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  • #15,921
  • May 22, 2023 1:24pm May 22, 2023 1:24pm
Quoting navk
{quote} well, MFF would have compensated
Yep, every other firm would have rectified.
Trade with confidence, trade without fear.
  • #15,922
  • May 22, 2023 1:28pm May 22, 2023 1:28pm
Quoting Capablanca
{quote} Only 100K max capital, I think. That's the down part of it.
The5ers has a good reputation (maybe the second oldest prop firm?), but they keep tweaking their plans every month and I don't think they offer the value they used to.

Currently the Bootcamp program has a low entry fee, but it's 3-step, and THEN you get to pay the rest of the registration fee to continue. No thanks.

The Instant Funding program has a 12 month time limit and 1:30 leverage, but overall drawdown is 6% for a 10% target with a 3% daily drawdown limit. It scales to $4M, but would take you a long time to do it with those limits. At least the 3% daily limit is a "pause" and does not terminate your account, they just close trades and disable the account for the current day. It's a good account to have at low risk on the back burner, but I think BuoyTrade is a better first choice for this type of program with simpler rules and lower cost.

The High Stakes program is a typical 2-step evaluation with 10% max drawdown, 8% target, 5% daily drawdown, and 30/60 day limit. However, it only scales to $500K and has a silly 3 minimum profitable days, which they consider to be closed positions only with a positive profit of at least 0.5% of the initial balance. Also, only 1 free extension and 1 free reset where other prop firms have unlimited retries (if you don't hit the target in the timeframe, but don't violate any rules and end with a profit). They aren't very competitive here compared to others.
  • #15,923
  • May 22, 2023 1:36pm May 22, 2023 1:36pm
Quoting Capablanca
If this is to avoid scripts then they should mention that this is not applicable to manual trading.
-This is always a concern for me when dealing with these firms. You never know what they might claim to be considered high-frequency trading, since it is oftentimes, so loosely-defined (if, at all). Another possible scenario is using blanket examples as justification for anything that could be deemed as an attempt to take advantage of demo conditions, which most firms cover in their T&C.

For example, using an EA/script to place a large amount of limit orders at varying price-points, that could very easily get executed within the same second.

Or, for that matter, claiming that you are trying to take advantage of the demo conditions when their simulated slippage is set to 3, but you are using very small position sizes and executing orders in bulk etc..

I even saw one firm, recently, that had terms that could apply to anyone using limit orders, claiming that they could be used to take advantage of demo conditions.

I am not saying that any firm has made these claims, I am just saying that it could be possible, based on how most of the terms are written. As such, it is always best to get clear confirmation in writing prior to working with a firm.
  • #15,924
  • May 22, 2023 1:37pm May 22, 2023 1:37pm
First payout of FXIFY
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Money is made by sitting, not trading
  • #15,925
  • May 22, 2023 1:45pm May 22, 2023 1:45pm
Quoting Cryptosurf
Yep, every other firm would have rectified.
-To clarify, did this incident with TFF happen to you or to someone that you trust, or was that email shared anonymously?
  • #15,926
  • Edited 2:21pm May 22, 2023 2:10pm | Edited 2:21pm
You were talking about E8 earlier, here are some news :

" We are excited to bring you some great news about recent updates and improvements to our platform.

We are thrilled to announce that we have successfully migrated to our new MetaTrader 5 (MT5) server. This move represents our continual commitment to deliver the most reliable and robust trading experiences to our esteemed clients like you.

As a result of this migration, we have already observed significant improvements in the speed and accessibility of our platform. It is heartening to see that our dedicated efforts are bearing fruit, positively affecting both our operations and your trading experiences.

In addition to these improvements, we want to highlight another important benefit: reduced slippages and latency. Over the coming weeks, we will be changing our Liquidity Provider (LP) and adjusting commissions on indices and metals to the lowest possible mark. This change will drastically improve the quality of your trades and overall user experience.

As a way of expressing our gratitude for your continued trust and loyalty, we are pleased to offer a special discount. Use the code NEWMT5 to enjoy a 15% discount on all MT5 accounts, including those on the E8 Track We encourage you to take advantage of this promotion to get the most out of our new and improved server. "
  • #15,927
  • May 22, 2023 2:11pm May 22, 2023 2:11pm
Just saw this post, kind happy , I know we have a few in this thread are part of the stats,,
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  • #15,928
  • May 22, 2023 2:14pm May 22, 2023 2:14pm
Quoting Boulder
Just saw this post, kind happy , I know we have a few in this thread are part of the stats,, {image}
This post is kind interesting too..
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  • #15,929
  • May 22, 2023 2:21pm May 22, 2023 2:21pm
Quoting Boulder
This post is kind interesting too..
-Average payout was 3.5%? If we assume that this is based on account size and not max draw-down, then that is really around 43.75% (assuming 100k account)? I am tired, so maybe my math is incorrect.
  • #15,930
  • May 22, 2023 2:24pm May 22, 2023 2:24pm
Quoting Nehemah
You were talking about E8 earlier, here are some news : " We are excited to bring you some great news about recent updates and improvements to our platform. We are thrilled to announce that we have successfully migrated to our new MetaTrader 5 (MT5) server. This move represents our continual commitment to deliver the most reliable and robust trading experiences to our esteemed clients like you. As a result of this migration, we have already observed significant improvements in the speed and accessibility of our platform. It is heartening to see...
Where is it from? It's not on any of their usual channels
Money is made by sitting, not trading
  • #15,931
  • May 22, 2023 2:32pm May 22, 2023 2:32pm
Quoting Nsak3y
{quote}-Average payout was 3.5%? If we assume that this is based on account size and not max draw-down, then that is really around 43.75% (assuming 100k account)? I am tired, so maybe my math is incorrect.
For sure its based on account size
  • #15,932
  • May 22, 2023 3:14pm May 22, 2023 3:14pm
Quoting Nsak3y
{quote}-To clarify, did this incident with TFF happen to you or to someone that you trust, or was that email shared anonymously?
That was my 6 month old, 200k funded account.
Trade with confidence, trade without fear.
  • #15,933
  • May 22, 2023 3:29pm May 22, 2023 3:29pm
Quoting Capablanca
{quote} Only 100K max capital, I think. That's the down part of it.
5ers slippage is almost 0. I have tested 20-30 lots at the same time on same pair (GBP/USD) on MyFF gives 0.3 pip slippage, E8 gives 0.8-1.5 pip slippage, TFP gives 0.5-0.7, True Forex funds is almost 0.
  • #15,934
  • May 22, 2023 3:43pm May 22, 2023 3:43pm
Quoting AaronPriest
The High Stakes program is a typical 2-step evaluation with 10% max drawdown, 8% target, 5% daily drawdown, and 30/60 day limit. However, it only scales to $500K and has a silly 3 minimum profitable days, which they consider to be closed positions only with a positive profit of at least 0.5% of the initial balance. Also, only 1 free extension and 1 free reset where other prop firms have unlimited retries (if you don't hit the target in the timeframe, but don't violate any rules and end with a profit). They aren't very competitive here compared to...
Thanks for the resume !

I have to revisit their scaling plan and see how fast is that, knowing that their max initial capital is only 100K.

And, yep, I also saw the 50% positive trades rule (with +0.5%). Not very friendly for those that like big RRs. Someone that trades a RR 1:5, for example, may have to close and open several times to have several winning trades, instead of a big winning.
  • #15,935
  • May 22, 2023 3:51pm May 22, 2023 3:51pm
Quoting Capablanca
{quote} Thanks for the resume ! I have to revisit their scaling plan and see how fast is that, knowing that their max initial capital is only 100K. And, yep, I also saw the 50% positive trades rule (with +0.5%). Not very friendly for those that like big RRs. Someone that trades a RR 1:5, for example, may have to close and open several times to have several winning trades, instead of a big winning.
Unless some one is trading news (which is not allowed buy stop and sell stop), 3 trading days with 0.5% is not a big deal. Even with swing trade spanning different days it is risky as it is equity based drawdown.
  • #15,936
  • May 22, 2023 4:36pm May 22, 2023 4:36pm
After being directed to prop firm twitter from here. I have to say that the MFFX CEO is going to get called out on his lies soon.

Whilst he stands there pumping himself up with a blacked out mobile phone screenshot of an eightcap account, he also tells little fibbies about being first in things and his connection to FX.

Second twitter clown is Blake Olsen, but we have known for 3 years that manchild is a clown.

Where is jessica? Why doesn't she join the conversation telling us about how if we join her free platform she can upsell us whilst sending selfies whilst looking for validation and her shot glass of self esteem.
  • #15,937
  • May 22, 2023 4:40pm May 22, 2023 4:40pm
Quoting Vitore
{quote} Where is it from? It's not on any of their usual channels
Received by email
  • #15,938
  • May 22, 2023 4:43pm May 22, 2023 4:43pm
Quoting sampat
{quote} Unless some one is trading news (which is not allowed buy stop and sell stop), 3 trading days with 0.5% is not a big deal. Even with swing trade spanning different days it is risky as it is equity based drawdown.
Something I didn't understand yet in their scaling plan 2 step challenges: if we make 10% we can scale. But can we still scale if we withdraw those 10% profits ?
  • #15,939
  • May 22, 2023 5:21pm May 22, 2023 5:21pm
Quoting Takisd
Where is jessica? Why doesn't she join the conversation telling us about how if we join her free platform she can upsell us whilst sending selfies whilst looking for validation and her shot glass of self esteem.
she's busy throwing her entire weight behind the latest project
  • #15,940
  • May 22, 2023 5:37pm May 22, 2023 5:37pm
Quoting Capablanca
{quote} Something I didn't understand yet in their scaling plan 2 step challenges: if we make 10% we can scale. But can we still scale if we withdraw those 10% profits ?
Scaling is like E8 (once target of 10% achieved). On E8 they leave what ever profit for example on 100K if you make 5K profit new balance will be 105K where as on 5ers it will be increased when 110K achieved.
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