driven18
{quote} What firms are these and why(quick reasons)?
MFF- by far the best, IMO, 8%/12% vs. 10%/10%, $100 less on 100K, $200+ less on 200K. 112% fee refund, bonus on phase 1 and 2.
TFTP- same as above, better offer, lower price. I know some folks have issues with them and I don't particularly like their image or their arrogance, but their offers are very good and they pay.
E8- only recently would consider due to their new offering with higher DD, and commission free indices.... now they are an 8%/10% model and double the time on both phases. I do not even use them as I just do not wish to take on a 5th firm at this point. I would probably use them instead of TFF if starting over today.
MFFX- jury still out for me here, but the no time limit challenge did not exist when I started.
I need to emphasize, I trade with FTMO, started with them and have never had a single issue. There are just better offerings from proven, reliable firms today than there were 3 years ago.
  • #15,887
  • May 22, 2023 8:20am May 22, 2023 8:20am
Quoting pipmaster77
{quote} MFF- by far the best, IMO, 8%/12% vs. 10%/10%, $100 less on 100K, $200+ less on 200K. 112% fee refund, bonus on phase 1 and 2. TFTP- same as above, better offer, lower price. I know some folks have issues with them and I don't particularly like their image or their arrogance, but their offers are very good and they pay. E8- only recently would consider due to their new offering with higher DD, and commission free indices.... now they are an 8%/10% model and double the time on both phases. I do not even use them as I just do not wish to take...
Last I recall the commission free indices was for April only. Not sure if they made it permanent. If they did I would consider as their margins are in line with FTMO and MFF.
Trade with confidence, trade without fear.
  • #15,888
  • May 22, 2023 8:40am May 22, 2023 8:40am
Quoting pipmaster77
{quote} MFF- by far the best, IMO, 8%/12% vs. 10%/10%, $100 less on 100K, $200+ less on 200K. 112% fee refund, bonus on phase 1 and 2. TFTP- same as above, better offer, lower price. I know some folks have issues with them and I don't particularly like their image or their arrogance, but their offers are very good and they pay. E8- only recently would consider due to their new offering with higher DD, and commission free indices.... now they are an 8%/10% model and double the time on both phases. I do not even use them as I just do not wish to take...
Just a remark. I don't trade indexes in E8 (or anywhere) but I've been reading multiple people claiming against their execution. In forex is not great too, but it's not massive either. For the rest E8 is pretty fast approving and paying, as well as for credentials and agreements.
  • #15,889
  • May 22, 2023 8:42am May 22, 2023 8:42am
Quoting Cryptosurf
{quote} Last I recall the commission free indices was for April only. Not sure if they made it permanent. If they did I would consider as their margins are in line with FTMO and MFF.
Yes, I am not aware if they continued the no commission. If so, definitely worth considering.
  • #15,890
  • May 22, 2023 9:01am May 22, 2023 9:01am
Quoting navk
Hi dears, I had been living outside canada for some time. Now, i have moved to canada in the last 3 weeks. Most of you know MFF issues two type of contract agreements. 1 ) For canadian residents and 2 ) for people living outside canada. Why this two type of contracts ? Any tax implications ? I recd contract after KYC when i was outside Canada. MFF rep says no need to do kyc again. For just knowledge purpose, I wish to know why two type of contracts. Thanks.


Hi Mate, pls what do you think of all those prop firms using 8cap and thinkmarket?

i like the propfirm that have their own liquidity different from brokers that individual traders have accounts with.
MY OPINION NOT FINANCIAL ADVISE
  • #15,891
  • May 22, 2023 9:02am May 22, 2023 9:02am
Quoting pipmaster77
{quote}E8- only recently would consider due to their new offering with higher DD, and commission free indices....
Commission free indices? When and where did they announce it? I must have missed that. Their Instruments page still shows their standard 0.01 % for indices
Or is that just continuation of their commission free month which was supposed to end some time ago?

I see the next messages now, most likely they returned to the commission model on all instruments...
Money is made by sitting, not trading
  • #15,892
  • May 22, 2023 9:43am May 22, 2023 9:43am
Quoting Vitore
I would also prefer buying more capital right away but no prop firm, other then Bespoke, let you buy more than about 600-800K afaik.
-Traders With Edge allows 3M in allocated capital. HOWEVER, they are overpriced and still do not have all of their ducks in a row even after being in operation for about a year now. I think that they require that challenges be done one at a time, as well. There are other pros/cons about this firm.
  • #15,893
  • Edited 10:04am May 22, 2023 9:43am | Edited 10:04am
Quoting Capablanca
I would say that even at 1:10 is pretty good to have 1M with a 8% or 10% DD, specially if that 1M comes for free (literally).
-Sure. I prefer to have higher allocation in lieu of scaling simply because I can operate multiple accounts and keep things small (especially risk and slippage).
  • #15,894
  • Edited 10:06am May 22, 2023 9:43am | Edited 10:06am
Quoting Capablanca
We could do that, yes, but doesn't come for free because, even if you make it to funded and after that you make it to payout and receive the fee, you will fail some challenges anyway. So, it's a different thing IMO. Scaling really comes 100% free in those companies that let you withdraw.
-For those that can pass challenges easily enough, then it may not be that different, simply because you are getting your refund, so the artificial scaling is free. In both cases, you are having to invest the time into trading, but much more so with scaling.

I would say that doing more challenges is a much, much faster way to grow your capital, so perhaps that makes up for the oddball, failed challenge. You can also keep things separated with the challenge route, allowing you to mitigate risk significantly, however, your chances of blowing a single, scaled-up account is far greater.
  • #15,895
  • May 22, 2023 9:43am May 22, 2023 9:43am
Quoting Cryptosurf
You mean the retard influencer who yolo’d his account and got slapped for it? Why are we still validating that clown?
Quoting pipmaster77
I'm not validating him, was just responding to your question of not sure what issues folks are having with FTMO. People buy into everything they see/hear without getting both sides.
-I do not think that anyone is validating that guy. However, this is not the first instance that we have heard about recently, where FTMO is clearly and selectively setting boundaries on accounts.

Whether or not traders are being stupid or not is irrelevant, since such actions made against traders should be considered, regardless of the reasoning, as it can oftentimes be a precursor to other questionable (and concerning) activity. It is worth making note of, at the very least, and keeping an objective eye on.

My comment about this was made with regard to FTMO's higher-end pricing, and that it may not be justifiable forever, especially if they are doing questionable things like selectively singling out traders that are exceeding their undefined risk-tolerance levels.

FTMO's history and trustworthiness has garnered them special concessions with regard to their pricing structure, so when they appear to start setting restrictions on accounts based on undefined rules or limits that they seemingly refuse to clarify, then perhaps the pricing justification may carry less weight with traders over time. That is all.
  • #15,896
  • May 22, 2023 10:03am May 22, 2023 10:03am
Quoting Vitore
On the other side of the spectrum there's a very new firm (FXIFY) which offers the max of 775K which can be scaled up to 7.75M as soon as in 12 months.
-Thanks for sharing. I took a quick look at them this morning. Perhaps this could be another option to add to my list of potentials.

A few things that I noticed:

1. Leverage for indices is 5:1. It's doable, but something that may be worth noting for traders here.
2. Prices are a littler higher, given that you must pay more for basic options that should probably already be included (just my opinion).

Then there is this, in their T&C:

"You are also prohibited from using any trading strategy that is expressly prohibited by Prime Intermarket Group Asia Pacific Ltd and Alchemy Global Limited (the “Brokers”). Such prohibited trading (“Prohibited Trading”) shall include, but not be limited to:

  1. Exploiting errors or latency in the pricing and/or platform(s) provided by the Broker
  2. Utilising non-public and/or insider information
  3. Front-running of trades placed elsewhere
  4. Trading in any way that jeopardises the relationship that the Prop Account has with a broker or may result in the cancelling of trades
  5. Trading in any way that creates regulatory issues for the Broker
  6. Utilising any third-party strategy, off-the-shelf strategy or one marketed to pass assessment accounts
  7. Utilising one strategy to pass an assessment and then utilising a different strategy in a funded account, as determined by the Company in cooperation with FXIFY at their discretion

If the Company detects that your trading constitutes Prohibited Trading, your participation in the program will be terminated and may include forfeiture of any fees paid to the Company. Additionally, and before any Trader shall receive a funded account, the trading activity of the Trader under these Terms and Conditions shall be reviewed by both the Company and the Broker to determine whether such trading activity constitutes Prohibited Trading. In the case of Prohibited Trading, the Trader shall not receive a funded account."

I mention this for a few reasons:

1. Someone mentioned FXPIG (of which I know nothing about), yet the brokers listed here appear to be different. Maybe it's nothing.
2. Utilizing a different strategy between challenge and funded is iffy. It could sure help to stop people from using PYC services, but it could also be a trap for legitimate traders.
3. Since they have a review process in place and will make a determination based on their (and broker's) discretion, you could be at the mercy of possibly (3) review teams.

Again, these points could be nothing, and just the usual 'cover their butt' type of jargon. But it is worth mentioning here so that traders are aware of what could be possible.

Thanks.

  • #15,897
  • May 22, 2023 10:29am May 22, 2023 10:29am
Quoting Nsak3y
{quote} {quote}Whether or not traders are being stupid or not is irrelevant, since such actions made against traders should be considered, regardless of the reasoning, as it can oftentimes be a precursor to other questionable (and concerning) activity. It is worth making note of, at the very least, and keeping an objective eye on.
JFC, you cant be serious. Read back what you wrote...think about it.

No offense but that reasoning is off the chart insanity. There's no justification in rationalizing the patently absurd.
Trade with confidence, trade without fear.
  • #15,898
  • May 22, 2023 10:29am May 22, 2023 10:29am
Quoting Capablanca
{quote} Just a remark. I don't trade indexes in E8 (or anywhere) but I've been reading multiple people claiming against their execution. In forex is not great too, but it's not massive either. For the rest E8 is pretty fast approving and paying, as well as for credentials and agreements.
E8 slippages are worst for scalpers. I dont understand slippages on asian session when currency hardly moves that too on challenge phases.
  • #15,899
  • May 22, 2023 10:36am May 22, 2023 10:36am
Quoting Nsak3y
{quote}-1. Leverage for indices is 5:1.
They changed to 10:1 just didn't update their site yet
Money is made by sitting, not trading
  • #15,900
  • May 22, 2023 10:44am May 22, 2023 10:44am
Quoting donfriday
{quote} Hi Mate, pls what do you think of all those prop firms using 8cap and thinkmarket? i like the propfirm that have their own liquidity different from brokers that individual traders have accounts with.
8 cap no good.

Think market, never tried.

Prop firms having their own servers prefered.

MFF...FTMO..
Intraday only.
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