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  • #18,881
  • Aug 23, 2023 3:57am Aug 23, 2023 3:57am
Quoting LehmanBrotha
{quote} I second this, although if you stir the water in that group expect to be banned. Those groups don't exist to expose behavior but rather to serve as a circlejerk, an occasional beef between the prop owners and for the admin of the group to collect fees from them. That's it. That said, I think I already got around 4-5x my challenge fee from MFFX. Won't be adding any new accs anytime soon tho. No need with MFF/FTMO around.
I agree with you but from time to time we see some unfiltered / unbanned stories which are useful for the community.
After all, it was in these groups that we learned that Bespoke/Blue were doing tricks with IPs, Finotive refused to grant a funded account based in previous behavior (despite not preventing the trader from purchasing challenges), that Funded Next is a hole of constant claims from customers or that OFP is changing rules as they pleased.
  • #18,882
  • Aug 23, 2023 4:12am Aug 23, 2023 4:12am
Quoting Expo33
We need TAKISD back!
Sorry, I was at the hospital briefly for apparently no reason other than low vitamin levels.

The funniest thing recently I was listening to it like its a pod cast, was this Noman Iqbal thing. They make a round table of 20 yr old prop firm owners, with a guy who is clearly a fucking scammer but the funniest thing was they all came out looking like a scammer. Bespoke, Mffx, Noman, that Kashif guy. Just a big old list of scammers fighting in public with a bunch of people who want to live the "trader lifestyle" cheering them on.

But the highlight of my day yesterday is when Matt said that all prop firms will follow him into futures and Myforexfunds replied - doubt it.

August is traditionally slow for brokers but the entertainment has been hard and fast recently. But we are likely witnessing the beginning of the fall for some.
Also, look at the new firms adjusting conditions desperately for new meat. Even Riz's firm decides to take a stupid route and lower the phase 1 target to 6% in some hope to get new money in. These are desperation moves. Might as well just do instant funding.
  • #18,883
  • Aug 23, 2023 6:04am Aug 23, 2023 6:04am
The offer of futures from MFFs. I don't know what non sense is that of locking trailing DD once 100 USD is made.
Besides, no idea what are those 40% consistency rule in funded.
This new thing seems something as good as top step and others: rubbish.

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  • #18,884
  • Aug 23, 2023 6:08am Aug 23, 2023 6:08am
Quoting Capablanca
The offer of futures from MFFs. I don't know what non sense is that of locking trailing DD once 100 USD is made. Besides, no idea what are those 40% consistency rule in funded. This new thing seems something as good as top step and others: rubbish. {image}
Its "ok" for a futures arcade but it is pretty crap compared to what we are used to. The purpose is that you can "A book" more flow as the exchange rebates will provide revenue. I suspect with matts lack of knowledge this was appealing to him as he doesnt have to figure out how to actually manage risk and he has also realized that most of the things he says are completely bullshit.
  • #18,885
  • Aug 23, 2023 7:14am Aug 23, 2023 7:14am
[quote=genuine007;14545096]
Quoting youngD
{quote} how you place "request payout" in smart prop trader i have generated 125$ 80% of which is 100$ which is minimum payout i am requesting it.. but it is saying not allowed.. "its 15 days passed since trading live" i want to receive 1st payout, now i don't wanna mistake in this like i did with "my forex funds" as i lost 5k live without 1st payout and refund.
Wait till tomorrow it is quite stupid with them. It is actually 14 days after u place first trade. They say on support 12 days but always worked for me 14 days after first trade
  • #18,886
  • Aug 23, 2023 8:07am Aug 23, 2023 8:07am
Has anyone here looked into doing their own prop firm.
i have sone basic information, but I need some support. If anybody wants to entertain the idea of working on thus project, please dm me.

thanks
  • #18,887
  • Aug 23, 2023 9:07am Aug 23, 2023 9:07am
Quoting FKhan
Has anyone here looked into doing their own prop firm. i have sone basic information, but I need some support. If anybody wants to entertain the idea of working on thus project, please dm me. thanks
Yes.

I put together a comprehensive business model and a business plan for a Prop Firm out of personal interest quite a while back after conducting extensive research.

I also built a server and a HEDT of which could be used in a Prop Firm or simply for trading or any number of different uses.

If you want to start your own Prop Firm I highly recommend that you do a comprehensive desktop study prior to spending any coin because you will find out that to do it right requires plenty of money, plenty of staff (well trained staff in customer service, back end operations, marketing, risk management etc) and the list goes on.

You may also need to consider any applicable regulation depending on where and how you plan to run it.

Take a very close look at how MFF and FTMO appear to run their operations because there is plenty of information out there about these 2 firms but understand that you won't get to know everything about their actual business models so you'll need to fill in the gaps as best as you can.

A lot will also depend on how well you plan to set it up and run it, backyard low budget here today gone tomorrow operation or a long term solid Prop Firm.

I wish you all the very best but unfortunately I'm not willing to share my models now or possibly at all.

Note that I have not personally started a Prop Firm and probably will not since in my opinion it's far easier to either trade your own personal accounts and dabble in other Prop Firm spaces than to take on quite the headache of running one.

Mastermind.............
Master your Mind then Master your Trades
  • #18,888
  • Aug 23, 2023 9:14am Aug 23, 2023 9:14am
Quoting FKhan
Has anyone here looked into doing their own prop firm. i have sone basic information, but I need some support. If anybody wants to entertain the idea of working on thus project, please dm me. thanks
I went as far as having a contract written waiting to sign but last minute backed out.

I am not very friendly to retail traders and their stupid complaints so I felt that its not the business for me. The order flow problem that most props will encounter, especially in periods of low/no growth is not one that many people on the planet can solve let alone a failed ICT/SMC trader with a few bucks ready to spend. If you have that resolved - dive in headfirst.

You should probably work on the financial models before considering opening a prop firm because that being a main element is coming up real fast due to the marketplace being completely flooded and as far as I can see 2 MAYBE 3 firms have that solved or semi-solved where they can withstand the down periods or market ranges.

Fun fact - A booking someone who was profitable yesterday/lastmonth/last quarter is not a solution to this problem.
  • #18,889
  • Aug 23, 2023 10:05am Aug 23, 2023 10:05am
the more we hurry , the more we go into drawdown, the more we go into losing streak
i was like 1,300 $ behind from passing phase1 of e8
now i am 1,800 negative below initial balance, need to make all the way back up to 21,800 $ profit

also true forex funds live account is also in draw down
far like 467 $ negative below initial balance
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  • #18,890
  • Edited 10:30am Aug 23, 2023 10:14am | Edited 10:30am
Quoting Takisd
{quote} I went as far as having a contract written waiting to sign but last minute backed out. I am not very friendly to retail traders and their stupid complaints so I felt that its not the business for me. The order flow problem that most props will encounter, especially in periods of low/no growth is not one that many people on the planet can solve let alone a failed ICT/SMC trader with a few bucks ready to spend. If you have that resolved - dive in headfirst. You should probably work on the financial models before considering opening a prop...
I was thinking about Abooking, better A book someone who has low DD like Pipmaster77 in our thread, instead of Noman, who is a high-risk high reward but the firm doesn't know when he will blow his accounts, ( for me Noman is not account keeper, he is account flipper, too risky for prop firms), If prop can focus on those low DD funded traders with high account retention rate, especially those VIP traders with those good stat, I think A booking may work.
  • #18,891
  • Aug 23, 2023 10:47am Aug 23, 2023 10:47am
Quoting Boulder
{quote} I was thinking about Abooking, better A book someone who has low DD like Pipmaster77 in our thread, instead of Noman, who is a high-risk high reward but the firm doesn't know when he will blow his accounts, ( for me Noman is not account keeper, he is account flipper, too risky for prop firms), If prop can focus on those low DD funded traders with high account retention rate, especially those VIP traders with those good stat, I think A booking may work.

For A book you need money. Most of these companies don’t have money.

For the first months it is just praying for no wins.

What you after this period can do is interesting as the company will enter the not desired real trading environment.
  • #18,892
  • Aug 23, 2023 11:24am Aug 23, 2023 11:24am
Quoting Takisd
{quote} Sorry, I was at the hospital briefly for apparently no reason other than low vitamin levels. The funniest thing recently I was listening to it like its a pod cast, was this Noman Iqbal thing. They make a round table of 20 yr old prop firm owners, with a guy who is clearly a fucking scammer but the funniest thing was they all came out looking like a scammer. Bespoke, Mffx, Noman, that Kashif guy. Just a big old list of scammers fighting in public with a bunch of people who want to live the "trader lifestyle" cheering them on. But the highlight...
Glad you are well.

Yeah, I saw the Noman blowout. Toddler CEOs, their bootlickers, and scammers duking it out. Pathetic and hilarious.
Pride always comes before destruction.... -Proverbs 16:18
  • #18,893
  • Aug 23, 2023 11:26am Aug 23, 2023 11:26am
Quoting Masterrmind
{quote} Yes. I put together a comprehensive business model and a business plan for a Prop Firm out of personal interest quite a while back after conducting extensive research. I also built a server and a HEDT of which could be used in a Prop Firm or simply for trading or any number of different uses. If you want to start your own Prop Firm I highly recommend that you do a comprehensive desktop study prior to spending any coin because you will find out that to do it right requires plenty of money, plenty of staff (well trained staff in customer service,...
Welcome back Master!

I'm available for "influencer" duties. I have 3 followers on Twitter.
Pride always comes before destruction.... -Proverbs 16:18
  • #18,894
  • Aug 23, 2023 11:35am Aug 23, 2023 11:35am
Quoting Takisd
{quote} I went as far as having a contract written waiting to sign but last minute backed out. I am not very friendly to retail traders and their stupid complaints so I felt that its not the business for me. The order flow problem that most props will encounter, especially in periods of low/no growth is not one that many people on the planet can solve let alone a failed ICT/SMC trader with a few bucks ready to spend. If you have that resolved - dive in headfirst. You should probably work on the financial models before considering opening a prop...
Can you please specify what exactly the order flow Problem is? I cannot find anything on it anywhere
  • #18,895
  • Aug 23, 2023 12:08pm Aug 23, 2023 12:08pm
Quoting juri93
{quote} Can you please specify what exactly the order flow Problem is? I cannot find anything on it anywhere
The problem is most traders lose, but when they win they win way more than the reward and if you are big enough, you cant just b-book the traders and A book is a losing strategy so what do you do?

The FPFX company who offers the out of the box solution for prop firms has developed systems to increase banning of traders thats their solution to the order flow problem, to increase the losing traders. If someone uses eightcap, thinkmarkets, purple trading and now avatrade, they are using that system.
  • #18,896
  • Aug 23, 2023 3:53pm Aug 23, 2023 3:53pm
Quoting Expo33
{quote} Welcome back Master! I'm available for "influencer" duties. I have 3 followers on Twitter.
Done.

Master your Mind then Master your Trades
  • #18,897
  • Aug 23, 2023 5:28pm Aug 23, 2023 5:28pm
Quoting navk
{quote} How can they fail my 8 cap funded account ? They never said they can not offer think markets. Just failed my 8 cap account. Why should they fail my 8 cap account which is as per originally signed contract ??? It is scam... in this way. If i have time and energy, I can take up to different level.. but..useless as myfundedfx is waste and scam firm
Sorry but MFFX is absolutely not a scam. I work with them since almost their begining and I NEVER had a issue with them.
They had a lot of stories in the Prop Firm Telegram group and Matt probably did some mistakes but they have grown in a spectacular way. 100% legit.
  • #18,898
  • Aug 23, 2023 5:31pm Aug 23, 2023 5:31pm
Quoting Nehemah
{quote} Sorry but MFFX is absolutely not a scam. I work with them since almost their begining and I NEVER had a issue with them. They had a lot of stories in the Prop Firm Telegram group and Matt probably did some mistakes but they have grown in a spectacular way. 100% legit.
Well, you may be trying to defend them because you trade 10k account or 5 k account.

For me Fundedfx is scam. Proofs are posted in this thread. I did challenge both phases got 8 cap credentials with 9 days.

Before even b4 starting to trade, they failed my funded account. Mine is 100 k.
Intraday only.
  • #18,899
  • Aug 23, 2023 5:39pm Aug 23, 2023 5:39pm
Some people trying to defend myfundedfx.

Well, I can assure you.

The day is not far off .

You will see suspension of your funded accounts. Guaranteed.

I HAVE POSTED PROOFS IN THIS THREAD HOW MYFUNDEDFX SCAMMED ME.
Intraday only.
  • #18,900
  • Aug 23, 2023 5:44pm Aug 23, 2023 5:44pm
And I look forward to good firms like MFF, FTMO, TFF. I can earn ten accounts with them for a million. I have required skill set.

I posted proofs here about scam firms / Cheating firms in this thread.

I stay away from myfundedfx and TFTP.
Intraday only.
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