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  • #19,941
  • Sep 2, 2023 8:53am Sep 2, 2023 8:53am
Quoting navk
{quote} There was a post from MFF, not long ago, may be ten days ago, that they are ok with pricing and do not wish to increase for a " foreseeable future " And they have 300 millions. The real frauds are interested in that 300 millions. So, they were not in liquidity crunch, they were having huge cash in banks.
Now, you are onto it. The regulators are the fraud. They want their piece of the 300 million, they don't care about the losing traders.
Of course, every spot broker they regulate out , every prop firm is a chance for that money to go back to the futures exchanges. The CFTC is under the umbrella of the NFA......National Futures Association.
  • #19,942
  • Sep 2, 2023 8:55am Sep 2, 2023 8:55am
Quoting wmwmw
1.Most things CFTC charges against MFF as fraud we already knew before and we didn't think those are fraud before. Now just because CFTC say they are fraud, you quickly change mind? And most here benefit from MFF, so if it is a fraud, you would be hurt not benefit.Just ask yourself,if MFF goes belly up, it is good for you or bad for you?If MFF is a fraud, you would be glad if you see MFF go broke. 2. Most things CFTC charges against MFF as fraud, you can charge against an insurance company, like when customer lose, an insurance company win.The things...
Exatly what I said earlier, the ONLY ones glowing over this are the losers. If you are funded and making money, how can this be a good thing?
  • #19,943
  • Sep 2, 2023 8:56am Sep 2, 2023 8:56am
Quoting Sovy
One thing most prop firms can do is get rid of the closing of accounts if one hits the daily drawdown. Instead what should happen is, then person is banned from trading until the next day. This really could help traders who have yet to learn how to take advantage of the exercise concept of mark douglas. If for example i am a prop i has the 5 dd and 10% max. If in a day a trader who uses mine loses 5% in a day, he's stopped from trading, account not closed. He can try again tomorrow. Something to that effect. I know i broke my account a few times...
Sorry to sound harsh but someone that is not able to adjust risk in order not to overtake 5% DD in a single day should never be thinking about trading.

I'm not even taking considerations about the brutality of losing 5% in a single day (which btw is 50% of the allowed total 10% DD).
  • #19,944
  • Sep 2, 2023 8:58am Sep 2, 2023 8:58am
Quoting Dirac
{quote} Maven, really? Afraid I can't give this guy any money, happy to miss out if I'm wrong: https://www.youtube.com/watch?v=qMVmm4NKvho
Yea, this kid is a pompous ass.

Posts stuff on Twitter like "I bought my mom a house" and "I pay my employees more than myself" and then says "You just gotta stay humble".

Yeah, publicly patting yourself on the back is staying humble.
Pride always comes before destruction.... -Proverbs 16:18
  • #19,945
  • Sep 2, 2023 8:59am Sep 2, 2023 8:59am
Quoting Capablanca
{quote} The other ones parametrize things in 8crap (like we saw in the blunder of TFT or the permanent slippage of Funded Next). As that is not enough to control risk and they don't have internal servers like MFF had, they use other "tools" like IPs excuses, reverse trading obscure accusations and so on to deny payments. Between one evil and another, I still preferred MFF way of controlling risk.
it’s not about what I prefer, it’s about the firms I use not get caught by regulators as MFF since MFF is in house liquidity provider, acting as a broker but not registered
  • #19,946
  • Sep 2, 2023 9:00am Sep 2, 2023 9:00am
Since it appears some here do not know what the word fraud means. I figured I will help to clarify it.

Fraud
Fraud, on the other hand, involves intentional deception or misrepresentation with the purpose of obtaining someone else's assets, money, or personal information without their knowledge or consent. Unlike scams, fraud typically involves the perpetrator engaging in illegal activities, such as identity theft, credit card fraud, insurance fraud, or tax fraud, to name a few. In fraud cases, the victim is often unaware that their information or assets are being misused until it is too late.

Scammer
Scammers often use various methods, such as phone calls, emails, text messages, or even in-person interactions, to deceive their victims. Scams can take many forms, including lottery scams, romance scams, phishing scams, and investment scams, among others.

Now. Everyone here knows about the deceptive practices of the prop firms. No need to be shy about it. Since some might not be aware of it who are new to these prop firms but some of us are . Thus we dont feel they are neither scammers or fraudsters as long as they pay. But majority it seems who think those companies do nothing deceptive at all of course get tricked since they don't know the rules 100% unless one research how it truly works, regarding the commission fees, slippages, difference in spreads even if same prop firms use same broker and so on. The moment that happens it turns into deception if they are not honest about it on front of their webpage or in FAQ. Which as far as I know most arent.
  • #19,947
  • Sep 2, 2023 9:00am Sep 2, 2023 9:00am
Quoting Capablanca
{quote} Sorry to sound harsh but someone that is not able to adjust risk in order not to overtake 5% DD in a single day should never be thinking about trading. I'm not even taking considerations about the brutality of losing 5% in a single day (which btw is 50% of the allowed total 10% DD).
Intraday only.
  • #19,948
  • Sep 2, 2023 9:00am Sep 2, 2023 9:00am
Quoting solarpower
{quote} I agree with you. Also, I do not like people's interpretation of 'slip them to hell', I think it was about HFT or similar EA taking advantage of their 'live-like' price quotes.
Exactly, it was practices applied to cheaters. The charges make it look way worse, because once again the regulators are run by folks who know nothing about what they are regulating.....that's government.
  • #19,949
  • Sep 2, 2023 9:02am Sep 2, 2023 9:02am
Those prop firms exist because of ONE fact. 90/90/90 rule. 90% of traders loose 90% of their account in 90 days. So basically they are less than 1% consistent profitable traders. That is why those props can make such offers of additional capital. All the trading environment and rules cannot defeat any real profitable trader. They just can profit from this prop business. Out of those 135000 customers MFF had, probably 1000 traders were able to make regular payouts. So in the end it is a good business and not a bad "Ponzi" which needs to be regulated or shut down to protect any other people, which are only loosers. Those loosers are guilty themselves and not the prop is the bad.
  • #19,950
  • Sep 2, 2023 9:02am Sep 2, 2023 9:02am
Quoting labu
Now. Everyone here knows about the deceptive practices of the prop firms. No need to be shy about it. Since some might not be aware of it who are new to these prop firms but some of us are . Thus we dont feel they are neither scammers or fraudsters as long as they pay. But majority it seems who think those companies do nothing deceptive at all of course get tricked since they don't know the rules 100% unless one research how it truly works, regarding the commission fees, slippages, difference in spreads even if same prop firms use same broker and...
Well said. Seems like a lot people here are suddenly stricken with Stockholm Syndrome.
Trade with confidence, trade without fear.
  • #19,951
  • Sep 2, 2023 9:03am Sep 2, 2023 9:03am
Quoting TrAndy1
Quoting Sovy
{quote} In this article, we are going to go through which broker is each proprietary trading firm partnered with. You can see which broker is each prop trading firm partnered with within the spreadsheet below: Proprietary Trading FirmForex Brokers E8 FundingTier-1 Liquidity Provider with Direct Market Access Alpha Capital GroupACG Markets
...
Anyone else thinking as we post , we are making the regulators jobs easier? Like, how stupid are we? Here, regulators, here is a list of all of the brokers associated with prop firms similar to the one you just shut down.
  • #19,952
  • Sep 2, 2023 9:04am Sep 2, 2023 9:04am
Quoting TrAndy1
Proprietary trading firms offer traders a chance to work with more significant amounts of funds without having to risk their own capital. However, prop firms have different funding options. Some offer real live accounts, while others provide demo accounts where trades get copied to the firm’s live trading account. You can see which prop firms offer real live trading accounts in the spreadsheet below: Proprietary Trading FirmReal Live Accounts {image} {image} {image}
How do we confirm? they all say they use live accounts or copy trades to their live accounts
  • #19,953
  • Sep 2, 2023 9:07am Sep 2, 2023 9:07am
Quoting pipmaster77
{quote} How do we confirm? they all say they use live accounts or copy trades to their live accounts
You cannot 100%. Real accounts should have better trading conditions because execution is better ore more realistic. But that does not mean every single trade is A-booked with real funds backed behind.
  • #19,954
  • Sep 2, 2023 9:08am Sep 2, 2023 9:08am
Quoting TrAndy1
Proprietary trading firms offer traders a chance to work with more significant amounts of funds without having to risk their own capital. However, prop firms have different funding options. Some offer real live accounts, while others provide demo accounts where trades get copied to the firm’s live trading account. You can see which prop firms offer real live trading accounts in the spreadsheet below: Proprietary Trading FirmReal Live Accounts {image} {image} {image}
I would not trust this list. This is based in what is written in MT4/MT5 and anything could be written there, specially if that is internal server.

An example: Finotive has "Live" even for challenges.
  • #19,955
  • Sep 2, 2023 9:08am Sep 2, 2023 9:08am
Quoting TrAndy1
Quoting Sovy
{quote} In this article, we are going to go through which broker is each proprietary trading firm partnered with. You can see which broker is each prop trading firm partnered with within the spreadsheet below: Proprietary Trading FirmForex Brokers E8 FundingTier-1 Liquidity Provider with Direct Market Access Alpha Capital GroupACG Markets
...
Thanks. Its time to filter out the bad weed if we can. Which ones got the least 20s hip twitter savy ego driven CEOs vs actual veterans if any as CEO or founders apart from FTMO which isnt even offshore. Offshore is the way to go now if any.
  • #19,956
  • Sep 2, 2023 9:10am Sep 2, 2023 9:10am
Quoting Capablanca
{quote} On Monday will you trust more on Funded Next (third part broker) or FTMO (internal broker) ? This is an honest question.
Not even a question.....FTMO, not even close. As you stated, it all comes down to who you trust. I traded with offshore "unregulated" brokers for 5 years prior to props.
I trusted them 1000 times more than any of the "regulated" brokers under the CFTC. I never experienced any of the tricks the regulated brokers pull off daily. In addition, my spreads and overall trading conditions were far superior. The offshores claimed STP, and even if it wasn't, it sure felt like it. I'd literally watch price come within 0.01 of a stop and not take it out....yeah, try that with Oanda or Forex.com
  • #19,957
  • Sep 2, 2023 9:10am Sep 2, 2023 9:10am
Quoting Capablanca
{quote} On Monday will you trust more on Funded Next (third part broker) or FTMO (internal broker) ? This is an honest question.
Apparently, FundedNext does not use a 3rd party broker (8cap) anymore. They have their in-house broker now.

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Success = Practice + Patience + Persistence
  • #19,958
  • Edited 9:22am Sep 2, 2023 9:12am | Edited 9:22am
As long as the trader knows where he sets stop loss, why to worry about simulated or real feed ?

I fail to understand.

You win at given trading conditions. This is how you improve your trading skills.

Few pips slippage here and there and even during news releases acceptable.

One should be afraid of regulator coming in and spoiling the firms and winning traders. ONLY FOR THIS REASON, I NEED TO FIND A FIRM WHO OFFER THIRD PARTY FEED.
Intraday only.
  • #19,959
  • Sep 2, 2023 9:14am Sep 2, 2023 9:14am
Quoting Cryptosurf
{quote} Apparently they had been under investigation for over a year. It’s more than compliance issues. They were intentionally putting traders at a disadvantage as a business model. No way to polish that turd. {image}
I read that part and following and got the impression that they divided profitable traders in 2:
1. The cheating ones using arbs, HFT and so on. Those were banned or had slippage increased a lot (can we blame MFF for that ?)
2. The consistent profitable ones. Those were divided in:
a) Hitting them with real condition slippage
b) moving them to real trading, depositing the equivalent of the max DD (risk is covered from then on)

Both 2a) and 2b) are probably real trading condition that should even be applied to challenges and B-booked traders. They were not because this would make it harder to pass challenges and bad for word of mouth business.

Btw, the other props don't have this to manipulate but they invent other stuff to do 1. and 2. like IPs, reverse trading accusations, etc.
  • #19,960
  • Sep 2, 2023 9:16am Sep 2, 2023 9:16am
Finotive Funding — Yesterday at 1:16 PM
Dear Traders, As you have probably seen, one of the largest prop firms has unfortunately been prevented from trading/accessing funds, essentially freezing their operations. This has understandably caused some panic amongst traders using other firms as to whether this is going to be a widespread issue for the industry. Whilst it is a risk that this may not be an isolated incident amongst USA-based prop firms, as we are based in the EU, Finotive will remain unaffected by this issue. As you know, Finotive Funding is powered by Finotive Markets, which is our in house brokerage not a white labelled product. Having our own brokerage puts us in an advantageous position over most prop firms as we can position our broker geographically to best suit our business interest and protect us from potentially random situations like that has happened to this US-based firm. All in all, rest assured that Finotive is here to stay, and with us you are safe https://discord.com/assets/721f98d2a...bddc2eb322.svg
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