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  • #20,321
  • Sep 3, 2023 11:47am Sep 3, 2023 11:47am
Quoting Capablanca
{quote} Not sure there but in many countries in europe if people are charged with fraud, let's say in banking, and admit it (pledging guilty and paying a fine to escape jail), them may be also barred from banking activity for 10 years for example.
Meaning he's banned from participating in any financial Activities.
  • #20,322
  • Sep 3, 2023 11:47am Sep 3, 2023 11:47am
Quoting TraderTero
{quote} They could if they were taking US clients but they have not been in this case. Btw, they sued Tallinex and its owners for 12 million, got default in court but haven't been able collect anything so far. CFTC is not very keen anymore suing out of jurisdiction entities because in most cases it hasn't been very fruitful. They are more often sending cease and desist letters to brokers who sign up US clients. There are many off shore brokers who have been successfully operating and accepting for many years. The same will happen with props.
But probably enough for some people (owners, directors, etc.) get scared.

Because one thing is knowing that Burundi is prosecuting them. They would laugh at it.
Another thing is having giant US prosecuting, specially if that gets criminal with extradition treats, international warrants, etc.
Not nice to have to live the rest of their lives just circulating in countries without extradition treaties.
  • #20,323
  • Sep 3, 2023 11:51am Sep 3, 2023 11:51am
Quoting Ch23
{quote} To Pay he does Pay for sure ,, Ever since ,l haven't heard of any trader complaining of not being Paid by MFF ,, Ever since l started trading with Them 3 years ago ,, it was Pretty shocking to me see these allegations on them and l guess everyone is too.
I'm not the least bit shocked, honestly, except on the part of STP customers having a mark-up on already real market spreads.

The rest of it we could imagine and suspected, and we discussed that a lot of times here, even strategies and turn arounds to try to be under the radar (radar is exactly what we see now written in the case - traders that get too much attention).
  • #20,324
  • Sep 3, 2023 11:55am Sep 3, 2023 11:55am
Aii This MFF Situation ,Traders are exhausted ,stressed doesn't know what's going on most lost Money and are broke as Hell , like me l don't even have any Cent now was looking towards the 1 account that l had with MFF l trusted them so much.
  • #20,325
  • Sep 3, 2023 11:56am Sep 3, 2023 11:56am
Quoting sampat
{quote} It will not be very difficult. Look at this forum itself many people are cheering because MyFF got caught and have luxurious life even though all of them heart to heart knows MyFF was paying honestly (I understand they have slippage issue but think of it as cost of running business). If MyFF is having so many haters almost all prop firms will have haters CFTC should not have any problem if they want to sue others.
If so few people achieve a payout it's normal that the majority are haters. It's a normal reaction of someone that lost money in challenges and need to blame someone.

We could use all arguments to condemn MFF but using the one of the lavish life is not rational. What if the guy gave all the profit to Red Cross and Unicef. Would that make things different ?
  • #20,326
  • Sep 3, 2023 12:00pm Sep 3, 2023 12:00pm
Quoting youngD
{quote} With my style you not going to try to achieve 100k account. It's rather having few 10k and trade it heavily, expecting profits 5-10% instead having 100k and going for regular 1-2% . Off course this way you will often loose accounts, but entry fee is so small than you just repeat and repeat.
I understand your point but I'm not sure about the repeat and repeat. Let's see if we still have time for that or if this great conditions will simply vanish.

One thing that I definitely regret right now if not having hit very strong and big some props, the more I could, very fast.
  • #20,327
  • Edited 1:44pm Sep 3, 2023 12:01pm | Edited 1:44pm
Quoting ForexGalVA
The risks I take are my own. I don't need any stinkin' 'protection.'
-This is why I strongly advocate for an opt-out clause. If government allowed its citizens the ability to opt-out of various regulatory protections, then it would open so many doors from a trading and investment standpoint.

But why that will likely never happen? Because it does not benefit certain groups here.
  • #20,328
  • Sep 3, 2023 12:02pm Sep 3, 2023 12:02pm
Quoting Capablanca
{quote} I'm not the least bit shocked, honestly, except on the part of STP customers having a mark-up on already real market spreads. The rest of it we could imagine and suspected, and we discussed that a lot of times here, even strategies and turn arounds to try to be under the radar (radar is exactly what we see now written in the case - traders that get too much attention).
l Remember sometime l was on Phase 2 so was only short about 1% to Reach the target ,, the moment l opened a trade during News Period ,, My God Slippage and Spread and the same time showed me flames ,, within 2 seconds l was down 3 % .It took me sometime to Recover from that too.
  • #20,329
  • Sep 3, 2023 12:13pm Sep 3, 2023 12:13pm
Quoting navk
{quote} I mean , have dual citizenship. Vast here in Canada have dual citizenship, as you know canada is basically immigrant country
Dual citizenship is not sufficient. You will find that the broker requires proof of RESIDENCY: Documents such as recent bank statement, utility bill, those sort of things. How are you going to get your name on a utility bill in a country where you do not reside???
To free Gazans of Hamas, use whatever it takes.
  • #20,330
  • Sep 3, 2023 12:15pm Sep 3, 2023 12:15pm
Quoting TrAndy1
{quote} In this article, we are going to go through when were proprietary trading firms that are listed on our website incorporated. You can see when were proprietary trading firms incorporated in the spreadsheet below: Proprietary Trading FirmIncorporation Date The5%ersApril 2020 .
On the 5ers website it says founded in 2016.
https://the5ers.com/about-the5ers/
  • #20,331
  • Sep 3, 2023 12:17pm Sep 3, 2023 12:17pm
Quoting Capablanca
Saw this in telegram. I have no idea who they are and what they do or if this rumour could even be true. I'm sure a lot of fake stuff is flying around these days. {quote}
Well, they definitely provide turn-key solutions for prop firms:
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 36 KB
To free Gazans of Hamas, use whatever it takes.
  • #20,332
  • Sep 3, 2023 12:21pm Sep 3, 2023 12:21pm
Quoting DrDave
{quote} Dual citizenship is not sufficient. You will find that the broker requires proof of RESIDENCY: Documents such as recent bank statement, utility bill, those sort of things. How are you going to get your name on a utility bill in a country where you do not reside???
Dual residents will have all.
Intraday only.
  • #20,333
  • Sep 3, 2023 12:22pm Sep 3, 2023 12:22pm
Actually running...
Inserted Video
  • #20,334
  • Sep 3, 2023 12:24pm Sep 3, 2023 12:24pm
Quoting Nsak3y
{quote}-This is why I strongly advocate for an opt-out clause. If Americans are able to opt-out of various regulatory protections, then it would open so many doors from a trading and investment standpoint. But why that will likely never happen? Because it does not benefit certain groups here.
Interestingly enough the same restrictions don't apply to well off people as they can trade forex freely abroad. Only the poor are being protected.
  • #20,335
  • Sep 3, 2023 12:24pm Sep 3, 2023 12:24pm
Quoting navk
{quote} Dual residents will have all.
Which one you will pick dying by sword or gun US is way better than canada in terms of forex regulations.
  • #20,336
  • Sep 3, 2023 12:26pm Sep 3, 2023 12:26pm
Quoting Ch23
For me l really trusted MFF so much to such an extent that it was the only Prop firm l was using , they Paid me right no issues at all , l was so Happy with them ,, but now this ,, talking to you right now l don't have a cent not even a trading account ,, am broke as a trader it's shocking.
they Paid me right no issues at all , l was so Happy with them ,, but now this ,, . . . l don't have a cent not even a trading account ,, am broke
Hmmm. They paid you, but now you're broke. So with that kind of personal money mangement, it's surprising that your trading money management resulted in even getting a funded account.
To free Gazans of Hamas, use whatever it takes.
  • #20,337
  • Sep 3, 2023 12:33pm Sep 3, 2023 12:33pm
If you are really skilled, prove yourself with Smb, Topstep, apex ,apterous or Leello . No point whining here ohh mff is this or that.
Suck it up and move on.
on a postive roll...
  • #20,338
  • Sep 3, 2023 12:37pm Sep 3, 2023 12:37pm
Quoting DrDave
{quote} they Paid me right no issues at all , l was so Happy with them ,, but now this ,, . . . l don't have a cent not even a trading account ,, am broke Hmmm. They paid you, but now you're broke. So with that kind of personal money mangement, it's surprising that your trading money management resulted in even getting a funded account.
l didn't see this Coming Really l was jus so Relaxed and Happy with MFF , Anyway it's a big lesson for me now ,, l mustn't Really Rely on one Account now ,,.But to be Profitable am so Profitable l don't wanna lie to you.
  • #20,339
  • Sep 3, 2023 12:40pm Sep 3, 2023 12:40pm
Quoting sampat
{quote} Which one you will pick dying by sword or gun US is way better than canada in terms of forex regulations.
Most immigrants who come from Asia will have dual citizenship. And further more they will have legal address.

At the worst case, they will go for it.

In canada and and US HIB holders.
Intraday only.
  • #20,340
  • Sep 3, 2023 12:43pm Sep 3, 2023 12:43pm
Quoting Rmg
If you are really skilled, prove yourself with Smb, Topstep, apex ,apterous or Leello . No point whining here ohh mff is this or that. Suck it up and move on.
Their conditions are 10 times more difficult and 10 times more expensive plus u have to be day trader closing everything at 5 pm est. Plus u can't trade cross pair.
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