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  • #20,221
  • Sep 3, 2023 6:45am Sep 3, 2023 6:45am
Guys stop being dumb. An accusation isn’t a fact. There has been no due process in this mess. Using it as statements of fact is proper low iq
  • #20,222
  • Sep 3, 2023 6:46am Sep 3, 2023 6:46am
Quoting inversio
{quote} The slippage in gbpusd that time was 48 pips !! They took my stop. ---- not clear this part. was 48 slippage or widening spreads during news or roll over time? and is ur lot was big one?
widening spreads

My lot size i do not remeber.. but those trades were existing for long time..atleast 2 hrs when widening of spread happened.
Intraday only.
  • #20,223
  • Sep 3, 2023 6:47am Sep 3, 2023 6:47am
Quoting navk
{quote} 1) I was funded out by TFTP once. 2 ) I was failed in phase 2 at the same time. The slippage in gbpusd that time was 48 pips !! They took my stop. Since then I stopped with them. They tried to offer me something after long months.. may be 8/9 months, which I refused. I asked them to reinstate if they want to offer me something.
Do you think prop firms will consider dialling down their slippage black box? So live market conditions are replicated, but no more than that. Might accrue some goodwill for when regulators come knocking.
  • #20,224
  • Sep 3, 2023 6:51am Sep 3, 2023 6:51am
Quoting Dirac
{quote} Do you think prop firms will consider dialling down their slippage black box? So live market conditions are replicated, but no more than that. Might accrue some goodwill for when regulators come knocking.
no because even the slippage most give including MFF is better than market. That’s the whole fucking problem. And why this is so dumb
  • #20,225
  • Sep 3, 2023 6:52am Sep 3, 2023 6:52am
Quoting navk
{quote} widening spreads My lot size i do not remeber.. but those trades were existing for long time..atleast 2 hrs when widening of spread happened.
i think this is common in prop. Once my acc busted by muff by doing the same thing. after that never used high lot even found a very good entry.
  • #20,226
  • Sep 3, 2023 6:52am Sep 3, 2023 6:52am
Quoting navk
{quote} chênh lệch giá mở rộng Kích thước lô của tôi tôi không nhớ.. nhưng những giao dịch đó đă tồn tại trong thời gian dài..ít nhất là 2 giờ khi chênh lệch giá mở rộng xảy ra.
If you trade for a long time then slide it normally while it is in the news. and people often advise not to trade news if you have a good position and stop loss.
  • #20,227
  • Sep 3, 2023 6:53am Sep 3, 2023 6:53am
Quoting Dirac
{quote} Do you think prop firms will consider dialling down their slippage black box? So live market conditions are replicated, but no more than that. Might accrue some goodwill for when regulators come knocking.
All of us knew there is slippgae here and there with every provider.

But in a standard pair like GBPUSD ..48 pips is abnormal.

I have used TFF, FTMO, FXIFY,MYfufnedfx, MFF... and the slippage was minimal
Intraday only.
  • #20,228
  • Sep 3, 2023 6:58am Sep 3, 2023 6:58am
Quoting navk
{quote} All of us knew there is slippgae here and there with every provider. But in a standard pair like GBPUSD ..48 pips is abnormal. I have used TFF, FXIFY,MYfufnedfx, MFF... and the slippage was minimal
48 pips is abnormal? to me 5 pips would be abnormal
Risk Management is of utmost importance!
  • #20,229
  • Sep 3, 2023 7:06am Sep 3, 2023 7:06am
Quoting RCtrader
{quote} 48 pips is abnormal? to me 5 pips would be abnormal
THese are the kind of firms, the regulator should watch out.
Intraday only.
  • #20,230
  • Sep 3, 2023 7:20am Sep 3, 2023 7:20am
Quoting Takisd
Guys stop being dumb. An accusation isn’t a fact. There has been no due process in this mess. Using it as statements of fact is proper low iq
The likelihood for MFF losing the case is over 90%. Some accusations are facts and some might not be but that is really insignificant here as the main goal for CFTC is to ban this type of activity in USA the same way as they did with forex brokers 10 years ago. The approach is directly from their play book.
  • #20,231
  • Sep 3, 2023 7:29am Sep 3, 2023 7:29am
Quoting Masterrmind
{quote} Similar experience I have had with Fusion Markets since 2019. Mastermind...........
I hope everyone can understand why the MFF shut down is the absolute worst case scenario for USA traders. Props were our way of trading like the rest of the civilized world. This disclaimer is on EVERY broker regulated in any other jurisdication. The CFTC protects us from ourselves by not allowing us to trade at any REGULATED broker other than their own. This sounds way more like an authoritarian power grab than protection, can anyone disagree?
Oh wait, it's the US, that is EXACTLY what our government does.
I love the company we keep as US citizens, have us listed right there with Afghanistan, Iraq, North Korea......

Fusion Markets is not able to take clients from Afghanistan, Congo, Iran, Iraq, Myanmar, New Zealand, North Korea, Palestine, Russia, Somalia, Sudan, Syria, Ukraine, Ontario, Yemen or the United States or its territories.
  • #20,232
  • Sep 3, 2023 7:36am Sep 3, 2023 7:36am
Quoting Phil_GMT
{image} MyFF Received $300m, customer Payouts were $137m I have read most of the pdf doc : CFTC Charges “My Forex Funds” with Fraudulently Taking Over $300 Million From Customers Hoping to Become Professional Traders | CFTC Conclusion : MyFF not a Ponzi - This 'manipulative 'software they use in the back-end of MT4/5, we on FF have known about for +10yrs, - Every MT4/5 Broker uses it, made by Boston Technologies. - The Parts of the document where they 'expose' MYFF CEO Lavish luxury...
Yes..............................100% agree with everything stated. Brokers do it every freaking day. Regualtors turn a blind eye to it.
  • #20,233
  • Sep 3, 2023 7:40am Sep 3, 2023 7:40am
Quoting inversio
{quote} are this firm not reliable TFT and MFFX ? do u have any bad experience or any solid complain against them? they are on my list palning to join within few months
There will not be any prop firms operating in the US in a couple of months........save your money. The US just screwed anyone residing in the US making money from fx......AGAIN!!!!!!
  • #20,234
  • Sep 3, 2023 7:46am Sep 3, 2023 7:46am
Quoting TrAndy1
What's that ? EU is already in focus, just right now ? {image} https://www.cftc.gov/node/245841
We uncovered that months ago. I have used many brokers on their red list. In general, that list is companies they are "protecting" us from that their long, slimy arms cannot currently reach.
  • #20,235
  • Sep 3, 2023 7:48am Sep 3, 2023 7:48am
Quoting pipmaster77
{quote} There will not be any prop firms operating in the US in a couple of months........save your money. The US just screwed anyone residing in the US making money from fx......AGAIN!!!!!!
I also think any US or CAD resident is not allowed to participate on any prop firm very soon. Same like with FX brokers some years ago. You might take a few offshore props but they won't payout nevertheless because they operate already very shady. I find this very sad. As European I should have more time until stricter regulation takes place. But sooner or later I also have no hope here, that something will come. I just hope it will not be by far as strict as in the USA. US regulators are the worst.
  • #20,236
  • Sep 3, 2023 7:52am Sep 3, 2023 7:52am
Quoting pipmaster77
{quote} There will not be any prop firms operating in the US in a couple of months........save your money. The US just screwed anyone residing in the US making money from fx......AGAIN!!!!!!
I also think CFTC will win the court case as usual. That means no such prop firm is allowed to operate any longer in the USA and Canada. I would bet on this, if I could.
  • #20,237
  • Sep 3, 2023 7:53am Sep 3, 2023 7:53am
Quoting TrAndy1
{quote} I also think any US or CAD resident is not allowed to participate on any prop firm very soon. Same like with FX brokers some years ago. You might take a few offshore props but they won't payout nevertheless because they operate already very shady. I find this very sad. As European I should have more time until stricter regulation takes place. But sooner or later I also have no hope here, that something will come. I just hope it will not be by far as strict as in the USA. US regulators are the worst.
Regulation will come to UK and EU for prop firms but will take longer, but cfds trading in europe with cysec regulator is legal and they are not very stric, maybe props will only offer 30:1 leverage max ect, but the problem is in US CFDs is illegal, so for US traders props will be over for them, maybe even european firms and offshore will not accept US traders like forex brokers dont accept
  • #20,238
  • Sep 3, 2023 7:55am Sep 3, 2023 7:55am
Quoting TrAndy1
{quote} I also think any US or CAD resident is not allowed to participate on any prop firm very soon. Same like with FX brokers some years ago. You might take a few offshore props but they won't payout nevertheless because they operate already very shady. I find this very sad. As European I should have more time until stricter regulation takes place. But sooner or later I also have no hope here, that something will come. I just hope it will not be by far as strict as in the USA. US regulators are the worst.
Too many conclusions .

Let MFF fiasco to be over.

I agree all prop traders got upset and do not know how to proceed.

The fact is we should wait for court order.

The court order could be only on MFF and will not be on citizens
Intraday only.
  • #20,239
  • Sep 3, 2023 7:55am Sep 3, 2023 7:55am
Quoting Takisd
{quote} no because even the slippage most give including MFF is better than market. That’s the whole fucking problem. And why this is so dumb
Yes, people just don't get it. The conditions were still better than market.
Problem is, the regulators are regulating shit they know nothing about and the judge will be judging on shit he knows nothing about.
Think about it, if 99% of traders who "trade" on a daily basis do not understand slippage and the fact that GBPNZD is going to widen to 50 pips at 5pm ET....these slobs from the CFTC don't "get it" either. Therein lies the problem.
You would think they should know, their brokers, all 2 of them, under their watch, do it all day, every day.
If I was their lawyer, I'd be gathering evidence on the regulated brokers under the CFTC to demonstarte that they do exactly the same things MFF is being accused of.
I think I am watching too many episodes of "Suits".
  • #20,240
  • Sep 3, 2023 8:01am Sep 3, 2023 8:01am
Quoting inversio
{quote} i think this is common in prop. Once my acc busted by muff by doing the same thing. after that never used high lot even found a very good entry.
That's the key. You should never be trading where your max DD will be hit even with a 300 pip move. JUST LIKE YOU WOULDN'T IN YOUR PERSONAL ACCOUNT. A good entry can turn into a bad entry just by some talking head at the fed tweeting something.
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